Capital Importation Rises by 147.5% in Q3 on Soaring Investor Confidence Lagos accounts for lion share of capital inflows Obinna Chima With attractive yields on treasury bills proving to be a major magnate, the total value of capital imported
into the country in the third quarter (Q3) of 2017 more than doubled, rising by 147.5 per cent year-on-year to $4.145 billion on growing appetite by portfolio investors in Nigerian securities.
The value of capital importation stood at $1.8 billion in the second quarter of 2017. According to the Nigerian Capital Importation (Q3 2017) report released yesterday by
the National Bureau of Statistics (NBS), capital importation in Q3 recorded a substantial increase compared to the past few quarters, as the economy continued to recover from the
recession. The Nigerian economy grew by 1.4 per cent in the third quarter of this year, effectively doubling the revised growth rate of 0.72 per cent recorded
in the second quarter. But the latest capital importation report showed that the inflow of capital in Continued on page 6
Financial Clout of States Should Determine Next Minimum Wage, Says President… Page 39 Tuesday 28 November, 2017 Vol 22. No 8258. Price: N250
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Banking on the South, APC Says Atiku’s Exit of No Consequence Chieftain expresses confidence no gov will leave party Former VP to serve for one term, loyalist reveals Onyebuchi Ezigbo in Abuja The All Progressives Congress (APC) is not loosing sleep over the departure of a key chieftain of the party, former Vice-President Atiku Abubakar, from the party, expressing confidence that any opposition party bringing on board a Northern presidential candidate to challenge President
Muhammadu Buhari in the 2019 elections, would not serve the interest of the Southern section of the country. Based on this, party chieftains who spoke exclusively to THISDAY on the issue, said Atiku was a non-issue because there will be concerns in the South that should he win the Continued on page 8
Clear Workers’ Salaries Before Christmas, Buhari Challenges Governors Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday challenged the governors of the 36 states of the federation to pay up all salaries and arrears they owe their workers this festive season so they can have a befitting
Christmas. Buhari threw the challenge while holding a closed-door meeting with select members of the Nigerian Governors’ Forum (NGF) in the council chamber of the State House, Abuja. Continued on page 6
Ogbeh: Rice Importation from Thailand EVEN LAGOS NEEDS ITS MONEY FOR PROJECTS… Muhammadu Buhari (left) and Lagos State Governor, Mr. Akinwunmi Ambode, during the president’s meeting Has Dropped to 20,000 MT… Page 39 President with the 36 state governors at the Presidential Villa, Abuja… yesterday
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Oil Revenue Has Exceeded 2017 Budget Benchmark by 18%, Says NNPC Defends 2018 price, production target Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) has stated that oil revenue in the first ten months of the year has exceed the 2017 budget oil benchmark of $44.50 per barrel by 18 per cent, revealing that oil has sold at an average of $52.49 per barrel between January and October. A statement yesterday from the NNPC spokesman, Mr. Ndu Ughamadu said that the corporation’s Group General Manager, Corporate Planning and Strategy, Mr. Bala Wunti, made the disclosure during
a presentation to the House of Representatives Joint Committee on 2018-2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). He said the 18 per cent recorded above budget benchmark was due to stability in the crude oil markets and various geopolitical dynamics around the world. The NNPC equally defended the federal government’s oil production target of 2.3 million barrels per day (mbd) in the 2018 budget, stating that it was realistic and achievable. It noted that the price projection
of $45 per barrel in the 2018 budget was conservative and based on price scenarios of $35 at the lowest, $45 at the medium and $55 at the highest. Wunti, according to the statement, stressed that most price forecasting agencies were of the view that the medium price scenario had the highest probability of occurrence on which the 2018 budget was hinged upon. “Consequently, a conservative price projection of $45 per barrel was used as benchmark for crude oil price for the 2018 budget,� he stated.
He said the current production capacity in the country was more than 2.3mbd, noting however that due to the insecurity in the Niger Delta region, full production capacity had not been achieved over the years. According to him, “The 2018 crude oil national production projection for the joint ventures, modified carrier arrangements or external financing, production sharing contracts, independents, marginal fields and service contracts is about 2,298,000 barrels per day.� On crude oil production from January to October 2017, Wunti
stated that average output stood at 1.885mbd, amounting to 86 per cent of the budgeted target of 2.2mbd. He blamed the shortfall on Niger Delta security-related factors and vandalism of key export infrastructure, including the TransForcados Pipeline (TFP), Forcados Oil Terminal (FOT) export line, Nembe Creek Trunk Line (NCTL) and Trans Niger Pipeline (TNP). He said robust engagement of stakeholders in the Niger Delta by the government and NNPC had led to improved production in recent months, adding that sustained peace
in the region, price recovery and improved joint venture production would help to support government revenue aspirations. Although he acknowledged that oversupply of oil in the international market was still an issue, he observed that the outlook for the oil market was reassuring given the positive global economic growth and improved compliance by member countries of the Organisation of the Petroleum Exporting Countries (OPEC) and Non-OPEC members with production cuts aimed at rebalancing the market.
“The country from which Nigeria imported the most capital was the United Kingdom, which accounted for $1.736 billion, or 41.89 per cent of total capital inflow in 2017 Q3. “This value represented a 149.26 per cent increase in capital importation relative to the figure in the previous quarter, and a 58.22 per cent growth over the same period last year. “The country that accounted for the second largest value of capital importation was the United States. The U.S. accounted for $962.1 million in the third quarter of 2017, or 23.21 per cent. “The U.S. has also been one of the most important investors in Nigeria, usually either the largest or second largest investor country. “The next two largest investors in the third quarter of 2017 were Tanzania (accounting for 7.61%)
and Mauritius (5.53%),� the report revealed. Capital is imported through financial institutions into the country. In the third quarter of 2017, the bank through which the highest share of capital was imported was Standard Chartered Bank (SCB), accounting for 25.49 per cent ($1.666 billion) of the total share, up from the 18.7 per cent of the total share in the second quarter of the year. SCB was followed by Access Bank, which accounted for 16.62 per cent of the total share or $459.4 million of capital importation, growing from 2.65 per cent of the total share recorded in the second quarter of the year. The top four banks—SCB, Access Bank, Ecobank Nigeria and Zenith Bank – received over 67 per cent of capital importation in the third quarter.
season, el-Rufai said only the Ministry of Finance could present the accurate information and proudly declared that his state and Kano do not have any salary arrears. He added that whilst the balance being expected by some governors might not be enough to clear all the arrears owed their workers, such governors could reduce the arrears by paying part of it from the expected refund and still give their workers some measure of relief this Christmas season. “Let me explain: the Paris club figures need to be reconciled. While the reconciliation process was on going, the president approved that 50 per cent of the original amount be paid to the states. “The payment started from last year. We still have the balance of the first 50 per cent. This is what the president said should be paid to state governments to meet their obligations before Christmas because he’s concerned that many families depend solely on their salaries for rent and for the festive period. That had been decided. “The balance of the first 50 per cent is what we are expecting now before Christmas. The president has approved that and said it must be paid. “But I don’t know the amount. I’m sure that if you contact the Ministry of Finance, they can give you the total amount. I only know what my state is likely to get. “Then there is another 50 per cent that needs to be paid when the figures are reconciled. The reconciliation is going to be concluded before the end of the year. “The Chief of Staff to the President will ensure that the committee working on the reconciliation concludes its work before the end of the year.
“So, what the governors are requesting from the president is a directive for the go ahead to include the next 50 per cent in our 2018 budgets and that is going to be looked at. “Every state will get its own share of the Paris Club refund. It will not get more. Every state has a specific amount that was deducted. That amount may be enough to cover the arrears; it may not, because you cannot get more than you are entitled to. “It varies from state to state. My state has no salary arrears at all, so it’s a mute issue. Kano doesn’t have salary arrears also. So whatever we are getting, we just continue with our development projects. “But some states have salary arrears that are bigger than the Paris Club refund they are getting. Even when they get it, they will not be able to clear the salary arrears. “But it is better to reduce it so that people will have a happier Christmas than nothing at all,� he said.
C A P I TA L I M P O RTAT I O N R I S E S BY 1 4 7 . 5 % I N Q 3 O N S OA R I N G I N V E STO R C O N F I D E N C E Q3 2017 was the first time since the beginning of 2015 that foreign inflows from investors exceeded $4 billion in a quarter. “The boom in capital importation in Q3 2017 was mainly driven by significant growth in both portfolio investment and other investment,� the report explained. Portfolio investment, which was put at $2.767 billion in the third quarter of 2017, remained the largest component of capital importation and contributed to 67 per cent of the total amount. This component expanded faster with a year-on- year growth of 200.7 per cent, said the NBS. Foreign direct investment (FDI) was put at $117.6 million, signifying a drop of 65.5 per cent year-on-year while other investment increased by 124.55 per cent compared to Q3 2016.
“Although other investment in 2017 Q3 more than doubled the value in the third quarter of 2016 from $516.2 million to $1.260 billion, it remained about 30 per cent of the total capital importation. “The total amount of FDI during the quarter was recorded at $117.6 million, which declined by 57.14%, compared to the previous quarter and 65.48% compared to 2016 Q3 due to the fall both in the form of equity and other capital investment. “This category of capital investment showed a surprising decrease in value when both portfolio investments and other investments grew strongly over the third quarter. “Capital import in the form of equity recorded $117.5 million and remained the majority of total FDI in the third quarter of 2017 while other capital fell from $0.3 million
to $0.13 million from the second to the third quarter,� the report added. It stated that the boom in portfolio investments was driven by the strong growth of equities and bonds and “a dramatic capital investment increase in the form of money market instruments�. It also showed that in the third quarter of 2017, services became the leading sector that attracted the largest value of capital investment. According to the report, during the quarter, 41.9 per cent of foreign capital was invested in the services sectors while only 16.07 per cent of the $4.145 billion flowed to the oil and gas sector. “Capital investment to the oil and gas sector dropped from $190.39 in the second quarter of 2017 to only $16.07 in the third quarter while capital flow to the services sectors grew by 303.24 per cent
quarter-on-quarter and 1,505.95 per cent year-on-year. “Capital investments in the ICT, agricultural and drilling sectors also increased strongly compared to the same quarter last year. However, the absolute values to these sectors remained small,� the NBS report added. The report showed that Lagos State attracted the most foreign capital in the third quarter of 2017. The state accounted for most of the capital imported into the country ($3.297 billion in Q3). The figure, however, dropped from 97.07 per cent in the second quarter to 79.54 per cent in the third quarter. “This was because capital flow to Abuja (FCT) increased even faster and other states including Akwa Ibom, Edo, Ogun which also started attracting foreign capital investments.
C L E A R W O R K E R S ’ SA L A R I E S B E F O R E C H R I ST M AS , B U H A R I C H A L L E N G E S G OV E R N O R S The president in the meeting, expressed concern that as THE yuletide season draws approaches, several Nigerian workers in various states were dependent mainly on salaries for survival, but with the non-availability of salaries for them this festive season, the celebrations will ultimately be bleak for them. Further observing that a majority of them will be unable to pay their rent and feed their families as a result of the development, Buhari implored the governors to put smiles on the faces of Nigerian citizens this festive season by paying them. But the governors, in response, demanded for payment of the 50 per cent balance of the first two tranches paid so far of the Paris Club refund to the states to enable them pay the outstanding salaries. They equally demanded for the release of another outstanding balance of 50 per cent of the Paris Club refund yet to be approved to enable them incorporate the funds into the 2018 budgets of their respective states. Responding, the president advised them to commence negotiations with the Minister of Finance, Mrs. Kemi Adeosun, and Minister of Budget and National Planning, Senator Udoma Udo Udoma, for the release of the balance. His response was conveyed on the presidency’s Twitter handle @ NGRPresident. “President @MBuhari has directed the Ministers of @ FinMinNigeria and Budget & National Planning and Governor@ cenbank to commence negotiations with the governors’ forum to enable payment of outstanding Paris & London Club refunds, before the end of the year,� said the tweet. A statement issued last night by the president’s media aide, Malam
Garba Shehu, further said Buhari had directed his key finance officials to sit down with representatives of the NGF to determine how much of their unpaid debts could be released to them before Christmas. He said the president gave the directive while responding to pleas by the governors that the president should give a commitment to pay all outstanding debts owed them from London and Paris Club deductions to ease their financial hardship. According to the statement, the president said he was not averse to the payments as long as the treasury could afford it and the economy would not be destabilised. It also said the governors informed the president that they wanted his commitment on the refund so that they could factor the money into their 2018 appropriation plans. It also said the president, in his reaction, said he was familiar with the issues affecting the states. He was quoted as saying, “I will not be saying much because the responsible ministers are here: finance, budget and planning and the Central Bank of Nigeria governor. I request you to appoint your own team to come and sit down with them. “This should be done, not only for next year’s budget but for this Christmas. The Ministers of Finance, Budget and Planning and the central bank should sit down with you in a sub-committee to see how much can be released before Christmas. “For Nigerians without sources other than their salaries, I am concerned that workers should be able to pay rent, school fees, buy drugs and take care of their families. “I am so much concerned that people should have something to eat for Christmas.�
The statement added that Governors Nasir el-Rufai, (Kaduna), Rauf Aregbesola (Osun), Udom Gabriel Emmanuel (Akwa Ibom) and Chief Rochas Okorocha (Imo) took turns to commend the president for caring for the states and their workers. It also said they thanked him for treating the states equally, irrespective of political party differences, and for approving the refunds which previous leaders chose not to give attention to. But Imo State governor, Rochas Okorocha and his Kaduna State counterpart, Nasir el-Rufai, while briefing journalists at the end of the meeting, said on Buhari’s concern for the payment of salaries this Yuletide season, he had approved the release of the 50 per cent balance of the first two tranches of the Paris Club refunds to enable the governors clear the salary arrears. Okorocha said they assured the president that the salaries and arrears of workers in the states would be cleared with the expected balance of the Paris Club refund. But el-Rufai was more explicit, explaining that the volume of salary arrears being owed by some states could not be cleared by their entire Paris Club refunds. According to Okorocha, “It was a brief meeting between the governors and the president. Basically, it is the end of the year and the president has expressed the need to ensure that every Nigerian, especially workers have a beautiful Christmas and the issue of the outstanding Paris Club refund was discussed and that was taken care of, to make sure that workers in various states and everywhere in the country get to celebrate the Christmas season. “We also used the opportunity to review our working relationship with the president and we found out that we are in harmony. There
is no difference between us and the president. “Everybody seems to be happy working together. But particularly, we commended the president for getting Nigeria out of the recession within such a short time. “We commended Mr. President and everybody left quite happy. We are looking at getting the balance of the Paris Club refund thrashed out once and for all. “We also made a request for Mr. President’s approval that the balance should form part of our 2018 budget, because we can’t include it until we are sure that the money is coming. That was also sorted out. “So, as it is now, the issue of workers took the centre stage and Mr. President was concerned about those who depend on their salaries to feed their families and pay their house rent and he was given the assurance from the governors that we will meet those obligations. “It was emphasised that the states and federal government must work together to get Nigeria out of its present economic predicament to make Nigeria a better society for all of us.� Asked if he really meant that all salary arrears owed workers would be cleared by each state before Christmas, Okorocha said: “Yes, with the Paris Club coming, every worker should enjoy his/ her Christmas. I made that clear.� But el-Rufai clarified further that while the president had approved the release of the outstanding 50 per cent from the first two tranches of the Paris Club refund, the final balance of 50 per cent which the governors want to include in their 2018 budget was still being reconciled. Asked to put a figure on the balance of the 50 per cent the governors expect this Christmas
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‘Original’ Ikoyi Whistleblowers Head to Court Ask finance minister, EFCC to stop payment to others The battle for the payment of the 5 per cent whistleblower fees to those claiming to be the “original� whistleblowers of the $43.4 million discovered in an Ikoyi, Lagos apartment by the Economic and Financial Crimes Commission (EFCC) has assumed another dimension with three claimants heading to the Federal High Court, Abuja, to seek for justice. This came after the Finance Minister and the Attorney General of the Federation (AGF) and Minister of Justice, who had earlier received the petition and appeals from the claimants, remained silent. In a suit dated November 22, 2017 by the plaintiffs through their lawyers Hammart & Co at the Federal High Court, the whistleblowers are seeking the court’s declaration that the Federal Government of Nigeria represented by the AGF and Minister of of Finance, who are defendants in the suit and the EFCC, Bala Usman Maina, Stephen Sunday and Mr. Sherriff, are bound to comply with the Whistleblower Policy or Whistleblower Executive Order to pay 2.5-5 per cent of the whistle blowing fees or percentage as issued by the federal government. The plaintiffs are also seeking a “declaration that the plaintiffs, the 4th, 5th and 6th defendants actively participated and were instrumental to the whistleblowing or disclosure of information to the 1st defendant’s (EFCC) staff or officers which resulted in the 1st defendant’s recovery of the various sums of $43.4 million, N23.3 million and 27,800 Euros at Flat 7 Osborne Towers, Ikoyi, Lagos State�. The plaintiffs are also seeking a mandatory injunction restraining the 2nd defendant (finance minister) by themselves, their agents, staff or officers from excluding or denying them the
payment of the 2.5-5% of the whistleblowing fees or percentage of the amount of the money recovered as a result of the whistleblowing or information disclosed by the plaintiffs to the 1st defendant. The so-called original whistleblowers had earlier written the finance minister, Mrs. Kemi Adeosun, to stop the proposed payment and to allow reason prevail on the petition written to the AGF that they had been shortchanged. In a letter dated November 15 and received by the office of the finance minister on the same day, the petitioners through their lawyers, Hammart and Co (Tafida Chambers), drew the attention of Adeosun to an earlier petition written to the AGF since September, for which no action was taken, noting that the silence of the top government officials ran contrary to the administration’s stance on corruption in all its ramifications. The whistleblowers said they requested the finance minister to put on hold the plan to pay the wrong whistleblowers until their complaint had been thoroughly investigated and justice done. “It is, therefore, the brief of our clients that we request you to hold on payment of the whistleblowers’ fee/entitlement until our clients’ complaints are sorted out. “That considering the vital role our clients played in exposing the whereabouts of the recovered money, our clients cannot be sidelined or denied their entitlement, as doing so will amount to injustice to our clients,� the so-called original whistleblowers informed the court. In a petition dated August 24 which was addressed to the AGF and received on September 8, the solicitors to the claimants, on behalf of Abdulmumin Musa, Mr. Stephen Sunday and Mr. Bala Usman told the AGF that his clients by
the workings of the EFCC had shortchanged the whistleblowers by bringing others who were not the arrowheads of the whistleblowing leading to the cash discovery. The solicitors noted that “our clients informed us sometime in December 2016, three of them voluntarily walked into the office of the Economic and Financial Crimes Commission (EFCC) at 15A Awolowo Road Ikoyi, Lagos, and gave vital information that led to the recovery of over N13 billion at the Ikoyi Towers, Lagos�. The lawyers further told the AGF that “upon a subsequent visit to give detailed information as required by the commission to raid the tower, they were told that if the operation was successful, 5 per cent of the amount recovered will be their take home within 72 hours of the recovery, they were also cautioned that if the information happened to be false, then they will definitely be in trouble which the three mentioned above accepted because they were sure of their facts�. The petition continued: “That when the operation was carried out, it was successful but since then they have not received any commendation by the commission, let alone been given any reward, even though the EFCC have their names and phone numbers.� The petitioners said rather than to do the needful, some EFCC staff informed them that they were not the only people who gave them information on the Ikoyi Tower, as others were also involved without mentioning them. Upon various meetings by the three persons, they agreed to go back and meet the head of EFCC operations, Alhaji Samaila Muhammed and were told during their visit that the number of claimants had increased to nine.
B A N K I N G O N T H E S O U T H , A P C SAYS AT I K U ’S E X I T O F N O C O N S E Q U E N C E 2019 presidential election it could amount to power remaining in the North for 12 years, as it was unlikely that Atiku or any other Northerner emerging president in 2019 would serve for only one term. APC, sources also said, is premising its calculations on the fact that the South-west may have already committed to supporting Buhari’s second term bid, as this would boost the chances of the region getting the presidency in 2023 through Vice-President Yemi Osinbajo. Furthermore, reliable sources in the presidency expressed optimism over the prospects of the ruling party achieving a major turnaround in its popularity rating, following a boost in infrastructure rollout that the APC-led administration plans to achieve in the next 18 months with funding from external loans. The National Assembly recently approved the request by the executive arm of government to raise $5.5 billion from foreign sources, part of which will be used to fund the capital component of the 2017 budget. The federal government is planning to rollover capital projects from 2017 to the 2018 budget for which funding may have already been raised. Speaking on the emerging political dynamics that the APC is banking on, a party source said most people, especially those from the South, would rather throw their support for a Buhari presidency in 2019 so that he can complete the second four-year tenure for the North than vote in another person who will want to stay for a period of eight years, meaning that power will remain in the North for 12 years. The party chieftain who preferred not to be named further pointed out that even some members of the opposition party from the South whose interests will be hurt adversely by such a development would secretly lend their support to APC. Also weighing in on the issue, the National Vice-Chairman (South-south) Chief Hillary Ettah who spoke to THISDAY in a phone interview yesterday, dismissed any fears about an implosion in the ruling party, saying this would not happen. Providing some kind of forecast on the likely scenarios to play out in the run-up to the 2019 elections, Ettah said what the country will witness “will be the absence of a coordinated opposition that can challenge APC and President Buhari�.
Also speaking on the possible defection of many loyalists of Atiku including governors to the PDP, he said nothing like that would happen, insisting that not many would be ready to take such a risk. Specifically, he said the governor of Adamawa State, Jibrilla Bindow would not quit the party along with Atiku, adding that no serious member of the party would take the risk of leaving APC at this stage. “It is going to be difficult, nobody is going to follow Atiku anywhere. You can be sure that no one is following Atiku to leave the party. “That is not to say that we would not have the normal political realignment associated with Nigerian politics but we are unlikely to see an exodus of people following the former vice-president out of APC,� he said. On what he thought of aggrieved members of the ruling party who had complained of being ignored or marginalised, Ettah said none of those complaining could equate their plight to those of the members of the National Working Committee (NWC) of the APC who had toiled for the success of the party since 2015 but have nothing to show for it in terms of patronage. “Look, I always tell people that we are all affected by the situation. Now take the members of the NWC, for instance, what benefits have come to them? “As the people who sacrificed and defied all odds to ensure victory for the party, a feat in the political history of Nigeria, who defeated an incumbent to take over power, what do we have to show for it?� he asked. However, despite the confidence expressed by the leadership of the APC, some of its stalwarts have cried out to Buhari to urgently do something to deflect a possible exodus of party men. Following last week’s exit of Atiku from the APC, concerned party loyalists had expressed concern that if nothing was done to improve on their plight, they might be encouraged to defect. But a top party source said yesterday that the presidency has acceded to their demands to sort out the board and ministerial appointments, and that it was acting swiftly to mitigate the possible impact their grievances could have in the wake of Atiku’s resignation. He disclosed that the visit of the newly appointed Secretary to the Government of
the Federation (APC), Boss Mustapha to the leadership of the party was part of the efforts aimed at stemming revolt in the ruling party. The source said Buhari has directed the SGF to go and consult the party on how best to ensure that the next batch of appointments addresses some of the grievances. During the meeting with the SGF, THISDAY gathered that the National Chairman of the APC, Chief John Odigie-Oyegun took time to discuss some of the petitions that had been piling on his table concerning complaints over neglect in federal appointments. Buhari at the last meeting of the National Executive Committee (NEC) of the party had also promised to address complaints of marginalisation by party men from parts of the country over federal appointments. He had said he would set up a committee to review the modalities for selecting those that will fill the outstanding appointments to boards of parastatals and federal agencies. The president also promised to expand the size of his cabinet by appointing key party men as ministers. But even as the APC appeared confident that it had an edge over Atiku owing to the power rotation principle in the country, loyalists of the former vice-president informed THISDAY that they were not unaware of the permutations for 2019 and that their principal has no intention of serving for more than one term in office should be win the presidential election. “The Waziri Adamawa has no intention of doing more than one term in office and he intends to declare this publicly so that Nigerians will hold him to his promise. “He is very aware of the power rotation principle in the country; he knows that should he not keep to his promise, he will be swept away by the electorate in the same manner as former President Goodluck President who failed to keep to his promise to only serve out the remainder of late President Umaru Yar’Adua’s terms. “Besides, by our calculations, he (Atiku) will be 76 years old by the 2023 elections and the last thing Nigerians will want and should accept is someone trying to re-contest for a second term at that age. He should be ready to move on and ensure that a successor emerges from the South,� a source close to the former vice-president revealed.
Two-Minute BrieďŹ ng NEWS Financial Clout of States Should
Determine Next Minimum Wage, Says President President Buhari has said the new minimum wage for workers in the country must take into consideration the ability of each tier of government to pay its workers. Page 39
EDITORIAL The Judiciary and Crisis Of
Credibility Apparently disturbed by the crisis of credibility that has for long dogged the judicial arm of government and the damage it is inflicting on national psyche, Buhari last week listed areas for urgent reforms. Page 15
POLITICS Unending Friction over
Constituency Projects The refusal of the executive to release funds for the execution of constituency projects despite appropriation, has made federal lawmakers uncomfortable‌ Page 16
FEATURES Delta Communities Embrace
‘Crocodile Smile’ Sylvester Idowu reports on how residents of communities in Delta State benefitted from the Nigerian Army’s free medical outreach as part of its military exercise in the Niger Delta region Page 18
BUSINESS Obi: Nigeria’s $30bn Reserves a Disincentive to Investors A former Governor of Anambra State, Mr. Peter Obi has said that the ongoing efforts by the federal government to attract foreign investments are being hampered by Nigeria’s low reserves, saying that the $30 billion reserves is a disincentive to foreign investors. Page 21
PROPERTY The Oceanna RedeďŹ nes
Nigeria’s Skyline An exquisite development,The Oceanna – born of the Ocean, is springing up at the Atlantic Oceanside inVictoria Island, Lagos. s. es The promoters, Grenadines Homes conceived it as a show‌ Page 28
INTERNATIONAL Sinai Attack: Egyptian Ambassador Assures of Victory over Terrorism Assem Mohammed Hanafi, has assured that his country and Nigeria will ultimately prevail over terrorism, even as he urged‌ Page 35
SPORTS New Two-year Contract for Rohr Pinnick announced yesterday that Super EaglesTechnical Adviser, Gernot Rohr, has been given a new contract till 2020 after he guided Nigeria to next year’sWorld Cup in Russia. Page 45
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
ATIKU’S ONE FOR THE ROAD?
Nnamdi Ebo writes that the former vice-president will likely face stiff opposition in the PDP
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One For The Road� as an expression or phrase first appeared in the early 1900s. It originated from travelling salesmen, who, after a night of drinking (often in a bar) or dealing with customers, sought one last drink (usually alcohol) before a journey, departure, going home or back to their hotels. Atiku Abubakar is a Nigerian politician, businessman and philanthropist who served as the second elected Vice-President of Nigeria (19992007) on the platform of the PDP. Atiku is a known teetotaler. However, in 2017 travelling to 2019, is Atiku drinking one for the road? In December 11, 2014, while seeking nomination as the All Progressives Congress (APC) presidential candidate for the 2015 presidential poll, the former Nigerian VicePresident presented his manifesto at the APC party convention in Lagos. In a throwback to Atiku’s political history in September 2014, during an interactive session with journalists, the politician said that the APC is his last bus stop. According to him, having defected from the Peoples Democratic Party (PDP) to APC, he would not be leaving the party for any other one. Like the travelling salesmen in the 1900s, did Atiku in 2014 take one last drink? Did the business mogul-turned politician reach his final bus stop when he said unequivocally that the APC is his last bus stop? A history of Atiku’s political travels in Nigeria includes the following: first governorship run (1990); first presidential run (1992); second governorship run (1998); Vice Presidency (1999-2007); second presidential run (2006-2007); third presidential run (2011); Atiku’s formation and registration of the Peoples Democratic Movement (PDM) with INEC as a back-up plan in case he failed to fulfill his presidential ambition on the PDP platform (2013); Atiku left the PDP to join the APC (2014); and Atiku is campaigning for true federalism and the need to restructure Nigeria (2017). It is now obvious that in 2014, Atiku was not drinking his last one for the road – again! On Friday morning November 23, 2017, the former vice-president announced his resignation from the APC. Atiku Abubakar, a leading ally of President Muhammadu Buhari, quit the “governing APC� on Friday. Is Atiku’s another one for the road a blow to government unity ahead of 2019? Atiku alleged a draconian clampdown of democracy in the APC, a derailment of its set objectives in governance and the abandonment of the Nigerian youth. In a statement issued on Friday, November 23, Atiku cited a leaked memo from Kaduna Governor Nasir El-Rufai to President Buhari in which El-Rufai cited fault lines in the APC which he urged the president to urgently repair. He noted that more than a year after the said memo, no action was taken to repair the breach. Atiku said the situation has worsened leaving him with no option than to leave the APC. He did not state his next intention, but there are reports of arrangements for him to register for his old party, PDP, in his hometown Kojoli, Jada LGA of Adamawa State. Atiku reeled out reasons for jettisoning APC: APC “has
IN ATIKU’S POLITICAL MINDSET, THE APC FAILED TO PURGE THEMSELVES OF ARBITRARINESS AND UNCONSTITUTIONALITY THAT LED TO FRACTIONALISATION AND FAILED TO STOP THE INSTITUTION OF A DRACONIAN CLAMPDOWN ON DEMOCRACY
failed and continues to fail our people . . . a regime of a draconian clampdown on all forms of democracy within the party and the government it produced�. It will be recalled that the APC was brought together chiefly to elect Major Gen. Buhari (rtd.), who campaigned on a platform of reviving Nigeria’s flagging economy, wiping out the country’s endemic corruption and defeating Islamist insurgency of Boko Haram in the northeast. In Atiku’s political mindset, the APC failed to purge themselves of arbitrariness and unconstitutionality that led to fractionalisation and failed to stop the institution of a draconian clampdown on democracy. Are these and his other reasons for leaving the APC credible reasons for leaving a party? What about exerting his influence within the APC to convince the party apparatchik, government policy makers and the presidency to stick to their mandate to the Nigerian people? Considering Atiku’s antecedents as a political turncoat whenever it suits his political expediency, is he playing a game of political chess? Chess is a board game of strategic skill for two players, played on a checkered board. It appears Atiku considers Nigeria as a board game of chess, to be played whenever one is seeking political office, especially the Nigerian presidency. The reality is that Atiku’s presidential ambition within any party is always thwarted by bigger fish seeking the same position as Atiku whenever his ambition is kindled. Was it just happenstance that Atiku was aspiring to become PDP presidential candidate when Olusegun Obasanjo was the anointed PDP candidate in 2003? Was it an untoward happenstance for Atiku when Buhari was the anointed APC candidate in 2014? If Atiku is thinking of running under his “new party�, the PDP, he must know, if he is a chess player, that they will be very big entrenched fishes in the PDP: Sen. Ahmed Makarfi, Sule Lamido, and others who will emerge. While Atiku may not be fearful of Ayo Fayose’s presidential aspiration in the PDP, it is on record that there was always happenstance in any party where Atiku chose to fulfill his ambition of ruling Nigeria. The PDP BoT Chairman, Sen. Walid Jibrin, said in 2016 that the party will not welcome “professional presidential aspirants� and “political harlots� who will aspire under PDP to run for the presidency in 2019. The party said it will stop those who are only interested in seeking positions and had been moving from one party to the other to realise their ambition. Atiku Abubakar has travelled and sold his politics to these parties, in this order: PDP, ACN, PDP, APC and PDP. He is now expected to travel to the PDP presidential primary for 2019 polls, to sell to the delegates what they didn’t buy from him in 2011. Like the travelling salesmen in the 1900s, is the Waziri Adamawa seeking one last drink – again? Or, is this just another Atiku’s one for the road? www.nnamdiebo.com
100 DAYS WITH ABUBAKAR
Mohammed Abubakar, Bauchi State governor, is doing remarkably well, writes Ali M. Ali
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ime flies. Rapidly, especially when you are constantly engaged mentally and physically. Time just whizzes. And this is even more so when you are walking with a go-getter like Mohammed Abdullahi Abubakar, Governor of Bauchi State. It is a whirlwind. The word “impossible� doesn’t exist in his dictionary. Once he sets his mind to a goal, there is no stopping him. May be his training as a lawyer, made him both a dreamer and a realist. He dreams of a competitive Bauchi that is ranked among the best in the country. He is real enough to invest in education as the surest bet to achieve the dream. His election as the fifth civilian chief executive of the state, against daunting odds, testify to his “can do� spirit. Odds don’t scare him. They inspire him. He was the underdog in a race some considered exclusively theirs. They underrated him. He was like a political midget in a combat designed for giants. The faint hearted will scamper to safety at the sight of a scaring scenario like that. Not M.A as he is fondly called by admirers and distractors alike. And he has both in disproportionate quantity. Stiff challenges, I have come to appreciate, walking with this unassuming leader, these past 100 days, are the tonic that galvanise him to life and action. He walks his talk. He keeps his promises. He calls when he says he will. He communicates. He delivers, the impatient may say nay. His strategy is simple- always. He confronts challenges, headlong, with the single mindedness of changing the narrative. He doesn’t circumvent them. He incinerates them. His sojourn into the not so cosy chambers of
power where political decisions are hammered on the anvil of necessity again, testify. The depressing state of affairs in Bauchi State was the cry for help, he hearkened to. All the indicators pointed at an imminent shipwreck. Workers were owed a backlog of salaries. Public sector education in the throes of death. Though the state is agrarian, agriculture has suffered great neglect in the past. And even more worrisome, was the heightened insecurity in the state caused, in the main, by a devastating insurgency, and to a lesser extent, poor governance at all levels. This was the legacy bequeathed MA 30 months ago. Before now, he was the top dog in his own law chambers, flourishing, by all accounts, with offices in key state capitals. An accomplished legal luminary, he attained maturity early. At 34, he was Commissioner for Justice and Attorney General. Excellent manager of men and materials. Widely exposed and travelled. At various times, he was resident electoral commissioner of INEC and later national commissioner in charge of legal service. The list is long. “So why jettison all these and join politics?� I pointedly asked him, before I was appointed Advisor on Media and Strategy. ‘’I wanted to serve and salvage the situation. I wanted to give back what my state has given me,� he said frankly, with no airs. For the 100 days we have been working together, I have seen how much service the man has rendered. His austere lifestyle, testify. No fancy motorcade. All the vehicles in his very austere convoyare inherited and old. Trips to Abuja are either by road or scheduled flights in neighbouring Gombe State, 150 km away. And certainly no fancy hotel accommodation in Abuja for
all personal aides including those in cabinet position. He sleeps in his personal residence located not in “choice� neighbourhood of Maitama or Asokoro. MA had since “disrobed�. He exchanged his wig, gown and dog collar for a mechanic’s overalls and got down and dirty in the huge workshop that is Bauchi. If it were a car, the first thing he did, to my mind, was to stop the massive oil leak and fuel consumption. There was huge haemorrhage. It manifested in a humongous workforce- 92,000- and even a more humongous wage bill monthly which takes all of the state’s FAAC allocation, which hardly goes beyond N5bn. Stopping the leaks served notice that it was not going to be business as usual. Scavengers of the status quo, expectedly, were incensed. Since then, they have been running from pillar to post, running their mouths, bellyaching. No minute is wasted. Every second matters. It is always a whirlwind with MA. No dull moment. These past 100 days have been action packed. The man is always in ‘over drive’ fixing the sea of problems, anxious to reposition the state, desirous of making it more competitive. In the first 100 days of his leadership, he set the tone of his administration. He cleared the backlog of salaries. Labour was ecstatic. It hailed him. Today Bauchi is one of the few states that pay salaries unfailingly every month. Beyond labour,accolades and recognition poured in these past three months. One was an honorary doctorate degree by a foreign university based in Benin Republic. With thrift bordering on ‘tight fistedness’, MA is reforming all sectors and renewing urban and rural communities. Over 400 kilometres of roads are being
constructed or rehabilitated across the state. For two consecutive years’ budget, education takes the lion’s share of 20%, 6% shy as recommended by the UN. This wise investment has seen the rise of the percentage of passes in WAEC and NECO from a dismal 3% in 2015 to 27% in 2017. Over 10,000 classrooms constructed and rehabilitated, a similar number of classrooms furniture supplied. The state fertiliser blending company, hitherto, comatose resuscitated and given life. Ditto the state-run furniture company. This year’s farming season saw farmers from neighbouring states trooping to Bauchi to buy cheap fertiliser. His reforms extend to housing, rural water supply and improved security. Bauchi is now relatively peaceful. Insurgent elements have lost their potent. Thanks to the counter insurgency administrators and the government of the state. Improving IGR has seen the state hidden treasure as a tourist heaven, the Yankari Game Reserve given a new lease of life. MA is deep. Intellectually profound and a powerful communicator. He could hold his audience spellbound by his oratory in the audience’s given language. I have seen him address an exultant bunch of grateful Bauchi State students who converged on Government House in appreciation of changing their fortunes. Amid thunderous applause, he spoke their language. Two interactions lately told me a lot about the man. He reads every line in any correspondence to him. In matters of funds, he scrutinises every word. And if he is not convinced, he tarries and queries. There the whirlwind stops. Still these past 100 days were like a whirlwind. Ali is an aide to Governor MA Abubakar .
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EDITORIAL THE JUDICIARY AND CRISIS OF CREDIBILITY All the stakeholders should work to restore integrity to the bench
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pparently disturbed by the crisis of credibility that has for long dogged the judicial arm of government and the damage it is inicting on national psyche, President Muhammadu Buhari last week listed areas for urgent reforms. At the judges’ conference, aptly titled “Strengthening Judicial Integrity and the Rule of Lawâ€? in Abuja, the president highlighted some of the ills that impinge on the administration of justice in Nigeria. “Reform of the judiciary should start at eliminating endless delays,â€? he said while expressing concerns that even superior courts give contradictory decisions on the same subject matter in cases “where facts are substantially the same without a clear attempt in subsequent cases to distinguish the earlier cases.â€? We share the view of the president that the crisis of credibility aficting the Nigerian judiciary has reached a critical point, just as we agree on an urgent solution that must begin with the judges, many of whom are not only corrupt, but are indeed wilfully so. In Nigeria today, justice has more or less THE JUDICIARY NEEDS been commercialised TO RISE ABOVE and often “givenâ€? to SELF, POLITICAL the highest bidder. AND PECUNIARY Also, many of the judges have scant INTERESTS AND REACH regards for due process COMPREHENSIVE AND and, as the president FAIR SOLUTIONS THAT also observed, they ARE TRANSPARENT AND take their time in DECENT reaching judgment, against the rules of procedure of our courts which prescribe speedier process. This is sometimes made worse by reliance on taking notes in longhand in an age of technology and relying on colonial-style bailiffs to serve notice on litigants. Against the background that under the Administration of Criminal Justice Act, 2015 the practice of staying proceedings in criminal trials has been abolished, most of the developments in our courts are untenable. While
Letters to the Editor
trials should ordinarily be conducted day by day with adjournment, if any, not expected to last more than 14 days, senior lawyers have been going round this through the illegal practice of subjecting witnesses to unending cross-examinations, sometimes lasting several days and weeks. Indeed, the perception was so bad that the Buhari administration, in a ďŹ t of impatience late last year, took the laws into its own hands by raiding the homes of some senior judges, including Supreme Court justices, for alleged corruption. While that episode stands condemned, there is no doubt that the rot in our judiciary calls for urgent measures in the overall interest of the country.
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hile marking the commencement of the 2017/2018 Legal Year, the Chief Justice of Nigeria (CJN), Justice Walter Samuel Nkanu Onnoghen, indeed, announced widespread reforms in the judiciary that would give bite to the federal government’s war against corruption. He ordered the heads of courts to designate at least one court in their various jurisdictions as special courts solely for the purpose of hearing and speedily determining corruption and ďŹ nancial crime cases. For effectiveness, he also ordered heads of courts to clamp down on both prosecution and defence counsel who indulge in the unethical practice of deploying delay tactics to stall criminal trials. As we have repeatedly reiterated in this space, the judiciary is not just any institution: it is an important arm of government that knits human society together. Yet the function of law as instrument of social engineering is made difďŹ cult by the corruption of judges. From the deliberate delays in the administration of justice to the culture of tardiness and corruption which robs the institution of its impartiality, fairness and independence, there is an urgent need to heed Buhari’s charges and restore integrity to the bar and the bench in Nigeria. The judiciary needs to rise above self, political and pecuniary interests and reach comprehensive and fair solutions that are transparent and decent. All the critical stakeholders must work to restore integrity to the bar and the bench in Nigeria.
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THE BUHARI EFFECT ON AGRICULTURE
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can recall that between January 1984 and August 1985, the War against Indiscipline (WAI) of the administration of Muhammadu Buhari integrated an aspect that encouraged youths who drifted to urban centres to return to their villages and engage in agriculture. At the time I was the Zone A chief correspondent of the Daily Times of Nigeria based in Kaduna. My responsibility included ensuring that the newspaper’s reporters and correspondents in the zone, which comprised the Federal Capital Territory, Kaduna, Kano, Katsina, Niger, Sokoto, Kebbi and Zamfara States, sourced and filed news items that should be regarded as scoops or just topical and relevant enough to make readers of the Daily Times in those states feel and believe that it cared about issues and activities concerning them sufficiently enough to give such publicity. Reports on agriculture and food security formed a large chunk of our collective effort at the time. One of the important stories of the time, which the Daily Times scooped others by breaking it, was on the impact made by the administration’s campaign to encourage the youths to go back to their villages from the cities and embrace agriculture. Millions of youths and even people outside the age bracket of the youths, heeded the call, went back home, and indeed, tilled the land on a massive scale. The outcome was a bumper harvest. And as President Buhari recently testified to the bounties of the 2016 and 2017 wet seasons in terms of the divine blessings of sufficient rainfall leading to bumper harvest, the 1984-85 harvest season was one of the most bountiful in this country. The 1984-85 harvest season was so bountiful. Farmers all over the country have filled up their granaries with stable foods and had
much surplus to take to the market. The prices for grains such as maize, millet, sorghum and cowpea crashed to the extent that in some states and local government areas, corn stalk used in construction and feeding animals fetched more money for the farmers than grains. The Daily Times described the situation as Burden of Bumper Harvest. In the 2016 and 2017 wet seasons, President Buhari and many of those familiar with the agriculture sector in Nigeria, have rightly acknowledged that the encouragement given to Nigerians to engage in agriculture, adequate rainfall and the availability and accessibility to agro-inputs by farmers at the right time and at reasonable prices, combined to lead to bumper harvests in the two seasons consecutively. The big effort in rice production for instance, especially through the N45 billion Anchor Borrowers Scheme which facilitated access to credit for rice farmers in 30 states, the rehabilitation and expansion of irrigation facilities and the gradual revival of extension services, have boosted food production in general and caused a gradual, but surely, steady downward slide in the price of rice, a politically-sensitive, otherwise inferior cereal. Even though the prices of foodstuff, including all grains, legumes and roots and tubers did not fall drastically at the peak of the harvest period as was the case in 1984-85 harvest season, their availability in the market and affordability are not in doubt. Thus the consumers have what they need and the farmers receive near-appropriate prices for their wares. The Buhari effect on agriculture has simultaneously fostered happiness both among farmers and consumers. Each side is getting its fair share of value: appropriate prices for wholesome commodities and affordable prices of home-grown commodities of high quality,
respectively. The Buhari effect has other dimensions too: at the political level the president is certainly no longer pondering on which country to go on “exile� on account of failed wet seasons and consequential food scarcity in the country. It has equally reduced our food dependency on other nations and narrows the country’s balance of trade gap. A government agency recently announced that more than N250 billion which would have been spent on the importation of rice has been saved as Nigerians prefer local rice, which floods the market, to imported foreign, probably expired, rice. The Lagos State Government has given the strongest testimonial to this with the LAKE rice which Lagosians purchase in their droves whenever it is on offer. The rice is largely from Kebbi State where 78, 000 rice farmers are cultivating about 100, 000 hectres of rice farms. The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele recently announced that the quantity and value of rice imported into Nigeria from Thailand has fallen by 99 per cent from 1.2 million metric tonnes in 2012 to only 784 metric tonnes in 2016, with a saving of over US$600 million on rice imports from that country alone. In fact, rice importation has fallen to the extent that Nigeria’s foreign rice suppliers are feeling the effect. And the Minister of Agriculture and Rural Development, Chief Audu Ogbeh is so upbeat that he has envisaged a time under the watch of the President Buhari-led administration when a 50 kilogramme bag of rice would be available for N6, 000 to consumers. Salisu Na’inna Dambatta, Federal Director Of Information
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POLITICS
Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY
EXECUTIVE BRIEFING
Unending Friction over Constituency Projects The refusal of the executive to release funds for the execution of constituency projects despite appropriation, has made federal lawmakers uncomfortable and is threatening the fragile relationship between them and the executive, writes Damilola Oyedele
I
t is no longer news that under the administration of President Muhammadu Buhari, the executive and the legislative arms of government have not enjoyed a relationship that can be classified as smooth and cosy. The genesis of the cat and mouse relationship can be traced to the manner which the leaders of the National Assembly emerged, much to the consternation of the presidency and some chieftains of the All Progressives Congress (APC). The matter of the constituency projects has however been another source of constant friction between them. The constituency projects , implemented under an annual N100 billion Zonal Intervention Fund, are social intervention projects facilitated by lawmakers to their constituencies during budget cycles. The general belief among executive appointees is however that much of the N100 billion end up in the pockets of the lawmakers who lobby same executive appointees to ensure the contractors they choose get the contracts for the constituency projects. It therefore remains a ‘carrot’ between both arms of government. The first indication that the constituency projects may be a cause of friction under this administration was when the sacked Secretary to the Government of the Federation, Mr. Babachir Lawal in 2016 said the government had no money to implement them, and that they were not a priority. He repeated his statements when summoned before a committee of the National Assembly. Since the statement was never disowned by the presidency, it may be safe to assume that he was speaking the mind of his principal. In any case, subsequent events lent credence to the posture that the presidency would not release a dime of the ZIF, if it had its way. Infact in late 2016, it was only after members of the House of Representatives insisted they would only approve executive requests for a $30billion external borrowing plan request of the Federal Government, the Medium Term Expenditure Framework (MTEF), and virement of N180 billion in the 2016 budget to fund capital and recurrent items, that Buhari began to release the N100 billon ZIF. About 80 percent of the funds was eventually released for implementation of the projects after intense negotiations, THISDAY gathered. In 2017, there has however been zero releases so far, a development, which holds dire consequences for lawmakers, particularly first timers. The 2017 budget was only signed into law in June 2017, and with the proposal for the 2018 budget to take effect from the beginning of next year, the 2017 implementation level is put between 15-22%. The 2017 budget is however very significant for lawmakers because it is the last budget before the campaign year (2018 is considered campaign year). The non execution of the constituency projects therefore means they have little (from previous years) or nothing to show on ground in their constituencies to justify retaining their seats. Disenchantment at 2018 budget presentation The president’s audience for the budget presentation was therefore to a disenchanted lot, who were miffed at the zero release of the ZIF. There were reports that some dissenting voices were planning to boo the president at the presentation, while there were also reports that some members of the opposition Peoples Democratic Party were planning to raise protest placards. These were however shelved after intense lobbying by the leaders of the National Assembly. Murmurs were however palpable during the president’s speech resulting in his being interrupted several times.
Senate President, Dr Bukola Saraki
Lawmakers Speak Senator Ben Murray Bruce (Bayelsa PDP) in a phone interview with THISDAY before the budget presentation, wondered why the constituency projects wee being demonized, particularly when the projects are meant for the citizens. “Last year my constituency project was providing solar power, so children can do their homework at night. This year, its agriculture (fish, corn, rice) , people have to feed. If I do these, how would that have a negative impact on the economy, and why would the government not fund such projects? None of the projects benefit me, they benefit the people who voted me into office. So constituency project is not a bad word, not a bad thing to do and I am glad we have it in the budget. I hope they fund it,” he said. Bruce added that failure to implement the projects pitches the people against their representatives. “If you promise a link road that costs N20 million, and you do not have the link road, then people are angry. If you promise a borehole because people have dirty water and they have monkeypox, because of the dirty water and dirty environment, and you cannot provide clean water, then they are angry,
The constituency projects are for Nigerians and not for the members of the National Assembly, who are only sponsors
Speaker, House of Representatives, Yakubu Dogara
because they put you into office and you cannot provide them clean water,” he said. “In a place like Bayelsa which is riverine, no toilets anywhere, people use the bathroom (ease themselves in the waters) and drink it at the same time, are you surprised there is monkey pox? So something as simple as water, which does not benefit the senator or the House of Rep (Representatives), it benefits the poor man who needs clean water, and then you do not deliver, first you have sick people, you have an epidemic, you have angry people, people who cannot understand that in a modern economy, some people do not have clean water to drink, who do you blame?” the Senator added. Hon. Kingsley Chinda (Rivers PDP) accused the executive of using the constituency projects alongside allegations of jumbo pay, to sabotage and blackmail the legislature, as part of a scheme to cow the parliament. This, he said, has constantly caused the friction between both arms of government. In an interview, he emphasized that the constituency projects were for Nigerians and not for the members of the National Assembly, who are only sponsors. To deliberately refuse to implement the projects is unfair and therefore an offence against the people, he said. In any case, since the projects are part of the appropriation law, refusal to release the ZIF translates to infringing on the law, Chinda argued. “The executive prioritizes projects in the Appropriation Act which is not lawful and of course constituency projects no matter how good and dear to the people are not the priority of the executive. Heads of MDAs (Ministries, Departments and Agencies) also have their personal projects, and since they execute, such projects are of greater interest to them. The constituency projects therefore suffer, and the legislators who have made promises to their constituents, of course will frown at that,” he added.
The lawmaker however noted that while the proper execution of the constituency projects may enhance the chances of a legislator at retaining his seat, it takes more than just that to be re-elected. Similarly, Hon. Dennis Agbo (Enugu PDP) also described as unfair the refusal to release the ZIF. Speaking with THISDAY, Agbo said the projects were the most widespread dividends of democracy, which the Nigerian people could enjoy across the 360 constituencies and 109 senatorial districts. “It is the expenditure of government with the greatest mileage and beneficial impact. The projects are close to the people and are selected based on the representative’s assessment of priority needs of the people. Whoever does not appreciate this fact about ZIF is definitely not fair to the Nigerian people and is not serving their best interest,” Agbo said. “Imagine that a total amount of N100 billion Zonal Intervention, representing a mere 4.5% of the capital budget, will have such a significant impact! Contrast this with the amount of benefit we expect from the balance of 96% capital budget,” he added. Agbo argues that no matter the number of bills or motions a lawmaker gets passed, he does not stand much chance to retain his seat if there are no projects on ground with direct impact on the people. Conclusion The constituency projects, when implemented do indeed have a direct impact on the beneficiaries at the constituency. Instead of the continued cat and mouse relationship over it, the executive has the responsibility to block whatever leakages it perceives are being perpetrated through the projects. In any case, the executive needs to look inwards; it if insists that legislators pocket some of the money from the ZIF, it should realize that this is only possible through connivance with its own members.
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T H I S D AY Ëž TUESDAY, NOVEMBER 28, 2017
PERSPECTIVE
Buhari Steadily Retrieves Nigeria from the Brink Contrary to popular perception, Sunny Amadi argues that President Muhammadu Buhari has restored the derailed train called Nigeria
B
eing a professional in the oil and gas sector appears to have stripped me of emotions as in my daily routine; you either face reality or go under in accordance with the dictates of empiricism. That being the case, I am accused of lacking in emotions and dishing out compliments. However, while the quantum rot robs the gains of the present leaps of President Muhammadu Buhari, a retrospective glance at what used to be and how far we had slithered into near abyss would enlarge the contemporary into a gargantuan. However, since dwelling in the past has never produced any developmental advancement, I will resist reminding us where we were yesterday during the year of the locust but will bring before Nigerians who are albeit, a study in behavioural amnesia for forgetting too soon. We were actually very close to the gorge in all indices of development and good life. Arguably, the central cause of lack of development has been fingered as corruption which appears a justified axiom as not even an extreme instance of kleptomania can explain the level of criminal capital accumulation which broke the glass ceiling in Nigeria. Those were times when the entire crude oil sales of the whole nation ended in the pockets of lackeys and minions who could before they were made lords of the oil sector, could hardly afford a first class ticket of any airline but suddenly transmogrified into controllers of our common patrimony. That was the level of sleaze which Buhari had to contend with. One could say without any fear of contradiction that corruption was the order other than exception which tarred the image of Nigeria even beyond the shores of the African continent. One platform that earned him the ears and confidence of the international community was the fight against corruption as well as the fight against terrorism. Buhari came to the saddle with a strong will which he has amply demonstrated on both fronts. As at the time he took over power, Boko Haram insurgents were in control of most parts of the North-east. Perhaps, the best way to appreciate what difference he has made in leading Nigeria out of near comatose state would be a sectoral look at what it is now since it is easier to take things for granted once they no longer bug the people. To underscore his seriousness, the President ordered that the Military Command Centre be moved to Maiduguri which yielded immediate results. Territories have been recovered and no fewer than 11,595 persons seized by the insurgent freed. This flowed from rijiging the security architecture of the country that included going for state-of-the-art hardware as against the former practice of buying scraps through phony defence contracts. The transparency and seriousness of the government led to neighbouring countries joining a common platform where 8,500 strong Multi-National Joint Task Force based in N’Djamena, Chad, currently headed by a Nigeria military general was put in place. To underscore the commitment of the government to clearing the Boko Haram threat, it is committing over $100 million into the project. Several world bodies have already bought into it both to rehabilitate the displaced and to rout the insurgents who have been besmirched. Countries that refused to sell arms to Nigeria for myriad of reasons have, based on assurances and trust, commenced sales and supplies. Generally, security was at its lowest ebb when he came to power but his sterling qualities also touched the police force where he ordered the recruitment of over 10,000 personnel to reduce the gap in the police coverage ratio in accordance to the best global practices. GSM tracking devices and a forensic laboratory which were hitherto thought to be wishful acquisitions have been put in place and yielding fruitful results. Sea piracy which had made the Gulf of Guinea, 65 per cent of which is under Nigeria a no-go area has with reorganisation of the
Buhari
Navy and enthroning a responsive regime in NIMASA, coastal and inland waterways have become safe. Again, illegal oil bunkering, gas and crude pipeline vandalism were the order of the day until through grit of diplomacy and valuable intelligence gathering, have been put in check while the crude oil output has crossed the 2 million barrels a day mark Right from the 2015 campaign period, Buhari had been known as Mr. Integrity and by the time the elections were over, a leave township order had become the unwritten code for looters. He set up a frame work for tackling corruption and institutionalise probity by setting up an Advisory Committee on War Against Corruption. For once in a long while, justice against corruption wore the blind toga and strikes at anyone guilty of putting his hand into the till. He followed up with bilateral and multilateral agreements
The best way to appreciate what difference he has made in leading Nigeria out of near comatose state would be a sectoral look at what it is now since it is easier to take things for granted once they no longer bug the people
on repatriation of looted funds. He operationalised the Treasury Single Account system to stop the bleeding of the treasure by revenue collecting agencies and banks. Within a short time, over a trillion naira was saved through that. To ensure that high profile cases are not frustrated in the court, special courts are in the works to expeditiously dispense with cases instead of the practice where corruption cases are stalled with interlocutory injunctions. Already, several people who dispensed with the monies of the country without following due processes are either in detention or undergoing trail, a situation that has sent a strong signal that there are consequences for those who run against the law. Procurement policies of the country have been standardised leading to transparency and plugging of avenues through which the economy nearly bled to death. Individuals and companies have been refunding billions to the federal government. One of the greatest shocks to the economy of the country is the overdependence on oil revenue which occasioned a debilitating shock on the economy when oil prices plummeted. While previous administrations had been paying lip service to the diversification of the economy, Buhari has gone a step ahead to put more items on the import prohibition list and thereby stopped the outflow of hard earned foreign exchange. While Nigeria imported what she ate, the present administration has ensured that the country produced what it eats. The import bill has dropped by more than half while agricultural products are even being exported. The accounting system of the Nigeria National Petroleum Corporation NNPC which was at best opaque has been reconstructed to ensure transparency with the closure of more than 40 accounts; resolved suspicious oil swap deals that had cost the country billions
of dollars and made oil money accruing to the country to only benefit a few people. To put a human face to the his administration, Buhari on seeing that civil servants and pensioners were owed salaries and pensions, devised what would have qualified as a doctrine of necessity by creating bailout funds for states. The bailout served dual purposes of helping to reflate the economy which was in recession and put food on the table of the poor civil servants, pensioners and their dependents. In line with his scrupulousness, he ensured that the federal payroll was cleaned up and no fewer than 40,000 ghost workers weeded off the list thereby saving nearly N3 billion monthly. The strict implementation of BVN with banks also pulled the rug off the feet of those who use banks to hide their illicit loots. Apart from straightening the book of NNPC and cleaning up Joint Venture partnership agreements, he ensured that outstanding annual audits from 2011 to 2014 were put together and made public for transparency purposes. To further stem loss of revenue, he did away with Offshore Processing Agreement (OPA) and replaced it with the Direct Sales and Direct Purchase (DSDP) scheme with reputable off-shore refineries thereby yielding annual savings of US$1 billion. Other interventions include turning around the Port Harcourt, Kaduna and Warri refineries thereby stimulating local refining and supply of products. Plans are also afoot to site modular refineries which will not only increase refining capacity of the country but will also transfer skills among others. While most people appear to be concerned with how much power Nigeria generates little is known of the lack of transmission capacity of the generated power. However, Buhari has increased power generation which was at less than 4000 megawatts to over 6000 megawatts with possible increment to over 10,000 megawatts. As at the time he took over power, the transmission capacity of the country was less than 3500 megawatts but within the period, he has increased it to nearly 7000 megawatts. Facilities are being garnered to address other challenges of the sector like the 50 million Euro (about N11.15 billion) loan agreement with French government for capacity-building and upgrade of power training facilities in Nigeria; the $237 million agreement with World Bank to improve power and signing of agreements with some Chinese companies for the incremental supply of electricity through solar generation. The railway system that existed on contract papers are now running while areas yet to start are receiving attention. Narrow gauge lines are being expanded to standard gauge while the Lagos-Ibadan-Kaduna line will soon come on stream while plans for funds to get back the Port Harcourt-Aba-Maiduguri line are being sought for. There are so many areas the president has positively touched on the lives of Nigerians which is restoring the country to its pride of place and deepening democracy especially through the policy of non-interference which has seen other parties winning elections based on appeal and popularity thereby consigning to the trash-can of history, the period where security forces and other government apparatchik were used to swing elections in favour of the ruling party. Work has started in ernest at the abandoned East-West road while processing of the Ogoni remediation project is nearing completion for the exercise to begin. Works on abandoned road projects across the country are beginning to get attention again with proper funding of such projects. To further give pep to his words on attending to the yearnings of the Niger Delta people, Buhari released N5 billion for the take off of Maritime University, Okerenkoko and Assenting the Federal University of Petroleum Resources in Effurun as a university . Buhari has really restored the derailed train called Nigeria so it can run on good tracks.
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TUESDAY, NOVEMBER 28, 2017 ˾ T H I S D AY
FEATURES
Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com
Delta Communities Embrace ‘Crocodile Smile’ Sylvester Idowu reports on how residents of communities in Delta State benefitted from the Nigerian Army’s free medical outreach as part of its military exercise in the Niger Delta region
S
eventy- year-old Wonder Abul sauntered into the military tent set up by 222 Battalion of the Nigerian Army in his Ogbogbagbene, an Ijaw community in Burutu Local Government Area of Delta State. To his dismay, he saw hundreds of people, mostly women, aged and kids chatting with soldiers. This was strange to him. As he moved further, he again saw another set of people consulting with and attending to patients in the presence of heavy presence of soldiers in another close by tent. "I was shocked seeing soldiers in my community which is Ijaw. Soldiers were here before in pursuit of militants and we know what we went through. So seeing heavy presence of the military again made me jittery initially but I later learnt they are here to help us," he told THISDAY after he had met with some of the soldiers. But what is it that caused the heavy presence of soldiers into that community this time around. A teacher in the community’s primary school, Joseph Bebefagha, clutching some drugs, said the military came to the community to offer them free medical services. He said he had been attended to by the medical team. “I was surprised because people had thought when the military comes there would be threats, but there was nothing like that. When they came the approach they came with was nice. I have been attended to for malaria and to de-worm,” Bebefagha said. Both Abul and Bebefagha were amongst thousands of people in various communities in Delta State that benefitted from the Nigerian Army's free medical care as part of the Operation Crocodile Smile recently launched across the Niger Delta region. Contrary to the campaign by some local civil organisations to boycott the exercise, the people, mostly aged, women and children thronged the Ogbogbagbene, an Ijaw community in Burutu Local governent and Ugbokodo, an Itsekiri community both in Delta State, to benefit from the exercise which commenced last October, simultaneously. Addressing beneficiaries at Ogbogbagbene, the Brigade Commander, 4 Brigade, Brigadier General Ibrahim Garba, explained that its ongoing exercise; ‘Operation Crocodile Smile II’, has no aggressive intention, but designed to firm up its already existing security design for the communities. He said at the kick off of a medical outreach put together by the 222 Battalion, held in Ogbogbagbene, that the exercise
Both Wonder Abul and Joseph Bebefagha were amongst thousands of people in various communities in Delta State that benefitted from the Nigerian Army's free medical care as part of the Operation Crocodile Smile recently launched across the Niger Delta region
Eldest woman in Egbokodo-Itsekiri Community, Titi Ajisha, being checked by one of the Army's doctors during the free medical programme marking the Exercise Crocodile Smile II...recently
Medical outreach at Ogbognagbene in Burutu Local Government Area of Delta State by the 222 Battalion, Nigerian Army
was part of the army’s role in fulfilling government’s primary duty of protecting lives and property of Nigerians. Garba said the medical outreach was a way for the army to draw the civilian populace close enough to understand the
army’s intentions. “Everything we do is done for the betterment of the community, we are here to provide security for the community, protect lives and property and the exercise Crocodile Smile, as I said earlier, is just to
rejuvenate the existing security architecture that we already have on the ground, to make it more effective for this period. “There are other security challenges that are militating against the developmental goals of either the local government, the
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FEATURES This medical outreach is just one of the programmes that are designed to bring the community closer to us so that they’ll be able to know our real intentions; we are not here to harm anybody‌We have come with open arms, with good intentions and that’s why we are doing this, so that the populace can be free with us and give us the needed cooperation that we desire
Commanding OďŹƒcer 3 Battalion, Eurun, Major Ahmed Abdulkadir, addressing beneďŹ ciaries of the medical outreach
Some of Egbokodo-Itsekiri Community women waiting for the Army;s medical doctor
A resident receiving treatment from the Army's medical team
state or the country at large. So by providing security cover, protecting lives and property, we will be able to play our own bit in ensuring that the developmental goals of government are achieved. That’s basically why we are here.
“This medical outreach is just one of the programmes that are designed to bring the community closer to us so that they’ll be able to know our real intentions; we are not here to harm anybody. As I earlier stated, people might be having fears that the army
has come and be wondering what we have come for. We have come with open arms, with good intentions and that’s why we are doing this, so that the populace can be free with us and give us the needed cooperation that we desire,� Garba noted.
Some members of the community who took advantage of the exercise told THISDAY that most members of the community, who heard of the operation before it came had been apprehensive, but were surprised to see soldiers coming out with free medical care for them. At the Ugbokodo-Itsekiri Community medical outreach which was anchored by 3 Battalion of Nigerian Army, Effurun, Sector1 Commander of the Joint Task Force (JTF), Colonel Alhassan Grema, enjoined residents to embrace the free medical programme as well as help the Army with useful information during the exercise. He explained that the exercise Crocodile Smile II was an avenue for the Army to train its personnel on how to deal with contemporary challenges and assured the people of the area that they have nothing to be afraid of if they are not criminals. "You have nothing to fear if you are not a criminal. Enjoy our free medical outreach and cooperate. If you have any information that can help us in the exercise, we welcome it. It is in continuation of the first edition of this exercise. Last year, we had exercise Crocodile Smile I. This is exercise Crocodile Smile II. It's not much. We are just using it as an avenue to train our personnel on how to deal with contemporary challenges." Also addressing the beneficiaries, Commanding Officer, 3 Battalion, Major Ahmed Abdulkadir, begged residents to report any areas of "critical security challenges" to the Army and other sister security agencies as well as provide same with vital information on areas that are of threat to them. He said the exercise Crocodile Smile II was in synergy with all other security agencies including the Police, Department for State Security and other security agencies stressing that the Army was in the community to ensure that criminals were gotten rid of in the community with exercise Crocodile Smile II. "Operation Crocodile Smile II is an all encompassing operation which involves both civil/military cooperation activities of the Army that will rid the entire area of criminals and lawlessness. "This is just one of the series of activities lined up for the ongoing Operation Crocodile Smile. It is a way of bringing the Army closer to the people, just a way of telling the people that the Army is here for them." "The people of Egbokodo-Itsekiri Community are most lucky to be the first beneficiaries of this ongoing exercise Crocodile Smile II. Much more civil/military cooperation activities will still be conducted as events unfold." Spokesman of Egbokodo Community, Mr. Joseph Tete, disclosed that there was "no military intimidation" saying the Army has come to help them. Tete commended the Army for the free medical care provided indigenes of the community. "We need more of this often to take care of our health. Thank you. They've tried a lot to bring the programme to our community.
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IMAGES
L-R: The Chairman, Mutual BeneďŹ ts Assurance Plc, Dr Akin Ogunbiyi being presented with the Patriot Award of ICON of Insurance Industry 2017 by the Chairman of the Occasion, Mazi Sam Ohuabunwa during the 2nd Anniversary of Global Patriot Newspaper in Lagos... recently
L-R; Japan External Trade Organisation (JETRO) Senior Director for Global Strategy, Africa Mr. Makoto Matsumura; President, Lagos Chambers of Commerce and Industries (LCCI) Chief Mrs Nike Akande; JETRO Vice President/Head of Africa, Dr Katsumi Hirano and JETRO Trade Commissioner/Managing Director Mr. Taku Miyazaki during the signing ceremony of Mou between LCCI and JETRO in Lagos...recently
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Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×
L-R: Group Head, Customer Relationship Management, Nigeria Inter-Bank Settlement Systems Plc, Mr. Dapo Adeosun; Managing Director, Global Accelerex Ltd, Mr. Tunde Ogungbade; Chairman, Committee of e-Business Industry Heads (CeBIH), Mr. Dele Adeyinka and Chief Operating OďŹƒcer, Global Accelerex Ltd, Mr. Kayode Ariyo, at a press conference on the forth-coming POS Innovation Summit in Lagos.....recently Kola Ali
-R: Product Manager, Indomie Noodles, Mariam Adeyemi receiving Food Product Manufacturing Company of the year (Noodles) Award from the Publisher and Chairman of The Guardian newspaper, Lady Maiden Alex-Ibru at the Guardian Manufacturing Excellence Awards in Lagos... recenlty
L-R; Directorate Head, South, Skye Bank Plc,Ayo Abina; GMD/CEO, Skye Bank, Tokunbo Abiru; CEO, November Productionss/Top Nollywood Producer, Charles Novia; Assistant Director, CBN, Dayo Olomo and Head, Strategic Brand Maanagement, Nduneche Ezurike at the formaal launch of SkyeExperience Television Commercial in Lagos...recently
L-R, Deputy President, Engr Adekunle Mokuolu;Honorary Fellowship Conferee, Mr Alfred Irabor Okoigun and President the Nigerian Society of Engineers, Engr Otis Oliver Anyaeji at the the Nigerian Society of Engeers National Engeering Annual Conference and Annual General Meeting with theme ‘DiversiďŹ cation of Nigerian Economy; Engeering Persprctive’ held in Abuja....recently JULIUS ATOI/THISDAY IMAGES
L-R; National President, Nutrition Society of Nigeria, Dr. Batholomew Brai; Corporate Aairs Director, FrieslandCampina WAMCO Nigeria Plc Mrs. Ore Famurewa; Permanent Secretary, Ministry of Education, representing Deputy Governor of Lagos State, Mrs. Adebunmi Adekanye; and Marketing Manager IFT, FrieslandCampina WAMCO Nigeria Plc. Zatur Hassim at the launch of the Peak 456 Drink Move Be Strong Pre-school Programme held in Lagos, recently
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FOR REGULAR POWER SUPPLY
L-R: Managing Director/Chief Executive OďŹƒcer, Benin Electricity Distribution Company (BEDC), Mrs. Funke Osibodu; Nigerian Electricity Regulatory Commission (NERC) Commissioner, Dr. Moses Arigu; Minister of State for Power, Hon. Suleiman Hassan Zarma and Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, during the 21st power sector and stakeholders meeting held in Asaba, Delta State‌recently
Obi: Nigeria’s $30bn Reserves a Disincentive to Investors Ejiofor Alike A former Governor of Anambra State, Mr. Peter Obi has said that the ongoing efforts by the federal government to attract foreign investments are being hampered by Nigeria’s low reserves, saying that the $30 billion reserves is a disincentive to foreign investors. Obi has also argued that Nigeria plunged into recession as a result of her failure to save oil revenue like other oil-dependent economies, adding that Nigeria was the only country that depends on extractive industries that failed to save during the period of boom. The former governor, who
ENERGY delivered a thought-provoking speech on “Changes in Global Oil Price and Impact on Nigerian Economy – Lessons from the Recession� at the 35th international conference of the Nigerian Association of Petroleum Explorationists (NAPE), which was held in Lagos recently, said Nigeria had the lowest reserves and GDP among the MINT countriesMexico, Indonesia, Nigeria and Turkey. According to him, Mexico with a population of about 130 million has a GDP of 1.3 trillion; Indonesia has a GDP of one trillion and reserves of
$102 billion; while Turkey, with a population of 80 million and GDP of 800 million, has reserves of over $100 billion. Obi noted that Nigeria with a population of over 170 million, has GDP of 400 million and reserves of only $30 billion. The former governor argued that crude oil remains the major driver of the economy, stressing that oil was also responsible for the recent economic recession, even though oil accounts for only 10 per cent of the country’s GDP. He supported his position with statistics, which reveals that the recession started in the first quarter of 2016 when oil sector GDP dropped 4.8 per
cent, while the non-oil sector dropped by only 0.8 per cent, with the country’s overall GDP slumping by 0.67 per cent. According to him, the recession worsened in the second quarter of 2016 as the oil sector GDP dropped by 11 per cent when the non-oil sector GDP and the country’s overall GDP dropped by 0.38 per cent and 1.67 per cent, respectively. In the third quarter of 2016, Obi pointed out that the recession was deepest as oil sector GDP dropped by a whopping 23 per cent even though the non-oil sector GDP was positive. To further demonstrate the Continued on page 22
Fayemi Calls for Removal of Mining from Exclusive List Kasim Sumaina in Abuja The Minister of Mines and Steel Development, Dr. Kayode Fayemi, has called for the removal of mining from the exclusive list to concurrent legislative list to allow states play more prominent roles in mining in the country. This, he noted, became necessary in order to make the mineral and mining sector more profitable. Fayemi disclosed this in his keynote address at the fifth annual lecture of the School of Management Technology,
MINING Federal University of Technology, Akure (FUTA), Ondo State. Fayemi, in the lecture titled “Mineral Resource Management for National Cohesion and Progress�, said the present situation where state governments were not adequately involved in the administration of mineral titles despite bearing the brunt of impact of resource exploitation, is grossly affecting the growth of the sector. The minister, according to a statement by his Special Assistant, Olayinka Oyebode
on Sunday, in Abuja, said: “The country needed to take a cue from her experience in the oil rich Niger Delta, where oil riches rather than cementing national cohesion, became a source of discord and a toxic bone of contention in the polity and where decades of oil exploitation have resulted in a legacy of ecological degradation, trans generational poverty and violence.� According to him, “The critical difference between resource-rich performers and resource-rich underperformers is simply resource management.
We must now end this grossly self-destructive culture of governmental, economic and political irresponsibility.� Fayemi added: “The constitution ordains the exclusive jurisdictional hegemony of the federal government over mining matters. The responsibility for licensing and regulating mining operations resides solely in the federal sphere. Accordingly, the very architecture of resource governance resulted in tensions between the federal government, particularly the Federal Continued on page 22
A book on selling skills titled, Basic Selling (Reminiscences of a Nigerian Salesman) is set to be launched into the Nigerian market on December 12, 2017. The book, written by seasoned salesman, Deji Morakinyo, will be unveiled at the Protea Hotel, on Isaac John Street, Ikeja, Lagos. Basic Selling (Reminiscences of a Nigerian Salesman) is replete with local content examples on the subject of selling and, as such, differentiates itself from many other books in its category. According to Peter Letsuwa, Distributor Management Director at Guinness Nigeria, who wrote the foreword, “the book is timely and relevant to the sales and marketing constituency for coaching, people development intervention and leisure reading. It is also presented in a simple format similar to a “to- do list� for all salesmen,� he said. The official presentation of the book will feature a panel discussion on “selling in the digital age� which will be handled by sales and marketing professionals in different industries. In the same vein, the President, National Institute of Marketing of Nigeria (NIMN) Mr. Tony Agenmonmen is billed to deliver the keynote speech while the Honourable Commissioner for Commerce, Industry and Cooperatives, Lagos State, Mr. Rotimi Ogunleye will be the special guest of honour and Aare Fatai Odesile, Managing Director, Grand Oak will be the Chairman of the occasion.
Comedy Radio to Boost Broadcast A newly launched radio station, Comedy Radio on the 32 FM Band, which is Nigeria’s first comedy-themed radio station in Ibadan, Oyo State, has pledged to boost listeners experience in Ibadan and its environs. Designed to create and broadcast provocative, entertaining, no-holds-barred humorous content and programmes that listeners could never get anywhere else on radio, a number of comedians have been signed up to host shows on the station, including WoliAgba, humourously tagged Prophet of Instagram Parish Ministry, Shete, arguably Ibadan’s most refined comedy talent. ‘Shete’ whose real name is Akinshete Olakunle, is an award-winning act and the brain behind one of the biggest comedy events in Ibadan. Obama, a household name for indigenous comedy in Ibadan is also on the frequency. The radio stationsays it is cut out to drive contents with a huge doze of humour and defines her target audience as 16 years + and lovers of humour.
Dana Air Wins Ticketing Award Dana Air Customer Service Agents across its Lagos, Abuja, Uyo and Owerri stations have won the 2017 Outstanding Female Ticketing Executive Awards, at the annual conference of Women in Aviation held recently in Port Harcourt, Rivers State. Speaking on behalf of the other Dana Air awardees, the Customer Service Lead Agent, Nelly Diden said: “We are proud of this award and the fact that we have been recognised as good ambassadors of Dana Air. This shows that people actually watch and appreciate the way we attend to our customers and we will not rest on these laurels, but continue to be the best that we can to make Dana Air proud of its investment in training. “We thank the Women in Aviation Nigeria chapter for this award and the management of Dana Air for engendering a work atmosphere that encourages creativity,� she said. Recipient of numerous awards for service excellence, Dana Air recently celebrated its 9th anniversary and consummated it with the receipt of its membership certificate of the International Air Transport Association (IATA).
“Our debt-revenue ratio today is 60 per cent and is still going up; states are borrowing as if there is no tomorrow and the federal government is doing the same thing�
Former Governor of Anambra State, Mr. Peter Obi
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BUSINESSWORLD OBI: NIGERIA’S $30BN RESERVES A DISINCENTIVE TO INVESTORS
‘VAIDS: Data, Information-sharing Agreements Will Expose Tax Dodgers’ Chika Amanze-Nwachuku
impact of the oil sector on the country’s economy, Obi said the country started coming out of the recession in the second quarter of 2017 when the oil sector GDP became positive by 3.5 per cent, with overall GDP rising by 0.72 per cent. In the third quarter of 2017, Obi said the oil sector GDP rose by 25 per cent, pushing the overall GDP further positive by 1.4 per cent, even though the non-oil sector was still negative. “That shows the impact of oil economy on the overall GDP of Nigeria,� he added. “Today, we are coming out of the recession but I can tell you that it is still very fragile. You still have the debts increasing at both national and sub-national at a level that is unsustainable. Our debt-revenue ratio today is about 60 per cent and is still going up. States are borrowing as if there is no tomorrow; Federal is doing the same thing and it is a crisis,� Obi said. FAYEMI CALLS FOR REMOVAL OF MINING FROM EXCLUSIVE LIST
Ministry of Mines and Steel Development, state governments and communities and became the main hindrance to the development of the mining sector. “The structure of the sector was designed to relegate state governments, and offered no incentives to the states and local governments to support the growth of the industry. They have no direct access to royalties and taxes and thus, are excluded from optimally sharing revenue from the mining of resources in their respective jurisdictions. “One consequence of these ills has been the low investment in the sector largely as a reaction to the systemic hostility towards private mining operators by states. These problems are connected to larger contentious subjects such as the proper location of fiscal domain and governmental jurisdiction in a federal system, resource rights and subsidiarity.
NEWS
Tax defaulters and prospective taxpayers have been advised to seize the opportunity provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) or risk being exposed through data and a series of information-sharing agreements to which Nigeria is a signatory. Mr. Peter Ukonu of Financial Derivatives, gave the advice in Lagos on Friday, at a one-day training workshop organised for tax professionals by the VAIDS office in the Federal Ministry of Finance. In a presentation at the workshop, which held at the Federal Palace Hotel, Ukonu warned that the availability of data from various sources makes it difficult for tax dodgers to evade the attention of tax authorities. Ukonu said data had always been available, but not as integrated as they now are. He noted that cooperation among government agencies and tax authorities at federal and state levels has ensured a profusion of data on incomes and assets, which would be matched with lifestyle to yield a full picture of the tax status of an individual or corporate entity. Another speaker at the event, Mr. Yomi Olagbenro of Deloitte observed that tax avoidance, especially for those with incomes and assets outside Nigeria has been made more difficult. He explained that the range of international instruments, which Nigeria is part of, facilitates the sharing of information among tax authorities even without request. He stated the Automatic Exchange of Information (AEoI), which kicks in on 1 January 2018, is one of such tools in the
hands of tax authorities across jurisdictions. On his part, Mr. Ayo Salami of KPMG Professional Services said that not everything declared by an individual will be taxed. He explained that tax authorities are aware that certain categories of money are not taxable. He, however, urged the taxpayers to truthfully declare to comply with VAIDS, which is a time-limited opportunity for taxpayers to put their tax affairs in order. Minister of Finance, Mrs. Kemi Adeosun, also at the occasion, appealed to media to give people with tax liabilities the benefit of doubt in the hope that they would comply with VAIDS. Minister of Finance, Mrs.
Kemi Adeosun had earlier confirmed that a total of 1,710 Community Tax Liaison Officers (CTLOs) have been deployed to 33 States, including Adamawa, Cross River, Delta, Edo, Enugu, Kaduna, Kwara, Lagos, Nassarawa, Niger, Ogun and Oyo, to raise awareness about the scheme and taxation in general. \She vowed that there was no hiding place for tax evaders residing in Nigeria or abroad, noted that the federal government had put in place a data mining mechanism to fish out evaders. She said: “The unique cooperation between the various arms of federal government, state governments and foreign governments has provided an unprecedented level of data that allows the Nigerian Gov-
ernment to profile taxpayers accurately and identify those whose lifestyle and assets are not consistent with their declared income. “A lot of data mining is going on daily, both locally and internationally, on property ownership and other items. Data is an extremely powerful tool that is now being utilised. For instance, we have reviewed all companies that received major payments from the Federal Government in the last five years and found that even those who made money from government, under-declared.� Adeosun further noted that the government’s tax compliance team had looked at import records and compared the value of goods imported
to the tax declarations of the importers, but the discovery was worrisome as “the variance was disturbingly wide�. VAIDS, an initiative of the Federal Ministry of Finance in collaboration with the state tax authorities, is a revolutionary programme that provides tax defaulters a nine-month opportunity to voluntarily and truthfully declare previously untaxed assets and incomes. The tax amnesty period is expected to lapse on March 31, 2018. Job creation is one of the spin-offs of the VAIDS initiative, with the scheme expected to create a total of 7,500 opportunities for Nigerians as CTLOs through the N-Power scheme of the Federal Government.
SKYEEXPERIENCE TELEVISION UNVEILED
L-R: Directorate Head, South, Skye Bank Plc, Ayo Abina; GMD/CEO, Skye Bank, Tokunbo Abiru; CEO, November Productions/Top Nollywood Producer, Charles Novia; Assistant Director, CBN, Dayo Olomo and Head, Strategic Brand Management, Nduneche Ezurike at the formal launch of SkyeExperience Television Commercial in Lagos ‌ recently ABIODUN AJALA
FG Urged to Reconsider 13% Derivation Benefits to States, LG’s with Mineral Resources Hammed Shittu in Ilorin The Vice President (Mines) of the Kwara State Chamber of Commerce, Industry, Mines and Agriculture (KWACCIMA) Mr. AbdulRahman Ottan has called on the federal government to reconsider the 13 percent derivation benefits given to state and local governments where mining potential are discovered. Ottan made the call in Ilorin, at a media briefing on the state of the nation’s mining over the
weekend. According to him, �there is the need for the federal government to have a geological data bank of mineral resources in the country to attract interested foreign investors�. He noted that mining is on the exclusive list of the federal government, but suggested that such stand should be down played to enhance the development of the sector. He said that Africa is the next destination of mining in the world and therefore pleaded
with the government to harness the potentials of the sector and take it more seriously. Ottan lamented that the government had not invested much in mining as subsequent administrations had played lip services to the sector. He urged the government to involve states and local governments as well as the local communities where mines where discovered in the sharing formula derivable from the minerals discovered. On the state of mining in
Kwara, the vice president of KWACCIMA said that the body has concluded arrangements to put up a position paper to the state government on the need for the government to partner with foreign or local miners on how to develop the potentials of mining. He said that, such development would increase the internally revenue generation of the state and create more employment opportunities. Ottan also suggested that government should establish a
mining company saddled with the responsibility of acquiring mining sites across the 16 local government areas of the state saying that the state is endowed with abundant mineral resources He, however, commended the state government for creating a ministry responsible for the mining sector and stressed the need for the ministry to be well equipped in terms of capacity building to enhance the performances of the staff through training and retaining.
NCAT Rector: Why over 300 Nigerian Pilots are Unemployed Group Business Editor
Chika Amanze-Nwachuku AgriBusiness/Industry Editor
Chinedu Eze
Comms/e-Business Editor
The Rector of the Nigerian College of Aviation Technology (NCAT), Zaria, Captain Abdulsalami Mohammed has said that over 300 Nigerian pilots are unemployed because they seek to operate commercial airlines after training. He therefore advised newly trained pilots to seek to fly private airplanes, including sortie aircraft and others under General Aviation to gain experience before applying to operate commercial airlines.
Jonathan Eze Emma Okonji
Capital Market Editor
Goddy Egene
Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Chineme Okafor (Energy) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (Cap Mkt)
The Rector was reacting to the fact that a large number of Nigerian pilots who have operating licenses are unemployed because they tend to seek for jobs with commercial airlines that would rather demand for experienced pilots than to employ those without experience and needs to be type-rated. Abdulsalami said working with General Aviation was the way it was done in other parts of the world but in Nigeria, newly trained pilots seek to be type-rated on commercial
airliners that are becoming increasingly difficult because the airlines would rather not use their aircraft to for training of pilots. Many people have expressed concern that the cockpits of an average Nigerian airline aircraft is filled with expatriates but the airlines explain that they employ experienced pilots who have garnered thousands of hours of experience and most of those with such experience are expatriates. Speaking to journalists recently, Mohammed explained
that when these young pilots graduate, they need to continue flying to garner enough experience to enable them become employable by commercial airlines. According to the NCAT Rector, these young pilots should not be in a hurry to fly the big and flamboyant commercial jets as they can start from light or medium aircraft to garner experience. He however stated that training some of these pilots is a huge burden on these airlines, especially as many
of them end up leaving for greener pastures. “Unemployed pilots is a subject that is dear to me because every day I get a call from someone who wants his son employed or I get a question on why would I bother to come out and train as a pilot when there are no jobs. As you know, we have about 300 unemployed young pilots in the market and the airlines are reluctant to employ and train them because they claim that when you train some of them they run away.
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Samsung Elevates the Egina Project The recent sail-away of the $3.3 billion FPSO for the $18 billion Egina deepwater oilfield from the Samsung Yard in Geoje, South Korea, to the company’s yard in Lagos where it will be integrated locally, represents a new record in Nigerian content development, Ejiofor Alike reports On October 31, 2017 at exactly 7.18am Korean time, the Floating Production Storage Offloading (FPSO) vessel for Nigeria’s Egina deepwater oilfield being developed by Total Upstream Nigeria Limited (TUPNI) left the quay side at Samsung Yard in Geoje, South Korea, on its long anticipated journey to Nigeria. Located in South Gyeongsang province, off the coast of the port city of Busan in South Korea, Geoje Island hosts SHI yard in Gohyeon. It is expected that it will take about 90 days for the vessel to arrive the SHI-MCI FZE quayside (Samsung Yard) in Lagos, where it will be integrated locally before the $3.3 billion facility sails away to the deep offshore oil field, which has scored first on many fronts. THISDAY gathered that the FPSO, which has already passed Taiwan, will arrive Nigeria by end of January 2018. Samsung Heavy Industries (SHI) was awarded the contract for the Engineering, Procurement, Construction, Integration, and Commissioning of the 2.3 million barrels capacity FPSO for the Egina oil field, being developed by Total at the cost of $18 billion in Oil Mining Lease (OML) 130, offshore Nigeria. Total’s Egina field is not the first deepwater field to be developed in Nigeria as the country already has five other giant deep offshore producing oil fields – Shell’s Bonga, ExxonMobil’s Erha, Chevron’s Agbami, Total’s Akpo and ExxonMobil-operated Usan field, which was also developed by Total. However, the uniqueness of Egina lies in the fact that it is first on many fronts. In the area of engineering and management, the Project Management Team (PMT) and all the main contractors’ PMT offices are based in Nigeria, with 94 per cent of basic engineering executed in Lagos by Nigerian companies. Also detailed engineering was done in-country with a consortium of three Nigerian companies with 85 per cent of engineering man-hours expended in Nigeria. Second, in the area of fabrication and integration, SHI had also set a new record in Nigerian content development when it locally fabricated six modules or about 60,000 tonnes of the equipment out of the 18 modules, representing over 30 per cent of the main packages of the project. The six FPSO topside modules for Egina FPSO were fabricated in-country across fabrication yards and will be integrated into the main FPSO when the FPSO arrives at the Samsung Yard (SHI-MCI yard) in Lagos, the first of its kind to be berthed at quayside in Nigeria. The fabrication and integration facility, which was constructed and developed under the technical, managerial and operational expertise of SHI while its partner, LADOL, a logistic service company, provided the ferry and electricity service. SHI has invested $300 million in the SHI-MCI yard, which consists of yard area, assembly shop, assembly yard, fully enclosed blasting and painting shop, warehouse, African 1st quay wall for FPSO integration, heavy lift with large capacity and sufficient water depth by dredging work. So, Egina field is also first in the sense that apart from the fact that it has the largest FPSO in Nigeria, its FPSO will also be the first to be fabricated and integrated locally in Nigeria, and indeed, Africa. Also the assembly of the integrated control and safety system of the FPSO will be fully performed in-country, while it has the largest subsea equipment – manifolds, risers ever completed in Nigeria, above what was achieved in previous deepwater project. Indeed, the Managing Director of Total Nigeria E & P, Mr. Nicolas Terraz and the company’s deputy managing director in charge of Deepwater District, Mr. Ahmadu-Kida Musa told participants at the recent 7th Practical Nigerian Content conference held in Uyo, Akwa Ibom State, that the company had achieved 44 per cent Nigerian Content in Akpo deepwater project in 2006, 60 per cent Nigerian Content in Usan project in 2008 and 77 per cent in Egina project. The company has challenged other operators to
Samsung Yard (SHI-MCI FZE) in LADOL Free Zone, Lagos exceed the Egina’s Nigeria Content accomplishments in future projects in the country. In the area of human capacity development, Total, NCDMB and SHI also made significant contribution to Nigerian Content development with an ambitious objective to train 200 engineers
With the high level of insecurity, long contracting cycle, lack of respect for sanctity of contracts, inconsistency of policies, overregulation and bureaucracy, Nigeria remains a high risk environment for the oil and gas industry. To guarantee inow of investments in the oil and gas sector and also ensure that the accomplishments in Egina project are exceeded, the country should improve the ease of doing business by reducing the operating risks
and technicians, where 500,000 man-hours would be expended both in Nigeria and overseas. Improving ease of doing business However, for the oil and gas operators to exceed the accomplishments of Egina in future projects, the country should strive to continuously improve the ease of doing business, especially in the oil and gas sector. The Vice-President of Nigeria, Prof. Yemi Osinbajo had stated at the recent 55th anniversary of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI) that the oil and gas sector would benefit from the federal government’s efforts to improve the ease of doing business in the country. The country recently moved up 24 places in the World Bank’s Doing Business report to the 145th position, through the efforts Osinbajo, who chaired the Presidential Enabling Business Environment Council (FEBEC), and the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelemah. However, a lot of work is still needed to be done to encourage investors by reducing the Nigeria-specific risks in the oil and gas sector, which have discouraged investments and escalated costs of projects. With the high level of insecurity, long contracting cycle, lack of respect for sanctity of contracts, inconsistency of policies, overregulation and bureaucracy, Nigeria remains a high risk environment for the oil and gas industry. To guarantee inflow of investments in the oil and gas sector and also ensure that the accomplishments in Egina project are exceeded, the country should improve the ease of doing business by reducing the operating risks. SHI was able to achieve the feat being celebrated by Total and NCDMB in the Egina project as a result of South Korea’s high ranking in the ease of doing business, which created conducive environment that helped the company to grow into shipbuilding giant. While Nigeria is celebrating that she moved up just 24 places in the World Bank’s Doing Business report to still far less influential position of 145th, South Korea ranked the fourth best country for doing business among the industrialised countries in the World Bank report. According to its latest ranking, the World Bank’s report showed that South Korea is the fourth best country for businesses after New
Zealand, Singapore and Denmark. In the ranking, South Korea was followed by Hong Kong, US, UK, Norway, Georgia, Sweden, Ireland, Germany, Spain, France, Japan, Russia, Rwanda, Italy, Mongolia and Somalia. The enabling business environment in South Korea contributed largely in helping SHI and other Korean giants to build local capacity, which they are exporting to other countries as evidenced in the Samsung’s multi-million dollar fabrication and integration Yard in Lagos Samsung is ranked 7th on best global brands and is the world leading company in electronics, shipbuilding and machinery, services, chemicals and finance, through the various subsidiaries. Reputed as the engine of the Korean economy, Samsung has a global network of 33 affiliated companies, 559 offices and facilities in 74 countries. With total employees of 427,000 worldwide, it has $530 billion worth of assets and sales revenue of $305 billion. All these could not have been achieved if the operating environment of South Korea and the other oil-producing countries where the company operates were as difficult as Nigeria. Future projects For future oil and gas projects to set a new record on Nigerian Content, investors such as SHI, which took the risk of establishing the SHI-MCI FZE in Lagos as the first ever fabrication and integration yard in Africa should be encouraged. In the Egina FPSO, SHI fabricated in-country, six modules or about 60,000 tonnes of the equipment out of the 18 modules, representing over 30 per cent of the main packages of the project. However, for the Zabazaba deepwater project, the NCDMB has stipulated that the contractors must fabricate and integrate over 50 per cent of the topsides of the FPSO in Nigeria to ensure that the Zabazaba project impacts the Nigerian economy much more than previous deepwater projects. In order to achieve this target, the existing fabrication and integration yards must be fully utilised in future projects to maximise Nigerian Content and boost the country’s economy. By encouraging operators that have demonstrated faith with the Nigerian Content by investing heavily in local yards, massive jobs will be created for Nigerian facilities and manpower.
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T H I S D AY TUESDAY NOVEMBER 28, 2017
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T H I S D AY TUESDAY NOVEMBER 28, 2017
Andersen Tax Nigeria
is pleased to introduce our Leadership Team
Olaleye Adebiyi Managing Partner
Oladipo Maiye
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Dr. Joshua Bamfo
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BATNF Interventions Benefit 18,000 Farmers Olawale Ajimotokan in Abuja The capacity building initiatives by British American Tobacco Nigeria Foundation (BATNF) since 2002 have impacted over 18,000 smallholder farmers in many parts of the country, the Foundation’s Executive Director Abimbola Okoya has disclosed. She dropped the hint at the second edition of the National Agriculture and the Smallholder
Farmers Dialogue in Abuja. The session focused on sustainable agriculture and how smallholder farmers that constitute 70 percent of the farming population in Nigeria, can benefit from the successful implementation of the Agricultural Promotion Policy (APP). Okoya said that in the 15 years of its existence, BAT Nigeria Foundation has trained large numbers of farmers on best agricultural
practices, implemented over 150 projects nationwide and invested an excess of a billion naira on vocational skills acquisition, water supply and environment conservation. “What we do often time is that we also work with government partners in terms of technical inputs that affect the life of the farmers and the local community as well. And we hope that our model will be used and emulated
by other organisations, not only in Nigeria but across the world,� Okoya said. Throwing light on the activities BATFN is Ageni Yusuf, a member of the board of directors. Yusuf said the foundation was keying into rice, maize and cassava cultivation while also supporting farmers through irrigation so that they will have water all year round to cultivate on their small farm.
He listed some of the key areas of intervention to farmers to include, assisting them with tractors to clear land, high-quality inputs and hybrid seeds to develop high yields per hectare. “You can see many of them doing the subsistence manual mode of clearing land, we are helping many of them with tractors to clear the land in preparation for the cultivation. And this year, we have
developed 16 of what you call modern enterprise farms in different parts of the country, which is why we brought these smallholder farmers, each having a minimum of one hectare of land, where we show them the practical way of modern farming. The budget for the inputs, fertilizers and clearing of the land for this year is close to N200million providing all these for smallholders�, Yusuf said.
SheTrades: NEPC/ITC Workshop Excites Women Entrepreneurs Jonathan Eze The federal government’s economic diversification agenda received a boost recently as the Nigerian Export Promotion Council (NEPC) and the International Trade Centre (ITC) commenced a two-day workshop for women entrepreneurs aimed at implementing the SheTrade initiatives. Anchored by an Adviser of the International Trade Centre, Mr. Juan Hoyos, the cross-section of women at the event told THISDAY that the workshop has further equipped them to excel and soar both locally and in global business. SheTrades was launched in July 2016 with commitment to bring 200,000 women to the global market, as part of the broader UN – Goal of connecting one million women to the international market place by 2020. At the regional workshop held in Lagos, the Executive Director/Chief Executive Officer (CEO) of NEPC, Mr. Olusegun Awolowo, explained that to achieve this commitment, NEPC organised Stakeholder’s forum in some States in Nigeria in liaison with a steering committee to further drive the SheTrades initiative. According to him, “The Council in partnership with ITC brought together women entrepreneurs to increase their
awareness on the SheTrades platform, thereby improving their visibility and the use of trade intelligence as well as strengthening the Trade and Investment Support Institutions (TISIs) to enhance policies for the benefit of the exporting entrepreneurs. Awolowo, who was represented by Director, Export Development and Incentives, Mr. George Enyiekpon, also underlined that research shows that women are largely the driving force behind the global economy, controlling over 65% of global consumer spending. However, he pointed out that globally, women businesses are outperformed in less productive sectors, as owners often lack adequate access to capital in addition to the myriad of bottlenecks and complications plaguing their businesses as same also applies to all Nigerian entrepreneurs. “Therefore, the ITC Call to Action offers a platform to rally and engage stakeholders across governments and the private sector, to address previous shortcomings and advance women’s economic empowerment. Gender equality and the empowerment of women is a prerequisite in achieving the Global Development Goals on Sustainable Development adopted by the United Nations, setting forth an ambitious development agenda to 2030�, he added.
ELAN Expo Participants Urge New Solutions to Infrastructure Challenge Participants at the international construction and building exhibition, Elan Expo, unanimously submitted that there is need to build for the modern future by embracing new solutions that will address infrastructure challenges in the built and construction industry. Speaking at the just concluded exhibition, Project Coordinator, Nigeria Build Expo, Jude Chime said that the expo opened up investment opportunities in the nation’s built industry as well as other value chains. “We have brought together important building professionals, international manufacturers around the world, services and technologies providers to explore opportunities in one of the fast developing sectors in the country.
“We expect the impact of the expo to be massive on the society going by the ideas shared among multilateral agencies and companies present at the expo. We are also optimistic of improved trade ties. On his part, the National Chairman, Nigerian Institute of Mechanical Engineers (NiMechE), Mr. Ugochukwu Nzurumike, who also represented the Nigerian Society of Engineers (NSE), said the expo offered opportunities to explore how to bring down the cost of production through green solutions and adaptation of technology, rather than depending on technology transfer. He noted the peculiarity of the Nigerian environment requires bespoke solutions that will be sustainable.
MERITORIOUS AWARD
L-R: Business Development Division west, Sigma Pensions Ltd, Mr. Sunday Okolie; Vice President Business Development Division, West, Sigma Pensions Ltd, Mrs. Mabel George; Managing Director PWAN Homes, Mr. Micheal Afamaefuna Okonkwo, and Strategy Department, Sigma Pensions Ltd, Mrs. Yetunde Adebiyi, receiving the award for Global Best Pensions Company in Customer Relationship Management at the 2017 Global Quality Award ceremony in Lagos ‌ recently
Farmcrowdy Launches Farmers’ Digital App, to Empower Farmers Sunday Okobi and Ugo Aliogo As part of efforts to address food shortages as well as make agriculture attractive and beneficial to Nigerians, agricultural technological firm, Farmcrowdy, has unveiled a digital application called Farmcrowdy. The organisation stated that it’s also currently empowering more than 2000 Nigerian farmers across the country. The Chief Executive Officer of Farmcrowdy, Onyeka Akumah, disclosed that the application is an agricultural platform which connects small scale farmers and sponsors investors’ who are ready to produce more food for the country, while also focusing on assisting them with the latest farming techniques and funds to make their lives more meaningful. Akumah who spoke at Farmcrowdy first year anniversary and the recent launch of the application in IOS, windows and Android platform at Four Point Hotel, Lagos, revealed that it all started on September 14 when the organisation came into existence and expanded beyond Oyo State in rice, beans and poultry farming and in
February 2017, we moved to Edo State for rice farming where we had a pool of 300 farmers, then Plateau and Akwa Ibom States with 250 hectres of land for cassava farming. This year, Rockefeller has featured us as one of Agriculture Innovative Organisations in the world.� According to him, Farmcrowdy has concluded plans to further empower more than 4,000 farmers in the country by signing them up in their various communities and giving them all the necessary assistance to make farming simple and beneficial in order to feed the country. He told THISDAY that in the last 12 months they have sponsored over 2,000 farmers in eight states in the country, adding that their farms cut across 8,000 acres of land with over 200,000 chickens among other aspect of farming activities. The Farmcrowdy co-founder also stated that they work with the farmers using their different field specialists and partners to ensure that they do what is expected of them to succeed, stressing that they have arranged a ready market to sell the harvest of the farmers and then pay the sponsor 40
percent profit. Akumah further noted that from the sponsorship, the farmer gets 40 percent of the profit in addition to all the money he or she gets from lease, trainings and other activities, adding that on their part, they realise 20 percent profit. Akumah add: “This programme will help farmers even without being in the farm by providing them with the latest farming techniques and investing in them in other areas of farming that will better their lots. On the App, we decided to create a digital platform to get many people on the programme to understand agriculture and its benefits. “When the App is downloaded and registered, it allows you to get firsthand information on farming activities as well as monitoring them. Through it, you share your ideas, techniques and aid you to calculate our inputs and gains as well as get notifications on the latest information. “One of the problems farmers are facing is smart farming education. The second problem is the market to sell their farm produce in order to earn a decent margin. The third
problem is that most of them are not into banking. Some don’t participate in banking activities. “They don’t know how to get subsidies from banks so we provide all of them. We provide them also with the training and fund to expand their farms as well as the market to sell their farm produce. The focus is to take them away from the poverty level to live a better life. “Our relationship with the farmers has been good. Next year, we want to empower 4,000 farmers, in the next two years, we will empower 10,000. Beyond that, we want to empower 50,000 farmers by the year 2020. The Farmcrowdy model is such that Nigerians are sponsoring farmers to produce the country’s food for consumption. We will then replicate this model we have done here in other parts of Africa.� One of Farmcrowdy’s partners who spoke to THISDAY, Supply Operation Manager of Syngeta, Godwin Ejeh, said partnership is one of the core values of the group. He stated that they partnered people they feel would drive Syngeta’s vision. Other partners include Leadway Insurance among others.
T H I S D AY TUESDAY NOVEMBER 28 2017
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T H I S D AY ˾ TUESDAY, NOVEMBER 28, 2017
PROPERTY & ENVIRONMENT The Oceanna Redefines Nigeria’s Skyline An exquisite development, The Oceanna – born of the Ocean, is springing up at the Atlantic Oceanside in Victoria Island, Lagos. The promoters, Grenadines Homes conceived it as a show of ambition and clear redefinition of luxury. Bennett Oghifo reports
F
orty years after the development of the Nigeria’s iconic National Theatre building in Lagos, the nation is yet to have another that triggers immediate recognition and respect. On account of this, Grenadines Homes, a member of the Palton Morgan Holdings decided to employ its private initiative to attempt to redefine and improve on the Lagos skyline and the Nigerian national identity, according to officials of the company. “We looked at Nigeria in the comity of nations and asked ‘how do we make our little contribution to dignifying her and contributing to the economy from our segment?’ The dream is to hoist the green-white-green proudly high among other national iconic projects that distinguish their host countries,” said Adeyinka Adesope, Group Managing Director, Palton Morgan Holdings, who shared the vision behind The Oceanna. Armed with this dream, Grenadines Homes’ management had to study the Nigerian estate industry in
comparison with what shaped other countries’ image profiles via the skyline and opted to trust the Nigerian dream to globally proven professionals and consultants. Adesope explained that “having grown up knowing the national theatre as Nigeria’s landmark identity and watching it lose flavor to quality management, got us thinking about how to deliver a befitting landmark development, to fuel national pride, aspiration and help discerning people find their place in history. That’s what gave birth to The Oceanna.” This idea, already entrusted to leading and proven professionals and consultants across the world has come with its little pleasant surprises. The mixed development, comprising commercial, recreational and residential, is already a proven commercial success guaranteeing investors mouthwatering returns. The Group Managing Director, while discussing the investment explained that the “Real estate research done reveals that hotel investments offer double digits returns as high as 12% unlike the traditional buy-to-let
Architects presentation of The Oceanna
which gives 5-6% annually, giving you the avenue of a quick and shortened payback period of 7-8 years. “This investment gives the opportunity of owning hotel at the fraction cost of building an entire tower. It is an innovative concept brought into Nigeria because of its unique and superior returns
to discerning investors. More so, the hotel will be managed by a 5-star hotel brand; you can be sure of a guaranteed income.” The vision being breathe into life by proven consultants like designers, HOK Architects (famous for their work on Dubai Marina and the Emirates
Stadium), is being branded by Brash Brands Consultants, (known for branding the world’s tallest building – Burj Khalif, Dubai), is being crafted by, Cappa & D’Alberto, a leading construction firm in Nigeria. The first phase of the project, covering 20,000 square meters of land took-off with design in
the third quarter of 2015. It will be made up of four towers of mixed-use development, serving residential, commercial and recreational purposes. The Oceanna project has a built-up area of about 40 per cent, leaving ample surrounding for greenery and circulation, to suit the lifestyles of the accomplished and attract the discerning. He said, “All these reinforce growing optimism in the industry that when completed The Oceanna would the most iconic structure in Nigeria, relieving the national theatre of the burden of defining and representing the national skyline globally.” He said Grenadines Homes is a real estate development company dedicated to reinventing the concept of property investment in Nigeria. “The company aims to create estates at the forefront of cutting-edge architecture, thereby building homes that represent luxury and high class which suits varying tastes and preferences.” The company is currently developing several residential projects in Lagos and Abuja, Adesope said.
Abuja’s newest Shopping Destination, Novare Gateway Opens for Business Shoppers in Nigeria’s capital city, Abuja, will be spoilt for choice with the opening, on Thursday, this week, of Novare Gateway - a modern lifestyle centre, offering an enticing combination of shops, restaurants and entertainment. The centre incorporates 15,000 square metres of space occupied by 60 stores, and is conveniently situated with parking for over 600 cars. Located on the main 10-lane highway between Abuja’s Nnamdi Azikiwe International Airport and the central business district, and with modern infrastructure and facilities, Novare Gateway is perfectly situated to meet the needs of the growing Abuja community. The Mall has Shoprite as the anchor, and the centre’s tenant mix includes international and local brands, covering fashion and fashion accessories, restaurants, electronics, health and beauty, furniture, home improvement, telecommunication, entertainment, cinemas, as well as banks and ATMs. Some of the tenants that would join Shoprite are: Sholly Optical; Studio 24; Yobella Kids Zone; PEP Stores; Fun World; Genesis Cinema; Buka Restaurant; Payport; Minso; Medplus; Nett Pharmacy; Gumbabay; Nucleus Lunge; BLK; and Genesis QRS. According to the Chairman of Novare Real Estate Africa, Professor Fabian Ajogwu, SAN, Novare Gateway is Novare Real Estate Africa’s third retail and commercial development
in Nigeria, and to date their largest in Abuja. The centre, he said was developed at a cost of US$68 million and includes a second phase that would in future see another 10,000 square metres added to accommodate 33 more shops. Commenting on the Novare Gateway Mall opening, Professor Ajogwu, stated that “the mall transcends the over $68 million of foreign direct investments in it and creates over 5,000 jobs through direct and indirect employment from the development stage until completion and commencement of operation.” Also at the press briefing was Mr. Derrick Roper, Chief Executive of Novare Equity Partners, who said, “We’re very proud to have completed Novare Gateway. This is our largest project so far in Abuja, contributing to infrastructure development, sustainable job creation, trade and consumer demand for a modern shopping experience.” Other malls in Abuja owned by Novare Equity Partners include the 8,267square metre Novare Apo mall located about 18km from Novare Gateway to the south-east of Abuja. Similarly, in Abuja Novare is developing a 12,508-square metre Novare Central office park, a mixed-use centre, consisting of retail space and A-grade offices. In Lagos, Novare developed the 22,000 square metre Novare Lekki mall, which commenced
trading in August 2016. Novare Lekki was awarded Real Estate Deal of the Year by The Lagos Chamber of Commerce &
Industry (LCCI) at its 2016 commerce and industry awards in July this year. The awards celebrate
companies in the business community of Nigeria “who have excelled in their various fields of endeavour, delivering
social impact, causing change in the economic landscape and delivering on promise in 2016.”
NIEVSCondemnsValuationofPlants, Police Allegedly Brutalise Estate Surveyor Accused of Fraud Machinery by Non-professionals The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has condemned the valuation of plants and machinery by non-professionals as a source of revenue loss to government at all levels. According to the Chairman, Faculty of Housing, NIESV, Mr. Paul Osaji, government at all levels were losing huge revenue that should come from taxes on machinery and plants, because they depend on unqualified professionals, who are neither estate surveyors nor valuers to do the valuation of these equipment. Osaji said, “With proper valuation of industrial machinery and plants, be it the breweries, aviation, communication outfits, taxes that would be generated either by the federal, state or local governments in term of revenues are so huge that their effective exploitation is capable of eliminating total dependence on revenue from oil, not to talk of engaging in external borrowing.” The involvement of qualified professionals, in this case, Estate Surveyors and Valuers
would improve the revenue base of government, said Osaji, who is the Managing Partner, Paul Osaji & Co. He explained the processes and a set of procedures used to determine the economic value of an owner’s interest in an asset, saying “Valuation of Assets may generally be required for following purposes: Mergers and Acquisitions – Pre Merger and Post Merger. “From Financial Reporting Banking (Lending against Assets), it involves impairment studies, purchase price allocation, Distress Assets/ non-Performing Asset, Court & Litigation support, including management information and strategic planning. “Other processes include insurance, initial public offerings, cost investigations disinvestment, among others. “The scope of Valuer include complete understanding of valuation purpose, collection of data and documents and understanding, physical inspection of subject assets, market survey and collection of data pertinent to the valuation exercise.”
Bennett Oghifo An Estate Surveyor, Mr. Emeka Okoronkwo is said to be critically ill at a Police hospital in Lagos, following alleged illtreatment he received at the Alagon Police station where he is being held after his client complained that he defrauded him of over N500 million on a spurious land deal. Okoronkwo was detained by the police after his client, Mr. Chukwuemeka Nwabuoku wrote a petition to the Inspector General of Police that he was defrauded by Okoronkwo to the tune of N577,590,792, in addition to threat to his life. The Chairman of the Economic and Financial Crimes Commission was copied in the petition dated 17th May, 2017. Regardless, Okoronkwo has denied the allegations, according to his Solicitors, Libra Law Office, who said their client is under armed guard in hospital and that he could barely walk and had problem urinating. They also complained that he has been denied bail, regardless of the fact that theirs was a civil matter.
In his petition, Nwabuoku said through his Solicitors, Ameh Ameh & Co., that “Sometime in 2016 one Mr. Michael Owolabi Alonge introduced to our client who resides and does business in the United States of America (USA), one Mr. Emeka Okoronkwo of KingsCourtRealtors Plot 321A, Akin Ogunlewe Street, Victoria Island, Lagos (hereinafter referred to as “The Petitioned”) whom he described as a reputable professional property agent in Nigeria. In deep trust for Mr. Michael, our client subsequently proceeded to commence business transactions with him “That by a letter dated 15th day of December, 2016 the petitioned, purportedly acting on behalf of KingsCourtRealtors. (a firn supposedly engaged in realty)’ offered to sell through his company, KenBouk Global Investment Ltd., 150 plots of land lying and situate at Ifedele Agunbiade Village Sagotedo, EtiOsa Local Government, Lagos State.” The land, they told his client would cost N5,250,000.00 per plot to be paid in unionism Continued on page 29
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PROPERTY & ENVIRONMENT
COP23 Awarded Certification for Sustainable Conference COP23 in Bonn, Germany is the first UN Climate Change Conference to receive official certification for eco-friendly performance. Germany’s Federal Environment Minister, Barbara Hendricks and UN Climate Change Deputy Executive Secretary, Ovais Sarmad were recently presented with the Eco-management and Audit Scheme (EMAS) certificate. The certificate verifies the event management’s successful and environmentally-friendly organisation of the conference. Event managers were already aiming for the consistent prevention of environmental burdens when planning began eleven months ago, and their work was documented in the environmental statement. Hendricks said: “We have succeeded in making this Climate Change Conference environmentally friendly and sustainable. This is an important signal for a conference which is not just about negotiations, but also about taking action. It goes without saying that there is still room for improvement in certain areas – this COP only marks the start of the learning curve. I highly recommend using EMAS as the yardstick for future Climate Change Conferences.” Ovais Sarmad, Deputy Executive Secretary of UN Climate Change said: “I want to thank the German government, the people of Bonn and my own staff for embracing wholeheartedly the UN climate
conference 2017 and its ambition to be the greenest COP ever. We are fortunate indeed to be headquartered in a country that is working towards a determined transition to an environmentally-friendly and ever more sustainable future. That said, achieving the high EMAS certification approval was not a given. But here I think we have together raised the sustainability bar of UN conferences with some 28,800 people participating over the two weeks. I am sure many will look to what has been achieved, within the UN system and beyond, for inspiration on how all events and conferences can play their part in meeting the Paris Agreement and the Sustainable Development Goals.” All goals and measures were documented in the environmental statement, then assessed on-site over several days by environmental verifiers and subsequently validated. Such measures included waste avoidance and strict waste separation, climate-friendly catering, excellent local public transport, climate-neutral shuttle services and environmentally sound and reusable materials also for the temporary structures. Energy supply and water consumption are also among the areas to be reviewed in the follow-up. The role of the 650 volunteers who supported the conference and received training onCOP23 environmental issues, should not be underestimated.
Providing Alternative Energy Solution As a key player in the renewable energy space and in its bid to improve the quality of Solar products as alternative to power supply, a foremost solar maintenance company, Rubitec Nigeria has partnered with Jinko Solar infrastructure manufacturers to train solar distribution companies, installers and dealers in Nigeria so as to
educate and enlighten them on best practices in the sector. Considered the largest solar manufacturer in the world, with 25 percent module shipment globally and value chain in eight global factories, with subsidiaries and offices in more than 80 countries, the Jinko Solar company is reputed to be the biggest in mix production. “All the
big designers who are doing megawatts of projects are using them,” noted Bolade Soremekun, the CEO of Rubitec Power and Solar. Speaking during the formal launch of the company in Lagos, Soremekun explained that the essence of the training is to enlighten them on the product reliability and competitive edge the Jinko
Solar has to offer. “The essence of the training is that people don’t know enough about solar panels. If you don’t buy a good panel you wouldn’t get a good electricity,” he stated. “So we now felt the need to train people to know what to look out for in panels so they will know if they are using the best.”
L-R: Chairman, River Park Estate, Mr Paul Odili; Former President Olusegun Obasanjo; and National Chairman, All Progressives Congress, Chief John Odigie Oyegun, at the inauguration of River Park Estate, Abuja... recently
Off Plan Property Investment Anita Mba Off plan properties are viable and lucrative investment ventures in Real Estate. It has many advantages as well as disadvantages which can be properly managed to reduce or eliminate risk if diligently approached and executed. Some investors have enjoyed great returns from off plan property investments, whereas others have suffered grave losses. We’ll discuss a few pros/ cons and how to approach off plan investments. PROS… Lower purchase price This is a huge advantage of buying off-plan. Property
can be secured below market value, primarily because developers want to sell off as many units before the development is complete. In turn, off takers can leverage on lower pricing to acquire unit(s). Win Win for both parties. Payment in Stages Estimated delivery of off plan developments offered is usually between 12 and 24 months. This allows off takers to spread payment over the building stages/phases depending on the agreed terms. More beneficial to subscribers as they are presented with the option to purchase without necessarily paying out a lump
sum of money for property yet to be erected, this can be really scary. Direct Involvement Off takers have the opportunity to be involved and watch the development rise from foundation to finish while experiencing growth in value. Some developers extend a level of control to off takers over details such as fittings and fixtures, provided it is not in conflict with or override the grand plan. Profit It is common knowledge that the value of property increases over time. Property being sold off-plan would increase in
value when completed. Off takers have the option of selling off their unit{s} at the new value or retain to tenant for regular income. Those who acquire to live in their properties also enjoy profit from savings on purchase price. Either way, win!!! CONS… Market Uncertainty Property prices are influenced by a number of external factors, e.g. location, interest rates, demographics, economic growth, etc. Unfortunately, we can exercise little to no control over some of these factors. This makes uncertainty of the property market a key risk factor.
Delays The “African time” syndrome, though not only experienced in the African region, is not necessarily a deal breaker but it can be destabilising and disruptive of plans already in motion. This is not uncommon so it might be wise to give some time after the estimated delivery date to accommodate any delays. Can/will they deliver? To buy property off plan is to trust the developer fully to deliver and uphold their end of the deal. Particularly risky in the unfortunate event that they go bust before fulfilling their
obligation to deliver your property. More so where financial commitments have been deposited, there is a chance it will be lost and worse, no property to fall back on to recover funds. What to do Due diligence Before you decide to invest, consider the location of the development. It must have potential to boost capital growth. Are there similar developments? Are the sold out, selling out or in high demand? 3D renderings, CAD drawings, 3D demos etc. are very interesting to behold.
POLICE ALLEGEDLY BRUTALISE ESTATE SURVEYOR ACCUSED OF FRAUD for the 150 plots, bringing the total cost of the said land to N787,500,000.00k The solicitors said, “The petitioned cajoled our client into believing that the said land had a superior title document by way of Certificate of Occupancy to the benefit of one Mr. Wai Agunbjade (Baale) and Alhaji Sikiru Nasiru (Secretary) on behalf of themselves and members of Ifedele Agundiade village in Eti-Osa Local Government Area of Lagos State dated 24th day of April, 2015 with Certificate of occupancy No. 87/87/2015-I.” The solicitors said “It was further agreed between our client and the petitioned that 75% of the total sum of N787, 500, 000.00k (Seven Hundred and Eighty Seven Million Five
Hundred Thousand Naira) only was to be paid at the initial stage and the remaining 25%-at the completion stage. “That our client accepted the petitioned’s offer, whereupon he proceeded, in fiduciary trust, to send monies at different occasions to him, which cumulatively climaxed at N577,590,792.” According to the Solicitors, after payment they sought to visit the land but were told stories that they could not understand. “That on our client’s return to Nigeria to inspect the land which he in concert with a foreign partner, supposedly bought through the petitioned, he was taken to a location by Mr. Michael Owolabi Alonge in the far interior part of wooded area, where they got
to the end of the dirt road in a swampy area, having a lake of canoes going back and forth Mr. Michael Owolabi Alonge started pointing around not sure where the land is and more, our client was uncontrollably shocked and dismayed that Mr. Michael Owolabi Alonge and the Petitioned who claimed to have been to the land several times and described same to him with several pictures of the land, could no longer locate the land. They said, “Consequent upon the foregoing and our spirited investigations, we made the following findings: That the purported Certificate of Occupancy heavily relied upon were known to the petitioned to be fake and does not confer
any title; That Mr. Michael Owolabi Alonge master minded this fraud and introduced the petitioned as a front to actualise his callous intent; That the persons listed in the kangaroo Deed of Assignment were in fact fictitious persons having no valid interest in the said land. “That the entire transaction from inception was a scam of monumental proportion carefully orchestrated between the petitioned and Mr. Michael Owolabi Alonge to swindle our client and his foreign partner of money sought to be invested in the country; That the activities of the petitioned and his cohorts are in gross violation of the Advance Fee Fraud and Other Related Offences Act, Cap. A6 LFN, 2004 and other ancillary
criminal legislations.” Thus, they concluded that their client was defrauded by the petitioned and his collaborators and urged the Inspector General to “cause the immediate investigation into the transactions that led to payment of the above sum in favour of the petitioned; That your agency should kindly investigate the threat to our client’s life with a view to prosecuting the petitioned and guaranteeing the security of his precious life. This is moreso as he was compelled to return to abroad largely for the safety of his life; That you cause the arrest and unraveling of all persons who participated in this scam of unimaginable proportion with the view of prosecuting them
to the full extent of the law; In addendum, that the petitioned cause to be returned all such monies paid to him by our client in pursuit of the fictitious land transaction.” However, Mr. Okoronkwo denied the allegations in his statement issued by his Solicitors, Libra Law Office, which they titled, ‘False Criminal Complaint and Police High Handedness Against Mr. Emeka Okoronkwo’. According to his Solicitors’ statement, “Mr. Emeka Okoronkwo a seasoned Professional, a Chartered Surveyor and Valuer of Kings Court Realtors, presently lies critically ill at the Falomo Police Hospital where he is taking treatment with an armed police guard in his room.”
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BUSINESS/MONEYGUIDE
Fitch Rates Nigeria’s $3bn Eurobond ‘B+’ Obinna Chima One of the leading rating agencies, Fitch Ratings has assigned Nigeria’s $1.5 billion 6.500% senior unsecured notes due 28 November 2027 and the $1.5 billion 7.625% senior unsecured notes due 28 November 2047 a final rating of ‘B+’. According to a statement yesterday, the final rating replaced the expected rating of ‘B+ (EXP)’ that Fitch had assigned to the issue on November 15, 2017. It explained that the expected rating was in line with Nigeria’s long-term foreign-currency issuer
Default Rating (IDR) of ‘B+’ with a negative Outlook. “The rating is sensitive to any changes in Nigeria’s long-term foreign-currency IDR,� it added. On 31 August 2017, Fitch affirmed Nigeria’s long-term foreign-currency IDR ‘B+’ with a negative outlook. The country’s long-term local-currency IDR is also ‘B+’ with a negative outlook. The federal government recently announced the floating of a $3 billion Eurobond, offering an aggregate principal amount of dual series notes under its US$4.5 billion Global Medium Term Note programme.
A statement issued by Mr. Oluyinka Akintunde, media aide to the Minister of Finance, Mrs. Kemi Adeosun had revealed that the 10-year series would bear interest at a rate of 6.5 per cent, while the 30-year series will bear interest at a rate of 7.625 per cent, which will be repayable with a bullet repayment of the principal on maturity. The offering attracted significant interests from leading global institutional investors. The pricing was determined following a roadshow led by Adeosun and some other senior government officials.
Banks Urged to Collaborate with Fintechs to Boost Financial Inclusion The Central Bank of Nigeria (CBN) has called on banks to collaborate with financial technology companies (Fintechs) to improve the level of financial inclusion in the country. The Deputy Governor, Operations, CBN, Mr. Adebayo Adelabu made this call in an address delivered in Abeokuta, Ogun State at the 2017 annual retreat of the Committee of E-Business Industry Heads (CeBIH) held recently. Speaking on the theme: “Repositioning Digital Payments to achieve the Financial Inclusion goals of Financial System Strategy,� Adelabu also called on CeBIH and banks to be innovative in evolving options to meet the demand of the unbanked at reasonable price to them. He said: “As you are aware, the payments services are the channel for extending other financial services to users. The scale of transactions that we can drive through digital channels is therefore a compelling business case for you to increase investment in this segment of banking
business. This business case, as you may have observed, is driving the interest of FinTechs into your terrain and failure to be agile in responding, not necessarily by stifling the space but by collaborating with the new entrants will impact you negatively. “I therefore urge you to take this challenge and respond appropriately as other financial services providers outside the banking industry are waiting on the payments system to enable the extension of their services to the un-served and underserved.� In his opening remarks, CeBIH Chairman, Mr. Dele Adeyinka noted that 10 years after the launching of the Payment System Vision (PSV) 20:2020 with the National Financial Inclusion Strategy (NFIS) as its central theme, a significant number of eligible Nigerians are still outside of the financial system. “Today, it can be argued that Nigeria has made rapid advancements in creating a robust payment system
particularly in the area of fostering stability and confidence in the entire banking and payment ecosystem. “However, ten years after the inauguration of the payment systems vision 20:2020 as a driver for financial inclusion, even with the incursion of fintech and other payment facilitators into the payment equation, a significant number of eligible Nigerians are still outside of the financial system,� he said. Adeyinka noted that presently about 39 million adults in Nigeria do not have access to the basic financial services that can help them manage cash for daily transactions, invest in opportunities and protect themselves against risks. “Our aim at this retreat is therefore to evaluate the Nigeria’s payment system developments from inception to date, with a view to determine if the policy has achieved its objectives as well as look ahead into 2018 – 2020, which is the final lap of the implementation and to see areas where there is need for focus,� he added.
NBCC Elects Olawore President The Nigerian-British Chamber of Commerce (NBCC) has announced the emergence of Mr. Akinola Olawore as its 15th president. To this end, the council has concluded plan to hold its Presidential Dinner and Inauguration of Olawore in Lagos this Friday. A statement yesterday described Olawore as a Chartered Surveyor and Valuer of repute with over 30 years’ experience in all aspects of Estate Surveying and valuation. He had at various times in his career led several teams on valuation of Heavy Industries such as Oil and Gas Installations, Breweries, Pharmaceutical Industries and Heritage Properties. Olawore is an adjunct Professor of Real Estate at the Homburg Academy, Charlotte Town, Canada and an affiliate Partner of International Realty Valuation Inc. San Diego, USA.
Speaking ahead of the Inauguration, outgoing President of the organisation Prince Adedapo Adelegan expressed confidence in the recently elected president, stating that his pedigree and accomplishments are attestations to the dynamism which he would bring in driving forward the objectives of the Chamber. “The Nigerian-British Chamber of Commerce is one of the country’s largest and most broadly-based business organisation and revered for its high-quality policies and strategic advocacy having built a business friendly Chamber since inception in 1977. “Tasked with promoting two-way trade and investment opportunities between Nigeria and Britain, the Chamber places emphasis on enhancing relationships towards building critical infrastructure that would support Nigeria’s economic
growth, especially in the agriculture sector. Highlighting the many achievements of the Chamber and its Governing Council, outgoing President, Prince Adedapo Adelegan continued that trade relations between Nigeria and the UK government remain at an all-time high, stating that during his tenure, trade and investments grew to about ÂŁ7 billion, from ÂŁ4 billion per annum back in 2010. In expanding the focus of the Chamber in recent times, the NBCC is also honing in on women entrepreneurs by amplifying their viable contributions to economic growth. To this end, the Chamber will on Thursday 7th December, 2017 hold a Frempreneur exhibition and conference titled; bridging the Gap in Economic Development, at the Grand ballroom, Intercontinental hotel in Lagos.
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
AUGUST 2017 Broad Money (M2)
21,851,454.31
-- Narrow Money (M1)
9,890,813.10
---- Currency Outside Banks
1,523,239.91
---- Demand Deposits
8,367,573.19
-- Quasi Money
11,960,641.22
Net Foreign Assets (NFA)
9,732,990.89
Net Domestic Assets(NDA)
12,118,463.42
-- Net Domestic Credit (NDC)
26,821,446.81
---- Credit to Government (Net)
4,824,226.22
---- Memo: Credit to Govt. (Net) less FMA
7,834,536.74
---- Memo: Fed. and Mirror Accounts (FMA)
--3,010,310.52
---- Credit to Private Sector (CPS)
21,997,220.59
--Other Assets Net
--14,702,983.39
Reserve Money (Base Money)
5,486,804.65
--Currency in Circulation
1,868,735.07
--Banks Reserves
3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
Money Market Indicators (in Percentage) Month
August 2017
Inter-Bank Call Rate
22.63
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
13.35
Savings Deposit Rate
4.08
1 Month Deposit Rate
8.86
3 Months Deposit Rate
10.14
6 Months Deposit Rate
11.51
12 Months Deposit Rate
11.40
Prime Lending rate
17.69
Maximum Lending Rate
31.20 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ
OPEC DAILY BASKET PRICE AS AT FRIDAY NOVEMBER 24, 2017
The price of OPEC basket of fourteen crudes stood at $61.64 a barrel on Friday, compared with $61.14 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna
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T H I S D AY Ëž Ëœ Í°ÍśËœ Í°ÍŽÍŻÍľ
MARKET NEWS
Global Spectrum Listing Adds N4bn to NSE Market Capitalisation Goddy Egene and Nosa Alekhuogie The listing of the shares of Global Spectrum Energy Services (GSES) Plc added N4 billion to the market capitalisation of the Nigerian Stock Exchange (NSE). A total of 800 million shares of GSES were listed on the NSE yesterday at N5 per share amounting to N4 billion. Speaking at the listing ceremony,
the Managing Director/CEO of GSES, Mr. Colm Doyle said the company is embarking on expansion and diversification of its product base to further strengthen the business capacity and profitability of the company. Doyle said that apart from the expansion, the firm has also decided to give out minimum of 30 per cent of its profit before tax as dividend to its shareholders. According to him, the company
has acquired a prime waterfront site in Port Harcourt for the development of a 50 million litres capacity tank farm with storage capacity for refined petroleum PMS, AGO, DPK and a 6.000 metric tonnes LPG storage facilities. He also added that the company in conjunction with its partners, Aegean Marine Petroleum in Greece will develop 10,000 metric ton ultra-modern lubricants blend-
ing plant as well as a state of the art laboratory situated at the tank farm site in Port Harcourt. Doyle stated that GSES is the local supplier of Aegean marine lubricants in Nigeria, saying Aegean Marine Petroleum, apart from being a leading global bunker physical supplier has also been trading marine lubricants for more than 16 years, supplying vessels worldwide from carefully selected major marine brands. Furthermore,
he noted that the company is seeking to build capacity in its Nigerian owned and flagged vessels, because they have a distinct competitive advantage in the maritime sector. Speaking on the Company’s performance in the last five years, the CEO said turnover grew from N986.45 million in 2013 to N934.62 million in 2017, while profit before grew from N165.31 million in 2013 to N347.13 in the
PRICES FOR SECURITIES TRADED AS OF 27/11/2017
10 months of 2017. He said the company is targeting a turnover of N3.88 billion in 2018 and N8.1 billion in 2022. In similar vein, net operating income will grow from N2.04 billion to N4.43 billion in 2022, while profit before tax to increase from N847.87 million to N2.62 billion in the next five years, just as company’s asset base to grow to N14.09 billion from N5.46 billion.
˜ ͰͶ˜ ͺ͵ ˾ T H I S D AY
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Nigeria Daily Stock Market Report: dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ƐŚĞĚƐ ϰϯďƉƐ
THISDAY AFRINVEST 40 INDEX
dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ƐŚĞĚ ϰϯďƉƐ ŽŶ DŽŶĚĂLJ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϰϳϲ͘ϱϬ ƉŽŝŶƚƐ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ E/d, ;Ͳϭ͘ϬйͿ͕ ^^ ;ͲϬ͘ϲйͿ͕ ĂŶĚ h ;ͲϬ͘ϰйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϯ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞdž͘ dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ŚĂƐ ƌĞƚƵƌŶĞĚ ϰϳ͘ϳй zd ͘
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
Ticker
ĂŶŬŝŶŐ ^ƚŽĐŬƐ ƌĂŐ >ŽĐĂů ŽƵƌƐĞ͙ E^ ^/ ĚŽǁŶ ϯϭďƉƐ dŚĞ EŝŐĞƌŝĂŶ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĐůŽƐĞĚ ƚŚĞ ƚƌĂĚŝŶŐ ĚĂLJ ŶĞŐĂƟǀĞ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ůŽƐƚ ϯϭďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϯϳ͕ϮϱϬ͘ϳϴ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŵŽĚĞƌĂƚĞĚ ƚŽ ϯϴ͘ϲй͘ ZĞƐƵůƚĂŶƚůLJ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ Eϯϲ͘ϭďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ƐĞƩůĞĚ Ăƚ EϭϮ͘ϵƚŶ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ŶĞŐĂƟǀĞ WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĂƩƌŝďƵƚĂďůĞ ƚŽ ůŽƐƐĞƐ ŝŶ ďĂŶŬŝŶŐ ƐƚŽĐŬƐͲ ^d E / ;Ͳϰ͘ϳйͿ͕ E/d, ;Ͳϭ͘ϬйͿ͕ d/ ;Ͳϯ͘ϬйͿ ĂŶĚ ^^ ;ͲϬ͘ϲйͿ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ŝŶĐŚĞĚ ϴ͘ϯй ŚŝŐŚĞƌ ƚŽ ƐĞƩůĞ Ăƚ ϵϰϮ͘ϳŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ĚŝƉƉĞĚ ϱ͘Ϯй ƚŽ ĐůŽƐĞ Ăƚ Eϰ͘ϴďŶ͘
ĂŶŬŝŶŐ /ŶĚĞdž ƌĂŐƐ WĞƌĨŽƌŵĂŶĐĞ ^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ͕ ŽŶĞ ƚƌĞŶĚĞĚ ƐŽƵƚŚǁĂƌĚƐ ĂŶĚ ƚŚĞ ŽƚŚĞƌ ŇĂƚ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ĞŵĞƌŐĞĚ ƚŚĞ ůŽŶĞ ůŽƐĞƌ͕ ĚŽǁŶ Ϭ͘ϲй ŽǁŝŶŐ ƚŽ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ d/ ; Ͳϯ͘ϬйͿ͕ E/d, ;Ͳϭ͘ϬйͿ ĂŶĚ ^^ ;ͲϬ͘ϲйͿ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ůĞĚ ŐĂŝŶĞƌƐ͕ ƵƉ Ϭ͘ϯй ĚƵĞ ƚŽ ƵƉƟĐŬƐ ŝŶ E/' Z/ E Z t Z/ ^ ;нϬ͘ϵйͿ͕ E'^h' Z ;нϯ͘ϯйͿ ĂŶĚ W ;нϯ͘ϰйͿ͘ dŚĞ ŝŶƐƵƌĂŶĐĞ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ƵƉ Ϭ͘Ϯй ŽŶ ĂĐĐŽƵŶƚ ŽĨ ŐĂŝŶƐ ŝŶ KEd/E^hZ ;нϮ͘ϵйͿ ĂŶĚ > thE/KE ;нϰ͘ϵйͿ͘ ^ŝŵŝůĂƌůLJ͕ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ &KZd K/> ;нϮ͘ϱйͿ ƉƵƐŚĞĚ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž Ϭ͘ϭй ŚŝŐŚĞƌ͘ dŚĞ /ŶĚƵƐƚƌŝĂů ŐŽŽĚƐ ŝŶĚĞdž ĐůŽƐĞĚ ƚŚĞ ĚĂLJ ŇĂƚ͘ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞƌƐͬ ĚĞĐůŝŶĞƌƐ ƌĂƟŽͿ ƐŽŌĞŶĞĚ ƚŽ Ϭ͘ϴdž ĨƌŽŵ ϭ͘ϰdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ &ƌŝĚĂLJ ĂƐ ϭϴ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϯϰ ĚĞĐůŝŶĞƌƐ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ > thE/KE ;нϰ͘ϵйͿ͕ E , K ;нϰ͘ϵйͿ ĂŶĚ E'&>KhZ ;нϰ͘ϬйͿ ǁŚŝůĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ ǁĞƌĞ /Z^ Zs/ ;Ͳϰ͘ϵйͿ͕ WKZdW /Ed ;Ͳϰ͘ϴйͿ ĂŶĚ hW> ;Ͳϰ͘ϳйͿ͘ &ŽůůŽǁŝŶŐ ƚŚĞ ŶĞŐĂƟǀĞ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ LJĞƐƚĞƌĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ Ͳ ĞƐƉĞĐŝĂůůLJ ŝŶ ďĂŶŬŝŶŐ ƐƚŽĐŬƐ Ͳ ƚŽ ďƵŽLJ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ͘ ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ ĐŽďĂŶŬ dƌĂŶƐŶĂƟŽŶĂů /ŶĐŽƌƉŽƌĂƚĞĚ WůĐ ; ͞ d/͟ Žƌ ͞ƚŚĞ ĂŶŬ͟Ϳ ĐŽďĂŶŬ dƌĂŶƐŶĂƟŽŶĂů /ŶĐŽƌƉŽƌĂƚĞĚ WůĐ ;͞ d/͟ Žƌ ͞ƚŚĞ ĂŶŬ͟Ϳ͕ ƐŝŶĐĞ ŝƚƐ ĞƐƚĂďůŝƐŚŵĞŶƚ ŝŶ ϭϵϴϱ ĂƐ Ă ƉƌŝǀĂƚĞ ƐĞĐƚŽƌ ŝŶŝƟĂƟǀĞ͕ ŚĂƐ ŐƌŽǁŶ ďƌĂŶĐŚĞƐ ĂĐƌŽƐƐ ϰϬ ĐŽƵŶƚƌŝĞƐ ŝŶ tĞƐƚ͕ ĞŶƚƌĂů͕ ĂƐƚ ĂŶĚ ^ŽƵƚŚ ĨƌŝĐĂ ǁŝƚŚ ůŝĐĞŶƐĞĚ ŽƉĞƌĂƟŽŶ ŝŶ WĂƌŝƐ ŝŶ ĂĚĚŝƟŽŶ ƚŽ ƌĞƉƌĞƐĞŶƚĂƟǀĞ ŽĸĐĞƐ ŝŶ ĞŝũŝŶŐ͕ ƵďĂŝ͕ :ŽŚĂŶŶĞƐďƵƌŐ͕ >ŽŶĚŽŶ ĂŶĚ >ƵĂŶĚĂ͘ d/ ĐŽŶƟŶƵĞƐ ƚŽ ĚƌŝǀĞ ƌĞǀĞŶƵĞ ƚŚƌŽƵŐŚ ŝƚƐ ƐƚƌĂƚĞŐŝĐ ďƵƐŝŶĞƐƐ ƐĞŐŵĞŶƚƐ ĐŽǀĞƌŝŶŐ ŽŶƐƵŵĞƌ͕ ŽŵŵĞƌĐŝĂů ĂŶĚ ŽƌƉŽƌĂƚĞ Θ /ŶǀĞƐƚŵĞŶƚ ďĂŶŬŝŶŐ͘ dŚĞ ĂŶŬ ŝƐ ĐůĂƐƐŝĮĞĚ ǁŝƚŚŝŶ ŽƵƌ dŝĞƌͲϭ ƵŶŝǀĞƌƐĞ ǁŝƚŚ ƚŽƚĂů ĂƐƐĞƚƐ ŽĨ Eϲ͘ϰƚŶ ĂƐ Ăƚ ϵD͗ϮϬϭϳ͘ d/ ŚĂƐ ŵĂĚĞ ĚŝŐŝƚĂů ďĂŶŬŝŶŐ Ă ŬĞLJ ĨŽĐƵƐ ǁŝƚŚ ƚŚĞ ůĂƵŶĐŚ ŽĨ ŵsŝƐĂ Ͳ Ă WĂŶ ĨƌŝĐĂŶ DŽďŝůĞ ƉƉ ʹ ŝŶ Yϰ͗ϮϬϭϲ͘ dŚĞ ƉƉ ŐŝǀĞƐ ĐŽŶƐƵŵĞƌƐ ƚŚĞ ĂďŝůŝƚLJ ƚŽ ƵƐĞ ƚŚĞŝƌ ŵŽďŝůĞ ƉŚŽŶĞƐ ƚŽ ŵĂŬĞ ƉĞƌƐŽŶ ƚŽ ŵĞƌĐŚĂŶƚ Žƌ ƉĞƌƐŽŶ ƚŽ ƉĞƌƐŽŶ ƉĂLJŵĞŶƚ͘ /Ŷ ĂĚĚŝƟŽŶ͕ ƚŚĞ ĂŶŬ ůĂƵŶĐŚĞĚ ĐĂƌĚůĞƐƐ ĐĂƐŚ ǁŝƚŚĚƌĂǁĂů ƐĞƌǀŝĐĞ ŝŶ Yϰ͗ϮϬϭϳ ƚŽ ŝŵƉƌŽǀĞ ĐƵƐƚŽŵĞƌ ĞdžƉĞƌŝĞŶĐĞ͘͘ d/ ŝƐ Ăƚ Ă ƌĞĐŽǀĞƌLJ ƐƚĂŐĞ ĂŌĞƌ ƐĞǀĞƌĞ ĂƐƐĞƚ ƋƵĂůŝƚLJ ĚĞƚĞƌŝŽƌĂƟŽŶ͕ ƐƵīĞƌĞĚ ŝŶ ŝƚƐ EŝŐĞƌŝĂŶ ŽƉĞƌĂƟŽŶƐ͕ ǁŚŝĐŚ ĚƌĂŐŐĞĚ ƚŚĞ ĞĂƌŶŝŶŐƐ ŽĨ ƚŚĞ 'ƌŽƵƉ ƚŽ ŝŶ &z͗ϮϬϭϲ ŐŝǀĞŶ ƚŚĂƚ ϯϬ͘ϴй ŽĨ ůŽĂŶ Ŭ ŝƐ ƐŬĞǁĞĚ ƚŽ EŝŐĞƌŝĂ ĂŶĚ ϯϳ͘Ϭй ŽĨ ŐƌŽƐƐ ĞĂƌŶŝŶŐƐ ĐŽŵĞ ĨƌŽŵ EŝŐĞƌŝĂŶ ŽƉĞƌĂƟŽŶƐ͘ dŚĞ ĂŶŬ ƐƵĐĐĞƐƐĨƵůůLJ ŝƐƐƵĞĚ h^ΨϰϬϬ͘Ϭŵ ĐŽŶǀĞƌƟďůĞ ďŽŶĚ ŝŶ Yϰ͗ϮϬϭϳ ǁŝƚŚ ƉĂƌƚ ŽĨ ƚŚĞ ƉƌŽĐĞĞĚƐ ƉůĂŶŶĞĚ ƚŽ ďĞ ƵƐĞĚ ƚŽ ƌĞƉĂLJ ƐŚŽƌƚ ƚĞƌŵ ďƌŝĚŐĞ ĮŶĂŶĐŝŶŐ ĨŽƌ ƚŚĞ ĐƌĞĂƟŽŶ ŽĨ Ă ͞ZĞƐŽůƵƟŽŶ sĞŚŝĐůĞ͟ ʹ ĂŶ ^Ws ƐĞƚ ƵƉ ƚŽ ŚŽůĚ ĐŚĂůůĞŶŐĞĚ ĂƐƐĞƚƐ ŽŶ ǁŚŝĐŚ ĂŐŐƌĞƐƐŝǀĞ ƌĞĐŽǀĞƌLJ ĂĐƟŽŶƐ ĂƌĞ ƚŽ ďĞ ƚĂŬĞŶ ʹ ǁŚŝůĞ ƚŚĞ ďĂůĂŶĐĞ ŝƐ ƚŽ ƌĞĮŶĂŶĐĞ ĞdžŝƐƟŶŐ ƐŚŽƌƚ ƚĞƌŵ ĚĞďƚ͘
/Ŷ ƚŚĞ ĂŶŬ͛Ɛ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ͕ 'ƌŽƐƐ ĂƌŶŝŶŐƐ ŐƌĞǁ Ϯϯ͘ϲй zͲŽͲz ĨƌŽŵ Eϰϱϲ͘ϳďŶ ƚŽ Eϱϲϰ͘ϱďŶ͘ dŚŝƐ ǁĂƐ ĚƌŝǀĞŶ ďLJ Ă ϭϲ͘ϰй ŝŶĐƌĞĂƐĞ ŝŶ /ŶƚĞƌĞƐƚ /ŶĐŽŵĞ ƚŽ Eϯϱϯ͘ϰďŶ ĂŶĚ ϯϳ͘ϯй ŝŶĐƌĞĂƐĞ ŝŶ EŽŶͲ ŝŶƚĞƌĞƐƚ /ŶĐŽŵĞ ƚŽ Eϭϵϳ͘ϰďŶ͘ Ɛ Ă ƌĞƐƵůƚ͕ W d ƌŽƐĞ ϭϭ͘Ϭй ĨƌŽŵ EϱϮ͘ϭďŶ ƚŽ Eϱϳ͘ϴďŶ͘ /ŶǀĞƐƚŽƌƐ͛ ƌĞĂĐƟŽŶ ƚŽ ƚŚĞ ƌĞƐƵůƚ ƐĞĞŵƐ ƚŽ ďĞ ŵŝůĚůLJ ƉŽƐŝƟǀĞ ĂƐ ƚŚĞ ƐŚĂƌĞ ƉƌŝĐĞ ƌŽƐĞ ĨƌŽŵ Eϭϳ͘ϬϬ ďĞĨŽƌĞ ƚŚĞ ƌĞůĞĂƐĞ ŽĨ ƚŚĞ ƌĞƐƵůƚ ƚŽ Ă ŚŝŐŚ ŽĨ Eϭϳ͘ϰϵ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ͘ tĞ ĂƌĞ ŽĨ ƚŚĞ ǀŝĞǁ ƚŚĂƚ ƌĞŶĞǁĞĚ ĞīŽƌƚƐ ƚŽǁĂƌĚƐ ĂŐŐƌĞƐƐŝǀĞ ƌĞĐŽǀĞƌLJ ĐŽƵƉůĞĚ ǁŝƚŚ ƚŚĞ ƐĞƚƵƉ ŽĨ ƚŚĞ ^Ws ǁŝůů ŚĞůƉ ŝŶ ĨƵƌƚŚĞƌ ĚƌŝǀŝŶŐ ĚŽǁŶ EW> ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ͘
Afrinvest Securities Limited
(RC 603 315)
(A Dealing Member of the Nigerian Stock Exchange)
Tuesday, November 28, 2017
THISDAY AFRINVEST 40 1
Guaranty Trust Bank PLC
2
Nigerian Breweries PLC
3
Zenith Bank PLC
4
Dangote Cement PLC
5
Nestle Nigeria PLC
Previous Current Price Weighting Change
Price Change YTD
Price Change Index to Date
ROE
ROA
P/E
P/BV
1,476.50
-0.43%
47.7%
47.7%
20.1%
6.3%
6.5x
0.7x
4.2%
12.1%
42.05
0.1%
23.1%
70.2%
70.2%
26.0%
4.3%
8.7x
2.2x
4.9%
11.4%
131.17
0.8%
9.4%
-11.4%
-11.4%
18.9%
8.6%
32.3x
5.9x
2.7%
3.1%
24.73
-1.0%
13.1%
67.7%
67.7%
21.7%
3.2%
4.9x
1.0x
8.2%
20.5%
Current Price
Divinden Earnings d Yield Yield
240.00
0.0%
6.8%
37.9%
37.9%
30.4%
15.7%
16.6x
4.7x
3.5%
6.0%
1,290.00
0.0%
7.0%
59.3%
59.3%
78.4%
19.0%
33.6x
22.2x
1.9%
3.0%
-0.6%
6
Access Bank PLC
9.71
4.4%
65.4%
65.4%
15.1%
2.0%
3.9x
0.6x
6.7%
25.6%
7
United Bank for Africa PLC
9.86
-0.4%
5.6%
119.1%
119.1%
17.2%
2.2%
4.3x
0.7x
7.6%
23.1%
8
FBN Holdings Plc
6.91
-0.6%
4.5%
106.3%
106.3%
2.6%
0.3%
11.2x
0.4x
2.9%
8.9%
9
Ecobank Transnational Inc
16.46
-3.0%
2.9%
60.1%
60.1%
-14.6%
-1.3%
0.6x
3.7%
-21.1%
10
Lafarge Africa PLC
7.6x
2.0%
22.4%
50.00
0.0%
1.9%
29.0%
29.0%
47.1%
9.8%
495.00
0.0%
4.5x
11
SEPLAT Petroleum Development C
1.8%
30.3%
30.3%
-12.4%
-6.7%
12
Unilever Nigeria PLC
40.04
-2.1%
1.6%
25.8%
25.8%
50.3%
8.4%
24.7x
0.6x 9.4x
0.2%
4.1%
13
Stanbic IBTC Holdings PLC
40.00
-4.7%
2.9%
166.7%
166.7%
28.7%
3.4%
9.2x
2.4x
1.5%
10.8%
14
Guinness Nigeria PLC
100.00
-2.0%
1.4%
27.2%
27.2%
4.5%
1.4%
70.4x
3.5x
0.6%
15
Oando PLC
5.99
0.0%
1.3%
27.4%
27.4%
40.7%
4.2%
2.7x
0.6x
37.0%
16
Forte Oil PLC
9.7%
41.00
2.5%
0.5%
-51.4%
-51.4%
44.3%
3.7%
10.4x
4.6x
-1.2%
-21.1%
1.4%
17
11 PLC
167.90
0.5%
-39.8%
-39.8%
32.6%
12.0%
8.9x
2.5x
4.8%
18
Total Nigeria PLC
230.00
0.0%
0.6%
-23.1%
-23.1%
37.3%
7.4%
8.6x
3.0x
2.6%
11.7%
19
Okomu Oil Palm PLC
68.00
0.0%
1.1%
69.3%
69.3%
37.4%
25.9%
9.1x
3.0x
2.2%
11.0%
20
UAC of Nigeria PLC
16.90
0.0%
0.6%
2.4%
2.4%
6.3%
2.2%
10.8x
0.7x
5.8%
9.2%
21
Conoil PLC
28.00
0.0%
0.4%
-25.3%
-25.3%
12.8%
3.5%
8.1x
1.1x
11.1%
12.3%
22
Fidelity Bank PLC
65.9%
11.2%
1.74
2.4%
0.9%
107.1%
107.1%
8.0%
1.1%
1.5x
0.3x
8.0%
3.3%
1.3%
191.5%
191.5%
23.8%
10.3%
6.9x
3.0x
2.8%
14.4%
0.8%
83.9%
83.9%
10.4%
2.6%
8.6x
0.9x
2.9%
11.7%
4.1x
0.7x
7.2%
23
Dangote Sugar Refinery PLC
17.81
24
Flour Mills of Nigeria PLC
34.00
-2.9%
25
Custodian and Allied Insurance
3.90
-2.5%
0.4%
0.3%
0.3%
18.9%
7.6%
26
7 UP Bottling Co PLC
92.50
0.0%
0.3%
-28.3%
-28.3%
-56.7%
-13.9%
4.5x
-18.2%
27
Julius Berger Nigeria PLC
28.00
0.0%
0.3%
-27.4%
-27.4%
-12.2%
-1.2%
1.5x
-8.1%
-4.5%
24.5%
28
FCMB Group Plc
1.07
0.4%
-2.7%
-2.7%
3.8%
0.6%
3.1x
0.1x
29
Transnational Corp of Nigeria
1.35
3.1%
0.6%
55.2%
55.2%
19.6%
4.1%
5.4x
0.9x
30
Diamond Bank PLC
1.17
0.9%
0.5%
33.0%
33.0%
2.5%
0.3%
4.7x
0.1x
31
Presco PLC
66.00
0.0%
0.5%
64.6%
64.6%
42.9%
25.9%
3.3x
1.1x
2.3%
30.7%
32
PZ Cussons Nigeria PLC
23.87
3.8%
0.5%
64.6%
64.6%
11.5%
5.8%
20.4x
2.2x
2.1%
4.9%
33
International Breweries PLC
57.84
-0.3%
0.9%
212.6%
212.6%
24.6%
7.4%
60.6x
13.8x
34
Cadbury Nigeria PLC
11.75
-0.3%
0.3%
14.2%
14.2%
4.5%
1.6%
33.5x
2.0x
3.0%
35
Union Bank of Nigeria PLC
6.20
0.0%
0.3%
29.9%
30.0%
5.6%
1.2%
7.9x
0.4x
12.6%
36
Chemical and Allied Products P
34.00
0.0%
0.2%
6.3%
6.3%
84.3%
38.5%
14.8x
10.4x
37
Sterling Bank PLC
1.00
0.0%
0.2%
31.6%
31.6%
6.1%
0.6%
5.3x
0.3x
38
GlaxoSmithKline Consumer Niger
22.80
0.0%
0.3%
44.8%
44.8%
61.2%
23.6%
4.7x
1.7x
1.3%
0.0%
0.1%
22.8%
22.8%
11.9%
3.9%
10.2x
1.2x
2.4%
3.0%
0.1%
39.4%
39.4%
9.6%
4.4%
8.1x
0.7x
39
AXA Mansard Insurance PLC
2.05
40
Continental Reinsurance PLC
1.38
T o p 10 G a ine r s T ic k er
9.3%
32.2% 18.5% 21.2%
1.7%
6.5%
6.7% 19.0% 21.2% 9.8% 12.4%
T o p 10 T r a d e s b y V o l u m e
P ric e
P ric e C hg %
T ic k er
Vo lum e
P ric e C hg %
LA WUN ION
0.64
4.9%
WA P IC
650.5
0.0%
NA HCO
4.09
4.9%
T A N T A LIZ ER
43.8
0.0%
D A N GF LOUR
9.60
4.0%
F ID ELIT YB K
31.9
2.4%
PZ
23.87
3.8%
Z EN IT H B A N K
25.6
-1.0%
N A SC ON
15.60
3.3%
T R A N SC OR P
19.9
3.1%
D A N GSUGA R
17.81
3.3%
FB NH
17.8
-0.6% -0.6%
T R A N SC OR P
1.35
3.1%
A C C ESS
14.5
C ON T IN SUR E
1.38
3.0%
D IA M ON D B N K
14.4
0.9%
FO
41.00
2.5%
UB A
14.3
-0.4%
C UT IX
2.06
2.5%
FCM B
12.1
-4.5%
T o p 10 T r a d e s b y V a l u e
T o p 10 L o s e r s P ric e
P ric e C hg %
T ic k er
Value
P ric e C hg %
A IR SER VIC E
5.85
-4.9%
D A N GC EM
987.9
0.0%
P OR T P A IN T
2.00
-4.8%
Z EN IT H B A N K
636.7
-1.0%
UP L
2.41
-4.7%
IN T B R EW
477.8
-0.3%
40.00
-4.7%
NB
428.3
0.8%
0.61
-4.7%
WA P IC
325.3
0.0%
T ic k er
ST A N B IC LIN KA SSUR E FCM B
1.07
-4.5%
GUA R A N T Y
259.1
0.1%
NP FM CRFB K
1.25
-3.8%
UN ILEVER
238.5
-2.1%
LIVEST OC K
0.85
-3.4%
N A SC ON
172.2
3.3%
ET I
16.46
-3.0%
UA C N
156.5
0.0%
F LOUR M ILL
34.00
-2.9%
A C C ESS
141.5
-0.6%
Investment Research
Brokerage Ayodeji Ebo | aebo@afrinvest.com
Robert Omotunde | romotunde@afrinvest.com
Bolaji Fajenyo | bfajenyo@afrinvest.com
Omotola Abimbola | oabimbola@afrinvest.com
33
˾ TUESDAY, NOVEMBER 28, 2017
MARKET NEWS
Moraccan,Nigerian Stockbrokers Sign Pact toStrengthenCollaboration In a strategic move to establish a seamless relationship between the Nigerian Stock Exchange (NSE) and its Casablanca counterpart, the two exchanges under the aegis of Association of Stockbroking Houses of Nigeria (ASHON) and Association Professionnelle des Sociétés de Bourse (APSB) of Morocco have signed a Memorandum of Understanding (MoU) in Lagos yesterday. The MoU was signed by ASHON’s Chairman, Chief Patrick Ezeagu and
his APBS counterpart, Mr. Rachid Outariatte and it was a follow-up to the MoU signed by the NSE and CSE aimed at enhancing inter-connectivity between the two exchanges. Speaking after the signing ceremony, Ezeagu explained that the MoU was to bring the relationship between two exchanges to the level of stockbrokers for enhanced professionalism and accelerated market development in both exchanges. Ezeagu noted that the pact had provided a framework
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
through which the two professional bodies could strategize in order to realize the objectives of collaborative efforts. According to him, the overriding objective is how to move the two markets forward through innovative products, development of human capital and regular exchange of information. Corroborating him, Outariatte explained that the MoU between ASHON and APBS was a derivative of the one
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 24-Nov-2017, unless otherwise stated.
between exchange and APBS. He stated that both professional associations had similar interest and the new relationship would bring about mutual development. He said Nigeria remained a big market in Africa and a place of choice for any client who intends to diversify portfolio. Outariatte assured ASHON that clients from Morocco would be encouraged to take advantage of investment opportunities in the Nigeria’s Capital Market. By the MoU, the two professional bodies shall
co-operate on the strength of exchange of experience between the two professional bodies through mutual visits of stockbrokers and analysts of each Associations in order to take advantage of both markets, establishment of a broker access system, exchange of information within the limit of confidentiality on the issues affecting and the Nigeria’s and Moroccan’s capital market and the national economy. The MoU also cover organising study tour of staff for enhanced knowledge of
capital markets in both countries, sharing knowledge and best practices pertaining to trading and post trading, developing processes and procedures for a dual listing of both Moroccan companies on the NSE companies on the CSE. Others include organising joint events, conferences and workshops to improve understanding of the capital markets in both countries and analysing business opportunities, risks, threats and trade limitations on both markets.
Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 178.60 179.83 40.84% Nigeria International Debt Fund 234.59 235.95 11.04% 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 0.82 0.83 17.10% ACAP Income Funds 0.63 0.63 79.70% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 18.04% 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 18.13 18.68 46.87% ARM Discovery Fund 378.59 390.01 31.83% ARM Ethical Fund 26.66 27.47 19.35% ARM Money Market Fund 1.00 1.00 17.72% 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 148.44 149.48 41.13% AXA Mansard Money Market Fund 1.00 1.00 17.84% 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 18.68% Paramount Equity Fund 12.07 12.38 28.96% Women's Investment Fund 98.08 100.60 15.94% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 18.24% CORONATION ASSEST MANAGEMENT investment@coronation.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 17.70% Coronation Balanced Fund 1.00 1.01 0.47% Coronation Fixed Income Fund 1.00 1.03 1.56% FBN QUEST 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 1,122.05 1,123.22 10.68% FBN Heritage Fund 148.46 149.74 33.17% FBN Money Market Fund 100.00 100.00 17.90% FBN Nigeria Eurobond (USD) Fund - Institutional $111.57 $112.40 8.40% FBN Nigeria Eurobond (USD) Fund - Retail $111.05 $111.95 8.67% FBN Nigeria Smart Beta Equity Fund 159.02 161.35 41.24% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.37 1.40 47.21% Legacy Short Maturity (NGN) Fund 2.95 2.95 14.64% 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 2,910.86 2,950.95 32.38% Coral Income Fund 2,428.22 2,428.22 16.50% 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 17.51% 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 17.30% Vantage Balanced Fund 2.08 2.11 23.88%
Vantage Guaranteed Income Fund 1.00 1.00 18.45% Kedari Investment Fund (KIF) 113.42 113.42 16.90% 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 1.17 1.19 18.60% Lotus Halal Fixed Income Fund 1,041.53 1,041.53 10.54% 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 13.09 13.21 35.51% Meristem Money Market Fund 10.00 10.00 18.73% 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 1.22 1.24 22.68% PACAM Fixed Income Fund 10.93 10.99 5.15% PACAM Money Market Fund 10.00 10.00 14.24% 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 131.49 133.53 29.62% 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 1.42 1.42 14.04% 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 2,214.76 2,228.03 20.97% Stanbic IBTC Bond Fund 174.87 174.87 13.58% Stanbic IBTC Ethical Fund 0.99 1.00 29.22% Stanbic IBTC Guaranteed Investment Fund 216.78 216.78 15.99% Stanbic IBTC Iman Fund 174.54 176.81 34.44% Stanbic IBTC Money Market Fund 100.00 100.00 17.72% Stanbic IBTC Nigerian Equity Fund 9,536.73 9,648.68 25.77% Stanbic IBTC Dollar Fund (USD) 1.05 1.05 5.00% 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 1.32 1.33 17.85% United Capital Bond Fund 1.52 1.52 24.25% United Capital Equity Fund 0.91 0.93 35.19% United Capital Money Market Fund 1.00 1.00 17.40% 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 12.70 12.88 30.56% Zenith Ethical Fund 13.39 13.54 22.20% Zenith Income Fund 18.88 18.88 14.11%
REITS NAV Per Share
Yield / T-Rtn
11.41 131.82
1.01% 6.33%
Bid Price
Offer Price
Yield / T-Rtn
11.36 138.11 106.86
11.46 141.10 108.88
31.48% 39.61% 41.02%
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
4.51 8.58 16.93 19.83 143.54
4.55 8.66 17.03 20.03 145.54
62.86% 21.92% 43.07% 24.17% 13.11%
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.
34
T H I S D AY TUESDAY NOVEMBER 28, 2017
UTILIZATION OF FOREIGN EXCHANGE AS AT 24TH OF NOVEMBER 2017 S/N 1
CUSTOMERS KAM IND
RATE DATE 306.50 20-Nov-17
S/N 80
CUSTOMERS CBN
RATE DATE 357.00 21-Nov-17
S/N 159
CUSTOMERS IBIA VIVIAN EKAETE
2 3 4 5 6 7
OKONKWO OKWUCHUKWU WILLIAMS HADDYBAKS ENTERPRISES SEA JOPAN LTD OKAFOR LOUIS MADUKA OMO FELIX BRIGHT OYENIYI OLANIKE AFUSAT
AMOUNT (US$) PURPOSE 75,000.00 HOT ROLLING MILL PLANT MATERIAL 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00
BTA BTA BTA BTA BTA BTA
360.00 360.00 360.00 360.00 360.00 360.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
81 82 83 84 85 86
MARY A PHILIPS EVA EDWARDS OGBONLAIYE GRACE OLAYEMI FAGBAMIYE OLUWOLE ABIMBOLA UBAH KELECHUKWU KENNERH ODUTAYO OLABISI IYABODE
AMOUNT (US$) PURPOSE 331,880.21 UNUTILIZED IMTO TRANSFERRED TO CBN 2,970.15 4,000.00 4,000.00 4,000.00 3,994.97 3,991.32
LIVING EXPENSE PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
160 161 162 163 164 165
OMOLOLA O LAWAL AYOOLA TAIWO OLAJUMOKE ABDULRAHAIM YUSUF OLUGBENRO O ODETUNDE EBUBE EMMANUEL ONUGHA OKPETERE SAGAY
11,000.00 1,207.00 1,000.00 750.00 559.00 500.00
8 9 10 11 12 13
VILLA GARDEN HOTELS LTD UGBOR UCHENNA BENEDICT UGBOR CLARA CHINENYE TSEKIRI BEAUTY PACE IMAGE CHRONICLE JABARU IDIATU ATINUKE
5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00
BTA BTA BTA BTA BTA BTA
360.00 360.00 360.00 360.00 360.00 360.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
87 88 89 90 91 92
NWORGU DENNIS-JUDE CHUKWUDI CHIEF SANUSI SHOLA SUNMONU AKANDE OLADIPO ABDUL AKANDE ADENIKE OLUWAYEMISI ONAFOWOKAN WULAIMOT O. EZEH CYNTHIA CHINATU
3,963.65 3,938.82 3,500.00 3,000.00 3,000.00 3,000.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
166 167 168 169 170 171
GLORIA T DIKIBO CBN CBN NIGERIAN BOTTLING CO LTD AIR PEACE LTD FALEKE ESTHER BUKUNOLA
332.00 229,631.93 273,138.73 636.66 44,354.23 5,000.00
14 15 16 17 18 19
ABUBAKAR GARBA IBRAHIM OYENIYI BUSARI AKANO AHMED ZUBAIR SUMAYYAH AHMED INUWA ZUBAIR KAM IND VITAFOAM NIGERIA PLC
5,000.00 4,890.07 4,000.00 4,000.00 25,000.00 50,000.00
BTA BTA BTA BTA INDUSTRIAL FURNACE MACHINERY POLYMETRIC POLYOL
360.00 360.00 360.00 360.00 306.50 327.50
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
93 94 95 96 97 98
ENYINNAYA CHUKEUDEBELU I. NNADIRINWA EMILIA ADAKU ILOME DUKE DANIEL SHAHADA ABUBAKAR MUHAMMAD OGUNNEYE OLADIMEJI MOSHOOD NZEH AMASIKE DONALD
3,000.00 2,850.00 2,500.00 2,500.00 2,500.00 2,500.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
172 173 174 175 176 177
SULE ILESANMI SALMAN DE-UNITED FOODS IND JUDDY BOLEMA IND. SAMKING CHEMICALS NIG LTD FREISLANDCAMPINA WAMCO NIG PLC FAREAST MERCANTILE
20 21 22 23 24 25
VITAFOAM NIGERIA PLC FALEKE JAMES ABIODUN ISOKARIARI VICTORIA AWOTUNDE OLAJUMOKE OBIEZE BONIFACE OHAEGBULAM C SAMUEL
58,800.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
POLYMETRIC POLYOL PTA PTA PTA PTA PTA
308.99 360.00 360.00 360.00 360.00 360.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
99 100 101 102 103 104
BROWN WILLIAM NENGI OLATUNJI LOLA OLAYINKA EZEKUDE GONIYI-AFOLABI BLESSING N. I. WAZIRI FATIMA MATAWAL SLIM DANLADI OGBEBULU EHINOMEN MAGDALENE
2,500.00 2,500.00 2,500.00 2,500.00 2,002.65 2,000.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
178 179 180 181 182 183
SUMO STEELS LTD CHEMSTAR PAINTS IND. NIG LTD ISPAT STEEL AFRICAN WIRE & ALLIED INDUSTIES AFRICAN WIRE & ALLIED INDUSTIES AFRICAN WIRE & ALLIED INDUSTIES
26 27 28 29 30 31
OKONKWO DANIEL SOMTO AKINTOLA DORCAS YETUNDE ELEKWACHI FELIX CHUKWUKEREM ALIYU GAMBO DAUDAWA FATOKI OSULALE OLATOYE APAMPA OLUWASEUN OLARONKE
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
105 106 107 108 109 110
IGBOKEI OLUWABANKE STEPHANIE IROKWE OKECHUKWU J. SIWOBI DONALD CHUKWU IBIRONKE R ISHABIYI GODWIN C NWOBODO IBRAHIM HANTSI
2,000.00 2,000.00 13,324.76 6,674.50 3,631.50 3,610.00
PTA PTA SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES
360.00 360.00 360.00 360.00 360.00 360.00
22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
184 185 186 187 188 189
32 33 34 35 36 37
ONYENDILEFU GABRIEL C. DAVID OKWUDIRI PRINCE MUHAMMAD BELLO ALHAJI AKPABIO NKEMDILIM THEODORA ALABI LATIFAT ADERAYO OBELE CHIZOBA MAY
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
111 112 113 114 115 116
LETICIA BEREDUGO DOYE N EWHERIDO CHIGBO R CHIKELU DOSUNMU OPEOLUWA AZEEZ GARBA BABAJI JAJA VIVIAN,
3,560.00 3,107.33 2,950.00 2,435.86 2,135.84 2,100.00
SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES
360.00 360.00 360.00 360.00 360.00 360.00
22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
38 39 40 41 42
CHINWE LUCY MARCHIE OKWUWOLU BEN WOLU SHODEINDE HAIRAT ADUFE EGBADON MICHAEL AKHIMIE UVIEGHARA PASY
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
43
ANYANWU PEACE UDOKAKU
CBN CBN FADESIRE JENNIFER OKIEMUA DYKOM INTERGRATED SERVICE LTD AKANDE IDOWU OLUWATOYIN OKHANI CHRISTOPHER OSIVUE
UNUTILIZED IMTO TRANSFERRED TO CBN UNUTILIZED IMTO TRANSFERRED TO CBN BTA BTA PTA PTA
357.00 357.00 360.00 360.00 360.00 360.00
44 45 46 47 48 49
ABBA JIDDA TIJJANI OSA D EGONWA TELLA ISHOLA ADEGBOYEGA MUHAMMED ALMUSTAPHA CBN CBN
50 51 52 53 54 55
OYEBODE JOSHUA OYENIYI KOLAWOLE HEZEKIAH ADELAJA YETUNDE OYINLOLA LAWAL ABIODUN KAFILAT OKWUOZA TITUS CHIDERA SALAAM FOLASAYO NAJEEM
56 57 58 59 60 61
RATE DATE 360.00 23-Nov-17
SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES
360.00 360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
SCHOOL FEES UNUTILIZED IMTO TRANSFERRED TO CBN UNUTILIZED IMTO TRANSFERRED TO CBN AMORPHOUS PET CHIPS BOEING 737-300 BEARING MSN 27910 BTA
360.00 357.00 357.00 315.00 337.50 360.00
23-Nov-17 23-Nov-17 23-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
BTA COOL WATER SLURRY CHEMICAL AGENTIA DIOCTYL PHTHALATE (DOP) (200 KG/DRUMS) ESSENTIAL INDUSTRIAL RAW MATERIALS EVAPORATED FULL CREAM MILK GREEN FLAG MILK POWDER
360.00 337.50 305.85 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
8,102.50 311.36 729.86 1,771.26 1,169.71 1,002.61
HOT ROLLED STEEL SHEETS IN COILS HYDROXY ETHYL CELLULOSE INDUSTRIAL MATERIAL INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL
337.50 337.50 337.50 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
AFRICAN WRIE CROWN FLOUR MILLS FINE CHEMICAL ISPAT STEEL NIGERIA LTD PURECHEM MANUFACTURING LTD PURECHEM MANUFACTURING LTD
515.27 1,236.14 1,221.33 750.00 1,545.54 1,372.68
INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIAL
337.50 337.50 337.50 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
190 191 192 193 194 195
PURECHEM MANUFACTURING LTD UNILEVER NIG PLC STK INDUSTRIES DE UNITED FOODS INDUSTRIES LTD AIR WAVE LTD AIR WAVE LTD
468.26 4,321.34 705.82 392.82 3,637.09 1,580.99
INDUSTRIAL RAW MATERIAL INEDIBLE TALLOW INSTANT DRY YEAST INSTANT NOODLES LLDPE LLDPE
337.50 315.00 337.50 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
22-Nov-17 22-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
196 197 198 199 200
EDO CEMENT COY LTD INTERNATIONAL BREWERIES PLC AFRICAN COMMODITIES DMCC AFRICAN COMMODITIES DMCC JAIN FARM FRESH FOODS LTD
MACHINERY AND EQUIPMENT MALT MANUFACTURING MANUFACTURING MANUFACTURING
337.50 337.50 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
5,000.00 1,275.00 40,158.00 685.75 3,375.44 2,318.18
35,622.15 633.74 465.03 738.29 3,149.87
360.00 20-Nov-17
117 118 119 120 121 122
201
PROMASIDOR
2,497.30 MULTI-PLY BAGS COWBELL INSTANT MILK
337.50 24-Nov-17
PTA SCHOOL FEES SCHOOL FEES SCHOOL FEES UNUTILIZED IMTO TRANSFERRED TO CBN UNUTILIZED IMTO TRANSFERRED TO CBN
360.00 360.00 360.00 360.00 357.00 357.00
20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17
123 124 125 126 127 128
CHUKWUNEKE FELIZ NZUBE KAYODE AJARA BOSE OJEAMIRAN AUGUSTINE EZE CHRISTOPHER NDUBISI MATAWAL SLIM DANLADI UKA CHARLES IHEANYICHUKWU
2,000.00 2,000.00 2,000.00 2,000.00 1,908.32 1,700.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
202 203 204 205 206 207
MEVOK INVESTMENTS LTD UNILEVER GLAXOSMITHKLINE CONSUMER PLC SAGAR OVERSEAS LTD SAMKING CHEMICALS NIG LTD SAMKING CHEMICALS NIG LTD
254.92 672.50 424.44 8,136.03 509.95 949.88
NEW AUTO SPARE PARTS PACKAGING MATERIALS PEPPERMINT OIL NATURAL PHARMACEUTICAL RAW MATERIAL PLASTER OF PARIS PLASTER OF PARIS
337.50 337.50 337.50 199.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
BTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17
129 130 131 132 133 134
ADEBAJO ADEYEMI KAZEEM OSHODI OLUYEMISI OLUFEMI OGBONNA PROMISE NWASINI UMEBESE CAROLINE EMOSIOKE EMEAKAROHA EZE JUDE AGANABA PHILOMINA
1,550.50 1,500.00 1,500.00 1,500.00 1,472.00 1,450.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
208 209 210 211 212 213
UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC
275.00 385.00 450.00 336.82 275.00 275.00
POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500
337.50 337.50 337.50 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
FAMUYIWA BOLARINWA ABIFARIN OMOKOLADE O OGBAJI NKIRU AUGUSTA ORICHA JOHN FEMI KAREEM FALILAT IYABODE UMA OBINNA
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17
135 136 137 138 139 140
AKINWALE TOLUWALOPE ADEYINKA EDAFE FOLUKE TITILOPE IKARA COLLINS ONYI OJUKWU JOY NKOLIKA ADEYEMO OYEWADE ABOSEDE EJOH HENRY ANELE
1,400.00 1,335.14 1,334.89 1,300.00 1,300.00 1,250.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
214 215 216 217 218 219
UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC UNILEVER NIGERIA PLC JUDDY BOLEMA IND. JUDDY BOLEMA IND.
275.00 275.00 275.00 296.58 81,600.00 98,500.00
POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYETHYLENE GLYCOL 1500 POLYPROPYLENE/POLYETHYLENE MATERIAL POLYPROPYLENE/POLYETHYLENE MATERIAL
337.50 337.50 337.50 337.50 305.85 305.85
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
62 63 64 65 66 67 68
OBINNA-UMA ADA EZINNE IQUAIBOM LAWRENCE NDUMECHI NKEM JOHNSON CHARLES-GRANVILLE BOMA ONYEGUKE BLESSING NGOZI BABALOLA BUNMI CHRISTIANA INUWA MOHAMMED HAFIZ
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
PTA PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00 360.00
21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17
141 142 143 144 145 146 147
OBASUYI IFEOMA CHRISTIANA ADEWOLE TAIBAT ADEJUWON DEBAYO DOHERTY DIPO WALE OWOLABI FRIDAY KAYODE AKINSULIE OLUMIDE BOLA WATEGIRE JUSTINA MUSA KANDE SHEBA
1,200.00 1,200.00 1,200.00 1,000.00 1,000.00 1,000.00 1,000.00
PTA PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
220 221 222 223 224 225 226
AFRICAN COMMODITIES DMCC TESKA C. MERCHANDISE NEW HOME PRODUCTS AMUDAT I ANOBA UMARUN KWABO OLAOLUWAKITAN MICHAEL ANAMEKWE CHUKWUNYERE N
49.22 250.00 659.74 13,694.52 10,184.91 5,969.02 5,340.40
RAW MATERIAL FOR IND USE RTV SILICONE GASKET MARKER SCANFROST BRAND FREEZERS SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES
337.50 337.50 337.50 360.00 360.00 360.00 360.00
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
69 70 71 72 73 74
KASI-OKONYE IGUEHI JESSICA IBEKWE COLLINS FRANK YUNUSA SHAMSUDDEEN WAKILI OTUBO JOSHUA CHIWETALU UKAGWU TONY CURTIS UCHENDU ILOBEKEMEN OGUNMWONYI
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17
148 149 150 151 152 153
MOHAMMED BASHIRU MOTUNRAYO IZEGAEGBE OMOZEHIO JOYCE ULOKO DANIEL SUNDAY ABUMERE OMOBOLADE GLORIA OGUNNEYE OLADIMEJI MOSHOOD OGUNSIMIRIN SURAT TEMITOPE
850.00 800.00 600.00 574.52 534.04 420.00
PTA PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
227 228 229 230 231 232
DE UNITED FOODS IND LTD UNILEVER NIG PLC UNILEVER NIG PLC BODE FORMS INDUSTRIES LTD MTN NIG COMM.LTD WAHUM PACKAGING
189.38 4,005.85 1,347.43 540.53 3,945.99 1,466.89
SELF ADHESIVE TAPE SODIUM SULPHATE SODIUM SULPHATE TD 80/20 IN 250 KG DRUM TELECOMMUNICATIONS EQUIPMENT WHITE TOP KRAFTLINER
337.50 315.00 315.00 337.50 337.50 337.50
24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
75 76 77 78 79
EMOJEVWE P OGHENEVBARE BEPACA INVESTMENT LTD AYODELE ISMAIL AZUNNA IKONNE CHIDIEBUBE CBN
PTA SCHOOL FEES SCHOOL FEES SCHOOL FEES UNUTILIZED IMTO TRANSFERRED TO CBN
360.00 360.00 360.00 360.00 357.00
21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17
154 155 156 157 158
ARINZE EMETE EVELYN KADIRI JOSEPH OKOIYE BAKWO IKANI ABDULLAHI BAKWO IKANI ABDULLAHI AGANABA PHILOMINA
400.53 280.00 277.00 273.90 132.40
PTA PTA PTA PTA PTA
360.00 360.00 360.00 360.00 360.00
23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17
4,000.00 PTA 4,000.00 7,042.50 5,000.00 4,928.79 270,656.94 272,024.83
4,000.00 15,000.00 14,032.99 5,821.47 289,816.75
365,349.75 444,124.06 1,700.00 1,200.00 2,000.00 2,000.00
AMOUNT (US$) PURPOSE 100.00 PTA
SOURCES OF FOREIGN EXCHANGE AT 24TH OF NOVEMBER 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64
www.ubagroup.com
SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN CBN AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS YOKOGAWA NIG AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
AMOUNT (US$) 3,035.00 100.62 575.00 122.02 402.48 1,131.22 216.74 1,000.00 10,000.00 100,000.00 171,974.52 267,524.10 3,132.84 269,222.12 2,802.71 605.54 130.62 545.29 232.04 69.61 34.81 150.83 348.06 150.83 1,651,971.20 163,012.00 3,000,000.00 2,000,000.00 57.35 1,180.00 409.42 1,379.68 434.00 841.57 19,970.00 80,095.54 286,456.71 3,360.04 328,373.65 3,506.56 58.01 338.08 145.73 55.96 219.75 34.97 640.02 17,413.38 295,700.00 999,965.00 1,000,000.00 70,800.00 200,000.00 650.00 262.08 1,490.00 154.33 490.00 570.00 110.00 127.91 127.91 283.61 317.71
RATE 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.00 315.00 314.00 355.00 355.00 355.00 354.65 310.00 314.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 360.00 359.00 357.00 357.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 355.00 355.00 355.00 354.65 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 360.00 360.00 359.00 360.00 359.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00
DATE 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 20-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 21-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17
S/N 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128
SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
AMOUNT (US$) 80.00 90.00 1,985.00 300.00 900.00 1,830.00 19.91 5,000.00 361,104.33 4,245.42 439,160.35 4,963.71 262.70 108.54 348.27 406.32 189,000.00 19,800.00 650,000.00 12.50 100.00 2,502.20 121.56 104.89 260.60 210.00 200.00 32.05 100.00 1,400.00 275.00 250.00 172.20 160.00 490.00 65.00 770.00 190.00 20,000.00 40,000.00 226,842.60 2,789.33 269,952.33 3,186.40 90.85 266.70 46.46 104.54 174.24 335.12 520.92 464.64 232.32 110,000.00 999,965.00 2,000,000.00 130,000.00 315,000.00 5.79 110.14 134.16 463.76 110.98 205.35
RATE 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 355.00 355.00 355.00 354.62 314.00 314.00 314.00 314.00 360.00 358.00 360.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 355.00 355.00 355.00 354.70 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 360.00 360.00 360.00 359.00 305.60 314.00 314.00 314.00 314.00 314.00 314.00
DATE 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 22-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 23-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
S/N 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161
SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
AMOUNT (US$) 1,478.50 400.00 5,000.00 97.85 140.00 296.00 375.00 55.90 134.00 137.89 449.45 152.13 115.74 388.49 131.53 153.23 106.10 141.55 108.96 202.97 144.61 622.40 266.02 1,331.50 820.35 4,970.00 3,790.00 2,700,000.00 116.98 107.60 58.49 924.14 17,000.00
RATE 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 340.00 314.00 314.00 314.00 314.00 358.00
DATE 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17 24-Nov-17
Africa’s global bank
35
TUESDAY, NOVEMBER 28, 2017 ˾ T H I S D AY
INTERNATIONAL
email:foreigndesk@thisdaylive.com
Sinai Attack: Egyptian Ambassador Assures of Victory over Terrorism Urges Nigeria to stand up with Egypt against the vice Alex Enumah in Abuja The Ambassador of the Arab Republic of Egypt to Nigeria, Assem Mohammed Hanafi,
has assured that his country and Nigeria will ultimately prevail over terrorism, even as he urged Nigeria to rise up in the war against the deadly scourge.
Prince Harry to Marry Meghan Markle Next Year Britain’s Prince Harry is to marry his US actress girlfriend Meghan Markle early next year it was announced Monday, with the Queen leading a chorus of approval and best wishes for the couple who got engaged in secret earlier this month, according to AFP. Royal officials ended fevered speculation about the 33-year-old prince, once the bad boy of the House of Windsor but now seen as one of its biggest assets. “His Royal Highness The Prince of Wales is delighted to announce the engagement of Prince Harry to Ms Meghan Markle. The wedding will take place in Spring 2018,”Clarence House, Prince Charles’s office, said a statement. The couple’s engagement was sealed in London and the prince then informed his
grandmother Queen Elizabeth II, close members of the royal family and had also sought the blessing of Markle’s parents. “The Queen and The Duke of Edinburgh are delighted for the couple and wish them every happiness,”said a message on the monarch’s official Twitter page. The couple will live at Nottingham Cottage in London’s Kensington Palace, where his brother William and his pregnant wife Kate live with their two children. Harry’s 36-year-old bride-to-be is best known for her role as a lawyer in the hit television show “Suits”. Reports that Markle, who is expected to become a duchess, was moving her two dogs – Guy and Bogart – to London further fuelled rumours of the first royal wedding since William and Kate in 2011.
The ambassador gave the assurance in a series of tweets at the weekend following the coordinated terror attacks that killed 305 persons and left many others injured. The attack which occurred in Rawdah mosque in Bir al-Abed, west of El Arish, the main city in North Sinai on Friday, is said to be the deadliest terror attack in Egypt in recent times. Hanafi compared the Sinai attack to the 2014 attack in Kano State, in which terrorists exploded bomb in a mosque and
shot those trying to escape from the blast and the recent attack in Mubi, Adamawa state northeast Nigeria, which collectively killed over 500 Nigerians. “Egypt and Nigeria will stand together against the evil acts of terrorism and we shall ultimately prevail,”Hanafi said, adding that both countries must stand in solidarity. Nigeria’s President Muhammadu Buhari, in a condolence message to the government and people of Egypt over the heartless attacks on the Sinai
mosque condemned the dastardly act on innocent worshippers. He reiterated his call for a global collaboration which includes intelligence sharing as panacea to such mindless and irresponsible attacks on innocent citizens. Egyptian state media had reported the killing of more than 305 people at a mosque in North Sinai by terrorists who detonated a bomb and gunned down worshippers as they tried to escape from the blast.
Worshippers were finishing Friday prayers at the mosque when a bomb exploded, witnesses said. Around 40 terrorists set up positions outside the mosque with jeeps and opened fire from different directions as people tried to escape, the report said. Though no group immediately claimed responsibility, however, the attacks were suspected to have been carried out by the Islamic State and their affiliates in the region.
Pakistan Minister Resigns as Officials Bow to Islamists’ Demands Pakistan’s law minister resigned Monday after the embattled government bowed to demands from a small Islamist group, striking a deal with the help of the military to end a weeks-long anti-blasphemy protest, according to AFP. At the site of the sit-in which had blocked a major road into Islamabad, demonstrators were slowly packing up tents and walking to bus stops as shops and markets reopened
for the first time since the protest began. Khadim Hussain Rizvi and his supporters from the once-obscure Tehreeki-Labaik Ya Rasool Allah Pakistan (TLY) group had paralysed the capital since November 6 with just 2,000 demonstrators, enraging millions of commuters and the judiciary who blasted the government for hesitating to act against them. Analysts said the capitulation to him and his
supporters was an unsettling sign of the influence even marginal religious groups wield in Pakistan and an embarrassment for the government before elections due in 2018. The demonstrators demanded the resignation of law minister Zahid Hamid over a hastily-abandoned amendment to the wording of an oath which election candidates must swear. The change was small and quickly reversed, but the
TLY linked it to blasphemy, a hugely charged issue in the conservative Muslim country. The ruling Pakistan Muslim League-Nawaz (PML-N) remained silent Monday, with no official comment on the report by state media that Hamid had resigned. But a triumphant Rizvi called off the sit-in in a statement to supporters, saying the army had guaranteed their demands would be met and thanking the powerful military chief for “playing his role.
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T H I S D AY TUESDAY NOVEMBER 28, 2017
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NEWS
Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081
Financial Clout of States Should Determine Next Minimum Wage, Says Buhari Jokingly expresses regret over Atiku’s departure from APC Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË President Muhammadu Buhari has said the new minimum wage for workers in the country must take into consideration the ability of each tier of government to pay its workers. The president, who made this remark yesterday at the State House, Abuja, while inaugurating a 30-man National Minimum Wage Committee saddled with the responsibility to come up with a new minimum wage for Nigerian workers, was also swift to add that the government has a responsibility to ensure that Nigerian workers live above discomfort and enjoy improved living standards. Membership of the committee was drawn from both the federal and state governments, employers’ association and the organised private sector. Buhari who described the Nigerian worker as a vital element in the growth and development of modern nations recalled how a technical committee had earlier been set up following the increase in pump price of petrol in May 2016, to come up with recommendations aimed at cushioning the effects of the fuel price hike on both workers and the citizenry. Describing the committee
chaired by a former Housing Minister, Ama Pepple as all encompassing, Buhari tasked the committee to thoroughly discharge their responsibility with a view to ensuring that the welfare of workers and Nigerians at large is well addressed. He said government decision after the committee submits its report would be transformed into an executive bill that would be sent to the National Assembly with a view to giving it a legal backing. “Considering the scope of the membership of this new National Minimum Wage Committee, we can see that it is encompassing all stakeholders. My hope is that the outcome of the deliberations of the committee would be consensual and generally acceptable. I therefore urge you to amicably consider the issue of a National Minimum Wage and all matters that are ancillary to it with thoroughness and concern not only for the welfare of our work-force but the effect on the country’s economy. “The subject of a National Minimum Wage for the federation is within the Exclusive Legislative List of the 1999 Constitution of the Federal Republic of Nigeria (as amended). Accordingly, we should aim to go above the basic Social Protection Floor for all
Nigerian workers based on the ability of each tier of government to pay. “I say this because minimum wage is the minimum amount of compensation an employee must receive for putting in his or her labour and as such should be anchored on social justice and equity. “Government’s decision
after considering your final recommendation will be sent as an Executive Bill to the National Assembly for it to undergo appropriate legislative scrutiny before passage into law,� he said. He said drawing some members of the committee from state governments and private sector employers would ensure ease of implementation of the
expected minimum wage as he expressed hope that “the principles of full consultation with social partners and their direct participation would be utilised by the committee,� in accordance with core provisions of the International Labour Organisation Minimum Wage Fixing Convention No. 131 and Minimum Wage Fixing
Machinery Convention No.26 (ratified by Nigeria). “Accordingly, conditions of genuine social dialogue should prevail in the spirit of tripartism and collective bargaining agreements . I therefore enjoin you all to collectively bargain in good faith, have mutual
Cont’d on Pg 43
NEW LISTING ON NIGERIAN BOURSE‌ L-R: CEO, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; Chairman, Global Spectrum Energy Services Plc, Mr. Godwin Omene; and CEO, Global Spectrum, Mr. Colm Doyle, during the Facts Behind the Listing of Global Spectrum Energy Services on the Nigerian bourse, held in Lagos‌ yesterday ƟƽDŽNJƿÇ?lj ƟDžƟLJƟ
Ogbeh: Rice Importation from Thailand Has Dropped Oyo Court Sentences Yewande, Husband Killer to to 20,000 MT Olawale Ajimotokan Ă“Ă˜ ĂŒĂ&#x;ÔË Nigeria has drastically cut the volume of its rice shipments from Thailand to 20,000 metric tonnes from 644,000 mt it was importing by September 2015, the Minister of Agriculture, Chief Audu Ogbeh, said. He made this disclosure at the weekend when he received the Comptroller General of Nigerian Customs Services (NCS), Col Hammed Ali (rtd), and a team of senior officers of the customs command. Thailand used to be one of the three major exporters of parboiled rice to Nigeria until a policy by government banned the export in 2015, to stimulate local production of the food staple. The minister said the figures were released by Thai Rice Exporters Association, which complained that customs curbs in smuggling had led to reduction in rice importation. He also said some Thai investors had indicated interest in establishing rice milling plants in Nigeria. The step is one of the ways to end Nigeria’s dependence on imported rice and ensure selfsufficiency in rice production by next year. The Minister of Information, Alhaji Lai Mohammed, at another forum said Nigeria is inching towards achieving its 7 million target in rice production by 2018. Mohammed said attaining
that target would leave the country with a surplus of 700,000 metric tonnes as the current local demand for rice is 6.3 million metric tonnes. He premised his optimism on the inauguration of two private owned rice mills in the country this year. The mills include the WACOT Mill in Argungu, Kebbi State, with an installed capacity to process 120,000 metric tonnes of parboiled rice annually, and the integrated Dangote Rice Mill, projected to produce 1,000,000 metric tonnes per annum. “Today, in continuation of these efforts, we are happy to tell Nigerians of a giant stride made by the administration in the agriculture sector, specifically rice production: Nigeria is inching closer to achieving self-sufficiency in rice, due to the success recorded by the administration in the local production of rice. There is more good news to report,� Mohammed said. The minister attributed the improvement in rice production across the country to government’s Anchor Borrowers’ Programme initiated by President Muhammadu Buhari, which supports farmers through inputs distribution and loans to boost rice production. Presently there are 12.2 million nigerians cultivating rice according to the Rice Farmers Association of Nigeria (RIFAN).
Seven Years Imprisonment Ademola Babalola Ă“Ă˜ ĂŒĂ‹ĂŽĂ‹Ă˜ The Chief Judge of Oyo State, Muntar Abimbola, yesterday sentenced Yewande Oyediran to seven years imprisonment for killing of her husband, Lowo Oyediran 21 months ago in Ibadan. Justice Abimbola, the presiding judge of the state High Court 1 Ibadan found Yewande culpable of the death of her husband, with the caveat that the term of imprisonment should cover the day of her arrest February last year. Yewande was alleged to have stabbed Lowo on February 2, 2016, at their number 30, Adeniyi Layout, Abidi-odan, Akobo, Ibadan residence, following a misunderstanding that broke out late in the night. The court held that although, evidences showed that she was responsible for the death of her husband, none of the witnesses was able to establish the intent of the accused or described seeing her commit the crime. The court however noted that the killing was done without intent going by the fact that the couple were married at the time of the incident. Yewande was arraigned on a lone count charge of allegedly killing her husband with knife. The offence was said to be contrary to Section 316 and
punishable under section 319 of the laws of Oyo State. The accused however pleaded not guilty to the charge when the charge was read to her in court. The chief justice who earlier apologised to the court for deferring the judgment initially slated for Friday, said other official engagement at the National Judicial Council (NJC) necessitated the postponement of the judgment till yesterday. Abimbola held that the incident was a fall out of a spontaneous fight between the couple, adding that none of the witnesses was able to establish the case of intent in the incident that led to the injury that caused the death. Justifying the reason for the sentence, the judge maintained that there was no need for a second attack on the deceased as given by the oral evidences of the witnesses. According to the judge, the witnesses had told the court that there had been an initial attack where Yewande was said to have stabbed the late husband with scissors but that the matter was settled before the one that led to the death of the deceased hours later. Making further clarification, Justice Abimbola described the killing as spontaneous and held that it was a fallout of marital fight and misunderstanding between the couple.
According to the court, the killing was not premeditated and there was no intention by Yewande to kill Lowo, which made the case a manslaughter and not murder, which could have attracted death penalty. After the court had established a case of manslaughter against Yewande and found her guilty of same, the lead defence counsel, Mr. Leye Adepoju, pleaded the court for leniency noting that a long sentence could further damage and ruin the person of the accused. He also appealed to the court to consider the option of sending the accused to a correctional facility where she could be reformed and made better instead of a prison where she could suffer more damage and ruin. Speaking on the judgment after the court session, the counsel to the defendant, Adepoju said the defence team would obtain and study the judgment and thereafter decide whether to proceed to the Court of Appeal or not, but added that in the first instance the defence team had been able to change the murder charge to manslaughter. The private prosecutor engaged by the state Ministry of Justice to prosecute the case, Mr. Akinyele Sanyaolu, while commending the judgment expressed satisfaction, just as he described it as well researched judgment.
He however added that he would report what happened in the court to the Attorney General and Commissioner for Justice of Oyo State for further directives on the matter. Sanyaolu said: “I am satisfied with the judgment but I don’t know whether the state will be happy or not. I will write my report back to the Oyo State Government through the Attorney General and Commissioner of Justice to look into it. “The court has really done a very great job. The issue was that the court was able to establish between murder and manslaughter when it comes to matrimonial matters and that is why it came to the issue of intention which was why the court didn’t sentence the accused to death because they were married and the law presumed that she doesn’t have the intention to kill her husband but if it were to be a third party, such a person is going to the gallow. “That was the reason the court had to substitute it with manslaughter.� He also called in the National Assembly and government at the Federal and State levels to consider the option of establishing correctional facilities where people who commit such crimes could be sentenced owing to the increasing reported cases of women killing their husbands in recent time.
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South-south, South-east Governors Ask FG to Increase Allocations to Their States Want federal roads relinquished
Tobi Soniyi ÓØ ËÑÙÝ State Governors in the South-south and South-east geo-political zones have called on the federal government to increase allocations to states in the two zones. A statement by the Akwa Ibom State Commissioner for Information, Mr. Charles Udoh, said this was one of decisions reached by the governors at the end of the year meeting presided over by Akwa Ibom State Governor, Mr. Udom Emmanuel, held at the Government House, Uyo. A communiqué issued at the end of the meeting said improved revenue allocation to states in the zone should reflect the current realities in the prices of crude oil in the international market so as to make the states viable and respond to the expectations of the people. The governors expressed concern at the deplorable state of roads in the two zones and asked the federal government to give the areas more attention in infrastructural development. They consequently made a case for the federal government
to relinquish all federal roads to states where such roads are located and facilitate concession of the road with adequate legislation. In the interim, the governors appealed to the federal government to take steps towards ameliorating the suffering of the people through intervention in the refurbishment of critical infrastructure located in the zones. They listed such amenities to include the Port Harcourt International Airport; Margret Ekpo International Airport, Calabar; Akanu Ibiam International Airport, Enugu; Sam Mbakwe International Airport, Owerri as well as dilapidated roads in the zones. The governors reiterated their earlier resolution to continue to advance issues that would be politically and economically beneficial to the two zones. They regretted the shoddy approach to development of infrastructure undertaken by intervention agencies operating in the region requested the federal government to appeal to the agencies to liaise with the respective states government
for identification and execution of projects. The meeting had in attendance Rochas Okorocha
of Imo State, Nyesom Wike of Rivers State, Seriake Dickson of Bayelsa State, Ifeanyi Okowa of Delta State,
Ifeanyi Ugwuanyi of Enugu State and Okezie Ikpeazu of Abia State. Professor Ivara Esu and Dr Nkem Okeke deputy
governors of Cross River and Anambra States respectively represented their governors.
REMEMBERING BABA OLOYE
Senate President, Dr. Abubakar Bukola Saraki (middle), flanked by former Senate President, Dr. Joseph Wayas (left); and Deputy Senate President, Senator Ike Ekweremadu, during the fifth anniversary lecture in honour of the late Dr. Abubakar Olusola Saraki, organised by the Northern Union (NU) in Abuja...yesterday.
Buhari Leaves for EU-AU Dep Gov: CBN to Mitigate FX Risks Through Sustained Summit in Abidjan Today Accretion to Foreign Reserves Omololu Ogunmade ÓØ ÌßÔË President Muhammadu Buhari will this evening leave Nigeria for Abidjan, Cote d’voire, to participate in the 5th European Union-African Union (EU-AU) Summit holding today and tomorrow. A statement by the president’s media adviser, Mr. Femi Adesina, said the president would participate in working sessions on the theme: ‘Investing in the Youth for a Sustainable Development.’ The statement added that on the margins of the summit, he will also meet with a number of African Heads of State and their European Union counterparts. It also said Buhari would during the summit, reiterate
Nigeria’s readiness to work with African and European countries to address the challenges of both continents, such as peace and security. “The Nigerian leader will attend the official luncheon to be hosted by the government of Cote d’Ivoire in honour of visiting Heads of State and Government delegations. It said Heads of State of African countries and 28 European countries are slated to attend this high-level meeting. The statement also said delegations from international organisations will also participate at the summit. The governors of Akwa Ibom and Bauchi States and some ministers are among the officials that will accompany the president to the summit.
I was Never Indicted for Subsidy Fraud, Says Okafor The Chairman of Chikason Group of Companies, Dr. Alex Chika Okafor, has said he was never indicted for subsidy fraud during the administration of former President Goodluck Jonathan. In a letter addressed to THISDAY by his lawyers, Adroit Lex & Co, and signed by Chief Chibuzo Ziggy-Azike, the law firm described as false, a report that Okafor was named in 2011 by the Senate as one of the beneficiaries of the subsidy fraud for allegedly pocketing N18 billion.
The letter noted that Okafor is an honest man, God-fearing and devout Christian who has received national honours from the President of Nigeria on two occasions. According to the letter, Okafor and his company have also received hundreds of awards for integrity and distinction, adding that Chikason Group is known for corporate integrity. The solicitors to Chikason Group faulted the said publication, saying it caused his client embarrassment.
James Emejo ÓØ ÌßÔË
to reduce our expenditure on foreign exchange on production The Central Bank of Nigeria by another country where they (CBN) yesterday reeled out create their own employment. measures taken to mitigate “If we do it here, we are foreign exchange risks going going to create employment and forward through continuous people’s income will increase, accretion to the foreign reserves tax revenue will increase and to a comfortable level that wins poverty will reduce. confidence of foreign investors. “And we have seen impact of CBN Deputy Governor, this going by available statistics Operations, Mr. Adebayo to the CBN.” Adekola Adelabu, also said Also, yesterday, the federal import substitution and export government disclosed that it promotion were part of the apex plans to privatise some national bank’s cardinal policies targeted assets to fund the 2018 budget. at mitigating forex risks in the He noted that the CBN could long run. actually afford to make a small Speaking when he shift in the current exchange rate appeared before the House of to achieve rate harmonisation. Representatives Joint Committees The Director General, Budget on Finance, Appropriation, Aids, Office of the Federation, Mr. Loans and Debts Management, Ben Akabueze, told the joint chaired by Hon. Babangida committees that some National Ibrahim (APC, Katsina) on Independent Power Projects the stakeholders’ engagement (NIPP) including assets in mines meeting on the 2018 Medium and steels sectors and non-core Term Expenditure Framework assets, as well as houses, national (MTEF), Adelabu further hinted parks, the Tafawa Balewa Square on the feasibility of a more (TBS) and the National Arts harmonised exchange rate Theatre will all be put on the system. sale block in an attempt to raise He further defended the CBN revenue to fund the budget. policy on the restriction of the He said the target of GDP famous 41 items from accessing growth rate of 3.5 percent In the forex, adding that the policy has MTEF was not only achievable yielded positive results. but desirable. The CBN deputy governor Akabueze said the economy said: “But there are three areas needed to grow at 6 percent which we are looking at to before people start to feel the mitigate exchange rate risks impact of growth. going forward. He added though that it “One is the import substitution would require hard work from which the customs said they’ve both the executive and legislature seen drop in revenue on to achieve the desired results. imported items. The director noted that the “That’s why we have the country is not generating the 41 items under restriction. kind of revenue needed to help We want to encourage local debt service reduce as expected. manufactures and inventors Nevertheless, the CBN to produce these things locally deputy governor said the bank
is working towards a comfortable level in the reserves to “make foreign investors believe that if they bring any amount of dollar to the economy either by way of foreign portfolio investment or foreign direct investment; any time they are ready to tale their money back, they are sure we can afford the money- and we’ve seen the growth in our reserves and once we are at comfortable level, I believe that volatility and vulnerability that we are experiencing recently will disappear and we will see a lot of appreciation.” Asked whether the CBN could afford a shift towards a more harmonised regime, he said: “We can actually afford it and we’ve been reflecting this in the series of activities by the CBN. “The official rate of N305 has been the guidance rate and majority of the allocations done by the CBN to the private sector to address the critical sector needs have been at higher rates because they submit their bids during the auction and we’ve seen, N325 and N330 and all that and these are even forward rate... “So, if you look at the spot market, which is the market that determines the rates, it’s trading at N360- for those that need the dollar urgently. If you do a simple calculation, you’ll see that it’s the cost of funds they’re incurring. “So, we are actually trying to achieve the harmonisation and the gap in terms of the exchange gain we are making on this is being passed on to the federation account for the three tiers of government to share. And I believe with time, we are going to achieve better rates harmonisation.”
Also asked to clarify some of CBN intervention programmes particularly as it affects disbursements to state governments as bail out, Adelabu said: “But if you talk of interventions in states bail out, I want to put it on record that CBN does not disburse funds to bail out states. “The bail out has been by the federal government. The other one which is special budget support has been long term loans granted to eight states by commercial banks which is guaranteed by the federal government. “By the 2007 Act of the CBN, we are not allowed to loan money to sub national governments- so we don’t give out money to states.” Also, Minister of State for Budget and National Planning, Mrs. Zainab Ahmad Expressed concerned over the revenue performance of Government Owned Enterprises (GOEs) which was put at only about 20 percent in 2017. She said the enterprises should be made to function properly so they could yield sufficient revenue for government. But Minister of Finance, Mrs. Kemi Adeosun, said going forward, chief executives of GOEs would be held to account for the performances of the organisation as well as sanctioned where necessary. Represented by the Permanent Secretary, Federal Ministry of Finance, Mr Mahmoud IsaDutse, Adeosun who stressed the need to broaden the tax net, said taxes on alcohol, lottery activities and tobacco would probably take effect by early 2018.
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Barkindo Seeks Long Term Stability of Oil Market Ejiofor Alike åÓÞÒ Ă‹Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂžĂ?
The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Mr. Mohammad Barkindo, has stated that the focus of discussion among the cartel’s ministers
that gathered in Vienna, Austria, yesterday was finding a way to stabilise the market over the long term. In his welcome address at the 2nd Technical Meeting of OPEC and non-OPEC Producing Countries, Barkindo stated that the cartel paid special
Prepare for Higher Electricity Tariffs, Osinbajo Tells Nigerians Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË
this. Alsi giving an overview on the progress made in Vice President Yemi Osinbajo agriculture, Nigeria’s Minister yesterday asked Nigerians to of Agriculture and Rural brace up for inevitable higher Development, Audu Ogbeh, electricity tariffs. said Nigeria’s import of rice “There is no question at has dropped by about 95 per all that we must pay higher cent from 644, 131 metric tons tariffs,� he said. in September 2015 to 20,000 Osinbajo who made this tons in September 2017. remark while addresing the According to him, there are quarterly business forum 12.2million farmers growing organised by Presidential rice in Nigeria, mainly in Enabling Business states like Kebbi, Jigawa, Environment Council Kano, Ebony and Nasarawa. (PEBEC), however, said “We should be almost increase in the tariff would certain to meet our needs not take place now. in local rice production,� the According to him, the Minister of Agriculture said. N700billion Payment Others who spoke were the Assurance Guarantee set aside Minister of Industry, Trade by government was payment and Investment, Okechukwu to ensure uninterrupted Enelamah, gave an update on payment for gas and liquidity the Export Incentive Grant; and in the power sector. the Chief Executive Officer of Osinbajo said the payment the WACOT Rice Mill in Kebbi assurance guarantee was to State, Rahul Savara. fund a smooth transition Participations from the “from where we are to a much private sector at the meeting more market-determined also raised questions and made policy for electricity.� observations on such issues as The vice president said access to credit, quality control, government was working protection of local farmers, with the World Bank on land, among others
BON Bemoans Lack of Clear Roadmap on Digital Switch Over Olawale Ajimotokan Ă“Ă˜ ĂŒĂ&#x;ÔË The Broadcasting Organisation of Nigeria (BON) has lamented the lack of a clear roadmap on Nigeria’s transition to Digital Switch Over (DSO) by the National Broadcasting Commission (NBC). The concern was conveyed by the Chairman of BON, Mr. John Momoh, at the 68th General Assembly of the BON in Abuja yesterday. Nigeria has failed to meet the June 2017 deadline to transit from analogue to digital in broadcasting. According to Momoh, apart from disruptive innovations, the industry owners are displeased the huge disparity in licence fees between public and private licensees. He also said the regulator is silent on many critical issues affecting its members, key of which what is accruable to broadcast organisations who will be vacating frequencies in accordance with the White Paper on DSO. The other issue is the fee to be paid to signal distributors after the switch over what happens
to pay-TV services currently operating on the DTT platform. He also said broadcasters were contending with dwindling advertising revenue in the face of increasing operating expenses, mounting an unresolved industry debt, and a mandatory reduction of transmitting power, while still paying the same licence fee for the original power. Momoh noted that the issues have, however, been discussed with the NBC as well as the Minister of Information and Culture, Lai Mohammed. He said disruption has suddenly engendered a  complete disturbance, disordering and disarranging of the way broadcasters conduct their business He also identified some of the digital predators to include Amazon Prime Video, Netflix, Hulu and other “over the top� players. “To say broadcasting has changed since the establishment of BON three decades ago, would be grossly understating the dynamic nature of our industry. The correct statement would be that broadcasting has changed radically, Momoh said.
attention recently to US shale oil production and other nonOPEC regions. The US government estimates that total production would be around 9.2 million barrels of oil per day for the full-year 2017 average. Â According to the estimates, production should jump to 9.8 million barrels per day by 2018, which would beat a 48-year record for the highest annual average in US history. US shale oil has remained more resilient to the weak price environment than expected, frustrating the OPEC effort to drain the surplus on the fiveyear average in global crude oil inventories through managed production declines. However, the effort to extend a deal into late 2018 may be complicated by internal divisions among major parties to the agreement. Russian energy officials had shown ambivalence earlier this month and a rivalry
between Iran and Saudi Arabia, two of the lead producers, could also complicate negotiations. Russia is less reliant on higher oil prices and has typically been keen not to concede too much market share to its rivals. And with new oil fields set to come online next year, a number of Russian firms have expressed their displeasure over a possible extension of global supply curb. Russia’s Energy Minister Alexander Novak — a key architect of the output cut deal that was extended last May — said in October that Moscow would be in favour of extending the OPEC-led production deal into late 2018 but Novak’s comments were made at a time when the oil price was drifting in the $50 to $55 range. Oil prices fell more than a dollar yesterday, with US crude easing from two-year highs on prospects of higher supply, and uncertainty about Russia’s
resolve to join in extending output cuts ahead of this week’s OPEC meeting. US light crude was down $1.21 or two per cent to $57.74 a barrel while Brent crude oil was down 51 cents or 0.8 per cent to $63.35 a barrel. Meanwhile, OPEC ministers will on Thursday decide if and how long they would extend an agreement that curbed supply of two per cent of total demand, which was implemented in January, extended once this year into March and could be drawn out for the rest of next year. “This is beyond attaining short-term market rebalancing, and calls for strengthening our cooperation through a dynamic and transparent framework for sustainable market stability in the medium- to long-term,� Barkindo said. By October, the level of crude oil inventories for the major industrialised economies was
around 140 million barrels above the five-year average, a level that’s more than 200 million barrels below the record high. Barkindo said the trend lines for all major crude oil benchmarks indicate a market that’s clearly returning to balance.  “After reaching record-high levels of more than 380 million barrels over the five-year average, OECD commercial oil inventories have steadily fallen to stand 140 million barrels above the five-year average in October. Additionally, excess crude in floating storage has been drawn down considerably, by 50 million barrels since June 2017, supported by the shift in the market structure where for the first time since the summer of 2014, all major crude oil benchmarks have flipped into backwardation, signaling clearly a market that is steadily returning to balance,� Barkindo explained.
MEETING WITH DEVELOPMENT PARTNER
L-R: World Bank Country Director, Mr . Rachid Benmessaoud; Senior Director , Energy and Extractives, Mr. Riccardo Puliti; Vice President Yemi Osinbajo; and Minister of Works, Power and Housing, Babatunde Fashola; and Minister of Finance, Kemi Adeosun, during a courtesy call by World Bank at the Presidential Villa in Abuja......yesterday Ë›
AI: Investigate Shell for Complicity in Murder, Rape and Torture in Ogoni Martins IďŹ jeh Amnesty International (AI) has called on the governments of Nigeria, United Kingdom and the Netherlands to launch criminal investigations into Shell’s role in what it described as horrific crimes committed by the Nigerian military in Ogoniland in the 1990s.  The body, in a statement signed by its Media Manager, Isa Sanusi, and made available to THISDAY, said massive cache of international documents in thousands of pages and witness statements showed Nigerian military’s criminal campaign to silence Ogoni  protest against pollution in their land. According to the Director of Global Issues, Amnesty International, Audrey Gaughran, who quoted the recent AI report, said the evidence reviewed by Amnesty International shows that Shell repeatedly encouraged the Nigerian military to deal with community protests, even
when it knew the horrors this would lead to.  “In the midst of this brutal crackdown, Shell even provided the military with material support, including transport, and in at least one instance paid a military commander notorious for human rights violations. That it has never answered for this is an outrage.  “It is indisputable that Shell played a key role in the devastating events in Ogoniland in the 1990s, but we now believe that there are grounds for a criminal investigation. Bringing the massive cache of evidence together was the first step in bringing Shell to justice. We will now be preparing a criminal file to submit to the relevant authorities, with a view for prosecution,� he added.  He explained that the Nigerian government’s campaign against the Ogoni people culminated in the execution, 22 years ago, of nine Ogoni men, including Ken Saro-
Wiwa, a writer and activist who led the protests, adding that the executions followed a blatantly unfair trial sparking global outcry.  According to him, an individual or company can be held criminally responsible for a crime if they encourage, enable, exacerbate or facilitate it, even if they were not direct actors. “For example, knowledge of the risks that corporate conduct could contribute to a crime, or a close connection to the perpetrators, could lead to criminal liability.  “Internal memos and minutes from meetings show Shell lobbying senior government officials for military support, even after the security forces had carried out mass killings of protesters. They also show that on several occasions Shell provided logistical or financial assistance to military or police personnel when it was well aware that they had been involved in murderous attacks
on defenceless villagers,� the report stated.  On specifics, Gaughran said one internal company document revealed that on March 3, 1994, Shell made a payment of more than $900 US to ISTF, a special unit created to ‘restore order’ in Ogoniland. “This was just 10 days after the unit commander ordered the shooting of unarmed protestors outside Shell’s regional headquarters in Port Harcourt. The document states that this payment was a show of gratitude and motivation for a sustained favourable disposition towards Shell in future assignments.  “Sometimes, Shell played a more direct role in the bloodshed – for example by transporting armed forces to break up protests, even when it became clear what the consequences would be. This clearly amounts to enabling or facilitating the horrific crimes that followed,� he said.
TUESDAY, NOVEMBER 28, 2017Ëž T H I S D AY
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Nigeria Needs Courageous Leadership, Says Saraki Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË The Senate President, Senator Bukola Saraki, has said what the country needs to resolve challenges of statehood afflicting it are leaders with the courage to do what is right and to stand firm on it. He said beyond the clamour for restructuring and reform of the country, there is the need to first do things that will promote unity and oneness among the people. Saraki, who spoke yesterday in Abuja at the annual lecture instituted in memory of his late father, Olusola Saraki said the problem with Nigeria is that her leaders knows what is right but most often fails to stand up to do the right thing for this country. Commenting on the topic of the Lecture titled: ‘National Unity and the Future of Nigeria,’ Saraki said he stands by his position espoused during a recent meeting of the Southern Senators’ Forum in Calabar on the need to place priority on the country’s unity. The subject matter today, about unity and like I said in Calabar last week, before we talk about restructuring, we must first talk about the unity of this country. To do that, we must not be afraid to do the right thing. We all know what the right thing are most times but we are never ready to stand and do the right thing for this country?â€? he said. Saraki also spoke on the life and times of his late father as well as his style of politics which he noted was based more on his belief in consensus , compromise rather than do or die posture. He explained that as a grassroots politician, his
late father was not lacking in the milk of kindness and the requisite courage to do what is in the interest of the majority of the people. “One thing Oloye had was courage and those of you that have worked with him will know that he has the courage to do whatever he believes in. It is that courage that we all need today. “We need the courage to do what is right for this country. We need the courage to put Nigeria first not our state or religion but the courage to put the country first. So long as we continue to discuss this issue, we will continue to talk about the potential of Nigeria not the reality that Nigeria can achieve. “Some go into politics as a business where you go with 10 and get 100. But he went into politics with everything and there was no way it would have been rewarding to him politically for what he did to Nigerian politics because he gave everything. This is surely one lesson we should all learn. “He also believed in consensus and that is what we learnt in Kwara State. He believed that it was not a do or die for any position. In doing that he contributed to the unity of this country by providing for the under privileged and for the masses. “He was always there trying to ensure that everybody benefited. He will always consult and we learnt that from him because he will consult up to the councilorship in elections,� he said. Also speaking at the ceremony, the Kwara State governor, Abdulfatai Ahmed, said the best approach to resolving issues agitating
the minds of Nigerians is to strength existing institutions and ensure that its all inclusive. He said the clamour for restructuring is as a result of failed institutions, adding that people must get justice and must trust the police and other government agencies. According to the governor, he have been able to drive good governance in Kwara and will continue to do that. “One thing comes out clearly and that is the fact that a system that is inclusive, and carry majority of the people along will naturally be a sustainable process. That is why we have always sought to put things in place not only at the subnational level, but we must seek to ensure that this is put in place in Nigeria. “Nigeria has the potential, we can do it. But one thing is clear, it cannot happen by
magic, but by sense of urgency to reform our institutions. Failure of institutions is what we are seeing, clamour for restructuring and all others is as a result of failed institutions. People must get justice, people must trust the police and other government agencies. “Until all these are done, if we continue to divide into ethnic nationalities and languages, we will never make a difference. Somalia has no working institution despite having one language, one people, one religion, yet it is a failed state. So, we must recognise that our strength in diversity is in strengthening our institutions because that is where our solution lies,� he said. Former Niger State governor, Alhaji Muazu Babangida, described late Saraki as a humanist who made his mark in politics
and national development. In the same vein, former Minister of Police Affairs, Yakubu Laman, described Olusola Saraki as a believer in “functional democracy� who tried to build bridges across the political divides. Similarly, elder statesman, Alhaji Tanko Yakassi who recounted how the late Saraki’s exploits in politics, describing him as a true Nigerian both by circumstance of his birth, believe and deeds. The lecture attracted many dignitaries including, former governors of Borno State governor, Mohammed Goni, Niger State, Muazu Babangida Aliyu, Kano State, Ibrahim Shekarau, Anambra State, Chief Jim Nwobodo, Benue State, Senator George Akure, Bauchi State , Isa Yuguda, former Deputy Senate President, Ibrahim
Mantu, former Minister of Agriculture, Sani Zango Daura, former President of the Court of Appeal, Justice Mamman Nasir, former Minister of Aviation, Tony Graham. Chief of Staff to the Senate President, Dr. Hakeem Baba-Ahmed, Senator Tijani Kaura, Senator Suleiman Nazifi, former FCT minister, Abba Gana. Second republic Senate President, Dr. Joseph Wayas, Deputy Senate President, Ike Ekweremadu, Senate Leader, Senator Ahmed Lawan, Senator Sahabi Abdullahi, Senator Lane Tejuosho, Senator Dino Melaye, Senator Rufai Ibrahim, former Kebbi State governor, Senator Adamu Aliero, Senator Grace Bent, former Zamfara State governor, Mamuda Shinkafi, Senior Special Adviser to the President on National Assembly Matters, Senator Ita Enang.
FG Not Serious About Clean up of Ogoniland, Says Wike Ernest Chinwo Ă“Ă˜ Ă™ĂœĂž Ă‹ĂœĂ?Ă™Ă&#x;ĂœĂž Rivers State Governor, Nyesom Wike, has declared that the federal government is not serious about the clean-up of Ogoniland.  The governor stated that for now, the Ogoni clean-up programme remains a political project aimed at attaining political mileage. Speaking when he granted audience to the Senate Committee on Environment on Investigative visit to Ogoniland, Wike said the people of Rivers State are tired of procrastination in relation to the execution of the clean-up. He said: “The federal government is not serious about the clean-up of Ogoniland. We are tired of telling our people that the project will start next year. “Let it not be a political project. Look at the Northeast, a commission was established and $1 billion released.â€? He said the devastation of Ogoniland has impoverished
the people by destroying their farmlands and fishing waters. He regretted that as a state that produces the wealth of the nation, Rivers State has no single motorable federal road. Commenting on the soot noticed in the state, Wike stated that it is a fallout of oil pollution, stressing that people were suffering the health hazards. Earlier, Chairman of the Senate Committee on Environment, Senator Oluremi Tinubu, said the committee was on an oversight visit to ascertain the level of environmental degradation in Ogoniland.  She said that the committee would draw attention to the environmental challenges facing the Ogoni people. Tinubu said: “We are concerned about these issues. We will use face masks when we get to the location. Face masks will draw attention to the message to the world on the essence of the clean-up.�
ENTREPRENEURS
L-R: Founder, Chikason Group, Mr. Chika Okafor; founder, Arco Petroleum, Mr. Alfred Okoigun; founder NESH, Mr. Emeka Ugwu-Oju; and founder, Future Concerns Group, Mr. Anthony Oguike, during the 2017 NESH annual gala dinner for entrepreneurs in Lagos....Sunday’
15 Arrested as NANS Zonal Election Ends in Bloodshed One killed, another severely wounded Emmanuel Addeh Ă“Ă˜ Ă?Ă˜Ă‹Ă‘Ă™Ă‹ The zonal election of the National Association of Nigerian Students (NANS) has ended in chaos at the Federal University, Otuoke, Bayelsa State.  In the aftermath of the bloody encounter, the police said yesterday that they had arrested 15 of the suspects, including the President of the students’ body in Bayelsa, Perewari Benjamin. Aside the shooting and eventual death of one Magam Elvis, a university of Uyo student who was participating in the event, one Tonye Samuel, a student of the University of Port Harcourt, Rivers State, was also shot and severely wounded. Some of the suspects also hijacked three buses at
gunpoint which they hired from Ammasoma park in Biogbolo, Yenagoa, to take them to the venue in Otuoke, seriously injuring the drivers and dispossessing them of their belongings. The police said two factions of the students’ body came in from UNIUYO, noting that some of the students who were arrested were already under serious reprimand and had promised to be of good behaviour before the incident. Commissioner of Police in the State, Amba Asuquo, told journalists that Akpan Esuabanga, Aaron Wisdom, Gabriel Enyeneokpan , Etefia Otobong , Akwaoso Uwankmfon, all from UNIUYO, were among those arrested in
connection with the attempted murder. Â He listed the three other suspects connected with the murder on the school campus as Emmanuel Ebere, Okon Ben and Obiakarije Innocent, noting that the remains of the deceased had been deposited at the morgue. Those who hijacked the buses and injured the drivers, he said, were Asari Enagob, Suoguai Bina, Ibe Ogbonna, Igbanibo Tari, Ekperi Kenneth, Kemefie Ebimene and Chukwuma Lawrence, most of them final year students of the Niger Delta University, Amassoma in Southern Ijaw local council. Â The CP noted that despite the deployment of 11 patrol teams in collaboration with the army, civil defence, the vigilante group
in Otuoke and the university internal security, the students still went on a shooting spree, leading to a breach of the peace. “It is disheartening to note these events which occurred at the zone’B’ election for coordinators of NANS, at the federal university, Otuoke, where the students representing universities and higher institutions in the South-south degenerated to the use of firearms,� he said. Also paraded was Princewill Aper who mobilised his cult group, the Greenlander, to attack the complainant, Edidiong Fabian, after alleging breaking into his shop in Ovom, Yenagoa and stealing his money.
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I Pray Professor Itse Sagay is Not Going Senile, Says Jonathan Obinna Chima Former president, Dr. Goodluck Jonathan, yesterday reacted to the statement credited to the Chairman of the Presidential Advisory Committee on AntiCorruption (PACAC), Prof. Itse Sagay, that if he (Jonathan) had another three years in the office, Nigerians would have been crossing Sahara to Libya In a statement by his former aide, Reno Omokri, he wondered if Sagay is going senile, saying the “assertion flies against the facts on the ground.” Supporting his argument, Omokri pointed out that the “World Bank says our economy was better under Jonathan than it is now.” According to him, Transparency International had reported that “corruption is worse today than under Jonathan. The Global Hunger Index says Nigerians are more hungry today than under Jonathan.” He added: “Nigeria moved from fourth most terrorised nation in the world in 2015 to 3rd most
terrorised nation in the Global Terrorism Index for 2017. “Furthermore, under President Muhammadu Buhari, the United Nations reveals that there has been a massive increase in the number of Nigerians fleeing Nigeria via the desert with 602,000 leaving annually and 27,000 dying every year either in the Sahara Desert or the Mediterranean Sea.” To this end, he sought to know “the parameter Sagay is using to make his jaundiced judgment. “Furthermore, under former President Jonathan, Nigeria was the first nation in the world to evacuate her citizens from Libya during the Arab Spring. Jonathan would never keep quiet if Nigerians are being sold as slaves in Libya. “If President Buhari can call Nigerians “criminals” to the Telegraph of UK, why should Nigerians be surprised when he does not act to free us from slavery in Libya? “Professor Sagay spends too much time poking his nose into other people’s affairs and too little focus on his own business, that is why under his watch as chairman
of the Presidential Advisory Committee on Anti-Corruption (PACAC), Maina got recalled, reinstated, doubly promoted and still received salary (according to his lawyer). “That is why the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, was able to award $25 billion worth of contracts without due process. “That is why $40 million was found in an Ikoyi apartment and Nigerians still do not know who the money belongs to. “That is why there has been unbridled looting around President Buhari to the extent that the Presidential Clinic at Aso Rock does not have ordinary Panadol despite the billions allocated to it under President Buhari. “My advise to Professor Sagay is that while he may be unjustifiably pointing one finger at former President Jonathan, four of his own fingers are justifiably pointing back to him and his puppet master,” he added.
FINANCIAL CLOUT OF STATES SHOULD DETERMINE NEXT MINIMUM WAGE, SAYS BUHARI
CONTRACT NO.
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increase will be cushioned with the result that a technical committee was set up. The technical committee among other recommendations for palliatives also recommended that the national minimum wage be reviewed in consonance with the request earlier demand of the labour unions. “Those recommendations came to council and council approved them and set up a 30man minimum wage committee. Mr. President, it’s important for us to know that the minimum wage is the lowest wage any employer is allowed to pay in any country because the issue of minimum wage is on the exclusive federal government list. Item 34 on that list is the issue of exclusion, giving the federal government through executive and the National Assembly the right to fix the minimum wage for the country, the minimum wage is a wage that is aimed at removing the problem of what the lLO calls poverty pain which is a pain that exists when earnings from paid work do not result in a living wage and thereafter fail to push people out of poverty and this concurrently will result in decent work deficit. “Mr. President, that committee has been constituted and government is playing a double role in this instance. It is playing the role of an employer of labour and a protector of the element of tripartism. The committee has been drawn from three areas of tripartite negotiations as enunciated by ILO - government on one side and even the government on one side is sub-divided into the federal and state governments, that is why you have the governors here. The governors are employers of labour in their respective states. “You also have on the other side employers in the private sector,
employers of labour association. We also have the wages committee. Other members of organised private sector OPS are represented here. MAN, NACCIMA, Small and Medium Scale Industry. Mr. President, this committee is balanced, exhaustive and will do the work in consonance with ILO social dialogue and collective bargaining. Collective bargaining is one of the measures between employers and workers. Very hopeful that your choice and approval for this committee is not in a wrong direction at all,” he said. Meanwhile, during the inauguration, Buhari, while making routine greetings before his remarks, turned to the national chairman of the APC, John Odigie-Oyegun, and said “accept my sympathy for losing a senior member of your party”. Although, he did not mention any name, former Vice-President Atiku Abubakar was the latest senior member of the APC to have left the party. Atiku last week announced that he was resigning because of the party’s failure to fulfil its promises to Nigerians. The president joked even more as he read out names of attendees. Also, during a session for group photograph with members of the committee, Buhari joked with the governor of Osun State, Rauf Aregbesola, by wondering how the governor was not “properly dressed” as opposed to his counterpart from Kebbi State, Atiku Bagudu. Before a shocked Aregbesola could recover, the president pointed to the Armed Forces Remembrance emblem on the chest of Bagudu, which was missing on the Osun governor.
CONSTRUCTION UPGRADE OF EVBIAKAGBA-IKPE-EVBUARUEEVBUOWIE -AVBIUGO-OKOGBO-IDUOWINA-IGBEKHUEOBOZOGBE’NIRO-UGBOKO’NIRO-UGO’NIYEKORHIONMWONEVBUOESI-ETHIOPE RIVER ROAD FROM SINGLE-CARRIAGE WAY TO DUAL-CARRIAGE WAY (70KM). CONSTRUCTION UPGRADE OF IGUELABA-UGO’NIYEKORHIONMWONBENIN ABRAKA ROAD FROM SINGLE-CARRIAGE WAY TO DUALCARRIAGE WAY (27KM). CONSTRUCTION OF EVBUOESI/BENIN ABRAKA-URHUEHUE WITH SINGLE SPAN BRIDGE OF 10.4M X 15M (4.4KM). CONSTRUCTION SOBE-SABOGIDA-ORA ROAD CONSTRUCTION OF UDABA - EKPERI ROAD (5.2KM) CONSTRUCTION OF OSOSO - OKPELLA ROAD (6KM) CONSTRUCTION OF IYUKU - ATTE - EBIGBERE ROAD (3.6KM) CONSTRUCTION OF IRRUA - OPOJI ROAD (10KM)
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CONSTRUCTION OF AMAHOR - EBELLE ROAD (7.74KM) CONSTRUCTION OF IYAKPI - UBIANE ROAD (5.2KM) CONSTRUCTION OF AYETORO - SOMORIKA ROAD (6KM) CONSTRUCTION OF UWELU ROAD (6.5) CONSTRUCTION OF AUNTIE MARIA – ORONMIYAN ROAD AND ENVIRONS (2.3KM) CONSTRUCTION OF OTAMERE-OKHUAROBO-MOBILE CRESCENTOGIDA STREETS, BENIN CITY (6.6KM) CONSTRUCTION OF OSAKPANMWAN-ANIGBORO-OBAYANTOR/ OMORODION-AGBONTAEN-UWAGBOE-IGBINOSA-ISIHUAN-MOYEIGHOMO AIHIE-AHUWAN STREETS (9.5KM) CONSTRUCTION OF IHUMUDUMU - IRUEKPEN ROAD PHASE 2 (8KM) CONSTRUCTION OF EKOSODIN – UTEKON ROAD AND ENVIRONS/ AGEN-OMORE ROAD/AYO-IDIAGHE STREET (9.38KM) CONSTRUCTION OF UOKHA-OHANMI-AROKHO ROAD (12.424KM) CONSTRUCTION OF UVBENISI – OKHUOKHUO – OGHADA ROAD (14.275KM) CONSTRUCTION OF RUBBER RESEARCH INSTITUTE ROAD, IYANOMO (FROM BENIN-SAPELE ROAD TO RUBBER RESEARCH INSTITUTE GATE) (2.118KM) CONSTRUCTION OF EVBONEKA-NIFOR ROAD (FROM BENIN-AKURE ROAD TO NIFOR GATE) (4.35KM) CONSTRUCTION OF OKOMU-IGUEZE-IGUELADIDI-IGUELAHORURHEZEN-MADAGBAYO-SAFAROGBO-OBAYANTOR (25KM) CONSTRUCTION OF ONOGHOLO – ORIA ROAD (10.823KM) CONSTRUCTION OF UBIAJA - UGBOHA ROAD (11.8KM) CONSTRUCTION OF UWAIFO – OKUNDIA/CANAAN – IYAMU – ARUOSAGHE – OGHOBAGHASE STREETS (3.44KM) CONSTRUCTION OF EKPON – IGBODO ROAD (8.75KM) CONSTRUCTION OF OKHA -UROHO-OBAGIE-IDOGBO ROAD AND UROHO - UTESI - EVBUOMOMA ROAD (22.79KM) CONSTRUCTION OF OUTER ERUA - INNER ERUA ROAD (10KM) CONSTRUCTION OF USEH - OKHOKHUGBO - UPPER EKEHUAN ROAD WITH SPUR THROUGH MECHANIC ROAD TO SILUKO ROAD (14.1KM) CONSTRUCTION OF ACCESS ROADS IN AMBROSE ALLI UNIVERSITY, EKPOMA (3KM) CONSTRUCTION OF OWINA - EVBUOTUBU - 1ST, 2ND AGHO EVBUOTUBU VILLAGE ROAD (7.542KM) CONSTRUCTION OF ERHUNMWUNSE - 2ND CEMETARY - AGHAHOWA ONAIWU STREET (12.71KM) CONSTRUCTION OF IRUEKPEN - EGORO - EGOROAMEDE ROAD (9.5KM) CONSTRUCTION OF UHIELE EGORONAOKA - EBUDIN ROAD (13.5KM) CONSTRUCTION OF IHUMUDUMU - AMEDE ROAD (5.3KM) CONSTRUCTION OF EKPOMA - EMUHI - EHOR ROAD WITH BRIDGE (21.266KM) CONSTRUCTION OF UJOELEN ROAD, EKPOMA (2.3KM) CONSTRUCTION OF IGUEBEN - IDUMOGHO - EGUARE ROAD (1.5KM) CONSTRUCTION OF 19TH STREET - OHONRE - ADOLO - UWELU - OGIDA MARKET ROAD (7.5KM) CONSTRUCTION OF ADESAGBON - EBUENEKI ROAD (18.5KM) CONSTRUCTION OF EBUENEKI - EGUELAHOR ROAD (18.3KM) CONSTRUCTION OF IGBE ROAD/MISSION ROAD/ ICE ROAD, AUCHI (6.5KM) CONSTRUCTION OF OHE - UROH - UGBOHA ROAD (10KM) CONSTRUCTION OF USEN - ULORIN - AYEGUNLE - UGBOGUI ROAD CONSTRUCTION OF OVA - UTOKA - ITE EMIAGHAN - EVBUORO AGIWIGIE - OHOVIE ROAD WITH SPUR OVA/OMI/IGUOSHODIN/ IGUZAMA/UNUAMEN (50.2KM) IGUOBAZUWA - UDO / TOWNSHIP ROADS CONSTRUCTION OF OMOREGIE WAY - OBA EWAKPE - TRADE FAIR AND IYOBOSA ROADS (4.5KM) CONSTRUCTION OF COLLEGE ROAD – KING STREET – ODION STREET – BENIN AGBOR ROAD CONSTRUCTION OF EKEHUAN - UHOLOR ROAD CONSTRUCTION OF OLD EWU - AGBEDE ROAD CONSTRUCTION OF EVBABOGUN ROAD CONSTRUCTION OF AGBEDE - JAGBE ROAD
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CONSTRUCTION OF EROR - IDUMOZA - AFUDA ROAD CONSTRUCTION OF IDUMEBO - OGHAGBO ROAD CONSTRUCTION OF EKOSODIN – UTEKON ROAD AND ENVIRONS/ AGEN-OMORE ROAD/AYO-IDIAGHE STREET. CONSTRUCTION OF UTEKON - EKOSODIN ROAD WITH A BRIDGE CONSTRUCTION OF IVIOGHE-IVIEBUA-IVIUKHA/IVIANOKPODIIBVIEGBEUEI-IVIUKWE/EKWOSOR ROAD. CONSTRUCTION OF OKOGBO -EGUERE-IDUWUNOWINA ROAD (2KM) CONSTRUCTION OF IGBEKHUE - SOKPONBA ROAD IDU - ABE ROAD OFF BENIN ABRAKA ROAD (7KM) CONSTRUCTION OF OGBAGO - OSHIOMEGBE - UDOCHI ROAD CONSTRUCTION OF FUGAR - WEPPA WANNO ROAD CONSTRUCTION OF ISIOHOR-EGBAEN-SILUKO ROAD CONSTRUCTION OF OBAMEDO STR, IYEKOMOSA STR, IRRIEMILA STR, EHONDOR STR, IWEGIE STR, UGBAGUE STR AND UGBAGUE LANE CONSTRUCTION OF NITEL ROADS AND EDPA STORES ROAD, ADUWAWA
MOI/ED/W/2017/NCB-145 MOI/ED/W/2017/NCB-146 MOI/ED/W/2017/NCB-147 MOI/ED/W/2017/NCB-148 MOI/ED/W/2017/NCB-149 MOI/ED/W/2017/NCB-150 MOI/ED/W/2017/NCB-151 MOI/ED/W/2017/NCB-152 MOI/ED/W/2017/NCB-153 MOI/ED/W/2017/NCB-154 MOI/ED/W/2017/NCB-155 MOI/ED/W/2017/NCB-156 MOI/ED/W/2017/NCB-157 MOI/ED/W/2017/NCB-158 MOI/ED/W/2017/NCB-159 MOI/ED/W/2017/NCB-160
recognition for each other and always in a spirit of give and take,” he added. The president tasked the committee to complete its assignment and submit its recommendations within a short period to enable the government put in place other necessary machinery for the implementation of a new minimum wage. In his remark, the Minister of Labour and Employment, Dr. Chris Ngige, who gave an account of events leading to the emergence of the committee, defined minimum wage as the least wage an employer must pay his employees in a given country. According to him, minimum wage, as stated by the International Labour Organisation (ILO), is meant to eliminate “poverty pain” which he said usually occurs when a worker’s earnings could not guarantee him a good living. “Today is a remarkable day because this is a journey we started in May 2016. In May 2016, the Federal Government of Nigeria decided to do appropriate pricing for petroleum products and because of that, the pump price of petroleum and kerosene and others had to take their real pricing. “Coincidentally, some weeks before then, the Trade Union Congress (TUC) and National Labour Congress (NLC) served the government a notice that the minimum wage would last in the next one month. They made a proposal to Mr. President on what they think will be the realistic national minimum wage. At the time the fuel price was increased, there was disquiet, resulting in industrial dispute between the labour unions on one side and the government on the other side. “Government therefore decided to set up a committee to look into how the effect of that pump price
CONTRACT DESCRIPTION
MOI/ED/W/2017/NCB-161 MOI/ED/W/2017/NCB-162 MOI/ED/W/2017/NCB-163 MOI/ED/W/2017/NCB-164 MOI/ED/W/2017/NCB-165 MOI/ED/W/2017/NCB-166 MOI/ED/W/2017/NCB-167 MOI/ED/W/2017/NCB-168 MOI/ED/W/2017/NCB-169 MOI/ED/W/2017/NCB-170 MOI/ED/W/2017/NCB-171 MOI/ED/W/2017/NCB-172 MOI/ED/W/2017/NCB-173 MOI/ED/W/2017/NCB-174 MOI/ED/W/2017/NCB-175 MOI/ED/W/2017/NCB-176 MOI/ED/W/2017/NCB-177 MOI/ED/W/2017/NCB-178 MOI/ED/W/2017/NCB-179 MOI/ED/W/2017/NCB-180
MOI/ED/W/2017/NCB-188 MOI/ED/W/2017/NCB-189 MOI/ED/W/2017/NCB-190 MOI/ED/W/2017/NCB-191 MOI/ED/W/2017/NCB-192 MOI/ED/W/2017/NCB-193 MOI/ED/W/2017/NCB-194 MOI/ED/W/2017/NCB-195 MOI/ED/W/2017/NCB-196 MOI/ED/W/2017/NCB-197
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TUESDAY, NOVEMBER 28, 2017Ëž T H I S D AY
44
NEWSXTRA
PDP Chair: I’ve Not Stepped Down  for  Anybody, Says Daniel Dokpesi: Bode George, others don’t mean well for PDP Hammed Shittu Ă“Ă˜ Ă–Ă™ĂœĂ“Ă˜ Ă‹Ă˜ĂŽ Laleye Dipo Ă“Ă˜ Ă“Ă˜Ă˜Ă‹ Former Governor of Ogun State and chairmanship aspirant of the Peoples Democratic Party (PDP) in the forthcoming  party’s national convention, Chief  Gbenga Daniel, yesterday said there was no truth in the speculations that he had stepped down for one of his rivals, Chief Raymond Dokpesi. He, however, expressed hope over the possibilities of the South-west trimming its chairmanship candidates before the national convention of the party. Daniel, who was in Ilorin, Kwara State, as part of his campaign for the slot, also hinted that the defection of former Vice President, Atiku Abubakar to the PDP would usher in an avalanche of similar defections in the  days ahead but denied that the party had prepared the ground for Atiku’s emergence as the presidential flag bearer. “You know, the PDP has become a bride; everyone wants to become part and parcel of a winning party,â€? he said He stated: “I have no doubt that PDP is going to form the next government in Nigeria. So we are happy
and we would look forward to receiving the former vice president and I can assure you he is not going to be the only one; there is an avalanche of people who are waiting to get into the PDP. “But it would not be correct to say we have prepared the ground for Atiku to pick the presidential ticket.  Don’t forget that the PDP is a democratic party, there are so many other people who want to pick the ticket and I am sure if he comes he is going to compete with every other person and somebody will pick the ticket. But there is no doubt in my mind that he is a very strong contender.� The former governor told journalists at the Ilorin International Airport that he was sure that the PDP would form the next government at the national level as he promised to use his office, if elected, to resolve lingering factional crises in some chapters of the party. On the speculations that he had stepped down Dokepsi, the former governor said:  “Or you mean others are stepping down for me?  I stepped down for who? That’s fake news, that’s not true.� He said: “Dokpesi is our friend but this is a race that I am a front runner. How do you expect somebody who is
ICPC to Arraign Mother of Alleged Killer of Ex-PDP Chair’s Son in Court for Corruption Paul Obi Ă“Ă˜ ĂŒĂ&#x;ÔË The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday arraign Maimuna Aliyu, former Executive Director of Aso Savings and mother of Maryam Sanda, alleged killer of Biyaminu Bello, son of former Peoples Democratic Party (PDP), Dr. Haliru Bello. Aliyu is being charged for the illegal sale of property belong to Aso Savings among other offences. According to ICPC Commissioner of Public Enlightenment, MM Abubakar “ICPC is due to arraign Mrs. Maimuna Aliyu, former Executive Director of Aso Savings and Loans Ltd as well as dropped nominee for Board member, ICPC.
“The arraignment is set to take place on November 28, 2017 before Justice M A Nasir of High Court 16 Jabi, Abuja. “Mrs Aliyu allegedly sold off three plots of land 2432; 2433; and 2434 in Cadastral Zone B08, Jahi District, Abuja, on behalf of Aso Savings and Loans Ltd at the cost of N57m without remitting same to the bank. He said: “She is also believed to have made false statement to officials of ICPC all contrary to Sections 19 and 25(1) (a) & (b) of the Corrupt Practices and Other Related Offences Act, 2000; and Section 311 of the Penal Code Act, Cap 532, Laws of Northern Nigeria 1990.â€? Aliyu’s daughter, Sanda is also facing charges for culpable homicide over the stabbing of her late husband, Bello to death.Â
a front runner to step down for another person? It’s not done that way. We are friends, we are working together but there is no issue of stepping down in this matter at all.� Meanwhile, Dokpesi yesterday took a swipe at Chief Olabode George, Professor Tunde Adeniran and others, saying: “They do not mean well for the PDP.  Dokpesi, a chairmanship aspirant in the December 9 national convention of the party, said in Minna, the Niger State capital, that the duo and others were planning to hold the party to ransom.
 Dokpesi made the scathing remarks on George and Adeniran, both chairmanship aspirants, and others while addressing delegates to the convention at the PDP secretariat as part of his mobilisation of party delegates across the country.  “Some people are holding PDP to ransom, they are asking that the chairman should micro zone the chairmanship to the Southwest. Their stand is wrong and against the resolution taken at the Port Harcourt convention in 2015.  “Ahmed Makarfi has
shown clearly that there shall be no micro zoning, Bode George and others don’t mean well for the PDP, they are just trying to hold parallel convention,� he said.  The aspirant asked for fairness equity and fair play by the National Caretaker Committee, insisting that “Makarfi should not be removed.�  Dokpesi also challenged any aspirant from the Southwest that felt he was more popular “to meet me at the convention.  “If there is anybody that
is better than me let us meet in the field. I am the only one that can unite the PDP, and the country. We will continue the struggle to keep Nigeria one, only the PDP can be used as the vehicle to keep Nigeria one.�  The Niger State Chairman of the party, Alhaji Tanko Beji, in his remarks, said the December 9 national convention of the party would determine the survival or otherwise of the PDP.  Tanko Beji said state would take a collective decision on what to do at the convention.
A
28.11.2017
weekly pull-out
“Mr. Projects”: Rivers State is Safe and Open for Business
Rivers State Governor, Nyesom Wike
2/DASHBOARD
28.11.2017
Admissibility of Translated Statement of an Accused Person Recorded in Vernacular page 4
Group: To Mitigate Trial Delays, Judiciary Must Address its Role in Causing Them page 5
LawPavlion Unveils Judicial Feedback System for Judges page 5
Sanni, Lagos State Professor of Tax to Deliver Lecture on Multiplicity of Taxes page 5
You Must Read, Solanke, SAN Admonishes Lawyers at Aelex Law Lecture
Quotables
page 6 ‘What I see is someone acting in a dysfunctional manner. It has nothing to do with party politics at all....if a dysfunctional person acts dysfunctionally, and has the added advantage of being well placed, he attracts publicity, positive or negative....what happened in Port Harcourt on that fateful Saturday morning is unfortunate....what you see in Rivers State is a deliberate attempt by somebody to denigrate an office which he had held previously ‘ – Emmanuel Chinwenwo Aguma, SAN, Honourable Attorney-General and Commissioner of Justice, Rivers State ‘This Administration was clear in its determination to enhance the economic fortunes of Nigeria, through the diversification of the country's economy, with a view to reducing poverty, creating jobs, stimulating revenue generation, ensuring effective utilisation of local resources, and providing sustainable peace and security.’ – Alhaji Lai Mohammed, Lawyer, Minister of Information & Culture, Federal Republic of Nigeria
‘A Lawyer Must Make a Mark in a Particular Area’ page 6
Ban on Medical Doctors in Public Service from Private Practice page 7
ONIKEPO BRAITHWAITE EDITOR JUDE IGBANOI DEPUTY EDITOR AKINWALE AKINTUNDE REPORTER TUNDE BUSARI GROUP HEAD OCHI OGBUAKU II ART DIRECTOR
/3
A New Dawn in Zimbabwe?
L
ast week was a rather eventful one. I don’t know where to start. Three events that occurred, were my own highlights. The change of baton in Zimbabwe, our trip to Congo Brazzaville, and the young lady in Abuja, Maryam Sanda, who is accused of murdering her husband, because of suspicions of infidelity.
Zimbabwe: The Fall of Mugabe
Remember that I wrote about ‘sit-tight’ Dictators in my piece “Can I be President for One Day” on 27/12/16? Here some excerpts from it: “Recently, I saw a headline on television, saying that President Mugabe of Zimbabwe, who has been in power for 36 years, intends to run again in the 2018 election, by which time he will be 94. The first thought that crossed my mind was “if he’s still alive by then!” (Not that I wish him dead or anything like that). However, it is obvious that Mugabe wants to remain in power ‘until death does him and the Presidency part’ (President for Life). Mugabe has already surpassed Joaquin Balaguer of the Dominican Republic, who had previously broken the world record as the oldest President in the World, leaving office at the age of 89. So, if it’s a place in history that Mugabe seeks, he already has one!” I went on to say “Should African Leaders be made to swear to Sango or Amadioha (god of Thunder and Lightening) or Sopona (god of Smallpox), or some other deity, that if they do not step down graciously when their terms end, they will be struck dead or afflicted with smallpox or some other deadly disease? We Africans are still rather traditional, superstitious and fetish, and definitely seem to have more fear for that type of thing, than the police or constitution”. In Yoruba, we have a saying “Ase ju, ase te” (you overdo it, you end up in disgrace). Disgrace, was more or less the fate suffered by Mugabe, who was finally forced out by the Military (or face impeachment), after he sacked the Vice President, Emmerson Mnangagwa, in order to pave the way for his wife “Gucci Grace”, to succeed him and assume the Presidency after him!
This to me, is a lesson for all ‘Sergeants Kusibe’ (Sergeants Die there/Sit-tight) Dictators, and those of our Rulers who are totally insensitive and fail to feel the pulse of the people, that ‘everyday for the thief, one day for the owner’; the people or some powerful institution, will eventually turn against you, and sack you when the time comes. When the Zimbabwean Army swung into action, Nigerians were wondering why they simply didn’t just deal ruthlessly with Mugabe, instead of waiting for him to make the decision to resign. Maybe it is because of the Army decided to follow their Constitution to the letter. Strangely Section 23(1) of the Zimbabwean Constitution, provides that the State and all institutions and agencies of government “at every level must accord due respect, honour and recognition to veterans of the liberation struggle”! Of course, Robert Mugabe was a front runner of that struggle, and he probably just inserted that clause into the constitution, for his own benefit. Section 10(1) of the Zimbabwean Constitution provides inter alia that, in the event that the President dies, resigns or is removed from office, the Vice President will assume the Presidency until the expiration of the former President’s term of office. Even though the Zimbabwean Constitution actually provides for two Vice Presidents (Section 92(1)), it seems that Mnangagwa was the only Vice President. It is therefore, in order for him to be sworn in as President. If I was Mnangagwa, I would choose Morgan Tvangirai of one of the opposition political parties, Movement for Democratic Change (MDC-T), as one of my Vice Presidents, to show a willingness for inclusion and real reform. I would also start to implement the reforms that Zimbabwe is in such dire need of, while making preparations to hold the elections, as and when due. It would not be a bad idea, to appoint a woman (not Gucci Grace), who is acceptable to the people and obviously up to the task, as one of the two Vice Presidents. But will this be the case? Some say that 75 year old Mnangagwa, a Lawyer by profession, is almost as brutal as Mugabe, as he was one of the ‘three musketeers’ with Mugabe and the Head of the Military, General Constantine Chiwenga.
In any event, the world is watching and hoping that, for the sake of the Zimbabweans, this is a new dawn of ‘change’ and progress for them, and not business as usual. The way that some of the Zimbabweans were shown on television, almost somersaulting while dancing ‘Azonto’ and ‘Palongo’, it seems that they are extremely joyful and hopeful that this change of baton, will be a change for the better. With their economy more or less in shambles, the rate of unemployment astronomical (up to 90% or so), high crime rate, inconsistent State policy, destruction of the once fruitful agricultural sector, to mention but a few, Mnangagwa has his work cut out for him. May the Zimbabweans not be disappointed.
Dangote Berths in Congo Brazzaville
I cannot but tell you about our trip to Congo Brazzaville (Republic of Congo) last Thursday, for the commissioning of the 1.5 million MTPA Dangote Cement Plant SA situated at Mfila. The Special Guest of Honour was His Excellency, President Dennis Sassou Nguesso. Two things struck me about the place. First, it was the cleanliness of the environment. Unlike Nigeria, where the whole place is covered with garbage and ‘pure water’ satchets, the road from Nkayi Airport where we landed to the factory, a 30-45 minute drive, was practically immaculate. Second, was the quality of the road. It was a smooth road, beautifully done with drainage and wide speed bumps laid out at the approach to every village which we passed on the way to the factory. I wondered what the capital, Brazzaville, looks like, if this almost backwater looked like this. The Mfila Plant seemed slightly similar in structure to the one in Obajana, Kogi State, though of course, Obajana is much bigger, 10.25 million MTPA or so. Obajana also has its own power plant, which, when we were taken on a tour of the facility the day it was commissioned in 2014 or so, we were told is capable of lighting up the whole of Abuja. We were also informed that the power plant was built in 14 months or less. When we were given this information, it was as if someone just poured ice cold water all over my body! So why had the subsequent Governments, been giving us such long and hopeless stories about the electricity situation in the country, how the situation is complex and cannot be rectified quickly? If Dangote Cement could build such a power plant in such a short period of time, what was Nigeria’s excuse? Even if the old installations were abandoned, new power plants could have been built in the different geo-political zones within 14 months, just like Dangote Cement. Why has it taken Nigeria so long and more or less unsuccessfully I might add, to tackle the power situation in the country? Maybe we should call in Dangote Cement to be our Power Sector Consultant! Needless to say, Dangote Cement did us proud. Not only does it remain the highest employer of labour outside of Government in Nigeria, it probably takes the same position in the other African countries where its factories are located. Congratulations Dangote Cement.
Bilyamin Bello and the Curse of a Violent Spouse?
Robert Mugabe
R.I.P Bilyamin Bello Nigerians woke up on November 20th, to the shocking news that 35 year old Bilyamin Bello (seems that he would have turned 36 a few days after his death), a young man who had his whole life ahead of him, had been stabbed to death in his
Onikepo Braithwaite
The Advocate onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com
"Why has it taken Nigeria so long, and more or less unsuccessfully I might add, to tackle the power situation in the country? Maybe we should call in Dangote Cement to be our Power Sector Consultant!" Abuja home; and the person accused of his murder is his widow, Maryam Sanda Bello, who has been charged with culpable homicide punishable by death under Section 221 of the Penal Code. Though a person accused of murder can be granted bail by a Judge of the High Court, Maryam was denied bail and remanded in custody, until the commencement of her trial on December 7th. To succeed, the Prosecution is required to prove that (a) the victim is deceased (b) that his death is as a result of the actions of the accused (c) that the accused’s actions were intentional and she knew that the probable consequence of her attack on the victim were grievous bodily harm or death. MUSA v THE STATE (2009) ALL FWLR Part 492 Page 1020 at 1033. The onus (burden) is on the Prosecution to prove the case beyond reasonable doubt. Failure to do so, will result in the discharge of the accused person. There are several defences open in a charge such as this, including self defence and provocation. In the case of the defence of provocation, if it is upheld, the offence may be reduced from culpable homicide punishable with death to culpable homicide not punishable with death. AHMED SHEIDU v THE STATE LER [2014] SC/222/2011. This case is different in the sense that, what we are used to seeing, is violence by the husband against the wife, and not the other way around. The bottom line is that a lot of people have anger management problems in Nigeria, and they do not seek help. Who knows whether there is really any proper psychiatric/ medical assistance, available for that type of problem in Nigeria. Anyone with a violent spouse, may probably be better off taking to their heels, and escaping from a violent spouse, so that the worst does not happen, as in the case of late Bilyamin. May Allah, in his infinite mercy, grant Bilyamin Bello Al jannah Firdaus. Ameen.
4/LAW REPORT
28.11.2017
Admissibility of Translated Statement of an Accused Person Recorded in Vernacular
T Facts
he Appellant and two others, were charged at the High Court of Ogun State, for the offences of conspiracy to commit armed robbery and armed robbery. It was the case of the Prosecution that on 15th April, 2003, the Appellant and five other persons armed with guns and cutlasses, robbed a certain Bamidele Ogunbiyi (PW1) and his wife (PW2) in their home, with one Abiodun Otunde (PW3). After the robbery, the victims reported the incident at the Ayetoro Police Station, and a Policeman was directed to accompany them to a Police Checkpoint along Abeokuta Road. While at the checkpoint, a Toyota starlet car with six men inside was ordered to stop, and all of the passengers disembarked. Some of them fled. However, the Appellant was arrested and taken to the Police Station, where he made two statements - Exhibit M and N. PW1 and PW2’s properties were found in the boot of the car. Within a month after the armed robbery incident, the Police conducted an identification parade where the Appellant was positively identified by PW1. In his defence, the Appellant set up an alibi to the effect that on 14th April, 2003, he was at the site of a certain Pastor Ashore, where he was working as an electrician and he slept on site. He further stated that he boarded a vehicle at Ayetoro Motor Park, after he was dropped off by the younger brother of Pastor Ashore, and that he was inside the vehicle when it was stopped and he was arrested. He denied conspiring with anyone to commit armed robbery. The Appellant identified exhibit M as his statement after it was read to him, but denied making exhibit N. At the end of the trial, the trial judge found the Appellant and the other accused persons, guilty of the offences as charged and sentenced them to death. Dissatisfied, the Appellant appealed to the Court of Appeal which dismissed his appeal. The Appellant further appealed to the Supreme Court. Issues for Determination The Supreme Court adopted the following issues for determination: 1. Whether exhibit “N” was properly tendered and admitted through the Appellant, and rightly acted on by the trial Court and affirmed by the Court of Appeal, in convicting the Appellant of the offences charged. 2. Taking into consideration the defence put up by the Appellant, could it be reasonably contended that the Prosecution adduced sufficient evidence to fix the Accused person at the scene of the crime, even if the doctrine of recent possession was invoked against the Appellant such that his conviction and sentence ought not to be disturbed by the Honourable Court. Arguments On the first issue, Counsel for the Appellant, observed that exhibit N is an English translated version of the statement of the Appellant given in Yoruba. He further observed that, the Appellant denied making it but the Prosecution tendered the statement through him unchallenged. He submitted that, the said exhibit is inadmissible since the interpreter was not called to give evidence. Therefore, it was wrongly admitted by the trial Court, and this ought to be reversed on appeal. In response, Counsel for the Respondent submitted that, exhibit N was tendered through the Appellant during his cross-examination, and there was no objection by the Appellant or his counsel. He argued that, exhibit N was a voluntary confession made by the Appellant, and the Courts were right to have admitted it as valid evidence in convicting the Appellant. On the 2nd issue, it was argued for the Appellant, that the failure of the Police to investigate the alibi and to call the driver of the Toyota Starlet car, was fatal to the Prosecution’s case. He argued that, if the alibi of the Appellant was tested against the doctrine of recent possession, the alibi would have created doubt, which ought to have been resolved in favour of the Appellant, and that the trial judge only invoked the doctrine of recent possession to disprove the alibi of the Appellant. Counsel observed that, it was after the stolen items were found in the boot of the Toyota Starlet car, that PW1 recognised all the armed robbers and that the subsequent evidence of identification against the Appellant, which was prompted and aided by the finding of the stolen items in the car, was improper, and ought not to be relied upon by the trial Court. He also contended
that, the Respondent was unable to link each of the accused persons with the stolen items, and urged the Court to allow the appeal. Conversely, Counsel for the Respondent argued that, the evidence of identification given by PW1, PW2 and PW3 was not challenged under cross-examination. He stated that, the robbers were not masked when they carried out the robbery, and they had spent sufficient time with PW1, PW2 and PW3, thereby making identification easy. On the doctrine of recent possession, Counsel submitted that it was correctly invoked by the Courts below, since the evidence that the Appellant was found to be in possession of the stolen goods shortly after the robbery, without the Appellant providing cogent reason for his possession of same, nailed him to the offences he was charged with.
Olabode. Rhodes-Vivour, JSC
In the Supreme Court of Nigeria Holden at Abuja On Friday, the 2nd Day of June, 2017 Before Their Lordships Olabode Rhodes-Vivour Clara Bata Ogunbiyi Amiru Sanusi Paul Adamu Galinje Sidi Dauda Bage Justices, Supreme Court SC.301/2012 Between Babatunde Adelani ........ Appellant And The State .......Respondent Lead Judgement delivered by Hon. Olabode RhodesVivour, JSC
"Before the statement of an accused person given in vernacular can be admissible in evidence, the Police Officer who recorded the statement and the interpreter, must testify in court. For Exhibit N to be admissible under Section 91(1) (a) and (b) of the Evidence Act, it must be tendered through the interpreter and/or the person who recorded it. That is to say, it must be tendered by a person who can give direct oral evidence of its contents"
Court’s Judgement and Rationale In determining the first issue, the Apex Court relied on its decision in FRN v USMAN (2012) 8 NWLR (PT. 1301) PG. 141 to hold that before the statement of an accused person given in vernacular can be admissible in evidence, the Police Officer who recorded the statement and the interpreter, must testify in court. For Exhibit N to be admissible under Section 91(1)(a) and (b) of the Evidence Act, it must be tendered through the interpreter and/ or the person who recorded it. That is to say, it must be tendered by a person who can give direct oral evidence of its contents. In the absence of the person who interpreted and recorded Exhibit N to give evidence, it amounts to documentary hearsay and is inadmissible; no probative value can be attached to it. Although it is the duty of counsel in a trial Court to object to inadmissible evidence, however, where the Court finds that inadmissible evidence has been wrongly admitted, it has a duty to expunge it when delivering judgement, and where such inadmissible evidence escapes the scrutiny of the trial Court, the Appellate Court must reject such evidence. On the 2nd issue, the Supreme Court held that, where an Accused person relies on the defence of alibi, the onus of establishing same lies on him since it is within his personal knowledge. The alibi must be comprehensive on when, where and with whom the accused person was on the day and time the offence was committed. Once there is stronger evidence to fix an accused person at the scene of the crime, investigation of an alibi would not be necessary. OKOSI v STATE (1989) 2 SC (PT. 1) P. 126. Further, on the issue of the identification parade conducted, once the witness/victim of a crime who says he saw the Accused person committing the crime identifies him in a properly conducted identification parade, the identity of the Accused person is no longer in dispute. Relying on the doctrine of recent possession as provided in Section 167(a) of the Evidence Act, it was held that the court may presume that a man who is in possession of stolen goods soon after the theft, is either the thief or has received the goods knowing them to be stolen, unless he can account for it. Relying on Section 251(1) of the Evidence Act, 2011, the Court held that the wrongful admission of evidence, shall not be sufficient ground for reversal of any decision on appeal, where there are other pieces of evidence that can sustain the decision of the trial Court. The rejection of the Appellant’s purported statement - exhibit N - in evidence notwithstanding, the evidence of PW1, PW2 and PW3 identified and fixed the Appellant at the scene of the crime. The Appellant was unable to put forward evidence of his alibi worth considering; therefore, the Prosecution was right by not investigating the alibi, particularly in view of the overwhelming evidence linking the Appellant to the armed robbery. The discovery of the materials carted away in the course of the robbery, in possession of the Appellant, among other evidence, was sufficient to establish the case of the Respondent against the Appellant. Appeal Dismissed. Representation: M. Adetunbi Esq. with B.T. Onwubiko and A.A. Abdulraheem for the Appellant L.A.O. Nylander Esq. for the Respondent. Reported by Optimum Publishers Limited (Publishers of the Nigerian Monthly Law Reports (NMLR))
28.11.2017 NEWS/5
LawPavlion Unveils Judicial Feedback System for Judges
PRESENTATION Ondo State Governor, Mr. Rotimi Akeredolu, SAN, flanked by Mr. Ope Olugasa and Debola Adewale of LawPavilion while presenting Words in Gold, A Special Compilation of His Cases and Arguments at the Courts, to Governor Akeredolu in Akure recently
Group: To Mitigate Trial Delays, Judiciary Must Address its Role in Causing Them Stories by Akinwale Akintunde A human rights advocacy group, Access to Justice, has urged the Judiciary to urgently address the role it plays in causing delays in trial of cases before it. In a statement signed by its Deputy Director, Dr. Adenike Aiyedun, the group said that the Judiciary is interested in cutting trial delays, but it must now walk the talk, and introduce reforms that remove all the factors that occasion delays in the trial system. Access to Justice stated that, it observed that from Monday, November, 20 to Friday, November 24, 2017, Nigerian Judges had their bi-annual Judges Conference in the Federal Capital Territory, Abuja, adding that these Conferences have become institutionalised and bring together a cross-section of superior court Judges and Justices of Appellate courts, in a week-long programme of activities. The group raised serious concerns about the effect of Judges and Justices of Appeal, being away from their Benches during a period when Courts should normally be sitting. According to them, any talk about reforming the speed at which justice is administered, must include a commitment, indeed a Covenant, not to place any other duty on Judges above the duty to adjudicate over their various dockets. The group urged the National Judicial Institute, the organiser of these Conferences, as well as the Chief Justice of Nigeria, to review again the timing of these conferences in the interest of the timely administration of
justice in Nigeria. “The effect of Judges and Justices of Appeal being away from their Benches during a period when Courts should normally be sitting, is of concern to us. Our representatives visited some courts (the Lagos Division of the Federal High Court, the Lagos Division of the Court of Appeal, and the Lagos State High Courts), and observed that in the courts presided by Judges/Justices attending the Conference, there were cases in the courts’ dockets slated for hearing this week. The obvious consequence of the absence of the Judges/Justices from courts, is that the cases scheduled for this week would necessarily suffer “no-show” adjournments. “In the courts we surveyed, we also found that litigants/ court users whose cases were scheduled to be heard this week, were not informed before hand that the courts would not be sitting; therefore, these court users would turn up in court and then be told that no business will or can be conducted by their respective courts because Court Judges are away on Conference. This, again, is not right. There would be many litigants/witnesses, who would have given up important commitments in order to come to court, and it is no comfort to them to be told that Judges are attending some Conference. Access to Justice stated that, while it has no objection to conferencing amongst Judges or anyone else, it however, observed that there is nothing inevitable about how those meetings are scheduled, and no legal requirement that such conferences take place on court
users’ time. “Once courts open for business, the time available to be applied towards adjudication of disputes, technically belongs to court users and the satisfaction of their needs, and not the Judges themselves, since it is to meet the needs of court users that the Judiciary owes its existence. The Judiciary therefore, is accountable to the public, particularly to court users, for the use of that time. It therefore stands to reason, that a Judge’s primary function and overarching responsibility, is to attend to the business of the court. “Conferences should, on this basis, be re-timed to take place during Court Vacation, to minimise the impact it has on the business of the courts – the same way the Nigerian Bar Association does. It is instructive to note that, in quite a number of countries, Judicial Conferences are held on weekends or public holidays, in order that the conferences do not affect the official businesses of the courts. In India for example, judicial conferences have been held on Easter, as well as on its Independence day. “As a matter of fact, the Code of Conduct for Judicial Officers, specifically states in a preamble, that the “... the judicial duties of a Judicial Officer, which include all the duties of his office prescribed by law, take precedence over all his other activities." To reduce court delays therefore, the Judiciary must prioritise the rendering of a Judge’s adjudicative function, above every other activity of its Judges. “The scale of the impact which a Court’s closure for
even one day has on the life of any single case, is significant, and not miniscule or marginal as may be assumed: the fixture of any trial date often involves participatory forensic planning, to ensure a date is suitable for every party in the case – i.e. the court, the litigants, legal counsel and witnesses. Therefore, one adjournment can trigger a series of further adjournments, in an effort to get a suitable trial date for all the parties. Preventing one adjournment can, therefore, save a significant amount of time available for trial and improve court users’ experiences with attending courts. “In any event, taking a stand that Judicial Conferences will no longer disrupt courts’ adjudicative functions, will set a worthy example for every stakeholder in the justice system: it will amplify the message that it is no longer business as usual in our courtrooms, and that the Judiciary expects Judges to no longer superimpose other responsibilities over their primary adjudicative duties. If the National Judicial Council fails to do this, the current paradigm of adjudicatory delays will not change, and will continue to create unpleasant experiences for court users and an unfavourable perception of courts and justice in Nigeria. It is instructive to note that, at opening of the ongoing Judicial Conference, President Buhari himself lamented that: “Regrettably court cases can drag on for years and years, sometimes decades without resolution” “, Access to Justice stated.
Africa’s leading Legal Technologies Company, LawPavilion has launched a fresh innovation aimed at helping the Judiciary to properly monitor judgments from the Court of First Instance (usually High Courts) that have gone on appeal to the Court of Appeal and Supreme Court. According to the Managing Director of LawPavilion, Mr. Ope Olugasa, the new innovation was unveiled at the Biennial Judges’ Conference organised by the National Judicial Institute (NJI), in Abuja. Olugasa pointed out the innovation was conceptualised and developed by LawPavilion in response to the obvious need by Judges of Courts of First Instance to be promptly notified when matters they have pronounced upon which went on appeal have been decided upon by appellate Courts. "While working closely with the Court of Appeal, the Appellate Feedback System for Judges (AFSJ) was conceptualised and developed by the Company in
response to the obvious need by Judges of Courts of First Instance to be promptly notified when matters they have pronounced upon which went on appeal have been decided upon by appellate Courts. "The AFSJ is an unprecedented innovative solution that proposes to celebrate the cerebral skill and sagacity of High Court Judges who adjudicate and pronounce upon millions of cases across the Federation, to have their decisions upheld all the way to the Supreme Court. This exhilaration and sense of accomplishment is part of what the AFSJ seeks to accomplish. "The AFSJ is an ingenious attempt to give Judges an impartial feedback on their performance such that Judges are personally motivated to consider all facts and the Law before making pronouncements on the matter before them. "This would greatly enhance the quality of judgments
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Sanni, Lagos State Professor of Tax to Deliver Lecture on Multiplicity of Taxes The Board of Trustees of the Lagos State Professorial Chair in Tax and Fiscal Matters, in collaboration with the Department of Commercial & Industrial Law, Faculty of Law, University of Lagos will hold its 1st Annual Lecture on November 28th, 2017. The Lecture, titled “Policy, Legal And Administrative Imperatives in the Quest for Eradicating Multiplicity of Taxes in Lagos State”, will be delivered by Professor Abiola Sanni, the occupier of Lagos State Professorial Chair in Tax and Fiscal Matters at J.K. Ade-Ajayi Auditorium, University of Lagos, Akoka, Lagos, at 3pm. The Lecture will be chaired by Honourable Minister of Finance, Mrs. Kemi Adeosun, while the Special Guest of Honour is the Executive Governor of Lagos State, Mr. Akinwunmi Ambode. Dr Wale Babalakin, SAN and Prof Toyin Ogundipe, FAS, are the Guests of Honour and Chief
Host respectively. The Lagos State Government, recently endowed a Professorial Chair for the advancement of Lagos State Taxation and the principle of Fiscal Federalism. Professor Abiola Sanni, the occupier of the Chair, was recently appointed the Chairman of the National Committee on the Review of National Tax Policy in 2016, to establish a sustainable framework for revamping of the Nigerian tax system. Professor Abiola Sanni is a Fellow and Legal Adviser of the Chartered Institute of Taxation of Nigeria (CITN), among other professional bodies. He is also a member of International Centre for Tax and Development (ICTD) Advisory Group. ICTD is a global policy research network, which is devoted to improving the quality of tax policy and administration in developing countries, with a special focus on sub-Saharan Africa.
Lagos Arraigns Cameroonian House Help for Killing Employer A 21-year old house cleaner, Leudjou Joel, was last week docked by the Lagos State Government for allegedly killing his employer, Miss Dayo Eniola. The suspect, who is Cameroonian, was arraigned before Justice Akintoye of a Lagos High Court, sitting in Igbosere. According to prosecution led by the Lagos State AttorneyGeneral and Commissioner for Justice, Mr. Adeniji Kazeem, the murder suspect committed the alleged murder at his employer’s residence at 15, Prince Tayo Adesanya Street, Park View Estate, Ikoyi on 20th December, 2016.
After his arraignment, the Attorney- General asked the court to remand the suspect in prison custody pending commencement of the trial, because of the heinous nature of his crime. Justice Akintoye subsequently, remanded the suspect in Ikoyi Prison pending commencement of trial on January 18, 2018. 33-year old Miss Dayo Eniola, who was about to be married, was allegedly stabbed to death at her Park View Estate residence, Ikoyi, Lagos, by her domestic staff, for refusing to meet his request for a salary advance.
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You Must Read, Solanke, SAN Admonishes Lawyers at Aelex Law Lecture Akinwale Akintunde Nigeria’s first female Senior Advocate of Nigeria, Chief Folake Solanke, last Wednesday urged Nigerian lawyers to cultivate the habit of reading, and to continue reading for the rest of their lives. Solanke said this in her opening remarks as Chairman of the Annual Aelex Lecture Series, which held at the MUSON Centre, Onikan Lagos. This year’ lecture, which was the 12th in the series, had as its theme ‘Schooling Without Learning’, and the Guest Speaker this year was former Vice Chancellor, University of Lagos, Professor Oyewusi Ibidapo-Obe. Kicking off the lecture with her Chairman’s Remarks, Chief Solanke, SAN urged lawyers to read and apply their brains. That lawyers must cultivate the habit of reading, which should be a habit for life. She further said that lawyers must master the English language, which is the language of the court, expressing her displeasure at hearing lawyers speak and write bad English, even in court. In the Keynote Lecture, Prof Ibidapo-Obe, emphasised the need for the government to think about innovations in the education sector. He warned about the emergence of artificial intelligence, and its potentially devastating effect on jobs and education. Prof Ibidapo-Obe said that our schools are just not ready for the future, and that all that the Nigerian education system produces now, are unemployable graduates, resulting in hunger and poor quality of life. On the emergency declared in the education sector by the Buhari administration, Prof Ibidapo-Obe came up with posers for the government. What are the targets? What does the government intend to do? When will Nigeria exit the emergency as declared? He therefore, challenged the government in the area of planning and funding of education. He posited that, when the government engages low quality teachers, the end result would be students graduating with low grades and according to him, it’s a vicious circle.
L-R: Guest Speaker, Professor Oyewusi Ibidapo-Obe, Chairman of the occasion, Chief Folake Solanke, SAN, Discussant, Dr. Adamu Jatau Noma; Discussant, Mrs. Adora Emily Ojo and Partner, Aelex Legal, Mr. Theophilus Emuwa, at Aelex 12th Annual Lecture theme; "Schooling without Learning" at Muson Centre, Onikan, Lagos. Photo: Kolawole Alli
Beyond funding, he pointed out that, government must make schools attractive and the environment, conducive for learning. That teachers’ welfare must be a top priority for the government, in addition to training and retraining. He decried the system of Multiple Choice questions in any exam, and said that the recent policy of JAMB’ 120/400 pass mark would spell doom for Nigeria’s tertiary education. Discussants at the lecture, included the Executive Director, FCT Universal Basic Education Board, Dr. Adamu Jatau Noma, Principal, International School, University of Lagos, Mrs. Adora Ojo, and Principal, Kataf Youth Christian Academy, Kaduna, Ms. Swanta Blessing Bonat. Dr. Jatau, in his presentation, regretted the fact that teachers always take the blame when students fail in exams, but regrettably nobody remembers to commend teachers when students
pass. He commended a return to teaching children in their mother tongues, in early childhood. Mrs. Ojo, on her part, painted a dismal picture of the worrisome number of children who roam Nigeria’s streets, when they are supposed to be in school. She said even in Lagos, it is saddening to see so many children out of school, hawking goods on the streets. She recommended that funding the education sector must be strengthened, and that government should ensure that teachers are certified. Ms. Blessing Bonat expressed a strong disappointment that government has so far, not been able to come up with a strategy to deal with examination malpractices across all institutions of learning in Nigeria. She said it is common knowledge, that teachers now write examinations for their students who can afford to pay for it. She identified the major problem in the educa-
tion sector, as poor quality of graduates from colleges of education. She noted that students who end up in colleges of education, are those who otherwise couldn’t pass examinations to get into regular universities. She further recommended that, the government must pay attention to schools in rural areas. Addressing a cross-section of the media after the lecture, a partner in Aelex Law Firm, Mrs. Funke Adekoya, SAN, and Managing Partner, Mr. Theo Emuwa, said although the firm is 13 years old, this is its 12th Annual lecture which is its corporate social responsibility. Adekoya said that the choice of education as the topic for this year’s lecture, was informed by the serious challenges Nigeria is witnessing in the education sector, including incessant strikes, poor funding, all resulting in an abysmal drop in the quality of graduates from Nigeria’s schools.
Legal Personality of the Week Bayo Akinlade
‘A Lawyer Must Make a Mark in a Particular Area’ My name is Bayo Akinlade, I come from a large family of 19 brothers and 10 sisters. I am from Isale Eko (Lagos Island), and a member of the Bashua Chieftaincy family of Lagos State. I attended Randle Avenue Primary School, Surulere; Government College, Lagos, Eric Moore and gained admission to study Law at the Ahmadu Bello University, Zaria in September, 1992. In 1999, I went to the Nigerian Law School and I was called to the Bar in 2001. I started practice as an Associate in the Law firm of Chief G.O. Sodipo & Co., while also working as the National Field Representative of the Christian Lawyers Fellowship of Nigeria (CLASFON). As Field Rep of CLASFON, I engaged with the Bar, the Bench, Civil Society and Government at all levels, all over Nigeria and overseas. I was very active in the Lagos Branch of the NBA as well, the NBA Executive at the time under the chairmanship of Mr. Dabiri co-opted me into the vacant position of the 2nd Assistant Secretary of the Branch, and after his tenure, I contested unopposed for the post of 1st Assistant Secretary of the Branch under the chairmanship of the Late Mr. Akin Akinbote. In 2003, I was invited by Advocates International, an American based Legal Organisation in the USA, four months into my visit in the USA; travelling to over 8 states attending and speaking at various legal gatherings, I was offered a job as Advocates International’s Staff Counsel and Africa Liaison. For the next 6 years, I would travel to over 30 Countries on 4 continents. I resigned and came home in 2009, to commit the rest of my passion and career to helping indigenes. Have you had any challenges in your career as a Lawyer, and if so, what were
Police Force is unfortunately, the reflection of the general state of our thinking and attitude towards each other in this country. We need to wake up in this country, and fight for ourselves and for others, otherwise our children will have nothing to stand on. What was your worst day as a Lawyer? That’s hard to say, because I am not really a doomsday kind of person. I believe that everything happens for a reason, but let me just say that worst days for me, are days I cannot get justice for someone who needs it
Bayo Akinlade
the main challenges? Most of my challenges came when I returned to Nigeria, especially when I became the Secretary of the Ikorodu Branch of the Nigerian Bar Association. I was not happy with the policy adopted by our Justice system, because it was flawed in so many ways. It led to delay in justice delivery, corrupt practices were inevitable under such policies and rules; finally the players within the justice sector were very corrupt, including some lawyers and litigants. It was especially challenging, taking on cases and waiting so long for the case to be assigned before a judge. Everywhere you went, someone would ask for a bribe not caring whether or not if such cases were done probono. Interacting however, with the Police, was my biggest challenge even though I am the Legal Adviser of the Lagos State Chapter of the Police Community Relations Committee (PCRC). Our
What was your most memorable experience as a Lawyer? Wow! I have had many; is it when I got to address a meeting of Lawyers in Washington DC in 2003 and found out that the Solicitor General of the United States and a Court of Appeal Judge were at the meeting listening to my speech, or was it meeting Reverend Jessie Jackson in Amsterdam and sharing a few words with him, or hosting 9 Supreme Court Justices from Albania in DC, or interacting with hundreds of lawyers and judges from over 100 countries on a one on one basis over a period of 7 years? I can’t really pick. Who has been the most influential in your life? Three people have been influential in my life, my Mother who taught me how to be humble and respect everyone, no matter their status in life, Prof. Bankole Sodipo, who showed me what kind of lawyer I needed to become, and lastly my late boss, Samuel E. Ericsson the founder of Advocates International, who set me on the path I am now on, which is doing justice with
compassion Why did you become a Lawyer? I became a lawyer to rival my late dad. My dad was the Founder and first Medical Director of Rao Hospital, and one of only three forensic pathologists in the 60s. I wanted to be able to stand up to him, so I thought the only profession that existed apart from the medical profession, was the Legal Profession. So I chose to be a Lawyer. I later found out that there were other professions, but it was too late. What would your advice be to anyone wanting a career in Law? Know why you want it, and what you want to achieve with it. Being a Lawyer is not just about going to Court, there are many areas of specialty in the field of Law. A Lawyer must make his/her mark in a particular area, and also know what area of law he/she wants to be known for. If you had not become a Lawyer, what other career would you have chosen? I would have certainly become a Chef or an Events Planner or both. Where do you see yourself in ten years? I see myself doing exactly what I am doing now, which is helping the less privileged get justice, encouraging the rich to help the poor, serving the interest of justice wherever I go, fighting corruption and all ills robbing our citizens from having a better life, helping people maximise their potentials, using my experience, exposure and family lineage, to promote good governance, and being available to help people whichever way I can
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Ban on Medical Doctors in Public Service from Private Practice This article by Ikenna Okoli and Uche Obiorah, discusses the Federal Government's ban on medical doctors in government employment from engaging in private practice, examining the laws in that regard, and concluding that even though the 2008 Code of Medical Ethics in Nigeria permits such private practice, the 1999 Constitution of the Federal Republic of Nigeria which is the supreme law of the land, does not allow them to engage in any private trade except farming
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t was reported recently, that the Federal Government banned medical doctors in government employment from engaging in private practice. Ever since that announcement, there have been different reactions from different persons and organisations. The Nigerian Medical Association has publicly denounced the decision, whilst some doctors have been reported to have called it a time bomb waiting to explode. We shall look at the decision of the Federal Government in the light of the position of the law, to ascertain whether or not the Federal Government was right in its pronouncement. The right of medical doctors in government employment to engage in private practice in Nigeria will be considered in relation to the provisions of different laws and the Constitution as discussed under the following sub-headings. Regulated and Other Professions (Private Practice Prohibition) Act 1984 The repealed Section 1 of the Regulated and Other Professions (Private Practice Prohibition) Act 1984, prohibited public officers which included medical doctors in government employment, from engaging in private practice. Regulated and Other Professions (Private Practice Prohibition) (Medicine and Dentistry Exemption) Order 1992 Section 1 (1) of the Regulated and Other Professions (Private Practice Prohibition) (Medicine and Dentistry Exemption) Order of 1992 ("Medical Doctors Exemption Order") made pursuant to Section 1 (5) of the Regulated and Other Professions (Private Practice Prohibition) Act provides that: “The professions of medicine and dentistry are by this Order exempted from the provisions of the Regulated and Other Professions (Private Practice Prohibition) Act.” Though the above provision of the Medical Doctors Exemption Order appears to be inelegantly worded, the true effect was to allow medical doctors in full time government employment to engage in private
Health Minister, Professor Isaac Adewole
medical practice. Constitution of the Federal Republic of Nigeria (Certain Consequential Repeals) Act 1999 The Regulated and Other Professions (Private Practice Prohibition) Act 1984 (and consequently Medical Doctors Exemption Order) was repealed by the Constitution of the Federal Republic of Nigeria (Certain Consequential Repeals) Act 1999, which came into force on 29th May, 1999. Constitution of the Federal Republic of Nigeria 1999 Under the 5th Schedule to the Constitution of the Federal Republic of Nigeria 1999 as amended, medical doctors who are in public service are only permitted to engage in farming and nothing else. For more clarity, Item 2, Part 1, 5th Schedule to the Constitution of the Federal Republic of Nigeria 1999, provides: “Without prejudice to the generality of the foregoing paragraph, a public officer
"The effect of this is that, up until the Constitution is amended, medical doctors in full time government employment cannot engage in any private business, profession or trade, except farming"
shall not (a) receive or be paid the emoluments of any public office at the same time as he receives or is paid emoluments of any other public office; or (b) except where he is not employed on full time basis, engage or participate in the management or running of any private business, profession or trade; but nothing in this subparagraph shall prevent a public officer from engaging in farming." Note that Part I of the 5th Schedule to the Constitution, 1999 provides for the “Code of Conduct for Public Officers", while Part II thereof provides the list of the "Public Officers for the Purposes of the Code of Conduct", which includes (under Item 10 of Part II) as follows: “... and all other persons in the civil service of the Federation or of the State.” And (under Item 15 of Part II) as follows: "All staff of universities, colleges and institutions owned and financed by the Federal or State Government or local government councils" “All persons in the civil service of the Federation or of the State” and "All staff of universities" as used in Items 10 and 15 of Part II, 5th Schedule to the 1999 Constitution respectively, indisputably includes all medical doctors in government employment. It is our humble but firm view that, the expression, “engage or participate in the management or running of any private business, profession or trade”, clearly covers any private medical practice. Invariably when medical doctors in full government employment involve themselves in
private medical practice, they are certainly engaging or participating in the management or running of a private business or profession and are therefore, running foul of the law. It is an established principle of law that, a Schedule to an Act of Parliament is as much an enactment as any other part of such Act. See IBIDAPO v LUFTHANSA AIRLINES (1997) 4 NWLR (Pt. 498) 124 at 162, A -B See also BOARD of CUSTOMS & EXCISE v BARAU (1982) 10 SC 23 at 48, where the Supreme Court per Idigbe, JSC, held that: "---There is no doubt that generally a Schedule is as much a part of the statute, and as much an enactment, as is the section by which it is introduced." There is therefore, no doubt whatsoever that the 5th Schedule to the 1999 Constitution is an integral part of the Constitution, and has the same force as sections 172 and 209 of the Constitution, which provide that every person in the public service of the Federation and the State, shall observe and conform to the code of conduct [provided in the 5th Schedule to the Constitution]. We are not unaware of the 2008 Code of Medical Ethics in Nigeria, made under the Rules of Professional Conduct for Medical and Dental Practitioners. Under Part E, 49; medical practitioners and dental surgeons in full time employment in the public service of Nigeria, are free to engage in private medical or dental practice in their spare time. Clearly, the foregoing rule cannot be valid, in the light of the clear provisions of the Constitution. Conclusion This constitutional provision prohibiting medical doctors in government employment from engaging in private practice, clears any doubt as to the position of medical doctors in the employment of government. The effect of this is that, up until the Constitution is amended, medical doctors in full time government employment cannot engage in any private business, profession or trade, except farming. Medical doctors in full time government employment who are also privately practicing medicine, are doing so illegally. They are prohibited from so doing by the Constitution which is the supreme law of the country. All that the Federal Government has done recently is to restate the law and indicate that the law will be fully enforced. Given the above position, it is rather surprising that doctors and some commentators are berating the Federal Government. If medical doctors feel aggrieved, their option lies in trying to effect a change in the law as it currently stands. Ikenna Okoli, FCIArb., Uche Obiorah, Esq., Legal Practitioners, Lagos
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“Mr. Projects”: Rivers State is Safe and Open for Business Some have said that he came on a rescue mission. His Excellency, Governor Ezenwo Nyesom Wike of Rivers State’s bold strides in less than three years of his administration cannot be ignored, even by his detractors. Last week, the fearless and people-oriented Governor, invited Onikepo Braithwaite to visit to Port Harcourt and experience firsthand, the improvements in the State since the inception of his administration. The Courts have been completely overhauled, over 188 schools have been renovated, Investors are lining up, knocking on the door of Rivers to bring in foreign direct investments, a worldclass football academy in partnership with Real Madrid is in the offing, security is now much improved in a State that was a hotbed of violence a few years ago. The Lawyer-Governor, who was a former Education Minister, also used the opportunity to narrate dispassionately his unfortunate encounter with his predecessor-in-office, that almost caused a security breach a few weeks ago
Rivers State Governor, Nyesom Wike PHOTOS: Kolawole Alli
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our Excellency, the issue of the Local Government controversy in Rivers State seems to be a burning one. Can you tell us the genesis of the problem? We understand the previous administration of Hon Rotimi Amaechi changed the notice required to hold elections from the constitutionally provided 90 days to 14 days, and then purported to hold the elections on May 23, 2015. We also understand that the Federal High Court nullified that election, whilst the National Industrial Court ordered the reinstatement of the Local Government Chairmen. Since then, there seems to be a never ending bevy of litigation. Who is filing these incessant court processes in respect of the same subject-matter? Does this not amount to an abuse of court process? What is the position now? Who is running the Local Governments and when are you going to hold elections? Sometime in 2015, before the expiration of the Rotimi Amaechi administration, his Government through the Rivers State Independent Election Commission (RISEC), gave notice that Local Government elections will be held. The PDP as a party, looked at the notice and noted that RISEC did not comply with the provisions of the Electoral Act with regards to the length of notice and some of the
requirements of the law. We, the PDP, went to court to challenge the holding of that election. That suit was filed at the Federal High Court, Port Harcourt. It was before the then Administrative Chief Judge of the Federal High Court, Port Harcourt, Hon Justice Akanbi Lambo. While the matter was pending before the Court, the Court directed that no party to the suit should do anything that would foist a state of helplessness on the court. He gave an order that the status quo should be maintained, pending the determination of that suit. The Amaechi Government contemptuously disregarded
"We want to allow the processes, and we want the matters to be sorted out at the Apex Court. So, now we have caretaker committees. But we believe that by the grace of God, we’ll have elected chairmen by May next year latest"
the proceedings in Court and the order that the status quo be maintained, and purportedly held what they called Local Government election on May 23, 2015 – five days to the end of the administration. So, we went back to court, to set aside the purported election. The court agreed that, the conduct of the purported election during the pendency of the suit was an affront. The Court set aside the purported election. People thought that the first thing I should I have done when we came on board on May 29 2015, was to dissolve the Local Governments. I said ‘No, I cannot dissolve an elected government, whether it is legal or illegal. Whether it was in compliance with the law or not, let it pass through the normal courts’. So, when the court nullified that election, we then set up Caretaker Committees. Now, the APC candidates who claimed that they won the purported Local Government Council Elections, applied to the Court of Appeal for leave to appeal. We opposed the application, but the Court ruled against us. We then filed an appeal to the Supreme Court, against the Ruling granting the APC candidates leave to appeal. The matter comes up at the Supreme Court in January, 2018. It was therefore, surprising to us, that the APC as a party again applied to the same Court of Appeal for leave to appeal in a matter that is pending at the Supreme Court. They came up again, that there is a different issue. Our lawyers called their attention to the fact that, these are the same parties and
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the same issues have come up again. Of course, they were hell-bent on going on with the matter. So the PDP filed a petition against the Presiding Justice, Gumel. The reason being that, Justice Gumel who was the one that sat over the National Assembly Appeal Panel that nullified all the PDP Senatorial and House of Assembly seats, was now posted here to be the Presiding Justice! Then the way he was conducting the matter, it was obvious that something was wrong. We said ‘No, you should recuse yourself from this matter. There are five other Justices’. Then what we saw was a Special Panel. But, the lawyers also drew their attention to this. However, the matter was adjourned sine die, pending when the Supreme Court will determine the appeal. One week thereafter, another hearing notice came up! Another Special Panel! We asked ‘what is going on?!’ Well, we thank God, the Special Panel said the matter was wrongly placed on the cause list and that they believed so. You can see the impunity that is going on! Today, we are willing to conduct elections. But, because of the appeal at the Supreme Court, we want to obey the Supreme Court. We want to allow the processes, and we want the matters to be sorted out at the Apex Court. So, now we have Caretaker Committees. But we believe that by the grace of God, we hope we will have elected Chairmen by May next year, at the latest. We should have elected chairmen who will superintend over the affairs of the various Local Government Councils. That is the position. Of course, it is APC that is filing all the frivolous processes. I have never seen that type of thing in my life. But that is where we are. Nigerians viewed a video clip of an unfortunate incident that occurred between the convoy of the former Governor of Rivers State, Hon Rotimi Amaechi, and yours a few Saturdays ago. It appears to have further worsened the fragile peace that Rivers State has experienced of recent, and now, the State seems to be on the boil again. What exactly transpired that day? Why does there seem to be so much controversy between PDP and APC in Rivers? How can these political differences be resolved in the interest of your people? People are complaining that politics in Rivers, seems to be a do or die affair between you and the former Governor. Is this true? Certainly, that cannot be true. It all depends on which angle you are looking at it from. First of all, I will not say that what happened last Saturday, has affected the relative peace we are enjoying in Rivers State. There is very much peace and calm in the State. However, people don’t understand that all through my experience in democracy, I have never experienced this type of impunity which I am seeing today. I was going around, inspecting projects, and it rained that day. My vehicle, I think, was the 8th or 10th vehicle in the convoy which was hardly moving. So, I asked ‘what is going on?’ I was told that the outrider had been knocked down by the former Governor, Amaechi. He was driving himself. Because it was a junction, the outrider was in front, and when he gets to a junction, the usual thing is for him to stop all the other vehicles for us to pass. That has been the normal protocol. It was the former Governor who drove himself, and probably felt ‘who the hell is the Governor for him to wait for him to pass?’ So, he used his vehicle and knocked down the outrider. Then the occupants of the other vehicles that were following the outrider, alighted. They didn’t also know that it was him (Amaechi). It was when the outrider stood up from the ground, and approached the vehicle which had tinted glass that he discovered that it was the former Governor, who then drove off. When I got to the scene, Amaechi had already gone. It was the SARS people that I then confronted. Because he had over 50 SARS and military people. So, one of them came out and cocked his gun, and I asked him ‘so what do you intend to do?’ my security agents had to hold him down, and they took his rifle from him. I told them take him to SARS, and I continued with the inspection of the projects. What baffled me was the way the police came out! I have never seen people who cannot even hide their bias. No wonder the Nigeria Police were ranked as the worst in the entire world! There are ways I think you should do things. Even when you are biased, you should do it in a more
"It was the SARS people I then confronted. Because he had over 50 SARS and military people" disciplined way. Since this thing happened on that Saturday, the Commissioner of Police never even called me as the Governor to say ‘this is what I heard’. He never called me as the Governor who gives him all the logistics he requires! It was the Director of SSS who called me and said he heard what happened, and commended the matured way I handled it. He was away in Calabar when the incident occurred. I then called the Commissioner of Police and asked him ‘did you hear what happened? And you didn’t bother you to call your Governor, to find out about his safety?’ By Sunday morning, the Police had issued a statement that what we are saying is not correct. Without investigation! I can't understand! Of course, in their usual way, they will write a fake report and submit it to do whatever they want to do. It happened when they withdrew my security aides. So, I have been shouting to Nigerians, that ‘look, if we are not careful, the Police will derail Nigerian democracy’. That is what is going on. A Commissioner of Police in the State, it didn’t occur to you to call the Governor to say ‘I heard what happened!’ but what he did, was to go and issue statements. That is the situation. On the issue of politics being a do or die affair, it is not a do or die affair for me. People just don’t understand that, when you are out of power, you are out of power! This thinking that ‘oh, I am still there’, should stop. The constitution says four years tenure, subject to another four years, if your people allow you. The moment you are serving your 7th year, you should know that you are on your way out. But, some people want to cling to power. That is why they want to install anybody by all means, so that they can still be presiding over the affairs of the State, through a surrogate. So, for me politics is not a do or die affair. Rather, it is for those who have left office and still believe they are still in charge, that Rivers State is their personal property. They want to direct whatever happens in Rivers State. Why is it not happening in other States? Why?! Have there not been Governors in other States before? But, they believe they have served their own term, and given way. If you want to win election, prepare for the next election. This is a State, where a former Governor will come with a number of military personnel that even the President does not go around with. Who is pursuing who? I, as the Governor, do not even have one military personnel. There are no soldiers in my convoy. I am not interested. But Amaechi comes to the State, and he comes with over 50 SARS, 50 soldiers etc, and people begin to wonder what is going on. Just to tell people that you are still relevant, because you are at the Federal level. For us, politics is not a do or die affair. You must not cling to power by all means. By hook or by crook, they want to get back to power, and people are saying ‘It is not by force. We should be the ones to decide whether you can come back or not’. In any case Amaechi cannot run for another election, as far as Governorship is concerned. Because the law does not allow you to do more than two terms. But, if you want to bring in another person to be Governor, let the person come and talk to the people, that he wants to be Governor of the State. That is where we are. On the part of the PDP, why should they see it as do or die? I was a Minister, and I never did that. The only thing I know is that, whenever I was coming home, the Commissioner of Police would send one patrol Toyota Hilux to meet me. The moment I am led home, that was the end of it. But for Amaechi, from beginning to the end of his visit, it is Military and SARS! What informed Your Excellency’s opinion that the ‘mysterious dollars’ found in Osborne Towers, Lagos belongs to Rivers State?
Have you not seen now? Has the Government come out to say who owns the money? Has Government come out to say ‘this money belongs to so and so person?’ We know because our energy assets were sold for $309m. We know! When we looked at the records, the money was taken from Access Bank to a Bureau de Change. We got our own report, that the money was part of that money. This is where they kept the money. Why is it that, up till now, they have submitted their report, but nobody knows the contents of the report? They have sacked the NIA DG, they have removed Babachir. What does that mean? Did you tell us actually who kept the money? It is not a question of mysterious. We are still convinced. Even the Vice-President, did he invite us to come and substantiate our claims? He never invited us. That is what we are talking about. They know the truth, but if they come out to say it, it will embarrass the Government. All these ones they are sacking, are just sacrificial lambs. That is the truth. Why is Port Harcourt Airport in such a horrible state? Is it an indictment on the previous administration? Because even if you say the airport is under FAAN, and Rivers is a PDP State under an APC Federal Government, the previous administration for most part, was a PDP one under a PDP Federal Government. Why was something not done before and now, under this administration? Well, I do know that the contract for the airport was awarded under the PDP administration, but it was not completed. And part of the campaign against President Jonathan, was that he refused to complete that airport. The leader of that campaign, was the Minister of Transport. So, one expected that one of the first things he should have done for Rivers State as a priority, is to let his Rivers people know that within one year in office as Minister of Transport, this is what I have done. But it has been almost three years, and nothing is happening. It is not only the airport. Is there any federal infrastructure in this State today? Just mention one! Government is not based on whether a State supported you or not. Rivers is an oil producing State, and Nigeria gets its oil from Rivers State. Therefore, I don’t need to support you, but Rivers State is entitled to get development, because, the money comes from here. We pay our taxes. Businesses are done here, and they pay their withholding taxes. So, it is immaterial whether the State voted for you or not. You can see what is happening here. I don’t even want to talk about the roads. Look at the road leading to the Oil and Gas Free Zone. Go and see the road leading to the biggest fertiliser factory in Africa, nothing to write home about. Yet those who are serving the Federal Government, who claim they are from this State, can change the face of the place within one year, but they have done nothing. Next year is an electioneering year, anybody coming to tell you ‘we will turn around and do this and this if you vote for us’. What about 2015, 2016 and 2017? What did you do in those years? So, it is only if they vote for you in 2019 that you can do something? It doesn’t make sense. I went to Imo State during the South-South and South-East Governors Forum Meeting, and I told the Governor ‘but you supported this administration. What happened? There is no road here. At least for your own side, to show your people that I entered this party, because I knew that something good will come from it’. Up till now, nothing. So what will now make the people say ‘let us all go there’? You ought to have shown an example, and let the people believe in you. So, frankly speaking, there is no Federal Government presence in Rivers State. I know they will come with promises, but our people will not listen to those promises. Because those are promises, that will never be fulfilled. The Niger Delta Avengers have threatened to start bombing oil installations. What steps have you taken to douse the tension? You see, first of all, before we had the last crisis and attacks on oil installations, nothing had happened in the State. Because we were very careful, we engaged them and we were talking with them. The Federal Government never one day came up to say ‘Rivers State, we commend you’. For everything
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10/COVER
28.11.2017
“Mr. Projects”: Rivers State is Safe and Open for Business
Continued from page 9
"When we looked at the records, the money was taken from Access Bank to a bureau de change. We got our own report, that the money was part of that money"
that was happening during that period, we never had any attack on oil installations in this State. Never! We were spending huge amounts on logistics and everything. Now, these boys have issued a threat again. But we are engaging them, talking with them and making them understand, that it will not be in the interest of all of us, if they attack oil installations again. We will continue to dialogue with them, and with the Federal Government. That is what we are doing, and that is what we’ll continue to do, and we have succeeded this far. The Federal Government has not involved us. But, we cannot just sit and fold our hands and watch things go bad, because it will affect us and it will affect our revenue. We won't be able to pay salaries, and we won't be able to carry out infrastructural development. I don’t think that it is necessary, and I don’t think any responsible government would give that kind of support. Yes, they have their legitimate grievances, but I think there is a need for us to sit down, and look at the situation generally. Your Excellency, seeing and experiencing the pollution here today in your office firsthand, with the black soot that covered the conference table, what really is happening? What is the Government doing to clean up the environment? You can see that it’s a serious matter. Serious in the sense that you have all the oil majors in this State. Of course, you have the illegal bunkering. There is the destruction of those illegal refineries by security agencies, and there are other environmental factors. I am happy that you have just experienced some of it here. Sometimes, if you remove your slippers and look at your feet, you will ask yourself ‘hey where is this coming from?’ it is as bad as that. What we are trying to do, is to stop those involved in the burning of tires. We have instructed the task force, to go and arrest them. But that may not totally solve the problem, as the problem has to do with oil pollution. That is the major problem. But we have no control over oil refining. It is not within the purview of the State. That is the more reason, why the Federal Government has to come to our State and see what we are talking about. Pollution is not only when you see oil on the waters. No! You can imagine this. You are in your room and you see this black soot. You can imagine what we are going through. The Federal Government should come to our aid, irrespective of the political party that we belong to. But what moves have you made, to bring this issue of pollution before the Federal Government?
There is nothing that we have ever done, that the Federal Government has ever supported! There is no move I have not made. Even on the issue of my police security. Because, everything has been politicised. Development has been politicised. ‘You are not with us. You are not one of those who comes to kneel down before us.’ So they have abandoned our State, but we cannot abandon ourselves. What is the security situation in Rivers as of today? Is it just the detractors that are claiming that the security situation has declined since you assumed office? That kidnapping and armed robbery are back on the rise, as the undesirable elements that terrorised the State before the previous administration assumed office were chased away, but are now back in town. Is there any truth to this allegation? There is certainly no truth to this allegation. We all know that before we came on board, there was so much insecurity in the State. People forget that while they were Governor here, the Chairman of Rivers State Independent Electoral Commission was kidnapped! Such a personality was kidnapped under the last administration. So many prominent people were killed, while that administration was in office. So many things happened here. When we came on board, of course, we faced insecurity. But as we speak, if you go out in the night, see Port Harcourt at night as at today and compare with then. Obviously, businesses were affected, but now businesses have been returning. You can't even get parking space at night. Everywhere people are partying. If there was insecurity, why will people come out at night? Of course, you know one thing about people, once they hear insecurity, nobody will go out. But because the place is now calm, you now see people moving about in the night. People now feel safer! The President of the Full Gospel Businessmen Fellowship of Nigeria came today and said ‘look I came and I can say authoritatively, that this place is calm and quiet’. How many international conferences and workshops, have been hosted here? In fact, Rivers State is going to host the entire West Africa Wrestling Association competition here, in February. So many professional bodies now want to come to Rivers State to hold conferences. Just last week, the Nigerian Institute of Architects held their conference here. It was hosted last year and this year, back to back. The Nigerian Guild of Editors, held their conference here last year and this year, back to back. What does it tell you? A State of insecurity and people are coming here to hold conferences? I can tell you one major insecurity that we have. It is the politicisation of crime. When
you have some people who have committed crimes, and they think that because they belong to a political party, police will not do anything about them. Because those persons seem to be close to somebody in authority. I give you an example, what the Commissioner of Police did. I was away, and a boy was arrested for Indian hemp trafficking and charged to court. The CP wanted to transfer the Divisional Police Officer (DPO), because the person arrested is close to the Minister of Transport. That is what we are seeing. So, if you commit a crime and you are related to that person (Minister of Transport) no, you shouldn’t be charged to court. That is politicisation of crime. If you are in this political party, police can arrest you. If you are in the other political party, police cannot arrest you. That is how far we have gone. Secondly, you have a Commissioner of Police, who is not giving me support the way I am giving them support. I don’t know of any State, which has funded the police and security agencies more than Rivers State. None! They will tell you that Rivers State has been quite supportive, but at the end of the day, everything is politicised. So, I believe you’ll have time to go out tonight, and ask people around how the State is improving. I will not tell you that here, from time to time, we don’t hear of one crime. That is not possible. Even in America, it's not possible. In the western world where they have the best security equipment, crimes happen from to time. Let me tell you this, the crimes that happen in Lagos are underreported. But when it happens in Port Harcourt, it is blown out of proportion. You can imagine where a Diplomat is kidnapped or killed in Port Harcourt, you will think that the whole place has collapsed. That is the situation we find ourselves. They blow things out of proportion, and it becomes political. They want to create something out of this, and tell the world that Port Harcourt is not safe. If it's not safe, how do they drill the oil? Did the military stay with them to drill oil? If they can say it's safe for them to drill oil, why can't they make it safe for the common citizens? Security is not under my control. The CP is not under my control. I can't give them directives on what to do. What problem does your State Government have with the Special Anti-Robbery Squad (SARS)? We understand that SARS was evicted from their Command at the Obio-Akpor International Market. Though the reason given for their eviction is purportedly to carry out renovations on the building, some seem to believe that the real reason is that the relationship between the State Government and SARS
is now strained, due to your accusations of election malpractice against SARS. Let me start with the issue of SARS. I have no personal problem with SARS, as an agency of the police. The problem we have, is that people have ulterior motives. We have seen the role of SARS since we came on board. Let me tell you, the head of SARS is somebody I know very well. He is a police officer who has served in this place for years. In 2015, he was transferred after the election, because of his role. When we started the rerun, they brought him back! I wrote to the Inspector-General of Police and said, ‘this particular police officer, I know him. This man will compromise our security architecture. Send some other person. By putting this man here, except you don’t want to fight insecurity. But if you really want to fight insecurity, we don’t need this type of character here’. Of course, you know how they react to such. That it is not politics. I told the IG that I know this character. In fact, the money we gave him before to refurbish some armoured vehicles, he took them and ran away! Well, the IG said, nobody should tell him who to post and who not to post. But the person they posted to Rivers State, is the person they want to use to rig the election in 2019! They think that all we want, is just to get him out. No. We just want the world to know that we are not the ones causing problems. I told him that we have seen what this man intends to do, and our people will resist it. And in the course of resisting it there may be violence. When violence comes, you can't say this is the one causing the violence. So, why not do the right thing so that there will be no violence? What is our problem? We are talking about the Head, who has compromised that agency for a political purpose. He is not solving the problem of security. Secondly, they were given quit notice, because nobody is comfortable any longer. Why have they not brought out the Report on how they went to rob somebody, and the IG’s own team had to kill one of them? Why are they sweeping it under the carpet? There is nothing you want to tell the IG about SARS, that he will listen, because they have a predetermined mind of what they want to do in 2019. For us, this is no problem. But we have let the world know. We have told the world that, since this is their hit-man for that election, we will not allow him! People are feeling ‘well, you are feeling uncomfortable’. Well, we are feeling uncomfortable, because he is going to cause crisis, and we don’t want crisis in our State. If you say no, you don’t want it, then whatever that comes out, don’t blame our people. As an agency of government, we don’t have any problem with them. But you can imagine what happened during the election, at the collation centre. It was caught on video. The police and the military came out to say he is not their officer, until the video came out. They are deceiving Nigerians and they are telling people stories? The other day, Edo people said they didn't want the CP. Did they not change the CP? They changed the CP, because it's an APC State and he wasn’t working according to what they wanted. So they had to change him. But here we have a SARS Commander, who is not even up to a CP rank, and the IG is finding it difficult to change him. Is that why you evicted them? I did not evict them. The State Government never evicted them. The property is the property of a Local Government. It's not our property. If I had where I gave to SARS, I could take some other action. But I don’t have where I gave to them. All police stations are built by the Federal Government. Where they built the
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28.11.2017 COVER/11 “Mr. Projects”: Rivers State is Safe and Open for Business international market, was not a police station. The Local Government Council built that international market. And then they wanted a Police Post in the market, to regulate the activities of the market. That was the essence of it. So, if the Local Government gave them quit notice, it was probably due to their conduct. Don’t they have the right? If you have a tenant who is embarrassing you, and who is not solving the problem of living in harmony with other good tenants, what do you do? The Chairman of the Local Government has not briefed me. It was the Attorney-General who told me what he read in the papers, and briefed me. But I can tell you that, they have the right to evict them, because it is their property. Mind you, it is not as if the people don’t want security. But when you are no loner serving the interest of the people you are protecting, what do you want them to do? SARS are even involved in taking people’s land. I was just going to ask, because in places like Bayelsa, they have had problems with SARS in the past That is the same thing here! If two people are fighting over land, this other party will go and connive with SARS and sell the land to SARS and they will buy. Then they go and harass the other party. What kind of system is that? If your vehicle is stolen, and they recover the vehicle, they will not call the owner, but they will use it as their official vehicle. These are the kind of things that we find in this place. People are saying its politics: that they came here to rig elections. You rig elections, when you have the people on ground. If you don’t have the people on ground, how do you intend to rig the elections? There will only be violence. You don’t have the people on ground, to make it work, and you will bring the security agencies. They will come with guns and of course, they will kill some people, but some people will resist it. And in resisting it, it might lead to some unpleasant results. People should talk about the attitude of the Head of SARS. It is not that Rivers State people are afraid of SARS. No! We have the capacity to confront them. But these are not the best options. Let the authorities know on time. I am sure the authorities, they are happy that they have a good boy on ground, who at the appropriate time, will try to manipulate the process in 2019. But, we are watching. We will wait and see how it will materialise. What would you say that your Administration has achieved so far, especially in terms of the Legal Sector? What are your goals for the next 2 years? First of all, let me thank God. Sometimes it is not good to roll out all the things you have done. People call me and tell me ‘I live in so and so place. I have seen all things you have done’. And I will say ‘where is that? I didn’t know you live there’. Sometimes someone will call me to thank me and say ‘I live in this place, this school was dead, but now it is alive’. I don’t understand how we behave in this country. People forget. Before we came on board, there was no court sitting anywhere in Rivers State for two years. Why? Because the then Governor, felt that the person who was recommended by the National Judicial Council (NJC) for the office of Chief Judge was not his (Amaechi’s) preferred nominee. It has nothing to do with your preferred nominee. The law is very clear. She was the most senior judge, and should have been appointed. Even if not appointed, she should have been made the Acting Chief Judge. That is what the Constitution says. But, the Rivers State Judicial Service Commission (JSC) sent her name to NJC. NJC did not just wake up one day and take her name. So, because of that, they shut down the Courts. The Magistrate Courts were not working! The High Courts were not working. Imagine a State where there is no court, businesses will collapse and there will be anarchy. So, none at all? Magistrates’ or High Courts? Not one! Nigerians acted as if they didn’t know. But, when we came on board, we didn’t hesitate. We were sworn in on a Friday, and I made my appointment that same day. On Monday, we inaugurated a woman as Acting Chief Judge, and took steps to ensure that NJC confirmed her as the substantive Chief Judge, and she worked and retired.
We didn’t waste time, we went ahead and appointed the most senior judge to succeed her, and she is not from Rivers State. All her career, her service has been here. So, why will I now say she is not from Rivers State and shouldn’t be the CJ? The Judiciary is back on track, which was not the case before. The Judiciary before, was like begging the Executive for everything they want. As we sit today, it is independent. Rivers State is the capital of the South-South. Therefore, we decided that Rivers State, should be the regional hub for the entire South-South, in judicial activities. We went further to look at the Federal High Court. After Lagos, it is Port Harcourt in terms of litigation and commercial activities. We have oil and gas, and you know what that means. But look at that Federal High Court, how can they function effectively? So, we wrote to the Chief Judge of the Federal High Court and said that we are willing to build a new Federal High Court, and to the glory of God we have done that. We have handed the new Federal High Court building over to them. We didn’t have an Industrial Court. In fact, the National Industrial Court was to be in Bayelsa, but 80 % of their cases are from Port Harcourt. So, we wrote to the President of National Industrial Court, and they said if we can, we should go ahead. Today, by the grace of God, we are building the National Industrial Court here, about 5 floors. I believe that by January or February, 2018, it will be completed. Go to the Court of Appeal today. Before now, it was something else. It was a no-go area. But today, we have turned it around. For us, its our happiness that we are making the Judiciary, functional. It’s a different institution. It should be strengthened, not weakened. Today, the Chief Judge of Rivers State can attest to the fact that, the Chief Justice of Nigeria (CJN) came here to flag off the Judge's Quarters. It's not that the judges will retire and go. No. As you retire, it becomes your
Continued from page 10 house. This is to give them hope. These are the things which we are doing, to improve the justice sector. We have set up a Committee, to review all our laws, since this State was created. You can imagine a situation, where we were still using old and archaic laws. It was in our tenure, that we domesticated the Administration of Criminal Justice Act. It was not done by the previous administration. The Child Rights Act, has also been domesticated. So, we have done quite a lot in the legal sector. These are silent achievements that we have recorded in the justice sector, that people will not understand, that helps to move the administration forward. So, as far as the Judiciary is concerned, we can beat our chest to say ‘look, in this area, as an arm of government, we have been able to give them what they deserve’. They don’t beg us for anything, when the allocations come. The CJ can attest to this. Go to the library today. The Court’s library has been computerised. For us, in the next one or two years, we will continue to create infrastructure. We will continue to create services for our people, without relenting. I hardly stay in the office. I am always on the road. For me, you must supervise and monitor projects, and how they are carried out. You can't say you are doing a road, and your Commissioner comes and tells you they are working. It is important that you physically visit the site of ongoing
"But as we speak today, if you time to go out in the night, see Port Harcourt at night as at today and compare with then"
projects. We don’t just say we want to carry out a project, when the funding is not there. We award jobs when we have the political will, and we know that the funding is there. We can't award jobs that will tomorrow turn out to be abandoned projects. Most of the projects today that we have almost completed or that are still on-going, were awarded by the previous administration. We felt ‘look, this is public funds.’ Take for example the Trans Amadi Road, about 20 or so kilometres that the previous administration awarded to Reynolds Construction Company (RCC) for N47b. This was awarded since 2009. Eight years now, it has not been completed. Since we came in, RCC has been collecting N1b from us every month. And to the glory of God, the road will be completed at the end of December, 2017. But when you finish the road tomorrow, they will say ‘oh, we did 90%’. How could you have done 90%, for a road you awarded in 2009 and we are in 2017? Eight years, and we are paying N1b every month. Calculate it, for the past two years, N24b and they said they had done 90%? You have not even done 30%. But, this is where we find ourselves. These are key areas for us. Infrastructure, Health, Education, are all key areas for us. On the 24th of this month, I am going to the Rivers State University of Science and Technology. The Faculty of Environmental Sciences, the building has been there for over 17 years since it was started. When I came in I said ‘No, we cannot allow things to be like this’. I had to release N1b to them. They have now finished the buildings, and they will be commissioned soon. You will be surprised that the Rivers State University, formerly Rivers State University of Science and Technology, does not have a Medical College. So, our children who want to read medicine will be competing with others in Federal Universities. Immediately we came on board, our goal was to establish a medical school, which has been approved. If you go there, the structures are being put in place fast. We have almost completed the Teaching Hospital, with the latest medical facilities. In terms of Education, we don’t just believe in putting up new structures. We came in and met that the former administration did not take their N2.8b counterpart funding to UBEC, in order to access the Federal Government’s N2.8b. As I resumed, I paid that N2.8b, and that has led to the N5.6b which we used in the renovation of 188 primary schools, which have also been furnished. It's not a question of you going to build a school of N4b. What do you need it for? We have so many good old schools, that only require renovation and provision of basic infrastructure. We have seen somebody demolish schools, when you have not even started the new ones. Go all over the place and you’ll see school buildings, all bush! You awarded jobs to build 400 schools, and you finished only 120. Who is going to complete the other 300 schools? How do you award contracts that way? Of course, they were getting money. A lot of money. They were getting over N25b in a month. The highest I have received is N9b. Compare N9b and N25b; they are a far cry away from each other. Look at the foreign exchange rate then and now. I also didn’t tell you about the NBA Building. The NBA was at the High Court building. The Attorney-General said ‘why not talk with NBA, move them out and get a better place for them?’ I want to let you know that we partnered with them, and we worked together. The NBA is now situated in a better ultra-modern building. Yes, Your Excellency. I have visited the NBA Building. Unlike many of our public/ office buildings in Nigeria, I was pleasantly surprised, to see that the Building is also equipped with a functioning elevator which, I of course, made use of. In the next one year, I want to assure you that, God willing, we will complete every project we started. The South South-South, South-East, and even the South-West Governors met recently in Lagos on the major issue of Restructuring or Redistribution. Were you able to come to a consensus? What resolutions did you pass? How did you agree that Nigeria should be should be restructured constitutionally and otherwise? Well, I don’t want to let the cat out of the bag yet. That was our inaugural meeting. The
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12/COVER
28.11.2017
“Mr. Projects”: Rivers State is Safe and Open for Business second meeting will be taking place in Port Harcourt sometime soon, when the Chairman gives a date. But in principle, we believe in restructuring, but I cannot give you details now. We are working out the modalities of that restructuring. What you must understand, is that we are all in one. For instance, the issue of revenue allocation is very clear. For example, some States collect VAT, yet alcohol is not sold in their State. Does it make sense? So, why do you collect what you know is not sold in your area? Look at the VAT that is collected in Lagos and Port Harcourt? Those things are not convenient. Even the percentage of allocation, is not convenient to us. We are talking about true Federalism. Look, all of us from the South- South States, have agreed that we are going for total restructuring; total federalism. We are concerned with fiscal federalism. We are all for it. We will soon take a final position. But that is the direction we are heading. Under the last administration, the Governors’ Forum was vibrant and vocal. But it seems to have lost relevance and lost its voice. Why have Your Excellencies suddenly become silent and dormant under the present dispensation? It all has to do with leadership. With all due respect, the present Governors’ Forum you have, they are all talking about party. They are not talking about the interest of the various States, irrespective of the political party. For example, my security details were withdrawn, and the Governors forum didn’t say anything. It suited them and the party they belong to, because it was to the advantage of their political party. But, that is not the way it ought to be, because it could be your own turn tomorrow. They never spoke out to say ‘you can't do this to a Governor!’ No statement condemning the action was ever issued. Obviously, people will not be committed to the Forum. Everything is not about money. Other crucial issues that affect governance, that affect the States, must be addressed by the Forum. But, because it could affect the interest of their party, they all kept quiet. So what is the essence of the Forum? After all, they were all at that time, challenging Jonathan’s administration. ‘No we can’t accept this, we can't accept that.’ So, what is happening today? It is the leadership. But for me, when I see that things are not moving on well in the right direction, I do not pretend to myself. It tells you that, things are not moving on well in this country. Governors Forum ought to be a check. But, that is not what it is today. As a former Minister of Education, kindly, give us your take on the recent rating of law faculties across the country, where only the University of Lagos Law Faculty has full accreditation. What does this portend for the future of legal education in Nigeria? The education crisis that Kaduna State is facing with its teachers, what is the position with the teachers in Rivers State? Of course, the teachers in Rivers State cannot say they have any problems. When I came on board, the former administration, a week to the end of their tenure, hurriedly employed over 13,000 teachers. Ordinarily, I would have said ‘No, you can't do this’. Even though there were anomalies in the employment, there are ways to go about some of these things. But assuming we overlook that, nothing stopped them from, by way of standards, sending them for training and retraining in batches. Taking this large chunk out of the workforce, can be devastating. Therefore, couldn’t they have done it in a way that it may not be seen to be political? So many factors should have been taken into consideration. When you talk about legal education, the faculties of law that don’t have full accreditation means that you don’t have the required manpower to carry out legal education. Let us face reality. Let's leave sentiments. The truth of the matter is that, so many law faculties ought to be closed down. That is the truth! When I became Governor, I went to the Faculty of Law of the Rivers State University. The Faculty of Law building, which they started since 1979/80, I had put in money to finish that project. Today, they have one of the best auditoriums. I put in an e-library, moot courts and everything. Of course, you talk about lecturers. You know most of the lecturers, are not really up there. For you to lecture in a Law Faculty, at
Continued from page 11
"All of us from the South-South States, have agreed that we are going for total restructuring; total federalism. We are concerned with fiscal federalism. We are all for it" least you must have a Masters Degree. A lot of our people, who have those qualifications, may not have that interest in teaching. That you have LL.M, does not mean you may want to teach. In the UK, when I went on a tour, in one of the technical colleges, we found that you cannot teach in that college even if you are an engineer. What they do is that, ‘yes, you are an engineer, where have you worked?’ so, you don’t have the practical experience. That is a vocational education set up. Even if you have worked, they send you for training in education. To have the education, is a different thing. To impart the knowledge, is a different thing. So, I asked them ‘so, what happens?’ they said they have to go for training for six months, before they are allowed to teach in that school. But here, it is automatic. Here, even when you have a PhD, it doesn’t mean you can lecture. You must have that passion and commitment. If you ask our parents, they will tell you they had the passion. But now, people take up teaching because there are no jobs. So, when they get another job, they leave. That affects the quality. When I was Minister of Education, I went on inspections. What I saw was appalling. No teachers. In fact, I went to a school where one teacher was taking Mathematics from JSS1 to SSS3! They were using School Certificate people as contract staff. If you check the grades of some of those School Certificates, some of them are even pass. So, I made a memo to Mr. President, and said ‘we can't talk about quality of education. You said you have money in UBEC earmarked for education. What is the money doing here?’ So, he approved for the employment of 100,000 teachers. That wasn’t enough, but something was done. Out of those who applied, only a few of them had qualifications in education. So, it means that they applied, because there were no jobs. It means while they were teaching, they would be looking out for other jobs elsewhere. It is that bad. So, we cannot continue to talk about the quality of education, where you don’t have the right manpower, you don’t have the right facilities. If only one law faculty in the entire country has full accreditation, then something is fundamentally wrong. In fact, Rivers State University wrote to me to say they need lecturers and I asked them ‘is it on part- time basis?’ they said no, and I approved. Government should focus on ‘what are the incentives for teachers?’ If the incentives are not there, they won't focus on teaching. When I was Minister, I found many PhD holders with political appointments, and I jokingly asked some of them why they are not in the
Universities lecturing. Everybody wants a political appointment. They prefer to take up appointments in government circles. If we don’t de- emphasise this, it will be a problem. If today, teachers are well paid, it will turn around several things. It is unfortunate. Have you had any problems with Fulani cattlemen in Rivers State? Well, we have had about two instances, where some communities were going to have problems with Fulani people. We tried to intervene quite early, nip it in the bud, so that it won’t escalate. That is why today, you won't see Fulani Herdsmen killing our people. Again, we try to let people know, that we must operate within the law. You see, we are farmers here. We don’t expect that your cow will enter someone’s farm, and begin to destroy the crops. Nobody will take it. I have spoken to them, and luckily we have not had any major crisis. There has been some understanding. Have you made any plans to maybe to have your own Anti- Grazing Law? Let me tell you one thing. People should know their environment. We have been having herdsmen before. Herdsmen don’t go to people’s farms. There are areas where those grasses grow. If you clear a land now, in the next one month, you will see the grasses growing back. Those areas you don’t farm. Maybe they are kept for building or other projects. You will see these cows going there to graze. We have not had any report, where they have destroyed people’s crops. So, I am not particularly considering making any laws, because we don’t have that problem for now. But, maybe, in future. I don’t pray that we have that problem. But if it comes up, we will do whatever is necessary at that given time to quell it. Your Excellency has of recent, been commanding quite a lot of attention on the global scene, delivering lectures and engaging international soccer legends. What is the importance of these engagements and how have they paid off for Rivers State? Let me start with the soccer thing. For me, everything has to do with investment. We are talking about engaging the youths. Part of engaging the youths, is something they should be doing, a profession they should be preparing for. You know football today, is one of the most viable things in terms of foreign earnings. So, we went to Real Madrid to see whether we can partner with them, to bring their academy, to help bring up our youths. Not just football, but to make them grow. That in principle, we have agreed, and
then, in fact, as I am speaking with you, we are expecting a letter from them, so that we can engage. If that happens, it will be a good thing for the country. We want to actualise the potentials of our youths. The award in New York? Speaking frankly, these things encourage you more. In fact, I was not aware of it. It was somebody who saw the advertisement online and brought it to my attention, and said ‘why not apply?’ I said ‘I don’t think we should bother ourselves’. But the pressure became so much. I turned to the Commissioner of Information and Communication, who was then the Commissioner of Housing. So, I said to him ‘finish filling this document online and send it to them’. After a month or thereafter, I got a letter that they have seen what we have done, and that we are doing what we are supposed to do. In the case of Chatham House, they came here to submit a Corruption Index Report. The Attorney-General was with me that day. There were three of them that came, and they said they were also going to Enugu to submit the same Report to the Governor of Enugu State. Thereafter, they invited me to come and speak and I asked them what topic. They said I should choose my topic. I chose a topic and they rejected it and they chose their own topic. “Defining Development in Rivers State and Steps for Sustainable implementation”. They gave us the topic. I didn’t go there to lobby for it. They came here on their own, with a letter inviting me. But, it became an opportunity for people to know Rivers very well. At the event, a former High Commissioner to Nigeria was there, and so many other important people, who may have heard some good and positive things about Rivers State. We also had a meeting with a business group that is talking about businesses, about investors. We have an investment forum with them in January, 2018, to come and talk with investors here. We had a meeting with the Financial Times of London. These are the kind of things we are doing, to sell Rivers State to the outside world. Some of the news they hear, are not correct. So, we need to get them to come here and see things for themselves. Many investors have been sending us letters that they want to come to Rivers State, to come and invest. As I speak with you, I saw it in the papers yesterday where New Telegraph Newspapers are giving me an award as Man of the Year. People are watching what we are doing. From January, 2018, we shall be rolling out infrastructures that will amaze people, and many will ask where we are getting the money. But, it is simply prudence. We are in an opposition party, and the Federal Government is not happy that Rivers State is doing all these good things. But we are doing what we are doing, to give our people the dividends of democracy. No one man can do it alone, without the support of the people around him. I am happy that I have such people. Are there any business incentives in Rivers State? Yes, it is very clear that there are many business incentives in Rivers. One of the incentives is to reduce tax for the investors. We have taken steps to deal with the issue of multiple taxation. We are giving tax holidays. We are also taking steps to make it easier for investors to get land in Rivers State, and reducing documentation processes. The last administration, for eight years, signed only three hundred certificates of occupancy. Now I have signed over 1,200, in less than three years that we have been in office. I have asked the Permanent Secretary, to go and publish the advertisement in newspapers. Why are we doing this? Certificate of Occupancy (C-of-O) is what enables investors to have access to land. If it is difficult for them to have them, it will be difficult for them to also have funds, because of bank collaterals. Before, it used to take over six months for people to obtain C-of-O, but since the inception of my administration, we have reduced it to one month. Before now, thousands of people didn’t pay their ground rent. But now, you can see the rush. For me, these are incentives we are providing. Also, people who want to go into agricultural projects in the State, Government is ready to help with land acquisition. We are removing all hurdles, for people who want to do business in Rivers State. This will create jobs for our youths. Your Excellency, thank you very much.
28.11.2017
THE LIGHTER SIDE/13
LEGAL HUMOUR
We Hold Your Brief TOBI SONIYI Dear Counsel, What should I do, about this challenging situation? My wedding is in September, and I have been going round, trying to get an apartment. The attitude of most landlords I have met, has been very discouraging. They all demand for two years down payment as rent, and I find this quite difficult and all my pleadings, have fallen on deaf ears. My fiancé drew my attention to an article in a newspaper, in which it was mentioned that landlords in Lagos State, are now expected not to collect rent of more than a year in advance. Kindly, shed more light on this. D.E., Oshodi, Lagos. Dear D.E., Since August, 2011, it has become unlawful for any landlord to collect yearly rent in excess of one year advance payment in Lagos State. The provisions in the New Lagos State Tenancy Law enacted on August 5, 2011l, are quite compre-
hensive. Like with most such new legislations, it takes time for all to get acquainted with the law and to comply. There is also the need for the general public, both landlords and intending tenants, to be adequately enlightened on the new law and its provisions. Enforcement is also another aspect of the law, that the relevant authorities need to ensure. However, the law provides at Section 4(3) that ‘It shall be unlawful for a landlord or his agent to demand or receive from a new would-be tenant rent in excess of one (1) year in respect of any premises’. The law further provides at S.4 (5) ‘A person who receives or pays rent in excess of what is prescribed in this section shall be guilty of an offence and shall be liable to a fine of One Hundred Thousand Naira or three months imprisonment.’ This law is often observed in breach, primarily, because of desperate tenants who in search of accommodation, are ready to overlook this.
I broke a mirror the other day. That's seven years bad luck, but my lawyer thinks he can get me five. ••• A man walked into the local Chamber of Commerce of a small town, obviously desperate. Seeing a man at the counter, the stranger asks, "Is there a criminal attorney in town?" To which the man behind the counter immediately quipped, "Yeah, but we can't prove it yet!" ••• Jury: A collection of people banded together for the purpose of deciding which side has hired the better lawyer. ••• What's the difference between a porcupine and two attorneys in a Porsche? The porcupine has its pricks on the outside. ••• What Do You Call A Smiling, Nice Person At A Bar Association Convention? The Caterer. ••• What Do Dinosaurs And Good Lawyers Have In Common? They're both extinct. ••• What Do You Call A Lawyer With An IQ Of 100? Your Honour. ••• What's The Difference Between An Accountant And A Lawyer? Accountants know they're boring. ••• What's The Difference Between A Good Lawyer And A Bad Lawyer? A bad lawyer makes your case drag on for years. A good lawyer makes it last even longer. ••• What's the difference between a Lawyer and a Boxing Referee? A Boxing Referee doesn't get paid more for a longer fight. ••• How does an Attorney sleep? First, he lies on one side, then, he lies on the other.
Appeal Court Upheld MCSN Right to Sue COSON over Copyright Violation Akinwale Akintunde In a unanimous decision, the Appeal Court sitting in Lagos, has upheld the right of the Musical Copyright Society Nigeria (MCSN), to sue for the copyright violation of its repertoire without the approval of the Nigerian Copyright Commission (NCC), because it is an owner, assignee and exclusive licensee. The decision of the appellate court, was as a result
of an appeal filed by the Performing and Mechanical Right Society (PMRS), now known as the Copyright Society Of Nigeria (COSON), against a judgement by the Federal High Court in Suit No. FHC/L/CS 1049/06, in which MCSN and Mechanical Copyright Protection Society had claimed damages against (then PMRS) and Skye Bank PLC for the infringement of the copyright in the work titled "I wish I knew how it would feel to be free", a musical work in respect of which they are
LawPavlion Unveils Judicial Feedback System for Judges Continued from page 5 emanating from the Courts, even at appellate levels as the pronouncements of the Court of Appeal that have been appealed would also be captured in the system", Olugasa said. LawPavilion Managing Director, added that a solution like the AFSJ is the needed incentive to facilitate massive improvement and support for the judiciary, especially from the Executive as results from the AFSJ can serve as a testament to the quality of Judges on the Bench in a particular State. The AFSJ, according to him, could ultimately be used in collating results across States and generate a series of indicators as to areas of improvement in the Judiciary. "For example, at the end of a Legal Year and based on the number of Judgments that are upturned or upheld, the system can generate results which indicate which State of the Federation has successfully secured the upholding of criminal matters or civil matters of a particular nature. "Such results will in turn be very useful for commercial investors who can almost predict the outcomes of disputes that go to court in a particular State. Such data is independent and can subsequently be relied upon by State Governments and the Administrators of the Judiciary to come up with tailored training solutions to adequately equip Judges and Magistrates within their jurisdiction. "With the rich information that can be mined from the AFSJ, it is believed that the rating of the Nigerian Judiciary in international circles will be greatly enhanced as there will
be cold data to indicate how often matters of a certain nature are upheld and this gives a measure of comfort to foreign investors to invest in Nigeria and all sectors that have been significant developed through the pronouncements of the Courts", Olugasa stated. Olugasa was optimistic that having demonstrated the rich possibilities of the AFSJ, the Administrators of the Judiciary at both the States and Federal levels would be at the forefront of procuring this new innovation for the State and Federal High Courts (and even the Magistrate Courts) as this would be an excellent way to assist the National Judicial Council (NJC) in its evaluation of the performance of Judges. He explained that the data gleaned from the AFSJ would be instrumental for the administrators of the Judiciary in profiling suitable candidates for appointment into various levels within the Judiciary. "Such information would guide the Judicial Commissions to source for and equip prospective Judges/Magistrates with skills either in the areas where the State appears to be very strong and exceptional or in areas where the judgments from that State has consistently been upturned and thus in need of some improvement. "Indeed it is a new dawn in the Nigerian judiciary with LawPavilion’s newest innovative solution, which will place Nigerian Judiciary on the global map in an unprecedented style", Olugasa said.
assignee and holder and owner respectively. In a preliminary objection by the PMRS and Skye Bank Plc, they argued that MCSN had no locus standi to sue, because it was not approved by the NCC. However, the Federal High Court thought otherwise when it ruled that, "Because, the Plaintiffs are not a collecting society but have said they are the owner, assignee and exclusive licensee of the copyright, they need not call Section 39 of the Copyright Act to play, and consequently, they cannot be said to have acted illegally by not complying with the provisions of the said sections". Dissatisfied with the decision of the lower court, COSON (the successor-in-title of PMRS), headed to the Appeal Court to challenge the decision vide a Notice of Appeal dated 9th of April, 2009. The appellate court presided over by Justice Mohammed Lawal Garba, Justice Yargata Byenchit Nimpar and Justice Ogochukwu Anthony Ogakwa, in a ruling on October 27, 2017, held that MCSN being an owner, assignee and exclusive licensee, did not need the approval of the Nigerian Copyright Commission before it can enforce its rights under Section 16 of the Copyright Act, which states that, "Subject to this Act, infringement of copyright shall be actionable at the suit of the owner, assignee or exclusive licensee of the copyright, as the case may be, in the Federal High Court exercising jurisdiction in the place where the infringement occurred". The court further finally dismissed the appeal, for lacking in merit. “In the final result, this appeal for lacking in merit, is dismissed accordingly. The Ruling by the trial court assuming jurisdiction over the 2nd and 3rd Respondents' action against the Appeallant and the 1st Respondent, is hereby affirmed. “Costs assessed at Two Hundred Thousand Naira (N200,000.00) are awarded in favour of the 2nd and 3rd Respondents, to be paid by the Appellant for the prosecution of the appeal”, the lead Justice in the appeal, Mohammed Lawal Garba ruled. The other Justices concurred with the lead judgement.
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28.11.2017
Restructuring as a Panacea to Separatist Agitations Chimezie Elemuo discusses the burning issue of agitations for Restructuring in Nigeria, even going down memory lane to the days of late Obafemi Awolowo and Ken Saro Wiwa. He also draws comparisons with the late Nelson Mandela and the South African situation, concluding that the solution to the agitations in our country, remains a political, and not a legal solution
I
Introduction n recent times, we have witnessed some pockets of violence in the South-East resulting from the clashes between security men and the indigenous people of Biafra (IPOB) over the latter’s agitation for the restoration of the sovereign State of Biafra. The Federal Government has declared in no ambiguous terms, that the unity of Nigeria is not negotiable. In other words, on no account would the government watch the breaking up of Nigeria into sovereign entities. The posture of this government is at variance with the position of the Goodluck Jonathan’s government. Goodluck Jonathan said that Nigeria would not break up under his watch, while this government says that Nigeria will never break up. Possibly, the government does not know that it is to forestall the inevitability of breaking up, that the call for restructuring the country is being hammered on by generality of Nigerians. In order to quell the agitation for the Biafran State, the government declared war on IPOB and went to the extreme of labelling it a terrorist organisation. The Operation Python Dance declared on the South-East, is nothing but an occupation force. Why Agitations Everywhere? It is only a deaf and blind man who would not know that the political structure of Nigeria is lopsided. From the North down to the South-West and farther down to the East, the cry of marginalisation is hitting the rooftop. Only government pretends otherwise. The notion is that, the North is against political restructuring of the country. This may not be politically correct. The average Northerner, is socked with marginalisation and injustice as the man on the streets of the South-East. It is the failure of political leadership in the North, that bred what is known as Boko Haram today. This systematic failure has been on for years, and since the victims lack the basic educational ability to challenge their leaders, this systematic failure went on unnoticed until the bubble burst. Those of us in the South saw this and drew everyone’s attention to it, but because we were only crying more than the bereaved, the Northern oligarchy ignored us. Perhaps, government is not well informed that Boko Haram, is the direct result of the political and economic marginalisation of the average Northerner. IPOB, MASSOB, MOSOP and others, are the direct result of the political brutalisation of their sections of the country. They are just means of expressing the agony been meted out to their people. The late Ken Saro Wiwa wrote in his detention diary ‘ a month and a day’ that “ watching Nigeria literally go down the drain through the incompetence, and banditry of the ruling military and civilian politicians, I became stronger in my conviction that the only thing that could save Nigeria was the political restructuring of the country... something else had to be done to bring the urgency of the matter home”. The something else which had to be done to bring the message home, was MOSOP which he formed, and today more groups have sprung up in every section of the country crying over political marginalisation and economic slavery. IPOB falls within this group. Government must heed the call for restructuring, if indeed it is sincere on holding Nigeria
IPOB protesters
together. In a central-fugal entity like Nigeria, where we all come from different origins, coupled with the lack of leadership at the top, agitations must be seen as part of the movement for political and economic consciousness and emancipation of the people. In this wise, government should not take every genuine agitation as a threat to the sovereignty of the country. Government must accept agitations in this wise, as the right of the people. Agitation: A Component of Free Government Freedom of expression is a component part of democracy. Using force against individuals to quell their convictions, will deal a disastrous blow to the rule of law and reduce our democracy to nothingness. The true test of a free government, can be found on how many dissenting voices it allows. It is wrong to use force to discourage ideas, as that type of attitude and action will only breed repression which will eventually manacle even a stable government. In AKINYANJU v UNIVERSITY OF ILORIN (2011) All FWLR (pt. 569) 1080 at 1151, the Court of Appeal held that “ talking of radicalism and the voice of dissent as exhibited by the
appellant, every nation needs the rebellious spirits and free lips of the Nnamdi Azikiwes, Obafemi Awolowos, Nelson Mandelas, Soyinkas, Fawehinmis, Fela Anikulapo-Kutis, Bala Usmans, Adaka Boros, Ken Saro Wiwas (‘the Nnamdi Kanus’), to constantly remind rulers of their responsibilities, and to save the system from avoidable cataclysm. It took the rare courage and selfless efforts, even at the risk of their lives, for our nationalists mentioned, to secure freedom from our colonial masters for Nigeria and South Africa”. Don’t forget that Nelson Mandela was charged for terrorism, and was imprisoned for 27 years. He came out of prison a hero and an icon for modern Africa. He became a model, which African leaders lacked the will to follow. Nigeria as a country, needs more Nnamdi Kanus to constantly drive home the urgency in all aspects of our national life. In a democracy, Government is answerable to the people, and genuine agitations and criticisms, are avenues of reminding Government of its responsibility towards the people. Again in IGP v ANPP (2007)18 NWLR(pt.1066) 457 at 498- 499 the Court of Appeal held that “democracy admits of dissent, protest and demonstrations.
"The Biafran agitation, is a political issue which solution lies in the agitation for restructuring. I must warn that it is not a legal issue, as such agitations have not been resolved legally. Though Nelson Mandela and Obafemi Awolowo went to prison after legal proceedings, the issues leading to their convictions and sentences, were eventually resolved politically"
True democracy ensures that these are done responsibly and peacefully”. In my soon to be published book, I wrote that “government must understand and accept the legitimacy of challenges to its authority and wisdom. It must accept the sensitivity of the people towards government actions and policies. It must also understand that in a plural society like ours, there are diversity of opinions and convictions. These are essential elements in a democracy.” It follows therefore, that hunting and hounding Nnamdi Kanu and others like him, will only expose the Government to hatred, which will fuel the agitations further. In a true democracy, Government must welcome agitations, so long violence is not part of it. The present upheaval in our society, cannot be quelled by employing military hardware. The solution is in public discussion. Justice Brandeis of the United States Supreme Court said in WHITNEY v CALIFORNIA 274 US 357 AT PP. 375-376 that “those who won our independence believed that public discussion is a political duty; and that this should be a fundamental principle of the government. They knew that order cannot be secured merely through fear of punishment for its infraction, that it is hazardous to discourage thought, hope and imagination; that the part of safety lies in the opportunity to discuss freely supposed grievances and proposed remedies”. In other words, force cannot achieve peace. Conclusion The Biafran agitation, is a political issue which solution lies in the agitation for restructuring. I must warn that it is not a legal issue, as such agitations have not been resolved legally. Though Nelson Mandela and Obafemi Awolowo went to prison after legal proceedings, the issues leading to their convictions and sentences, were eventually resolved politically. Government must understand that political issues require political solutions. I rest my case. Chimezie Elemuo, Legal Practitioner, Port Harcourt, Rivers State
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Moving Past Worn Rhetoric: Why CJN Needs to Declare ‘State of Emergency’ in the Judiciary This Article by Joseph Otteh and Dr. Adenike Aiyedun, is calling for a declaration of a 'State of Emergency' in the Nigerian Judiciary. It discusses extensively, the need for Judicial Reform, with their nine-point agenda to implement the required reforms
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Overhaul Nigeria's Judiciary t 57, Nigeria’s Judiciary ought to have been a stable, strong and vibrant branch of government. But it is arguably not at this time, and a once proud institution now lives in the shadows of its past as it struggles to save a remnant of its tortured legacy. This must be time for sober reflection. But our Chief Justice, Walter Onnoghen, has assured us that the Judiciary will live up to expectation and promises, and it will no longer be business as usual. Our fear, however, and we say this respectfully, is that that language is all too familiar, but more than that, that the actions we have seen so far, are too little, and the time being spent to incubate more changes, are too “business as usual”, to deliver the results we need. We think that more can be done and should be done, to overhaul Nigeria’s Judiciary and make it serve Nigeria in ways that meet public expectations of a truly independent institution, that is confident of the integrity of its members, as well as enjoys the confidence of the people it serves. Time is of the Essence Nigerians want to see more judicial reforms, executed with more speed and more urgency; we need more traction and more resoluteness, applied to the fight to transform the delivery of justice in Nigeria. We are constrained to worry that the current speed and pace of reforms, is not strong and vibrant enough and not creating the kind of momentum and impetus Nigerians are eager to see, neither is it galvanising change across the landscape, or demanding change from every constituent part of the Judiciary. Undoubtedly, the Chief Justice of Nigeria has a zeal to reform the Judiciary, but stakeholders in the justice system are not feeling the impact just yet. The Judiciary does not have the luxury of time, to enable it stretch a reforms plan over the course of many years, and for an institution in distress, it ought not take too much time either for far-reaching changes to be delivered. We can look at other African countries to see how their own Judiciaries were revived, and particularly look to Kenya whose Judiciary was the object of much ridicule before 2011. After Chief Justice Willy Mutunga took over as Chief Justice in 2011, he embarked on a far- reaching programme of action to reform the Judiciary; Chief Justice Mutunga did not achieve all his reforms in one day, but he hit the ground running, and succeeded in overhauling a once- maligned institution into a respectable voice of the rule of law and a strong pillar of democracy in Kenya now. Only recently, the Kenyan Supreme Court annulled the just concluded elections and ordered an immediate re-run, as a testament that things are no longer the same in Kenya. It is time to acknowledge that the delivery of justice services in Nigeria
Chief Justice of Nigeria, Hon. Justice Walter Onnoghen
is in dire straits, and nothing short of radical “tremors” can revive it back to health. We therefore, urge the Chief Justice of Nigeria to declare a state of emergency in the Nigerian Judiciary now! This will provide a rallying urgency to the change we passionately want now, not later. There are a number of reforms that may take some time to implement and produce an impact, but there are also others that do not need a long time to berth; they can, and should indeed be initiated now, and where that is done, they can change the dynamics on the ground in remarkable ways. For example, Court delays, at both trial and appellate levels, are not inevitable, and human factors (more than the inherent features of trial dockets), contribute to the prolongation of trials in our courts. There are steps that can address these causes of delays immediately, and we have outlined some below. It behoves the Judiciary, therefore, and we urge the Chief Justice of Nigeria and the National Judicial Council (NJC), to adopt a three phase reform plan that will include programmes to be implemented in the short, medium and the long terms. A Nine-Point Agenda for Reforms We urge the Judiciary to do the following immediately: Reducing Court Delays 1.The NJC, should end arbitrary court closures NOW. Many Judges often leave their primary adjudicative assignments, to attend non- adjudicative, ceremonial functions, as it happened in the Federal High Court a few days ago when its Judges left their courts to attend the valedictory ceremony of the out-gone Chief Judge of the Court, Justice Ibrahim Auta. These “no-shows” have huge costs implications on everyone – litigants, lawyers and witnesses (some of whom may have travelled long distances to be in court). They also cause terrible delays in the hearing of cases, thereby creating frustrations for many court users, congestion of dockets, while they diminish public confidence in the administration of justice. Alternative schedules, can be found for non- adjudicatory functions. 2. End the practice of transferring Judges from one jurisdiction to another, before their
cases are concluded. Judge transfers take a huge toll on the time for completing cases, and entail many cases starting afresh even where they may have been pending in court for many years, and are nearing completion. 3. Judges’ vacation time should also be reviewed. The Chief Justice said Chief Judges of States, have been directed to create special anti- corruption courts. But if Judges of these courts have to be away for about 3 months each year, not counting other “no-show” days, we may not see the expected changes in the time taken to conclude corruption cases. Judges handling anti- corruption cases should not go on extended, court wide holidays as other Judges, but arrange their own individual vacation schedules. There are countries that already do this. This will give a ring of urgency to the anti-corruption struggle, and the role of courts in that achieving that goal. To Combat Corruption and Strengthen Judicial Integrity, Transparency and Accountability 4. The NJC’s Judicial Discipline Regulations 2014 should be reviewed and strengthened now, to enable the Judiciary better fight corruption. The review should enable the NJC, act on anonymous complaints, protect whistle-blowers, collaborate with official anti-corruption agencies, to investigate allegations of corruption and reduce the overbearing evidentiary burdens placed on complainants of corruption, among other reforms. 5. The complaints systems of all courts - lower courts and superior courts - should be effective, robust and dependable. Corruption is a problem in lower courts nationwide, but many States do not have a credible or effective system for fighting corruption in their jurisdictions. The NJC should immediately direct heads of courts in State and Federal jurisdictions, to establish effective disciplinary regulations or guidelines applicable to lower court “Judges” and court staff, and get engaged more robustly in efforts to stamp out corruption from lower courts. 6. Develop a financial disclosure reporting system - used in some jurisdictions where all extrajudicial payments to Judges are self-reported, and Judges submit periodic financial disclosure reports.
"The NJC, should end arbitrary court closures NOW. Many Judges often leave their primary adjudicative assignments, to attend non-adjudicative, ceremonial functions, as it happened in the Federal High Court a few days ago when its Judges left their courts to attend the valedictory ceremony of the outgone Chief Judge of the Court, Justice Ibrahim Auta. These “no-shows” have huge costs implications on everyone – litigants, lawyers and witnesses..."
Institutional Reforms 7. The NJC has, on occasion, looked away when the judicial appointment guidelines it made were flouted and sidelined. The Judicial Appointment Guidelines of 2014, were intended to strengthen the procedures for appointing Judges, and ensure that we recruit judges from the top drawer. Both the NJC as well as States and Federal Judiciaries, have flouted the letters and spirit of the Guidelines since they were made. The NJC must henceforth, stick to its own rules and not aid their subversion, as well as insist that judicial appointments to lower courts ensure that the best stock is selected, and that States develop judicial appointment guidelines that are transparent, competitive and merit-based. (This duty should be imposed on Chief Judges, as part of their administrative responsibilities of heading courts for which they are accountable to the NJC, while measures to ensure compliance are put in place). We must adopt a bottom-up approach, which requires appointing the best qualified people regardless of ethnicity, language and creed, as well as encourage broader public participation in the screening process of Superior Court Judges. 8. The Judiciary Needs to Build Consensus Around a Vision Statement: The Judiciary should bring stakeholders together, to develop a strategic reforms framework and plan, Now. The plan will represent the Judiciary’s vision of how justice services should be restructured in States and Federal jurisdictions, from this time onward. The strategic plan will thereafter, form the fulcrum of our march forward. The implementation of that Strategic Plan, would be benchmarked against clear indices that will be used to measure progress. The Hon. Chief Justice, should create a mechanism to drive the realisation of that vision, and develop principles and measures of accountability across State and Federal lines. This is how a number of Judiciaries around the world, including some African judiciaries - Kenya, Uganda, Malawi, Rwanda, Tanzania, Swaziland and South Africa - have propelled their judiciaries, to deliver change. 9. Finally, to restore public confidence in the Nigerian Judiciary, reforms must target all courts and their leadership administration/management. The NJC, should use its constitutional powers to make broad policy to integrate States into a nationwide programme of justice reform, as well as provide the inspiration for the buy-ins of States. Conclusion We agree with the Chief Justice of Nigeria, that things should no longer be ‘business as usual’ within the Judiciary, but think that a lot more can and should be done now, to enable Nigerians see and feel that business no longer thrives as usual in our courts. We may be losing time and momentum, in not seizing this opportunity to drive significant changes through. The time to act is now. Joseph Otteh and Dr. Adenike Aiyedun, Directors, Access to Justice
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SENATE RANGER!
T H I S D AY ˾ TUESDAY, NOVEMBER 28, 2017
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TUESDAYSPORTS
Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com
New Two-year Contract for Rohr NFF launches short code to drive Russia 2018 campaigns Nigeria Football Federation (NFF) President, Amaju Pinnick, announced yesterday that Super Eagles Technical Adviser, Gernot Rohr, has been given a new contract till 2020 after he guided Nigeria to next year’s World Cup in Russia. Pinnick announced Rohr’s new deal at the launching of a short code - *1945# - which will be used for all campaigns at the 2018 FIFA World Cup finals in Russia. He also disclosed the coach has been paid his salaries till December 2017. Rohr, 64, signed an initial two-year deal in July 2016 with the provision of an extension if he qualified the country to Russia 2018. The Franco-German coach has been widely credited with the country’s qualification from ‘The Group of Death’, which had African champions Cameroon, Algeria and Zambia. Skipper John Mikel Obi praised Rohr’s attention to details, saying he has transformed the Eagles using a fine blend of young, exciting players and experienced campaigners. Meanwhile, the short code - *1945# - will be used for all campaigns that are geared towards Nigeria’s preparation and participation at the 2018 FIFA World Cup finals in Russia. The event was organised in conjunction with Secure and Trusted Alliance Services Limited – STA Mobile. NFF 2nd Vice President/LMC Chairman Shehu Dikko, who is also Chairman of Marketing, Sponsorship and Television Advisory Committee, disclosed that the short code would be available for use by all NFF
partners, sponsors and suppliers, in the process also revealing an ‘Official Supporter’ programme into which corporate concerns not presently in relationship with the NFF can lodge to be part of Nigeria’s 2018 FIFA World Cup excitement train. In explaining the idea behind the short code, STA’s Managing Director, Biodun Jagun, and a clutch of NFF’s current partners, including AITEO Group, Zenith Bank and TGI Group said the plan is for a total of 100 fans of the Super Eagles to win all-expenses paid trip to the 2018 FIFA World Cup finals, in four tranches of 25 people-a-month between January and April 2018. “The Naija 4 Russia initiative is born in due season as a feel-good factor for the Super Eagles of Nigeria, which is at its highest-ever in the recent history of Nigerian Football. For the first time in the history of football in Nigeria, we have a VAS platform for the fans and supporters of Nigerian Football by way of a short code Earlier, Pinnick had revealed that failure to qualify for two straight AFCONS was what pushed the Super Eagles to qualify for next year’s World Cup. Nigeria failed to qualify for the 2015 and 2017 AFCONS and Pinnick said that spurred the NFF to ensure the country did not miss out on the World Cup in Russia. “We knew we were condemned to qualify, and everybody worked hard for it,” he said. “We identified the areas that needed extra effort and also knew
Akinwunmi Confirms 11 Teams for S’west Pre-season Tourney The Chairman, South West Football forum, Seyi Akinwunmi yesterday announced 3rd-8th of December as the date of the annual zonalPre-season football event with 11 clubs set to jostle for honor at the tournament. Akinwunmi who also doubles as the Vice President of Nigeria Football Federation (NFF), said the competition will serve as a platform for the clubs playing in the league to assess their teams. ‘’ The regional tournament could serve as an appraisal for the team on their preparedness for the new season. That is, the tournament is aimed at
giving the clubs campaigning in the league a veritable platform to assess their team before the commencement of the league,’’ he said He also said that the regional championships will provide a synergy for football developmental programmes among the south west clubs. ‘’It is also an avenue for the discovery of young players in the South West Zone,’’ he remarked. Some of participating teams are MFM FC of Lagos, Sunshine Stars of Akure, Remo Stars, Crown FC of Ogbomosho, Spartan FC of Lagos.
2017/18 Cricket C’ttee League Gets Underway The 2017/2018 Cricket Season has kicked off with the commencement of the Division 2 League as Ibadan Metro Cricket Club take on Pioneers Cricket Club at the Ansar-ud-deen College, Isolo pitch. The Division 1 League will kick off in December with games hosted at the TBS Cricket Oval, Lagos. There are six and 10 teams in Division 1 and 2 respectively. It is the first time there has been as many as 16 teams in the CCC
league, a testament to the growth of the game in Lagos. Division 1 teams are Ibeju Lekki CC, Government College Ibadan (GCI) Old Boys Cricket Club CC), FGC Warri CC, Lagos Asians CC, Rising Stars CC and Rocks CC; Division 2 will be contested by Pioneers CC, Ibadan Metropolitan CC, Foundation CC, Stallions CC, Igbobi College Old Boys CC, Cricket Lovers CC, 1004 Stars CC, Ibeju Lekki 2 CC, Government College Ugheli OB CC and St Gregory’s College OB CC.
that we needed to get a top–notch coach as well as be relevant in the game’s boardroom internationally. “We scored bull’s eye in both areas and these helped us greatly in the campaign.”
He again restated his belief the Eagles fly high at Russia 2018. “I want to also commend the players and the technical crew and backroom staff,” he saluted.
“They aligned with the vision of the board and the secretariat and I have immense confidence that Nigeria can really dazzle the world at the World Cup in Russia next year.”
NFF also revealed that it was targeting the sum of N2 billion from corporate organisations to support the Super Eagles’ preparation and participation at the World Cup.
Super Eagles players celebrate coach Gernot Rohr for piloting the team to a glorious World Cup qualifying campaign
2017 CAF Top Awards for Eagles, Coach, Oshoala Femi Solaja The National football team of Nigeria, Super Eagles of Nigeria and its coach, Gernot Rohr and Falcons of Nigeria forward, Asisat Oshoala are some of the prominent names of personalities listed by the Confederation of African Football (CAF), in other categories of awards for the forth coming AITEO CAF Awards that will come up next year in Accra, Ghana. The list completes the sets of categories after the initial list for the main awards, ‘African Footballer of the Year’ in which Nigerian Victor Moses with
compete alongside Gabon’s Pierre-Emerick Aubameyang, who won in 2015, features along with a host of Europe-based stars, such as Sadio Mane of Senegal who came third in 2016. Turkey-based Troost-Ekong and Junior Ajayi, of Egyptian side, Al Alhy as the only nominees for the African Footballer of the Year Award and African Player of the Year Based in Africa award respectively and was released early this month. The other categories include Women’s Player of the Year, National Team of the Year (Men & Women), Youth Player of the
Year, Coach of the Year, Club of the Year and Referee of the Year. In the list of Coach of the Year category, Super Eagles coach Gernot Rohr, Hector Cuper who piloted Egypt to the World Cup, Hugo Broos of Cameroon, L’Hussein Amoutta (Wydad Athletic Club) and Minayo Kazembe of TP Mazembe of Congo Democratic Republic complete the list. Nigeria’s Osuala is among the list in the Women’s Player of the Year category which also include Chrestina Kgatlana (South Africa & UWC Ladies), Gabrielle Aboudi Onguene(Cameroon & Rossyanka) Rutendo Makore (Zimbabwe & Black Rhinos) and
Tabitha Chawinga (Malawi & Kvarnsvedens) Nigeria will compete alongside Cameroon, Egypt, Mali U-17 and Zambia U-20 for the National Team of the Year category. The winners according to CAF, will be decided by votes from the members of the CAF Technical & Development Committee, CAF Media Experts Panel and Independent Media and TV Consultants. Meanwhile, only members of the CAF Referees’ Committee will elect the Referee of the Year. The Awards Gala will take place on Thursday, 4 January 2018 in Accra, Ghana.
Gov Wike Lauds Dalung on Sports Devt Rivers State Governor, Nyesom Ezenwo Wike has lauded the Minister of Sports, Hon. Solomon Dalung for his commitment to the development of a united Nigeria, irrespective of party affiliation. Speaking during a courtesy visit by the Minister of Sports at the Government House Port Harcourt yesterday, Governor Wike said the Minister of Sports has shown uncommon courage in allowing Rivers State to host the national wrestling championship and the African Wrestling Championship in 2018.
He said: “If we have Ministers like you, nobody will be talking about political parties. People like you work well for Mr President. People like you are the ones Mr President needs to move the country forward. “What you have done for Rivers State is not what money can buy. You have by this action introduced a positive for Rivers State. You are telling the world that Rivers State is peaceful and a place to invest.” Governor Wike also praised the President of the Nigerian
Wrestling Federation, Daniel Igali for his decision to promote the hosting of the championship in Rivers State. In his remarks, Minister of Sports, Hon Solomon Dalung said that wrestling is traditional to Nigeria; hence the country will continue to excel in the sport. He commended Governor Wike for his investments in the development of Sports, noting that the facilities put in place for the competition are world class. The minister said that over 700 athletes, 300 officials, 24
states and 12 Wrestling Clubs are participating in the Governor Wike National Wrestling Championship. He said while most states have neglected sports, Rivers State Governor is promoting sports, thereby enhancing social cohesion. The sports minister later unveiled the mascot and logo for the African Wrestling Championship during the opening ceremony of the National Wrestling championship, which was declared open by Governor Wike.
Rush for Medals Begins a 26th Quadrangular Games It was a busy day for competitors yesterday at the ongoing 26th Quadrangular Games holding Ikoyi Club 1938 in Lagos. The Quadrangular games, is a yearly event is rotated among four clubs, Ikoyi Club 1938, Lagos Lawn Tennis Club, The Apapa Club and Lagos Country Club Ikeja. After a colourful opening ceremony on Sunday, action
began in the table tennis event with players of the four clubs trying to out smart one another, particularly in the team event as well as the men singles. The women singles provided a delightful moment for spectators who came from varous parts of Lagos. There was action in the lawn tennis men single and veteran events yesterday night, same for snooker event. Action resume
today at 6pm with medallists expected to emeremerge A member of the organising committee Yomi Ogundipe explained that the purpose of the games is for members to be see themselves as member of one family. He said: “It is not hosting to win but fellowship through sports.” The 2017 edition of the quadrangular games is
featuring 10 events namely; snooker, Billiards and Pool, table tennis, lawn tennis, badminton, squash, swimming, soccer, chess, scrabble and Ayo. The competition which will end on December 2nd isfeaturing over 250 competitors with 50 athletes representing each of the four clubs. The last edtion of the Games eas hosted by Lagos Country club Ikeja.
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T H I S D AY TUESDAY NOVEMBER 28, 2017
10
T H I S D AY TUESDAY NOVEMBER 28, 2017
years ago!
Chief Sunday Bolorunduro
Awoniyi 30th April 1932 - 28th November, 2007
your life was a blessing and your memory a treasure. you are loved beyond words and missed beyond measure. a life that touches others, lives on forever. continue to rest in the bosom of the lord. fondly remembered by:
H.E. Abayomi Awoniyi (lisa of mopa) for the family
there will be a memorial service on 3rd December 2017 at first baptist church ileteju mopa, kogi state. reception follows immediately.
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Tuesday November 28, 2017
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& RE A S O
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Price: N250
MISSILE Atiku to APC “I am unable to reconcile myself with the dismal performance of the party in government, especially in relation to the continued polarisation of our people along ethnic and religious lines, which is threatening our unity more than any other time in the recent past and the unbearable hardship that our people are currently undergoing.” Former Vice President Atiku Abubakar lambasting the All Progressives Congress (APC) led administration for its failed promises to Nigerians in his letter of resignation from the party.
TUESDAY WITH REUBENABATI abati1990@gmail.com
Atiku, Atikulation and Other Stories
“I
hear say Atiku don port oh, from APC to God knows where…” “He used to be a Customs officer. Going from one port to another should not be an issue or a problem for him. It is in the nature of Customs officials to go from one port to another. When they train Customs officials, they train them to just disappear to nowhere when the storm is tough and rough. That is the reason why every Customs official is a prostitute… serving or retired. I know some of them. They are always disappearing and appearing. After oil and gas, customs is the other honey pot of Nigeria. My brother, if you taste a little of that honey pot, your tongue will come out. You will always want to taste more.” “But Alhaji Atiku Abubakar is not a neophyte to the game. He has been Vice President to Ebora Obasanjo for eight years. And since 2007, he has been eyeing that office of President. He attempted to run in 2007, he ran in 2011, he ran again in 2015. There must be something in that Aso Rock that he is looking for.” “Or something he kept there that he needs to go back and remove.” “There is nothing wrong with a man seeking to rule his country, though.” “Yes, that is why Alhaji Abubakar has been projecting himself as a man under pressure running from pillar to post, behaving like the only thing in his life is to become President.” “To be President no be joke oh. The man don taste the thing small, na him know wetin the thing be?” “But God has blessed him. He has a University. God has given a mere Customs officer the opportunity to educate Nigerian children. Even Boko Haram survivors are now being educated in his university and the Federal Government is paying him lorry loads of money as scholarship. Must he be President?” “Yes. If dem give you suya for one hand, carry champagne for another hand, which one you go take?” “Champagne, my brother.” “Or when you see useless people, Oga’s domestic servants and imbecilic erukus washing hands with champagne that their first to fifth generations never tasted, what will you do?” “I swear I will step into the ring and fight.” “Good. Atiku wants to take over. Him too wan wan taste champagne. The champagne of Nigeria.” “But he doesn’t’ even know where he is going.” “He knows. Talks are going on. For him to leave the APC, he must have worked out his next destination.” “Which is?” “I hear PDP” “PDP? PDP is in trouble. I don’t think PDP can remove Buhari from power”. “I have seen pictures of Atiku’s PDP campaign vehicles. It looks like he is going to get the PDP Presidential ticket” “How?” “He has money. PDP right now needs somebody with cool cash who can challenge the APC, and fight them money for money.” “And Atiku has that war chest?” “He can mobilize it.” “The PDP Governors won’t allow him” “Who are those ones? There is no Governor in PDP today who wants to spend money. Those Araldites? If a roadside beggar gives them money, they will collect. PDP Governors are so hungry they will be so glad to collect tithes. If Atiku gives them money, they will jump like frogs, and hand over the Presidential ticket to him.” “But why should Nigerian politicians jump from one party to the other.” “Hunger and greed. Can’t you see that there is no
B Nigerian politician who is interested in ideology or ideas? They all just want position and power.” “I can see that. Atiku for example has jumped from PDP to AC to PDP, to APC and from APC to, well, we don’t know where next until he says so…” “It is called Atikulation.” “It looks like the jump of the frog to me” “Frog?. This looks like the jump of the elephant. Atiku’s move is a metaphor for Nigerian politics. It is a sign that something terrible has happened to the ruling party.” “I hear the ruling party says Atiku’s move is predictable and so it is a non-event.” “Who said so? Garba Shehu?” “No” “You mean Garba Shehu has not spoken? He has not responded to Alhaji Atiku Abubakar’s Atiukulation, especially Atiku’s submission that the APC government is a joke and a scam?” “I checked. Somebody told me that Garba Shehu is treating an ear problem at the moment, and em ..em, that he is part of a team looking at the mysterious movement of the rats in the President’s office to the Council Chambers forcing the President to relocate the Federal Executive Council meeting to the First Lady’s Conference Room.” “I don’t believe that. The Garba Shehu I know would have issued a statement calling Atiku a fool for criticizing Buhari and dumping the APC” “You sef. You don forget? Garba Shehu is Atiku’s boy. He used to be Atiku’s chief spokesperson. He used to lead the assault against Obasanjo and Jonathan before he was donated to Buhari. You want him to bite his master?” “He should do his job. We are talking about loyalty. Let him do his job or make a choice.” “He too should port?” “He can do whatever he likes, but at least whenever he condemns the opposition again, he should know that he is attacking the Atiku finger that fed him” “This is why I don’t ever want to work for government. Too tough. But you are talking about Garba Shehu. What is Mama Taraba still doing in the Buhari government? The moment Alhaji Atiku Abubakar Atikulated his position and wrote off the Buhari government, I expected Mama Taraba to resign immediately, having publicly declared that she is a loyal follower of Alhaji Atiku Abubakar.” “Mama Taraba” “Baba Buhari should sack her and all Atiku loyalists in the government.” “You don’t know anything. You don’t know politics. Don’t be surprised if Baba keeps Atiku’s followers in his government” “Enemies in his government”
“You don’t know politics. In fact, President Buhari could decide to make Mama Taraba his Minister of Petroleum Resources. And Garba Shehu the Minister of Information and Atiku will know that he is just making noise.” “Gi-di-gibe. Power-pass-power. But the Mama Taraba that I know will get angry and resign ” “You think so?” Yes. If she doesn’t resign, I trust Ibe Kachikwu to issue a statement to say that this is the very height of corruption and chicanery” “It is okay. Chika is an Igbo name.” “Atiku’s Atikulation is it. And stop saying the man has been moving from one political party to the other. Even the sitting President jumped from one party to the other, election after election before he could become President.” “What a country! Politics of expediency; no ideolpgy. No party system. Anything goes” “If you Atikulate it properly, everything will be fine.” “I am sorry for you. I hope you are aware that articulated vehicles only bring problems. In Apapa. In Abuja-Lokoja road. Everywhere, they are causing problems.” “Those are vehicles. Here, we are talking about a mission to save Nigeria.” “And who will do that?” “Atiku has stepped forward” “What of Baba Bubu?” “He has not told anybody he wants a second term. From what I see, he may opt for the Mandela option” “Mandela, Mandela. Is Buhari from South Africa?” “He is from Katsina.” “And you want him to be like Mandela? Have you started drinking?” “It is in his interest not to seek a second term” “If you keep talking like this, when they carry you and lock you up, I swear I will not bother to visit you in detention. This government has no problem with freedom of speech. It is your freedom after speech that cannot be guaranteed.” “I will say what I like” “That is not a problem. But just think of the fact that your wife is still very young. The way this thing is going, some people will not seen sunshine until after 2019.” “Because I want a properly Atikulated country?” “Because you don’t understand Nigerian politics. Have you not heard that even former Vice President Atiku has been asked to go to Abeokuta and beg the boss of bosses, the Ebora himself, Baba of Nigeria, Olusegun Obasanjo, if he wants to even get a party ticket not to talk of becoming President. OBJ Nigeria. No OBJ, No Nigeria. Baba Ooosa! Eruku nation. Ebora Tuaale!. Tuaale!” “What is wrong with you? Who is Obasanjo? We are running a democracy. We should be talking about institutions not individuals.” “Tu u danu. This is Nigerian democracy. It is the democracy of Godfathers. If some people don’t say yes in this democracy, even God will not say yes.” “That is sad.” “What I am telling you is that nobody can be President or displace Buhari without the approval of some entrenched powers and principalities in this country. Nigerian politics is not about democracy. We have not reached that stage. It is about power. Why do you think Senator Musiliu Obanikoro will cross from PDP to APC, and he will publicly say that Asiwaju Bola Tinubu is the best thing ever created since the invention of toothpaste?” “I was flabbergasted to hear that” “I was shocked” “Don’t be shocked. That is the nature of Nigerian politics. But the truth is that Godfathers have feet of clay. In Anambra, in the last Gubernatorial elections, Willie Obiano demystified his own Godfather, Peter Obi
and the man has been very, very quiet since then. He demystified those who went and borrowed Alex Ekwueme’s daughter, I mean the PDP, and the APC that went and borrowed Ojukwu’s son. Any Godfather that wants to survive should know what he is doing. Nobody should play God over Nigerian politics.” “The way I see it, the man who will be President may not even have shown up. There is a game that is unfolding.” “A coalition against Buhari?” “A powerful force preaching change, more like it, brewed in the North, with a pan-Nigerian outlook. A mission to save Nigeria.” “I don’t get it” “The next revolution to save Nigeria will come from the North. I can feel it.” “Can we talk about something else? You know I am not a revolutionary.” “Everything in life is a revolution. You can be Grace-fied today and be Mugabe-fied tomorrow. The Other room can be joyful today and bring you sorrow tomorrow.” “Talking about the other room, I hear Baba now uses Mummy’s conference room in the Villa to hold Federal Executive Meetings” “I don’t talk about mundane meetings. The entire Presidential Villa belongs to the President. He can holding meetings wherever he likes.” “May be rats took over the Cabinet Chamber. “ “Leave these government people. What is on my mind right now is how some people held a wedding party in Benin, and they gave out cars and I-phones as gifts and I was not there.” “Gifts to the bride or to people who came to chop jollof rice?” “Jollof rice people. Two persons carry car go, others collet phone”. “In this Buhari recession and poverty season?” “Yes” “EFCC and SSS dey the wedding?” “Na jollof rice for everybody. I hear say the woman sef na second-hand Tokunbo wey don born thro-way for another man and the groom sef don marry tire. Yee-yyyy.” “Don’t worry. We have to be smart. Anytime we hear anybody wan do society wedding, we go dey ready go there.” “Without invitation? Even Bobrisky no fit gate-crash. I surprise say dem no invite am.” “We will apply the Ebuka strategy” “And what is that?’’ “Simple. You make sure you dress better than the bridegroom. When you get to the gate, nobody will stop you. They will think the owner of the game has arrived. And if you are a woman, you dress better than the bride. It is the Caroline Danjuma butterfly effect. You may not understand this gist because you are too old.” “Iro nla. I know every gist, including the latest on Toke Makinwa. Nobody go use social media chop life on my behalf. You may not know, that Ebuka style is no longer working, I hear there is now a wedding police in Lagos. If you dress better than the bridegroom and the bride, the security people will not even allow you to enter. Better to dress like Smartkarts so you can help collect empty bottles later.” “Agba a ya ni wo man yi. Na children gist you dey follow like this?” “I go South Africa? For Mrs Etomi wedding where dem spend Nigerian money in South African economy? That one na another gist oh?” “Mrs Wellington, please” “Or I go Oritse wedding?” “Stop. Just Stop….”
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