Ovia: Emefiele is Nigeria’s Best CBN Governor Ever Ejiofor Alike The Chairman of Zenith Bank Plc, Mr. Jim Ovia has described the University of Nigeria, Nsukka (UNN) as a training ground for capable and committed change agents, saying
this was evident in the quality and capacity of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, an alumni of the institution, whom he described as the "best CBN governor in the history of Nigeria".
While Ovia did not give reasons, many market analysts believe Emefiele's skill at reversing the free fall of the Naira from N525/$ to stability at N360/$, a 30% gain within one year may have earned him accolades as have
CBN's imports substitution programme which has seen the fall of rice import by 90% in less than two years under aegis of the anchor borrower's programme. Ovia who made the remark in his acceptance speech on
the occasion of an award of an honorary Degree of Doctor of Business Administration (DBA) (Honoris Causa) by the university to him at its 47th convocation ceremony at the weekend, said he had witnessed firsthand the quality
of a product of UNN in the person of Emefiele. He stated that it was when Emefiele was the chief executive officer and group managing director of Continued on page 9
Terror Attack Alert: FG Assures of Adequate Security Measures in Abuja… Page 10 Monday 4 December, 2017 Vol 22. No 8264. Price: N250
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Atiku Rejoins PDP, No Automatic Ticket for Him, Says Makarfi PDP, Ekweremadu welcome his return He sounds like a broken record, declares APC PDP chairmanship post not for sale, warns Babangida Iyobosa Uwugiaren and Onyebuchi Ezigbo in Abuja Former Vice President Atiku Abubakar has finally ended
the waiting game and rejoined the opposition Peoples Democratic Party (PDP), after quitting the ruling All Progressives Congress (APC)
more than a week ago. The former vice-president made the announcement on Facebook where he also fielded questions from Nigerians.
He said the complaints he had with the PDP before he left the party under which he was vice-president from 1999-2007, had been resolved,
thus laying the groundwork for his return. But even as the former vice-president announced his return to the PDP, the
Chairman of the National Caretaker Committee of the party, Senator Ahmed Makarfi, Continued on page 9
How Oando’s Forensic Audit May Have Cost Gwarzo His Job Finance ministry denies allegation, says audit to go ahead Accuses Gwarzo of carting away documents, unearths 2014 petition Appoints Zubair acting SEC boss A T H I S D AY I N V E S T I G AT I O N Goddy Egene and Obinna Chima The suspension of the DirectorGeneral (DG) of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo by the Minister of Finance, Mrs Kemi Adeosun last week has been linked to the forensic audit into the financial affairs of Oando Plc, which SEC under Gwarzo commenced two months ago.
A letter exclusively obtained by THISDAY confirming this, showed that Adeosun had in a meeting with the SEC boss on Monday, November 27, 2017, verbally instructed Gwarzo to discontinue the Oando probe, which he apparently objected to. To buttress his objection, he wrote a letter to Adeosun the next day (Tuesday, November Continued on page 8
CBN Injects $14.2bn into FX Market in Nine Months… Page 10
L-R: Wife of President of the Senate, Mrs. Toyin Saraki; Senate President Abubakar Bukola Saraki; and President Ernest Bai Koroma of Sierra Leone, during the wedding of the Sierra Leonean president’s daughter, held in Freetown, Sierra Leone… weekend
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PAGE EIGHT HOW OANDO'S FORENSIC AUDIT MAY HAVE COST GWARZO HIS JOB 28, 2017) where he highlighted the implications of discontinuing with the probe not just to the Nigerian economy, but the signal it would send to foreign investors. Oando Plc, a Nigerian energy firm with interests in the electricity and oil and gas sectors, has a dual listing on the Nigerian and Johannesburg Stock Exchanges. In the said letter, Gwarzo while counselling against the discontinuation of the audit, appealed to the minister to put her instruction in writing in her capacity as chairman of the board of SEC. He said this was necessary for documentation purpose and for ease of implementing her directive. But instead of putting her instructions in writing, the finance minister who must have been incensed by Gwarzo’s letter, instead suspended him the nex day – exactly 48 hours after their meeting and 24 hours after being in receipt of his letter. In the statement from the finance ministry last Wednesday, the ministry had stated that Gwarzo was suspended over allegations of financial impropriety bordering on the payment of N104 million to himself when he retired as an executive commissioner of SEC in 2015, against the counsel of the former acting head of the commission’s legal department, Mr. Chukwuogor Frana. The ministry added that his suspension was to enable an administrative panel of inquiry (API) investigate and determine the culpability of the DG. Gwarzo, in his capacity as SEC DG, was also accused of awarding contracts to his company Medusa Investment Company and to companies linked to his wife and cronies. Also suspended were two management staff of the commission – Mr. Abdulsalam Naif Habu, Head of Media Division and Mrs. Anastasia Omozele Braimoh, Head of Legal Department – who were alleged to have engaged in financial impropriety in the commission. But in reaction to the suspicion that Adeosun had suspended Gwarzo over the Oando probe, while using the allegation of financial impropriety against him as a cover for her action, the Ministry of Finance yesterday dismissed the notion that the suspension had anything to do with his meeting with Adeosun when she instructed him to discontinue the Oando forensic audit, despite the letter pointing to the contrary. A source in the ministry who preferred not to be named said the allegations of financial impropriety against Gwarzo had been pending since October and that he should have been suspended since November 7, adding that he was also asked to step aside because there were allegations that he was carting away documents from SEC to cover up the allegations against him. In the letter titled, “Investigation of Oando Plc” which was received by the Office of the Minister of Finance on Novermber 28 at 1.27 p.m. (as indicted by the ackowledgement stamp) Gwarzo had said: “Pursuant to our meeting on the above subject held on Monday, November 27, 2017, I am compelled to advice you ma, on the implication of the verbal directive issued to me in which you stated that the SEC should discontinue the forensic audit on Oando Plc and hold a tripartite meeting with Legal Officers of the Commission, Oando Plc and the Federal Ministry of Finance, with the purpose of coming up with penalties which would be issued to top officials of Oando Plc in their
personal capacity for payment. “Honourable Minister, it is important to stress that an action such as that proposed above would definitely put to question the independence and integrity of the Commission, while also completely eroding the confidence of both local and international investors in the Nigerian capital market. “Furthermore, as you may be aware, the activities around the investigation of Oando Plc are being closely monitored by the local and global investment community and they eagerly expect the outcome of the exercise. “It is therefore not in the best interest of our recovering economy that the forensic audit is not seen to be conducted in an independent and transparent manner proposed by the Commission.” Furthermore, he stated: “It would interest you to note ma, that the Commission has in the last three years embarked on firm enforcement actions against some so called ‘top capital market stakeholders’ in the Nigerian capital market. “Remarkably, these actions have sent strong signals to the entire capital market community and have led to an 87 per cent reduction of infractions in the market within the period. “One major infraction alleged against Oando Plc is financial mismanagement. Honourable Minister, given that the consequent effect of such allegation is being borne by the over 274,000 shareholders of Oando, it is only proper that a process which would reveal the status of this allegation to ascertain its veracity or otherwise be embarked upon in a transparent manner. “This in my opinion would put to rest the question of how the shareholders' funds of the company have been managed by the persons appointed to do so for the shareholders.” Continuing, he added: “The Commission therefore as the apex regulator of the Nigerian capital market, has the responsibility to ensure that a thorough, independent and transparent process is put in place to unravel the true financial status of the company.” “Honourable Minister ma, may I restate that it is in the best interest of the Nigerian capital market and our recovering economy for the forensic audit of Oando Plc to be carried out, as reneging on same at this time would result in the following: r 3JEJDVMF UIF SFHVMBUPST BOE project it to the global investment community as inefficient and lacking of integrity. r $PNQMFUFMZ FSPEF JOWFTUPST confidence in the market r 4FOE UIF XSPOH TJHOBM UP BMM market participants both locally and globally. r %JTDPVSBHF GPSFJHO JOWFTUPST GSPN investing in our jurisdiction, and r 1PSUSBZ UIF BCTFODF PG independence of the regulators. “The Commission in Section 13 (cc) of the Investments and Securities Act 2007, is mandated to advise the Honourable Minister of Finance on all matters relating to the securities industry. “Thus, this advice proffered is as a result of our obligation to properly guide you on the best approach to take on capital market issues and it is strongly our recommendation that it should be adopted. “Honourable Minister, my request to seek for a written directive is not in any way meant to disrespect your person, but stems from the basis that every decision or directive of the Board to the management of the Commission are always documented to enable ease of implementing such directive.
“Given your current capacity as the Board of the Commission. It is only proper that you be guided on the necessary procedure to adopt.” A source conversant with the meeting last Monday between Adeosun and Gwarzo, which had the permanent secretary of the ministry, Dr. Mahmud Isa Dutse in attendance and was later joined by the director in charge of the legal department in the ministry Mr. Gariel, also informed THISDAY that after the SEC DG asked the minister to put her instruction in writing on the discontinuation of the audit things turned nasty. “The minister then without mincing words reminded him that there were petitions bordering on financial impropriety and that he should have been suspended a long time ago. “She also insisted that a committee be set up comprising the legal officers of the ministry, SEC and Oando to agree on the penalties to imposed on the officials of the company. “Gwarzo, however, refused, telling her that there were implications of doing so and that the commission does not take decisions based on recommendations of committees but is guided by its Investment and Securities Act (ISA) and capital market regulations formulated by SEC. “He also reminded her that the reason the forensice audit had to go ahead stemmed from the fact that the court had vacated the interim injunction stopping the audit and ordering SEC and the NSE to lift the technical suspension placed on Oando’s shares,” the source revealed. He also disclosed that the allegations of financial impropriety against Gwarzo first came to light in January and he had responded to all of them accordingly, adding that officials of SEC had repeatedly visited the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to respond to the allegations. The source said Gwarzo had even sent a memo to the Minister of Finanace in October, absolving himself of financial impropriety and award of contracts to his company but got no response from Adeosun on the issue until his sudden suspension last Wednesday. He maintained that Gwarzo had issued clarifications on the severance pay because it was backed by the provisions of ISA. “Gwarzo was appointed an executive commissioner on January 2, 2013 and his letter of appointment made it expressly clear that his appointment was for four years. “To assume the position, he was duly screened and confirmed by the Senate. So, by the time he was again appointed the comission’s DG on May 20, 2015 by former President Goodluck Jonathan, he again had to go through the same Senate confirmation for the new apointment. “His letter of appointment as SEC DG stated that his position was for five years, which means it was a fresh appointment and by extension signified his retirement as an executive commissioner or SEC. “So, when he was paid the N104 million as severance package, it was in compliance of the provisions of ISA, as he had retired as an executive commissioner and was appointed in a new role as the SEC DG. “This situation does not just apply in SEC but also the Central Bank of Nigeria, where a director was appointed as deputy governor but was paid her severance package after she was appointed deputy governor, because the second appointment
was political, tenured and requires Senate confirmation as opposed to that of a director who only retires upon attaining the age of 60 years or must have spent 35 years in the service,” the source explained. When contacted on the issue, Adeosun did not respond to calls or text messages from THISDAY, however, an official of the ministry said Gwarzo’s suspension had nothing to do with his counsel that the Oando forensic audit must go ahead. He explained that the minister took the action to suspend him purely due to the allegations of financial impropriety levelled against Gwarzo and mounting concerns that he was using the Oando issue as a smokescreen to prevent a probe into his stewardship as the DG of SEC. The official also revealed that the reason Adeosun had instructed Gwarzo to discontinue the Oando audit had more to do with the fact that the management of the oil company had admitted wrongdoing in the charges against them, so she felt there was no need to continue the audit and had recommended that they be penalised. He went on to suggest that Gwarzo had written the memo to Adesoun on the Oando meeting after his suspension. But when he was reminded that it was written before his suspension and a stamp from the Office of the Minister of Finace showed that it was received on November 28 while Gwarzo was suspended the next day, he changed tune stating that Adeosun was not in Abuja on November 28 and might not have seen the memo. “That Gwarzo was suspended because of the Oando matter is not true. The minister that day informed him that Oando had made an approach and had pleaded guity to the charges against its management. They wanted to settle, they wanted a plea bargain of sorts. “So, she instructed that since the management of Oando had admitted that it was guilty of the charges, she saw no reason for the audit to continue and instructed that a committee be set up to recommend penalties that will be imposed on the managers of the company in their personal capacities. “But Gwarzo refused and insisted that the audit must go ahead, to which she informed him that he was using Oando as a ruse to divert attention from the allegations of financial impropriety against him. “Admittedly, the meeting was not pleasant but there were also concerns that Gwarzo had started to remove incriminating documents against him from the commission, which was what prompted the minister to suspend him and set up the administrative panel of inquiry to probe his culpability,” the official volunteered. Surprisingly, the official added that despite Adeosun’s objection to the forensic audit on Oando, it will now go ahead as planned, saying that the SEC will address all the issues on Gwarzo and the Oando audit at a press briefing today in Abuja. Following Gwarzo’s suspension, the finance ministry official also said his ministry has received more petitions alleging abuse of office by Gwarzo. When THISDAY read the petition addressed to Adeosun, which was written by a firm of lawyers on behalf their client, it made reference to a court case that was instituted against Gwarzo and SEC over a N30 billion bond issued by the Gombe State Government when Ms. Aruma Oteh was the DG of SEC. In the petition by Legal Option Solicitors dated November 30, 2017
and signed by Benneth Eke, the firm had in a petition on behalf of its client, Gombe Good Governance Group, said it was seeking to stop the approval of the second tranche of the N10 billion from the N30 billion bond by the Gombe State Government. Legal Options Solicitors alleged that the approval of the debt raising programme by Gwarzo despite a lawsuit, was not only serious assault on the integrity of the court, but also fettered the rights of a citizen to access the court. It stated: “There was also a pending application for interlocutory injunction seeking to restrain SEC (the second defendant in the said suit) from approving the bond pending the determination of the substantive suit and same was fixed for hearing before the court on the 24th of March, 2015. “The originating process in the suit and the pending motion of notice for interlocutory injunction were served on all the defendants on the 20th of October 2014. After the service of the court processes on the defendants, we heard of surreptitious moves by the immediate past Director General of SEC (Aruma Oteh) to fasten and conclude the process of approval before the date fixed by the court so as to foist a state of helplessness on the court. “The then DG of SEC (Aruma Oteh) mindful of the illegality of the intended administrative action taken on the matter vis-à-vis the pendency motion in court, refrained from granting the approval deciding (rightly) to await the determination of the matter by the court. “Sadly sir, Mr. Munir Gwarzo upon assumption of office as acting DG of SEC proceeded to grant the said approval to the Gombe State Government in flagrant disregard to the pending suit in court and in abuse of his office. “This act of Mr. Munir Gwarzo, who had only acted then for less than one month foisted a state of helplessness on the court as it rendered the outcome of the motion on notice nugatory thereby ridiculing the courts. “His action was clearly contemptuous of the court and an assault on the rule of law. The grave effect of this action of Mr. Munir Gwarzo is that it portrayed the SEC as an irresponsible government agency including in lawlessness with no regard for judicial process. “The perception is antithetical to the tenets and spirit of democracy and not acceptable in the comity of nations as it sends a wrong signal to the international community and foreign investors. “The granting of the said approval by Mr. Munir Gwarzo was not only a serious assault on the integrity of the court, but also fetters the rights of a citizen to access the court which is not acceptable in a civilised society as ours. “It is needless stating that the approval was illegal, null and has no validity in law as it created a situation of anarchy and lawlessness. “This act clearly fertilises corruption as it was used to stultify due process and accountability in governance, thereby denying the populace the right to know how the finances of their state are expended. “We therefore urge you to institute a detailed investigation to mete out appropriate sanctions so as to restore the dignity as well as investors’ confidence in the system.” Meanwhile, the federal government yesterday announced the appointment of Dr. Abdul Zubair as the acting DG of the SEC with immediate effect.
Zubair’s appointment followed the suspension of Gwarzo to allow for an unhindered investigation of several allegations of financial impropriety levelled against him. Before the appointment, the acting DG was the director in charge of external relations in the commission. The commission, in a statement assured the investing public and all stakeholders, local and international, of its commitment to ensuring an uninterrupted and orderly operation of the market and the regulation thereof. “Accordingly, the commission is poised to continue to ensure the stability of the Nigerian capital market and sustain the all-time high level of investor confidence, as recent developments will not be allowed to disrupt the regulatory effectiveness and efficiency of the commission as the statutory regulator of the capital market and by extension, the smooth running of the market. “While the commission patiently awaits the outcome of the assignment of the Administrative Panel of Inquiry set up by the Honourable Minister of Finance, at no point will management allow the operational independence of the commission to be compromised. “This is strictly in line with the objectives and principles of securities regulations as set out by the International Organisation of Securities Commissions (IOSCO), to which Nigeria is a signatory,” SEC said in the statement. The acting DG is an alumnus of Ahmadu Bello University (ABU), Zaria where he obtained a B.Sc. Economics, MBA, M.Sc. and PhD Business Administration degrees. He also holds a PGD (Mathematics & Computer Science) and PGD (Education) from other universities. He has over 25 years cognate experience in the financial industry and the academia. His career transverses the private and public sector and the academia. Prior to joining SEC Nigeria, Zubair served on the board of Intercity Bank Plc and Nigeria and Minna Pharmaceutical and Surgical Company Ltd. He was also the Group Managing Director, Niger State Trust Fund and NST Finance Ltd. He is a fellow of the Institute of Corporate Administrators and Marketing Academy of Nigeria, a member of the Institute of Management Consultants, a certified commodity broker and a certified member of Pension Institute of Nigeria. He has attended several local and international courses at middle, executive and top management levels. He is married with children and has been contributing to academic journals worldwide.
TOP GAINERS NGN NGN LAWUNION 0.06 0.70 FORTE 2.29 45.99 CCNN 0.47 9.87 SEVEN-UP 4.62 97.12 CADBURY 0.61 12.94 TOP LOSERS NGN NGN C & I LEASING 0.07 1.34 NEIMETH 0.03 0.58 LINKAGE 0.03 0.62 LEARNAFRICA 0.04 0.93 UNIPRESS 0.10 2.39 HPE Nestle Nig Plc ₦1,315.00 Volume: 11.770 million shares Value: N 21.384 billion Deals: 5,152 As at 30/11/17
% 9.3 6.4 5.0 4.9 4.9 % 4.9 4.9 4.6 4.1 4.0
˾ MONDAY, DECEMBER 4, 2017
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PAGE NINE OVIA: EMEFIELE IS NIGERIA'S BEST CBN GOVERNOR EVER Zenith Bank Plc between July 2010 and May 2014 that the bank witnessed exponential growth and phenomenal profitability. Ovia also attributed Emefiele’s performance and current results at the central bank to what he described as the excellent training he received at UNN. He noted that UNN was a centre of excellence that has produced
industrious individuals in the private and public sectors of this country, adding that in his role at the helm of Zenith Bank, he had the privilege of meeting several other alumni of the university. “The ‘Lion’ appears as a symbol of strength on the university banner. In reality and particularly in the corporate steeplechase, the lions have always devoured their
prey and beaten their competitors to the game. I’m always lucky to be on their side,” Ovia said. Ovia congratulated the graduands and their sacrifices, saying that the sleepless nights had finally paid off and urged them to be good ambassadors of the university. “However, you should know that it is not over yet. The long
hours you spent studying in and outside the classrooms; the early mornings and the late nights you endured, and all the hard work that culminated into today’s success story are all a preparation for the life you are about to embark on. “Be good ambassadors of this great institution wherever you find yourself and continue to display
those positive attributes that saw you through,” Ovia said. He commended the parents and guardians of the graduands for the sacrifices undertaken to support their education. Ovia also lauded the efforts of the university’s teaching and non-teaching staff, for the efforts put towards realising this achievement.
He charged the graduands to reflect on the fact that all of them have been saddled with the responsibility of holding up the reputation of the institution. According to him, all of them have a “responsibility that will be guided by the mindset to seek truth, teach truth and preserve truth while endeavoring to restore the dignity of man”.
monetisation of the convention that is likely to dictate who emerges as the national chairman of the party, warning that the PDP is not for sale. “In the last few days, I get frightened by the monetary consideration that is likely to dictate who emerges as the national chairman of our great party, rather than what the people truly want,” Babangida stated in a press statement issued yesterday through his media adviser Prince Kassim Afegbua. “The discussion is more on the side of heavy monetization of the process and ultimate procurement of the position of the chairman by the highest bidder. This approach, in my humble view, defeats the whole essence of participation, free choice and voting which are the essential attributes of any democracy without inducement and outright manipulation.” The former military leader pleaded with the leaders of the party to tread on the path of caution and common sense, conscious of the recent history of avoidable political crises in the party. He added that at 76, and given the benefit of hindsight, his role both in context and content, was now more of an advisory one to enhance any altruistic democratic process to elect credible leadership at various levels of representation. He warned that monetising of the process and trying to “procure” party positions would defeat merit, offend good conscience and blur fair play, adding that de-monetising the electoral process to provide ample room for more citizens’ participation was what is required. “At this critical stage of our political secretions, we need men of stature, discipline, character and commendable conduct to breathe fresh air into our party and not persons whose political relevance is the product of naira and kobo bargain across the counter. “We need a national chairman that would not bend to the vagaries of individual selfish interest but one who is strong enough to apply the rule of law without fear or favour. “We must begin the process of interrogating processes that lead to outcomes and not just the outcomes. We must interrogate our leadership recruitment process and encourage our delegates to exercise the power of their thumbs in making their preferred choice among the candidates,” he further stated. Continuing, he added: “A good name cannot be bought with gold or silver. A good name is the sum total of the individual’s conduct in his trajectory and his overall assessment through life’s enduring journey. “On the strength of this, I wish to make a passionate appeal to our members, party leaders and the members of the convention committee to be fair and just to all, and allow the process to produce a national chairman that would truly represent the conscience of the party.
“I do subscribe to the idea that consensus building, collective bargaining and constructive engagement are some of the ingredients that nurture any democratic process; such ingredients should be given enough room to flourish in order to birth credible and truly representative leadership.” On account of her recent history of factions and fractures, the former military president also advised the PDP to re-invent and re-enact itself, saying that the new leadership must be one that enjoys the confidence of the majority stakeholders and members in order to have a seamless transition. To achieve this template, he said such a chairman must be the outcome of a delegates’ election without manipulation and inducement, adding that one would have thought that after the 2015 dismal outing, followed by months of leadership tussles, individuals would have put to rest their selfish and egocentric interests and pursue goals and objectives that bear true testimony to the ideals of the founding fathers. Saying that the “sound bites of monetisation” of the process were utterly demoralising and benumbing, IBB noted that it was his strong belief that the leaders of the party, irrespective of their political interests, would allow reason and a level playing field to prevail in the overall interest of the party. “In the countdown to the Saturday, December 9, 2017, convention of the Peoples Democratic Party, as founding fathers and stakeholders, we need to collectively assure Nigerians and our teeming members that we have indeed learnt our bitter lessons. “Following the defeat of the party in the 2015 election, it is incumbent upon us as leaders and stakeholders to use the opportunity of the convention for sober reflection on the challenges confronting us, identify our flaws, and seek plausible ways to correct them in order to come out stronger in subsequent elections. “An elective convention presents, as it were, a rare opportunity and veritable platform to elect in a holistic manner a credible, tested, down-to-earth and truly urbane candidate with enough stamina, distinguished character and national acceptability who is driven by incurable optimism and passion for a united Nigeria. “At this point of our political history as a party, we need a national chairman who is driven by uncommon initiatives, creativity in ideas and a rich content of character to lead and stabilise the party in line with the laudable ideals of the founding fathers of the party,” he said. He said that such an individual must possess national recognition to be able to galvanise political opportunities and transform them into tangible outcomes in our democratic engagements.
ATIKU REJOINS PDP, NO AUTOMATIC TICKET FOR HIM, SAYS MAKARFI said there will be no automatic presidential ticket for any member of the party. Makarfi, in his reply to THISDAY’s enquiries, said: “The presidential ticket will be open to all those who may wish to seek for it. No promise of a ticket was made to anybody and no such promise will be made. “As a matter of fact, even Waziri Atiku Abubakar never asked for an automatic ticket.” Makarfi, however, did not respond to enquiries on if he will throw his hat into the ring for the presidential ticket of the PDP. Also reacting to Atiku’s return, the PDP and the Deputy Senate President, Senator Ike Ekweremadu described it as a welcome development not only for the party but the nation’s democracy. However, the APC dismissed the news on Atiku’s return to the PDP, saying yesterday that the reasons given by the former vice-president for his defecting to the opposition party sounded too familiar to be taken seriously. With the move by Abubakar, the stage is now set for his push to consolidate his base in PDP, where he is expected to contest for the presidential ticket ahead of the 2019 election. While writing on his Facebook page yesterday, which signified the former vice-president’s intention to use the social media to reach out to Nigerians, especially the youths, Atiku said his decision to go back to the PDP followed consultations he had with party leaders and stakeholders from across the country. He opened up by saying: “Hello, my name is Atiku Abubakar. I am speaking to you today on Facebook Live as I want to reach as many of our young people as possible, as I have an important announcement to make about the future of Nigeria.” In justifying his decision to dump the APC, Atiku lamented the inability of the ruling party to attend to one of the cardinal needs of the youths which is the creation of more jobs to cater to the teaming unemployed persons roaming the streets of the country. “The key to creating jobs is a strong economy and that is what we are currently lacking. So today I want to let you know that I am returning home to the PDP as the issues that led me to leave it have now been resolved and it is clear that the APC has let the Nigerian people, and especially our young people, down,” he said. The former vice-president also criticised the APC-led administration for failing to fulfil the yearnings of the people to improve their living conditions. “As it is you, our youths, who represent the future of our nation. I joined the APC as I had hoped it would be the new force that would help improve life for our people and I was excited about the party’s manifesto to create three million new jobs a year. “The result has not been the change people had been promised or voted for, as in the
last two years almost three million Nigerians have lost their jobs. And today, with a record 25 per cent of people aged 18-25 unemployed I can see how difficult it is for our youths to find jobs. “I have found in my travels across the country that whenever I get into conversations with young people, their number one concern is whether they will be able to get a job, for without a job they have no means of sustaining themselves or begin a family. And without the security of a job, we cannot have security in our country. “So without jobs, there is no future for you or for Nigeria. And I also know as a parent that the older generation is also concerned about jobs for their children and, too often today, for themselves as well. Creating jobs is something I know about as I have created over 50,000 direct jobs and 250,000 indirect jobs in my own State of Adamawa. “And I also know how the government can help create the right environment for businesses to create jobs. When I was vice-president in 1999, I was responsible for liberalising the telecoms sector which enabled us to increase the number of people who could access a phone from less than 1 million then to over 100 million today. “This transformation resulted in the creation of hundreds of thousands of new jobs from the top-up card vendors you see on every street corner to the many new businesses that fed off the mobile phone revolution,” he said. Atiku delved further into his decision to rejoin the PDP, reminding Nigerians that he was elected vice-president on the platform of the PDP, the political party he had helped to form some ten years before. “And some of you may also know that I left the PDP four years ago when I believed it was no longer aligned to the principles of equity, democracy and social justice upon which we had founded it,” he recalled. Atiku said that while it was apparent that the APC had let the Nigerian people and especially our young people down, the issue that led to his defection from the PDP has now been resolved. He lamented that terrorism, militancy, kidnapping, and other forms of exuberance were symptoms of the disease of joblessness. When asked about how he was going to fix the country, Atiku said that as a leader he would provide direction and bring in skilled people and inspire them to implement a roadmap to get to the destination he wants. On the position expressed by the APC faithful that PDP will not be voted into power again, the former vice-president said what Nigerians need now is a political party that is not just national in outlook, but one which represents the national interest rather than regional sentiments. “All I am saying is that we need a party that speaks to national
sentiments, not regional ones. We need a party that can make all Nigerians one till we can boldly say that we are all brothers and sisters with only one mother, Nigeria,” he said. Beyond his concerns about the high unemployment rate, Atiku during his interactive session with youths on Facebook also shared his feelings about alleged cases of inhuman treatment meted out to some Nigerians by the Police Special Anti-Robbery Squad (SARS). “We must set the minimum standards required for the treatment of Nigerians worldwide by the way we treat our people domestically. Our charity must begin at home. “On this issue, I call on the Inspector General of Police as a concerned Nigerian to intervene, and I know that the Nigerian Police as a disciplined and wellorganised force will take action to address this issue. “It will go a long way to improving Nigeria’s rating in the global ranking of police forces next year because this year, they were wrongfully ranked as the worst,” he said. However, the APC, in its reaction to Atiku’s reasons for moving to PDP said it sounded too familiar to be taken seriously. The National Publicity Secretary of APC, Mallam Bolaji Abdullahi said the party wished the former vice-president luck in his new place. Speaking to THISDAY Sunday evening on the phone, Abdullahi said in the process of trying to justify his frequent movement in and out of parties, Atiku was beginning to contradict himself. “Let me ask what reasons did he give for leaving the PDP when he left the party. Is he joining PDP now because they created jobs when they were in power? “The former vice-president does not need to give anybody any reason for leaving our party and joining the PDP. The more he tries to justify his movement, the more he makes statements or gives reasons that sound outrightly contradictory if not absurd. “So, it is within his democratic right to leave a party and to join any party that he wishes, he doesn’t need to justify it but by coming up with this long list of reasons and justifications, some people may just want to look back a bit and they would realise that these excuses and reasons sound very familiar,” he said. Ekweremadu, on the other hand, described Atiku’s return to the PDP as a welcome development, not only for the party but the nation’s democracy. Ekweremadu said the move represented a massive vote of no confidence in the leadership capacity of the APC, first, by the masses and now by the cream of its hierarchy and founding members. He said: “The dumping of the APC by Alhaji Atiku is a welcome development for the PDP, but more importantly, Nigeria’s democracy.
“Nigeria is in dire need of a rescue mission to rekindle hope in our democracy, restore her on the path of prosperity, and halt the worsening divisiveness that threatens our corporate existence. “I, therefore, enjoin all former PDP faithful who left for various reasons as well as other progressive-minded Nigerians to emulate Alhaji Atiku to reunite under the umbrella to salvage the nation because I see a new and better Nigeria coming in 2019. “I see a country where corruption will be eradicated, a nation that will be a pride to Africa and admiration of the international community, and a nation where no man will be oppressed, intimidated, persecuted or sidelined on account of ethnicity, religion or political persuasion. No amount of desperation will stop the will of God for Nigeria in 2019.” Also welcoming him back, the PDP said it welcomed the return of the Former vice-president to the party. In a statement issued last night by its spokesman, Dayo Adeyeye, the party expressed the hope that other former members of PDP who defected to APC would soon follow suit and join forces with the opposition party to deliver good governance to the people “We are indeed glad that he has realised the unbridled lies/ deceit of his former party, the All Progressive Congress (APC). The PDP remains his home; a house he was part of the building and which he helped to nurture. We believe his return will add value in the process of rebuilding our party to greater heights. “This is another milestone recorded by the current leadership of our party in its quest to reconcile, rebuild and restructure the PDP ahead of the 2019 general election and beyond. We will continue to remain transparent and dedicated to the service of this party. “Again, we want to use this opportunity to call on all our members that are still in the APC or other parties to return home. We are equally extending our invitation to all those in the APC who are frustrated by the party’s failure to deliver the goods. “Anyone who is desirous of a return to the era of abundance and freedom under the PDP administration is welcome. The umbrella is big enough to accommodate all. “We enjoin our members nationwide to come together as one family, as we march to Eagle Square, Abuja on Saturday 9 – Sunday 10, December 2017 to elect our new leaders who will manage the affairs of our party at the National Level,” he said.
IBB: PDP Chair Not for Sale Meanwhile, ahead of the national convention of the PDP, former military president, Gen. Ibrahim Badamoise Babangida, has raised the alarm over the huge
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Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081
CBN Injects $14.2bn into FX Market in Nine Months Dealers foresee stronger naira
Obinna Chima The Central Bank of Nigeria (CBN) has injected a total of $14.184 billion into the interbank segment of the foreign exchange (FX) market since it started its forays in the market in February this year, figures compiled by THISDAY have shown. This is just as the naira has been projected to appreciate against the U.S. dollar in the coming days following the anticipated inflow from the $3 billion Eurobond that was recently issued by the government as well as additional
$2.5 billion borrowing plan that has been approved by the Senate to support the funding of the budget. According to weekly FX sales by the central bank between February 21 and November 30, compiled by THISDAY, the CBN sold the greenback to authorised dealers in 60 sessions. A breakdown of the dollar sales showed that $680 million was pumped into the market in February, $1.542 billion was sold in March, $1.616 billion in April, $2.102 billion in May, and $1.631 billion in June. Also, while the central bank
Buhari Challenges World Moslem Leaders to Resist Violence by Islamists Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË President Muhammadu Buhari yesterday in Jordan, challenged leaders especially from the Muslim world to rise up against violence induced by hate from persons he described as deranged in the name of Islam. According to him, insurgents attracted members to their fold through insidious preaching by extremist clerics and called for an action plan to halt the trend. “All nations, irrespective of religion should partner effectively in implementing national, regional and global action plans to counter violent extremism,â€? he said. The president promised that Nigeria would play a leading role in bringing together countries of the West African sub-region in a collective security arrangement. A statement by his Special
Adviser, Media and Publicity, Mr. Femi Adesina, said Nigeria was ready to share its experiences with other states in the region with a view to coming up with comprehensive action plans in tackling the scourge of violent extremism in the region. He called for a stronger and well-coordinated collaboration among the countries, illustrating how joint regional collaboration under the auspices of the Multinational Joint Task Force, combined with the efforts of the Nigerian Armed Forces,succeeded in decimating the activities of extremists in the West African region. The statement added that at the end of the meeting, participants resolved to come up with concrete action plans that would change the narrative of violent extremism in the West African sub-region at a follow-up meeting to be hosted by Nigeria.
offered $1.639 billion to banks to sell to their customers in July, in August it sold a total of $1.051 billion. Additionally, the central bank offered $1.548 billion in September, $1.567 billion in October, and $810 million in November. The $2.102 billion sold by the central bank in May remained the highest in the nine months under review. The dollar sales have been targeted at retail invisibles for PTA, BTA, school fees and medical bills, wholesale forwards, SMEs, and Secondary Market Intervention Sales (SMIS). A market analyst said the interventions by the central bank have helped in eliminating the pressure on the forex market, ensured exchange rate stability and eliminated currency speculators. The naira exchange rate has remained stable in the past few months, exchanging at around N360 to a dollar in almost all the FX market segments.
Besides the push by the CBN, analysts reckon that the influx of forex from Nigerians abroad, especially during the yuletide season, is expected to strengthen the naira as demand for the currency has been largely met by the banks and other dealers in the market. The President of the Association of Bureau de Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe praised the CBN’s drive to stabilise the forex market, saying that the measures stemmed rampant cases of forex leakages and illicit money transfer from the country. He also assured the central bank of continuous support by his association. Also, CBN spokesman, Mr. Isaac Okorafor, expressed optimism that the naira would firm up against other currencies in the weeks ahead considering the $3 billion inflow expected from the recent purchase of Eurobonds and the $2.5 billion borrowing approved by the
Senate to support the funding of the budget. According to him, the Bank’s resolve to ensure adequate supply of forex to genuine customers through authorised dealers was sure to guarantee liquidity and boost confidence in the market by checking the activities of speculators. The aggressive interventions, notwithstanding, Nigeria’s external reserves increased by $5.488 billion to $34.816 billion as of November 29, compared to the $29.328 billion when the new forex policy was unveiled in February. CBN governor, Mr. Godwin Emefiele recently projected that the external reserves would hit $40 billion before the end of 2018. He also pointed out that the dogged implementation of the FX restriction on certain items had led to a 65 per cent drop in the country’s monthly import bill, from an average of $5.5 billion to $1.9 billion in the first half of 2017.
The governor expressed optimism that with the aggressive development finance interventions by the CBN, the nation’s import bill would reduce further. This, according to him, would further strengthen the nation’s currency. While stating that over the last 12 months Nigeria’s FX reserves had grown by over $11 billion, from about $23 billion in October 2016 to its present value, Emefiele said: “if we remain resolute with our efforts, policies and actions, we can attain FX reserves position of about US$40 billion by end 2018.� He also expects a return to very low double digit or high single digit inflation levels next year but warned policymakers in the country not to become complacent or over-confident, stressing the need for all to continue to work to improve and sustain the pace of recovery.
Terror Attack Alert: FG Assures of Adequate VISIT Security Measures in Abuja DIPLOMATIC Chinese Ambassador to Nigeria, Mr. Zhou Pingjian (left); with the Sokoto State Governor, Aminu Waziri Tambuwal, during the envoy’s The federal government has promised to provide adequate security measures to thwart any possible terror attack in the Federal Capital Territory (FCT) and elsewhere around the country, saying there is no cause for alarm despite the latest travel advisories by some Western countries. In a statement issued in Abuja yesterday, the Minister of Information and Culture, Alhaji Lai Mohammed, said the security agencies have not let down their guard, despite the fact that there has been no terror attack in the FCT since the Muhammadu Buhari administration assumed office. ‘’We know that the terrorists who have been massively degraded and put on the run, have been looking for soft targets to attack. This is the nature of terrorism all over the world, as can be seen in recent attacks in the United Kingdom, France and Egypt, among others. ‘’That is why the Nigerian
security agencies have continued to be on the alert, even if their efforts have been largely unobtrusive so as not to disrupt the daily activities of the citizenry,’’ he said, adding: ‘’Such efforts are routinely stepped up during religious festivals.’’ Mohammed said the federal government would continue to take adequate measures to protect the lives and properties of citizens and non-citizens alike, even as the military remains unrelenting in ensuring that the terrorists neither regroup nor regain the capacity to carry out organised attacks. He said the federal government’s sensitisation campaign on security, with the punchline ‘’if you see something, say something’’, would be stepped up on national radio and television, and advised the citizens to be security conscious and to report suspicious people and objects to the security agencies.
visit to Sokoto Government House Sokoto...weekend
9mobile Denies Speculations of Barclays Withdrawal as Financial AdviserWhen asked to comment trading as 9mobile wishes to the sale of 9mobile. Emma Okonji Contrary to the rumour making the rounds that Barclays Africa has pulled out as the financial adviser to 9mobile investment process that will lead to the sale of the telecoms company to a willing and credible investor, the Board of Directors of Emerging Markets Telecommunication Services, trading as 9Mobile, has allayed the rumour, describing it as false information. Although neither the banks nor the Barclays Africa was ready to speak on the issue when it broke out penultimate week, the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, however told journalists in Abuja after the Monetary Policy Committee (MPC) meeting that he was yet to receive any official letter to the purported pullout.
on the situation, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, only referred journalists to the CBN for such comments, a situation that made it difficult to ascertain the true position of things as at that time. But in a bold move to clarify the issue, the 9mobile, through its Board of Directors, released a statement on its website, informing the public that Barclays Africa is still in charge as the financial adviser to the 9mobile investment process. Part of the statement read: “Following recent press reports relating to Barclays Africa’s role as financial advisor on the sale of 9mobile, the Board of Directors of Emerging Markets Telecommunication Services,
clearly state that these reports are inaccurate. This is not surprising, having come from so-called “sources� without authoritative knowledge of the process. The board has full faith and confidence in the fairness and transparency of the process. Contrary to media speculation, Barclays Africa has also not resigned its mandate in the transaction and remains committed to a speedy and satisfactory conclusion of the process, for the avoidance of doubt.� During the rumour period, an industry source said the withdrawal was not unconnected with the joint letter written against Barclays Africa, by the CBN and the NCC, over its alleged involvement in circumventing the due process laid down for
In a joint letter to Guaranty Trust Bank (GTBank), which is the facility agent for the 9mobile syndicated loan, Danbatta and Emefiele expressed displeasure with the “unwillingness of Barclays Africa� to follow due process in the bid. According to the source the letter was a dent to the integrity of Barclays, being a multinational financial institution, hence their decision to withdraw quietly. But the recent statement from 9mobile has finally put the matter to rest, as Barclays still remain the financial adviser in the investment process of 9mobile, that will lead to the sale of the telecoms company and the eventual handing over of the telecoms company to its new owners before December 31.
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Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
PILOTING NATIONAL FINANCIAL INCLUSION STRATEGY Financial inclusion is a tool for poverty alleviation, writes Arize Nwobu
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inancial inclusion is a main stream topic among policymakers across the globe. In the lexicon of finance and banking, it has been defined as “the delivery of financial services at affordable costs to serve to sections of disadvantaged and low income segment of society’’. The G20 also defines innovative financial inclusion as “improving access to financial services for poor people through safe and sound spread of new approaches.’’ Financial inclusion is a masses-oriented concept and a key tool to poverty alleviation. It helps to develop habit to save, increase entrepreneurial spirit and national output; engenders faster economic growth and development of a stable financial system funded by non-volatile saving. The operational elements include the availability of a wide range of innovative financial products and services, including payments, savings, credit, insurance and pension products and services within the reach of all groups, and designing of financial products according to the needs of target clients. The contrast of financial inclusion is financial exclusion where financial services are not available or affordable to the low income group - a situation which has been noted to lead to pauperism. The World Bank estimated that 2.5billion working age adults are financially excluded, and the G20 identified an enabling environment in the respective economies as a critical factor that will determine the speed at which financial access gap will be closed for the financially excluded. Across the globe, all hands are on deck to break barriers and push the frontiers of financial inclusion. Recently, the United Nation’s Secretary General’s Special Advocate for Inclusive Financing for Development, Queen Maxima Zorreguieta Cerruti of the Netherlands, visited Nigeria and had audience with the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele. The Queen, who is also the Honorary Patron of the G20 Global Partnership for Financial Inclusion (GPFI), focuses on how formal financial services such as savings, credit and insurance can prevent people from falling into poverty. GPFI is an inclusive platform for all G20 countries, interested non-G20 countries and relevant stakeholders to carry forward work on financial inclusion. CBN is the custodian and project manager of the National Financial Inclusion Strategy which was launched in 2012. The stakeholders are banks (deposit money banks, primary mortgage institutions and micro finance banks), other financial institutions, Nigeria Communications Commission(NCC), National Deposit Insurance Corporation (NDIC), National Identity Management Commission(NIMC), ATM service providers, telecommunication firms, e-payment channels, Federal Ministries of Agriculture, Finance, Education, Trade and Investment, and Micro, Small and Medium scale enterprises The National Financial Inclusion Strategy was launched two years after a 2010 report by strategy consultants, Roland Berger, noted that Nigeria was a mid-level player in the sub-Saharan banking sector and lagged behind some of its peers in Africa with respect to financial inclusion. The
THE OPERATIONAL ELEMENTS INCLUDE THE AVAILABILITY OF A WIDE RANGE OF INNOVATIVE FINANCIAL PRODUCTS AND SERVICES, INCLUDING PAYMENTS, SAVINGS, CREDIT, INSURANCE AND PENSION PRODUCTS AND SERVICES WITHIN THE REACH OF ALL GROUPS, AND DESIGNING OF FINANCIAL PRODUCTS ACCORDING TO THE NEEDS OF TARGET CLIENTS
report noted that 36 per cent of adults, an estimated 31 million out of an adult population of 85 million, were served by formal financial services compared with 68 per cent in South Africa and 41 per cent in Kenya. Going forward, the International Monetary Fund (IMF), in its 2013 Financial Access survey, noted that African countries are showing the fastest growth in financial inclusion in the world. The parameters for the survey are, number of commercial bank branches per 100,000 people which reportedly grew around 180 per cent since 2004, access to ATMs in low income countries improved more than three- fold, a four-fold increase in commercial bank depositor per 100,000 people, and 40 per cent growth in real GDP per capita income from 2004 to 2012. CBN noted that adult exclusion rate reduced from 46.3 per cent in 2010 to 39.7 per cent in 2012, and that “all the geographical zones in Nigeria equally recorded improvements with the exclusion rate declining between 2010 and 2012 as follows: North East- 68.3 per cent to 59.5 per cent, North West- 68.1 per cent to 63.8 per cent and North Central- 44.2 per cent to 32.4 per cent. Others are, South East- 31.9 per cent to 25.6 per cent, South West- 33.1 per cent to 24.8 per cent and South-South- 36.4 per cent to 30.1 per cent. The apex bank targets to reduce the number of financially excluded to 20 per cent in 2020 and increase access to payment from 21.6 per cent to 70 per cent in 2020. Major driving tools for piloting the strategy are, financial literacy campaigns, entrepreneurial development centres, consumer protection, implementation of the Micro, Small, Medium Scale Enterprises (MSME) Development Fund, Agricultural Credit Guarantee Scheme, Tierred Know-Your Customer Requirement, and credit enhancement programmes such as, Agricultural Credit Guarantee Scheme (ACGS), Commercial Agricultural Credit Scheme (CACS), Small and Medium Enterprises Credit Guarantee Scheme and Entrepreneurship Development Centres. Experts believe that increased access to finance for MSMEs through financial inclusion (credit made on the back of mobilised savings), will lead to greater productivity and increased non-oil export, with the subsequent demand for the naira which will stabilise its value. MSMEs are engines of growth and hold the key to job creation and poverty eradication. They possess a huge but untapped potential. Some developed countries with successful MSMEs include Japan, South Korea, China, USA, Australia, Switzerland and India. The OECD had reported that MSMEs contributed 45 per cent and 79 per cent employment in manufacturing sector in Australia CBN has demonstrated a strong commitment to support MSMEs through the establishment of a N200billion MSMEs development fund which was launched in 2013 “in recognition of the significant contributions of the MSMEs sub-sector to the economy and the existing financing gap.’’ Nwobu is a Journalist and Chartered Stockbroker
IMPACT OF LEADERSHIP ETHOS ON PRODUCTIVITY Akintola Benson-Oke lists the means and ways to improved productivity
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r. Peter Reily, the notable organisational productivity consultant and the author of “In the Garden of Hearts� noted in his book as follows: “Regardless of what title you hold or role you play in your organisation, there is something in you that knows that no matter what good ideas or strategies the experts generate . . . those ideas go nowhere without leadership.� Mr. Reily then further shared from his rich career experience as follows: “Over my career I have facilitated the development of some excellent strategic plans. A few were successfully implemented; most were not. The plans did not succeed or fail based on the strength of the ideas and strategies that were contained within them. No, the key element in whether they succeeded or not was directly related to the effectiveness of the leaders who were charged with making them reality.� Indeed, experience teaches that leadership is not only about our ideas, our strategies and our vision. While these elements reflect the mind of a leader, it is not the essence of leadership itself. Also, it is not about our title or our authority or having a great personality, or being a moving speaker; although people sometimes mistake these elements for leadership. On the substance of the matter, the great philosophical thinker, Aristotle, spoke of ‘ethos’ as a type of leadership in which a leader influences others to change their values and thus their performance. ‘Ethos’ is not what a person says or promises, but it is their way of being in the world, their presence and comportment that affects how others follow them and whether they are open to their ideas. In essence, Aristotle is exhorting us that the leadership that matters is the leadership that results in productivity and positive change. Thus, what the ancient wisdom is telling us is
this: the most important reason why you should take the issue of productivity seriously is because our time is limited and each of us ought to make his/her time count for something worthwhile. Of course, productivity is also important in many more ways. Andy Core, an author and speaker on Work-Life Balance, Wellbeing, and Peak Human Performance, wrote an article where he explored how productivity impacts an organisation and its major stakeholders. He posited that the organisation’s customers are the first to benefit from a productive workforce. According to him, “Productivity in the workplace will often translate into acceptable service and interaction. This total client experience is the key to satisfying key stakeholders, and almost all highly productive organisations use this to gain customer loyalty. When a customer is loyal to your business, they will share their experience with others, which is a marketing advantage coming out of high levels of productivity.� In our own case, our customer is the general public. That is, the good people of Lagos State. When each officer of the Lagos State Civil Service is productive, the members of the public interfacing with the civil service will obtain such huge benefits and satisfaction that will positively rub off on the reputation and morale of the public service as a whole. The organisation itself is second in line to benefit from increased productivity, according to Andy Core. He wrote that, “the employees themselves are an investment, and like any investment, they should yield a healthy or worthwhile return to the organisation. Therefore, when employees are highly productive, the organisation achieves its goals of investing in them in the first place. Productivity also helps to motivate the workplace culture and boost morale thus producing an even better organisational environment. In the third place, employees themselves will
benefit from increased productivity in the organisation. More often than not, when an organisation is highly productive, it eventually becomes successful, and because of this, incentives are bound to be made available to the employees. These may include pay raises, bonuses, and so on. This will also motivate employees. Indeed, productivity in the workplace is an important aspect of every organisation and when all stakeholders understand this concept, success is just around the corner. In light of the above, it is therefore important for each person to consider how to make each moment count in their own interest and in the interest of the organisations they serve. On this matter of increasing productivity, John Rompton said, “There are two ways to increase your output--either put in more hours or work smarter. I don’t know about you, but I prefer the latter.� Working smarter has now been established as better than working harder. Also, behavioural scientists have found that while being more productive at work is not rocket science, it does require being more deliberate about how one manages one’s time. I will now take you through the seemingly obvious but very important strategies formulated by John Rompton for increasing productivity in the workplace every day. The first strategy is to track and limit how much time you are spending on tasks. You may think that you are pretty good at gauging how much time you are spending on various tasks. However, some research suggests only around 17 per cent of people are able to accurately estimate the passage of time. The second admonition is to take regular breaks. This may sound counterintuitive, but taking scheduled breaks can actually help improve concentration. Some research has shown that taking short breaks during long tasks helps you to maintain a constant level of performance; while working at a task without breaks leads to a steady decline in performance.
The third strategy is to set self-imposed deadlines. While we usually think of stress as a bad thing, a manageable level of self-imposed stress can actually be helpful in terms of giving us focus and helping us to meet our goals. For open-ended tasks or projects, try giving yourself a deadline, and then stick to it. You may be surprised to discover just how focused and productive you can be when you are watching the clock. Another useful strategy is to follow the “two-minute rule.� Entrepreneur Steve Olenski recommends implementing the “two-minute rule� to make the most of small windows of time that you have at work. The idea is this: If you see a task or action that you know can be done in two minutes or less, do it immediately. According to Olenski, completing the task right away actually takes less time than having to get back to it later. Implementing this has made him one of the most influential content strategists online. Another suggested strategy is to quit multitasking. While we tend to think of the ability to multitask as an important skill for increasing efficiency, the opposite may in fact be true. Psychologists have found attempting to do several tasks at once can result in lost time and productivity. Instead, make a habit of committing to a single task before moving on to your next project. As a matter of fact, your productivity will be well-served if you give up on the illusion of perfection. It is common for many people to insist on attempting to perfect a task--the reality however is that nothing is ever perfect. Rather than wasting time chasing after this illusion, bang out your task to the best of your ability and move on. It is better to complete the task and move it off your plate. If need be, you can always come back and adjust or improve it later. Dr. Benson Oke is the Commissioner, Lagos State Ministry of Establishements, Training and Pensions
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EDITORIAL FORFEITED ASSETS AND MATTERS ARISING The EFCC and ICPC should be held to account
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he integrity of the anti-corruption project of the President Muhammadu Buhari administration and the machinery for its prosecution were called to question last week by no less a personality than the Senate President, Dr Bukola Saraki. While lamenting that Nigeria was ďŹ nding it difďŹ cult to convince some Western countries to return funds looted from our treasury, Saraki attributed this challenge to their “exasperation over the management of returned assetsâ€?. According to Saraki, “the National Assembly has been strident about the opacity shrouding the management of recovered funds, which in many cases get re-looted by the agencies that investigated and recovered themâ€?. This, he said, had necessitated the composition of an ad hoc committee of the Senate, “which is investigating some administrative infractions in the executive, has discovered that many properties recovered from a fugitive from the law have not been accounted for by the investigating agencyâ€?. Against the HOW MANY PUBLIC background that the AUCTIONS OR BID weighty allegation is yet SESSIONS FOR to be refuted, we call on RECOVERED ASSETS both the Economic and Financial Crimes Com- MOVABLE AND FIXED HAVE THE EFCC AND ICPC mission (EFCC) and the HELD TO AVAIL THE PUBLIC Independent Corrupt Practices Commission OF AN OPPORTUNITY TO (ICPC) to urgently BUY THESE ASSETS IN A TRANSPARENT PROCESS? compile and publish a comprehensive list of all assets and funds they have so far recovered since their inception. Even if there were no allegations of impropriety, adherence to transparency and accountability should ordinarily be the hallmark of the two agencies. That also demands that the public be informed of the disposal and disposition of all such recoveries to date and the appropriation or expropriation of the proceeds. Beyond that, there are salient questions that need to be addressed: Can the EFCC and ICPC publish or disclose
Letters to the Editor
the aid, donations and assistance they have received from international agencies, foreign governments, etc., on a yearly basis and how this ties into their legitimate budget? How many public auctions or bid sessions for recovered assets - movable and ďŹ xed - have the EFCC and ICPC held to avail the public of an opportunity to buy these assets in a transparent process? Is it asking too much for the public to request and expect the accounts of the EFCC and ICPC to be audited annually and the summaries of these audits made public?
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pparently worried by some of the reports he was getting, President Buhari recently inaugurated a three-member committee to audit all assets recovered by relevant government agencies. The committee is to audit all accounts in which the recovered assets were lodged while its report is expected within four weeks, even though Nigerians may not hear anything about such report in the next six months. In fact, there are those who believe the committee may also end up being investigated by another committee in a familiar and endless racketeering. Yet, the conclusion from that is simple: if the missing assets and cash recovered by an administration that came to power with an agenda to ďŹ ght corruption are merely being cornered by fresh thieves, then the whole anti-graft war may be no more than just another hollow ritual. Therefore, what the foregoing also reveals is that corruption in Nigeria is a socio cultural problem that is rooted in the very foundations of who we have become and we can only ďŹ ght such a challenge through a holistic, rigorous and transparent approach. As things stand, the agencies we are expecting and using to ďŹ ght corruption - the judiciary, the police, EFCC and ICPC – are always looking for ephemeral successes. Yet to win the war against graft in Nigeria, we need both medium and long term strategies that will anchor on the rule of law. In the meantime, the Nigerian public must be reassured that those who superintend the anti-corruption efforts of the current administration are not feeding off the outer network of crime syndicates in politics, government departments, National Assembly and the private sector, at public expense.
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PEACE STRUCTURE AND CONFLICT ASSESSMENT OF NIGERIA
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eace does not exist on its own in an environment of interactions between two or more people. It has to be created through strategy. As I have often said, peace is a product that must be created through innovation of leaders. Research by Institute for Economic Peace has established that the relative peace of a society is underpinned by the material and cultural circumstances of that society, whether it is the efficiency of the formal institutions of government, the strength of the economic conditions, or the strength of the cultural and informal norms that relate to corruption. To bring peace into existence in a society like ours that is not just with multi-tribal and multi- religious configuration, but also with pervasive corruption and mismanagement, there is need to set up a sustainable peace structure that will continuously provide the needed antidote against conflict. Experts are no longer in doubt that building structure for peace is the best way to address conflict. However, to build an effective structure for peace, there is need to understand the nature of conflicts prevalent in the society. This would help us build an appropriate structure that has capacity to respond and address conflict. In an effort to understand the nature and motivation behind the numerous conflicts in Nigeria, the Institute for Peace and Conflict Resolution (IPCR) embarked on a painstaking investigation around the country to develop a Strategic Conflict Assessment (SCA) for Nigeria. They have done a wonderful job and deserve our commendation.
Although, Foundation for Peace Professionals was not involved in the process of investigation, assessment and development of the Strategic Conflict Assessment (SCA), notwithstanding, we understand the vision behind the national assignment and have confidence in the outcome of the research. On November 9, 2017, the IPCR launched the Strategic Conflict Assessment for Nigeria at the Nicon Luxury Hotel in Abuja. In attendance were the Minister of Foreign Affairs, Hon. Khadijat Abba, Gen. TY Danjuma, representative of UNDP, DFID and many others. I represented the Foundation for Peace Professionals (FPP). The research presentation was the outcome of almost two years of vigorous efforts of investigation, consistent travelling from one local governments to the other as well as analysis of information by the institute and its consulting partners. The Strategic Conflict Assessment (2016) was accompanied with a National Action Plan (NAP) to ensure proper implementation of the recommendations of the assessment, not just to mitigate the outbreak of conflict all across Nigeria, but to understand and address the root causes as well as find lasting solution. We understand that the Strategic Conflict Assessment of 2016 is not the first of its kind. Similar documents had been published in 2002, 2008 and 2012 (SCA). However, the 2016 publication is different in the sense that it came with a national action plan for the implementation. The National Action Plan (NAP), according to the institute, is to provide a framework for the implementation of the recommendation. What is required now is to set up an implementation
committee to develop a strategic action plan with timeline of implementation. I want to believe that the federal government of Nigeria will mobilise the state governors and other arms of government to quickly look into the formation of a strategic action plan to come up with a timeline. While it is true that I am yet to fully study the 548 pages document, which I am going to start doing as soon as possible along with our team at the FPP, I must note however that, I have read, studied and comprehended the 38 pages National Action Plan and I have no doubt whatsoever that there are some worthy recommendations that may truly help the country reduce the many avoidable conflicts in Nigeria. One of the key findings of this investigation is that, occurrences of conflicts in the six geo political zones of Nigeria have known no territorial or geo-political bounds. Those conflicts range from insurgency, militancy as well as a variety of other cross-cutting forms of inter group and communal conflicts, including conflicts borne out of youth restiveness, sundry crimes against humanity, political conflicts, ethno-religious and inter-faith, intra-faith conflicts and others. To solve some of the problems identified, the SCA recommended that government define explicitly and address the issue of land use and grazing activities in Nigeria. It also recommended that constitutional amendments should clarify indigenes, citizens and settler’s rights and other far-reaching recommendations. Abdulrazaq O Hamzat, Executive Director of Foundation for Peace Professionals
T H I S D AY ˾ MONDAY, DECEMBER 4, 2017
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Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY
POLITICS
M O N D AY D I S C O U R S E
Grand Conspiracy to Cover up Maina Scandal Recent events have shown that those who took part in the scandalous reinstatement of the wanted former Chairman of the Presidential Task Force on Pension Reforms, Abdulrasheed Maina are acting out a script with a view to sweeping the shameful act under the carpet, writes Tobi Soniyi
Buhari
T
he show of shame put up last week at the sitting of the House of Representatives’ adhoc committee probing the controversial resintatement of the former chairman of the Presidential Tasks Force on Pension Reforms, Abdulrasheed Maina, demonstrated clearly that the Muhammadu Buhari-led government has something to hide as far as this infamous act is concerned. Nigerians were fed with half-truths and inchoate explanation that not only point to the fact that those who played one role or the other in the recall were not just incompetent but also shameless. When corruption is involved, a simple issue will suddenly become complex. That is what has happened in the case of Maina. It is a very simple and straightforward case but it is deliberately being made difficult because those involved are not being forthright. Simple. Above all, the way each of them answered questions put to them at the public hearing shows that they have all agreed on what to say in order to avoid further bringing the government they work for into disrepute. If that was their intention however, then they failed woefully because their performance if anything, had further confirmed suspicion that this government deliberately and knowingly reinstated Maina. Nothing can be further from the truth. Same Old Tactic Right from when the scandal blew open, the directive by the president that Maina be dismissed from the federal civil service and that the Head of Civil Service should send him a report on the issue within one day was a plot to cover up and divert attention. If the President of the Federal Republic of Nigeria does not know that a civil servant can not be dismissed from service just because he wanted him dismissed, then we live in a perilous time. Secondly, the idea of asking for an administrative enquiry into a purely criminal matter is an old tactic that is often employed by those in power to buy time and divert public attention from the
Mrs Oyo-Ita
issue in question. Besides, Mr President does not have a good reputation for acting on reports submitted to him. It took our collective resolve before the president acted on the report submitted to him by the Vice President Yemi Osinbajo into the allegations of alleged corruption against the former Secretary to the Federal Government Babachir Lawal and the former Director General of the National Intelligence Agency, Ayo Oke. Even then, despite the damning report against the two, non of them is facing criminal prosecution. Attorney General of the Federation Defends the Indefensible Despite direct and uncontroverted statements by the Head of Service, Mrs Winifred Oyo-Ita and the Chairman of the Federal Civil Service Commission, Joseph Akande that the Office of the Attorney General of the Federation initiated the process leading to Maina’s reinstatement, the Minister for Justice, Abubakar Malami, SAN claimed that the letters from his office did not emanate for him. He also seemed to have trouble identifying who wrote the letter in his office. When asked by the committee to give a yes or no answer on whether the letter requesting Maina’s reinstatement came from him, the Honourable minister said no. This is the way he put it: “As at 5th October, Maina’s issue in my office was a work in progress and not yet concluded and that can be associated with previous dealings in February, April and October so the letter giving specific and clear directives couldn’t have genuinely emanated from my office.”
If he retains the ministers involved, the president will be sending a clear signal to the world that he approves the recall
Is the justice minister suggesting that someone in the ministry of justice wrote the letter and sent it out without his authorization? That obviously is a laughable suggestion because that simply can’t happen in Nigeria. But a more forthcoming HoS pulled the rug of the feet of the AGF when she insisted that her office received letters from the office of the AGF for Maina to be resintated. According to her, the AGF’s office wrote a series of letters to her office to press for the reinstatement. She said: “Maina, from records available to us, was dismissed in the year 2013 from the Federal Civil Service for absconding from duty. “From the beginning of this year, we started receiving series of letters written by the Attorney General and Minister for Justice, addressed to the chairman Federal Civil Service Commission and copied to the office of the Head of Civil Service of the Federation. “As those letters came in, the Federal Civil Service Commission wrote to my office, directing us to request the Ministry of Interior to set up a Senior Staff Committee to review the directives from the Attorney General.” You don’t need to be a first class student to know whose story is believable between the two. The HoS also said she learnt of Maina’s final reinstatement through the media saying, “when I got hold of that letter of reinstatement, I held on to the letter because I needed more clarification of that letter, so I was surprised to find out that without officially conveying the letter of his reinstatement or any letter of posting whatsoever, the said Maina was absorbed into the Ministry of Interior which I learnt through the media. “I want to place on record here that I still have the original letters here with me. My office will never convey such reinstatement letter to Maina, so there is no way he could have resumed work at the Ministry of Interior if he had not being officially notified of doing so by the office of the head of civil service commission.” To add to the AGF’s woes, the chairman of
the Federal Civil Service Commission, Akande, also told the committee that the letter requesting the reinstatement of Maina emanated from the office of the AGF. He said the commission started receiving letters from the AGF from early 2017. He said: “Sometimes in 2014, Maina wrote to the commission appealing that they reconsider their decision and that they review the dismissal given to him. “In 2017, the commission received a letter from the Attorney General dated 19th January 22017 demanding the reinstatement of Maina. “Again, the AGF sent another letter to us 27th April. The third letter informing us that he is the chief legal officer of the country and that the basis of our dismissing Maina cannot stand because a judge of high court in Abuja has paused the warrant of arrest and therefore directed. “The ministry of interior met through their SSC and recommended that he be reinstated. When we looked at it, we approved that be reinstated.” Interesting, contrary to claim contained in the AGF’s letter, Maina was not dismissed on the basis on the judgment referred to. That was a deliberate mis-representation. The judgment in question was against the Senate. Justice Adamu Bello had held that the Senate did not follow the proper procedure in summoning Maina. To buy time, the AGF also employed the old tactic of asking for more time to enable him investigate what transpired in his office. One thing was clear from the responses of the AGF: he simply was not making sense. Even the Director General of SSS In one breadth, the Director General of the Department of State Security Service, Mr Lawal Daura said no agency wrote to the DSS to inform the department that Maina was wanted. Yet, in the another breadth, he said he advised the AGF to meet with Maina in company of a third party. If he did not know that Maina CONT’D ON NEXT PAGE
T H I S D AY ˾ MONDAY, DECEMBER 4, 2017
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POLITICS
MONDAY DISCOURSE
GRAND CONSPIRACY TO COVER UP MAINA SCANDAL
Malami
was a wanted, person why advising the AGF not to meet Maina alone? That piece of advice presupposed that the Daura knew that Maina had issues with the law. It is a confirmation that Daura knew who Maina is and that it was not safe for the AGF to hold meeting with him without a third party. The cover up continues, but further revelation in the future may shed more light on what roles the DSS played in the Maina saga. Certainly, Nigerians have not heard the last on the DSS role in the issue. Permanent Secretary Playing the Fall Guy Thinking that if he took responsibility for the role the Ministry of Interior played in the scandalous recall of Maina, the Permanent Secretary of Ministry of Interior, Mr Abubakar Magaji said he accepted the blame for what happened. While testifying before the House of Representatives committee investigating Maina’s controversial reinstatement, Magaji said the reference letter made to inform the Head of the Civil Service of the Federation, Winifred Oyo-Ida, that Maina had resumed duty was a letter sent to the Federal Civil Service Commission. “When I observed this upon resumption from sick leave, I quickly replied to the Head of Civil Service of the Federation, Mrs. Winifred Oyo-Ita, apologising to her about the reference letter. “But service is an institution, whatever happened in the process of the minutes, the permanent secretary is the head of the administration and I am here to take responsibility. “Whatever the Interior Ministry has done wrongly in the way the administrative matter has been done to the end of this matter, I take responsibility because I cannot reject. “I am the permanent secretary, head of administration and I take responsibility for any administrative wrongdoing that Ministry of Interior has done.” What a smart move. But it does not explain the whole ignominious role played by the ministry in the recall. It also does not absolve the present administration of liability from the shameful act. As rightly pointed out by a candidate for the office of the national publicity secretary of the Peoples Democratic Party, Mr Faruk Adejoh-Audu, the lackadaisical way with which the Presidency is handling the Maina scandal would come back to haunt the All Progressives Congress-led government. He noted that before the ovation could die down from the directive by the president that Maina be instantly disengaged from service, a flurry of damning revelations directly implicating the president came to light as the scandal was unravelling . He said: “First was the HoS, who in a leaked memo revealed that contrary to the innocent and righteous indignation exhibited by the president, he was well aware of the dubious reinstatement of Maina long before the scandal
Maina
exploded and did nothing. “More than one month after Oyo-Ita revelation, Maina has also exposed the fact that the president actually personally approved his (Maina) dubious engagements with officials of government led by the AGF. “Is it possible that Mr President, his entire team and even his party, the APC do not consider explaining his role in this infamy an imperative as custodians of public trust? Or are they under the delusion that if they ignore this it will just fade into oblivion? “Whatever is their reason for the ominous silence they have succeeded in reducing Nigeria to a new low on the global corruption perception. But more importantly this silence is a tacit admission that Oyo-Ita and Maina were telling the truth when they said contrary to the impression that had been sold to the public, Mr President had been involved in the mainagate all along.” The President Deserves a Benefit of the Doubt Despite claim by Oyo-Ita that she briefed the president on the brewing scandal over Maina’s recall, it is possible that the president did not have a full briefing on the issue or had not had the time to fully digest the import of the unfolding drama. This is because one pattern that has emerged since the government came into power in May 2015 is that people in government are taking advantage of the apparent lack of control by the president. People in this government are doing what they like with or without the president’s approval. An instance will suffice. When the president appointed Ibrahim Magu as acting chairman of the Economic and Financial Crimes Commission, the DG SSS thoroughly embarrassed the president by sending a security report against Magu to the Senate. Even former President Olusegun Obasanjo was taken aback by the development. As a former president, Obasanjo found that to be awkward. Could it be that some powerful people within the Buhari government took advantage of the president’s weakness to orchestrate Maina’s recall into the civil service? The president still has enough time to clear himself moreso, when Maina had claimed that the president approved
The behaviours and actions of Nigerian political actors play a major role in setting social trends, forging public trust and inspiring positive behaviour
his resinstatement. To further prove that he did not approve what had taken place, the president must relieve those ministers who played key role in the reinstatement of their appointment. If he retains the ministers involved, the president will be sending a clear signal to the world that he tactically approves the recall. Otherwise Adejoh-Audu will be right when he asked, “Where else in the world will the president of a country knowingly participate in surreptitiously returning a fugitive to office in the garb of a hero with double promotion even while he’s still in hiding from the laws of the land?” Confidence in Anti-Corruption Waning It is unfortunate that there are people in the government who don’t seem to understand the fact that the success the government has recorded in its anti-corruption war is made possible by the EFCC. May be they fear that the commission will eventually turn out to be their albatross when they leave government. They have therefore continued to undermine the commission. While the AGF was quick to seek advice from the DG SSS on whether to meet Maina in Dubai or not, he chose to ignore the EFCC, the agency that investigated Maina and the whole pension scam. The action of the AGF in the whole process that led to Maina’s reinstatement shows that Malami was out to undermine the anti-corruption agency. He eventually did so at his own peril. If he had sought advice from the commission when Maina asked to see him in Dubai, he would not have found himself in this mess. Apart from the deliberate attempt to shut out the EFCC, the Maina saga has again exposed how inter-agency rivalry and lack of coordination among these agencies continue to undermine the war against corruption. With one agency trying to undercut the other, it is difficult to see the anti-corruption war succeeding. The implication of the above scenario is that public confidence in the anti-corruption war is waning. Different reports have shown that anti-corruption war succeeds when the process is owned by the citizenry. Now that members of the public have become sceptical, driving the process is going to be very difficult. The Chatham House in a report released in May and tilted, ‘Collective Action on Corruption in Nigeria. A Soial Norms Approach to Connecting Society and Institutions’ found that collective action was sometimes impeded because people had misconceptions about what other people really think. The report states, “If people were aware of how commonly held their personal beliefs are, they would be more motivated to act collectively against corruption. “Anti-corruption efforts may have the greatest
chance of success if they stem from a shared sense of responsibility and urgency – and thus foster collective grassroots pressure.” The report noted that Buhari was certainly not alone in his high-profile stance on corruption adding that a significant number of Nigerians agreed that it was morally unacceptable. “The crucial step is translating this shared belief into an effective and sustainable coalition for collective social action,” It added. Another key finding of the report is that leadership on anti-corruption can only be successful if it is by example. It stated: “The behaviours and actions of Nigerian political actors play a major role in setting social trends, forging public trust and inspiring positive behaviour. As key trendsetters, political actors and officials must measure up to higher standards of integrity, honesty and transparency in order to send a powerful signal regarding the government’s commitment to changing negative social norms and regaining public trust.” As it is, those hired by the president to set the trend for his anti-corruption war appeared to have their own agenda which is different from that of the president. It is not too late for the president to send them out of his government. Where is Maina? Now that DG SSS has admitted that his men were protecting Maina from those who wanted to harm him, can he now hand him over to the EFCC for prosecution? Or is the DSS still waiting for a formal letter to inform it that Maina is wanted? We as a people have been subjected to embarrassment by the handling of this case. The only way to stop the embarrassment is to allow the law to take its course. Buhari’s officials are in contempt in the people’s court. Apart from producing and charging Maina to court, the president should also add on the report submitted to him by the HoS. Luckily, the president’s party, the APC had declared Maina’s reinstatement as an embarrassment. When the scandal broke out in October, APC, through its National Publicity Secretary, Mallam Bolaji Abdullahi, described the incident as a huge embarrassment to the Buhari administration and the ruling party which rode to power on the mantra of change. He said: “We are all shocked like any other person. It is almost unbelievable that such a thing can happen. However, we are all delighted that President Buhari has taken a very decisive, punitive action against those that are involved. “We are also delighted that he has ordered a full scale investigation into the circumstances that led to this individual being reinstated into public office. We believe as a party that whoever that was part of this or found to have been part of this must face appropriate consequences because it is an embarrassment to the party, government and it is unacceptable.”
T H I S D AY ˾ MONDAY, DECEMBER 4, 2017
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POLITICS
Fresh Hurdles for Anambra Central Senatorial Re-run In spite of the recent court judgement ordering the Independent National Electoral Commission to conduct a re-run election in the Anambra Central Senatorial District, there remain a couple of obstacles that if unresolved may affect the credibility of the election. Iyobosa Uwugiaren writes
T
here are still many hurdles for the stakeholders in the Anambra Central Senatorial election to cross in spite of the Court of Appeal’s judgement, which recently ordered the Independent National Electoral Commission (INEC) to within 90 days, conduct a rerun election into the vacant seat of the senatorial district. Following the judgement, INEC has fixed the poll for January 13, 2018. However, new facts have shown that the judgement of the Court of Appeal may have been given without regard to another appeal pending in the same court in Abuja, in which Dr. Obiora Okonkwo of the Peoples Democratic Party (PDP) is seeking a declaration that he is the rightful candidate of the party and ought to be sworn-in as a senator representing the zone. Okonkwo has claimed that he ‘’rightfully, and convincingly’’, won the PDP primary election, contesting that by virtue of a Court of Appeal declarative judgement that Uche Ekwunife should not have been fielded as candidate for PDP, and therefore invalidated her purported election, he had become the rightful candidate that should be declared as a senator representing Anambra central at the Senate. In his appeal, which judgement has been reserved for December this year, Okonkwo argued that a re-run election, as recently ordered by another panel of judges of the Court of Appeal, was unnecessary since his pre-election matter is yet to be determined. Ekwunife was removed from the Senate by the Court of Appeal in Enugu on the grounds that she was wrongly nominated by the PDP, and as such, ought not to have been fielded in the 2015 election. Before the judgement, Okonkwo had filed a pre-election matter seeking an order upholding his nomination as the rightful PDP candidate for the election. He also asked the court to declare him the candidate of the party who should be sworn-in as senator representing Anambra Central because PDP actually won the election. He argued that by virtue of the pending suit, the Court of Appeal’s judgement--- ordering a re-run election would amount to an action nullifying the electoral will of people of the senatorial district, who voted massively for him as votes cast in the election in favour of PDP are still valid and not invalidated by any court. An affidavit sworn to by the national secretariat of PDP shows that the Alaye Tremie (Jnr) led-committee conducted the primary election for Anambra central senatorial race on December 7, 2014 at Ekwueme Square, Awka. And that one Okechukwu Akachukwu was appointed the returning officer for the primary election by the PDP NASS Electoral Panel---in accordance with Part V Par. 25(VIII) of the PDP Electoral Guidelines for Primary Elections 2014 The deponent averred that: ‘’The returning officer accredited 294 delegates for the Anambra central senatorial primary election, which held on December 7, 2014. Five aspirants: Obiora Okonkwo, Annie Okonkwo, Kodilichukwu Okonkwo, Uche Ekwunife and Sylvester Okonkwo participated in the primary’. ‘’At the end of accreditation and voting, the returning officer counted and announced the votes scored by each aspirant. He entered same in the official result sheet provided for the purpose by the PDP and marked Form PD004/NA. ‘’Okonkwo was returned as winner having scored 204 votes. Result was publicly announced by the returning officer. Duplicate copies of the results were made available to each aspirant who also acknowledged them.’’ However, the Chairman of the Election Committee, Tremie was said to have refused to receive the result sheet from the returning officer and refused to declare Okonkwo the winner of the primary election, acting on directive of some political forces within the party. Apparently convinced that Tremie’s action was in violation and breach of section 87(4)(c)(ii) of the Electoral Act 2010 (as amended), and Part V Par. 29(c)(e) and (g) of the Electoral Guidelines
INEC chair
for Primary Elections 2014 of the PDP, Okonkwo had approached the court through an originating summon--dated December 22, 2014 and filed the next day at the Federal High Court in Abuja. He prayed the court for a declaration that based on the outcome of the primary election and the authenticated result by the returning officer, he is the authentic winner of the primary and should be returned as such so as to contest in the senatorial election scheduled for February 14, 2015 or any other date. He also prayed for injunctive order to compel INEC to accept his name as the duly elected PDP candidate for Anambra Central Senatorial Election. Processes were exchanged in the suit and along the line, Ekwunife was joined. The suit has progressed and judgement was fixed by Justice A.R. Mohammed. However, the judge was said to have shelved judgement and called for oral evidence to determine which of the results sheets, as presented by Okonkwo and Ekwunife, was the authentic result sheet that should be relied on in the matter. Consequently, Okonkwo compelled the court to subpoena the chairman of the Anambra Central Electoral Panel, Tremie and he was subpoenaed. He reportedly testified that the result sheet presented before the court by Okonkwo was authentic. He also testified on oath, by way of a sworn affidavit of declaration, that Okonkwo actually won the primary election of the PDP for Anambra Central Senatorial seat. This means the result sheet paraded by Ekwunife was fake. Ekwunife through her counsel had also filed preliminary objection, which was subjected to another round of exchange of processes. However, her objection was dismissed and judgement set for a new date. However, rather than allow the matter to go to judgement, Ekwunife filed another application to set aside the order of adjournment for judgement and sought for an adjournment to enable her call additional witnesses. Okonkwo opposed the application. The trial judge however granted the Ekwunife application only to later washed his hands off the matter. Okonkwo later appealed against the decision. The Appeal Court dismissed the appeal and returned the matter to the FHC to continuation of trial and allow Ekwunife to call additional witnesses. The case was subsequently transferred to Justice
However, new facts have shown that the judgement of the Court of Appeal may have been given without regard to another appeal before the same court.
Okon Abang. Before Justice Abang, Ekwunife refused to call the witnesses she had applied for, but instead, came with a fresh application urging the court to grant her request to shelve the witnesses. The application was opposed by Okonkwo and subsequently rejected by Justice Abang, who ordered her to bring her witnesses on the next adjourned date. Dramatically, THISDAY gathered that rather than continue with the witnesses on the next adjourned date, Justice Abang, in a surprising move, also washed his hands off the matter and sent the case file to the Chief Judge for re-assignment to another judge. The matter was then assigned to Justice Quadri. When the case first came up before him, Ekwunife still refused to call the witnesses she had secured and ordered for. Rather, she came with another preliminary objection seeking that the suit be dismissed because as she argued, the plaintiff (Okonkwo) had no cause of action and that all aspirants in the primary election were not joined in the suit. Fresh processes were exchanged, arguments were taken and judgement reserved for August 3, 2017. However, before the judgement date, Okonkwo filed a motion on notice reminding the court that Ekwunife lacked locus to be joined in the suit ab initio on the grounds that another court had given judgement against Ekwunife to the effect that she was not validly nominated person to contest in the election and as such sacked her from the senate. Ekwunife also challenged the judgement and lost all through to the Supreme Court. Having defected from the PDP to the All Progressive Congress (APC) and sacked by Court of Appeal, the apex court ruled that she was not even entitled to be heard in the matter, or any matter that has to do with the Anambra Central Senatorial primary election. Victor Umeh had challenged Ekwunife’s election in court and the Court of Appeal in Enugu in a well-considered judgement held that Ekwunife was not the validly nominated/elected candidate of the PDP as per the primary election of December 2014 and as such ought not to have been on the ballot in the first place. Following this, the court ordered her out of the Senate. Okonkwo also asked that the judgement already reserved on his initial motion, be suspended while the motion filed against entertaining Ekwunife in any matter that had to do with the Anambra Central Senatorial Election because of her disqualification, and sack, by a high court which was also affirmed at both the Court of Appeal and the Supreme Court, be decided first. Ekwunife objected to the application on the grounds that it would amount to arrest of judgement. The court obliged her. The trial judge therefore proceeded to deliver his ruling on the
objection. He dismissed the preliminary object by Ekwunife where she argued that Okonkwo had no cause of action in the matter he was pursuing. Having dismissed the objection, there was expectation that he would proceed with either asking Ekwunife to call her additional witnesses for questioning or deliver judgement on the main suit. He did not. Like his two previous brothers, Justice Quadri also washed his hands off the matter saying that the interest of justice dictates that he walks away from delivering judgement. It is the ruling of Justice Quadri on August 3, 2017 that that hearing the plaintiff’s (Okonkwo) motion on notice and delivering a composite ruling with the ruling reserved amounted to arrest of judgement that the plaintiff (Okonkwo) is dissatisfied with and at the appeal contends that the trial court ought to have heard his motion on notice, challenging Ekwunife’s locus standi to file any further processes or defend the suit since the suit, as it stood then, was undefended. He is also praying the court to deliver judgement in his favour as the authentic PDP candidate for Anambra Central Senatorial election as per the primary election conducted on December 7, 2014. The issues before the Court of Appeal for determination are: Whether the FHC was right in refusing to hear, and determine, Okonkwo’s motion on notice of 20th June 2017 and suspended ruling reserved for August3, 2017, and which motion on notice also challenges Ekwunife’s locus to file any further processes in the suit; strike out Ekwunife’s name from the suit; enter judgement in favour of Okonkwo. Meanwhile, apparently not satisfied with the recent decision of the Appeal Court, which ordered INEC to conduct the election within 90 days, the PDP in a fresh case, has approached the apex court to upturn the decision. The party in the suit filed at the Supreme Court is asking it to set aside the judgement of the Court of Appeal, Abuja, excluding the appellant from fielding any of its candidates to participate in the fresh election ordered by the Election Petition Appeal Tribunal. The party is further asking the apex court for an order directing the 3rd respondent (INEC) to accept and put on the ballot paper, any candidate sponsored by the appellant to contest the fresh senatorial election for Anambra Central senatorial district. The PDP premised the appeal on the grounds that the justices of the Court of Appeal erred in law by holding that the 3rd respondent (INEC) was right to exclude the appellant and any of its candidate from participating in the fresh election ordered by the Court of Appeal Enugu Division sitting as Election Appeal Tribunal in CA/E/ EPT/28/2015, between Chief Victor Umeh and another vs PDP and others which disqualified only the appellant’s candidate, Uche Ekwunife and thereby breached the fundamental right to freedom from discrimination guaranteed the appellant by section 42 of the 1999 Constitution as amended. The appellant also argued that being a corporate entity and a political party operating in Nigeria, the Appeal Court’s order excluding it and any of its candidates from contesting the said election is discriminatory and breaches its right of freedom from discrimination. The appellant stated further that the Appeal Court erred in law in assuming jurisdiction to interpret its own judgment by sitting on appeal in its own judgment which is a final decision in CA/E/EPT/28/2015 between Chief Victor Umeh and another vs PDP and others which did not nullify the election to Anambra Central senatorial district seat won by the appellant but merely ordered fresh election after holding that the decision of the tribunal was perverse. Also, the party argued that the court misdirected itself in law when it held that the case of Labour Party vs INEC was applicable in the appeal at the lower court when the facts and circumstances of the case are ‘not on all fours with the facts of the Appeal at the court below.
T H I S D AY MONDAY DECEMBER 4 2017
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FEATURES
Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com
The Scarred Migrant He set out for Europe in search of hope. Instead, he was sold like a chicken and left for dead. A Nigerian migrant who was recently deported back home from Libya, tells Solomon Elusoji his story
F
riday Eneji, 27, wears a prominent scar on his face, like a badge that screams ‘hey brother, I’ve been to hell and I’m back’. But there are deeper scars buried beneath his skin, roaming inside his head, like restless roaches. During conversations, he speaks with a smile, as if narrating a fairytale. “I was lucky,� he said repeatedly. Eneji grew up in Obudu, Cross River State. His father, a retired civil servant who worked in prisons, married three wives and bore 14 children. His mother was a farmer who never struck gold. In 2008, he wrote WAEC, but he could not get into any university despite trying severally. He finally settled for a National Diploma at Fidei Polytechnic, Gboko, where he read Public Relations and wrote his final examinations in 2012. “I could hardly meet up with financial responsibilities while at the Polytechnic, especially when they retired my dad.� After Polytechnic, he went to Enugu to work as a hotel room service attendant and also did laundry work at 9th Mile for about a year. It was during this period he met a friend who advised him to start planning a trip to Europe. With just N500,000 he was told, it would be very easy to take part in the white man’s paradise. “I was surprised at first,� he said. But with much persuasion, he was convinced. His friend took him to a lady who was going to give them the necessary connections. The lady explained to them that it was easy to get work in Libya and get paid in American dollars. “Honestly, before then I had never heard of Libya,� Friday, then 25 years old, said. Together with two of his friends, convinced of the Eldorado awaiting them, he paid a deposit of N200,000. “She said we would get to Libya in one week.� In May 2016, Friday, with two of his friends, took a night bus from Enugu to Kano. As they approached Northern Nigeria’s centre of commerce, their bus was stopped and searched by men of the National Drug and Law Enforcement Agency (NDLEA). The wannabe migrants were immediately identified and asked to step out of the bus. “We had to settle them with six thousand naira each,� Friday said. After they crossed the NDLEA hurdle, they encountered immigration officials who also arrested and released them after allegedly accepting a bribe. “Everything is settlement,� Friday, flicking a finger at his nose, said.
Friday also watched his comrades – most of them Nigerians – die of starvation. He remembers clearly the story of two brothers, twins actually, who said they were from Benincity. They had stopped in the middle of the desert and the driver had driven off, leaving them without water. By the time he returned, the twins had died of dehydration
Friday...I want to help educate more people not to make the kind of decisions I made
From Kano, they crossed through the desert into Niger on bikes. When they arrived Zinder, a city 240 km north of Kano, Friday began to suspect that the journey was not going to be as easy as promised. The harsh weather, a roiling air dancing in the face of a volcano sun, was getting to him. And then there were the expenses he was forced to incur. At the Nigeria-Niger border, he had bought some garri, sugar and water kegs at quite exorbitant rates and, less than halfway into the journey, he was already running out of the N20,000 he brought along with him. They spent a week in Zinder before moving. “That’s because we had to wait for more passengers coming in from other routes,� Friday said. “The way the route works, you just can’t wake up and say you will board a bus to Libya. Everything is based on connection. Every passenger has a Connection Man. So when you get to a place, your Connection Man gives you a number to call, who will then put you in a bus to your next destination.� From Zinder, they travelled to Agadez, where they met more migrants like them. Agadez, a city in Central Niger and once a thriving economic hub, has become a major smuggling route into Europe. According to the International Organisation for Migration (IOM), over 170,000 migrants passed through the town in 2016 and more than 6,000 newcomers arrive every week, staying several days before moving on. “At Agadez, we sold our clothes, wrist-watches
just to be able to feed,� Friday said. The pain of survival became so intense that Friday, together with some of the travellers, decided it was better to go back. But, unknown to them that the worse was still to come, they chose to persevere. After all, Europe was on the horizon. Travelling from Agadez into Libya is a cavernous death-trap. According to the Regional Mixed Migration Secretariat (RMMS), more people perish in the desert journey than in the Mediterranean, succumbing to disease, starvation and dehydration. No one knows the exact figures, but experts believe they are astronomical. “The majority disappears without someone knowing,� IOM-representative Giuseppe Loprete told Belgian freelance journalist Lucas Destrijcker in 2016, the year Friday set out for Europe. Friday, drawing from his own experience, confirmed the desert’s deathly reputation. Along with about 30 other passengers, he was squeezed into the back of a Toyota Hilux pickup and handed a wooden stick to support his grip for the bumpy trip. “We went through the desert at maximum speed, so much that some people fell off,� Friday said. “The driver leaves anybody who falls off.� Friday also watched his comrades – most of them Nigerians – die of starvation. He remembers clearly the story of two brothers, twins actually, who said they were from Benin-city. They had stopped in the middle of the desert and the driver had driven off, leaving them without water. By the time he returned, the twins had
died of dehydration. “We buried them in the desert,� he said. Four days after they left Agadez, they arrived in Qatrun, a village in the Murzuq District in Southern Libya. From Qatrun, they proceeded to Sabha. Now, Sabha, some 770km to the south of Tripoli, has a reputation as the heart of Libya’s smuggling and human trafficking network. Phil Hoad, writing for the Guardian UK last June, said that reputation was unavoidable given the city’s position, “deep in the Libyan desert at the confluence of several migration routes from sub-Saharan Africa.� Ashraf Hassan at the United Nation’s Migration Agency, IOM, described Sabha as the “assembly point� for the dastardly smuggling and trafficking trade. When they got to Sabha, Friday recollects, everything changed. The drivers, who he described as Tubaos, black Arabs, started to brandish guns and canes to assert their control and they switched to Toyota pickups with tinted glasses. He and some of his friends even tried to escape, but they were caught. “They loaded us into the pickup like we were goats,� he said. “You can’t sit, you have to stand. More than eight people occupied the back seat alone.� Friday ended up in Ali Ghetto, a prison-place Italian journalist, Alessandra Ziniti, has described as “a fortress in the desert� with “high walls and barbed wire� and “militias armed with machine guns� patrolling its perimeter. He would later learn that their driver had sold
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FEATURES
Friday...my body testiďŹ es to my pain
At Sabratha, he joined thousands of other hopefuls, waiting for the boat that never came. After staying four months at a seaside camp, warding off deadly insects, watching people die of starvation and realising his mind was beginning to split apart, he walked into a police station and asked to be deported them to the prison, claiming that they had been unable to pay their transport fares. “I saw so many black people in Ali Ghetto,� Friday said. “This was where I saw people who looked like stockfish. You won’t even see sunlight.� Some, he said, had degenerated into insanity. At Ali Ghetto, Friday was not put to work. But every morning, he was served with “Morning Tea� – brutal flogging with a hosepipe. “What they told us was that we had to pay back the money they paid to the driver that brought us; they told me to pay N250,000 and I had to call a relative back in Nigeria to transfer the money in naira,� he said. He called his father, who thought he was still in Enugu. “I never told anybody in my family I was going to Europe. I wanted to get there and then call them, to surprise them.� Luckily for Friday, he spent only two weeks in Ali Ghetto, after his father paid the demanded fee. But rather than return to Nigeria, he resolved to forge ahead. “I wanted to make my family proud, and I really did not know where I was going to start from in Nigeria,� he told me. “Besides, after all I had gone through, how could I just give up?� He was released from Ali Ghetto with about five other boys at the same time. They just opened the gates and let them out to survive the streets of Sabha, where they could easily
Friday...everything I did, I did to make a better life for me and my family
have been kidnapped and re-ransomed by street gangs popularly known as Asma Boys. “These Asma Boys, they are jobless Arab boys who hunt for blacks to kidnap and then demand for ransom,� Friday said. The picture he painted of the streets of Sabha was that of complete anarchy, massive unemployment, kidnapping, robbery and drugs. “You can’t even go to the Police because they will just hand you over to these Asma Boys.� But, fortunately, he stumbled on some Nigerians who washed cars for a living. He joined them, worked for months, raised a substantial amount of money, about N300,000, then set out for Tripoli for the Mediterranean crossing,
the last barrier between him and his European dreams. In November 2016, he arrived the Libyan capital, full of hope and optimism. But, of course, he never crossed. He was duped of N150,000 by some traffickers in Tripoli, before travelling back to Sabha to work and raise more money then travelling to Sabratha, another costal Libyan city to cross the sea. At Sabratha, he joined thousands of other hopefuls, waiting for the boat that never came. After staying four months at a seaside camp, warding off deadly insects, watching people die of starvation and realising his mind was beginning to split apart, he walked into a police station and asked to be deported.
Last month, Friday was flown into Lagos. “I am a lucky man,� he said. “There are still thousands of Nigerians over there in conditions that are worse than death.� From Lagos, he travelled to his village in Obudu, Utugwang, where he met his Father and remaining siblings and shed bucket of tears. It was not the homecoming he envisaged, but they were happy to have him back. “I just want to have a chance to return to school,� he said, “and help educate more people not to make the kind of decisions I made. Everything I did, I did to make a better life for me and my family. But now I know there are things one should not risk.�
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IMAGES
Chairman of Stanel Group, Mr. Stanley Uzochukwu(right) receiving the 2017 Forbes rated African Achievers Award from the Guest Speaker, Mrs Yemisi Osho at the UK House of Parliament, London....recently
L-R; President, Assciation for Consulting Engineering in Nigeria (ACEN), Alhaji Suleiman Adamu presenting ACEN Lifetime Award to Chief Chrysanthus Olayiwola Adegbola and his wife, Mrs Olatokan Obafemi- Adegbola at the ACEN 39th Annual Conference/Agm & Dinner/Awards 2017 in Lagos...recently abiodun ajala
Ogun State Commissioner for Commerce and Industry, Otunba Bimbo Ashiru(left) and Rector Federal Polytechnic, Ilaro, Arch. Olusegun Aluko O. , during the Institution’s School Of Management Studies 11th Annual National Conference in Ilaro, Ogun State...recently
President , Ufuk Dialogue Foundation, Mr. Kamil Kemanci; Captain , Chad team, winner of the cup, Mahama Bachir Niam (middle); Daniel Amokachi and others at the presentation ceremony of the annual international dialogue cup comprtition in abuja...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: Director of Engineering, Accident Investigation Bureau (AIB)Mr .Mohammed Wali; Commissioner/CEO, Mr. Akin Olateru and General Manager, Engineering, Mr. Abdullahi Babanya during the launching of AIB Application Mobile for accident reporting and the release of accident reports at AIB Headquarters, Murtala Muhammed Airport, Ikeja, Lagos...recently kolawole alli
L-R Past President, Chartered Institute of Taxation of Nigeriia (CITN),Chief David Ajibola Olorunleke; President/ Chairman of Council, CITN, Chief (Dr.) Cyril Ikemefuna Nwobodo Ede; and Deputy Vice Chancellor Management Services, Babcock University/ Special Guest of Honor, Prof. Sunday Owolabi, at the 37th Induction ceremony of CITN in Lagos... recently
L-R; Chairman, Kunoch Limited,Pascal Dozie ; Minister of Agriculture, Chief Audu Ogbeh; and Head of Agric Finance desk,Diamond Bank, Lois Sankey during the 1st Annual Nigerian Association of Chambers, Commerce, Industry, Mines and Agriculture (NACCIMA)- Nigeria Incentive-based Risk Sharing System for Agricultural lending Agribusiness and Policy Linkage Conference held in Abuja... recently.
L-R: Director of Information, Federal Ministry of Finance(FMF), Alhaji Salisu Nainna Dambatta; Director, Home Finance, FMF;Mrs. Olubumi Shiyanbola; Deputy Director, Head of Exports, Trade & Exchange Department, CBN, Dr. Sani Danjuma and Deputy Comptroller of Customs, Anthony Ayalogu; during a Sensitization Workshop on Revised Import and Export Guildelines organised by the Federal Ministry of Finance, in, Lagos...recently kunle ogunfuyi
T H I S D AY ˞ ˜ DECEMBER 4, 2017
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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT
A S
A T
REPO 25.83% 29.08%
CALL 1-MONTH 3-MONTH
31.50% 32.50% 34.25%
N O V E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE
317.54% 0.09% 2.34%
Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157
3 0 , S & P INDEX 1/4 TO DATE YEAR TO DATE
2 0 1 7
7.47% 21.12%
EXCHANGE RATE N306/1US DOLLAR* *AS AT LAST FRIDAY
Quick Takes Red Star Supports Education Funding
As part of eorts to contribute to the development of education in Nigeria, Red Star Express through its Red Star Foundation has organised scholarship presentation ceremony to support schools in Oshodi Local Government Area of Lagos State. Speaking at the ceremony, the Group Managing Director, Red Star Express Plc, Sola Obobori, said the initiative was aimed at supporting the growth of education in the country, adding that Red Star believes in improving the lives of those who cannot pay for high quality education. He lamented that most wealthy Nigerians don’t support indigent students in the country, adding that funding was a key issue why many parents are not able to sponsor their children through school, “this initiative started in 2003 and it has been on for the past 14 years.â€? Obobori explained that his organisation remained committed to the initiative, adding that since its inception it has been going on well for them and they have not experienced donor fatigue, “a situation where most organisations are donating money for a particular course, but it is not yielding results.â€? During the event, nine students were given scholarship.The students were from four schools within Oshodi Local Government Area. They include Okonofua Tomillola, Ochella Victoria and Lawal Suliat from Ikeja Senior Grammar School, Okorovivian and Ajigboteso Joseph from Mafoluku Senior Grammar School, Arilesere Modinat from Bolade Senior Grammar School and Morakinyo Eniola, Adebayo Mark and Moses Olamode from Unity and High School.
NAHCO’s CEO Vows Positive Change
ROYAL ENDORSEMENT
L-R: Makaman Kano, Sarki Ibrahim in a chat with NDIC MD/CE, Alh. Umaru Ibrahim at the NDIC Special Day, during the 38th Kano International Trade Fair 2017 in Kano‌recently
THISDAY Model Portfolios Remain Bullish, Gain 24.7% Goddy Egene THISDAY Model Portfolio (TMPs) recorded another bullish performance last week, rising further. The TMP, which rebounded from 17.5 per cent three weeks ago to hit 22.4 per cent previous week, appreciated further to 24.7 per cent last week. All the five various portfolios that constituted the TMP posted positive performance last week. TMP, an initiative of THISDAY Economic and Financial Intelligence Unit (TEFIU), is designed to enable leading stockbrokers and investment houses in the country share their trading skills and methodologies with
CAPITAL MARKET ordinary investors. The investment houses involved in the project are Afrinvest Limited, FSDH Securities Limited, Capital Assets Limited, Meristem Limited and Lead Advisory Limited . TMP consists of five different portfolio types constructed individually in conjunction with five leading stockbroking firms in the country with different investment objectives. The project was executed by asking each of the partner stock broking houses in the country to construct a portfolio of 10 stocks selected according to their individual best judgement and using their
best and well tested stock selection and investment strategies. They were then asked to each deploy an imaginary fund of N10 million to invest on the 10 stocks in whatever proportions they considered best. It has been 23 weeks since the introduction of the portfolios and a look at its performance showed that as at weekend November 30, it has generated an aggregate return of N12.334 million on the N50 million imaginary fund deployed. However, Portfolio C maintained the highest return, which rose from 35.6 per cent two weeks ago to 38.4 per cent. The N10 million
deployed by Portfolio C has thus appreciated to N13.845 million as at last week. Similarly, Portfolio D retained its second position as, rising from 31.6 per cent to 34.5 per cent. This indicates that the N10 million deployed has grown to N13.453 million. In the same vein, Portfolio B, which rose to 27.9 per cent two weeks ago, appreciated further last week to hit 30.1 per cent. Its worth has improved from N10 million to N13.013 million as at last week. Portfolio A has climbed to 17.5 per cent last week, up Continued on page 24
NNPC to Fund New Gas Pipeline Projects with Transportation Tariff Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) has indicated that up to 1000 kilometres (km) of new gas lines that would be added to Nigeria’s gas line network would be funded through a new framework of contractor financing and then their construction costs paid off through agreed transportation tariff. It also stated that all
ENERGY the available gas powered electricity generation plants in Nigeria are currently connected to permanent gas supply pipeline, adding that its drive for more power plants to be connected to gas lines would eventually put up to 2,700 megawatts (MW) of electricity to the national grid soon. Speaking at the recent 2017
conference and annual general meeting of the Nigerian Society of Engineers (NSE) in Abuja, the Group Managing Director of the NNPC, Dr. Maikanti Baru, also explained that the corporation has completed and commissioned about 500km of gas pipelines between 2010 and 2017. His remarks at the NSE conference were contained in a statement by NNPC’s Group General Manager Public Affairs, Mr. Ndu
Ughamadu. Baru said the exercise was part of its aggressive plan to expand Nigeria’s gas pipeline infrastructure, and bring more industries to connect to gas as fuel for their various productions. He noted that the accelerated expansion of the gas pipeline system took off from the directive of the then President Olusegun Obasanjo, Continued on page 24
The Managing Director/Chief Executive OďŹƒcer of Nigerian Aviation HandlingCompanyPlc(nahcoaviance),Mr.IdrisYakubu,haspromisedto bring positive change in the organisation in a fresh drive for excellence that the Company requires to move to the next level. At his maiden meeting with sta at the Head OďŹƒce of the company, Yakubu said the foremost handling company in Nigeria requires a new and stronger service culture and assured he was prepared to lead that change. “We are looking forward to a positive change. You need to improve the areas that you can improve, and we must work together to eect the change. Some of the things required are little but they are very important. “It is important to understand that we have a lot of work to do to reposition the Company and I cannot do it alone. We have to win back our customers and reinforce the positive perception that our stakeholders have of NAHCO. The Management of the Company is focused on recovering lost grounds and would make a renewed drive for excellence in all its activities its watchword,â€? Yakubu said. The new Managing Director said that to move forward in the company there must be a new disposition, remarking that the era of sta taking things for granted was over and stressed that sta would be held accountable for their actions or inactions. “If you deliberately commit an error that the company has to pay for; then maybe, you should pay. NAHCO’s business should be regarded as our business and we must all take ownership.â€?
Simba Den Opens Store in Surulere
Nigeria’spowerbackupmarketcamealiverecentlywiththereopening of the ultra modern showroom of Simba Den at Eric Moore, Surulere, Lagos. Simba Den, retail arm of the Simba Group, is the chain of successful retail outlets specialising in the sale of power backup and power protection products, such as inverters, batteries, solar solutions and power protection devices, supported by the award-winning 24x7 after sales service of Simba Service. The group also have outlets in Abuja, Ibadan and Yola. Head of Operations, Mr. Rajneesh Gupta described the store as a one-stop-shop for inverters and related equipment, where the focus is on providing consulting to customers who may not know exactly what they require in their homes and oďŹƒces. He said, “we understand that there are many brands out there with dierent sizes and capacities, and we work with customers to understand their needs, make recommendations and deliver a customized solution. We invite customers to share their wish list as far as power backup is concerned, and then leave the rest including site surveys, delivery and installation to usâ€?.
“The foresight which the founding fathers of Bonny Gas Transport and Nigeria Railway Transport saw made me to say to myself that this vision will not be betrayed because I always believed that the essence of living is to add positive value to the society� Managing Director, NLNG Ship Management Limited,
Temilola Fatai Okesanjo
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BUSINESSWORLD NNPC TO FUND NEW GAS PIPELINE PROJECTS WITH TRANSPORTATION TARIFF
to the oil companies in the country to support the government’s power generation effort, and continued until gas-based power generation plants began to contribute up to 70 per cent of Nigeria’s daily power generation. Providing details of the planned expansion of the country’s gas infrastructure, he said the network would be bolstered with the completion of the 127km East-West OB3 gas pipeline which would join Oben to Obiafu-Obrikom by the fourth quarter of 2018, and the 363km looping expansion of Escravos-Lagos Gas Pipeline System expected for delivery by the first quarter of 2018. He said the Engineering, Procurement and Construction (EPC) tender evaluation process for 683km AjaokutaAbuja-Kaduna-Kano gas pipeline contract, and that of the Qua Iboe Terminal to Obiafu/Obrikom (QIT-Ob/Ob gas pipeline) were on-going. “Upon completion the remaining projects are expected to add over 1000 kilometers to the nati on’s gas pipeline network,� said Baru. On funding, he said the NNPC would adopt Public Private Partnership (PPP) models in building and expanding the gas infrastructures, starting with the Ajaokuta–Abuja-Kaduna–Kano (AKK) gas lines which would be built through contractor financing model, with the selected contractors providing the funds for its construction and then recover it through transportation tariff. “This model will be extended to other major backbone pipelines in the Nigerian Gas Master Plan,� Baru added. Baru, equally listed the gas pipelines so far delivered by the NNPC to include the 196km Oben gas plant to Geregu power plant pipeline, 110km Escravos-Warri-Oben gas pipeline, 128km Ukanafun-Calabar pipeline, 50km Emuren-Itoki pipeline, 31km Itoki- Olorunshogo pipeline and 24km Imo River-Alaoji gas pipeline.
THISDAY MODEL PORTFOLIOS REMAIN BULLISH, GAIN 24.7% from 15 per cent previous week, just as Portfolio E improved from 1.5 per cent the previous week to 2.7 per cent last week. Meanwhile, two stocks in Portfolio C have
Chika Amanze-Nwachuku AgriBusiness/Industry Editor
Jonathan Eze Comms/e-Business Editor
Emma Okonji Capital Market Editor
Goddy Egene Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Chineme Okafor (Energy) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)
fetched returns of 107 per cent and 104 per cent, up from 95 per cent and 85.7 per cent respectively in the previous week. This was followed by 45.9 per cent, 43.5 per cent;
24.9 per cent; 21.6 per cent; 21.3 per cent; and 13.3 per cent in that order. The two stocks that have recorded negative returns are 17 per cent and 0.4 per cent.
Also, the two stocks in Portfolio D that have so recorded negative growth are 9.4 per cent and 2.8 per cent. The highest gainer in the Portfolio D appreciated
to 104.2 per cent last week, while another has grown by 71.5 per cent. Others are: 45.9 per cent; 24.8 per cent; 21.5 per cent; 21.2 per cent; 11.7 per cent; and 7.2 per cent.
‘NNPC’s Disregard of OEM’s Manuals Contributed to ReďŹ neries’ Decay’ Chineme Okafor in Abuja The Nigerian Society of Engineers (NSE) has said that the decision of the Nigerian National Petroleum Corporation (NNPC) to continually ignore the operational manuals issued by the Original Equipment Manufacturers (OEMs) of its four refineries in Warri, Kaduna, and Port Harcourt, led to the collapse of the refineries. NSE stated that the refineries with a combined refining capacity of 445,000 barrels of oil per day (bd) have remained fairly broken down from years of the NNPC choosing to look away from the maintenance instructions
contained in the operational manuals of their OEMs. Its president, Mr. Otis Anyaeji, stated recently at a press briefing in Abuja to conclude the 2017 edition of the society’s annual general meeting and conference that the operational manuals of the refineries included phased maintenance jobs to keep them running efficiently. He noted that those phased maintenance exercises were recommended even when it appeared the refineries were working well, but the NNPC simply overlooked them and continued to work them until they became too broken to give out any meaningful output.
“I think that that is really an issue that took a long time to develop wrongly. The process of turnaround of a process plant is a matter of prescription from manufacturers of the various machineries that make up the refineries,� said Anyaeji, in respect of NSE’s opinion about the turnaround maintenance of the refineries which the NNPC has planned to embark. He further stated: “It is also a question of the prescription of the engineering procurement and construction outfit that built the plant, so, taking instructions from the manuals of these parties – the designers, engineers, and
construction outfits, if they had followed that, the plants would continue to run almost as new and operations will go on almost at their optimum capacities.� “But when the prescriptions are ignored for a long time - if they say after some hours of operation, the plants be shut down for repairs and turnaround maintenance be done even if it appears certain components of the plants are functioning, you should obey, but when you don’t do that, then you are breaking the rules,� he explained. Anyaeji stated that: “It took a long time for us to continue to break these rules and ignored all the prescrip-
tions and even warnings of the consequences of not doing a proper maintenance of these refining assets.� He said the society was however optimistic that the renewed efforts of the corporation to carry out turnaround maintenance exercises on the plants would yield results. “We know it will take a long time to repair them now that they are interested in it, and we are confident the NNPC will do a good job this time because its current Managing Director was in charge of one of the refineries and he knows where the shoe pinches the most,� he stated.
Google: Datally App Will Reduce High Mobile Data Usage in Nigeria Emma Okonji
Group Business Editor
NEWS
Concerned about data consumer complaints on fast depletion of data bundles on mobile devices, caused by too many unwanted background apps that are running on mobile devices, Google has said that the newly introduced app for emerging markets, called Datally, would help data users in Nigeria to monitor and control their data usage. Announcing the launch of Datally in Lagos recently, Google Nigeria Country Director, Juliet EhimuanChiazor, said the new app, which was specifically designed for data users in emerging markets like Nigeria, would help Android users understand and control their mobile data to get the most out of their data plans. According to her, “For
the last few years, our Next Billion Users team has been doing a lot of research on the ground in fast growing internet countries like Nigeria, We have found that data is a major constraint for the next billion users. Introducing Datally into the Nigerian smartphone market will help users understand how to control their mobile data better. “Google tested Datally in the Philippines for most of 2017, and the insights from the product tests there, shaped the final app. The user research showed that people testing the app saved up to 30 per cent of their mobile data, depending on the way they used Datally.� Datally works on all smartphones running Android 5.0 and higher, and is available for download on the Google Play Store globally.
Datally was developed to help solve one of the biggest concerns of smartphone users around the world, and especially in Nigeria, where worries about data usage is on the increase. During extensive user research around the world, we found that many smartphone users worry about running out of data, especially the new generation of internet users known as the ‘Next Billion Users.’ Not only are they constantly thinking about data balances, but they do not understand where their data is going, nor do they feel like they can control allocating data to the apps they really care about. The app will empower users to manage their data more effectively on their smartphones through four key features, Ehimuan-Chiazor said.
She listed the key features to include: Data Saver; Data Saver bubble; Personalised alerts; and Wi-Fi finder. For Data Saver, she explained that it would address apps that frequently use up data in the background for updating content and information. Datally’s Data Saver feature lets users control data on an app-by-app basis, so that data only goes to apps they care about. For the Data Saver bubble, she said once Data Saver is turned on, Datally’s Data Saver bubble will appear when a user goes into an app. Whenever that app uses data, the Data Saver bubble will show the current rate of data usage, and users can easily choose to block that app’s data use if things start to get out of control. The Data Saver bubble is like a speedometer for mobile
data. For Personalized alerts, Datally alerts users when apps start consuming a lot of data, and it allows them to see how much data they have used on a daily, weekly, and monthly basis. For the Wi-Fi finder, she said there could be times when users want to use more data than they have on their mobile plans, such as when they want to watch HD videos. Public Wi-Fi is an important access point for high-bandwidth connectivity. Datally’s Find Wi-Fi feature reveals the networks nearby, rated by the Datally community. Once connected, users can rate the Wi-Fi networks based on their own experience. Google’s innovative search technologies connect millions of people around the world with information every day.
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BUSINESSWORLD
MARKET REPORT
Stock Market’s Year-to-date Growth Hits 41% Goddy Egene and Nosa Alekhuogie The Nigerian stock market rose further last week to close 1.55 per cent higher as investors reacted positively to development in the economy especially in the area of capital flow that showed improvement. According to data released by the National Bureau of Statistics (NBS), capital inflows into the domestic economy recorded a notable improvement in the three months to September 2017, expanding by 127.5 per cent year on year(y/y) and 131.3per cent quarter on quarter(q/q) to $4.15 billion (highest since Q4-14), from $1.82 billion and $1.79 billion respectively. Portfolio Investment (259.2 per cent q/q and 200.7 y/y to $2.77 billion) accounted for the most (67 per cent) inflows into the country in the review period, followed by other investments (30 per cent) in the form of loans and other claims (68.6 per cent q/q and 124.5 per cent y/y to $1.26 billion), and three per cent from foreign direct Investment. The development, which showed improved investor confidence in the economy, led to a consolidation of the growth recorded in the market the previous week with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rising to 1.55 per cent to close at 37,944.60. Consequently, the year-to-date (YTD) growth climbed to 41.2 per cent. Apart from the NSE ASI that rose by 1.55 per cent last week, other sectoral indicators closed northwards as well. For instance, the NSE Insurance Index led with 1.54 per cent, followed by the NSE Banking Index (1.43 per cent, while the NSE Oil & Gas Index appreciated by 1.43 per cent. The NSE Consumer Index added 1.34 per cent, just as the NSE Industrial Goods Index gained 1.15 per cent. Market analysts at Cordros Capital Limited said: “Whilst noting possibility of momentum profit taking given the two consecutive weeks of gains, the outlook for equities remains broadly positive as market fundamentals (amid improving macroeconomic conditions) remain strong.� On the economic front, the Central Bank of Nigeria (CBN) released the Purchasing Managers’ Index (PMI) report for the month of November, showing that manufacturing and non-manufacturing activities during the month of November expanded for the eighth and seventh months, respectively at 55.9 and 57.6, indicating positive response to improvement in the macroeconomic landscape. “With festivity- related demand expected, amid sustained improvement in the FX space and strengthening consumer and business confidence, it is safe to expect continued expansion in the coming month,� analysts said.
Daily Market Performance
On the first day of the week when the market resumed, it was a bearish performance with the NSE ASI declining by 0.31 per cent as investors took profit following the previous week’s gains. The depreciation recorded in the share prices of Stanbic IBTC, FCMB Group, ETI, Flour Mills, and Unilever was mainly responsible for the loss recorded in the Index. Sector performance was mixed as three of five indices closed in the green, one trended southwards and the other flat. The NSE Banking Index emerged the lone loser, down 0.6 per cent owing to price depreciation in
preciated by 0.55 per cent to close at 37,709.20. On Thursday, which was the last trading day of the week , saw the market gain 0.62 per cent to bring the weekly growth to 1.55 per cent of the NSE ASI to 37,944.60. Market Turnover It was a four-day trading week as the Federal Government of Nigeria declared Friday, 1 December, 2017 as a Public Holiday to mark Eidel-Maulud celebration. However, the volume and value of trading surged to 14.257 billion shares worth N35.056 billion in 17,379 deals compared to 2.182 billion shares valued at N22.795 billion that exchanged hands last week in 17,019 deals. The Conglomerates Industry led the activity chart with 11.396 billion shares valued at N14.534 billion traded in 890 deals, thus contributing 79.94 per cent and 41.46 per cent to the total equity turnover volume and value respectively. The Financial Services Industry followed with 2.484 billion shares worth N9.797 billion in 9,205 deals. The third place was occupied by Consumer Goods Industry with a turnover of 164.156 million shares worth N8.127 million in 4,405 deals. Trading in the top three equities namely – Transnational Corporation of Nigeria Plc, Wapic Insurance Plc and Fidelity Bank Plc (measured by volume) accounted for 12.998 billion shares worth N15.494 billion in 1,813 deals, contributing 91.17 per cent and 44.20 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 1,090 units of Exchange Traded Products (ETPs) valued at N14,708.50 executed in 10 deals, compared with a total of 127 units valued at N13,837.30 that was transacted previous week in five deals. A total of 21,670 units of Federal Government Bonds valued at N23.125 million were traded this week in 17 deals, compared with a total of 9,024 units valued at N9.485 million transacted two weeks ago in 15 days.
Ecobank Transnational Incorporated ( -3.0 per cent), Zenith Bank (-1.0 per cent) and Access Bank(-0.6 per cent). On the positive side , the Consumer Goods Index led gainers, up 0.3 per cent due to upticks in Nigerian Breweries (+0.9 per cent), Dangote Sugar Refinery (+3.3 per cent) and PZ (+3.4 per cent). The NSE Insurance Index trailed, up
0.2 per cent on account of gains in Continental Insurance (+2.9 per cent) and Law Union (+4.9 per cent). Similarly, buying interest in Forte Oil (+2.5 per cent) pushed the NSE Oil & Gas Index 0.1 per cent higher. The market rebounded on Tuesday as the NSE ASI appreciated by 0.68 per cent to close at 37,503.73 points compared with the depreciation of
0.31 recorded the previous day. The appreciation recorded in the share prices of Nigerian Breweries, Stanbic IBTC, Access Bank, UBA and Dangote Cement buoyed the growth recorded in the index. In a similar vein, the market rose further on Wednesday to sustain the growth as most stocks appreciated. Subsequently, the NSE ASI ap-
Top 10 Brokers by Volume Rank
Broker
Description
1
UBAS
UNITED CAPITAL SECURITIES LIMITED
Quantity
% of Volume
22,579,281,279
2
CSL
79.19
CSL STOCKBROKERS LIMITED
1,620,450,202
3
5.68
CSEC
CORONATION SECURITIES LIMITED
1,475,997,985
5.18
4
SISB
STANBIC IBTC STOCKBROKERS LIMITED
467,523,395
1.64
5
RSNL
RENCAP SECURITIES (NIG) LIMITED
296,006,033
1.04
6
GWCH
GREENWICH TRUST LIMITED -BRD
278,835,438
0.98
7
CSSL
CARDINALSTONE SECURITIES LIMITED
189,641,611
0.67
8
READ
READINGS INVESTMENTS LIMITED - BDR
98,909,596
0.35
9
EFCP
EFCP LIMITED
94,420,932
0.33
10
MCSE
MORGAN CAPITAL SECURITIES LIMITED
90,830,514
0.32
27,191,896,985
95.37
Top 10 Total Volume NOTE: The top 10 Stockbrokers are responsible for 95.37% of the total volume between 27/11/2017 and 30/11/2017
Top 10 Brokers by Value Rank
Broker
Description
1
UBAS
UNITED CAPITAL SECURITIES LIMITED
Value
% Value
28,565,817,206.03
2
CSL
40.72
CSL STOCKBROKERS LIMITED
8,265,933,574.16
3
11.78
RSNL
RENCAP SECURITIES (NIG) LIMITED
8,092,930,829.09
11.54
4
SISB
STANBIC IBTC STOCKBROKERS LIMITED
5,546,114,313.50
7.91
5
ARMS
A.R.M SECURITIES LIMITED - BRD
3,451,335,344.18
4.92
6
GTI
GTI SECURITIES LIMITED - BRD
1,244,477,163.79
1.77
7
EFCP
EFCP LIMITED
1,206,926,749.47
1.72
8
FBNS
FBN SECURITIES LIMITED
1,047,209,170.08
1.49
9
VETV
VETIVA CAPITAL MANAGEMENT LTD
985,664,915.99
1.40
10
CSEC
CORONATION SECURITIES LIMITED
970,047,950.74
1.38
59,376,457,217.03
84.63
Top 10 Total Value
Price Gainers Losers
and
Meanwhile, 39 equities appreciated in price during the week, higher than 36 of the previous week, while 23 equities depreciated in price, lower than 24 equities of the previous week. Fidelity Bank Plc led the price gainers with 21.1 per cent, trailed by Forte Oil Plc with 14.9 per cent, just as Law Union & Rock Insurance Plc appreciated by 14.7 per cent. Caverton Offshore Support Group Plc rose by 14.4 per cent, while Dangote Flour Mills Plc, Nigerian Aviation Handling Company Plc and Cement Company of Northern Nigeria Plc chalked up 10.2 per cent and 10.0 per cent respectively. Cadbury Nigeria Plc, Diamond Bank Plc and Champion Breweries Plc garnered 9.7 per cent, 8.6 per cent and 6.8 per cent in that order. Conversely, Double One Plc led the price losers with 6.0 per cent, followed by University Press Plc with 5.5 per cent, just as Neimeth International Pharmaceuticals Plc shed 4.9 per cent. Livestock Feeds Plc went down by 4.5 per cent, while Guinness Nigeria Plc traded 4.4 per cent lower. Other top price losers are: Flour Mills of Nigeria Plc (4.2 per cent); PZ Cussons Nigeria Plc (4.2 per cent); Learn Africa Plc (4.1 per cent); Morison Industries Plc and N.E.M Insurance Plc (3.4 per cent).
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BUSINESSWORLD
INSIDE BROAD STREET
A view of Lagos ďŹ nancial district
AKINWUNMI IBRAHIM
Market Awaits N32bn Inflow from Maturing Treasury Bills Obinna Chima Maturing treasury bills valued at a total of N32.23 billion is expected to hit the market this week. Owing to this, the interbank lending rate has been projected to maintain stability this week in anticipation of the inflows. Analysts at Cowry Assets Management Limited, which stated this in their weekly review, pointed out that in the week under review, Central Bank of Nigeria auctioned treasury bills worth N117.18 billion, viz: 91day bills worth N7.89 billion, 182-day bills worth N6.21 billion and 364-day bills worth N117.18 billion. In line with expectation, the respective stop rates of the bills fell to 12.95 per cent (from 13.00%), 15 per cent (from 15.25%) and 15.57 per cent (from 15.60%) Also, treasury bills worth N72.34 billion were sold via Open Market Operations. But the outflows were more than offset by inflows worth N249.12 billion in matured treasury bills. However, NIBOR for overnight funds, 1 month, 3 months and 6 months tenor buckets rose week-on-week to 31.29 per cent (from 26.05%), 19.17 per cent (from 17.99%), 20.18 per cent (from 19.84%) and 22.46 per cent (from 22.18%) respectively. Elsewhere, NITTY moved in mixed directions: yields on the 1-month and 3-month maturities increased to 16.75 per cent (from 14.69) and 15.98 per cent(from 15.72%) respectively. However, yields on the 6 months and 12 months maturities fell to 18.98 per cent (from 19.03) and 17.79% (from 17.86%) respectively.
Forex Market In the just concluded week, the naira/dollarexchange rate steadied week-on-week at the at both the bureau de change and parallel market segments at N361 to a dollar and N364 to a dollarrespectively. The local currency however depreciated week-to-date by 0.30 per cent to N331 to a dollar at the interbank market (NIFEX) on the back of increased foreign exchange demand. Similarly, the naira lost at the I&E foreign exchangewindow by 11 kobo to close at N360.65 to a dollar as at Thursday. These were despite injections by the CBN worth $210 million into the foreign exchange market of which $100 million was allocated to wholesale (SMIS), $55 million was allocated to small and medium scale enterprises and $55 million was sold for invisibles. Meanwhile, a report by Cowry
MARKET INDICATOR Assets Management Limited showed that dated forward contracts at the interbank OTC segment appreciated amid sustained increase in the foreign exchange reserves – available data showed external reserves increased monthto-date by 2.08 per cent to $34.53 billion as at Friday, November 24, 2017. Also, the 1-month, 2-month, 3-month and 6-month contracts appreciated week-on-week by 0.12 per cent, 0.21 per cent, 0.33 per cent and 0.50 per centto close at N364.75/$, N369.82/$, N375.26/$and N394.41/$ respectively. “This week, we retain our stable outlook for the exchange rate amid sustained stability in global crude oil prices which should result in further build-up in foreign reserves as well as CBN’s continued intervention in the various segments of the interbank foreign exchange market,� analysts at Cowry Assets added.
Bond Market In the just concluded week, local OTC bond prices declined (and yields increased) across most maturities followed renewed profit taking activity. Specifically, the 20-year, 10.00% FGN July 2030 bond, the 10-year, 16.39% FGN JAN 2022 paper, the 7-year, 16.00% FGN JUN 2019 paper and the 5-year, 14.50% FGN JUL 2021 paper depreciated by 20kobo, 6 kobo, 76 kobo and 78 kobo respectively,while their corresponding yields increased to 14.66per cent (from 14.62%), 14.52 per cent (from 14.51%), 15.05 per cent (from 14.51%) and 15.05per cent (from 14.76%). Elsewhere, FGN Eurobonds prices tanked across the maturities amid resumed profit taking activity on the London Stock Exchange. Specifically, the 10-year bonds, 6.75% JAN 28, 2021 and 6.38% JUL 12, 2023 shed N0.03 and N0.21 respectively (corresponding yields increased to 4.57% and 5.26% from 4.57% and 5.22% respectively); however, the 5-year, 5.13% JUL 12, 2018 bond gained N0.04 (yield fell to 3.35 from 3.49%). “This week, we anticipate a mix of bargain hunting and profit taking activity at the domestic OTC bond market amid expectation of limited boost liquidity,� it added.
EmeďŹ ele at UNN The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele last week affirmed that with the Nigerian economy
exiting the recession, following a number of policy responses, the worst days were clearly behind the country. Emefiele noted that based on analyses and understanding of the developments which confronted the country, the central bank took a number of measures, many of which were at the time vigorously criticised, but which helped the economy out of the recession. Tracing the economic recession to the significant and persistent drop in commodity prices that affected the economy adversely, Emefiele said the resultant effect was depressed GDP growth, rising inflation, depreciation of the exchange rate, as well as depletion of the country’s foreign exchange (FX) reserves, and the decline in average FX inflows. Emefiele, who delivered the 47th convocation lecture of the University of Nigeria, Nsukka (UNN), pointed out that the vulnerabilities of Nigeria to the global shocks were amplified because of the nation’s over-reliance on the oil sector for FX revenue and for government finances. “Even at the height of high oil prices, rather than save, we drained our buffers through an excessive dependence on imports, most of which could be produced locally. “Based on our analyses and understanding of these developments, the Bank took a number of measures many of which were at the time vigorously criticised,� he said. The CBN governor noted that in the realm of monetary policies, the CBN embarked on a cycle of policy tightening to rein in inflation, using the Monetary Policy Rate (MPR) and Open Market Operations (OMO).
Education for Children with Disabilities Children with disabilities are being left behind by global efforts to improve education opportunities for all, as gaps between children with and without disabilities have increased dramatically in developing countries, according to new research from the World Bank and the Global Partnership for Education (GPE) released at the weekend, ahead of the International Day of Persons with Disabilities. The study, Disability Gaps in Educational Attainment and Literacy, found that primary school completion for children with disabilities in 19 developing countries was just 48 percent, and as many as three in ten children with disabilities have never been in school. The study, based on analysis of census data,
also found that literacy rates and secondary school completion lag considerably behind: Only six in 10 children with disabilities can read and write, and only a third complete secondary school. “Ensuring that all children have the same opportunities to go to school and learn should be a top priority to end the persistent learning crisis. More than gender or socio-economic status, disability has an outsize impact on a child’s opportunities to learn,� World Bank’s lead economist and co-author of the study, Quentin Wodon said. “As we work with countries to increasingly invest in their people, it’s critical that children with disabilities are not left behind.� It noted that the gaps between children with and without disabilities have increased substantially over the last 30 to 40 years, adding that children with disabilities have largely been excluded from efforts to improve education outcomes in the developing world. For example, it noted that despite high primary school enrollment in many of the countries covered by the report, the gap in primary school completion between disabled and non-disabled children stood at 15 percentage points for girls and 18 percentage points for boys. The report demonstrated that these gaps were the result of exclusion associated with disabilities, as opposed to other characteristics of children that could be correlated with disabilities. The report also found that children with intellectual or multiple disabilities tend to fare worse than children with physical disabilities or disabilities related to hearing, seeing, or speech. According to experts, access to school for children with disabilities is often limited by a lack of understanding about their needs, a shortage of trained teachers, as well as a lack of adequate facilities, classroom support and learning resources. “When children with disabilities can realise their right to education, it will have a lifelong and positive impact on their learning, achievement and employment opportunities, contributing both to their own development as well as to the economic, social and human development of their communities and countries,� the senior education advisor at the GPE, ,� Louise Banham said. “GPE is working closely with its partners to support the inclusion of children with disabilities in education systems.�
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The Snag with Nigeria’s Electricity Sector Belije Madu argues that the main problem bedevilling the Nigerian electricity industry remains the inability of its leadership to hold innovative and realisable commercial ideas A comparison of the thriving Nigerian generator market and the floundering electricity industry reminds one of the book Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter. Obviously, rich dad represents the thriving generator market while poor dad represents the floundering electricity industry. For the Nigerian electricity industry to break out of a vicious poor performance cycle, it must change its orientation from that of the poor to the rich dad. It is fundamental to note that the same set of commercial challenges face the Nigerian generator market and the Nigerian electricity industry. Yet, the Nigerian generator market thrives, while the Nigerian electricity industry remains unsuccessful and saddled with many challenges. In the book, the two dads faced with the same situation had two different outlooks and consequently had two different outcomes. The author’s real dad – the poor dad – was very educated, worked hard, and had financial potential. However, he held traditional views about money, and as a result ended up struggling financially all his life. By contrast his friend’s dad – the rich dad – did not have a college degree, also worked hard, had innovative views about money, and consequently thrived financially. The main problem afflicting the Nigerian electricity industry has been, and remains, the inability of the industry leadership to hold innovative and realizable commercial ideas. The Nigerian electricity industry is currently in the last stages of transition, from a solely government-owned -and-operated industry to a private-sector -owned andoperated industry. This transition is a part of the Power Sector Reform. Despite the reform, which commenced in 2005, the Nigerian electricity industry has retained its poor dad mentality, and consequently has not been able to improve its service delivery to Nigerians, and thus reap the much anticipated economic returns. The Power Sector Reform was designed to bring governance, efficiency and discipline in line with international best practices, as well as ensure the flow of local and foreign investments into the Nigerian electricity industry, which would ensure that the liquidity problems experienced historically by the Nigerian electricity industry was resolved conclusively. Following its privatization in November 2013, the Nigerian electricity industry was expected to evolve along the following four stages: 1. The Interim Period, which started in November 2013 and was characterized by the allocation of sector cashflow deficits across all market participants; 2. The second Market stage, the Transitional Electricity Market, characterized by the Bulk Trader’s active trading of power – as a buyer from GenCos and a seller to DisCos. (This stage was initiated in February 2015. However, the Nigerian electricity industry, unable to shed its poor dad mentality, has not moved beyond the first stage – the interim period – of the market. Consequently, the second stage of the market has not been successfully implemented. The third and fourth stages of the market, designed to yield maximum financial benefit to Nigerian electricity consumers, cannot be implemented because we are stuck at the first stage of the market. Most of the problems inherited from the old PHCN structure, caused by the poor dad mentality, targeted to be solved by the Power Sector Reform, will not be solved if the mentality of the Nigerian electricity industry leadership remains unchanged. The secondary problems arising from the continued poor dad mentality include regulatory compliance issues and manag-
ing the impact of foreign exchange rate changes. It is necessary to note that if the inherited PHCN problems are not swiftly and effectively resolved, they will mutate into new problems for the Nigerian electricity industry, as currently being witnessed. For the current Nigerian electricity industry leadership to design and implement effective and robust measures, which will tackle the inherited problems and curb the emergence of new problems, a poor dad to rich dad paradigm shift is required. This fundamental paradigm shift will drive the comprehensive overhaul of the Nigeria electricity industry, which in turn will galvanize the Nigerian populace and the international community, and thus serve as the springboard for the successful conclusion of the Power Sector Reform. This desired paradigm shift, which will ensure that the Nigerian electricity industry adopts the rich dad outlook, as has always been exhibited by the Nigerian generator market, are summarized below. Poor dad struggled to save a few Naira, while rich dad created investments: One negative component of the old paradigm of power supply in Nigeria is the view bequeathed to the leadership of the Nigerian electricity industry about the actual cost implications of generating and supplying electricity to Nigerians. These views have ensured that the leadership of the Nigerian electricity industry remains caught up in the vicious poverty cycle of saving a few Naira rather than creating investments. Most Nigerians spend a sizable portion of their income generating their own electricity to supplement the ever-epileptic supply from the national grid. Rather than being fixated on electricity tariff, the leadership of the Nigerian electricity industry should focus on taking a portion of the money Nigerians currently spend generating their own power supply and replacing their generators with grid-based electricity supply, which will result in a win-win solution for electricity suppliers and consumers. Rich Dad taught me how to write strong business and financial plans, so I could create jobs: To move forward, it will be necessary to re-galvanize both the Nigerian populace and the local and international investing community towards
the successful conclusion of the Power Sector Reform and the subsequent realization of the benefits. Consequently, a Nigerian Electricity Recovery Plan, owned by the Nigerian electricity industry leadership, should be prepared. This document will be used for advocacy for the Nigerian power sector by the Nigerian electricity industry leadership. The recovery plan will be communicated to all stakeholders through awareness-creating and advocacy initiatives with the media, local and international banks, the Manufacturers Association of Nigeria, consumers, etc. The Presidency, assisted by the Federal Ministry of Power, will also conduct public sensitization on the recovery plan, with town halls, television, newspaper, social media and radio campaigns. Rich dad believed in total financial self-reliance and resisted entitlement mentality: Currently, new power plants being developed do not include distribution infrastructure and billing systems as part of the project scope, resulting in stranded generation capacity. New power plants rely on the Nigerian government issuing sovereign guarantees in lieu of transmission and distribution capacities; and when these capacities are not available Nigeria loses. New power plants should be requested to amend their project development to an integrated electricity supply structure; i.e., to include the necessary transmission and distribution elements, as well as billing systems, which will ensure that the electricity generated will be transmitted, distributed and paid for. It will also ensure that new power generation plants, when commissioned, will directly increase electricity supply to Nigerians, as well as cash flow to the Nigerian electricity industry. Additionally, the implementation of the concepts of embedded power generation and distribution through eligible customer declaration, and mini grids through a regulated willing-buyer, willing-seller scheme, should be pursued vigorously. Rich dad believed that your home is a liability, and if your home is your largest investment, you’re in trouble: Currently, the DisCos believe that their largest asset is the distribution license, and not the distribution business. The inability of DisCos to operate in a bankable manner,
making them unable to raise the financing required to take and distribute additional electricity, is an example of the mutation of a problem inherited by the current administration. This problem will need to be solved by a holistic overhaul of the manner the DisCos are currently being operated by their new owners. Boards of DisCos will need to be reconstituted by the Nigerian Electricity Regulatory Commission (NERC), with professional Directors with clear mandates and guidelines. The new boards will be responsible for overhauling the management of the DisCos, were necessary. The boards will ensure accountability to performance benchmarks in line with transaction agreements (sales and performance agreements). The Central Bank of Nigeria will need to facilitate the renegotiation of the outstanding shareholder loans and the redenomination of DisCo loans from dollars to Naira, in line with the DisCos’ revenue profile. Following the reconstitution of the DisCo boards, the Federal Government should undertake the dilution of both the Federal Government and privately held stakes, to help bring some stability to the DisCos’ balance sheet. Poor dad said the reason I’m not rich is because I have you kids; rich dad said the reason I must be rich is because I have you kids: Since we are now operating a private sector-led electricity industry, it is fundamental that decision making in the Nigerian electricity industry be depoliticized and NERC empowered to swiftly and effectively make rules for the power sector, amend the rules, consult and engage Nigerians before the rules are implemented, to ensure that the benefits of the rules are realizable. The goal of the book Rich Dad Poor Dad is to increase financial knowledge and open up a world of possibilities, a world of learning and a world understanding. It is also to engender a take-charge world in which one will be equipped to take control and direct one’s affairs most productively. I believe the government of President Muhammadu Buhari can adopt the rich dad mentality to solve the problems in the Nigerian electricity industry. Email: belijemadu@taleveraspower. com; Tel: +234-813-460-2128
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EU Bank Extends â‚Ź100m Credit to Afreximbank Obinna Chima The African Export-Import Bank (Afreximbank) and the European Investment Bank (EIB) have entered into a line of credit agreement amounting to â‚Ź100 million. The credit line was granted by EIB to Afreximbank on the sidelines of the African Union-European Union summit in Abidjan. According to a statement, the facility was aimed at
financing trade-related longterm productive investments by private sector entities or commercially operated public sector entities in Afreximbank member countries that are also signatories of the Cotonou Agreement. The seven-year loan would finance trade-related investments and projects in Africa, with particular emphasis on small and medium-sized enterprises (SMEs) engaged in export manufacturing.
It is expected to enhance intra-African trade, Africa’s value-added exports, as well as trade with the European Union, thereby strengthening trade as a key driver of economic growth and competitiveness. “The facility agreement will add strong impetus to our drive for expanded intra-African trade and for the promotion of industrialisation and export manufacturing across Africa,� the President of Afreximbank, Dr. Benedict
Oramah said. He added: “We are delighted that the European Investment Bank has chosen to partner with us in the pursuit of Africa’s trade development and we are confident that, with the facility, we can look forward to mutually beneficial development outcomes for our two institutions and to the further strengthening of the relationship between Africa and Europe.� Oramah said the purpose of
the facility was fully aligned with Afreximbank’s current strategy which prioritised intra-African trade, intra–African investments and export manufacturing, expressing the view that it would contribute to employment creation, increased economic activities, and increase in tax revenues for fiscally constrained governments, amongst other outcomes. “Afreximbank was aggressively pushing the
goal of facilitating the decommoditisation of Africa as a critical factor in dealing with the migration challenges arising from the ever-expanding youth bulge in the continent,� he added. Speaking during the signing ceremony, EIB’s Vice-President responsible for Development, Ambroise Fayolle said the agreement would help develop EU-African trade relations and, crucially, provide much-needed jobs across the continent.
‘NDIC Has Paid N105bn to Depositors of Failed Banks’
Aero Raises Hope for Redundant Workers
Ibrahim Shuaibu in Kano
The management of Aero Contractors has given assurance to the workers who were relieved of their duties and put on redundancy by the airline, saying that many of them would be re-absorbed. In fact, Aero has started re-absorbing some of them, as the technical personnel among them had gone back, as the airline’s Maintenance, Repair and Overhaul (MRO) session has been expanded with more jobs coming to the company. This was disclosed by the CEO of the foremost Nigerian airline, Captain Ado Sanusi who commended the Asset Management Corporation of Nigeria (AMCON) for sustaining the operations of the company and labour for supporting the plan to ensure the survival of
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim yesterday in Kano disclosed that the Corporation had so far paid N105 billion to 442, 615 depositors of closed deposit money banks (DMBs) at the end of September 2017. Similarly, the Corporation paid a cumulative sum of N2.88 billion to 525, 009 Depositors of closed Microfinance banks (MFBs), as well as N60 million to 756 depositors of closed Primary Mortgage Banks (PMBs). Ibrahim, who disclosed this at the NDIC Special Day at the ongoing 38th Kano
International Trade Fair, with the theme: ‘’Reinvigoration of Micro, Small and Medium Enterprises: A Key for Effective Development of the Nigerian Economy,� urged depositors of any closed banks, who are yet to claim their trapped funds can also file their claims. According to him, ‘’It is equally important to draw the attention of members of the public to take advantage of the numerous incentives available to save and have financial services. “Depositors are also guaranteed by NDIC in the event of bank failure up to a minimum if N500, 000 in commercial, merchant/ mortgage banks/mobile
banking subscribers, while N200, 000 in a microfinance bank.� Ibrahim, explained that the corporation has paid liquidation dividends to customers, whose deposits were in excess of the insured sums upon the sale of fiscal assets of the closed banks and debt recovery. However, the Managing Director stressed the need for depositors to patronise only financial institutions that are licensed by the CBN and which display the NDIC sticker: ‘’Insured by NDIC,� in their banking halls and entrances, so as to avoid patronising dubious fund managers, otherwise, known as ‘Wonder Banks’.
Chinedu Eze
the organisation and assured that as the airline increases its operating fleet it would expand its routes, it would re-absorb its ground staff and other personnel. Sanusi said it is after the reabsorption of these workers that those who were left out would no more be on redundancy and would then be paid there severance benefits, adding that the company has already started pay off some of the staff who were not in line with the re-absorption plan. The Aero CEO explained that in order to ensure that the oldest commercial airline survived, the management put about 60 percent of the workforce on redundancy, noting that redundancy “does not mean termination but a long leave without pay, which was a decision that has helped to stabilise the airline.�
He also explained that it was after the workers were placed on redundancy that the airline was able to build capacity to three aircraft and upgraded its aircraft maintenance capacity to C-Check level. “Our MRO is functioning well and when we saw that the MRO was successful, we recalled 120 personnel to work on the maintenance session because the demand for third party aircraft maintenance from us is rising, just as we are maintaining our Boeing B737 at C-Check level,� Sanusi said. The Aero CEO said the company aims to develop the MRO to a level that it would be able to carry out line maintenance for all aircraft types operating in Nigeria and that is in addition to the present level that it carries out maintenance checks on Boeing B737 Classics to C-Check level.
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Jumia Partners Dangote Cement, Records 14m Visits in Black Friday Sales Emma Okonji Jumia, the online shopping platform, has announced its partnership with Dangote Cement in the ongoing Black Friday sales campaign, where it recorded 14 million visits to its websites and over 86,000 smartphone sales within two weeks of the commencement of Black Friday festival in Nigeria. Announcing the new partnership, which allows customers in Lagos, Abuja and Port Harcourt, to buy and ship Dangote Cement from jumia.com.ng website, at a reduced cost of N2,500 per bag, in three different quantities, the CEO of Jumia Nigeria, Juliet Anammah, said Jumia had already doubled its volume of sales in just two weeks into this year ’s Black Friday sales, when compared with its volume of sales for last year. Announcing its Biggest Black Friday sales figures in 2017, Anammah said Jumia has recorded 14 million visits since the commencement of the 2017 Black Friday Festival campaign on November 13th, out of which 1.9 mil-
lion visits was recorded on the first Black Friday Big Bang day, which held on November 24. Another Big Bang day is expected to hold December 8. Sales statistics released by Jumia, showed that overall, 85 per cent of all visits were made on a mobile device, compared to 72 per cent in 2016; 86,000 smartphones and counting have been sold in the past two weeks; 380,000 number of spaghetti packets that have shipped out; and the number of times the Jumia app has been installed since the beginning of Black Friday festival, is 208,214. The statistics also showed that the top selling feature phone has been the Tecno T401, with Triple Sim, Back Camera and Flash. The annual sales event, which was initiated in Nigeria in 2013 by Jumia, remains the busiest and largest shopping day of the year on both online and offline stores. According to Anammah, “This year ’s explosive Black Friday numbers demonstrates the increasing capacity and flexibility of
the online retail space in Nigeria. “We deliver to the 36 states across Nigeria, and are able to reach neighborhoods and shoppers who traditionally have not had access to a wide variety of products and deals. This year we also see the increasing interest in groceries and other Fast Moving Consumer Good (FMCG) products, which reflects the increasing relevance of Black Friday to the average Nigerian.� This year ’s Jumia Black Friday Festival featured partnerships with Intel, Pampers, Infinix, Philips, Fero, HP, MTN and Air France-KLM. For the first time, the shopping event featured a lottery giveaway with the grand prize of a brand new car courtesy of Coscharis Nigeria Limited. Another big first this year was the sales of premium cars at up to 60 per cent off, like the Range Rover Evoque Coupe and the Jaguar XE. FCMB is also sponsoring an extra 10 per cent off on all orders above N5,000 that are paid for using an FCMB account on Jumia Pay.
Great Place to Work Targets 1000 Customers in 12 African Countries Great Place to Work, a global research, consulting and training firm, plans to reach 1000 customers in 12 African countries within the next five years. Great Place to Work helps organisations identify, create and sustain great workplaces through the development of high trust workplace cultures. Through its Great Place to Work Awards in Nigeria, launched five years ago, the company has been helping to transform the level of productivity at Nigeria and indeed, African workplaces as well as their financial performance. Currently operating in five African countries, the company said it plans to grow its client base to least, 1000 customers by expanding its reach across 12 African countries including South Africa, Kenya and Cote d’Ivoire, among others. The Chief Executive Officer (CEO), Great Place to Work Africa, Mr. Kunle Malomo, said part of the 1000 customers the company was targeting for the next five years will come from Nigeria, where it plans to reach six additional states. Malomo, who made these known on Thursday at the company’s 5th Anniversary Celebration in Lagos, said Great Place to Work has been in Lagos for the last five years, but targets to be in six more states by nest year. He listed some of the states that will come on line in 2018 to include Oyo, Rivers, Kano and the Federal Capital Territory (Abuja), among others. Malomo said criteria for
choosing the states include good business base, good economy and representation of a concentration of corporate employers that have typically worked with the company in Lagos. Preparatory to its aggressive expansion, the company had acquired a United Kingdom (UK) office through the help of its investors. “We wanted to be able to expand across Africa; that we needed the technical and research expertise of a similar business that has a lot more spread. That UK business was 16 year old when we acquired it. It helped us to address some of the challenges in terms of finding the people, the talent to help drive growth,� Malome said. He said going forward, the company will also move beyond recognising companies that have created better workplaces to focusing on managers that help create those great workplaces. “We are going to honour specific managers who are transforming the workplaces,� he announced. Malome defined a great place to work as “....one where you trust the people you work for, have pride in what you do, and enjoy the people you work with.� Reviewing some of the company’s activities in the last five years, the CEO said it now serves over 100 corporate clients. According to him, more than 80 per cent of the biggest banks in Nigeria including financial services companies and multinationals make up the
company’s huge clientele. “We have surveyed hundreds of thousands of employees who work across more than 100 of those companies so, we are already very excited,� Malomo said. He added that feedback from its clients also show that the company was on course, as many of the companies have changed their workplace practices, while others recorded improved financial performance. For instance, Sanofi, a global health care company, acknowledged how Great Place to Work helped transform its workplace culture, helping it to communicate the values of being a great workplace. The company said it was able to reduce its unwanted turnover from 29 per cent to six per cent in just two years. Also, the Head, Performance and Talent Management, Human Resources management, Sterling Bank, Mr. Oludare Shobajo, testified that in the last five years, its partnership with Great Place to Work has been exciting and hugely rewarding. While noting that being a great place to work is a continuous process, Shobajo, who represented the Bank’s head of Human Resources, said Great Place to Work has become a reference point for companies seeking to transform themselves into great place to work, adding that it enabled the bank to constantly evaluate itself in today’s global workplace. The highpoint of the company’s fifth anniversary was the cutting of the 5th anniversary cake.
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Okesanjo: Nigerians Now Have Capacity to Supervise Ship Construction Managing Director, NLNG Ship Management Limited, Temilola Fatai Okesanjo in this interview with Eromosele Abiodun, posits that NLNG now has the capacity to man and supervise the construction of ships. Excerpts: I want to start by asking what is responsible for the lack of manpower in the maritime sector. You started as a cadet and now a master mariner, can you tell us your experience, where we got it wrong as a nation and what should be done to remedy the situation? This question actually goes to the root of maritime depreciation, or what I refer to as manpower supply and decline. I have a very important saying, which I believe will make everyone of us to know how it is happening. I always say to people things don’t just happen, people make things happen. If you don’t deliberately make things to happen, it will never happen. There was a time in this country where the government under the auspices of Nigeria National Shipping Line (NNSL), Nigeria Ports Authority (NPA), Green Line, and others believed that the maritime industry was very key, especially when you consider the ability of these aforementioned entities to bring in foreign reserves. Government decided that it is going to involve itself in the training and development of maritime manpower, and in conjunction with the NNSL, NPA and other private companies. In fact Green Line was owned by late Chief Folawiyo at that time. They put in place the process of training cadets and developing officers. This was how a lot of Nigeria officers and cadets were developed. At that time, we had about 10 old ships built in Germany. The government went further to establish a Maritime College in Oron, Akwa Ibom State in 1982. Also, at that time government directed the NNSL and other shipping companies to start training cadets. The first sets of cadets were recruited by the Ministry of Transport who actually established that college. They recruited people because they knew that they had to show example to the shipping companies that they are serious about increasing capacity of locally trained people. Before then, all the cadets were trained abroad. Many of my predecessors were been trained abroad. In view of that development these shipping companies have seen that the government was serious about the agreement to send which ever cadet they recruit to the new maritime college. This was how I was recruited by the NNSL. We were supposed to taken abroad; we were given sound training for three years, para-military, navigation and every other training. The school then was being managed by United Nations, the United Nations Development Programme (UNDP). We had many lecturers that were foreigners and some were Nigerians. Among the first three batches I was the first to receive my captain certification. What we saw then was that a lot of Nigerians were produced and at that time, the federal government bought in additional 14 new ships built in Yugoslavia and South Korea. They were able to man those ships without having to employ foreigners. The NNSL was one of the biggest shipping lines at that time with almost about 24 ships. But unfortunately things went into reverse after the military coup. This then brought in a military person as the Managing Director, someone different from Oladotun, who was a seasoned shipping person. That was how the company went down. Sir, let me take you back a bit. Recently, I was in Bonny to see the Marine Centre of Excellence (MCE), which is part of the Nigeria LiqueďŹ ed Natural Gas (NLNG) contribution to drive knowledge. Can you tell us about the marine centre of excellence? Maritime centre of excellence is something that has covered all that we have been doing within the context of bringing value to Nigeria, and NLNG within the maritime industry. The story I told you about how I went to sea actually shaped my belief in the need to bring the value of shipping back into the economy. By the time the fortunes of NNSL started going down, some of us who were in our middle career then,
Okesanjo
had to go abroad to work. Some of us had to complete our training by sponsoring ourselves including me. We actually took the gauntlet then and spearheaded that trip. I came back after I had become captain and worked for some oil companies in Nigeria. I started with Texaco Overseas Company, and then I moved to Mobil as the marine Superintendent. Then I got a scholarship and went abroad to do my master of science at the World Maritime University. When I came back, I joined Shell and later NLNG. On getting to NLNG and knowing what it took me to build my career, I took other courses to develop my career. I joined the NLNG in 1999 and that period was when activities were been put in place to commence production and shipping. I looked at what the founding fathers of NLNG have done within the context of shipping capacity requirement, which will be needed for the plant even before it was built. They founded the company known as Moridan Transport. They bought four ships NLNG Port Harcourt, NLNG Rivers, NLNG Lagos and NLNG Phnima. They bought these ships from the ship yards who at that time built them for another project, but those projects never took off. They borrowed money, bought them and lay off as far back as 1991 which was eight years before the NLNG plant was rebuilt. This showed that they had a foresight and the foresight has nothing to do more than taking complete value from the project. What this implies is that you will produce the cargo and deliver it on the ship, on cost insurance and freight, because you then take the shipping value and we will be in control of the entire chain. You can imagine what that will have met if today Moridan Transport has 13 ships belongs to us. The same thing would have happened to the Nigeria National Petroleum Corporation (NNPC) if since 1960 is they have been shipping 2 million barrel per day using
NNPC owned ships. You consider how many Nigerians will be employed, and how much that will have been brought in. As I speak to you, Bonny Gas Transport (BGT) has put a lot of dividends in billions of dollars to NLNG as a shipping subsidiary. The foresight which the founding fathers of Bonny Gas Transport and Nigeria Railway Transport saw made me to say to myself that this vision will not be betrayed. It will be sustained and grow because I always believed that the essence of living is to add positive value to the society. And to that extent, the first thing I did was to reactivate the Nigerianisation of the fleets. The Nigerianisation project was started off in 1992, after the purchase of the ships and certain numbers of cadets were recruited. But the project stopped. Therefore, no more cadets were recruited. But coming back in 1999, I resituated that project and we have since been training cadets and bringing them up. Today, we have developed captains at the BGTs. We have also developed superintendents from these individuals. We have developed managers; the people that will succeed me are cadets that were developed and have become captains, Chief Engineers and today; they are manning not only BGT, but also the major subsidiary that was setup to look after the technical activities of managing issues and terminals is NLNG Ship Management Limited. During the process of Nigerianisation, we not only train cadets. We also started the strategic development of our people in order to take over those core technical fields, that foreign companies were working for us at the time I joined the company. When I joined the company, Shell joined everything for us (Shell Trading and Shipping Company) which is a subsidiary of Shell. Yes we went through some phases, it was not so easy. You cannot just take away food from anybody. The first thing we did was to take over the commercial
activities because Shell was in charge of chattering these ships outside. We brought those ships and we started the project in 1999 September/October and we were managing the commercial activities. As we trained our people, we started what was known as the Ship management knowledge transfer. We could not start this until we have developed our people to Captains and Chief Engineers positions because these are the likes of people that you can make superintendents. A superintendent is required to take the ship management aspect of the shipping activities. Consequently, we had an agreement with Shell and we developed the first Ship knowledge transfer agreement. That formed the basis of the knowledge transfer which has never been undertaken by Shell before. Prior to then, Shell was managing Brunei ships before we brought our ship. After we brought our ships they started managing Qataris ships. At every point in time, these two countries have been following our footsteps. We got the license to manage ships (documents of compliance). Today, almost four or five years after, we are growing that capacity. Sir, may we know how many ships you have in your eet at the moment and how your vessels are doing in the global market? NLNG as a company chatters ships. What this implies is that it goes to ship owners to procure shipping capacity on a long time basis for the purpose of lifting its cargoes, which was contracted for delivery basis. What NLNG has also done was own a shipping company known as Bonny Gas Transport and NLNG also manages that company. In actually fact, that was my first job after I was promoted as a General Manager. But I re-integrated everything and you have a division known as shipping division which was CONTINUED ON PAGE 31
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OKESANJO: NIGERIANS NOW HAVE CAPACITY TO SUPERVISE SHIP CONSTRUCTION managing everything. I was managing BGT and the various developmental activities which eventually complemented into the setting up of NSM. We started NSM as a mining company and we started to gradually move the activities in the shipping divisions to NSM, because the vision was to have all the companies that are able to provide all the shipping activities, and support the growth of BGT and NLNG. As we progressed in that, the ships of BGT became fully managed by NSM. So BGT today has 13 NLNG carriers. It started with four old vessels which I told was acquired, another two old vessels were brought in when we were about to start the project procedure from Duke Energy in America (that was the Abuja and the Edos). These were the six old ships which we started the project with under the auspices of BGT. Those ships were chattered to NLNG and as we went to train three, three more ships were acquired. The first six ships were to service the productions coming from train one and two. As we went to train three, we built three new ships. But all of them were still what was known as still steam ships. As we went further in trains four and five, we required eight ships to carry the productions from trains four and five because they were bigger trains. At that time, a decision was taken to capture half of that shipping requirement from Bonny Gas Transport and half from a third party shipping company. This was how Bergeson was able to supply four brand new ships, also steam carriers to NLNG. While BGT supplied four addition ships to NLNG. So if you look at the six for trains one and two, three for train three, making, plus four for trains four and five making 13. These were the ships that were chattered from BGT. But four additional ones were chattered from Bergeson for trains four and five and we went into trains six additional ships four from Bergeson and two from NYK were also chattered. So there were three major companies chattering ships for NLNG. These were 13 ships from BGT, eight from Bergeson and two from NYK making a fleet of 23 NLNG cargoes. But there was one addition one chattered from Shell Bermuda Oversees Limited. This was old and we had to return it to Shell Bermuda Oversees Limited, therefore it will have been 24, but because we now have bigger ships, we decided to stay at 23. In the smaller fleets we were having 24 ships against four ships. But as we decided to replace the six old BGT ships, which we started with train six with, those ships were 125,000 capacity and we replaced them with 178,000 capacities. The additional one ship which could have made it to become 24 was no longer required because we now have six large vessels. This is why today NLNG as a company is chattering 23 carriers, comprising six brand new ground floor diesel electric ships which is the latest. One of the things we also did was that the constructions of these ships were hitherto done for us by foreigners. But we also developed our people and their capacity. I’m happy to announce to you that these ships their construction was done and completed by Nigeria Sight Engineers, which also shows that we have not only grown our capacity to man ships, but to manage and supervise the construction of ships as Nigerians. Sir, our readers would like to know more about the six new vessels that you have built These six vessels have served their purpose. The money that was realised in chattering these ships out was been used to run the NLNG before the project started. Issues went into the project and they grew forward to a very old age of 35 which is unusual. But they are still evergreen and because we now have emission rules, you now have certain compliance in terms of age. We had to retire the ships because we had to retire them, we had two alternatives. First, go out and chatter from other third party or make BGT to get these new ships. We did what was known as economic replacement and assessment. We did all the analysis. The management and the board found out that it is more profitable for the company to undertake this investment for the purpose of keeping the value in the house. Before now, whenever BGT wanted to borrow money to buy ships, it will rely on the collateral of NLNG and some other parties. But BGT on its own and based on other assets, was able to collateralise a loan of over N1.5 billion dollars to purchase these six ships. They have the latest designs and with the state of the art technology. Four built in Samsung
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heavy industry and others by Hyundai. As the newly appointed Managing Director of NLNG Ship Management Limited, what are the things you plan to introduce going forward? The good thing about NSML is the fact that it has become a very important pillar not only in Nigeria NLNG. But in the Nigeria shipping industry, today it is the only outfit that manages ships in the country such as NLNG cargoes. It is also the only outfit that manages a marine terminal. It is the one managing the activities of NLNG and we do it 100 per cent. Our vision is that NSML will become a vision of positive revolution for the shipping industry. We foresee a future whereby NSML will positively influence the growth of shipping such that Nigerian shipping companies are not only able to compete and stand their own, but will be able to bring value and revenue to this country. You talked about Maritime Centre for Excellence. NSML is the one managing what I refer to as the first and only maritime research centre in Nigeria today. MCOE is a product of many positive outcomes of the six new ships. What I did not mention here is the Nigerian industry’s beneficial activities such as the BGT project. For the first time, paints were developed from the country by two indigenous companies and shipped to South Korea for the purpose of constructing these new vessels. Electric cables were developed, produced in the country, and shipped to South Korea for the purpose of using them in these six new vessels. Other things such as furniture were developed by Nigeria companies.
One of the things we also did was that the constructions of these ships were hitherto done for us by foreigners. But we also developed our people and their capacity. I’m happy to announce to you that the construction of these ships was done and completed by Nigerian Engineers, which also shows that we have not only grown our capacity to man ships, but to manage and supervise the construction of ships as Nigerians
We also trained 600 Nigerians in the act of wielding, construction and many of them participated in the construction of these ships. One of the outcomes of the Nigeria content is the supply of simulators, which are electronic equipment and facilitators that can be used for navigation and cargo which we also got supplied worth over $4 to $5 million and the training of our people in the use of these simulators. MCOE came into been for the purpose of research and development, using cutting edge technology. Like I said to you, MCOE was able to simulate and support the design and construction of ships. They will be able to support supervision of the construction of ships. They will be able to simulate port development and channel, if you want to construct anything within Nigeria ports they have all the facilities it takes to build ships. If you want to build ships they can design for you. Even the Vessel Tracking Monitoring (VTM) system, they have all the facilities, we have a VTI base in Bonny. We not only have the simulators, but we have trained people on to use those facilities. We can support NPA and many of the outfits in the country, including Nigeria Maritime Administration and Safety Agency (NIMASA). One of the things we are also thinking about is how we can come to the aid of the shipping industry in bringing about the complete development of cadets which NIMASA have trained in order to ensure that these guys were not just made to be roaming about, but provide opportunity for them to follow up on their career and pick up whatever they have envisaged in their minds. I look at MOCOE as the engine of revolution and NSML will be the outfit upon MOCOE will create this revolution in the country. That is the vision I intend to follow. Sir, during your discussion about your shipping business, you talked about NLNG trading from Cost Insurance and Freight (CIF) basis. Going back to the maritime sector, we know that the involvement of large ship owners in the lifting of crude oil has been at the lower ebb. Also, we know that our crude is being lifted based on Free On Board (FOB) basis. Using NLNG as a model, and what is happening in the maritime sector, is changing our oil policy desirable at this time and what can the government do to encourage ship owners in the country in the lifting of crude oil? Like I said, there must be a vision, based on that vision you develop strategies for pursuing the objectives of that vision. The vision of the founding fathers of NLNG was that we will control and take value for the entire chain. We will liquefy gas and we will produce LNG. We will sell using our ships, so in everything we will make big value. You can also take value by owning the means of delivery. When you look at NLNG, one of their duties is that they chatter ships. So when they chatter the ships, they are still in control the value chain, because
they chatter those chips on a long term basis. So they will take value from delivery using ships that you have chattered. Therefore they control the freights, not only do they chatter ships, they setup a shipping company. They train their people to manage it. Again, they are taking value from owning as different from the value of freighting using chatter ships. They are providing jobs, which is another value. They are value line everywhere along the chain. This was why I said in my own time that vision will not only be sustained, but be nurtured. It took me 10 years to convince the shareholders to replace the six old ships using BGT. Rather than having other suppliers supply it. As a nation we must have vision, we must ask the NNPC what is the vision when we say we want to be selling crude oil. Nations such as Saudi Arabia selling crude oil, they have Saudi Aramco which has ships. Kuwait and Iran have ships. Before the demise of Iraq, they had ships. This shows that these nations knew exactly what they wanted to derive from the business of selling crude oil. It is never too late; all we need to do is to be deliberate in developing strategies. The good thing about Nigeria is that we are not short of capable hands that can put these strategies in place and make it work, provided that the interest of the nation is placed at heart and we are purposeful about it. if we are not purposeful about it or don’t have the interest of the nation at heart, whatever we want to do, one way or the other self-interest will come in and that is the good thing about NLNG. NLNG believes in people, they train people and give them what it takes to do what will be in the best interest of the Nigeria NLNG and the country. This is why I and my colleagues have achieved whatever it is that we have achieved such as the ship management knowledge transfer, the setting up of the maritime college of excellence, and the building of the first Vessel Traffic Information Management System (VITMS). These are no mean achievements but this should have been possible without the support of NLNG shareholders and the believe in the capacity of Nigerians to achieve this. That is what federal government and NNPC needs to have. Sir, let us focus on the security issues on the Nigeria waterways. We heard that there are so many issues around Bonny, kidnapping and all that. How would you describe the implications of these on Nigeria shipping business and how much do you spend protecting your vessels on yearly basis? The question you have asked bothers on two aspects. The first has to do with security of ships in Nigeria waterways or Gulf of Guinean and the other has to do with national security. I will not speak on national security because I don’t have what it takes. It is a very serious issue, what I can tell you is that to the best of my knowledge for 10 years, the Gulf of Guinean has been declared by the International Maritime Organisation (IMO) as high risk area. What this means is that ship entering into that water will have to take additional security measures to protect the ships and the people serving onboard. One of those things you will be exposed to is additional insurance. You also pay some bonus to crew in order for them to agree to come to that area. You can imagine what that will have been for the ships coming Nigeria, particularly for NLNG which daily transits that water in order to come into Bonny terminal to lift its cargo and the same for the companies under us. The second problem is what if with all these measures that you have you get to a situation where the risk has increased within the context of daring pirates and we have seen many ships been hijacked and what you don’t have today is the use of what is known as security vessels which has become very prominent in Nigeria. When NLNG started there was nothing like security vessels. But today, our vessels cannot go out with the support of security vessels. What it then means is that the cost of shipping activities in the country will have to increase because somebody has to bear this additional cost. We can now take and check the samples, then satisfy ourselves in what it takes to hire a security vessel ranging from the size of that vessel and how many we have to hire in order to successfully transmit bonny channel into the sea, without any incident. The same for many other companies who are transiting in high risk in order to evacuate their products, in terms of counter marine activities.
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Nigeria Daily Stock Market Report: 'ůŽďĂů ƋƵŝƚLJ DĂƌŬĞƚ ZĞǀŝĞǁ ĨŽƌ >ĂƐƚ tĞĞŬ ĂŶĚ KƵƚůŽŽŬ
THISDAY AFRINVEST 40 INDEX
WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ 'ůŽďĂů ƋƵŝƚLJ DĂƌŬĞƚƐ ůĂƐƚ ǁĞĞŬ ǁĂƐ ůĂƌŐĞůLJ ŵŝdžĞĚ ĂƐ ďĞŶĐŚŵĂƌŬ ĞƋƵŝƚLJ ŝŶĚŝĐĞƐ ŽƵƚƉĞƌĨŽƌŵĞĚ ŝŶ ĚĞǀĞůŽƉĞĚ ŵĂƌŬĞƚƐ ǁŚŝůƐƚ ĞŵĞƌŐŝŶŐ ŵĂƌŬĞƚƐ ƉĞĞƌƐ ůĂŐŐĞĚ͘ /Ŷ ƚŚĞ ĐŽŵŵŽĚŝƚLJ ŵĂƌŬĞƚ͕ Žŝů ƉƌŝĐĞƐ ǁĞƌĞ ƵƉ ϲďƉƐ tͲŽͲt ĂƐ ŽĨ ǁƌŝƟŶŐ͕ ǁŝƚŚ ƌĞŶƚ ƌƵĚĞ ƐƚĂďŝůŝnjŝŶŐ Ăƚ h^ΨϲϮ͘Ϯϴͬď ;ĂƐ Ăƚ ϯϬͬϭϭͬϮϬϭϳͿ͕ ĚĞĨLJŝŶŐ ŝŶŝƟĂů ƐĞůůͲŽī ƌĞĐŽƌĚĞĚ ŽŶ tĞĚŶĞƐĚĂLJ ŽǀĞƌ ƵŶĐĞƌƚĂŝŶƚLJ ŽĨ Ă ƵŶĂŶŝŵŽƵƐ ĂŐƌĞĞŵĞŶƚ ŽŶ ĞdžƚĞŶĚŝŶŐ ƉƌŽĚƵĐƟŽŶ ĐƵƚƐ ĂŌĞƌ ĞŶĞƌŐLJ ŵŝŶŝƐƚĞƌƐ ŽĨ KW ͬEŽŶͲ KW ĐŽƵŶƚƌŝĞƐ͕ ĐƵƌƌĞŶƚůLJ ŵĞĞƟŶŐ ŝŶ sŝĞŶŶĂ͕ ƐĞŶƚ ŵŝdžĞĚ ƐŝŐŶĂůƐ͘ ĐƌŽƐƐ ƚŚĞ Z/ ^͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŶĞŐĂƟǀĞ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĞƌĞ ĚŽǁŶ tĞĞŬ ƚŽ ĂƚĞ ;td Ϳ ĂƐ ŽĨ ǁƌŝƟŶŐ ŽŶ dŚƵƌƐĚĂLJ ϯϬƚŚ EŽǀĞŵďĞƌ͘ dŚĞ ƌĂnjŝů /ďŽǀĞƐƉĂ ůĞĚ ůŽƐĞƌƐ͕ ĚŽǁŶ Ϯ͘Ϭй͕ ǁŚŝůĞ ƚŚĞ /ŶĚŝĂ ^ ^ĞŶƐ ƚƌĂŝůĞĚ͕ ĚĞĐůŝŶŝŶŐ ϭ͘ϲй tͲŽͲt͘ dŚĞ ŚŝŶĂ ^ŚĂŶŐŚĂŝ ŽŵƉŽƐŝƚĞ /ŶĚĞdž ǁĂƐ ŽŶ ƚƌĂĐŬ ƚŽ ĐůŽƐĞ ŝŶ ƚŚĞ ƌĞĚ ĨŽůůŽǁŝŶŐ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŽŶ ƚĞĐŚ ƐƚŽĐŬƐ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ZƵƐƐŝĂ Zd^ ĂŶĚ ^ŽƵƚŚ ĨƌŝĐĂ &d^ ͬ:^ ǁĞƌĞ ĚŽǁŶ Ϭ͘ϴйĂŶĚ Ϭ͘ϱй td ƌĞƐƉĞĐƟǀĞůLJ͘ /Ŷ ƚŚĞ ĚĞǀĞůŽƉĞĚ ŵĂƌŬĞƚƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ƉŽƐŝƟǀĞ ƐĂǀĞ ƚŚĞ h^ E ^ Y ǁŚŝĐŚ ĚĞĐůŝŶĞĚ Ϭ͘ϵй td ĚƵĞ ƚŽ ƐĞůůŽīƐ ŝŶ dĞĐŚ ƐƚŽĐŬƐ ŽǀĞƌ ŝŶǀĞƐƚŽƌƐ͛ ĐŽŶĐĞƌŶ ĂďŽƵƚ ƐƚƌĞƚĐŚĞĚ ǀĂůƵĂƟŽŶƐ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ ^ΘW ϱϬϬ ƐƵƐƚĂŝŶĞĚ ŝƚƐ ƉŽƐŝƟǀĞ ŵŽŵĞŶƚƵŵ͕ ƵƉ Ϭ͘ϵй td ͕ ĂƐ ƚŚĞ h^ ^ĞŶĂƚĞ ĐŽŵŵŝƩĞĞ ĂƉƉƌŽǀĞĚ ƚŚĞ dĂdž ƉůĂŶ ŽĨ WƌĞƐŝĚĞŶƚ ŽŶĂůĚ ƚƌƵŵƉ͕ ďƌŝŶŐŝŶŐ ƚŚĞ ƚĂdž ďŝůů ĐůŽƐĞƌ ƚŽ Ă ŇŽŽƌ ǀŽƚĞ͘ dŚŝƐ ŝƐ Ă ǁĞůĐŽŵĞ ĚĞǀĞůŽƉŵĞŶƚ ĨŽƌ ŝŶǀĞƐƚŽƌƐ ǁŚŽ ĂƌĞ ĞĂŐĞƌůLJ ĂŶƟĐŝƉĂƟŶŐ ƚŚĞ ƉĂƐƐĂŐĞ ŽĨ ƚŚĞ ďŝůů͕ ǁŚŝĐŚ ƉƌŽƉŽƐĞƐ ƚĂdž ĐƵƚƐ ĨŽƌ ĐŽƌƉŽƌĂƟŽŶƐ͘ /Ŷ ƚŚĞ ƵƌĂƐŝĂŶ ƌĞŐŝŽŶ͕ Ăůů ŝŶĚŝĐĞƐ ƚƌĞŶĚĞĚ ŶŽƌƚŚǁĂƌĚƐ͕ ƐĂǀĞ ƚŚĞ ,ŽŶŐ <ŽŶŐ ,ĂŶŐ ^ĞŶŐ ǁŚŝĐŚ ĚĞĐůŝŶĞĚ Ϯ͘ϯй tͲŽͲt ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƚŚĞ ďƌŽĂĚ ͲďĂƐĞĚ ƌŽƵƚ ŝŶ ƚĞĐŚ ƐƚŽĐŬƐ ŐůŽďĂůůLJ͕ ŵŝƌƌŽƌŝŶŐ ƚŚĞ ƐĞůůͲŽīƐ ŝŶ ƚŚĞ ƚĞĐŚͲ ŚĞĂǀLJ h^ E ^ Y͘ dŚĞ 'ĞƌŵĂŶLJ y dZ y ĂŶĚ :ĂƉĂŶ EŝŬŬĞŝ ϮϮϱ ĂƉƉƌĞĐŝĂƚĞĚ Ϭ͘ϴй td ĂƉŝĞĐĞ͕ ǁŚŝůĞ ƚŚĞ &ƌĂŶĐĞ ϰϬ ŐĂŝŶĞĚ Ϭ͘ϳй͘ /Ŷ ƚŚĞ ĨƌŝĐĂŶ ŵĂƌŬĞƚƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ĂƐ Ϯ ŽĨ ϰ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ ĂŶĚ Ϯ ǁĞĂŬĞŶĞĚ͘ dŚĞ ŐLJƉƚ 'y ϯϬ ůĞĚ ŐĂŝŶĞƌƐ͕ ĂƉƉƌĞĐŝĂƟŶŐ ϱ͘ϰй td ͘ dŚĞ EŝŐĞƌŝĂ ůů ^ŚĂƌĞ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ŐĂŝŶŝŶŐ ϭ͘Ϯй td ĨŽůůŽǁŝŶŐ ƐƵƐƚĂŝŶĞĚ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ ƐŵĂůůͲ ĂŶĚ ŵŝĚͲĐĂƉ ƐƚŽĐŬƐ ŝŶ ĂŶƟĐŝƉĂƟŽŶ ŽĨ LJĞĂƌͲĞŶĚ ƌĂůůLJ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ 'ŚĂŶĂ '^ ŽŵƉŽƐŝƚĞ ĂŶĚ ƚŚĞ <ĞŶLJĂŶ E^ ϮϬ ŝŶĚŝĐĞƐ ǁĞƌĞ ĚŽǁŶ ϭ͘ϯй ĂŶĚ Ϭ͘Ϯй td ƌĞƐƉĞĐƟǀĞůLJ͘
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
Ticker
WĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ EŝŐĞƌŝĂŶ ĞƋƵŝƚLJ ŵĂƌŬĞƚ ǁĂƐ ůĂƌŐĞůLJ ďƵůůŝƐŚ ƚŚŝƐ ǁĞĞŬ ĂƐ ůĂƌŐĞͲ͕ ŵŝĚͲ ĂŶĚ ƐŵĂůůͲĐĂƉ ƐƚŽĐŬƐ ƌĂůůŝĞĚ͖ ŚĞŶĐĞ͕ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ĂƉƉƌĞĐŝĂƚĞĚ ϭ͘ϱй td ƚŽ ĐůŽƐĞ Ăƚ Ă ϯͲŵŽŶƚŚ ŚŝŐŚ ŽĨ ϯϳ͕ϵϰϰ͘ϲϬ ƉŽŝŶƚƐ ǁŚŝůĞ zd ĂŶĚ Dd ƌĞƚƵƌŶƐ ĂĚǀĂŶĐĞĚ ƚŽ ϰϭ͘Ϯй ĂŶĚ ϯ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ͘ DĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ŝŶĐƌĞĂƐĞĚ ďLJ EϮϬϱ͘ϱďŶ ƚŽ Eϭϯ͘ϮƚŶ͕ ĞdžĐĞĞĚŝŶŐ ƚŚĞ Eϭϯ͘ϬƚŶ ŵĂƌŬ ĨŽƌ ƚŚĞ ƐĞĐŽŶĚ ƟŵĞ ƚŚŝƐ LJĞĂƌ͘ ^ŝŵŝůĂƌůLJ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ϳϬ͘ϴй ĂŶĚ ϭϰ͘ϯй tͲŽͲt ƚŽ ϳϰϱ͘ϱŵ ƵŶŝƚƐ ĂŶĚ Eϱ͘ϮďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ǁĞĞŬ͛Ɛ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬ ďLJ ǀŽůƵŵĞ ǁĞƌĞ t W/ ;ϭ͘ϰďŶͿ͕ &/ >/dz ;ϮϮϰ͘ϯŵͿ ĂŶĚ & E, ;ϭϲϰ͘ϲŵͿ ǁŚŝůĞ E/d, ;Eϯ͘ϵďŶͿ͕ E/' Z/ E Z t Z/ ^ ;Eϯ͘ϰďŶͿ͕ ĂŶĚ 'h Z Edz ;Eϭ͘ϱďŶͿ ůĞĚ ƚŚĞ ǀŽůƵŵĞ ĐŚĂƌƚ͘
dŚĞ ůŽĐĂů ŽƵƌƐĞ ƐƚĂƌƚĞĚ ƚŚĞ ǁĞĞŬ Žī ŽŶ Ă ŶĞŐĂƟǀĞ ŶŽƚĞ͕ ĂƐ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ ďĂŶŬŝŶŐ ƐƚŽĐŬƐ Ͳ d/ ;Ͳϯ͘ϬйͿ͕ E/d, ;Ͳϭ͘ϬйͿ ĂŶĚ ^^ ;Ͳ Ϭ͘ϲйͿ Ͳ ĚƌĂŐŐĞĚ ƚŚĞ ^/ ϯϭďƉƐ ůŽǁĞƌ͘ ,ŽǁĞǀĞƌ͕ ƚŚĞ ŵĂƌŬĞƚ ƌĞďŽƵŶĚĞĚ ŽŶ dƵĞƐĚĂLJ͕ ŵĂũŽƌůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ŐĂŝŶƐ ŝŶ E/' Z/ E Z t Z/ ^ ;нϰ͘ϵйͿ͕ ^d E / ;нϰ͘ϲйͿ ĂŶĚ E' D ;нϬ͘ϰйͿ ǁŚŝĐŚ ĚƌŽǀĞ ƚŚĞ ^/ ϲϴďƉƐ ŚŝŐŚĞƌ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ƚŚĞ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĞĚ ƉŽƐŝƟǀĞůLJ ŽŶ tĞĚŶĞƐĚĂLJ ǁŝƚŚ ƚŚĞ ^/ ƌŝƐŝŶŐ ϱϱďƉƐ ĚƵĞ ďƌŽĂĚͲďĂƐĞĚ ƌĂůůLJ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ͘ dŽ ĐůŽƐĞ ƚŚĞ ǁĞĞŬ͕ ƚŚĞ ŵĂƌŬĞƚ ƐƵƐƚĂŝŶĞĚ ŝƚƐ ƉŽƐŝƟǀĞ ƌƵŶ͕ ƵƉ ϲϮďƉƐ ŽŶ dŚƵƌƐĚĂLJ ĂŐĂŝŶƐƚ ƚŚĞ ďĂĐŬĚƌŽƉ ŽĨ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ ďĞůůǁĞƚŚĞƌ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ƐƚŽĐŬƐ Ͳ E' D ;нϭ͘ϳйͿ͕ t W K ;нϭ͘ϲйͿ ĂŶĚ 'h Z Edz ;нϭ͘ϭйͿ ĂŶĚ E/d, ;нϬ͘ϲйͿ͘
Current Price
Previous Current Price Weighting Change
Price Change YTD
Price Change Index to Date
ROE
ROA
P/E
P/BV
Divinden Earnings d Yield Yield
THISDAY AFRINVEST 40 1,507.08
0.49%
50.7%
50.7%
20.1%
6.3%
6.7x
0.8x
4.1%
11.7%
1
Guaranty Trust Bank PLC
43.00
1.1%
23.1%
74.1%
74.1%
26.0%
4.3%
8.9x
2.2x
4.8%
11.2%
2
Nigerian Brew eries PLC
132.30
-3.9%
9.3%
-10.6%
-10.6%
18.9%
8.6%
32.6x
5.9x
2.7%
3.1%
3
Zenith Bank PLC
24.93
0.6%
13.0%
69.0%
69.0%
21.7%
3.2%
4.9x
1.0x
8.1%
20.3%
4
Dangote Cement PLC
5.8%
249.00
3.3%
6.9%
43.1%
43.1%
30.4%
15.7%
17.2x
4.9x
3.4%
0.0%
7.0%
62.3%
62.3%
78.4%
19.0%
34.3x
22.7x
1.9%
2.9%
4.4%
70.4%
70.4%
15.1%
2.0%
4.0x
0.6x
6.5%
24.9% 22.8%
5
Nestle Nigeria PLC
1,315.00
6
Access Bank PLC
10.00
0.0%
10.00
1.0%
5.6%
122.2%
122.2%
17.2%
2.2%
4.4x
0.7x
7.5%
7.14
2.0%
4.6%
113.1%
113.1%
2.6%
0.3%
11.6x
0.4x
2.8%
8.6%
16.70
-1.6%
2.9%
62.5%
62.5%
-14.6%
-1.3%
0.6x
3.7%
-20.7%
7.5x
2.0%
7
United Bank for Africa PLC
8
FBN Holdings Plc
9
Ecobank Transnational Inc
10
Lafarge Africa PLC
49.80
1.6%
1.9%
28.5%
28.5%
47.1%
9.8%
495.00
0.0%
1.8%
30.3%
30.3%
-12.4%
-6.7%
4.5x
0.6x
22.5%
11
SEPLAT Petroleum Development C
12
Unilever Nigeria PLC
41.76
-0.3%
1.6%
31.2%
31.2%
50.3%
8.4%
25.7x
9.8x
0.2%
3.9%
13
Stanbic IBTC Holdings PLC
42.55
1.8%
3.0%
183.7%
183.7%
28.7%
3.4%
9.8x
2.6x
1.4%
10.2%
14
Guinness Nigeria PLC
97.51
-1.1%
1.3%
24.1%
24.1%
4.5%
1.4%
68.6x
3.4x
0.7%
1.5%
5.99
0.0%
-21.1%
1.3%
27.4%
27.4%
40.7%
4.2%
2.7x
0.6x
45.99
6.5%
0.5%
-45.5%
-45.5%
44.3%
3.7%
11.6x
5.1x
12.0%
8.5x
2.4x
5.0%
11.8%
15
Oando PLC
16
Forte Oil PLC
17
11 PLC
159.65
0.0%
0.4%
-42.8%
-42.8%
32.6%
18
Total Nigeria PLC
241.00
4.8%
0.6%
-19.4%
-19.4%
37.3%
7.4%
9.0x
3.1x
2.6%
11.1%
19
Okomu Oil Palm PLC
67.22
0.0%
1.1%
67.3%
67.3%
37.4%
25.9%
9.0x
2.9x
2.2%
11.1%
20
UAC of Nigeria PLC
17.50
0.0%
0.6%
6.1%
6.1%
6.3%
2.2%
11.2x
0.7x
5.6%
8.9%
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
2.06
3.5%
1.1%
145.2%
145.2%
8.0%
1.1%
1.8x
0.3x
6.8%
55.6%
23
Dangote Sugar Refinery PLC
18.05
2.3%
1.3%
195.4%
195.4%
23.8%
10.3%
7.0x
3.0x
2.8%
14.2%
Flour Mills of Nigeria PLC
33.50
-1.5%
0.8%
81.2%
81.2%
10.4%
2.6%
8.5x
0.8x
3.0%
11.8%
4.1x
0.7x
7.2%
24
ŽŵĞƐƟĐ ƋƵŝƚLJ DĂƌŬĞƚ ZĞǀŝĞǁ ĨŽƌ >ĂƐƚ tĞĞŬ ĂŶĚ KƵƚůŽŽŬ
Monday, December 4, 2017
25
Custodian and Allied Insurance
3.90
-0.8%
0.4%
0.3%
0.3%
18.9%
7.6%
26
7 UP Bottling Co PLC
97.12
5.0%
0.3%
-24.7%
-24.7%
-56.7%
-13.9%
27
Julius Berger Nigeria PLC
28.00
0.0%
0.3%
-27.4%
-27.4%
-12.2%
-1.2%
0.9%
0.4%
4.5%
4.5%
3.8%
0.6%
3.3x
0.1x
37.0% 8.6%
4.7x
24.5% -17.3%
1.5x
-8.1%
28
FCMB Group Plc
1.15
29
Transnational Corp of Nigeria
1.36
-2.2%
0.6%
56.3%
56.3%
19.6%
4.1%
5.4x
0.9x
30
Diamond Bank PLC
1.26
2.4%
0.5%
43.2%
43.2%
2.5%
0.3%
5.1x
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
22.03
-1.0%
0.4%
51.9%
51.9%
11.5%
5.8%
18.8x
2.1x
2.3%
5.3%
33
International Brew eries PLC
60.00
3.7%
0.9%
224.3%
224.3%
24.6%
7.4%
62.8x
14.3x
34
Cadbury Nigeria PLC
12.94
4.9%
0.3%
25.8%
25.8%
4.5%
1.6%
36.9x
2.2x
2.7%
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%
33.93
-0.2%
0.2%
6.0%
6.0%
84.3%
38.5%
14.8x
10.4x
1.00
0.0%
0.2%
31.6%
31.6%
6.1%
0.6%
5.3x
0.3x
36
Chemical and Allied Products P
37
Sterling Bank PLC
38
GlaxoSmithKline Consumer Niger
19.7%
1.6%
6.5%
0.0%
0.3%
44.8%
44.8%
61.2%
23.6%
4.7x
1.7x
1.3%
0.1%
28.7%
28.7%
11.9%
3.9%
10.8x
1.3x
2.3%
1.4%
0.1%
41.4%
41.4%
9.6%
4.4%
8.2x
0.8x
AXA Mansard Insurance PLC
40
Continental Reinsurance PLC
1.40
T o p 10 G a ine r s
6.7% 19.0%
0.0%
39
30.0% 18.4%
22.80 2.15
21.2% 9.3% 12.2%
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 %
Vo lum e
P ric e C hg %
0.70
9.4%
F ID ELIT YB K
117.2
3.5%
45.99
6.5%
FB NH
53.6
2.0%
CCNN
9.87
5.0%
T R A N SC OR P
48.7
-2.2%
WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ďƵůůŝƐŚ ƚŚŝƐ ǁĞĞŬ ĂƐ Ăůů ƚŚĞ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĂĚǀĂŶĐĞĚ td ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ůĞĚ ƚŚĞ ŐĂŝŶĞƌƐ ĐŚĂƌƚ͕ ƵƉ ϭ͘ϱй td ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶƐ ŝŶ D E^ Z ;нϰ͘ϵйͿ ĂŶĚ // K ;нϭ͘ϵйͿ͘ dŚĞ ĂŶŬŝŶŐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƚƌĂŝůĞĚ͕ ƌŝƐŝŶŐ ϭ͘ϰй ĂƉŝĞĐĞ Ͳ ďƵŽLJĞĚ ďLJ ŐĂŝŶƐ ŝŶ &/ >/dz ;нϮϲ͘ϰйͿ͕ 'h Z Edz ;нϮ͘ϰйͿ͕ &KZd ;нϭϱ͘ϬйͿ ĂŶĚ dKd > ;нϰ͘ϴйͿ͘ &ŽůůŽǁŝŶŐ ĐůŽƐĞůLJ ǁĂƐ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ǁŚŝĐŚ ĐůŝŵďĞĚ ϭ͘ϯй td ĂƐ E'^h' Z ;нϭϰ͘ϮйͿ ĂŶĚ E'&>KhZ ;нϭϭ͘ϱйͿ ƌĂůůŝĞĚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ŐĂŝŶĞĚ ϭ͘ϭй ƚŽ ĐůŽƐĞ ŽƵƚ ƚŚĞ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ͕ ďƵŽLJĞĚ ďLJ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ E' D ;нϴ͘ϯйͿ͘
7UP
97.12
5.0%
Z EN IT H B A N K
39.7
0.6%
C A D B UR Y
12.94
4.9%
FCM B
32.2
0.9%
241.00
4.8%
UB A
31.9
1.0%
2.20
4.8%
ST ER LN B A N K
23.7
0.0%
P ric e
P ric e C hg %
T ic k er
Value
P ric e C hg %
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϭ͘ϳdž ;ϯϴ ĂĚǀĂŶĐĞƌƐͬϮϴ ĚĞĐůŝŶĞƌƐͿ ĨƌŽŵ ϭ͘ϰdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ dŚƵƌƐĚĂLJ͘ dŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ƚŚŝƐ ǁĞĞŬ ǁĞƌĞ &/ >/dz ;нϮϭ͘ϮйͿ͕ &KZd ;нϭϱ͘ϬйͿ ĂŶĚ > thE/KE ;нϭϰ͘ϴйͿ ǁŚŝůĞ DK /> ;Ͳϲ͘ϭйͿ͕ hW> ;Ͳϱ͘ϱйͿ ĂŶĚ E /D d, ;Ͳϰ͘ϵйͿ ǁĞƌĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ͘ dŚĞ ƐƚƌŽŶŐ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŵĂƌŬĞƚ ƚŽĚĂLJ͕ ǁŚŝĐŚ ŝƐ ƚŚĞ ŝŶĚĞdž ƌĞďĂůĂŶĐŝŶŐ ĚĂƚĞ ĨŽƌ D^ / &ƌŽŶƟĞƌ DĂƌŬĞƚ ŝŶĚŝĐĞƐ͕ ƉĞƌŚĂƉƐ ŝŶĚŝĐĂƚĞ EŝŐĞƌŝĂ ŚĂĚ Ă ŶĞƚ ŝŶŇŽǁ ŽĨ ĨƵŶĚƐ͘ ůƚŚŽƵŐŚ ǁĞ ĂŶƟĐŝƉĂƚĞ Ă ƐůŝŐŚƚ ƉƵůůďĂĐŬ ŝŶ ĞĂƌůLJ ƚƌĂĚĞƐ ŶĞdžƚ ǁĞĞŬ͕ ĚƵĞ ƚŽ ƉƌŽĮƚͲƚĂŬŝŶŐ͕ ǁĞ ƌĞͲŝƚĞƌĂƚĞ ŽƵƌ ƉŽƐŝƟǀĞ ŶĞĂƌ ƚĞƌŵ ŽƵƚůŽŽŬ ĨŽƌ ƚŚĞ ŵĂƌŬĞƚ ĂƐ ĨƵŶĚ ŵĂŶĂŐĞƌƐ ĐŽŶƟŶƵĞ ƚŽ ƌĞďĂůĂŶĐĞ ƉŽƌƞŽůŝŽƐ ĂŚĞĂĚ ŽĨ ĮƐĐĂů LJĞĂƌͲĞŶĚ͘
C ILEA SIN G
1.34
-5.0%
NB
1606.6
-3.9%
N EIM ET H
0.58
-4.9%
Z EN IT H B A N K
990.7
0.6%
LIN KA SSUR E
0.62
-4.6%
GUA R A N T Y
891.9
1.1%
LEA R N A F R C A
0.93
-4.1%
IN T B R EW
577.8
3.7%
2.39
-4.0%
N EST LE
394.8
0.0%
132.30
-3.9%
FB NH
380.6
2.0% 1.0%
Afrinvest Securities Limited
(RC 603 315)
(A Dealing Member of the Nigerian Stock Exchange)
T ic k er
8.7%
LA WUN ION FO
T OT A L P OR T P A IN T
T ic k er
1.43
4.4%
GUA R A N T Y
20.9
1.1%
N A SC ON
15.95
3.9%
D IA M ON D B N K
18.5
2.4%
IN T B R EW
60.00
3.7%
NB
12.0
-3.9%
C A VER T ON
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 T ic k er
UP L NB N EM
1.41
-3.4%
UB A
317.9
C H A M P ION
2.19
-2.2%
D A N GC EM
252.9
1.7%
T R A N SC OR P
1.36
-2.2%
F ID ELIT YB K
246.1
3.5%
A IIC O
0.55
-1.8%
GUIN N ESS
202.7
-1.1%
Investment Research
Brokerage Ayodeji Ebo | aebo@afrinvest.com
Robert Omotunde | romotunde@afrinvest.com
Bolaji Fajenyo | bfajenyo@afrinvest.com
Omotola Abimbola | oabimbola@afrinvest.com
T H I S D AY MONDAY DECEMBER 4 2017
39
40
T H I S D AY MONDAY DECEMBER 4, 2017
T H I S D AY MONDAY DECEMBER4 2017
41
T H I S D AY Ëž Ëœ Í˛Ëœ Í°ÍŽÍŻÍľ
42
CITYSTRINGS Empowering the Less-privileged
Ă?ĂžĂ“Ă˜Ă‘ Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă‹ĂœĂ–Ă?Ă? Ă”Ă&#x;Ă˜ĂĄĂ‹ Ă—Ă‹Ă“Ă– Ă?Ă’Ă‹ĂœĂ–Ă?Ă?˛ËÔĂ&#x;Ă˜ĂĄĂ‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×
Ehime Alex writes that the Life Value Plus Nest Foundation is providing training for the less-privileged through its free skills acquisition programme
The trainees at the skills acquisition programme
H
aving survived all kinds of hard life- confrontation, dejection, hopelessness from early age: no father, no mother, only to have lived bristly in-between step-mothers before homing on the bridges of Lagos; it became the desire, penchant and passion for Ifeanyichukwu GodsAnchorman, the visionary and founder of Life Value Plus Nest Foundation, to pursue the course of touching and changing the lifestyle of the under privileged in the society pulsate on a daily basis. He has no special talents. He is only passionately curious! Not driven by pride or any such selfimportance to do or accomplish something in life, though life has made him what he is in the circumstance; but he started on a stretch of struggle right from adolescent and living as an orphan, GodsAnchorman could recall back at what he had suffered, and seeing people in similar condition, laments, “It breaks my heart!� It is not surprising that, GodsAnchorman, is the institutor of Life Value Plus Nest Foundation, a skills acquisition outfit in the suburb of Ojodu-Berger, Lagos. A home of succour for the teaching and training of the less-privileged, widows, area boys, prostitutes, drug addicts, handicaps and other street urchins; despaired, dejected, discouraged and frustrated about life and the hope of living a meaningful life. For the umpteenth time in the past four years, he has through the foundation touched the lives of a crop of depressed individu-
als and taken some off the street through seminars, training and teaching programmes where he features reformed ex-prostitutes, area fathers, traditional leaders, police officers, analysts, medical doctors, pastors, and all manners of people who have suffered life frustration.“It is about staying focused to the vision: adding value and potential to life,� GodsAnchorman said. In Lagos alone, he had picked well over 18 area boys off the street, who are better today as skilled workers in vulcanising works. Narrating this feat, the visionary whom his late father, Lion Akajiebe called “Akunobe� (fire heart) said, “I presumed they (street urchins) could learn the profession of vulcanising within three months. So, when I picked them up from the streets, I registered them at a nearby vulcanising workshop for apprenticeship, paid for all the expenses including their feeding, within the next three months or so they would have been through with the apprenticeship. I then buy
I don’t have the money but I have been driven by my passion to train, teach and impact the lives of the less-privileged. The motive is simply to win souls and change the life-style of people
them vulcanising machine and look for a roadside space where they possibly startup. “Quite interesting, well over 11 prostitutes who were formerly sex-workers from different hotels in the city have been impacted and today six of them are married with children. Speaking passionately about it, GodsAnchorman said, “I don’t have the money but I have been driven by my passion to train, teach and impact the lives of the less-privileged.� His passion to affect lives positively seems to have matched the calling for soul winning as the general overseer of God’s Anchormen Mission International. “The motive is simply to win souls and change the life-style of people,� he says. Weeks after weeks, month after months, Life Value Plus Nest Foundation would organise training and skills acquisition programmes. The last time, the foundation threw flex banners around the streets of Ojodu-Berger to organise a six weeks free skills acquisition programme, that was between September and October, 2017, no fewer than than 276 interested persons came from all the nooks and crannies of that locality to be part of it. The training which was thrown open to all and sundry, against its usual interest on special cases, had nursing mothers, pregnant women, widows, young men and women indicating their interest to participate. They came to be trained on various skills acquisition: interior decoration, fashion design, catering, driving, bead making, hat/ cap making, shoe making, child-minding, computer proficiency, insecticides and soap
making, investment training and paint making, among others. It was an eventful six weeks of intensive training on theory and much more on practical, the resident pastor of God’s Anchormen Mission International, Pastor Chris Igbedion said while noting that, “I saw people serious to learn from 9a.m. to 2p.m. for the first session and also continued in the second session till 6.00p.m.� Sharing her happiness after the six weeks training as one of the 120 trainees admitted for the programme, Mrs. Helen Osai, 54, a mother of three, single-mother, and grandmother said she doesn’t want to remain jobless.“I was trained on child-minding, and as a teacher I want to use the skill to establish my own school and affect lives through the knowledge I have acquired.� For Grace Frank, another trainee, she had not only jumped at the free skills acquisition because she had wanted to learn make-up, interior design and hair-making, but also because she didn’t have the money to have gone to learn it. She said, “Where I went to make enquiry to learn the skills, the charges were too much for my family to bear, to my surprise I didn’t pay anything here. Thank God for GodsAnchorman, God bless him.� In a short exhortation, Pastor Banjo Ephraim had during the graduation ceremony held on October 28, 2017 for the trainees, warned that “It is not enough to acquire a skill but to put it to practice.� Talent, wisdom and determination are the three things that make the difference in a successful person, a motivational Pastor, David Elo told the
T H I S D AY Ëž Ëœ Í˛Ëœ Í°ÍŽÍŻÍľ
43
CITYSTRINGS
trainees whilst addressing them. Excited and enthusiastic that he has been inculcated with the skill to make a difference in life, Mr. John Johnson, one of the trainees said he already has plans to setup a soap making business in the coming weeks. He said, “I hope to start my soap making in the coming weeks with the savings and money am sourcing from families and friends.� The foundation is not just training people in skills acquisition but also providing platform through which the trained can have access to fund. Hope was raised for this September batch when they learnt that a U.S. and South Africa partners of the foundation would be giving out a grant ranging from N2 million to N10 million to the lucky ones among them. A representative of Touch Life Global Foundation, a sister organisation, Mr. Martins Abanna, told the trainees during his presentation at the graduation ground. He said, “A minimum of N2 million and maximum of N10 million can be accessed as grants if any of you meets the requirements. All you need is to register with N6,200, have a business plan or idea and you stand a chance of getting the grant which the process is expected to mature within the next three month of your registration,� Abanna added. The Life Value Plus Nest Foundation training was free indeed because from the processes of registration up to the graduation ceremony the foundation had foot the bills, provided needed training materials and even gave light refreshment to the participants during the course of the training. Thus, from as early as 9a.m. to 6p.m. in-between break period the participants learnt one skill or the other in the hands of their carefully contracted instructors. Working as the project supervisor, Mr. Bright Uju observed that teaching adults was like “turning raw materials into finished products. Having taught in Ghana and knowing that there is no hard and fast ways to make a better society than to affect the lives of people who are less opportuned,� Uju added, “I saw commitment and dedication in the students, they showed seriousness in all the activities.� It was his hope that, men and women of substance would leverage on such programmes and in a way save people from becoming perpetual gangsters and prostitutes. The students were able to discover from Amarachi Akinse, one of the instructors that they don’t need much to start something in life. What they needed is “determination�. Take for instance, she said, “The material we used to make accessories are just within our reach. These are things we throw away. For example, you can make a bag out of T-shirt without sowing or buying anything. All you need is just your scissors and the T-shirt.� “We were curious to learn these skills,� some of the trainees voiced. Like every other projects, funding has been one of our major challenges over the years. “We thought this times around we could achieve it with what we budgeted. But before we could say Jack Robinson the budgeted money was spent,� GodsAnchorman said while denying insinuation that he is using the foundation to gain church membership. Another burden according to him was getting and paying instructors. Of the 36 instructors contracted, about eight of them back down at the eleventh hour, so we have to find replacement. However, by November ending, the foundation hopes to take the next batch of its skills acquisition programme to Umuahia, Abia State in South-eastern Nigeria. To them, it is a question of lay the eggs, hatch and nurture it and go round the circle again: lay eggs,
I was trained on childminding, and as a teacher I want to use the skill to establish my own school and affect lives through the knowledge I have acquired
Other trainees at the event
One of the trainees receiving certiďŹ cate of participation
The visionary, GodsAnchorman
hatch and nurture. Just on a continuous basis like that. “We look at our continuity on this programme as a nest. Just like a bird nest. We lay the eggs, hatch it and nurture it. When it grows, we lay other eggs and so on,� GodsAnchorman said. He furthered said that, “until our trainees
gain mastering of the skills learnt, we always urged those who are slow learners to fill continuity form so as to go back to their instructors even after the graduation ceremony to perfect it, whilst calling on government at all levels to play the greater role in rehabilitating and reforming the destitute
in the society. He said, “Let them build free acquisition centres across the states where people can go and be trained on different skills. And let them stop the man-know-man thing we hear of often. If it is free, then let it be free. Let materials be provided and everything be totally free.�
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MONDAY, DECEMBER 4, 2017 ˾ T H I S D AY
47
INTERNATIONAL
email:foreigndesk@thisdaylive.com
N. Korea Blasts ‘Dangerous’ US-South Joint Military Drill North Korea Sunday blasted the United States and South Korea as “warmongers” on the eve of their largest-ever joint air exercise, saying it could trigger a nuclear war, according to AFP. The comments came as White House National Security Advisor H.R McMaster warned of the “increasing” possibility of war with the impoverished but nuclear-
armed North. The five-day Vigilant Ace drill – involving some 230 aircraft including F-22 Raptor stealth jet fighters – begins Monday, five days after the North test-fired an intercontinental ballistic missile believed capable of hitting the US mainland in a fresh challenge to President Donald Trump. The North’s ruling party
Rodong newspaper slammed the upcoming drill. “It is an open, all-out provocation against the DPRK, which may lead to a nuclear war any moment,” it said in an editorial Sunday, using the North’s official name. “The US and South Korean puppet warmongers would be well advised to
bear in mind that their DPRK-targeted military drill will be as foolish as an act precipitating their self-destruction,” it said. The commentary was published a day after Pyongyang’s foreign ministry accused the Trump administration of “begging for nuclear war” by staging what it called the reckless
air drills. McMaster said the possibility of war with the North was “increasing every day”. “I think it’s increasing every day, which means that...we are in a race to be able to solve this problem,” he said at a forum on Saturday. “There are ways to address this problem short
of armed conflict, but it is a race because he’s getting closer and closer, and there’s not much time left,” he said. The North says the Hwasong-15 missile fired Wednesday can be tipped with a “super-large heavy warhead” capable of striking the whole US mainland.
ABC’s Brian Ross Suspended for Erroneous Report on Flynn Zimbabwe’s Mnangagwa Plea Deal Replaces Ministers after
Outcry
Zimbabwe’s new President Emmerson Mnangagwa has replaced two ministers, two days after announcing his cabinet, according to BBC. Critics said the original line-up showed Mr Mnangagwa had no plans to bring real change to the country despite hailing a “new democracy”. The education and labour ministers have now been replaced, ostensibly to comply with a constitutional provision. But military chiefs remain in charge of the foreign affairs and land portfolios. Ten days ago Mr Mnangagwa returned from exile following the military coup against Robert Mugabe, promising to serve all citizens equally. There was uproar when instead of creating a cabinet that included opposition
figures, he appeared to reward the military for its role in bringing him to power. On Saturday, the government announced that two positions were being replaced to “ensure compliance with the constitution and considerations of gender, demography and special needs”. Reports suggest the initial list did not comply with a constitutional provision which limits the number of ministers who are not members of parliament.\ Some opposition supporters celebrated the most high profile decision - the removal of the education minister Lazarus Dokora - arguing that he was responsible for the decline in educational standards over the last few years.
US news network ABC has suspended its chief investigative reporter after he made a “serious error” about Donald Trump’s former top aide, Michael Flynn, according to a BBC report. Brian Ross reported Mr Trump was a candidate when he directed Michael Flynn to make contact with Moscow.
But he later clarified that the orders came when Mr Trump was president-elect. The actions of Mr Trump’s campaign team are under investigation over whether they colluded with Russia to help sway the election in his favour. On Friday, Michael Flynn - who Mr Trump sacked as national security adviser pleaded guilty to lying to
the FBI about his contacts with Russian officials prior to the president’s inauguration in January. As part of a plea bargain, Mr Flynn agreed to co-operate with special prosecutor Robert Mueller’s investigation into possible collusion between the Trump campaign and Russia ahead of the 2016 election. US intelligence agencies
have already concluded that Russian President Vladimir Putin directed a state effort to influence the US election in favour of Mr Trump. President Trump has repeatedly denied any involvement, and tweeted on Sunday that he had never asked former FBI director James Comey to stop the investigation into Mr Flynn.
Met Opera to Investigate Alleged Conductor Teen Abus The Metropolitan Opera announced Saturday it would investigate claims that its music director sexually abused a teenage boy decades ago, as the US avalanche of misconduct allegations spread to classical music, AFP reports. “ We a r e d e e p l y d i s turbed by the news a r t i c l e s t h a t a re b e i n g
published online today about James Levine,” s a i d t h e N e w Yo r k house, one of the world’s most prestigious opera companies. “ We a r e w o r k i n g o n an investigation with outside resources to determine whether charges of sexual misconduct in the 1980s are true, so that we can take appropriate action.”
The probe is based on a 2016 Illinois police report, the Met said. But Levine, now 74, continued to work there until now. He conducted a performance of Verdi’s “Requiem” at the Lincoln Center on Saturday. “At the time, Mr Levine said that the charges were completely false, and we relied upon the further inves-
tigation of the police,” the Met said, referring to last year ’s police report. “We need to determine if these charges are true and, if they are, take appropriate action.” The report indic a t e d L e v i n e’s alleged abuse of the unnamed man began in 1985 when he was 15, according to The New York Times a n d N e w Yo r k Post.
MONDAY, DECEMBER 4, 2017˾ T H I S D AY
48
NEWS
PDP Convention: North Divided over Micro Zoning Group disowns Mantu, Gana
Onyebuchi Ezigbo ÓØ ÌßÔË Barely one week to the national convention of the Peoples Democratic Party (PDP) scheduled for Saturday, the issue of which area among the three zones in the southern part of the country will get national chairmanship slot has created divisions among party stakeholders from the North. While some of the leaders are supporting micro zoning of the chairmanship seat to the South-west, others are stoutly resisting it, saying that the North should not take part in enforcing micro zoning of offices in the South where there is no agreement. The meeting of the PDP Northern Elders and Leaders Forum held at the Ajuji Hotel, Abuja from November 30 to the early hours of Friday, ended in a stalemate with some of the stakeholders rejecting the resolutions. The meeting attended by notable elders and leaders of the party from all the states in the northern region, including former Deputy Senate President, Ibrahim Mantu and Prof. Jerry Gana, was meant to consider the forthcoming national convention. One of the controversial resolutions contained in the communique jointly signed by the former Minister of Education, Mallam Ibrahim Shekarau and
former Speaker of the Benue State House of Assembly, Hon. Margaret Icheen, urged the northern delegates to vote for only chairmanship aspirants from the South-west geo-political zone in the forthcoming national convention. The communique read: “In line with our resolve to rebuild and reposition the PDP, we urge delegates from all the northern states to abide by this decision and vote for only aspirants from the Southwest geo-political zone in the forthcoming national convention, in the best interest of the party. This is without prejudice to the right of aspirants from other geo-political zones to contest. “As we head to the national convention, the forum showed keen interest on the position of the national chairman. After extensive deliberations, it was resolved that in the spirit of fairness, equity, carrying every part of the country along, giving every geo-political zone a sense of participation and inclusion in the affairs of the PDP, we strongly support the quest of the South-west geo-political zone to produce the next national chairman of the party. “The forum directed the geo-political zones to put in place mechanisms to reconcile those that are aggrieved as a result of the micro-zoning in their zone.
“The forum re-emphasised that, rebuilding the confidence of Nigerians on the PDP as we move towards 2019 remain paramount. Therefore, whatever decision that is to be taking should be in tandem with this”. The forum said it received reports from the three geopolitical zones of the region, regarding the micro-zoning of positions zoned to them, in line with the spirit of rotation. However, a PDP Northern youth group has rejected the communiqué, describing the decision to railroad all northern delegates into voting for the South-west candidates as obnoxious. Addressing journalists last Friday, the leader of the
group and son of the former Chief Justice of Nigeria, Hon. Sani Kutigi, accused most leaders of the elders forum of bias in favour of one of the chairmanship candidate. He said: “The latest most obnoxious and objectionable plot is by some party members from the North who have purportedly micro-zoned the national chairmanship of the party to the South-west in a bid to accord undue advantage to a preferred aspirant. This is contrary to the agreed arrangement of the party which has at no time been changed.” He said the group lacks any authority or voice to speak on behalf of the North as a homogeneous entity and is
therefore on its own. While rejecting micro-zoning, Kutigi said the group believed in the sanctity of the larger, more inclusive arrangement which gave Southern Nigeria the position of national chairman of the PDP. “Their action is hereby rejected and totally condemned. Majority of members from the North dissociate themselves from this misadventure which portends unintended consequences if left unchallenged. It is a slap on the face and an insult on the face of Southern Nigerian politicians/ leaders that few members from the North can sit down and determine who to elect. “Party members from the North pledge to support only a free and fair process where
a new national chairman will emerge regardless of which place he comes, so long as he is from any of the states that make up Southern Nigeria. “This decision is to forestall a situation where the action under scrutiny is used to deny certain section a shot at the offices as currently zoned through a dubious and undemocratic means of micro-zoning. “Finally, if the party must reinvent itself as the true vanguard of democracy in Nigeria, it should not allow certain elements to hijack and abuse due process in the up coming national convention as this will only amount to going back to an inglorious past that we’ll rather forget,” he said.
Medview to Provide Visa to Dubai-bound Passengers Chinedu Eze Nigeria’s rising carrier, Medview Airline, which would debut its Lagos-Dubai route on Thursday, has promised to assist passengers travelling to that destination with visa. The airline said it had concluded all arrangements for December 7, 2017 inaugural flight to Dubai from Lagos via Abuja The airline CEO, Alhaji Muneer Bankole at the weekend commended the Federal Ministry of Aviation, government parastatals, travel
agencies and passengers who have keyed into the airline inaugural flight and assured them that the carrier was committed to a dedicated service on the route. He said the airline package for tourists to Dubai include airfare, visa, accommodation and tour guides at reasonable rates, adding that there are various packages for traders and business travellers. Bankole said economy passengers would enjoy a two-piece baggage allowance of 25 kg each, while Business Class would enjoy three pieces.
Advocaat Wins Law Firm of the Year Award Advocaat Law Practice (ALP) has been adjudged as the “Law Firm of the Year, Small Practice” at the recently held ESQ Nigerian Legal Awards in Lagos. Messrs. Ola Alokolaro and Rotimi Akapo, two of the firm’s partners, received the award on behalf of the firm. The firm also received nominations in the Energy and Power and Project Finance categories of the award. Commenting on the award, Mr. Alokolaro, who leads the Energy and Infrastructure practice group of the firm said “The nominations and more importantly the award is a testament to the hard work,
dynamism and professionalism that the firm brings to the services it provides to its client. Mr. Akapo who leads the Telecommunications, Media and Technology practice group of the firm said, “the firm was delighted by the recognition and that the award would further motivate the firm to aspire to greater heights and continue to go from strength to strength. Advocaat Law Practice (ALP) is a full service commercial Law Firm based in Lagos, comprising of five practice groups namely: Energy & Infrastructure, Telecommunication, Media and Technology, Corporate & Commercial, Financing and Dispute Resolution.
REACHING OUT TO THE LESS-PRIVILEGED
Lagos State Governor, Mr. Akinwunmi Ambode (left); being greeted by physically challenged, during the Year 2017 International Day of persons living with disabilities in Alausa, Ikeja....yesterday
Ade-Ojo: Nigeria’s Auto Industry Expected to Grow by 5% in 2018 Bennett Oghifo The nation’s auto industry is expected to grow by about five per cent next year after the market closed with a drop of 48 per cent in sale of brand new vehicles in the third quarter of this year, from about 14,500 units in 2016 to about 7,000 units at the end of the third quarter of this year. The Managing Director of Toyota Nigeria Limited (TNL), Mr. Kunle Ade-Ojo, gave these figures at the company’s quarterly review of the nation’s auto market, held at its headquarters in Lagos at the weekend. According to Ade-Ojo, “We are forecasting that the auto market will grow 5 per cent. I say this because of the easing that we are beginning to see. If you look at the ratio sales of vehicles; most sales were more of commercial vehicles than of passenger vehicles. “In 2018, we hope to see a bit of balancing with the recovery of passenger vehicles. This year, a lot of companies
were very careful because of the economic recession. They buy vehicles that would help improve productivity of their businesses. As the economy improves, so will there be balancing of sales across the models and vehicle segments. A more realistic growth will be experienced next year. However, there are risks. As 2018 budget is signed into law, we might begin to see some marginal activities in businesses. We are hoping that there will be an improvement generally.” He stated that “from the importation point of view, there is a slight improvement because in first quarter (of 2017), we had about 90 per cent drop but as at the third quarter now, the drop has reduced to 62 per cent. “We imported about 2,300 as at Q3 ending (of 2017) and 6,100 as at Q3 of 2016. We had a drop of 62 per cent in the import.” Ade-Ojo also presented his company’s outlook in the period under review, saying, “As at the end of third quarter (of 2017), our market share was about 22 per cent of the brand new
vehicles sales (in the country) but we are hoping to bring it to about 24 per cent at the end of the year. We are however, forecasting to end it at about 9,000 units of vehicles.” The number one selling model for Toyota, he said was the Hilux, which contributes about 60 to 70 per cent of sales, explaining that TNL sold about 1,200 Hilux out of about 1,900 vehicle sales. He said the Avensis and Hiace came next but that the Hiace did not do well as it used to because transporters now retained their vehicles for longer periods on account of the poor economy that prevents regular fleet change. He said: “What we noticed this year was that as a result of the state of the economy and the cost of acquiring these vehicles, transporters are beginning to use the vehicles they have for much longer and what they are doing also is to invest more in after sales service. “One of the things we tried to do with some of these transporters is to work with
them in terms of how to manage their fleet much better; the maintenance of the fleet so that they can use it for much longer. “However, we are beginning to see changes and most of the changes would come up next year. As we move towards the end of the year, we have demand for Hiace and there are some indications during the year which shows that there is improvement in the purchases of Hiace and we are forecasting that between now and next year, the product would be much more available.” Presenting the ratio of the vehicle sales, he said most of the sales were more of commercial vehicles compared to sale of passenger cars, but that “by next year, we hope to see a bit of recovery in the passenger vehicle segment whereby we would see a balancing in the ratio of commercial to passenger sale.” Ade-Ojo said, “Next year, the Hilux would not be contributing the high level it did this year.”
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MONDAY, DECEMBER 4, 2017˾ T H I S D AY
PDP CHAIRMANSHIP RACE…
PDP CHAIRMANSHIP RACE…
Jonathan: PDP will Emerge Stronger from National Convention Our Correspondents
Former President Goodluck Jonathan has declared that the Peoples Democratic Party (PDP) would become solid after the successful conclusion of the December 9 National Convention. Addressing journalists after a visit to the Rivers State Governor, Nyesom Wike, at the Government House Port Harcourt yesterday, Jonathan said an elected National Working Committee would set in motion the preparation for the 2019 general elections. He said: “God willing, we will go through the national convention and the party will become solid. “You know we have a cretaker committee. When you have a caretaker committee, you are not as strong as a fully elected chairman. The party passed through some challenges. Luckily for us, we have passed through that phase with the pronouncement of the Supreme Court “. “We want to formally elect the officials of the party that will lead the party to the 2019 elections. I am very hopeful that on December 9 we will elect our leaders.”
National Chairmanship, South-west Agenda, Says Daniel Erstwhile Ogun State governor, Otunba Gbenga Daniel, yesterday declared that the race for the Peoples Democratic Party (PDP) national chairmanship has gone beyond individual interest but has become a South-west agenda. Daniel, a frontline aspirant for the PDP chairmanship contest, also claimed that his aspiration had the backing of former Military President, General Ibrahim Babangida, and former President Goodluck Jonathan, as well as other prominent leaders of the party. The former governor spoke in Abeokuta at a meeting with leaders and delegates of Ogun PDP where he solicited their votes ahead of the party’s national convention scheduled for Saturday, December 9, in Abuja. Notable leaders at the meeting included former deputy governor, Alhaja Salmot Badru, Senator Lekan Mustapha, Prince Gboyega Isiaka, Akinrogun Tunde Odanye, Mrs. Iyabo Apampa, Hon. Kayode Amusan, Chief Remi Bakare, Hon. Titi Gomez, Hon. Sikirulai Ogundele and Hon. Durotolu Bankole. Daniel, who stated that 2015 electoral loss was a major blow to the PDP, said the party now requires a capable leader to rebrand and reorganise it for victory in the 2019 general elections. He disclosed that he decided to vie for the PDP chairmanship with the objective of repositioning the party. Daniel contended further that the South-west must be allowed to produce the next national chairman, in order to firm up the zone as a power base, while also expressing confidence in his ability to win. While canvassing support for the South-west bid, Daniel said such consideration was needed for PDP to retain Ekiti State and win Osun State in next year’s gubernatorial elections in the two states. Earlier in their separate remarks, Odanye, Isiaka, Mustapha, Apampa and Badru expressed confidence in the ability of the former governor, whom they described as great mobiliser and meticulous planner. They assured him of unflinching support by delegates from the state, promising to also canvass more votes for him at the national convention.
Kashamu: Let South-west Produce Chairman to Save Party Senator representing Ogun West senatorial district in the National Assembly, Buruji Kashamu, has called on all, stakeholders of the PDP; founding fathers, governors and delegates, to ensure the emergence of the chairman from the South-west to save the party. According to him, that was the agreement reached ahead of the party’s botched Port Harcourt convention. Kashamu stated this in a statement yesterday, chronicling the detailed perceived intrigues working against the interest of the region, allegedly being orchestrated by the national caretaker chairman of the party, Senator Ahmed Makarfi. He accused the national caretaker committee of attempt to manipulate the forthcoming convention to satisfy a micro interest that could derail the on-going reconciliation process at bringing the party back into reckoning stronger. He said it was frustrating that rather than working for the convention to finally heal the wound of the party from the last election, some governors and the national chairman of the party were busy perfecting plans to suit their personal interest against the general interest of millions of party members nationwide. According to Kashamu, “I urge our existing founding fathers, all PDP party men and women , convention delegates from the entire North, the South-east, South-west and South South including Governor Wike himself, to allow the voice of reason prevail and allow the emergence of the first-ever South-west national chairman of the PDP as previously agreed pre-Port Harcourt convention. Let’s jointly and severally prevent the hijacking of the PDP which, more likely than not, would lead to her dismemberment.” He alleged that signals from the national caretaker committee towards the upcoming convention portends danger for the resurgence of the party.
L-R: Peoples Democratic Party (PDP) National Chairmanship Aspirant, Chief Raymond Dokpesi; Rivers State Governor, Nyesom Ezenwo Wike; and state PDP Chairman, Felix Obuah, during the courtesy visit by national chairmanship aspirant at the Government House Port Harcourt...yesterday.
We are Working for the Emergence of a National Chairman to Achieve Victory in 2019, Says Wike Rivers State Governor, Nyesom Ezenwo Wike has declared that the leaders and members of the Peoples Democratic Party (PDP) are working for the emergence of a national chairman who will drive the party to electoral victory in 2019. He said all stakeholders are building to re-position the PDP, noting that no zone has been left out in the political equation. Speaking when he granted audience to a national chairmanship aspirant of the PDP, Chief Raymond Dokpesi at the Government House Port Harcourt yesterday, Wike also berated those calling for the micro-zoning of the national chairmanship position . He said the position was zoned to the entire South. He said: “No region has been left out. PDP is not in power. PDP is an opposition party. We are working for a chairman that will drive PDP and make PDP to win elections. “The chairman is not going to share contracts to any zone for you to say a particular zone is left out. It is only when a government is formed that you talk about a zone being left out” He said that he will join other stakeholders to ensure that PDP emerges victorious in future elections. The governor charged PDP members to remain vigilant as APC is working round the clock to sow seeds of discord amongst party members. He reiterated that he has no intention to vie for the position of vice president , saying that as a first term governor he is focused on the delivery of good governance to Rivers people. He urged national chairmanship aspirants to use their campaigns to mobilise for the party. Earlier, national chairmanship aspirant, Dokpesi called for the creation of level playing field for all aspirants. He said that only the best candidate should emerge to lead the PDP after the national convention. He solicited the support of the Rivers State Governor and Rivers delegates of the PDP to the national convention.
Secondus: Bode George is My Boss Prince Uche Secundus yesterday said Chief Bode George remains his boss even if both of them are vying for the national chairmanship of the party, Secondus said this at the Lagos state secretariat of the Peoples Democratic Party (PDP) where he declared his intention to contest the position of the national chairman of the party. He eulogised George as a man of timber and calibre from Lagos State who is also vying for the position of chairman as himself, but said that he would support him (George) if he wins on Saturday. According to him, “We have a vision to rebuild our party, to reposition It and to recover lost ground. We are selling our vision to the people of Nigeria especially the people of Lagos. We aren’t involved in mudslinging or bring down syndrome or blackmail. “What counts at the end of the day is what you want to do that is new. We cannot be involved in attacking each other. Our daddy, Bode George is my boss and father to us all. I believe that the choice is left for the people to make. I also believe that he is competent and able to lead the party. If he is the people’s choice, I will give him my support. Every individual is allowed to make a choice. Nobody will be forced to vote for aspirants. Everybody should vote freely. “Our intention is to empower the state chapters. We want to give the state chapters the opportunity to take their destiny in their hands by choosing their candidates. We will move to the local and ward chapters and return the party to the people. Responding, the state Chairman of the party, Mr. Moshood
Salvador made it clear that the state chapter of the party has George as it project and candidate. “We appreciate your recognition of George as your boss and leader and recognise that we also have him as our project. I am one of the advocates for the zoning of the position to the South-west.
South-west Youths Woo Northern Delegates Coalition of Peoples Democratic Party (PDP) youths from all the six states in the zone has appealed to the delegates from the 19 northern states to vote for a chairmanship aspirant from the zone during the December 9 national convention of the party. The youths insisted that the party must vote for one of the aspirants from the south-west to lead the party to the promise land, saying any attempt to pick the occupant from either the South-east or the South-south would boomerang . The youths said this in Ado Ekiti at the weekend after a two-day meeting of the caucus on the forthcoming PDP convention. The communiqué was signed by Akeem Saliu Dennis, Ogedengbe Olusegun from Ekiti, Igbekele Odunayo and Folorunso Isaac for Lagos , Ismaila Yusuf and Ganeey Idowu for Oyo, Aghedo Benedict and Akinsetan Akinola for Ondo , Taofeek Kareem and Olaoluwa Funmilayo for Osun and Solana Ajisafe and Bolarin Ibitoye Peter for Ogun respectively. Those eyeing the seat from the zone are: Professors Tunde Adeniran and Taoheed Adedoja, former Governor Gbenga Daniel, Mr. Jimi Agbaje, Chief Bode George, among others. The communiqué reiterated the need for the party to stop some PDP leaders in the South-west , who are allegedly working to sabotage the zone for the sake of their vice presidential ambition. The coalition praised the northerners for standing by the truth reiterating their belief in the micro zoning of the chairmanship slot, saying this will help to cement the bond of unity across Nigeria and make the PDP a formidable opposition that can win elections in 2019.
I Consulted Anenih, Ikimi, Others, Says Dokpesi One of the aspirants for the national chairmanship of the PDP Chief Raymond Dokpesi, at the weekend disclosed that his interest has been blessed by the former Board of Trustee (BoT) Chairman, Chief Tony Anenih. He also said he consulted with Senator Isa Braima and Pastor Osagie Ize-Iyamu, the party governorship candidate in the 2016 governorship election; former Foreign Affairs Minister, Chief Tom Ikimi and other chieftains before contesting for the position of the national chairman of the party. Dokpesi who stated this during his visit to the Edo State PDP secretariat in Benin City ahead of the party’s national’s convention, said his inability to reach out to everyone in the party was not to spite them. “As part of the consultation, the state chairman is here, I came down, I saw our leading father in this party, in Nigeria and Edo State in particular, Chief Tony Anenih. “We consulted with our governorship candidate, Pastor Osagie Ize-Iyamu, I consulted with the state chairman here also. I consulted with Chief Tomi Ikimi, I consulted with Alhaji Isa Braima, Chief Ozeto, all of the elders”, he said On his part, the state party Chairman, Chief Dan Orbih, while responding to insinuations from certain quarters that he has not accompanied the national chairmanship aspirant of the party to campaigns and solicit votes, said he deliberately did not join in his campaign tour as other aspirants were not equally a c c o m p a n i e d b y t h e i r o w n s t a t e s party chairmen.
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Turai Yar’Adua’s Abuja Cancer Centre Turned to Beans Farm Mrs. Turai Yar’Adua, wife of late former President, Umaru Musa Yar’Adua, once had a grand dream to build a cancer centre in the Nigerian capital that will cater especially for the poor. On July 18, 2009, she assembled the Nigerian rich and government contractors to a fundraising in Abuja, which was also attended by his usually taciturn husband, battling some complicated diseases at the time. “My resolve to stand up to the menace of cancer is occasioned by the devastating effects of the disease on our population. The more enlightened and financially capable among Nigerians suffering from cancer have been able to travel out to seek professional and medical attention in the form of diagnosis and treatments,” Turai said. Financial pledges made by the galaxy of guests to actualise her dream amounted to N6.8 billion. The International Cancer Centre, (ICC) Abuja was born. But since then, apart from the imposing structure on the Umaru Yar’Adua Express Road, the project is now virtually abandoned. One of the security guards at
the ICC who simply identified himself as Garba confirmed the abandonment. He said there had been no activities to actualise the centre, as envisioned by Turai Yar’Adua. According to him, Turai came two times in 2016 to the site. She had not been seen around the area since then. “We have not seen her this year, but some people often come around to see the progress of the place,” he said. Garba said some bandits invaded the ICC last year to dispossess them of their valuables, adding that few items belonging to the centre were also stolen. He added that some policemen from the Special Anti Robbery Squad (SARS) had since been deployed to secure the ICC against further attacks. “Six of us were employed to secure this place and we do alternate, but because the bandits were fully armed, they overpowered us and beat the security guards. The desolate centre was more palpable at a park for scores of tricycles meant to be conveying patients. Weeds have swamped the tricycles. Worried by the delay in
completing the ICC, residents of Abuja have called for a revamp of the project that was championed by the wife of former President Yar’Adua, for health delivery to the vulnerable in the country. Mr Gabriel Oluwabunmi, an Abuja resident berated those responsible for the abandoned project, adding that such noble idea that could bring relief to the masses, should have been completed without the usual hiccup. He called on the authorities to ensure that the project was resuscitated, adding that such cancer centre would help bring succour to those ravaged by the disease and especially those who could not afford to be flown abroad.
Ngozi Chukwuma, whose relative is suffering from cancer called on the federal government to ensure the completion of the centre to enable Nigerians who could not afford overseas treatment patronise it. She said that such project would go a long way in assuaging the feeling of Nigerians who could not afford the treatment as a result of heavy monetary demand. The News Agency of Nigeria (NAN) reported that Mrs. Yar’adua had in her speech during the launch of the centre said the whole idea of establishing the cancer centre was conceived out of her desire to contribute her quota to achieving standard healthcare delivery for the vulnerable.
According to her, the centre would specifically render services to women and children, especially the rural and urban poor. When NAN visited the National Hospital Abuja which is offering an alternative treatment to cancer patients, the staff appeared so overwhelmed with the huge number of cancer patients. It reported that some of the banners pasted on the wall of the national hospital, cancer patient ward offers a ray of hope to some who might have lost hope of recovering from the disease. The banners read: “Cancer is a word not a sentence, “At any given moment you have the power to say this is not how the story is going to end,” “We
must embrace pain and burn it as fuel for our journey,” among others. A cancer patient who craved anonymity called on the federal government to assist in revamping the centre, adding that this would go a long way in decongesting the national hospital from cancer patients with special attention. According to the patient, the number of people patronising the National Hospital will ease off because the country now has a special centre dedicated to the treatment of cancer. Mr. Mohammed Lawal, an Abuja-based businessman called on the government not to abandon the centre, adding that though it was a private initiative; the government could
Nigerian Media Stakeholders Set up Committees on 2018 IPI World Congress Preparations for Nigeria’s hosting of the 2018 World Congress and General Assembly of the International Press Institute (IPI) have kicked off with the constitution of nine planning committees. The committees, set up at an extraordinary meeting of Nigerian media stakeholders held on November 28, 2017, in Lagos are: the Local Organising Committee (LOC) and the committees on Finance; Sponsorship; Programme and Events; Media and Publicity; Transport and Logistics; Contact and Protocol; Venue and Accommodation; and Security. A statement signed by the Secretary of the LOC, Raheem Adedoyin, said the LOC is headed by the President of the Newspaper Proprietors’ Association of Nigeria (NPAN), Mr. Nduka Obaigbena, with Mallam Kabiru Yusuf and Mallam Garba Shehu as Deputy Chairmen. He himself, as the Secretary of IPI Nigeria, would serve as Member/ Secretary. Speaking at the stakeholders’ meeting, LOC Chairman, Obaigbena, said the Nigerian media was ready to host the world. “We have the whole world to host in six months; and we are prepared to host the world in six months, to showcase the best of Nigeria and the best of Africa,” he said. Obaigbena also promised that the host committee “would promote an agenda on issues that matter to us( Nigerians) and that matter to Africa.” The committees are to meet in December to fashion out a work plan and submit their reports to
the LOC in January. Other members of the LOC are Mallam Ismaila Isa, Asiwaju Bola Ahmed Tinubu, Mallam Wada Maida, Lady Maiden Ibru, Dr. Kalu Orji Kalu, Mr. Sam NdaIsaiah, Mr. John Momoh, Mallam Yakubu Muhamned, Mr. Bayo Onanuga, Dr. Tonnie Iredia, Sir Folu Olamiti. Also in the LOC are Mrs Funke Egbemode, Mr. Waheed Odusile, Mr. Victor Ifijeh, Mr. Emma Agu, Mallam Mohamned Idris and Mr. Eric Osagie. Heads of the other committees, their deputies and secretaries are: Finance: Mallam Ismaila Isa Chairman), Mallam Kabiru Yusuf( deputy chair), Mr. Waheed Odusile( Member/ Secretary); Sponsorship: Bola Ahmed Tinubu (Chair), Obaigbena ( Deputy Chair), Victoria Ibanga (Member/ Secretary); Programme and Events: Mallam Kabiru Yusuf( Chair), Mr. Eniola Bello (Deputy Chair), Tracia Ubani (Member/Secretary); and Transportation and Logistics: Sir Folu Olamiti ( Chair), Mr. Nnamdi Njemanze( deputy chair), Dr. Qasim Akinreti( Member/ Secretary) Other committees and their members are: Media and Publicity: Dr. Tonnie Iredia (Chairman), Mr. Eric Osagie (Deputy Chair), Mr. Yemi Ajayi (Member/Secretary); Contact and Protocol Mallam Garba Shehu (Chair), Mrs Comfort Obi (Deputy Chair), Hajia H.H. Sanni (Member/ Secretary); Venue/Accommodation: Mallam Wada Maida (Chair), Mrs Funke Egbemode (Deputy chair), Catherine Agbo (Member/ Secretary); Security: Mallam Idris Mohammed (Chair), Mr. Madu Onuorah (Deputy Chair), Madam Rafat Salami (Member/ Secretary).
WELCOME ON BOARD
L-R: Director General of NAFDAC, Christiana Moji Adeyeye; Director Special Duties , Dr. Abubakar Jimoh; former acting Director General, Mr. Ademola Mogbojuri; and Director, Veterinary Medicine and Aliant Products Directorate, Dr. Ali Bukar Usman, during the formal resumption of duty by new Director General of the agency in Abuja...recently
Alex Otti Oils Campaign Machine, Opens Zonal Office in Aba Emmanuel Ugwu ÓØ ×ßËÒÓË Leader of the All Progressives Grand Alliance (APGA) in Abia State, Mr. Alex Otti, at the weekend erased any doubt about his intention to take another shot at government house Umuahia in 2019 as he opened a zonal office of Abia First, his campaign platform at the commercial city of Abia. He told his enthusiastic supporters that 2019 was already at hand contrary to the erroneous belief of some politicians who after the 2015 general election thought that the next election year was light years away only to wake up and discover that tomorrow has come. The campaign office, which was committed to God in prayers by a former member of House of Representatives, Hon Nnanna Ngwu, who is also the BoT Chairman of Abia First, was formally declared open by Otti before he proceeded to address his supporters.
Otti, who was the governorship flagbearer of APGA in 2015, noted that most of the people that played “dirty politics” in the hope that 2019 would never come were now regretting their actions due to the “poor performance” of the PDP led government in the state. He said Abia was still suffering from arrested development hence he has been vindicated along with millions of Abians that believed in his capability to turn God’s own state around for the better. However the former bank boss told his supporters that the desired change would not come by mere wishful thinking, adding that they must obtain their permanent voters cards (PVCs) “which remain the greatest weapon to end misgovernance and suffering in Abia.” He promised that come 2019 he would lead APGA in Abia to accomplish the kind of electoral feat the
party recorded in Anambra State where Governor Willie Obiano thrashed his formidable opponents in the November 11, 2017 governorship poll. Otti explained that the zonal campaign office located along Okigwe road Aba was meant to serve the needs his supporters and to coordinate his political activities in Abia South zone comprising Ukwa East, Ukwa West, Aba North, Aba South Ugwunagbo and Obingwa local governments. He lauded his supporters and indeed Aba people for their sustained love and solidarity, and for trooping in large numbers to witness the campaign office While fielding questions from journalists later, Otti dismissed as minor issue and normal political development when reminded of the rather worrisome developments in his party, especially the defections of APGA members in Abia as well as an existing factional group
within the party. He argued that even in families, misunderstanding do occur how much more political party hence the happenings in APGA were not something that should make loyal APGA faithful to lose their sleep. The former APGA governorship candidate further stated that defectors that found solace in his party posed no threat to his 2019 gubernatorial ambition, adding that if such persons have ambition to vie for the party’s ticket it would be a welcome development as long as party constitution is respected in the contest. He also said he was ready to take all comers in the 2019 governorship contest as he and APGA fought against tough opponents in 2015 and really performed well, adding that he remains an apostle of healthy political competition as it helps to bring out the best in the candidates.
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Non-Teaching Varsity Staff Resume Strike over FG’s Failure to Pay N23bn, Honour Agreement Senator Iroegbu ÓØ ÌßÔË The non-academic staff of Nigerian universities at midnight yesterday resumed their indefinite strike across the country. The strike is the continuation of the earlier industrial action embarked upon by the Joint Action Committee (JAC) of the Senior Staff Association of Nigerian Universities (SSANU), Non-Academic Staff Union of Universities (NASU) and National Association of Academic Technologists (NAAT) on September 11, 2017. The National President (SSANU) and Chairman JAC, Samson Ugwoke, announced in a statement yesterday that the decision was in response to the failure of the federal government to honour the 10-points agreement reached with them on September 20, 2017. Ugwoke said: “You will recall that we addressed a press conference on September 21, 2017, where we informed you that in one months’ time, we shall be reviewing the level of compliance with the agreement and shall not hesitate to resume the strike
action if government reneges on the agreements reached or delays in any aspects. It was following that press conference, that we directed our members to resume work on September 25, 2017. “It is therefore sad to report that over two months after the MoU was signed, the situation that warranted the strike in September remains the same. Nothing has changed. In line with our decision to review the position after a month, we note most painfully, that none of the matters that prompted the strike action has been addressed. Rather, it appears that government through its officials have decided to orchestrate an evil plot to factionalise the university, cause disharmony and disaffection within the system, thereby destroying the emerging industrial peace we have been witnessing in recent times.” He highlighted some of their grievances as articulated in the 10-point agreement including non-payment of earned allowances noting that “an understanding was reached with the federal government that the N23billion earmarked for earned allowances was for
the payment of the second tranche of arrears of earned allowances for both teaching and non-teaching staff in the university system. To our consternation and utter dismay, he said, the N23billion has clearly been shown to be a payment for the Academic Staff Union of Universities (ASUU) for their so called “Earned Academic Allowances”, while the three non-teaching staff unions were allocated a paltry N4.6billion (11 per cent). Ugwoke also listed as one of the grievances, the non-release of call circular in compliance with National Industrial Court (NIC) Judgement, which in the MoU signed on the September 20, 2017, “it was clearly stated that the National Salaries, Incomes and Wages Commission would ensure that the process of issuing a service wide circular
in compliance with the NIC judgement would be completed within four weeks from the date of that meeting.” The unionist leaders also complained of shortfall in salary payments, stressing that “nothing has changed.” “It is true that during the negotiations and before the MoU was signed, we were given some mandates to sight. Two months after, it is clear to us that those mandates were dud and were products of smartness to con us into believing that the era of fractionalised salaries for our members were over. Till today, our members still experience payments in fractions of their salaries, while arrears have not been paid. Between September 2017 and now, nothing has changed,” he said. He listed the other issues which led to the strike to include:
Lack of good governance, poor funding of education as against UNESCO’s recommendation, inadequate infrastructure and abandoned projects, nonregistration of NUPEMCO, non-implementation of CONTISS 14 and 15 for technologists, and corruption in the Nigerian university system He stated that “having considered the sorry situation we find ourselves vis-a-vis the brazen injustice being meted out to us, and the refusal of government to respect the contents of the Memorandum of Terms of Settlements reached with our unions on the September 20, 2017, we are constrained to inform you that effective 12 midnight of December 3, 2017, the JAC of NAAT, NASU and SSANU shall be resuming its earlier suspended strike.
“The strike action shall be comprehensive and total. There shall be no provision of services either skeletal or ad hoc basis.” Ugwoke however, explained that the “strike, like others before it, is not our making or desire”, adding that “no responsible union goes on strike without considering its implications on the system. However, we find ourselves in a sorry plight where strike appears to be the only option.” He said they cannot continue to sit by, while they are humiliated and cheated out of allowances that they have earned, neither shall they sit back and allow their “members who have been laid off owing to the infamous budget call circular that directed that they should be removed from the payrolls of the universities.”
Aero to Expand Ownership as Its MRO Attracts Investors Chinedu Eze Nigeria’s foremost airline, Aero Contractors, has concluded plans to sell part of its stakes to core investors in its bid to attract more money to fund its aircraft acquisition and boost its maintenance facility. THISDAY learnt that the airline’s Maintenance, Repair and Overhaul (MRO) facility has opened a new source of huge revenue which is now attracting investors who wish to buy into the company, eyeing the profitability of its maintenance session. The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, who confirmed the development at the weekend, said the company shortlisted 90 interested investors, reviewed their quest and narrowed it down to six and at the end would have the preferred bidder, second preferred bidder and the standby bidder. Currently the airline is owned by the Asset Management Corporation of Nigeria (AMCON), which is a major stakeholder and has about 60 per cent of the stakes, while legacy stakeholders, owned by companies from the Ibru family is about 40 per cent, but it is expected that these stakes would be diluted with the coming of the investor, which would be given overall controlling shares that could be as high as 90 per cent. “We are in the process of selecting a core investor and I think by the end of the process, we would have three - the preferred bidder, second preferred bidder and the standby bidder. They would be investing into Aero Contractors as a whole because
Aero Contractors share would be diluted. “They would not buy into the shares but it would be diluted and so they would acquire the shares. Their investment would be to acquire more shares in Aero Contractors. We have two shareholders now, which are AMCON and the legacy shareholders. So AMCON and legacy shareholders shares would be diluted in order for the core investors to come in and have shares,” Sanusi said. The CEO said the maintenance session of the company is becoming a huge source of revenue for the company and because the facility is promising it has attracted many who wanted to invest in Nigeria’s oldest commercial airline. The Aero CEO said the company aims to develop the MRO to a level that it would be able to carry out line maintenance for all aircraft types operating in Nigeria and that is in addition to the present level that it carries out maintenance checks on Boeing B737 Classics to C-Check level. He said South African Technik, A.J Walters of the United Kingdom and Ethiopian Technik have partnered the organisation in a bid to assist in developing the MRO. The airline has also given assurance to the workers who were relieved of their duties earlier in the year and put on redundancy by the airline, saying that many of them would be re-absorbed. In fact, Aero has started re-absorbing some of them, as the technical personnel among them had gone back to work at the airline’s maintenance facility.
UNIVERSITY QUEEN Wife of the Rivers State Governor, Justice Eberechi Suzzette Nyesom-Wike (left), crowning the winner of Miss University Africa Beauty Pageant 2017, Miss Lorriane Nadal of Mauritius at the Obi Wali Cultural Centre in Port Harcourt....yesterday
Nigerians Decry Impunity by SARS, Ask FG, N’Assembly to Scrap It Lagos CP, police complaints unit react Chiemelie Ezeobi Apparently fed up with the increasing impunity of officers of the Special Anti Robbery Squad (SARS) of the Nigeria Police have gone about their duties, Nigerians from all works of life have begun a social media drive aimed at scraping the unit. The demand to scrap SARS is being championed by the hashtag #EndSARS and is dominated by hundreds of complaints of people who have either fallen victim to the squad or their family members. The hashtag was littered with complaints of wanton and illegal arrests, acts of extrajudicial killings, physical assaults, intimidation, accusations of fraud and forcefully dispossessing people of their money and properties. Already, a petition has been started on citizengo.org tasking the federal government, the National Assembly and the police to put a stop to the reign of impunity. The campaign which was started by Segun Awosanya read this: “For over 10 years now the growing criminal activities of the
Nigeria Police with emphasis on the SARS across Nigeria has been a topical discourse, until recently when it took a deadly turn. “Thousands of reports pour in daily on the activities of these deadly and lawless bunch (SARS), with evidence backed accusations of extra judicial killings, robberies at gun point and torture. “The Nigeria Police set up to protect the people are now a major threat to our society, torturing (youthful) victims with complete impunity while instilling a toxic climate of fear, intimidation and corruption. “The social media is awash with eyewitness reports as well as victim accounts of this seeming legal racket across Nigerian states. “The pattern of human rights violations where victims are arrested and tortured until they either make a false confession to free themselves and/or be marched to an ATM machine to cough out a huge sum as bribe as a mandatory condition for release. “Our youths are now endangered and more cases of
extortion, torture and extra judicial killings (after which victims are labelled as cultists or robbers) are on the rise on the daily. “There seem to be a huge cover up here and the undersigned citizens call upon the Nigerians legislature for an immediate intervention. “A few commissioners of police have been helpful (case in point, Lagos) leading to the apprehension of some of these criminals with subsequent charges by competent courts but there’s a lot more work to be done as more cases surface even as we speak.” In another petition to the National Assembly he said, “The activities of the SARS across Nigeria is tainting the image of the Nigerian Police. We have been following up on diverse cases for over two years now and we must say that it has since escalated to an alarming rate. “The public feedback on social media as well as editorials in the print media is alarming to the point that it seems we have the very same criminals in the society in the police as we speak and this
calls for the declaration of a State of Emergency on our policing. “On behalf of Nigerians under siege and those who are not lucky enough to survive the onslaught of the SARS, may we humbly ask that you address this? “It will go a long way for citizens to know you are listening and that they have at least representation at the helms that understand the duty of care our leaders owe to the people. “Our hearts are broken as we speak with the feedbacks received across Nigeria on SARS’ illegal and exploitative activities with impunity. “Nigerians are now demanding that the SARS be scrapped and the Police reformed.” Other Nigerians who learnt their voice include Miller Ham who said, “Sometimes, one of the reasons you don’t see SARS or other members of NPF at a robbery scene is because they are involved in the robbery. “They are either the robbers themselves, or are providing the robbers with support (i.e weapons, Intel etc). #EndSARS.”
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PDP Clears Council Polls in Akwa Ibom APC rejects results
Okon Bassey ÓØ ãÙ The Peoples Democratic Party (PDP) has swept all the 31 local government council chairmanship and the 329 councillorship seats in the local government elections held at the weekend in Akwa Ibom State. The state Chairman of the state Independent Electoral Commission (AKISIEC), Aniedi Ikoiwak, announced the result in a statement issued yesterday and made available to journalists. The three paragraphs statement with reference no. AKISIEC/481/Vol.1/111, 2017 dated December 3 and personally signed by the Chairman of the commission did not indicate details of the
result. He said the election was done in line with the relevant laws, and was contested by 12 political parties. According to him, out of the twelve political parties that contested the election, PDP won the 31 chairmanship and 329 councillorship seats respectively. “That the said election was contested by twelve political parties and the PDP won the 31 chairmanship and 329 councillorship seats respectively,” the statement stated. He stressed: “This statement confirms the announcement/ declarations made by the authorised Returning Officers in various wards and local government areas”
Ciroma: Why PDP Will Retake Power in 2019 A former Minister of Women Affairs and aspirant for the office of Deputy National Chairman (North) of the Peoples Democratic Party (PDP), Hajia Myriam Inna Ciroma, has said Nigerians will not hesitate to vote for the party in 2019 elections because of the ugly experience they have had in the hands of the All Progressives Congress (APC). The wife of the former Minister of Finance and elder statesman, Adamu Ciroma, described the defeat suffered by the party in the 2015 presidential election as a blessing in disguise. According to her, the development has enabled Nigerians to experience life under a different political party, the APC and has given them chance to see the difference. Speaking in an interview with THISDAY in Abuja, Ciroma said Nigerians are now urging for the PDP to return to power, adding that come 2019, the electorate who are now better informed, would vote for a PDP candidate. Ciroma said she is seeking for the office of the Deputy National Chairman (North) at the Saturday’s national convention of
the PDP so as to help reposition the party to be able to deliver good governance to Nigerians from 2019. On how the party can get back to power, she said: “First and foremost, everybody knows that PDP is the party to beat, everybody knows that it is the party formed by Nigerians and it has more cohesion and has existing structures everywhere in Nigeria. “We were able to be in power for the past 16 years but I can tell you very proudly that PDP has done so much for this country. Those who will say that PDP has done nothing are just playing politics. “It was a good thing that PDP lost in that election because now, we are feeling the pinch; Nigerians are feeling the pinch. PDP is the party to beat because it is the party that is in every part of Nigeria. That was why we were in power for 16 years. “Nigerians have seen the difference and they are saying we have seen the difference. Nigerians are saying let’s go back to the PDP. Ordinary Nigerians are asking PDP to come back,” she stated.
Deputy President of NGE Robbed at Gunpoint Chiemelie Ezeobi The Deputy President of the Nigerian Guild of Editors (NGE), Suleiman Uba Gaya, was last Saturday night robbed at the Gwarinpa bypass in Abuja and stripped of his possessions. Gaya, who was in company of his wife and daughter said: “At at about 8.15p.m, while driving along the Gwarinpa bypass in Abuja, we were attacked by armed robbers and stripped of our possessions, including cell phones and other valuables. “The armed robbers then disappeared through a dark alley, warning to return and get me killed if I raise any alarm. “I offered no resistance to the gun-toting young men. And God so kind, none of us was injured. This was witnessed by tens of other motorists, none of whom stopped to render any help.
“After a lot of effort, a taxi driver summoned the courage to stop and help us. As he was driving us to the Gwarinpa Division of the Nigeria Police Force, we saw a patrol vehicle, and the policemen promptly followed us to scene of the crime, where my car was still parked. “All efforts by the police personnel to trace the armed robbers proved abortive. “I want to salute the two personnel of the Nigerian police, namely Inspector Takai and Sergeant Kanu Ajah, for their prompt response, and more so for their refusal to take any money from me when they escorted me and my family home. “I also urge the Commissioner of Police of the FCT to do something about that bypass, which is fast becoming notorious for armed robbery within the FCT.”
The AKISIEC boss maintained that “details of scores as submitted by our field officers will be made available by the Field Operations/Logistics Department of the commission.” He expressed appreciation of the commission to the stakeholders and the people of the state for the good conduct exhibited during and after the elections. Meanwhile, the Chairmenelect of the 31 local government areas and all the councillorselect for the 329 wards have been asked to report to the headquarters of AKISIEC on Udo Udoma Avenue Uyo on today (Monday),December 4, 2017 by 12 noon. In a separate statement, the Electoral Commissioner, Legal Matters and Public Affairs of the commission, Dr. Faith E. E. Umoh, said the invitation for both the elected chairmen and councillors is for them to collect their certificates of return. Meanwhile, the main opposition party in the election, the All Progressives Congress (APC) in the state has rejected the results. A statement signed by state Chairman, Mr. Amadu Attai,
APC State Caucus, Atuekong Don Etiebet and State Secretary, Mr. Effiong Etok said the election was not conducted in line with the electoral act. “APC wishes to inform the public that there was no election at all according to the provision of Electoral Act 2010 (as amended). “Moreover, in their quest to rig and announce spurious results, all sensitive materials including results sheet were nowhere to be found. “The party wishes to inform the security agencies, government of Akwa Ibom State, Federal Government of Nigeria and the public that we reject in its entirety any concocted result that AKISIEC may wish to announce to the public,” the party declared. The state Publicity Secretary of the party, Ini Ememobong, had in an interview less than 48 hours to the election expressed optimism that PDP will sweep council polls He had posited that the allegation that PDP was conniving with the AKISIEC to rig council polls can only come from a lazy brain. “If we want to use AKISIEC
to rig the election does it means the headquarters of AKISIEC is now in PDP. “From series of briefings and meetings with political parties ahead of the election, we know that AKISIEC is better ready than INEC that conducted the 2015 general elections in the country. “If you recall, two days to the 2015 general elections ballot papers were still in London. Machines didn’t arrive. Judging from pre-election preparations, I think, AKISIEC is better prepare than INEC in the conduct of the 2015 elections in the country. “We have already won the election judging from our seriousness and commitment into the preparations for the election. “The December 2, 2017 council elections are just to affirm the crowd at the flag-off of the campaign and the crowd at various campaigns venue across the 31 local government areas and 329 wards of the state.” “There is no single ward in the entire 329 wards in the state that we have opposed candidate. We have not left anything unturned for this election. “Our candidates are first
class materials. Every PDP chairmanship candidates is governorship materials. We know that PDP will win but what we really want is that the people we select are people who can affect the fortune of the party and people positively. “We have done everything humanly possible within the ambience of the law for our candidates to win the elections. Speaking on likely violence in the election, Ememobong argued that “PDP is the party to beat at any time in the state hence it cannot employ any form of violence.” “There is no history of violent in PDP. The preparations of that violent are in the opposition party. Violent is the stock in trade of the opposition “Violence is the only weapon of the opposition in Akwa Ibom. We have perennially been victims of violence, so we need the security, but if their plan is to use such to suppress us, we will become human shield to oppose such. “You cannot come from the backdoor to win election. You must work hard to be acceptable to the people,” he stressed.
GOVERNOR OF THE PEOPLE
Ekiti State Governor, Ayo Fayose, dressing a two-year-old girl, during the inauguration of Christmas clothing for 20,000 children in the state....yesterday
SERAP to Buhari: Refer Corruption in Privatisation Process to EFCC, ICPC A civil society organisation, Socio-Economic Rights and Accountability Project, (SERAP), has sent an open letter to President Muhammadu Buhari requesting him to use his leadership position to revisit and refer the allegations of corruption and abuse of process in the privatisation of public enterprises in Nigeria between 1999-2011 to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for further investigation, and if there is relevant and sufficient admissible evidence, for anyone suspected to be involved to face prosecution. The organisation urged Buhari to reform the Bureau of Public Enterprise (BPE) to remove opportunities for corruption in privatisation process, and to instruct the EFCC and ICPC to
ensure the recovery of proceeds of corruption. It gave the president 14 days to take steps, failing which it said it would not hesitate to institute legal proceedings to compel your government to act in the public interest. In the letter dated December 1, 2017 and signed by its Executive Director, Adetokunbo Mumuni, the organisation said: “SERAP has obtained and carefully read the full report of the Senate Ad-Hoc Committee on Investigation of the Privatisation and Commercialisation activities of the BPE from 1999 to 2011, which contains damaging allegations of corruption, presidential interference, and abuse of due process in the selection of core investor, valuation of public enterprises, pricing of shares/assets, determination of workers terminal benefits, and use of proceeds of
privatisation.” According to the organisation, “Many cases of presidential directives/interference during the period under review (1999-2011) affected the process of core investor selection. The BPE was negligent and ineffective in monitoring of privatised companies. In some cases, BPE never monitored the companies for the entire lock-in period and in other cases their reports were complete opposite of what was on the ground.” The letter copied to Vice President Yemi Osinbajo, who is also the chair of the National Council on Privatisation (NCP), read in part: “It is in the public interest that any sales of public assets will get the best value but the Senate report shows exactly the opposite. By revisiting the privatisation process and referring the allegations of corruption
documented in the report to the EFCC and ICPC, your government would be demonstrating that it’s willing and able to fight impunity of perpetrators of corruption, which is responsible for legacy of grand corruption and abuse of office in the country. “Specifically, the committee among others found that: A total sum of N301bn was realised as proceeds of privatisation from 1999 to 2011. N900m of that was used as loan to Nigeria Re-insurance Plc for recapitalisation, in violation of section 19(2) of the Public Enterprises (Privatisation and Commercialisation) Act 1999. Folio Communications Limited pledged the assets of Daily Times Nigeria Plc to obtain loan from bank(s) and utilized the loan to pay for the share of the company.”
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Ekweremadu: Nigerians Can Live Happily Together The Senate Deputy President, Senator Ike Ekweremadu, said a united Nigeria where every citizen could actualise his or her potential in any part of the country irrespective of his or her ethnic or religious background is possible. Ekweremadu spoke in Enugu when he was conferred with the Rotary International’s 2017 Outstanding Citizen of the World Award at the weekend. Explaining his usual reflective postures, the senator noted that there were abundant possibilities for Nigeria and Africa. He said: “I believe we can live happily together in Nigeria and everybody will have the blessings of democracy and all the economic gifts, which God has bestowed on this country. “I reflect about how somebody from Kano can live peacefully in and possibly become the Governor of Enugu
State. I also reflect on how somebody from Imo State can one day become the Governor of Sokoto State. “I reflect on the about 350 million population of West African and how we can bring meaning to the protocol on enterprise, free movement, and residency to make the subregion unique and prosperous. “I also believe that Africa can become a better continent where we can take advantage of all the blessings of raw materials and solid minerals that God has given to us in abundance. We can add value to these things and create a value chain that will make us the envy of the world.” While commending Rotary International for its commitment to reducing human suffering, he urged the international community to show more sincerity and commitment to building a prosperous and
peaceful world. He expressed concern that global leaders spend time and resources on summits and seminars in search of global peace, but have not properly addressed the major issue of the manufacture of weapons of warfare and violence. “Can’t we turn these arms factories into schools, hospitals or where we can produce agricultural products and be able to add value to the rest of the world instead of producing arms to kill ourselves? “These things are possible if we truly want to build a better world,” he added. Speaking earlier, the President of the Rotary International, District 9142, Hon. Okezie Nwanjoku, said Senator Ekweremadu earned the award through his enormous philanthropy and efforts to better the lots of humanity.
I’ve No Quarrel with Jonathan, Says Wike Ernest Chinwo ÓØ ÙÜÞ ËÜÍÙßÜÞ
planted in the media by enemies of the PDP wherein they allege that Jonathan and Wike are at Rivers State Governor, Nyesom loggerheads over political issues. Wike, has said he has no quarrel “These reports are patently with former President Goodluck false and merely concocted Jonathan over political issues. by enemies of the PDP to In a statement issued in deceive Nigerians ahead of the Port Harcourt yesterday by forthcoming elective national his Special Assistant Electronic convention of the Party. Media, Simeon Nwakaudu, “Wike and Jonathan are said the rumours of friction working together to rebuild between him and Jonathan was the PDP and re-position it being planted in the media for victory in all future by enemies of the Peoples elections. Democratic Party (PDP). “Contrary to the views The statement read: “Our being canvassed in the attention has been drawn to a reports planted by the agents fictional pattern of reports being of the APC in sections of
the media, there is no premise for any political disagreement between Wike and F Jonathan, whom he served as a loyal minister. “The presidential ticket of the PDP has been zoned to the North, while the national chairmanship of the party is soned to the South, hence there is no basis for the speculation that there is a conflict, where none exists. “We urge members of the public and loyal PDP members to disregard these reports as they are concocted to mislead Nigerians who are tired of the present order.”
Ex-PDP Chairman Dumps APC John Shiklam ÓØ ËÎßØË
Rigachikun said he made a grave mistake by joining the Former Chairman of the APC in 2015. Peoples Democratic Party Speaking in Hausa language, he (PDP) in Kaduna State, Alhaji said the APC has failed Nigerians, Yaro Makama Rigachikun, who declaring that the time had come decamped to the ruling All to “change the change.” Progressives Congress (APC) He said he joined the party, in 2015, has dumped the party. thinking it would address the Rigachikun returned to the numerous problems confronting PDP,along with his followers at Nigerians, regretting that over the weekend in Kaduna. two years since its assumption He was received back to the of power, Nigerians were plunged party at a ceremony attended by into untold hardship. top leaders of the PDP, including He condemned the sacking of the interim National Chairman teachers and local government of the party, Senator Ahmed workers in Kaduna State, alleging Makarfi and the Chairman, that Governor Nasir el-Rufai Board of Trustees (BoT), Senator was implementing anti-people Walid Jibrin, among several programmes. others. He said the governor should Speaking during the occasion, start packing his belongings from
the Government House, as the people will not vote him again in 2019. “The APC has brought much suffering to Nigerians, in Kaduna State, the teachers are crying, local government workers are suffering and traditional institutions are ridiculed. “The school feeding program is in comatose, in fact, nothing is working in the state, so we must change the change” he said. Hundreds of the defecting members burnt their brooms, the APC symbol. Rigachikun, who is said to be a closed political ally of Makarfi, was the chairman of PDP in Kaduna State for eight years when Makarfi was governor.
Libya: Obi Calls for a Re-think The former Governor of Anambra State, Mr. Peter Obi, has described the enslavement of Nigerians in Libya as not only sad but also troubling. Speaking to journalists at the weekend in Oriental Hotel shortly after addressing the conference: Networking with the Giants, organised by African Youths Entrepreneurs, Obi who called for concerted efforts among Nigerian leaders on the Libyan issue, said that such tragedy motivate Nigerians to have a re-think about the trajectory the country was headed to.
In Obi’s words: “If you listened to my speech, you will see deliberate comparison of Nigeria with other countries of relative development trajectory in the eighties and how those countries have all overtaken us because of leadership failures of the past, what we witness in Libya is part of the consequences of that failure. Such occurrences should be utilised by us to advise ourselves as a country that we must wake up and put this country on the right path to avoid implosion in the future. Speaking further, Obi called
on those saddled with the responsibility of leadership to immediately commence real governance by doing those things that other nations did that took them out of the woods, such as savings for the future and reduction of the cost of governance. Obi called on the youth that dream of going to Europe by crossing the Mediterranean sea via countries like Libya to resolve to take back Nigeria for Nigerians by resisting being bought with money during elections.
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Nigeria Imports over Three Million Tonnes of Rice Annually, Says Group Growth and Employment in States (GEMS4), a UKAid DFID funded market development project in Nigeria, has revealed the huge vacuum in import substitution for rice in the country, placing the deficit at over 3,000,000 tonnes annually. The report which is the first of its kind by any development partner on the status of rice production in Nigeria, also highlighted the underlying systemic constraints to rice production in Nigeria. Speaking at an investment roundtable in Lagos, the Project Director of GEMS4, Mr. David Joiner, said the project’s mandate is to improve linkages and bankability in the rice sector. GEMS4 collaborates with agricultural businesses, investors and the Nigerian government to share insights and opportunities from Nigeria’s rice industry, as well as facilitate connections that can help reverse the ugly trend. The Senior Project Manager at Dalberg Global Development Advisors, Jesse Baver, explained that before now relevant data on the problems of rice production in Nigeria and the actual potential and investment opportunities were not available, necessitating the need for the study. He said his organisation
was excited to share insights from report of the study on rice production, describing it as a fast-developing market. “This event has given us the opportunity to present a rich amount of data and strategic insight on the Nigeria Rice market based on GEMS4 and Dalberg’s research,” he said. Speaking on behalf of DFID, Andrew Gartside, the Economic Growth - Private Sector Development Advisor, explained that this sort of event was new in the international development space but was in line with the organisation’s new approach to facilitate private sector investment for development. The forum, which brought together private sector financial institutions and government organisations such as Bank of Industry, Nigerian Investment Promotion Commission, Kanivest, InvestJigawa, and NIRSAL, provided a platform for players in the rice value chain to present their business models and pitch investment plans to potential investors. Some of the agriculturefocused companies which attended the investment forum included; Babban Gona, Afrifoods, Brent Group, Verdant Agritech, Thrive Agric, FalGate, and Sayaz rice. GEMS4, a £16.8 million project managed by Coffey International Development, offers initiatives on providing
National Higher Education Forum Postpones Event The organisers of the National Higher Education Forum (NHEF) regret to announce the postponement of the 2017 forum by one week. The event was originally scheduled to hold on December 5 and 6 at the NICON Luxury, Abuja but it will now hold on December 12 and 13, 2017 at the NAF Conference Centre, Abuja. The postponement is due to circumstances beyond our control. National Higher Education Forum is a multi-sectoral platform design for regular, productive engagements of key higher education stakeholders, education thought-leaders, innovators, researchers, industry leaders, entrepreneurs, et cetera in search of sustainable solutions to Nigeria’s higher education challenges and in pursuit of greater prosperity for the nation. Over 25 knowledgeable speakers had confirmed their participation at the forum, among whom are: Mallam Adamu Adamu, Minister of Education; Senator Udoma Udo Udoma, Minister of Budget & National Planning; Dr. Chris Ngige, Minister of Labour and Employment, and Prof. Bart Nnaji, Chairman of Geometric Power. The list include Dr. David Adebimpe, Founder of Polymath Interscience USA; Prof. Abubakar Rasheed,
Executive Secretary of National Universities Commission; Prof. Bappa-Aliyu Muhammadu, Executive Secretary of National Commission for Colleges of Education; Dr. Mas’ud Kazaure, Executive Secretary of National Board for Technical Education. Others include Vice-Chancellor of Ahmadu Bello University, Zaria, Prof. Ibrahim Garba; Vice-Chancellor of University of Nigeria, Nsukka, Prof. Benjamin Ozumba; President of African University of Science & Technology, Abuja, Prof. Kingston Nyamapfene; Director General of National Teachers Institute; Prof. Kenneth Amaeshi of the University of Edinburgh Business School and Dr. O. Okiti, President of Time Economics, et cetera. Notwithstanding the postponement, the organisers remain committed to delivering an excellent conference. Interested participants who have not registered for the Forum now have a week-long opportunity to do so. Theme of the 2017 Forum is ‘Rethinking Nigeria’s Higher Education: Innovation, Global Engagement and Sustainable Development.’ NEHF is being organised by Sojourn Limited and Time Economics with BusinessDay as the media partner
solutions to address systemic constraints in the wholesale and retail market
system. The project has the mandate to facilitate market system changes to address
identified constraints, in order to encourage economic growth; resulting in the
creation of 10,000 new jobs and increased incomes for 500,000 Nigerians..
PARTNERSHIP FOR DEVELOPMENT
L-R: Executive Director, Finance and Administration, Core-Media Group, Akeem Yusuf; Member, Board of Trustees, Jandor Foundation, Omowumi Alli-Balogun; Managing Director and Chairman, Jandor Foundation, Olajide Adediran; presenting a letter to the former Deputy Governor of Lagos State, Princess Shara Adebisi Sosan; and Head of Administration, Core-Media Group, Mr. Lucas Mokogwu, during a visit by the management team of Jandor Foundation to former deputy governor on the forthcominginauguration of the foundation’s students kitting projects and a jetty terminal to the people of Irewe Community of Lagos State....weekend KOLA OLASUPO
Giving Phone Numbers to Strange Persons May Lead to Your Kidnap, DSS Warns David-Chyddy Eleke ÓØ áÕË The Department for State Security Service (DSS) has warned that giving out phone contacts and other vital personal information to unknown persons could lead to kidnap or other forms of theft. The Deputy Director of the DSS in-charge of security in Anambra State, Mr. Yekini Ishola, who spoke during a paper presentation in the security department of the Nnamdi Azikiwe University, entitled: ‘Developing
Technological Strategy Towards Crime Reduction In Tertiary Institution,’ said many had fallen victim as a result of this. He said disclosing telephone numbers, bank verification numbers, ATM card numbers and others could be injurious to people’s security. He identified investigation and intelligence gathering as ways perpetrators of cyber crimes could be nailed, while cautioning the public to desist from disclosing sensitive personal information . He attributed the increase of cyber crimes in
the country to dearth of cyber security experts and other technological means for tackling the menace. He listed Lagos, Ogun and Oyo States as where internet fraud activities were more prevalent in the South-west region of the country, while identifying a certain tertiary institution(name withheld) in the region as an area of highest concentration of cyber criminals in the country. He said: “Cyber crimes are not committed by an individual, but a network of criminal activities perpetrated
by syndicates using theft, hacking, stalking, malicious software and other dubious means to gain access into personal information and account details. “As a result of dearth of hitech cyber security apparatus in the country, it could be rather difficult to fight cyber crimes to a standstill. “Collective responsibility is therefore required to track cyber fraudsters and their cronies. Investigation and intelligence gathering are ways perpetrators of cyber crimes can be nailed.”
SON DG, Aboloma, Lalung, Others Get Fellowship of ICMC The Director General, Standards Organisation of Nigeria (SON), Mr. Osita Aboloma, was among dignitaries conferred with the honorary fellowship of the Institute of Chartered Mediators and Conciliators (ICMC) during the week in Abuja. The conferment took place during the annual conference and induction ceremony of the Institute at the National Judicial Institute, Abuja with the theme “Myth and Reality of Agitations; The Place of Consensus Building” The ICMC is a professional body of practitioners in Nigeria that regulates and sets standards for the practice of mediation and conciliation. It promotes the use of mediation as an alternative dispute resolution (ADR) mechanism
in the effective administration of justice. The institute through ADR also ensures integration of continous dialogue and popular participation in policies of governance, promotion of peace and harmonious co-existence at home, work place and society at large. Giving a goodwill message before his induction, the DG SON stated that the Organisation has fully embraced ADR in its service delivery as business facilitators, using the instrument of standardisation and quality assurance. According to him, SON has trained about 40 of its staff from different departments on ADR and plans to train many more. Aboloma stated that ADR provides greater choices for
settlement of disputes and misunderstandings in the workplace, businesses and private interactions under a win win situation. He expressed appreciation to the institute for the recognition of SON and many of its staff as worthy members to further advance the course of ADR. Welcoming participants to the conference, the President of ICMC, Mr. Emeka Obegolu, enumerated the recent strides of the institute in lending its resources to national efforts in building a more peaceful and harmonious society. He admonished the inductees to make available their acquired skills in mediation to communities in desperate need of knowledgeable and experienced professionals and
peace builders. The occasion was declared open by the Governor of Plateau State, Hon. Simon Lalung who was also inducted as honorary fellow. Lalung acknowledged the great role of ADR professionals in bringing peace to Plateau State and other states of the federation to embrace the mechanisms. Other honorary fellowship inductees at the occasion included, Chief Wole Olanipekun, SAN, Governor Ibrahim Geidam of Yobe State; Prof. Mahmood Yakubu, Chairman, INEC; Mr. Olanrewaju Onadeko, DG, Nigerian Law School ; HRM Dr. Emmanuel Efeizomor, Chairman, Delta State Traditional Rulers Council and Mr. Ifeanyi Uba of Capital Oil.
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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com
RUSSIA 2018 WORLD
Fashanu Warns Nigeria, Places ‘Bogey’ Tag on Iceland America’s CBS lists Nigeria/Argentina match among top 10 Olawale Ajimotokan in Abuja Former Wimbledon striker, John Fashanu has issued a chilling warning to Nigeria as the countdown to next year’s World Cup begins to gather pace. His warning was in the wake of the draw that pitted Nigeria in Group D alongside Argentina, Iceland and Croatia. While assessing the teams, the former England international tagged Iceland as the bogey team because of their nondescript international profile. In an exclusive chat with THISDAY, Fashanu said that World Cup first timers, Iceland, which population is roughly 400,000 is the team Nigeria should fear because of the little information about them. “I am quite happy to be in the same group with Argentina because when we play Argentina, we raise our game. I don’t want to be in the same group with Iceland being the first time they qualified for a World Cup. That is a bogey team- a team nobody knows anything about. They are the team with nothing to lose, everything to gain. They the smoking guns for the Super Eagles,” Fashanu warned. Three-time Africa champions Nigeria, will be pitted against the Icelanders in Volgograd on June 22, 2018 after igniting their campaign against Croatia in Kaliningrad on June 16before playing their final group match against Argentina in St Petersburg on June 26. Though the Croats, who finished third at France 98, look fearsome with the likes Luka Modric, Ivan Rakitic, Mario Mandzukic and Ivan Perisic available for selection, Fashanu considered them an inconsistent team. While conceding that the Europeans are brilliant bunch of players, Fashanu insisted same cant be said about Iceland who has Gylfi Sigurdsson of Everton as their key player. “It is not that we don’t know Croatia which is always a middle of the road team. The Croats are never brilliant and never terrible. They might scare you but they are not a team that has consistency. The one you are going to worry about is Iceland, not Argentina, even though Argentina have Lionel Messi, arguably one of the best players in the world’’. Fashanu advised the Nigeria Football Federation to organise pre-World Cup warm up matches against teams whose style is similar to that of Argentina and Brazil and not the English type of football. “Having said all this, I will warn that you don’t underestimate the Super Eagles. We have the players who are equally excellent and brilliant that is why I say to you don’t look to where we know, look to where we don’t know—that is the black hole, the one that will come out and
surprise us,” he concludes. In a related development, America’s commercial broadcast television network, CBS has listed Nigeria against Argentina last group D match as one of the top10 matches the sporting world should watch out for at the group stage of Russia 2018. The match is slated for June 26 in Saint Petersburg incidentally, the June 26 match comes a day after the 24th anniversary of their first encounter in Boston at the USA ’94. According to the analysis by the CBS the Super Eagles just crushed Argentina 4-2 in a friendly last month, “but that wasn’t a game that tells us much. It’s still fun when they get together”. Their match will be fifth time out of six World Cups that they have been in the same group. Vengeance, on both sides, will no doubt be the recurring thought. For Nigeria, it will be an occasion to avenge the earlier four defeats inflicted on previous squads of the Super Eagles who lost all the encounters by the odd goal. For Argentina, it will also be a time to revenge on the humiliating 4-2 defeat of last month in a friendly tie in Krasnodar, Russia. The other nine matches listed by the CBS as top group games are host, Russia against Saudi Arabia which is the opening match of the tournament, Portugal versus Spain in group B on June 15th just as Argentina against Iceland was listed. The Mexico and the defending champion, Germany match on June 17 is seen as a high profile group stage tie just as Belgium and Panama encounter on June 18th and the Belgium and England match on the 28th of June were was also listed among the rest.
L-R: Partnership Marketing Manager, Manchester City FC, Oliver Pfeiffer; Senior Partner, Marketing, Jeremy May; Managing Director, PZ Cussons Nigeria Limited, Alex Goma; Human Resources Director, Joyce Coker and Regional Marketing Manager, Jimi Taiwo, during the partnership meeting between PZ Cussons Nigeria and Manchester City FC, in Lagos last week kola olasupo
GOtv Boxing Night 13: Fijabi Vows To Win ABU Title Nigeria’s Olaide “Fijaborn” Fijabi has vowed to win the African Boxing Union (ABU)light welterweight title when he takes on Kenya’s Michael Odhiambo at GOtv Boxing Night 13 on 26 December. The event, which holds at the Landmark Events Centre, Victoria Island, Lagos, will feature seven bouts. Fijabi, a darling of the Lagos boxing crowd, after having reigned as the national and sub-regional champion, his coming clash with Odhiambo gives him an opportunity to become
the continental king.“I am moving up. I will beat Odhiambo. Very easily. I am gunning for the Commonwealth and world titles. Nothing will stop me,” he said. Also at GOtv Boxing Night 13, his compatriot, Oto “Joe Boy” Joseph, will fight Egyptian Abdulrahim Ahmed for the vacant African Boxing Union (ABU) lightweight title. The event will feature musical performances by Small Doctor, Falz The Bahd Guy, Reekado Banks and Simi.
After winning several titles at cadet and junior categories, Jamiu Azeez added the men’s singles title to his laurels after emerging
winner at the 49th Asoju Oba Molade Okoya-Thomas Table Tennis Cup. Also, Bose Odusanya easily
“We had a great time and I am glad to have played with my group: I am happy to win this time” he added. Adebayo shot 76, 79 on each days of his 36 holes play to edge Cobus Clasens by six strokes to runner up place. Douglas Koebbe finished in third place leaving 2016 winner
Tim Ayomike in fifth place. Sixteen year old Georgia Oboh carded the best score of the weekend to win the Lady’s title. She fired 75, 71 (146) four over par gross beating Fatumata Soukouna to the second place with Ndili Njide picking the third place.
retained the women’s singles diadem after beating Alimot Ayinla 4-0 in the final. Azeez, a semifinalist in 2015 dominated David Fayele in what could be described as a drab encounter to emerge victorious above the Union Bank Sports Club Fayele. The fans at the venue were disappointed with Fayele’s display as the final failed to live up to expectation with Azeez thrashing the left-hand Fayele 4-0 to emerge as the new champion of the oldest sporting competition in Nigeria. An excited Azeez said he was happy winning the title after several efforts at the biggest title.
EPL: Silva’s Late Strike Gives Man City 13th Consecutive Win Manchester City came from behind to win a record-equalling 13th Premier League match in a row with victory over stubborn West Ham at Etihad Stadium. Angelo Ogbonna’s header on the stroke of half-time put the lowly Hammers ahead, but Nicolas Otamendi responded with a predatory finish shortly after the break. David Silva won it for City, acrobatically converting a Kevin de Bruyne pass with seven
Rilwan “Scorpion” Oyekola and Jimoh “Hogan Jimoh Jr”, Lukman, with Matthew “Wizeman” Obinna and Cosmos “Awosika” David also clashing in super middleweight challenge bout. Tickets are available online at ariiyatickets..com, SLOT and Ebeano Supermarket outlets as well as the National Staidum. Buses will be made available to transport ticket-holding fans from the National Stadium to the venue of the event and back to the stadium.
Azeez Wins 49th Asoju Oba Cup
Adebayo, Kim, Oboh Shine at Lakowe Club Championship After loosing 2016 title on 34th hole, Tunji Adebayo held his nerves to pick the 2017 Lakowe Club Championship on Sunday December 3rd in Lagos. “it is a honour” he said at the closing ceremony, giving credit to the players in his flight who brought out the best in him.
Another international title bout will see Nigeria’s Abolaji “Afonja Warrior” Rasheed defend his West African Boxing Union (WABU) title against Arye Ayitteh of Ghana. Two national title bouts are also on the cards, Rilwan “Baby Face” Babatunde taking on Chijioke “Painless” Ngige for the national light welterweight crown, while Rilwan “Real One” Oladosu against Kehinde “Ijoba’ Badmus will duel for the lightweight title.. The latter category will equally see a challenge bout between
minutes left. Victory meant Pep Guardiola’s side re-established their eightpoint lead over Manchester United, who they play at Old Trafford next Sunday. They have also equalled the longest winning run within a topflight season, matching Sunderland and Preston (1891-92), Arsenal (2001-02) and Chelsea (2016-17). West Ham, though, have set a club record for the fewest points after 15 Premier League
matches - they have just 10. The Londoners had their chances - as well as Ogbonna’s goal, Michail Antonio almost pounced when Ederson spilled the ball, and Manuel Lanzini forced the goalkeeper to save at his near post. But it always looked as though City’s pressure would tell and, shortly after De Bruyne’s free-kick was palmed away, Gabriel Jesus skipped through and slid the ball to Otamendi, who scored. Leroy Sane, Raheem Sterling,
De Bruyne and Jesus had further chances before Silva won it for the home side, but there was still time for the Hammers to go close, with Diafra Sakho shooting just wide after Marko Arnautovic pulled the ball back. Silva’s strike made this the fourth game in a row City have won thanks to a goal scored in or after the 83rd minute. Raheem Sterling had scored the past three, having also hit an injury-time winner at Bournemouth in August.
“I am so happy that my dream of being part of the winner of the prestigious competition came to pass. I have been featuring in this competition as a cadet player and I also took part in the junior event which I had won several times. But I have never won the senior title as I came close to the title in 2015 but I was edged out in the semifinal stage. Now my dream has come true and I could say that it was a bit easier for me to claim the title,” he said. Like Azeez, Odusanya whitewashed Ayinla 4-0 to retain her title in the women’s singles.. For the chairman of the grand finale, Oba Otudeko, the family of late Molade Okoya-Thomas should be commended for keeping faith with the tournament even after the demise of the initiator. “I must commend the children of Chief Molade Okoya-Thomas for upholding the ideal of their late father by ensuring that the tournament continues three years after the exit of their father. Sports is a unifying factor in Nigeria and table tennis is not an exception. I hope and believe we can get more superstars from this competition after the likes of Atanda Musa, Bose Kaffo and Funke Oshonaike came through it,” Otudeko said.
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MISSILE Bindow to Atiku Abubakar “It is going to very difficult, nobody is going to follow Atiku anywhere. You can be sure that no one is following Atiku to leave the party.” Adamawa State governor, Jubrilla Bindow dispelling rumours of a mass exodus of party members from the All Progressives Congress following the resignation of former Vice President Atiku Abubakar from the party.
ALEXOTTI OUTSIDE THE BOX
alex.otti@thisdaylive.com
What Did You Contribute To GDP Today? ‘The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are a few who decide to do something about them now. Not tomorrow. Not next week. But today” Nolan Bushnell.
I
n layman’s English, the term Gross Domestic Product (GDP) refers to the monetary value of all economic activities carried out within a country over a period of time, usually quarterly and/or annually. In calculating GDP, the monetary value of all the goods and services produced across the country, over the relevant period is summed up and can be compared with the value over the previous quarter to determine the percentage change which represents economic growth or decline. The size of the economy is therefore determined by the size of the GDP over a period of one year. In Economics, there are two ways to calculate GDP. The first is by adding up all the income earned by residents in the country whether they are by foreigners or locals. The second approach is by adding up all the expenditures of residents in the country. Both the income and expenditure approaches should give the same result. It means that activities that do not have economic value will not make it into the GDP calculation. One thing readily comes to mind when discussing GDP. While some people would be making heavy contributions to GDP, others may be making little or no contributions. Theoretically, the harder people work, the more they contribute to GDP. In practice, however, it does not work that way and we shall return to this shortly. Like we all know, Nigeria rebased her GDP in 2014 and became notionally, the largest economy in Africa. Ordinarily, there shouldn’t be any problems with this as GDP is supposed to be rebased about every five years and the last time that was done for the Nigerian economy, was in the 1990s. Whichever way you look at it, a $510b economy is a large economy. The only issue was the hysteria and euphoria that followed the exercise which seemed to have ignored more fundamental issues, the first of which is that ‘biggest’ doesn’t necessarily mean ‘best’. It is therefore instructive that even with the largest GDP we were still dealing with what Abraham Maslow in his famous theory of needs hierarchy, referred to hygiene issues of food and survival. So, we became the biggest economy but still had the biggest problems. The second was that we conveniently forgot to focus on the more useful data: GDP Per Capita. The concept of GDP Per Capita refers to comparing the total cake baked with the number of mouths available to eat it. When we rebased the economy in 2014, and became the largest economy in Africa, we also became the 26th largest economy in the world. However, on the basis of GDP Per Capita, our position was a distant 17th largest economy out of the 53 African countries ranked. According to the IMF, while 2017 estimates of our GDP at $395b have reduced our global ranking from No. 26 to No. 29, we still maintained our position as the largest economy in Africa, in absolute terms. However, Per Capita GDP of $2,902 places Nigeria as the 139th out of the
Minister of Finance, Kemi Adeosun
185 countries ranked worldwide. For purposes of comparison, Luxembourg came first with its GDP Per Capita of $107,708. Two countries in Africa that stood out were Seychelles and Equatorial Guinea who placed 52nd and 62nd with GDP Per Capita of $15,658 and $12,000 respectively. Considering the foregoing, my contention is that we must redirect our attention to the productivity of the average Nigerian rather than to the total productivity represented by GDP. Bringing this point home dramatically, we can liken it to a farmer who at the end of the season, harvested 30 tubers of yam while his counterpart harvested only 10 tubers of yam. If the first farmer has 10 mouths to feed, it means that each person in his household can only get a share of 3 tubers of yam. Compare this with the second farmer who has only 2 mouths to feed, then it is clear that he is relatively richer because each of his dependents would take home 5 tubers of yam. The first farmer would have behaved like us if he went on a celebration spree boasting with his 30 tubers of yam, without attempting to compare oranges with oranges by considering how many people will eat out of his yams. We must be able to place the productivity problem in its correct context. A simplistic reasoning would recommend reduction in our population to increase GDP Per Capita. This is a lazy man’s solution to the challenge. How about getting the population to contribute maximally to the GDP like in the countries mentioned above? This takes us to the concept of GDP per hour of work. This concept measures labour productivity in and around countries. It measures how efficiently labour, combined with other factors of production would yield results. On this score, Luxembourg has continued to remain the world’s most productive country in the last three years. Current data shows that the country has a GDP per hour of work of about $94 and interestingly, it has an average work week of only 29 hours. Most countries have a 40-hour work week, save for France, which has maintained a 35-hour work week in the last 17 years. The latest figures on productivity
in Nigeria show that as at the end of 2016, our GDP per hour of work was less than $3. This is not very cheering news and may be one of the reasons for the biting poverty in the country. Given the level of unemployment, which is chasing 15% officially, it would not be difficult to understand why we have a gap of over $90 in productivity, between us and the most productive country in the world. It is therefore important to understand why we are one of the least productive countries in the world and what can be done to change this situation. The usual suspects in our blame game are infrastructural deficits including roads, rail and power. While we concede to the overriding constraining effects of these challenges to productivity, we must also agree that we have over-flogged these issues and I will therefore not spend time on them in this discourse. One major problem in our system is the availability of work, or lack thereof, in the first place. That is the reason for the very high unemployment and underemployment figures. A lot of people who are able and willing to work cannot find jobs because the jobs are simply not there. Our economy is not structured to create jobs and sadly, job creation gets mentioned glibly as part of government deliverables, while hardly are governments measured on the basis of job creation nor are they held responsible for failing to do so. In the recent times, private investments, particularly foreign private investments, have plummeted owing to the exchange rate management policy and the sustained economic crisis. Private investment goes with job creation. The few investments that we attract are hardly channeled to job creating opportunities. Some go to speculative activities and others follow non-labour intensive activities. Again, all our attempts at industrializing the economy have not yielded any reasonable results. Without industrialization, the number of jobs that can be created would remain limited. The next challenge is the ability of the entrepreneurial cadre to create jobs for itself. This is where the country has not done very well, frankly speaking. This is also the whole essence of this intervention. We must rise above folding our arms and looking for alms. I believe that with the proper incentives, a lot more of our people could get involved in economic activities and therefore job creation. This should be located within what is described as small and medium scale enterprises, - the SME space. Even though SMEs contribute over 40% to our GDP and employ a lot of people, we can do a whole lot more by encouraging many of our unemployed and underemployed people to find something to do to ensure that they contribute to the GDP and thereby reduce unemployment. If we are able to push more people into this sector, it is possible for SMEs to contribute over 80% to GDP and take more people out of the unemployment line. For those that have something to do, there is also the argument that our work culture or attitude is poor. While this cannot apply across board, there is no denying the fact that
a lot of workers, particularly in the public sector do not put in equal day’s work for equal day’s pay. The level of truancy and absenteeism in the public sector is simply alarming and unacceptable. In addition, the sector has a lot of bureaucratic bottlenecks that slow down service delivery and therefore productivity. High productivity cannot be guaranteed under this kind of atmosphere. This may just be one of the reasons for low productivity. We also don’t seem to work smarter, rather, we tend to work harder. From the story of Luxembourg and in fact other high productivity countries like Norway and Ireland, who do not necessarily have a longer work week, the need to work smarter cannot be overemphasized. Putting in longer hours does not necessarily guarantee better results nor higher productivity. The difference is that they are simply more productive per hour of work done. Closely related to this is the idea of work/life balance. Under a situation that guarantees work/life balance, workers have enough time to rest, go on vacation and attend to other forms of leisure and when they are at work, their productivity is at its peak. They also tend to be less affected by fatigue and sickness, even while producing better results. Again, the kind of tasks that the country focuses on is also very important. Higher value tasks are naturally more rewarding and impact productivity much better than low value tasks. A study of the tasks undertaken by the high productivity countries would easily prove this point. This may be moderated by the argument that we have a lot of people that we need to get busy. But it is also correct to say that there are some tasks which are labor-intensive, require a lot of intensity but yield poor results in terms of productivity. At the point where a country has a choice, such tasks should go down on the table of preference. All said and done, I believe that Nigeria has a lot of job to do in creating the enabling environment to get most of our people busy with rewarding economic activities that would impact GDP more positively. These would include setting up the necessary infrastructure, monetary and fiscal policies, including tax breaks, to encourage investments into the productive and job creating sectors of the economy. Most importantly, I also think that Nigerians should begin to focus more on ensuring that each and every one of us should consciously bring ourselves into the economic activity framework and consciously ensure that we make an impact that would translate to positive contributions to the nation’s GDP. We can complain and make excuses the much we can. The truth, however, is that if some people are able to contribute, then all of us, with sheer determination, can. You may not succeed immediately, but as the saying goes, you must continue to try and succeed, you will. As highlighted above, we must make a decision to do something, no matter how little you think it is. And that should be now rather than later. The clarion call is for all of us in our big and small pursuits.
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