Tuesday 5th December 2017

Stanbic IBTC Retains AAA National Fitch Ratings Obinna Chima Stanbic IBTC Bank PLC and its holding company, Stanbic IBTC Holdings PLC, have retained their AAA national ratings by Fitch Ratings, the global leader in credit ratings, reaffirming their strong fundamentals

and stability, especially the ability to meet their financial commitments as they fall due.

In the report issued recently, the two institutions recorded AAA(nga) national long-term ratings, which provides a relative measure of creditworthiness for rated

institutions in Nigeria.

The AAA national rating is assigned to an institution with the lowest relative risk.

In arriving at the rating for Stanbic IBTC, Fitch took account of the strong parental support from Standard Bank Group, to which Stanbic IBTC

Holdings PLC belongs, as the group provides support in such areas as staff training, provision of information technology upgrades and best practice processes, as well as strong corporate governance practices, a statement from the bank said yesterday.

“Stanbic IBTC Holdings PLC’s (SIBTCH) National Ratings are based on potential support from its parent, South Africa’s Standard Bank Group Limited (SBG/Group; BB+/ Stable), if required.

“Our view of institutional support considers SIBTCH’s

strategic importance to SBG, high levels of integration between the parent and the subsidiary, as well as SBG’s majority shareholding in SIBTCH (53.2 per cent through Stanbic Africa Holdings Continued on page 6

To Stem Growing Fuel Queues, Kachikwu Orders Release of Products in Storage… Page 9 Tuesday 5 December, 2017 Vol 22. No 8265. Price: N250

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Okorocha Swears in 28 Commissioners, Appoints Sister Commissioner for Happiness… Page 45

Makarfi: No Deal Made With Atiku as Precondition for His Return Okowa rolls out convention plan as 7,000 Taraba APC members defect

Onyebuchi Ezigbo in Abuja and Oluwole Ayodele in Jalingo The Chairman of the National Caretaker Committee of the Peoples Democratic Party (PDP) Senator Ahmed Makarfi has said that there was no precondition for the return of

former Vice-President Atiku Abubakar to the party, but the PDP will accord due respect to him and others of similar status.

He also allayed the fears of PDP members over the possibility of the party Continued on page 6

Chibok Boy, Ali Ahmadu Returns to Nigeria After Successful Surgery in UAE Kasim Sumaina and Tayo Olaleye in Abuja After undergoing surgery that lasted for almost six hours, about one week in the intensive care unit (ICU), and a month in recovery in the United Arab Emirates (UAE), Ali Ahmadu Chibok, the six-year-old boy who fell victim to one of Boko Haram’s murderous invasions on Chibok community in Borno State four years ago, returned home yesterday to a tumultuous welcome.

Ali, whose return was covered by reporters, arrived the Nnamdi Azikiwe International Airport, Abuja, onboard an Ethiopian Airways flight at exactly 12.22 p.m. from Continued on page 6

NOTORE SNAGS A NEW LICENCE...

Ali Ahmadu at the airport yesterday

Managing Director, Oil and Gas Free Zones Authority (OGFZA), Mr. Umana Okon Umana (left) and the Managing Director of Notore Chemicals Industries Limited, Mr. Onajite Okoloko, when OGFZA presented an oil and gas free zone developer’s licence to Notore Chemicals, in Abuja… yesterday

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PAGE SIX MAKARFI: NO DEAL MADE WITH ATIKU AS PRECONDITION FOR HIS RETURN imposing a presidential candidate on them in 2019.

Makarfi equally expressed satisfaction with last Tuesday’s judgment of the Court of Appeal in Ekiti State which nullified the judgment of the lower court on the authentic leadership of the South-west zone, adding that it could have affected the smooth conduct of Saturday’s convention.

Speaking during the inauguration of the party’s National Convention Planning Committee headed by Delta State governor, Dr. Ifeanyi Okowa yesterday in Abuja, Makarfi said contrary to insinuations in some quarters, there was no deal with Atiku to grant a special concession to him during the presidential primary of the PDP. Makarfi’s explanation came just as the Deputy National Publicity Secretary of the All Progressives Congress (APC) Timi Frank blamed the ruling party’s national leadership for the imminent massive defection that he claimed was about to hit the APC. While speaking on the circumstances of Atiku’s defection to the PDP, Makarfi said the former vice-president never asked for any special concession, nor did the party offer him one before his return to the party.

Atiku who dumped the APC more than a week ago, formally returned to the PDP at the weekend, promising Nigerians to create millions of jobs if he is elected president.

He also said that the issues that had forced him to defect to the APC about four years ago had been resolved in the PDP.

“Atiku did not seek for a special concession and the party did not extend any special concession to him, and I don’t think we will extend any concession to anybody, other than what is due to him and other than what is due to anybody of his status that will be coming into the party. “It is only right that we accord such people such preferential rights and the status they deserve. “He never asked for anything and we never conceded anything to him.

Whatever aspiration he or anyone coming to the PDP may have, they are free to pursue them, so are other PDP members who are free to pursue whatever political aspirations they may have. “The party is out to establish a level playing field to enable party men and women exercise their rights and to give mandates to whomever they want to give mandates to,� he said.

Makarfi urged members to be ready to make sacrifices, as times were hard, adding that if they continued in this direction, PDP will be able to return to power in 2019.

In his remarks, the chairman of the PDP Board of Trustees (BoT) Senator Walid Jibrin said everybody was ready to collaborate with the planning committee to ensure the success of the convention and to see that it is conducted in a free and fair manner.

Taraba State governor, Darius Ishiaku also said PDP still remained the pride of Nigerians, adding that it still remains the party that all

Nigerians are yearning for.

The convention planning committee headed by Okowa immediately swung into action yesterday by holding a meeting.

Okowa said only members of the committee, accredited delegates and the media would be allowed into the venue of the convention.

The governor, while reeling out stringent measures that will ensure the orderly conduct of the convention, said campaigns for the various offices of the party will cease by Friday and no one will be allowed to bring supporters or post-campaign banners to the Eagle Square, Abuja, where the convention will hold. “If you are not an accredited delegate for the convention, it is better you stay away from the venue and watch the events in the comfort of your homes as it will be beamed live on television,� he said.

Just as the PDP was putting the finishing touches to its convention, its state chapter in Taraba consolidated its position in the state, when no fewer than 7,000 members of the APC defected to the party in Gassol Local Government Area at the weekend.

Gassol, which was a major stronghold of the APC in the 2015 general election, erupted into a frenzy when three of the most prominent political figures in APC in the council defected with their supporters in a very colourful ceremony.

The occasion, which had in attendance the state’s deputy

governor, Mr. Haruna Manu and other top government functionaries in the state, was a major pointer to the dwindling fortunes of APC in the state.

The three gladiators among the decampees – Hon. Isa Mohammed Tobi, Hon. Gagga and Musulimu Audu Harisu – ensured that APC defeated the PDP in the local government where the deputy governor hails from.

Presenting the decampees to the mammoth crowd that gathered at Mutum Biyu, headquarters of the local government area, the state chairman of the party, Victor Bala Kona said their return to PDP marked the death of APC in Gassol.

He enjoined the people of Gassol and the entire state to continue to support PDP, saying there was no alternative to the party in the state, just as he assured them that the party was well positioned to recapture power at the national level.

Addressing the crowd, the deputy governor thanked the decampees for the honour done to him by returning to PDP, just as he assured them that they would not have any cause to leave the party again.

He noted that as a representative of the local government area, in his capacity as deputy governor, he has been representing and protecting their interests just as other local governments areas and promised to continue to do so.

He appealed to the people, particularly party faithful, to continue to support the

Ishaku administration and remain peaceful and lawabiding.

Meanwhile, a member of the APC, Timi Frank, has said that the leadership of the ruling party should be remorseful, following the resignation of Atiku and many others from the party.

Commenting on last Sunday’s defection of Atiku to PDP, Frank said in as much as the democratic system of government permits politicians to move from one party to other, the failure of APC leaders at the national level must be blamed for the recent massive defections from the APC. In a statement issued by Frank yesterday in Abuja, he said he had warned and predicted the recent developments in APC, adding that “flagrant disregard to the constitution of the party, impunity and silence of some leaders are responsible for the misfortune befalling the APC�.

While still cautioning the APC on its future, Frank said the lack of internal democracy, disregard for party constitution, irregular meetings, inability to conduct a convention, absence of a board of trustees and arrogance by the party leadership could result in doom.

According to Frank, “Nigerians should note one very interesting thing in the politics of Nigeria today: in the past, it used to be that people decamped or left the party that had lost the election or that was

in opposition to the party that is ruling. “But here we are today, people are moving from the ruling party to the party in opposition. It is saddening but interesting the way politics is being played out in Nigeria because here we are, people leaving the comfort zone of government and the corridors of power to the opposition party which should signal danger to those leading the ruling party.�

The APC chieftain restated that the display of arrogance by some party leaders was not helping matters.

He said it was high time APC realised that politics is about the numbers and every youth, man or woman is important. “The kind of arrogance being displayed in the then ruling party led some of us out of PDP in those days but we have now realised that it is even worse in APC. “Though it’s already getting late but if this impunity is not tackled between now and early next year, APC may witness the mother of all defections to opposition parties. “As for me, I’m still a member of APC because I believe I have worked hard to bring about the ruling party as a young man but if the impunity does not stop, I will be left with no option. “Not only me but some serving governors, members of National Assembly and other known party leaders across the country that have to decide their political future elsewhere,� he said.

of an extremely delicate surgery, including about a week in ICU and a month in recovery, Ali took his first steps into a brighter future. “Ali has been in the UAE, being monitored, as he recuperated and to God’s glory, Ali who left this airport on a wheelchair a couple of months ago, is back before you today on his two feet, looking handsome and ready to start his new life,� he said.

Kwajafah stated that GIPLC remained committed to Ali’s post-surgery and well being and had received confirmation from the chairman of the Board of Trustees of the Dickens Sanomi Foundation who is also the chairman of Taleveras Group, Mr. Igho Sanomi, to support his reintegration into the society and will provide him with a scholarship as he settles in Abuja.

Similarly, Mr. Goodluck Hayi, a board member of the Dickens Sanomi Foundation, stated that the young boy’s arrival and survival was a thing

of joy to the foundation.

According to him, “About three months ago, we all witnessed how, at the same airport, Ali Ahmadu was being taken away on a wheelchair, today to the glory of God we are here to receive Ali Ahmadu, walking handsomely into our arms. “What started as a painful journey for little Ali after the Boko Haram attack in Chibok four years ago that confined him to a wheelchair, has transformed into a journey of hope, love and care.

Hayi further noted that the Dickson Sanomi Foundation is premised on the principle of love and care, one that was practiced and preached by the late Assistant Inspector General of Police (AIG), Mr. Dickens Sanomi, the father of the Taleveras boss. “Today we demonstrate these principles by being our neighbours’ keepers and teaching love by showing it,� he said.

The foundation, he noted, will be working with Ali’s

family through GIPLC and will be supporting Ali’s post-surgery life, “so we will help him settle into Abuja to grow as a child showered with love and care�. “I am authorised to announce that an education scholarship will be provided for Ali until he gets to the university by the Taleveras Foundation. “Thank you to all Nigerians and to everyone who has supported this journey,� Hayi said.

currency obligations as they fall due.

The group was certified as having “good funding profile and very good liquidity� as customer deposits grew strongly by 13 per cent in the first half of 2017 with the bank rolling out new delivery channels. “Balance sheet liquidity is underpinned by large volumes of government securities.

Additionally, SIBTCH’s loans/ deposits ratio at 62 per cent is one of the lowest among peers.�

Chief Executive of Stanbic IBTC Holdings PLC, Mr. Yinka Sanni, said the ratings were a clear testament to the financial institution’s strength, strong leadership and the unyielding

CHIBOK BOY, ALI AHMADU RETURNS TO NIGERIA AFTER SUCCESSFUL SURGERY IN UAE Dubai, where he had spent a couple of months undergoing treatment.

The young lad was dressed in grey blazer, white shirt and blue jeans, and was all smiles as he disembarked from the plane.

Overwhelmed with joy, Ali thrilled crowd with brisk walks at the Abuja airport. It was hectic controlling those who trooped out to catch the glimpse of the boy.

When he was approached by journalists at the arrival area of the airport, he simply said: “I am fine.�

When asked in Hausa about his experience in Dubai, he said “lafiya lao� (Fine, thank you).

To really prove that he was fine, Ali lifted his legs almost in a goose-step, much to the delight of onlookers.

He arrived the country alongside his aunt, Hannatu Madu, Mr. Nuhu Kwajafah, the coordinator of Global Initiative for Peace, Love and Care (GIPLC), the NGO that brought Ali’s predicament to light after he sustained life-threatening injuries from the Boko Haram attack, and

representatives of Dickens Sanomi Foundation, which provided the funding for his treatment and recovery.

Reporters seized the moment to ask him about his ambition, to which he responded in Hausa: “I am fine, I want to be a policeman, I want to save people from harm.�

Speaking to reporters, Kwajafah narrated how four years ago Ali fell victim to one of Boko Haram’s murderous invasions that resulted in the deaths of his parents.

According to him, “That fateful night, he sustained major injuries and suffered excruciating pain all over his body, brought upon him by the senseless marauders.

They crushed everything and everyone in their path, severely damaging his vertebra column in the process but the hand of God preserved Ali, so we may give glory to His name. “After that incident, the little boy did not have access to any form of orthodox medication. He was at the

mercy of traditionalists, in highly unpredictable and perilous conditions. “Obviously, during this period, access to education, nutrition, psychosocial tuning, water, sanitation or hygiene, were very limited, if not non-existent. “He was immobile and fast deteriorating, physically and mentally, from that period till the first quarter of this year, when GIPLC made contact with him. “The organisation facilitated the relevant examinations and digital/lab tests for his assessment and proper medical attention.

The results revealed that he couldn’t access the quality care required to literally realign him towards a better quality of life, hence the decision to make the prerequisite travel arrangements to travel abroad.�

Kwajafah added that after Ali was duly assessed and the various options were considered from all over the world, his NGO resolved to take him to the UAE. “After almost six hours

STANBIC IBTC RETAINS AAA NATIONAL FITCH RATINGS Limited),� the statement quoted Fitch as stating.

Stanbic IBTC Holdings PLC and Stanbic IBTC Bank received similar ratings in 2016 and February 2017 after a thorough examination of its credit process and financial results.

The bank’s diversified loan portfolio was reviewed, with its impact on the various sectors of the economy taken

into account. “One of SIBTCH’s main strengths is its diversified earnings.

Non-interest income generation is high and underpinned by fees and commissions and trading income. “Loan impairment charges are high, but manageable in the context of strong earnings.

Costs are well controlled. As a result, profitability metrics

are healthy,� Fitch added.

In its report, the rating agency also reviewed the capital adequacy of Stanbic IBTC in compliance with regulations and concluded that it was very strong and compared favourably against peers. “Fitch expects these levels to be maintained.�

The liquidity position of Stanbic IBTC was reviewed and its ability to meet foreign

Continued on page 8

TOP GAINERS CADBURY DIAMONDBANK CAVERTON LINKAGE LEARNAFRICA TOP LOSERS FIDSON GUINNESS CCNN

NGN NGN 1.31 14.25 0.11 1.37 0.07 1.50 0.03 0.65 0.04 0.65 NGN NGN 0.19 3.61 4.87 92.64 0.48 9.39 MOBIL OIL 7.44 152.21 C & I LEASING 0.06 1.28 HPE Nestle Nig Plc â‚Ś1,330.11 Volume: 500.192 million shares Value: N6.356 billion Deals: 4,966 As at yesterday 4/12/17 See details on Page 41

% 10.1 8.7 4.9 4.9 4.3 % 5.0 4.9 4.8 4.6 4.4

T H I S D AY TUESDAY DECEMBER 5, 2017

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STARTERS

Court Orders Arrest of Severely Sick Nnamani Davidson Iriekpen Justice Chuka Obiozor of the Federal High Court in Lagos yesterday issued a bench warrant for the arrest of a former governor of Enugu State, Dr. Chimaroke Nnamani, for refusing to appear in court for his re-arraignment.

Nnamani, who was governor between 1999 and 2007, is facing a 10-count charge of laundering N5.3 billion instituted by the Economic and Financial Crimes Commission (EFCC).

The judge also ordered the arrest of Nnamani’s aide and co-accused, Sunday Anyaogu.

Justice Obiozor, who was livid, said: “There is no evidence shown to the court as to why the defendants are absent, there is no justification for the continued absence of the defendants. “In the absence of any convincing evidence, it is hereby ordered that a bench warrant be issued against the defendants and summons to their sureties to show cause.�

He adjourned till December 14 for the re-arraignment of the defendants.

Both defendants were first arraigned in 2007 alongside their companies – Rainbownet (Nig) Ltd, Hillgate (Nig) Ltd; Cosmo FM, Capital City Automobile (Nig) Ltd, Renaissance University Teaching Hospital, and Mea Mater Elizabeth High School.

In 2015, all the companies pleaded guilty to the charges but the trial of Nnamani and Anyaogu has been stalled due to the former governor’s frequent trips abroad to treat a heart ailment.

Yesterday, Justice Obiozor, the fourth judge to handle the matter, made it clear to the defence lawyer that he would not tolerate any attempt to further delay the trial.

The visibly angry judge said: “It is not a case of more haste, less speed. The defendant may not be guilty but the matter must be heard in court.

DECEMBER 5, 2017 Ëž T H I S

NEWS

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To Stem Grow ing Orders Release Fuel Queues, Kachikwu of Products in No plans to incr Storage ease price of petr ol, Email davidso

Olawale Olaleye, Alike in Lagos Ejiofor and Okafor in Abuja Chineme

News Editor Davids

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0811181308

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NNPC assures

the source explained.

The source also at coastal price Kachikwu probably hinted that only for the of N117 per litre, marketers depot owners to now rely on throughput saw this coming Worried about “As you could the implication a long time ago, when he had been to the independent marketerssell with other depot owners see around the s of fuel queues and this at means additional Affairs, Mr. Ndu at this time of warning the NNPC that queues ex-depot price of N133.28. cost. NNPC said country we have a lot of trucks the year, the Minister might return to Ughamadu that yesterday IPMAN also that they are siding in Abuja that its ex-depot for Petroleum Resources,of State they pulled the streets unless down over threatened to shut tests on are still running integrity station. at almost every filling price of petrol back and allowed the pipelines,�

900 We already he said.

Kachikwu, yesterday Dr. Ibe private sector in Lagos and filling stations The refusal of products that will have sufficient per litre, while was still N133.38 players improve Ogun stations most private last till the end of petrol pump price their the Nigerian National ordered participation on the year, leading importation, adding by December 11, if the NNPC marketers to import petrol to next year. We remained N143 to N145 per Corporation (NNPC) Petroleum that the NNPC, as a have continued to undersupp result of litre.

NNPC said these ly petrol from the low margins arising 35 an average consumption of products on storage to release all had continued on the contrary to its members. prices have not challenges of million litres changed, and to import 100pct. the current shortfalls to cover for The The tightening and the high cost accessing forex moment, I haveper day and at the stock of petrol that it has enough that might the source, who hoped that to ensure seamless have precipitated was learnt, stemmedfuel supply, it at the internation of the product of petroleum one billion litres supply vessels being expected the resurgence and product distribution al largely would market, of fuel queues. in my from arrive on time of it across said Kachikwu’ the Apapa jetty fire incident, which aggravated the situation also for the year,� Baru said. tanks the country. s A source at NNPC, intervention was There were queues “We will not have The corporation just to ameliorate affected the pipelines that transport any problem; at this developmen who hinted the current situation in many product from imported enjoined parts of Lagos before it gets yesterday but the it will not recede. So be assured motorists and other users vessels to both the minister t, said although out of hand, the depots of the that God willing, of petroleum products noting also that and major marketers, pump price was still N145 per this Christmas Managing Director the Group would not litre. and also No last more than it who depend on NNPC’s trending rumours to disregard New Year will imported lost fewer than four people without two products. of Maikanti Baru, of NNPC, Dr. weeks. an be impending done their lives with fuel price hike, adding were not in the any cues several others country as at last that it has the Baru had told A source severely sufficient products – there are full commitmen night, all over t of all downstream Kachikwu immediately however, the inauguratio journalists during which is ownedclose to the jetty, which injured when the jetty, He said the threat Nigeria.� stakeholders including is operated by n of NNPC’s Ultraby the NNPC but responded to the developmen

by IPMAN marketers petroleum marketers caught the major oil to embark on t, having deemed Mega Filling Station in Sagamu, operated by the major marketers, and industry unions strike fire in September it of utmost national Ogun State at the in price of the over instability cooperate with to weekend that the told THISDAY that the fire affected when hoodlums tampered product was the it in achieving a zero with the According to the importance. corporation had the integrity of fuel scarcity this season the pipelines that manifold, which is the connecting saddest thing that could while Kachikwu NNPC source, billion litres of in its reserve one supply product and beyond. happen, petroleum was It also from imported pipe to the vessel, to scoop fuel. stressing that the N145 per back to the country on his way to serve Nigerians products vessels to litre to engage asked motorists not Though of petroleum the in panic buying Vienna en route last night from Christmas period during the marketers. depots of the major that the the NNPC had assured unchanged products remained or London, where he indulge in the dangerous damage would and till end of . had gone to attend practice “The NNPC had few weeks, THISDAY be fixed in Meanwhile, the the Organisation the year. promised that NNPC has said of stocking petroleum products gathered that for Petroleum Exporting However, THISDAY they would complete repairs it has in have no jerry plans not Countries that cans at home, been completed. to increase the prices gathered within the (OPEC) meeting, distribution noting Baru of petroleum few weeks but up repairs that its downstream Baru, till now, that had assured at the weekend ex-depot products both at the hand was in London on the other by the NNPC challenges faced they have subsidiary NNPC had companies, not completed have created scarcity to receive a of level Forbes award. petrol as only eight work and the market the repair of petroleum one billion litres ahead of the and filling stations Marketing the Petroleum Products products and urged forthcoming Christmas Company is beginning “I can tell you 35 functional depots out of about to feel the impact celebration.

NNPC Retail Limited,(PPMC) and of the fire. Major Nigerians to ignore any threat that the minister authoritatively product yesterday. in Lagos had of fuel scarcity during It said in a statement prepared to ensure were fully reached out to the the Yuletide.

NNPC this night that motorists from its A market survey Group General (yesterday) and Manager, Public enjoy uninterrupted access to petrol asked us to release THISDAY showed conducted by throughout the that the eight country. storage to cover all products on depots were the selling product importation for the shortfalls on ex-depot price at next of “I also understand two weeks. and N143 per between N140 litre, against the that part of the problem is because of lower approved government’s ex-depot volume deliveries price of N133.28 of per caused the current cargo, which The Independe litre. shortage. nt Petroleum But Markers more vessels, I Association of think Nigeria more are on track about 30 or (IPMAN) had next week and to arrive from accused the at the weekend NNPC all should be ok,� petrol to only the of supplying depot owners

Buhari Returns to Abuja after Attending Coun ter-terrorism Summit in Jordan He l d

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Nigeria The recent death of a lecturer with the Kwara State University and a 300 Level student of the AbubakarTafawa Balewa University, Bauchi through suicide has again brought to national limelight the rate at which many Nigerians are now taking their own lives. Page 15 I

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Letters to the Editor

Nnamani “After 10 years, we are still talking about arraignment and re-arraignment and tomorrow we’ll see the headline that the judiciary is to be blamed.�

Earlier, Shamsudeen Abubakar, counsel to Nnamani, told the court that his client, who is “severely sick�, had just undergone heart surgery in the United States and was still recuperating in hospital. “We received the hearing notice to appear before you in respect of this matter just last Thursday,� Mr. Abubakar, a lawyer from the Ricky Tarfa Chambers, informed the judge. “Unfortunately, the first defendant (Nnamani) is bedridden in a hospital in America. When this matter came up on November 30, we tried to reach out to the family. “I was reliably informed that the defendant had heart surgery and we wanted to get a medical report but unfortunately we could not.�

Abubakar said his clients had regularly attended his trial and that the absence was not a deliberate act.

Arise, currently a governorship aspirant in Ekiti State, later defected to the All Progressives Congress (APC) due to irreconcilable differences with Governor Ayodele Fayose prior to the 2015 general election.

Arise, according to the family source, was abducted while returning to Abuja from Oye Ekiti, his country home.

The APC chieftain was said to have attended a ceremony at Ikere Ekiti on Saturday, where a chieftaincy title was conferred on retired Assistant Inspector General of Police, Mr. Tunde Ogunsakin.

After the ceremony, he returned to Ado Ekiti and visited the golf course along the Federal Polytechnic road before heading to his country home to meet with his political associates.

One of his closest allies, who craved anonymity said: “Yes, he visited Ekiti State on Saturday before returning to Abuja.

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Letters in response to speciďŹ c readers may publications TO opinions on send such letters along in THISDAY OUR READERS topical local, should 1000 words). national and with their contact details be brief (150-200 They should internatio words) and to opinion@ be sent to opinion@nal issues provided straight to thisdayliv

OPEN LETTE

Asked by the judge why Nnamani stopped attending trial since 2015 when his surgery was only last month, the defence lawyer said it was the period the said companies had pled guilty to the charges. “The first and second defendants are appearing in this case in their personal capacities and have nothing to do with the companies’ guilty plea,� the judge said. “I’m not for or against anybody. You tried to reach the family of the first defendant and could not but you were aware he went to surgery,� he added.

Kelvin Uzozie, counsel to the EFCC informed the court that the photographic evidence by the defence lawyer to prove Nnamani’s recuperation in a US hospital had been in circulation since 2014. “I don’t need to tell the defence lawyer what to do, the (defendants’) sureties are supposed to be here to show cause as to why the defendants are not here.�

Editor’s Note: THISDAY check reveals that Nnamani had a major heart bypass and he is recuperating in the USA.

“When we wanted to establish contact with him, we could not. The last time I called him was around 6 p.m., so the kidnapping must have taken place around 7 p.m. “They have contacted us and demanded the sum of N80m ransom.

We are worried because we don’t know his situation. “The family is working hard to secure his release and we have contacted all the relevant security agencies including the police to come to our aid,� he lamented.

However, the Police Command in Kogi said it was not aware of the reported abduction of the senator.

The Police Public Relations Officer for the command, ASP William Aya, told NAN in Lokoja yesterday that the Okene-Lokoja road where the senator was said to have been kidnapped was under effective policing, saying that the claim was in doubt.

STANBIC IBTC RETAINS AAA NATIONAL FITCH RATINGS support of its parent company.

He reiterated Stanbic IBTC’s commitment to the Nigerian market and pledged that it will continue to provide support to all sectors of the economy in order to keep moving individuals and businesses forward. “We are elated by this validation of our strength. This will help to boost our drive to build a strong end-to-end financial solutions institution that offers bespoke

Kachikwu Orders Release of Products in Storage Worried about the implications of fuel queues at this time of the year, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday ordered the Nigerian National Petroleum Corporation (NNPC) to release all products on storage to cover for the current shortfalls... Page 9

EDITORIAL Growing Rate of SuicideS in

Police dispute abduction claim

The former Senator representing Ekiti North Senatorial District, Mr. Ayo Arise, has been kidnapped by suspected kidnappers.

He was kidnapped alongside his driver on Sunday evening along the Okene-Abuja highway.

The popular politician was said to have been travelling in his Mercedes Benz SUV when the gunmen struck by blocking his car and ferrying him into the bush.

The abductors have since contacted the family and demanded N80 million ransom, a source close to the family said yesterday.

The abducted former parliamentarian was the Chairman, Senate Committee on Privatisation between 2007 and 2011 on the platform of the Peoples Democratic Party (PDP).

NEWS To Stem Growing Fuel Queues,

President Muhammad u Buharihas returnedt Ab j

Senator Ayo Arise Kidnapped, Abductors Demand N80m Ransom Victor Ogunje in Ado Ekiti

Two-Minute BrieďŹ ng

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the point. Interested thisdaylive.com they are well-writt e.com. We also welcome R TO KADU en and should along with the comments also not be longer and email address NA STATE H and phone numbers than (950of the writer.

OUSE OF A SSEMBLY IS BUHARI S losing confidence in him. The his policy ECRETLY EN governor must before he went ahead members of RICHING M to implemen have weighed of the peoplethe state house of assembly t it. Sir, the USLIMS? of the state are representa excesses of tive the governor. and need to act fast his is one question The to

write to draw the attention Speaker, Kaduna of Alhaji Aminu ongoing massive State House of Assembly, Shagali, sacking of tive governor civil servants to the by the execuMr speaker of Kaduna state, Malam sir, you are Nasir El-Rufai. this administra aware tion, the state in the last two years subjected to of carried out all manner of hardshipcivil servants have been by deny the fact the state governme by repeated screening nt Whil that c i id

POLITICS PDP in Make or Mar Convention

In the next four days, the Peoples Democratic Party (PDP) will hold its national convention that many observers believe will either make or mar the party as it prepares for the 2019 elections. As the day draws closer..

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T

tame the

implications of th

people now l

because th f

POLITICS

T H I S D AY

EXECUT

IVE BRI EFIN

PDP in Mak e or

Ëž TUESDAY, DECEMBER

5, 2017

Group Politic s Editor Tobi Soniyi Email tobi.so niyi@thisday live.com 0803314613 9 SMS ONLY

G

Mar Conven tion

Next Saturday’s national conve ntion of the Peopl to take back powe es Democratic r from the All Party will determ Progressives Congress in 2019, ine n the next four days, Democratic Davidson Iriekp the party’s preparedness the Peoples Party national convention (PDP) will hold en writes its believe will either that many observers make

I

or mar as it prepares for the 2019 the party As the elections.

Secondus would question that day draws closer, one major is that fact while have over the South-we party has beenkeeps recurring is whether the zone has st, able to conquer the whose votes acrimonious six candidate the ghost of would be shared, leadership has two with selection. the South-sou s So far, a lot th Secondus. It the favourite candidate as to whether of concerns have been is being raised the party can National Vice for this reason that forward in take its best a former Chairman managing its foot west, Chief its new status affairs and Ishola Filani, of the party, Southperform convention has Part of the as the main oppositio would either warned that the n party. fear is whether future of the make or mar imposition; impunity and the culture of to ensure a party. He urged stakeholdthe endemic in cronyism candidate from the ers emerged as sedate interest party. Most of those whois still the South-we the national st in show PDP’s ability chairman of for the first affairs in the to manage the party time to avoid its party in the the death of point to why best of democratic tradition, zone. the it lost the presidenti Filani stated and the emergenc al that election the e national of the stop-gap position had chairman, Ali chairmans been zoned national Modu Sheriff. the May 2016 to the South-wes hip This is why National Conventio t in why some interest the elective many party leaders have n, wondered primaries of groups were said the agreemen determine working against the party would its fortunes candidacy. t by supporting South-sou whether or in 2019, including not th’s He said: “PDP by the electorateit would be taken seriously not been occupiednational chairman Even though . ship has by the there are other every other grab during positions for geopolitical South-west while the it. We discover zone had occupied chairman, is convention, that of the national the South-sou of late that our brothers position. As obviously the most important th said they in national chairmans want to contesting for at last count, the aspirants the position hip. We want contest the our brothers national chairman are former deputy to appeal to that the South-wes of the party, the former Minister South-eas t will Bode George; support zoned to the t to grab the vice presidenc media mogul of Education, Tunde Adeniran; South. y But the Oodua Secondus governorship Raymond Dokpesi; former aspirant in PDP Alliance support for Agbaje; ex-govern Lagos State, PDP drummed Jimi or of Oyo South-west Secondus and called Ladoja; former State Rashidi emerges among them to drop the on the as the national leadership. bid for the of the great Uche Secondus deputy national chairman The , transparen party as long as the chairman members across group which claimed party State, Gbenga ; former governor On his part, t, free and fair to have process is of Ogun the six south-wes announced of Makarfi George called for the resignation in accordance provisions Youths and Daniel and former Minister tern-states, its ahead of with the Sports, Taoheed of guidelines of the constitution of axis of the PDPresolve to mobilise the While many the party and convention. Speaking the party’s national Yoruba of the elective for Secondus, party faithful Adedoja.

Rivers State through the General of his no aspirant national convention have urged describing in the South-wes politician as Director shall leave stakeholders campaign ; t his or and competen tested, experiencthe to ensure a from the region her supporter the party or encourage Aliu, he added that an organisation, Ibrahim t candidate ed alleged 2019 s, promoters ambition of In a statementto lead the party. so, as a result for the first emerge as the national presidential Makarfi had etc to do chairman time to avoid of the outcome signed by group who affected conduct free, chairmans party in the is also a leader the leader of the fair and transparen his ability to zone, others the death of the conventio hip election at the of the national State, Hakeem position was George alleged of PDP in Osun feel that since elective national t n. zoned that spurred convention. the that South-wes Ogunsola, the group ambition of should to allowed to the entire South, With the signing by personal affirmed contesting of the pact, hopes to contest especiallyothers that a rancour-fre for the party t has proved its unprepare office in 2019, for the party won were high leadership, dness Makarfi was the presidential e since But leadership should affirming and South-eas more states in the South-sou brazenly allying allegations thatconvention was in the offing. with a particular go to South-sou that “the t. aspirant in Makarfi th imposition base of the to deliberate Though observers th, the main PDP. of an aspirant is working for the ly distort the the South-south had thought equity and “We want to was also making being very process, muddle that the PDP round with Adeniran invariably destroy strong the and winning note that rebuilding threatening of the peace South-east, would in the South-south the PDP to pull out process for transient personalthe democratic pact. George and the called need to woo a chairman power back in 2019 with the chairmans But Secondus on his part, gains. for the resignatio the South-wes demand t the National experience with solid home base, n of the Chairmanhas that he was an has disclaimed insinuatio to create another hip position in order and capacity anointed candidate Caretaker Committe ns not the party, of of incumben to face the deep the party needs crisis, many others of the party e (NCC) of leadership and by extension Senator Ahmed power feel that a zone where to lead this cy. We need Prince Secondus He also stressed accused the and where Makarfi. Adeniran the governors it is very electoral and party’s there is no . rescue Nigeria national chairmans that at no time political battles crisis and laterstrong to impose Secondusleadership of aiding the South-we was the and change moves South-wes to hip position on the party the the Meanwhile, st with political appointm woo December 9 statement fake micro-zoned t geo-politic change,� national conventio ahead of the from while Daniel, ents. to the discordan noted. While condemni Ladoja and Specifically, the zone. He al zone by stakeholde n. t and rancorous Adedoja feel Adeniran, Dokpesi, he accused the ng rs added among South-we was zoned of tilting take to lead that they have Makarfi-led to the 17 states that the position the party, observers st chairman competition NCC way all it committethe composition of ward the group s in the so th duo of G ship a i the pr id a d f l h id “ i f

FEATURES A Bloody Convention

FEATURES

It was supposed to be a routine exercise during which students from tertiary institutions in the Southsouth region gather to periodically elect their rep- resentatives who would oversee their welfare and other related activities for a given I number of years.

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TUESDAY, DECEMB

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Ëž T H I S D AY

Acting Featur es Editor Charle Email charle s Ajunwa s.ajunwa@this daylive.com

A Bloody Co nvention

Emmanue l Addeh, in the National this Associatio piece, examines the State last n of Nige week rian Studentsviolence and bloo dshed zonal conv ention in that occasioned Otuoke, Baye lsa

Late Elvis

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urdered in

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t was supposed Elvis...play during which to be a routine exercise ing snooker students from game the police institutions tertiary said that they in the South-sou of the suspects, gather to periodica had arrested th region the students' including the President 15 of their lly elect their resentatives belonging of s. welfare and who would oversee rep- Benjamin whobody in Bayelsa, The police Perewari their the other related a given number commercial led the team that attacked the students' added that two activities for factions of buses, they said they bus drivers meeting which of years. But body came their valuables last week’s and took away noting that persons from in from UNIUYO wanted to took place .

November pick some Police from were arrestedsome of the students , “When we Biogbolo. in sorrows, turned out differentl 25-26 of ammunit said they recovered were who said got there y: it ended ion from the arms and reprimand and had already under serious (Biogbolo), there were the lyrics of tears and blood, to borrow two suspects, including some persons promised to they behaviour wanted to a song by from two locally-made single-ba be of good before Fela Anikulap at Ebis they late Afrobeat pick. By the live ammunit Commissioner the incident.

Ebis, we picked rrelled pistol; legend, time ion; five 9mm Not only dido Kuti. munition and of some persons. we got to “After that, the students live am- Asuquo said that Police in the state, they also allegedly in a vehicle charms, some of them kill and maim, Aaron Wisdom, Akpan Esuabang They said I asked them to whose occupant kidnapped, found tortured some Gabriel, Etefia by one Gabriel a, Expressw their boss was pay my money. robbed, and s were led Akwaoso Uwankm on Isaac Boro Duff, the non-students. of their victims, ay and that Government fon, all from Otobong, they would were among Students Union including when we UNIUYO those The participa got pay. of Uyo. He’s President of the University with the attempte arrested in connectio , we did not see By the time we got there, nts in the still fully armed being d murder. imbroglio Aside the there, anybody. held n boss was He listed were ing They shooting and by the police. the three other arrangementsand spoilt for war, in nected of one I told them the Aritalin area. said their eventual despite made by agencies in It was then I was not Uyo studentElvis Magam, a Universit kill- campus with the murder suspects conall the security the “One of them going to Aritalin. on the school as Emmanu y of and A day before state to avert violence. event, one who was participat said el and Ebere, I Obiakarij was the event, the he slapped ing in the talking rubbish Okon led Bayelsa e Innocent, Universit Tonye Samuel, a me. As he slapped Amba remains of noting that Ben joined him and the of meetingsPolice Command had Asuquo- was also y of Port Harcourt student of the at me, others the and the morgue.deceased had been deposited , Rivers State, with the students had series shot my brothers.they started beating security agencies Some of the and severely wounded One of them me Those who hand into and sister to ensure suspects conduct of hijacked my dipped . buses at gunpoint pocket and also hijacked the drivers, the buses and the peaceful his I wanted the students' took the N50,000 he said, were three Suoguai of the words to send injured which they Ammasoma Asari Enagob, pay my children’ to my wife in Lagos hired from of caution polls, yet none Bina, Ibe Ogbonna Park in Biogbolo, the trouble take them mattered Ekperi Kenneth, s school to started. “He Yenagoa, to , Igbanibo to the venue when injuring Indeed the Kemefie Ebimene Tari, phone took the money andfees. in Otuoke, Chukwum the drivers my and seized a Lawrence tion, Prof. SethVice Chancellor of and disposses seriously year students my vehicle ATM card, , most of them and them brought the instituJaja, had before sing them delegates commenc key. One of the Niger final to hit out Amassom registration Delta University my head,� a gun and used the of a in ed, personally of the participan butt , Kehinde said.

The CP notedSouthern Ijaw local addressed ts, pleading According good behaviou council that despite to him as with them of 11 p t his h d bl d th d t b b f l

BUSINESS Kachikwu: Nigeria Can Maximise

OPEC Exemption with Low Production Cost The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria could make the most of her exemption from oil production cap agreed by member countries of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries... Page 31

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D E C E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DAY QUARTER-TO-DAY YEAR-TO-DAY

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Quick Takes

Techno Oil Sensit

WOMEN OF SUBS TANCE

L-R: Chairman, Corporate and Specialised Exhibition Committee, Institutional Managing Director, Lagos Chamber Banking, Sterling of Commerce T & R Energy, Women Group, and Prisca Kanebi, Bank, Mojisola Bakare; in Lagos‌re Group Head, Industry, ‘Tola Gbogboad during the seminar cently Agric and Export, e; General Manager, on Women Empowerm Mrs. Bukola ent and National Awosanya and Development, by the LCCI

Kachikwu: Nig Exemption with eria Can Maximise OPEC Low Producti on Cost ENERG

Techno Oil Limited ises has presented Church on LPG gas stoves to indigent parishione 50 pieces of 6-kilogram Catholic Church me in Lekki, Lagos.rs at St. Phillip and Addressing James the company, Mr. beneficiaries, the Manager, the Corporate Eugene Osimiri said the Sales (LPG) of the gesture was �This gesture Social Responsibility initiative part of is a CSR initiative, of Techno Oil. indigent women of in the church aimed at empoweri cooking with towards switching ng and cleaner kerosene, firewood and from fuel-LPG,� charcoal to he said.

He reminded a reliable the hazards associatedwomen of the inherent danger and with kerosene, when used firewood and health for Osimiri advised cooking. charcoal the parishioner LPG, saying that LPG shoulds not to look back in of choice among embracing the populace. be made the preferred He recalled fuel that tive in the past Techno Oil had carried out a similar among market Surulere, Ibeju-Lekk initiawomen in Oyingbo, i and Epe, near The manager Eredo, Lagos. assured that be at the forefront Techno Oil would of initiatives and save lives to secure the continue to as well as empoweri environment of the populatio ng the hapless Osimiri lauded n. segment the LPG Commerce and Industry Group of the Lagos Chamber ment for partnering as well as the of effort to popularis with Techno Oil Lagos State Governover the years e LPG. in the

Fire Guts TCN

Substa

A 30MVA 132/33kV tion in Enugu power Company of Nigeria (TCN) transformer of the Transmiss Chineme Okafor transmission was lost to ion in Abuja substation, Enugu at the fire at the Nkalagu TCN said in a statement weekend.

The Minister transformer Y get our cost of State for which had alreadythat the old 30MVA Petroleum Resources to a point that in December ment in line power reasonable been earmarked is a barrel.

2016, Kachikwu , Dr. Ibe explained with TCN’s Kachikwu, has for Expansion , to the high and comparative Nigeria was Programme Transmission Rehabilita replacecould make said that Nigeria its competitiv “So, performing losing (TREP), was by fire, Friday tion and the OPEC enjoy cost is key for us eness amongst members – Saudi Arabia, unfortunately exemption from most of her other to the benefits Although the afternoon. gutted cap agreed by oil production high oil producers with its Iran, it doesn’t matter and tions that we of the exempTCN said that cause of the fire is still production have. We have member countries what come numbers anybody being investigat its engineers of the Organisatio cost. down working According from gives an all-time of ed, n of Petroleum us, $28-29, to quickly restore were already in the to him, the we are blowing it, Exporting Countries and now about country currently substation transformer supply through and that is why you $23-24, (OPEC) oil in and non-OPEC the second 30MVA, produced see me shouting but that is nowhere The statement the substation. at between near where we should $23 and $24 all the time about cost,� working hard countries, by per further noted installing be. barrel, We that Kachikwu to said need to be a new NIPP is also edging towards cost of producing reduce the competitiv and that it was not . in the substation 60 MVA, 132/33kV currently $18-15, and He further stated: e when a barrel of power transform oil from her , TCN would to other producers compared to work track the installatio “I will have is going to be the big workthat fields. discuss er with the next year.� for Speaking in like Saudi Arabia and TCN apologised n to further boost with NIPP to fast parastatals and NNPC, all the Iran. He noted the stations with THISDAYan interaction this The minister for every oil companies that consumers capacity. would have inconveni also talked in Vienna in about the governme to come down to keep driving those during the for her Water Works. parts of Nsukka, Ihiamufu,ence to electricity numbers 173rd nt’s plans for the sector OPEC countries, meeting of output to fully maximise the down because quite Afikpo and It pledged in 2018, indicating frankly, Ezilo exemption given even and the third that meeting of to her and if I have a million barrels that other than driving by the group. affected areas power supply would the I am producing down production costs, in a few days. be restored non-OPEC alliesOPEC and its “The next battle to the at $15 of a barrel, if sion was made where a deci- cost, gas would development Ezekwesili, because at the for me is calculation you do a simple position take a priority oil production to extend the these, , you end A former MinisterOthers Get it doesn’t matter of all that your returns will find out industry.in its itinerary for the cut they agreed Soyinka Award what good the volumes are about as Executive Director of Education, Obiageli as are if we do He explained Ezekwesili, of the Media not barrels you doing two million Ojo, as well the that: “We Rights Agenda, and producing as ten distinguis shortlisted for Edetaen at $30 hed journalist s have been Continued for Investigat the 12th edition of the on page 22 Wole So i ive Re A k i

NNPC’s Exit of JV Cash C D ll

PROPERTY West African Real Estate Market

Remains Favourable for PROPERTY & ENVIRONMEN Occupiers,SaysBroll West African T Occupiers, SayReal Estate Market Rem s Broll ains Favourabl slight improvement in Nigerian e for GDP growth, reduced inflation and A increased foreign exchange supply in the 3rd quarter of the year are helping the Lagos property market to emerge from a recessionary dip, according to Broll Nigeria in a review of theWest African real estate market presented recently.

Page 38 T H I S D AY

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ER 5, 2017

In the light of wider macro -economic challe optimisation of space and nges, corporate opera Broll Nigeria. occupiers in West Bennett Oghif tional cost reductions, accord o reports ing to Nnenna Africa remain tightly focuse Alintah, Head d slight improvem of Occupier Servicon the GDP growth, ent in Nigerian in transactio es for n activity in and increased reduced inflation record 2018 if foreign continuing

exchange majority supply in growth. And economies in the the 3rd quarter financial and with the vast of the year are technology of and low B-grade stock being helping the sectors in the sub-standard last three years.� in amenities , there is scope to occupier a recessiona property market to emergeLagos redevelopment Now, Alintah space. ry for the to of existing from The conversio in a review dip, according to Broll “With a reduction be scrutinise said, the market will stock. of the West Nigeria and need d to find which n of lettable in take-up will drive demand market presented African real gas sector, demand from space for industries complementary uses estate in the next recently. could also of a refreshed drivers have the oil “Mixed-use Broll said, form part emerged real estate buildings and 6 to 12 years. “Five consecuti greener working dynamic. “Unless the negative growth, the creation ve quarters current spaces may of tenants and vacancies a building stock supply of become integral will continue demand base widens, ranging from glut concludes Sekyere. to dictate rental prime-grade levels,� buildings have 50% to 76% in market condition created real estate s which shift. While some relief may be difficult to could now for landlords, be in sight for occupiers the market remains favourabl . e “In Ghana provement there has been a steadier in imof 2017. In fact indicators since the beginning economy to the IMF expects the Ghanaian grow back of daunting 5.9% by year-end on Tony Sekyere, commodities challengethe s.�

Management, Broll Ghana Head of Property ment policies stated that aggressive governeconomy mayaimed at stimulating the general boost the real However, in estate spite economic indices,of the emergence of sector. positive Sekyere office market will remain believes that the in 2018. a ‘tenants’ market’ “This is an indication of on the ground,� tenants being thin will thus remain says Sekyere. “Landlord open to flexible s and rental lease terms charges.�

For occupiers, increased fit-out attractive incentives such as more flexibility contributions by landlords in rent payment , a broader range of building frequency and stay on the amenities will cards for the “Occupiers foreseeable will future. their real estate continue to be discerning in their bottom-lin decisions in order to ensure adds Nnenna e costs are well managed, Alintah, Head �

Services for of Occupier Broll Nigeria. “That being and investors said, the outlook for developer may include a slight upticks L-R: Member, Estate Surveyors induction of members

Speakers Read y

at Fusion of

and Valuers Board of Nigeria, of the Board Mr. Wole Aboderin; in Abuja‌ recently member

Real Estate,

of the Board,

Chief Eugene

Oleru; and member,

Mr. Victor Alonge, In preparatio at the gest luxury n for the big- and Art Industries year; FREIA event of the These names .

As predicted, persons have 2017, some key a pedigree come with FREIA, would come to and clout as speakers. been announced goes that name become the strongest to be the biggest luxury FREIA stands well with the in African event of the Fusion of Real for Estate, Interior exploring the three event in Estate, Interior Luxury, Real playersyear. It will host key distinctive arts and Design and different design experiences and stakehold industries Design and Art. as well as property uled to hold ers in these industries were strategica These speakers to create in an ingenious bid Art market. FREIA on the 8th stands December to discuss key acquisition opportuni for “Fusion of a unified optimise the lly selected to art ties and Ballroom, , 2017 at the Grand of Real Estate, issues relating to that can stand concept of Interior the unique partnerships. relationshi Design one-of-a-kind essence of the Azu Civic Centre, With an anticipated Nwagbogu, on its own. is a specially and Art�. It industries p between the three Afrocentric event Ozumba that would Agatha Ericfootfall Victoria Mbadiwe Avenue, tailored event of about 3,000 and opportun create a platform Udorie, Olajumok

by Luxury people; Island of ities to explore the e growth comprisAdenowo Villas Lagos, ing high net and Andrea Group set here in Nigeria. would have modules to converge worth Geday the Real Estate, synergy within that Other highlights of business, investors; FREIA brands and tellectual, would pull are names names in some the biggest day Interior Design inis expected to cultural and strings and the sector. would include of the provide a ring bells in artistic activities. The “FREIA an open collaborati platform for active these industries exhibition for . of its kind,2017� Being the first would end in eventful day ons and networkin partners, has been designed a gala night that would significantl g would that have and enthusias stakeholders Real Estate in Nig y impact of the soci an exquisite crop ts to showc t i i

‘Lack of Conti nuity Respo nsible f

Interior Desig n,

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P

SPORTS Pinnick Restates Faith in Rohr to

Make Eagles Soar President of the Nigeria Football Federation (NFF), Mr. Amaju Pinnick, has restated his faith Super Eagles Franco-German gaffer, Gernot Rohr, to deliver at theWorld Cup in Russia next. Rohr was rewarded with a fresh two-year contract a fortnight ago after leading Nigeria to qualify for Russia 2018 with Group B last game against Algeria to spare.

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RUSSIA

2018

Pinnick Restates Faith

T H I S D AY

Ëž TUESDAY, DECEMB

ER 5, 2017

Group Sports Editor Duro Ikhazuagbe Email duro.ik hazuagbe@th isdaylive.com

in Rohr to Make

Olawale Ajimotoka n in Abuja Eagles were in President of the “We are in a a decent group. champion Nigeria Football ‘decent Federation (NFF), s Argentina, Iceland two Mr. Amaju Argentina have such group.’ and Croatia Pinnick, has in Group D a high prestige pedigree and at and 2014), friendlies (2011 Super Eaglesrestated his faith Iceland Croatia and Russia 2018. the world while honours Argentina narrowly gaffer, Gernot Franco-German reachedare very good. Iceland two clashes in medals by winning bronze Rohr, to deliver in the the quarter –finals all four previous won at her maiden Eagles’ the World Cup at the European FIFA World the Men’s Olympic final of World Cup appearanc of Cup clashes FIFA round preparation for the final in Russia next.

Football Rohr was rewarded Tournament with Nigeria last year andChampionship at group Nigeria and Iceland e in 1998. FIFA of qualifiers for the 1982 (1996 and 2008) a fresh two-year topped their with qualifying phase: 1994, (all have been shared. have met lost World Cup, which only once before 2010, 2014) 2002, contract group, so they fortnight ago to Algeria home in Eagles have after leadinga no minnows in there.there are lashed the but the Eagles have Croatia and away. never played friendly match in history – a Incidentally, Nigeria to qualify La Albicelest Reykjavik He the two teams’ e in European– the small East on 22nd August 1981 clash in Russia 2018 with Group for Russia African commended that the the will also nation that shocked Strakarnir Okkar football against Algeria B last game for (Our Boys) the twenty –second day be on won 3-0. It its decision to body CAF month – 22nd of the was part of Speaking on to spare. support the June 2018 in the Volgograd the World continent’s five flagbearer Sport programm . preparatio s’ e of the ns Cable News with much for Russia 2018 Network (CNN) –needed from the station’s “We are banking cash. studio yesterday, London preparatio on good Pinnick n and the also banking is that our on the youthful young players belief team assembled in themselve have s. I am also happy do Nigeria proudby Rohr to that CAF is weighing next year. “We have a in with some the mentality coach who has each) good money ($500,000 he has imbibedof a winner, and of theto support the preparation the players with African the same attitude. can also tell flag –bearers. I you that CAF “We can do is very well at looking to see an African the World Cup in Russia. I in the semi –finals or even team am very delighted all the way to to go that we win have a team Pinnick said the trophy.� team for the for tomorrow; a the nobody gave Cup finals,� next (2022) World of Super Eagles any chance defeating stressed Pinnick who also doubles a friendly in Argentina in executive committeeas a CAF days Krasnodar 20 ago. member. “First and “African players commend allforemost, I must the light up the 32 qualified English teams because every weekend.Premiership from very intensethey came FC appear not . Liverpool qualifying campaigns. to be able do to matter at theWhat will then andwithout Mohamed Salah Sadio Mane, finals in Russia are factors such and Chelsea FC sometimes struggle of preparatio as the quality Victor n by each team, Moses. We havewithout the mental state of the players prospects in Russia.� bright and prayers Nigeria from He admitted back home. two –timewill trade tackles with that the Super L-R: Company world champion and reigning Secretary, Eunisell, s world vice Christian Weli and Ajibola Edward; Eunisell Lagos....ye GMD,

Eagles Soar

Rivers Utd, Euni Front-of-Shirt sell Renew I’m Flattered

by Barcelona, Man Sponsorship Utd’s Interests, Says Onyekuru sterday

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Skipper Festus targets trophy in next NPFL seaso n

Eunisell, Chika Ikenga; Captain unveiling of Rivers United United’s home and away jerseys FC, Austin Festus; Forward, for the next NPFL season in

Super Eagles’ Onyekuru, striker, Henry continue flattered by has said he is improve to work hard and offers linking step at a on his with top European him “There is no game. what’s in time; focus on were clubs like Barcelona and real Nigeria Profession Manchester have a strong faith secret, I for the nextfront of me and got able to win and I United, but also few in God is on the score and League (NPFL) al Football this sheet. I hope Anderlecht,�months- that to continue focused on wants to remain be he has blessed me new season. his current team. able to do Onyekuru to Rivers United club side, scoring more what I love said.

The Skipper of goals for Anderlec FC of Port Harcourt and the team, exclusivestriker, who spoke and I’m just focused The 20-year-o Austin Festus ht and Eunisell, Nigeria’s improving to on also expressed ld striker hopefully, win a trophy leading global on behalf myself, after nettingAOIFootball.com hard his two in the season,� or his delight the winner and staying working scoring his specialty fluid chemical and the teammates apologized of Anderlec Onyekuru for dedicated. for performance eight goal of in concluded. “It’s a company, have management of Rivers Utd. league ht in their Jupiler season, the “We The on-loan game recognized blessing to be delight saying it’s always front-of-shirt renewed their unreserve hereby by these clubs a has scored Everton striker tender in Belgium, at the weekend and to score the of course, it’s said he will winning competiti new season contract for the performa d apology for our 10 goals in scheduled to flattering goal for his team. all but I take ons and remains off in January. kick Althoughnce last season. “It everything a one for uswas a difficult match target of top European we were the Speaking at Nigerian but last U E F A because clubs I am happy of Rivers Utd’sthe unveiling Continent team standing CHAMPIO we composuof his tenacity and al campaign in NS LEA re in front of for the 2017/ New Jersey s l

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NEWS

News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

To Stem Growing Fuel Queues, Kachikwu Orders Release of Products in Storage No plans to increase price of petrol, NNPC assures Olawale Olaleye, Ejiofor Alike in Lagos and Chineme Okafor in Abuja Worried about the implications of fuel queues at this time of the year, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday ordered the Nigerian National Petroleum Corporation (NNPC) to release all products on storage to cover for the current shortfalls that might have precipitated the resurgence of fuel queues.

A source at NNPC, who hinted at this development, said although both the minister and the Group Managing Director of NNPC, Dr. Maikanti Baru, were not in the country as at last night, however, Kachikwu immediately responded to the development, having deemed it of utmost national importance.

According to the NNPC source, while Kachikwu was on his way back to the country last night from Vienna en route London, where he had gone to attend the Organisation for Petroleum Exporting Countries (OPEC) meeting, Baru, on the other hand was in London to receive a Forbes award.

“I can tell you authoritatively that the minister reached out to the NNPC this night (yesterday) and asked us to release all products on storage to cover the shortfalls on importation for the next two weeks.

“I also understand that part of the problem is because of lower volume deliveries of cargo, which caused the current shortage. But more vessels, I think about 30 or more are on track to arrive from next week and all should be ok,”

the source explained.

The source also hinted that Kachikwu probably saw this coming a long time ago, when he had been warning the NNPC that queues might return to the streets unless they pulled back and allowed private sector players improve their participation on importation, adding that the NNPC, on the contrary had continued to import 100pct.

The source, who hoped that the vessels being expected would arrive on time said Kachikwu’s intervention was just to ameliorate the current situation before it gets out of hand, noting also that it would not last more than two weeks.

Baru had told journalists during the inauguration of NNPC’s UltraMega Filling Station in Sagamu, Ogun State at the weekend that the corporation had in its reserve one billion litres of petroleum products to serve Nigerians during the Christmas period and till end of the year.

However, THISDAY gathered that distribution challenges faced by the NNPC have created scarcity of petrol as only eight out of about 35 functional depots in Lagos had product yesterday.

A market survey conducted by THISDAY showed that the eight depots were selling product at ex-depot price of between N140 and N143 per litre, against the approved government’s ex-depot price of N133.28 per litre.

The Independent Petroleum Markers Association of Nigeria (IPMAN) had at the weekend accused the NNPC of supplying petrol to only the depot owners

at coastal price of N117 per litre, only for the depot owners to sell to the independent marketers at ex-depot price of N133.28.

IPMAN also threatened to shut down over 900 filling stations in Lagos and Ogun stations

by December 11, if the NNPC continued to undersupply petrol to its members.

The tightening fuel supply, it was learnt, stemmed largely from the Apapa jetty fire incident, which affected the pipelines that transport product from imported vessels to the depots of the major marketers, who depend on NNPC’s imported products.

A source close to the jetty, which is owned by the NNPC but operated by the major marketers, told THISDAY that the fire affected the integrity of the pipelines that supply product from imported vessels to the depots of the major marketers.

“The NNPC had promised that they would complete the repairs within few weeks but up till now, they have not completed the repair work and the market is beginning to feel the impact of the fire. Major

marketers now rely on throughput with other depot owners and this means additional cost. NNPC said that they are still running integrity tests on the pipelines,” he said.

The refusal of most private marketers to import petrol as a result of the low margins arising from challenges of accessing forex and the high cost of the product at the international market, also aggravated the situation There were queues in many parts of Lagos yesterday but the pump price was still N145 per litre.

No fewer than four people lost their lives with several others severely injured when the jetty, which is operated by the major oil marketers caught fire in September when hoodlums tampered with the manifold, which is the connecting pipe to the vessel, to scoop fuel.

Though the NNPC had assured that the damage would be fixed in few weeks, THISDAY gathered that repairs have not been completed.

Baru had assured at the weekend that NNPC had one billion litres of petroleum products and urged Nigerians to ignore any threat of fuel scarcity during the Yuletide.

“As you could see around the country we have a lot of trucks that are siding at almost every filling station. We already have sufficient products that will last till the end of the year, leading to next year. We have an average consumption of 35 million litres per day and at the moment, I have one billion litres of petroleum product in my tanks for the year,” Baru said.

“We will not have any problem; it will not recede. So be assured that God willing, this Christmas and also New Year will be done without any cues – there are sufficient products all over Nigeria.”

He said the threat by IPMAN to embark on strike over instability in price of the product was the saddest thing that could happen, stressing that the N145 per litre of petroleum products remained unchanged.

Meanwhile, the NNPC has said it has no plans to increase the prices of petroleum products both at the ex-depot level and filling stations ahead of the forthcoming Christmas celebration.

It said in a statement from its Group General Manager, Public

Affairs, Mr. Ndu Ughamadu yesterday in Abuja that its ex-depot price of petrol was still N133.38 per litre, while petrol pump price remained N143 to N145 per litre.

NNPC said these prices have not changed, and that it has enough stock of petrol to ensure seamless supply and distribution of it across the country.

The corporation enjoined motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike, adding that it has the full commitment of all downstream stakeholders including petroleum marketers and industry unions to cooperate with it in achieving a zero fuel scarcity this season and beyond.

It also asked motorists not to engage in panic buying or indulge in the dangerous practice of stocking petroleum products in jerry cans at home, noting that its downstream subsidiary companies, the Petroleum Products Marketing Company (PPMC) and NNPC Retail Limited, were fully prepared to ensure that motorists enjoy uninterrupted access to petrol throughout the country.

Buhari Returns to Abuja after Attending Counter-terrorism Summit in Jordan President Muhammadu Buhari has returned to Abuja after participating in a two-day counterterrorism retreat, co-hosted by Jordan and Nigeria.

The News Agency of Nigeria (NAN) reported that the president’s aircraft which left the King Hussein International airport at 9.38a.m local time, landed at the Nnamdi Azikiwe International Airport, Abuja, at about 2.p.m.

While in Aqaba, President Buhari met with King Abdullah II of Jordan where both leaders discussed bilateral issues concerning Nigeria and Jordan.

President Buhari, during the meeting, stressed the need for inter-regional cooperation and information sharing towards tackling terrorism across the world.

According to him, these factors are important in checkmating the threat of violent extremism to global peace and security.

The president used the opportunity to thank the Jordanian king for his support and assistance to Nigeria especially with the recent donation of armoured vehicles and other military equipment to fight terrorism and insurgency in Nigeria.

In his remarks, King Abdullah advocated broader measures especially the use of cyber security in checking the influence of terrorists.

He pledged the continued support of the Kingdom of Jordan to Nigeria in its war against violent extremism.

President Buhari, who also spoke at the counter-terrorism retreat, urged leaders to speak up against the violent extremism committed by deranged people in the name of Islam.

According to him, all nations, irrespective of religion should partner effectively in implementing national, regional and global action plans to counter violent extremism.

Mr. Buhari reiterated the commitment of Nigeria to playing a leading role in bringing together countries of the West African subregion in a collective security arrangement.

He said that Nigeria was ready to share its experiences with a view to fashioning out comprehensive action plans in tackling the scourge of violent extremism in the region.

He, therefore, called for a stronger collaboration among the member countries of the Aqaba Initiatives to check violent extremism across the world.

The News Agency of Nigeria (NAN) reports that President Buhari and other visiting heads of state from Ghana, Mali and Guinea Conakry were hosted to a royal dinner by King Abdullah II.

PREPARING FOR THE BIG EVENT

Taraba State Governor, Darius Ishaku; Delta State Governor, Senator Ifeanyi Okowa, Chairman, National Caretaker Committee, Peoples Democratic Party (PDP), Senator Ahmed Makarfi, at the inauguration of PDP National Convention Organising Committee, in Abuja... yesterday

Dangote Crashes Cement Price Online, Partners Jumia Jonathan Eze In a new move designed to reduce price and ease logistics inherent in the purchase of its products, the management of Dangote Cement Plc has signed a pact with the e-commerce platform Jumia Nigeria to sell its cement to customers online.

At the unveiling of the deal in Lagos, Dangote Cement, Key Account Director, Chux Mogbolu, said the cement company was happy to partner online shopping giant, in a bid to make its product available with ease to customers.

According to the deal, Nigerians and corporate bodies wishing to purchase a minimum of 300 bags of 50kg of Dangote Cement and above can now order on Jumia from the comfort of their rooms at a reasonable price of N2,500 per bag as opposed to how much it

is sold in the open market and see them delivered to any place of their choice without any extra cost for transportation.

Mogbolu, however disclosed that the purchase would only be within Lagos, Port- Harcourt and Abuja for now.

He said: “Dangote Cement decided to work with Jumia Nigeria based on its credibility and excellent performance over the years in online shopping management,” adding that the new initiative would help arrest the scams perpetrated by online fraudsters who deceived the people by asking them to come and purchase Dangote Cement for N1,000 per bag.

“For now, the pilot scheme is in Lagos, Abuja and Port Harcourt, but we can extend it to other cities depending on the level of demand and performance of the new deal.”

“With the deal, Nigerians in

need of seamless supply of cement from Dangote can now place order and pay online and wait for the delivery in record time from any of Dangote’s nearest cement plant to Lagos, Port Harcourt or Abuja.

“We are starting with Minimum Order Quantity (MOQ) of 300, 600 and 900. We may increase it depending on demand surge as time goes on.”

Speaking on the deal also, Chief Executive Officer of Jumia Nigeria, Juliet Anammah, said the deal with Dangote Cement is part of efforts to deepen service delivery on Jumia Nigeria online platform.

She said she was of the belief that the deal would be beneficial to all parties involved and deepen further online shopping in Nigeria as obtained all over the world.

The Jumia Nigeria boss reflected

on the 2017 Black Friday festival run by her organisation and said the festival has attracted more than 14 million visits since the commencement of the campaign on November 13.

According to her, “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 real stores. 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 FMCG products which reflect the increasing relevance of Black Friday to the average Nigerian.”

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BUA Writes Buhari, Accuses Dangote, Mines Ministry of Sabotage Alike Ejiofor The Executive Chairman/CEO of BUA Group, Abdulsamad Rabiu, has called on President Muhammadu Buhari to intervene and investigate acts of sabotage against BUA Cement operations

by Dangote Group in connivance with top officials of the Ministry of Mines and Steel Development.

This was contained in a letter dated December 4, 2017, signed by Rabiu to President Buhari titled: ‘A Cry for Help: Wanton Abuse of Power by a serving minister geared towards sabotaging operations of BUA Cement’ where BUA accused the Ministry of Mines and Steel under the watchful eyes of the minister of trying to pervert the course of justice in a dispute between two of the nation’s economic juggernauts, BUA Group and Dangote Group.

BUA, in the letter, also stated that Dangote Group had connived with top government officials of the ministry, including using thugs and agents of the state to ensure that operations at BUA Cement in Okpella were disrupted despite

a suit pending before a Federal High Court due for hearing on December 5 and 6, 2017.

Furthermore, BUA in its letter, recounted that some armed militia said to be loyal to Dangote Group and his cohorts had unleashed mayhem on the over US$1billion cement manufacturing plant with the intent to destroy properties worth millions of dollars before the timely intervention of BUA security personnel and security agencies who ensured that no live was lost in the ‘illegal invasion’.

The letter said in what can only be acts of impunity, cronyism and corruption, pressure has been mounted on top government officials to force BUA Group to relinquish its mining area to Dangote Group and this was again manifested when senior officials of the ministry and high ranking police officers stormed the mining area of BUA Cement to enforce a ‘Stop Work’ order on November 29, 2017, despite another astrongly worded letter from BUA’s lawyers to the ministry refuting the claims made in the order.

In the letter, Rabiu described

UNAIDS: Nigeria Has Second Largest HIV Epidemic Worldwide Chiemelie Ezeobi The Joint United Nations Programme on HIV/AIDS (UNAIDS) has reported that Nigeria purportedly has the second largest HIV epidemic in the world and has one of the highest new infection rates in sub-Saharan Africa.

This is just as it said 720,000 Nigerians are on United States PEPFAR-supported HIV treatment with approximately four million Nigerians having received HIV counseling and testing services in 2017 alone.

The acting Public Affairs Officer of the United States Consulate, Kevin Krapf, made this disclosure during the commemoration of the 2017 World AIDS day held in Lagos.

The commemoration was organised by the consulate in collaboration with the Lagos State University College of Medicine (LASUCOM) led by the Provost, Professor Babatunde Solagberu.

With the programmed theme: ‘Increasing Impact through Transparency, Accountability and Partnerships’, Krapf said it reflects the US government longstanding leadership in addressing global HIV/AIDS, increasing our impact to move epidemics from crisis toward control.

He said: “It also highlights the historic opportunity to accelerate progress toward controlling, and ultimately ending the HIV/AIDS epidemic as a public health threat in countries around the world.

“Finally, it emphasises the critical role of transparency, accountability, and partnerships in reaching these goals.

“According to the Joint United Nations Program on HIV/AIDS (UNAIDS), Nigeria has the second largest HIV epidemic in the world and has one of the highest new infection rates in sub-Saharan Africa.

“Many people living with HIV in Nigeria are unaware of their status due to insufficient recommended number of HIV testing and counselling centres.

“Low access of antiretroviral treatment remains an issue for people living with HIV in Nigeria, and I welcome the new commitment of the Federal Government of Nigeria to use domestic funds to provide antiretroviral drugs to an additional 50,000 people living with HIV each year.

“The US government, through PEPFAR, has helped not only to save and improve millions of lives, but also transformed the global HIV/AIDS response.

“Currently, more than 720,000 Nigerians are on PEPFARsupported HIV treatment and approximately four million Nigerians have received HIV counselling and testing services in 2017.

“Also, approximately 50,000 pregnant women have received antiretroviral drugs to prevent mother-to-child transmission of HIV.” Krapf added: “We are at an unprecedented moment in the global HIV/AIDS response. For the first time in modern history, we have the opportunity to change the very course of a pandemic by controlling it without a vaccine or a cure.

“Controlling the pandemic will lay the groundwork for eliminating or eradicating HIV which we hope will be possible through the future scientific breakthroughs which will lead to an effective HIV vaccine and cure.

“The US government continues to lead the way in the global HIV/ AIDS response. But no one country or entity alone can end the AIDS pandemic.

“We are proud to partner governments, the private sector, philanthropic organisations, multilateral institutions, academic institutions, civil society and faithbased organisations, people living with HIV and many others in this project.

“Through this collective effort, we also expect to reduce the future costs required to sustain the HIV/ AIDS response.”

the invasion of BUA Cement in Okpella, Edo State, as a calculated attempt to undermine operations in and around BUA Cement in a democracy and a free market which is not suitable for the growth nation’s economy as it would lead to the increase in price of the commodity, the cost of construction and housing delivery across the country. This, he said, would also jeopardise the peace and security of the state.

He, however, affirmed to President Buhari that BUA Group as a responsible, responsive and law-abiding corporate body would continue to provide the necessary boost for the Nigerian economy to grow in line with the extant law of the country.

According to the letter, “We are writing to your excellency, the President of the Federal Republic of Nigeria as our last recourse in view of recent clandestine actions, activities and conduct of a senior minister, the Minister of Mines and Steel Development (herein referred to as the minister) in collaboration with Dangote Group and their cohorts capable of undermining peace and security in Edo State and operations in and around our BUA Cement Okpella Plant.

“The actions of Dangote Group with the collusion and connivance

of highly placed officials of the government especially the minister is directed towards destroying the business of BUA cement with the ultimate goal of creating a monopoly in the cement industry in Nigeria and control the entire cement industry and market in the country. This, with due respect, should not be allowed in a democracy and a free market.

Allowing such eventual monopoly is not only inimical to the growth of the cement industry and its attendant effect on the cost of construction and housing delivery to the mass of Nigerians, but also the economic wellbeing of the nation as a whole. It is worrisome that Dangote Group with all its visibility and international reputation is displaying such utter lack of respect for and trust in the Nigerian judiciary.”

He continued: “Having pursued the proper legal channels and taken lawful steps to resolve the issues, we were therefore constrained to make this passionate appeal to your office, sir to restrain and checkmate the illegal and aggressive activities of the minister, Dangote Group and their cohorts over the continued brazen attempt to use extrajudicial means to subjugate the course of justice.

“Their actions pose a clear and present danger to a free market environment governed by the rule of law and responsible business practice in Nigeria because if a business with our cloth, size and enormous contributions to the economy can be targeted in such a calculated attempt at mischief under an official cover provided by a serving minister, then what hope is there for smaller businesses or foreign investors who may wish to come into our country?”

They furthermore posed several questions alluding to the fact that there are pending litigation in Court between BUA, Dangote, Ministry of Solid Minerals, Cadastral office over ML 2541, ML 17825, ML 18912, ML 18913 and until a judicial determination of the rights of the parties is obtained from the court, any step(s) taken by any person whosoever to undermine the subject matter of the litigation in court will not only be contempt of court but will put a bold question mark on the anticorruption image being projected by the present administration of your esteemed-self, the President of the Federal Republic of Nigeria.

“Fortunately, Nigerians know your stand against corruption and impunity but it is also very clear

that if nothing is done, despite us pursuing all legal means available, Dangote Group would have sent a negative message about Nigeria to the world that he and his cronies are above the rule of law in Nigeria and no one or business entity is safe from their blatant acts of impunity.

What then will that say about the existing business environment in Nigeria and perception of your government’s anti-corruption stance?

“In view of the above, sir, we are therefore constrained to make this passionate plea to you as the most incorruptible Nigerian leader and the President of the Federal Republic of Nigeria to intervene in ensuring that these actions of the minister and Dangote Group - which have become inimical to the growth and confidence in the economy, be curbed while we await the outcome of the judicial decision on this matter. No one, no matter how well placed or how connected they are, should be allowed to be above the law or take it into their hands!,” he noted.

BUA is one of Nigeria’s only three cement producers with manufacturing plants in Sokoto and Edo States. They recently inaugurated their $1.2billion Obu Cement plant.

LOOKING INTO THE FUTURE

L-R: Head, Corporate Services Division, Nigerian Stock Exchange (NSE), Bola Adeeko; Chief Executive Officer, NSE, Oscar Onyema; Group Managing Director/CEO, Access Bank Plc, Herbert Wigwe; and Group Deputy Managing Director, Access Bank, Roosevelt Ogbonna, during the presentation of Access Bank’s Group five-year strategy to stockbrokers and investors at the NSE...yesterday

Herdsmen Kill TwoVillage Heads in Adamawa Daji Sani in Yola The Adamawa State Government has confirmed the attack on two villages of Dong and Lawuro in Numan Local Goverment Area of the state where two village heads were killed and property worth millions of nairan were destroyed by suspected Fulani herdsmen.

However, reports from the affected areas indicated that several people were also killed by the rampaging herdsmen in the early hours of yesterday, while others had fled the area as at the time of sending this report.

The Commissioner of Information and Strategy, Mr. Ahmad Sajoh, confirmed the killings but was not specific on

the number of casualties.

Sajoh stated that the security meeting held by the government yesterday was on the modalities to adopt in addressing the crisis between the herdsmen/farmers in the affected area.

He said the government was on top of the situation as traditional institutions in the areas are being involved to curtail the crisis from escalating to other neighbouring villages of the state.

Sajoh said the government was highly disappointed and disturbed with the way some people are peddling rumours and falsehood about the tensed atmosphere in the local council.

“We are appealing to our people to desist from peddling lies and rumours about the situation at hand.

“Let’s be on the side of restoration of peace as the government is also committed to restoring normalcy to Numan,” the commissioner added.

Corroborating the issue, the Secretary to the Adamawa State Government, Mr. Umar Bindir, explained that the Governor Muhammad Umaru Jibrilla administration noted with regret the happening in Numan and its environs as lives and property were lost in the crisis.

Bindir cautioned people to stop fuelling the crisis, alleging that some unscrupulous elements who meant no good for the people and society were turning it to be entho-religious crisis, insisting that the genesis was herdsmen/ farmers clash.

He said over 400 anti-riot

policemen and sizeable number of military personnel were drafted to the area to ensure the return of peace and harmony in the area.

Bindir pointed out that mostly the farmers’ lands have overlapped the demarcated cattle routes which is causing the unrest, saying herdsmen moving with their animals are like flowing water which must create its rightful path.

The spokesman of the state police command, Othman Abubakar, confirmed the attack on the two villages and killing of the village head of Dong in the yesterday’s attack but declined to give any causalty figure.

Meanwhile, unconfirmed report indicated that the village head of Lawuro was also killed by the attackers.

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COMMENT

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

GOING BACK TO THE BETTER FORGOTTEN DAYS Abuja, Nigeria’s capital city, is in need of attention, writes Atu Ikot

A

buja is gradually losing its allure. Unlike Washington, DC in the United States of America and Pretoria in South Africa which Abuja was fashioned after, the once serene and beautiful administrative city in the days of Nasir el-Rufai is now chasing Lagos in irregular commercial development and impunity.

In no distant time the city is likely to become one of the most unkempt and unruly in the world. The tell-tale signs are already very glaring. From the reckless traffic situation to the indiscriminate and sporadic erection of illegal structures all over the place, madness is gradually returning to the city; and slums are springing up even in the most sacred of places. It is just a matter of time and the city will explode in gargantuan decay; and when that happens, it will be difficult to bring back sanity.

Although there is a concentration of both development and security agencies in Abuja much more than anywhere else in the country, it seems from their ineffectual dispositions that they largely exist as welfare organs for people who collect salaries at the end of the month without any clear evidence of earning it. Motor parks are springing up anywhere you find movements of persons. Major roads within the city, particularly in the Garki and Wuse areas, have been taken over by commercial vehicle operators who do not give a hoot about other road users. Nobody seems to be checking this while it is still checkable.

The Abuja Municipal Council Development Control does not seem to mind all these infractions which, apart from the social and health implications, more than anything else pose grave security challenges for a very critical and fast growing city like Abuja.

The once beautiful city, well designed and executed by the founding fathers, is fast descending into a bedlam where motorists run haywire with absolute disdain for traffic signs, especially traffic lights. The horde of taxi drivers with all kinds of contraptions and the ubiquitous Keke NAPEP operators have no business with traffic laws; and they roam free without any form of reprimand.

Even in the high-brow Asokoro, Maitama and Jabi Districts, this madness has found a home without landlords. This is one city where motorcyclists no longer bother about registering their automobiles.

Motorcycles in Abuja do not have number plates and a good number of private vehicles ply public motorways with their number plates covered.

Number plates of many of the commercial vehicles have dropped off and they do not care. These vehicles are freely picking passengers and plying the roads in spite of the security implications.

Traffic signs in Abuja are routinely defaced with utter recklessness.

IN NO DISTANT TIME ABUJA IS LIKELY TO BECOME ONE OF THE MOST UNKEMPT AND UNRULY IN THE WORLD. THE TELL-TALE SIGNS ARE ALREADY VERY GLARING. FROM THE RECKLESS TRAFFIC SITUATION TO THE INDISCRIMINATE AND SPORADIC ERECTION OF ILLEGAL STRUCTURES ALL OVER THE PLACE, MADNESS IS GRADUALLY RETURNING TO THE CITY; AND SLUMS ARE SPRINGING UP EVEN IN THE MOST SACRED OF PLACES

Advertisement bills and public notices are pasted on signposts that are supposed to assist and direct motorists. Coupled with the recklessness and lack of traffic control in the city, accidents have become common place. It has become a nightmare driving on Abuja roads, even in the Central Business District. Garki, especially Area 1, is a mad house.

Reckless driving, illegal and irregular structures, massive roadside trading, itinerant hawking, touting, impunity and related vices have found a permanent abode there.

Government spent huge sums of money to erect traffic lights in most parts of the city but motorists obey the lights only in areas where there is a complimentary presence of either traffic wardens or mobile policemen. Commercial drivers now create loading points wherever it suits them, including on top of overhead bridges. These operators who are only interested in picking passengers wherever they are found care less about the obstructions caused to the flow of traffic as they, in some areas, occupy more than two of a three lane road. And nothing happens. Even the area around the Police Force Headquarters is not spared this madness. And no one seems to really care!

The level of insecurity in the city has in recent times challenged Lagos; and the reason is not far-fetched. The large number of uncompleted buildings and abandoned structures strewn all over the city provide ready accommodation and hideouts for criminal elements.

All manner of persons take up residence in the uncompleted public and private structures in the Central Business District, an area usually deserted after official work hours, thus making the zone a very dangerous stretch to be in the wee hours of the day. Same with the high profile areas of Asokoro, Maitama, Gusape, and in particular Katampe, part of which has been turned into a sprawling slum right in the middle of the Federal Capital Territory. All over, erectors of illegal structures battle the Development Control Agency for supremacy. And all these happen within the Abuja Municipal Area Council.

It takes more than a passing effort to build great cities. Discipline is the bedrock of great cities. Tepid attempt at developing a city seldom yields appreciable results. Rebuilding a city is usually at a greater cost than maintaining it. Anyone in doubt should ask the Lagos State Government. Abuja was well conceived, well designed and well constructed. The city which was salvaged from complete degeneration in the hands of a rampaging Jerry Boy (Jeremiah Useni) by Nasir el-Rufai, is fast returning to the better forgotten days when impunity and madness walked the streets unmolested. The time to rescue it is now!

Ikot wrote from Abuja

AFRICA NEEDS INDUSTRIALISATION, NOT ENTREPRENEURS Francis E. Ogbimi argues that rapid economic growth and industrialisation are the solutions to mass unemployment and poverty

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he passage, Ecclesiastes 1: 9-11, 18: said, ‘What has happened before will happen again. What has been done before will be done again. There is nothing new in the world. Look, they say, here is something new! But no, it has all happened before, long before we were born.

No one remembers what has happened in the past, and no one in days to come will remember what happens between now and then. The wiser you are, the more worries you have; the more you know, the more it hurts.

Europe had agricultural economies and experienced mass unemployment, low productivity, prevalent poverty, diseases and other unhappy situations for centuries. The inappropriate solutions proposed by governments and leaders then are the same being proposed by African governments and leaders, regional and world bodies for the same problems in Africa today.

All through the 1500s, English farm families were dispossessed and forced to look after themselves as best as they could. The proportion of England’s population that was destitute rose dramatically. By the end of the 16th century, many thousands of common people were forced into begging, stealing and prostitution (Defleur, et al., 1977). A common belief in an agrarian economy, is that the real solution to unemployment and poverty, is to provide land for able people to farm and make a living themselves. This thinking probably influenced the actions taken by individuals and government concerning England poverty and unemployment problems during the early 1600s (Defleur, et al. , 1977). It was during the early 1600s that charters were first issued for establishing colonies in the New World – the Americas. Such ventures were probably perceived as solutions to the problems of the English poor, but they were not. The healthy and able-bodied poor could be sent to the colonies where people were in short supply and there was uncultivated land. That was the beginning of how the English poor (area boys?) were exported to America (Defleur, et al., 1977). Sufferings and

poverty continued in Britain for many more centuries. The general grievance, civil wars and military rule in England during the period 1640-1688 had a lot to do with unemployment.

Thus, entrepreneurship and self-employment in agriculture did not solve the problem of unemployment in agrarian Britain. The British experience was typical of European nations. Britain did not establish a public educational system till after it had achieved Industrial Revolution (IR) and fought the two World Wars (Dent, 1975). Britain only had apprenticeship scheme. That is, though European nations did not have formal educational systems, they experienced mass unemployment for many centuries. European nations’ experiences suggest that it is not inappropriate educational systems that produce mass unemployment.

Britain achieved the first modern IR in the period 1770-1850 (Gregg, 1971). When Britain achieved the IR, adult male and females in the nation were not enough to fill available job openings. Consequently, employers of labour had to resort to employing children to work for many hours in the day. This is the basis of the scandalous child-labour in Britain during the early times of the European industrialisation. History, therefore, demonstrates that rapid economic growth and industrialisation are the solutions to mass unemployment and poverty.

The American experience was not quite different from the European one. Virginia, the first colony set-up in the New World by British businessmen and the crown was in 1606 (Baldwin, 1969). By the 1770s, 13 colonies had been set-up. The colonies revolted against the crown in 1775 and fought the War of Independence in the period 1775-1783.

Assisted by many other European nations, the colonies won the war and the United States was born. The destitute of colonial America was faced by a system of relief that was similar to the one in Britain under the English poor law. The American War of Independence subjected the Americans to severe hardship. During the early 1800s, America was a village-nation; over 90 per cent of America was made up of villages which had no contact

with each other; the mother, father and children worked to provide food, shelter and clothing (Bartlett, et al., 1969). America achieved IR during the period 1850-1900. Western and Eastern nations toiled for 2000 years and longer before achieving the modern IR. The United States was a special case. The Americans transformed a wilderness into a World Power in about 300 years. There is a lot to learn from the experiences of other nations.

Growing economies demand employment of all categories; stagnating economies experience mass unemployment (Lewis, 1972). Employment (in quantity and quality) is the engine that drives the economy; employment is the blood of the economy (Ogbimi, 1995). The levels of entrepreneurship and self-employment are inversely related to national productivity. That is, the higher are the levels of entrepreneurship and self-employment (especially in agriculture), the lower is the national productivity of a nation. Entrepreneurship and self-employment are atomised production. They prevent a nation from enjoying the economies of scale, otherwise linkage effects. They are survivalist activities in nations operating below the poverty line. Entrepreneurship and self-employment do not create enough wealth to raise a nation above the poverty line. Nations with many people in entrepreneurship and self-employment are invariably poor nations.

Americans displayed fully the versatility of an educated people. The New England States and Pennsylvania were the first to establish public school systems to educate all young people.

Following the discipline of the mind by education, the young American began to acquire one type of skill after the other, never contented with any single type and always learning. It was also in the states where sound and systematic education and training for acquisition of skills had been practiced longest and where knowledge, skills and competences were most developed that the greatest manufacturing occurred first.

The USA fought a civil war 1861-1865. At the end of the 19th century, Americans looked back at

the 35 years after the civil war with amazement.

The entire nation seemed to have been transformed in their life time. All around them were huge new cities, large population, a bewildering array of new machinery, a vast railroad network and thousands of new factories, mills and mechanised farms.

In just about 300 years, from 1606 when the first colony was established in the New World till 1910 when it was clear that the USA had achieved the modern industrial revolution, the nation achieved more than European and Asian nations achieved in 2000-3000 years. European and Asian nations neglected education and training for that long.

Mao Zedung, is the father of modern China.

In 1949, the Chinese economy was in chaos. The Russians on whom the Chinese had depended for a long time had quarrelled with them and they had stripped Manchuria, the most built-up city of everything. The transport system was in ruins and the currency worthless. The Chinese used the resource they have in abundance, people. ‘Let the people walk on two legs,’ said Mao Zedung, the Chinese leader, ‘let the native skills and local materials supplement modern technology’ (Stokes and Stokes, 1975). Mao probably meant to link more directly learning activities in educational institutions and working/learning in artisans’ and craftsmen’s work settings in the economy outside the campuses of educational institutions.

Everyone in China (then divided into communes) worked together. The Great Leap, 1958-1961 was also based on the principle of the educated and the traditional people working together. That was how the Chinese having drifted during the period 1000 B. C.-1949, 2949 years, commenced accelerated scientific growth and industrialisation to become the fastest industrialising nation in the world.

Lee Kuan Yew is the founder of modern Singapore. He became Prime Minister at the age of 35. He was a lawyer. He did not transform Singapore because he merely stayed long in office or because he was a lawyer.

Prof. Ogbimi wrote from Obafemi Awolowo University, Ile-Ife

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EDITORIAL GROWING RATE OF SUICIDES IN NIGERIA The prevailing economic condition is contributory to the string of suicides

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he recent death of a lecturer with the Kwara State University and a 300 Level student of the Abubakar Tafawa Balewa University, Bauchi through suicide has again brought to national limelight the rate at which many Nigerians are now taking their own lives. From jumping into the lagoon to hanging self with rope or drinking poison, reports on suicide have moved from an occasional blip to a very disturbing trend in our country. Also worrying is that it is not restricted to any demographic group as both the young and the old are killing themselves.

According to some recent World Health Organisation (WHO) Suicide Ranking, with 15.1 suicides per 100,000 population in a year, Nigeria is now the 30th most suicide-prone (out of 183 nations) in the world and the 10th in Africa. While that should worry the authorities and critical stakeholders, there are many theories as to why these Nigerians take their own lives and they are traceable mostly to the enormous emotional and ďŹ nancial stress as well as pervading poverty and hopelessPUBLIC OFFICIALS AT ALL ness everywhere.

LEVELS SHOULD BY WAY In Nigeria today, OF GOOD GOVERNANCE the plight of the PAY SERIOUS ATTENTION under-privileged is TO THE SOCIO-ECONOMIC steadily worsening and many go to CONSTRAINTS THAT bed with less than COULD TRIGGER IN THE a survival diet. The PEOPLE THE URGE TO unemployment crisis TAKE THEIR OWN LIVES has created a lost generation of graduates who cannot ďŹ nd jobs. Yet it is an established fact that impoverished individuals are a major risk group for depression. And depression, according to experts, is the most common reason why people commit suicide.

Medical practitioners under the aegis of the Society of Family Physicians of Nigeria, (SOFPON) have been raising concerns about the growing number of Nigerians living with depression. According to a SOFPON ofďŹ cial, Dr. Blessing Chukwukwelu, in Nigeria, “only

Letters to the Editor

one-ďŹ fth of those with a depressive episode receive any treatment, and only one in 50 receives treatment that is minimally adequate.â€? She recommends that medical practitioners who see various cases of ailment at the Primary Health Centres should be trained on how to identify the symptoms of depression. “The primary care is the sector that affects the health of the nation; so, preventing a condition at this level will not let it progress to the secondary level. When a physician takes a good history, he is able to diagnose the disorder; family physicians have the tools to tackle and also refer to the psychiatrist when he needs to,â€? she noted.

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

OPEN LETTER TO KADUNA STATE HOUSE OF ASSEMBLY

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hile the authorities must begin to deal with this problem, there are also other reasons why people take their own lives and devastate members of their family and friends with shock. For instance, underlying mental disorders such as schizophrenia, excessive alcoholism, drug abusive play signiďŹ cant role in triggering suicidal thoughts. Schizophrenia is a disease with a wide range of weird symptoms like hallucinations, inner voices, disordered thinking and irrational fears and “emotions that seem out of tune with realityâ€?.

Today, the use of hard drugs--particularly Indian hemp, cocaine and even methamphetamine are commonplace in the society - drugs whose adverse effects range from depression to suicide. Indeed, drug abuse has become very prevalent across the country today and it is a social problem in many of the northern states. But it would appear that neither the society nor the critical agencies of government are paying attention to this malaise.

However, given the socio-economic situation in the country, it is also obvious that many citizens are reaching their breaking points with the conclusion that they are better off dead. It is such situation of hopelessness that may account for the growing rise of suicide. Therefore, public ofďŹ cials at all levels should also by way of good governance pay serious attention to the socio-economic constraints that could trigger in the people the urge to take their own lives.

write to draw the attention of Alhaji Aminu Shagali, Speaker, Kaduna State House of Assembly, to the ongoing massive sacking of civil servants by the executive governor of Kaduna state, Malam Nasir El-Rufai.

Mr speaker sir, you are aware in the last two years of this administration, the state civil servants have been subjected to all manner of hardship by repeated screening carried out by the state government. While nobody can deny the fact that considerable success had been recorded in the exercise through the flushing out of ghosts workers, the ongoing sacking of workers in the state came to us as rude shock. Governor El-Rufai has admitted during a town hall meeting that the state government has been able to save N500 million monthly through the screening, money that would have gone to ghosts workers. At the same forum, the governor told the audience that the state’s internally generated revenue has improved dramatically. This is to attest the state financial viability.

The recent termination and compulsory retirement of 4,042 local government staff for what the state governor called redundant workers is untimely. It has come at a wrong time considering that the economy is in bad shape, despite reports that we are out of recession. Sir, if you can recall, the governor has never promised to sack any worker.

With this dramatic turn of event, those who unanimously voted the governor in 2015 general election have started

losing confidence in him. The governor must have weighed his policy before he went ahead to implement it. Sir, the members of the state house of assembly are representative of the people of the state and need to act fast to tame the excesses of the governor.

The implications of the massive sacking in the state are many and can be summarised as follows: One, the insecurity pervading the state may likely shoot up due to the thousands of sacked workers who would flood the already saturated labour market. Two, many sacked civil servant cannot be able to feed their families because they are being thrown out from work. There are no ready alternatives. Three, there may be frustration and premature deaths among the workers due to health- related problems.

Looking at the above implications, the state house of assembly under your leadership should hurriedly come to the aid of the affected workers who are the victims of injustice. The staff are not redundant as the governor wants us to believe.

They want to work but the system is very defective. The governor should have channelled his energy and time to reform the local governments, release adequate funds to them to carry out development projects instead of driving out thousands of workers from their jobs in the name of reform.

Ibrahim Mustapha, Pambegua, Kaduna State

IS BUHARI SECRETLY ENRICHING MUSLIMS?

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his is one question people now love to ask because the federal government’s foreign exchange (FOREX) policy. The ease with which one can access pre-eminent currencies is skewed in favour of those who have indicated interest to do the Islamic pilgrimage; until recently we all assumed that Muslims travel to Saudi Arabia only once in a year to do their hajj rituals but we have just realised there is a time-non-specific pilgrimage package called “umrah� or “lesser hajj� that ensures that Muslims can travel at any time to Saudi Arabia to “pray and seek blessings.� It is these category of Muslims and the troops who perform the annual rites that the federal government has pampered so much; so much so that the Emir of Kano, Sanusi Lamido Sanusi, remarked he could “make billions� by just sitting in his arid garden at Kano and placing calls and doing FOREX trading. Thus, now, the Muslim class of Nigeria gets surreptitiously enriched on account of their being “pure, superior believers.� In the midst of this skewed policy, it is still sad to see those army of Muslim beggars who are veritable professionals in the art of knocking few kobos from the general public whilst dishing “good luck� in return.

Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna

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05.12.2017

WEEKLY PULL-OUT

LIBYAN SLAVE TRADE, AFRICA’S SHAME

‘Kunta K Kinte’ from Novel, Roots, the Nov Gambian en enslaved in 18th Century the 18t

2/DASHBOARD

05.12.2017

Yardstick for Determination of Fair Hearing and Likelihood of Bias PAGE 4

Lagos Judiciary Trains Members of Staff to Achieve Efficient, Effective Administration of Justice PAGE 5

Lawyer Unveils Book to Address Increasing Rate of Failing and Killings in Marriage PAGE 5

Gaillard: Nigeria Needs Good Arbitration Law, Judges QUOTABLES

PAGE 6 ‘....Concerning the ladies who died in the very unfortunate incident, while obviously trying to migrate.

Obviously, the President is very concerned....Of course, there are long term issues here....ensuring that all the economic conditions are right for people.....But, I think in the short term, we must make sure that people do not endanger themselves, in the way some of the young men and women have endangered themselves.’

– Professor Yemi Osinbajo, SAN, Vice President, Federal Republic of Nigeria

‘We are giving joy to the enemies of the fight against corruption, the Looters. When a Looter like Maina, is now a Whistleblower. If he has been a Looter, and he is now a Whistleblower for whatever reason, if it is in the interest of the country, I will embrace it, but of course, he will still get his punishment.... I consider him a Looter turned Whistleblower, possibly.’

– rse, he will still get his punishment.... I consider him a Looter turned Whistleblower, possibly.’ - Professor Femi Odekunle, Criminologist, Member, Presidential Advisory Committee Against Corruption

‘A Lawyer Must be Innovative in Practice’ PAGE 6

Where Liquidation is Preferable to MSMES & Economic Benefits from Successful Liquidations PAGE 11

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

Moving Past Worn Rhetoric: Why CJN Needs to Declare ‘State of Emergency’ in the Judiciary PAGE 14

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

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Judgement Debt, Arbitrariness and the Law

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Judgement Debtors ecently, my colleagues in the office were complaining about how dissatisfied they are, with the way and manner that judgements are enforced in Nigeria.

Though the process is covered by the Sheriffs and Civil Process Act 1990 (SCPA), it seems that there are several gaps that need to be filled.

I guess that, the easiest thing to do is to pay the judgement debt, that is, if the Defendant believes that the judgement delivered against him/her is fair. But in this our ‘shant gree’ society, where even if the judgement is fair, the Defendants knowing that they have incurred the debts, still believe that they can behave with ‘impunity’ (the most commonly used word in Nigeria these days!), and seek to avoid repaying the judgement debts, the judgement is never fair and must be appealed against.

Recently, I had a matter in Court, which had gone on for many years. The day we adopted our written addresses so that the matter would be set down for judgement, one of the Defendants’ Counsel shamelessly made a feeble attempt to scuttle the proceedings, by claiming that his client had never been served with court processes, when in fact, his client’s statement of defence etc were happily in the court’s file! It was a claim for a liquidated money demand, to which the Defendants really had no defence. Judgement was delivered in my client’s favour and of course, the Defendants have filed their motion for stay of execution and notice of appeal. Anything to waste everybody’s time and delay justice! Having giving them enough time to pay up, I shall enforce the judgement against them. One of the issues that arises is, how do you determine what is ‘enough time to pay up’? Is it the day judgement is delivered, the next day, the next week or when? The law seems to be silent on this aspect.

Payment into Court and Installmental Payment However, if you choose to appeal against a judgement delivered against you in a particular sum of money, you could pay the judgement debt into the court (to show good faith!), while you file your motion for stay of execution of the judgement and notice of appeal. It is usually somewhat of an uphill task, to retrieve the money from the court when it is time to withdraw it; reconciliation and over-reconciliation of figures, going back to analyse the judgement etc, may be necessary.

An alternative, is to enter into an installmental payment plan with the judgement creditor. This does not prevent you from filing your motion for a stay of execution and notice of appeal.

Stay of Execution We all know that filing a notice of appeal or a motion for stay of execution, do not serve as a stay of execution. The stay of execution, must be sought and obtained.

And these days, judgement creditors do not play around. Having spent several years on litigation, they want to enjoy the fruit of the judgement as soon as possible.

If the Judge at first instance refuses the motion for stay of execution, then the next attempt is at the Appellate Court. Of course, we all know how long it takes to get anything going at the Court of appeal, so, judgement creditors just go ahead to enforce their judgements, as most judgement debtors fail to employ either of the above-mentioned post-judgement alternatives. Section 20(1) of the SCPA provides for the recovery of a judgement debt “in case of default or failure of payment thereof forthwith....” The judgement creditor applies to the Registrar who issues a writ of attachment and sale, which must include the sum of money and costs adjudged and the fees for the execution of the writ.

Complaint No.1 My colleagues’ first complaint is that, it is impossible to levy execution against the Police or any Government Agency.

If there is a court order to produce the Inspector General of Police, is it his staff that will compel him to attend court? Even though Section 15 of the SCPA makes it “the duty of every police officer to assist in the execution of process of the court”, in reality, getting a police officer to go and levy execution against his own constituency, is more difficult than finding a needle in a haystack! Ditto for Government Agencies.

So monetary judgements delivered against these institutions, are more or less, useless, as they cannot be enforced or rather, are somewhat unenforceable. I ran into a High Court Judge at a funeral sometime ago, and I complained about to him about the Police and extra-judicial killings, and how the Police seems to get away with these atrocities, without paying damages. He responded that there were indeed, many awards of damages against the Police, but they are lying down idle, because the enforcement of the judgements against the Police was the problem.

Complaint No. 2 When a judgement creditor wishes to enforce judgement, the writ must be registered with the Police who provide the manpower for the exercise. Of course, there are exorbitant hidden costs involved, in order to mobilise the Police (and the Sheriffs etc).

Complaint No.3 However, when it comes to private citizens and institutions, it seems that Sheriffs, Bailiffs,

Police, are overzealous; they usually abuse the process and ‘over-enforce’ the judgements.

Sections 25-28 of the SCPA (not only is it outdated, even referring to items worth ten naira, when these days, you cannot purchase even a ‘Bic’ biro for ten naira), seem to give the Sheriffs extremely wide powers to seize practically anything from the judgement debtor, to satisfy the debt.

If judgement was delivered against me in the sum of N5 million, and the Sheriff and his gang come to my premises and find 3 S Class Mercedes Benz cars worth over N70 million each, the tendency these days, is for these officials to seize all the 3 cars worth over N200 million, to satisfy a N5 million debt. Why? That is like killing an ant with a sledge hammer! The values of such items are ascertainable. To do such, goes against all the rules of equity and justice, that we have been taught.

A few days ago, a lawyer friend of mine told me about a case he was handling, where the Sheriff had sold the judgement debtor’s land, satisfied the judgement debt, fees etc, and had failed to give the judgement debtor his balance. Is that not theft?

The other day, another friend of mine complained rather bitterly to me that the Sheriff came to execute a judgement against his company. His company shares the office premises with another company, a separate legal entity. In the process of executing the judgement, not only did the executors seize goods, vehicles and computers very much in excess of the judgement debt, they went ahead to try to attach the belongings of the other neighbour company. When the staff of the other company informed the ‘executors’ that they were a separate company just sharing the same premises, they were tear gassed by the executors, and had to be rushed to the hospital by onlookers!

Likewise, someone else complained about how several of his bank accounts which contained monies very much in excess of the judgement debt, were frozen. He was unable to do anything or pay his staff, because of the freeze order. Why didn’t the judgement creditor just freeze his accounts to the value of the judgement debt, instead of about five times the judgement debt?

The Chief Judge of Lagos State, Honourable Justice Opeyemi Oke, among other things, complained about illegal execution of judgements, at a training program for Lagos State Judiciary Staff recently. Something certainly needs to be done to curb these excesses.

Complaint No.4 Sales of the goods and chattels that have been attached, is provided for by Sections 29-31 of the SCPA. This is a topic for another day. Complaints are rife, on auctioning of seized goods to cronies, friends et al, at

ONIKEPO BRAITHWAITE

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

"MY COLLEAGUES’ FIRST COMPLAINT IS THAT, IT IS IMPOSSIBLE TO LEVY EXECUTION AGAINST THE POLICE OR ANY GOVERNMENT AGENCY. IF THERE IS A COURT ORDER TO PRODUCE THE INSPECTOR GENERAL OF POLICE, IS IT HIS STAFF THAT WILL COMPEL HIM TO ATTEND COURT?....IN REALITY, GETTING A POLICE OFFICER TO GO AND LEVY EXECUTION AGAINST HIS OWN CONSTITUENCY, IS MORE DIFFICULT THAN FINDING A NEEDLE IN A HAYSTACK

ridiculous undervalued amounts, to the detriment of the judgement debtor.

Complaint No.5 Section 54 of the SCPA provides that the levying of execution on immovable property of Muslims in the Northern States, should be guided by the principles of Islamic Law. It can as well be said that such execution, should also be done in accordance with Customary Law in the Southern States. Why should religion be brought into statute?

Suggestions My colleagues and I concluded that, in the interest of justice, a proper Enforcement of Judgement Unit attached to the Courts, should be established nationwide. This Unit should be manned and staffed by lawyers who are well versed in the law and well-trained in the process of enforcement of judgements and valuations of goods and property. The Enforcement Unit should have their own security force to back them up, instead of making use of the police. The law pertaining to the enforcement of judgements, must be reviewed and updated. Everything pertaining to enforcement of judgements, should be clearly defined in the law, starting from how long a judgement debtor has to liquidate his/her debt before the Sheriff moves in, to ascertaining proper values of items at the point of seizure, so that the executors do not ‘over-enforce’ judgements.

My dear colleagues, I will like to hear about your experiences in this area, and your views on this important issue. Thank you.

4/LAW REPORT

05.12.2017

Yardstick for Determination of Fair Hearing and Likelihood of Bias

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withdrawing the Plaintiff’s rank as a Senior Advocate of Nigeria. The Defendant posited that the Plaintiff was accorded fair hearing. They argued that the Chairman of the LPPC, was not a member of the Disciplinary Committee of the Defendant that conducted the proceedings leading to the decision in question, and that the Chief Justice of Nigeria only performed his judicial function in awarding costs of N9,000,000.00 (Nine Million Naira) against the Plaintiff.

Facts

y a letter dated 7th December, 2016, the Chief Registrar of the Court of Appeal, Abuja Division, lodged a Complaint against the Plaintiff to the Chairman of the Legal Practitioners’ Privileges Committee (LPPC) at the Supreme Court of Nigeria, seeking investigation and necessary action against the Plaintiff’s unethical behaviour to the Court of Appeal (contrary to the Rules of Professional Conduct, 2007). The Plaintiff was served with the Letter of Complaint on 20th February, 2017 and he replied thereto. The Honourable Chief Justice of Nigeria, who is the Chairman of the LPPC, minuted the letter of Complaint to the Secretary of the Committee to deal with. Further to this, a 3 man disciplinary panel was set up consisting of the Chief Judge of Ebonyi State – Honourable Justice Aloy Nwankwo (Chairman); The Chief Judge of Yobe State – Honourable Justice G.M. Nabaruma (Member); and Mr. Awa Kalu, SAN (Member).

The Plaintiff was invited to appear before the Committee which sat on 24th February, 2017 and 7th June, 2017. The Plaintiff appeared for himself at the proceedings, while the Defendant was represented by Counsel. After the sittings, parties filed and exchanged written addresses. Thereafter, the Committee submitted its reports, findings and decision to the Chairman of the LPPC; this was accepted and the Rank of Senior Advocate of Nigeria earlier conferred on the Plaintiff, was withdrawn. The letter of withdrawal of the rank, dated 23rd June, 2017 was signed by the Honourable Chief Justice of Nigeria as the Chairman of LPPC. By the Plaintiff’s deposition, the Defendant gave the withdrawal of his rank wide publicity, and this affected his source of livelihood and he was exposed to suffering and hardship. He stated that the withdrawal, which was publicised in the print and electronic media, caused him great financial loss of at least N5,000,000,000.00 (Five Billion Naira).

Consequent upon the foregoing, the Plaintiff instituted this action for the enforcement of Fundamental Rights. He sought inter alia, an Order pronouncing that his right to fair hearing as guaranteed by Section 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended); Article 7(1)(b) and (d) of the African Charter on Human and people’s Rights (Ratification Enforcement) Act; and Section 24(3) of the Guidelines for the Conferment of the Rank of Senior Advocates of Nigeria, 2016, had been contravened in the procedure adopted in withdrawing his rank as a Senior Advocate of Nigeria. He also sought an Order setting aside the decision of the Defendant and pronouncing as a nullity, the withdrawal of his rank as a Senior Advocate of Nigeria.

Issues for Determination The Court condensed the issues articulated by parties as follows: 1. Whether the Plaintiff’s Fundamental Right to fair hearing guaranteed under Section 36 of the 1999 Constitution (as amended), has been breached by the Defendant to entitle the Plaintiff to the reliefs sought.

2. Whether the Defendant was biased against the Plaintiff in the determination of the complaint against him, leading to the withdrawal of his rank as Senior Advocate of Nigeria.

Arguments The Plaintiff argued that, the Defendant did not observe the rule of fair hearing in the procedure adopted by the Committee in withdrawing his rank as a Senior Advocate of Nigeria, and this contravened his Fundamental Right as entrenched in the Constitution and other relevant laws/Rules.

The Plaintiff argued further that, the wide publicity given the decision of the Committee by publication in various national dailies and electronic media, affected his welfare and source of livelihood greatly, thereby exposing him to suffering and hardship. To this end, he submitted that he was entitled to an Order directing the defendant to pay him the sum of N5,000,000,000.00 (Five Billion Naira), for contravening his right to fair hearing. He prevailed on the Court to direct the Defendant to retract the Press Release dated 23rd June, 2017 signed and issued by the Chief Registrar of the Supreme Court of Nigeria Nigeria as Secretary of the LPPC, concerning the withdrawal of his rank and an Order directing the Defendant to tender a full and unqualified written apology to him in 7 (seven) named national dailies.

On the second issue, the Plaintiff alleged bias against him. He submitted that the Honourable Chief Justice of

O.A. Musa, J

In High Court of the Federal Capital Territory In the Abuja Judicial Division Holden at Bwari On Monday, the 9th Day of October, 2017 Before His Lordship Honourable Justice O.A. Musa Judge, High Court of the Federal Capital Territory, Abuja Suit No. FCT/HC/CV/2840/2017 Between B.E.I. Nwofor ........ Plaintiff And The Legal Practitioners’ Privileges Committee .......Defendant

Nigeria sat as the Chairman of the LPPC and considered the petition against him, having earlier formed an adverse opinion against him. He argued that, the Chairman having taken a decision against him by awarding the sum of N9,000,000.00 (Nine Million Naira), he was disqualified and his decision cannot stand.

For the Defendant, it was submitted that there was no contravention of the provisions of the Constitution and other relevant laws, in the proceedings leading to the decision

"THE YARDSTICK FOR DETERMINATION OF FAIR HEARING, IS NOT THE QUESTION WHETHER INJUSTICE HAS BEEN OCCASIONED ON A PARTY DUE TO WANT OF HEARING; RATHER, THE QUESTION IS WHETHER AN OPPORTUNITY OF HEARING WAS AFFORDED TO PARTIES ME ENTITLED TO BE HEARD...IT RATHER, LOOKS AT THE IMPRESSION WHICH WILL BE GIVEN TO THE OTHER PEOPLE. THE LIKELIHOOD OF BIAS, NEVERTHELESS, MUST BE REAL, NOT SURPRISE, CARICATURE OR A GAME OF CHANCE"

Court’s Judgement and Rationale On the first issue, the Court held that the Plaintiff has a Constitutional right to fair hearing, as guaranteed under Section 36 of the 1999 Constitution (as amended). The basic and fundamental principle of law, is that when a person’s legal rights and obligations are called into question, he should be afforded full opportunity to be heard, before any adverse decision is taken against him with respect to such right and obligation. In carrying out this duty, natural justice dictates that, an adjudicating authority should hear both sides and give them opportunity to present their cases. DEDUWA v OKORODUDU (1976) 9 – 10 SC 329.

The yardstick for determination of fair hearing, is not the question whether injustice has been occasioned on a party due to want of hearing; rather, the question is whether an opportunity of hearing was afforded to parties entitled to be heard. AWUSE v ODILI (2005) 16 NWLR (Pt. 952) 416. Determination of whether opportunity of hearing has been accorded a party, depends on the peculiar facts and circumstances usually seen in the record of proceedings in which complaint arises or was made.

In this case, the Plaintiff exhibited the records of proceedings of the Disciplinary Panel – Exhibit G and H. The Complaint of the Plaintiff was in writing – Exhibit – C and it was served on him for his response, before taking any further step. The Plaintiff responded vide Exhibit C1 which was addressed to the Secretary of the Defendant, written and signed by the Plaintiff. Exhibit E and F are the letters of invite/Hearing Notices sent to the Plaintiff to appear before the Disciplinary Committee to defend himself, and he appeared in person. Not only did the Plaintiff defend himself at the proceedings, he also called three witnesses who testified on his behalf. At the end of the hearing, he filed a written address – Exhibit O, and made a No Case Submission – Exhibit Q, in respect of the Defendant’s case against him. Going by the basic ingredient of fair hearing that a Court or Tribunal must hear both sides on the material issue and give equal opportunity, treatment and consideration to the parties, a careful perusal of the Exhibits annexed to the suit shows that the Committee complied with the basic requirements of fair hearing. Going by the facts and evidence before the Court, the Plaintiff was not tried for the offence of Contempt of Court by the Defendant as he alleged, and his submission on this issue has no relevance to the enforcement of his right in the present suit.

With regard to the second issue alleging bias against the Plaintiff, the Court relied on the case of WOMILOJU v ANIBIRE (2010) 10 NWLR (Pt. 1203) 545 at 566, where the Supreme Court, per Muhammad, JSC held that “the test for determining a real likelihood of bias is that the Court does not look at the mind of whoever sits in judicial capacity. It does not look to see if there was real likelihood that the Judge would or did in fact, favour one side at the expense of the other. It rather, looks at the impression which will be given to the other people. The likelihood of bias, nevertheless, must be real, not surprise, caricature or a game of chance.”

Given the fact of this case and the clear records before the Court, it is clear that the Honourable Chief Justice of Nigeria and Chairman of the Defendant, neither presided over nor acted as member of the Disciplinary Committee.

The costs awarded against the Plaintiff in the appeals presided by the Chief Justice of Nigeria was his decision in his judicial capacity, and the High Court lacks the power to either review or re-open it. It follows that the Plaintiff did not establish by credible evidence, that the Defendant was biased against him.

Claim Dismissed.

Representation: The Plaintiff appeared in person Noh Abdul Esq. with Emmanuel Onoja Esq. for the Respondent Reported by Optimum Publishers Limited (Publishers of the Nigerian Monthly Law Reports (NMLR))

05.12.2017

NEWS/5

MARITIME SEMINAR L-R: Mr. Adewale Jones, President MAAN, Hon. Justice E. O. Sanyaolu (Rtd), Mrs. Doyin Rhodes-Vivour, Pioneer President MAAN, Mr. Amos H. Kuje, Mrs. Oritsematosan Edodo- Emore, Dr. Omogbai Omo-Eboh, Mrs. Elizabeth Osoka, Mr. Bodunrin Adewole, Chief Gbola Akinola at the just concluded 8th Practical Maritime Dispute Resolution Seminar organised by the Maritime Arbitrators Association of Nigeria, held on the 22nd& 23rd of November, 2017

IBA AFRICAN FORUM CONFERENCE L-R: Hon.Justice Sophia Adinyira, Justice of the Supreme Court of Ghana, Olawale Fapohunda, Hon. Justice Sam Rugege, Chief Justice of Rwanda , Andrew Morgan QC at the session " Tackling Corruption Among Judges and Reducing Delay in the Resolution of Disputes” at the IBA African Forum Conference, Accra!

Lagos Judiciary Trains Members of Staff to Achieve Efficient, Effective Administration of Justice Stories by Akinwale Akintunde In a bid to achieve efficient and effective administration of justice in Lagos State Judiciary, the State Chief Judge, Justice Opeyemi Oke, flagged off a training programme for the non-judicial staff.

The training programme which is in batches for both the High Court and Magistrates Courts members of staff, commenced last Tuesday.

Declaring open in Lagos the workshop with the theme: “Towards an Efficient and Effective Administration of Justice System in Lagos State”, Justice Oke reinstated her commitment to fight corruption, which according to her, has given the Lagos Judiciary a bad name.

The Chief Judge used the opportunity to send a note of warning to Judiciary workers in the State, to shun corruption or face the full wrath of the law, adding that it is now a new dawn in the Lagos State Judiciary, as her administration will not tolerate vices of any form from any member of staff.

"Let me state emphatically, that it is now a new dawn in the Lagos State Judiciary, as this Administration will not tolerate such vices from any members of staff. This Administration will, by

the grace of God Almighty, have zero tolerance for corruption in whatever form", she said.

Justice Oke noted that, the Judiciary has lost the confidence of the public due to allegations of corruption in the system,and urged members of staff to turn a new leaf and join her in serving court users in an efficient way, so as to bring back confidence in the Judiciary.

"The essence of this workshop, again, is to promote a new ethical orientation into the consciousness of all staff. It has become necessary to do away with the old spirit of doing things, and for a new spirit which will give a positive image to the Lagos State Judiciary.

"We must imbibe a strong sense of integrity, a positive attitude to work, and we must hold ourselves accountable to the highest standard of performance.

"We must work for a transparent, efficient and timely judicial administration, that will restore hope, repose confidence, and inspire respect for the Judiciary, and make it indeed, the last hope of the ordinary citizens.

"We have to be truthful to ourselves, that we have lost the confidence of the public, primarily fuelled largely by allegations of corruption in the system.

"This goes beyond the issue of bribery among members of staff, but it extends to other administrative duties like orchestration of disappearance of case files, alteration of court orders by registrars of court, disappearance of Judge’s note or exhibits, illegal execution of Judgments, depriving the State Government of its revenue by failure to issue receipts for fees paid or issuing of fake receipts to mention a few”, she pointed out.

The Chief Judge, further noted that, other stakeholders like the local branches of Nigerian Bar Association and Judiciary Service Commission, are already working with her to ensure that corruption is uprooted from the Lagos Judiciary.

"I must not forget to mention that all the Hon. Judges of the Lagos State Judiciary, are with me in the fight to eradicate the decadence that has been part of the system for a few years back now, and so also the Members of the Bar. "This is the first time we are having the Executive Members of all the five branches, collaborating with the administration to fight the decadence.

"They are working on curbing corruption within the Bar, and formulating Rules that will

eradicate such when they come to transact their business in our offices.

"Apart from this, we also have individual groups offering to join me in my mission to build a new Lagos State Judiciary, free of negative vices", she noted.

Justice Oke warned that, henceforth, any member of staff found wanting in his/her duties, will face disciplinary action and will be shown the way out of the system.

Meanwhile, Justice Oke made good her promise to sanitise the Judiciary, as two members of staff of the State Judiciary and a National Youth Service Corp member, were arrested last Tuesday in the Litigation Registry of the Ikeja High Court for failing to issue receipts for payment made by court users.

A statement issued by the Chief Public Affairs Officer, Mrs. Ololade Ige, stated that those arrested are currently undergoing interrogation at Alausa, Ikeja.

According to the statement which did not disclose the names of the staff and the youth corp member, a tout who has been in the habit of impersonating as a staff of the Judiciary and defrauding court users, was also arrested.

Lawyer Unveils Book to Address Increasing Rate of Failing and Killings in Marriage A senior Nigerian lawyer, Pa Tunji Gomez, has written a book aimed at addressing the recent increase in marriage failures, which could also lead to one of the spouses killing the other.

Presenting the book “Guide to Happy Marriage” at a media briefing last Thursday, the author, Pa Gomez said the book was written out of his concern over alarming rate of marriage failures and domestic violence in marriages in the country.

The 89 year old Pa Gomez, said more worrisome, is the trend of one of the spouses killing the other in a failed marriage, which is now becoming fashionable among the youths.

He cited as examples the most recent of such killings, as that of Bilyamin Muhammed Bello, son of former PDP Chairman, Haliru Bello, whose wife was alleged to have stabbed him to death, and that of a female lawyer, Yewande Oyediran, who was accused of stabbing her husband to death in Ibadan, Oyo State.

The Octogenarian said from the two examples, it is expressively seen that failure of marriages does not necessarily have to do with poverty or riches, as many people believe.

He said that the book deals with the problems and likely problems, that married couples

Buhari, AGF, CBN Urged to Probe AMCON, Sterling Bank for Disobeying Court Judgement on Landed Property Grant Properties Limited, a property development company based in Lekki area of Lagos, has called on President Muhammadu Buhari, the Attorney General of the Federation, the Central Bank of Nigeria (CBN), the Senate President, the Speaker of the House of Representatives, and the Inspector General of Police, to probe the Asset Management Corporation of Nigeria (AMCON) and Sterling Bank, for refusing to obey a court judgement which ordered them to return its landed property illegally taken over by them.

Addressing journalists at the office of the Consumers Advocacy Foundation of

Nigeria (CAFON) in Lagos last Wednesday, the Managing Director of Grants Properties, Dr. Olawunmi Olajide-Awosedo, said his company had sued Sterling Bank to challenge the sale of 2.4 hectares of the 10 hectares to UAC Properties Development Company Plc (UPDC) in 2011.

Olajide-Awosedo said six years after, a Lagos High Court however, gave a judgement in his company’s favour, by nullifying the sale of the land.

He said Justice A. J. Bashua, in his judgement of June 2, 2017, held that the collateral was illegally sold by Sterling Bank, after it had assigned the company’s loan to AMCON.

The court also held that, the documents of the sale were signed by Yemi Adeola, Managing Director and Justina Lewa, Company Secretary of Sterling Bank, adding that they had acted alone, as the other banks were not part of the sale.

According to OlajideAwosedo, from the day of judgement till now, not only that the Bank had refused to obey the court judgement, but AMCON is less than disinterested in the matter and has been trying to arm-twist Grant Properties into abandoning the court judgement that nullified the sale of the collateral.

Olajide-Awosedo said his

company’s ordeal started in 2002 when after securing a 50-hectare land in Lekki, Lagos state, to build “Victory Park Estate”, he approached Sterling Bank for an N8 billion loan to partly fund the project.

According to him, Sterling Bank could not single handedly finance the project, so it brought in Unity Bank, Skye Bank and Wema Bank, and a consortium led by Sterling Bank was formed to give the loan to finance the project.

He said Grant Properties used a 50-hectare piece of land, as security for the loans.

He added that, the company also transferred the shares in its

subsidiary, Knight Rook Limited, to the banks as security for the loan, with the understanding that the banks would return the land and the shares once the loan was settled.

“After Grant Properties had secured the loan and started developing the property, it could not meet up with the repayment obligations. This also came at the time banks were experiencing liquidity problems, with many of them taken over by the Central Bank of Nigeria (CBN), which then set up AMCON to buy the bad debts.

“The Grant Properties loan,

CONTINUED ON PAGE 10

face, or are likely to face in their marriages.

“It deals with the causes or disharmony, discomfort, disappointment, and disillusion in a marriage. It deals with money problems in marriage. It pontificates how to deal with the question of domineering mother-in-laws. It provides solutions to the antics of a jealous wife, it provides answers to the problem of childless marriage. It deals with the flirting husband. It provides solution to the “Master and Servant” relationship in a marriage.

“It comments on the “gold digger” husband or wife in the marriage. It pontificates on methods to boost the love and affection in the marriage, the care and attention necessary to sustain the marriage, and the devotion and trust necessary to support the marriage in difficult times.

“If you have a marriage problem (and who hasn’t), this book will help you solve the problem”, he said.

According to Pa Gomez, apart from the book, he has also set up a Marriage Consultancy Unit in his chambers, where people can visit for counselling.

He commended the Lagos State Government, for its activities towards addressing domestic violence and urged it to do more.

Present at the media presentation of the book, were former Chairman of the Lagos Branch of the Nigerian Bar Association, Mr. Foluso Fayokun, who wrote the Foreword of the book, Chief Andrew Eboh Otokhina and Chief Chuks Ikeogwu.

Commending the author and commenting on the book, Fayokun said “Mr. T Gomez is a Barrister-at-law, who has been practicing for over 45 years. Early in his practice he handled many divorce cases.

He has drawn from his long experience in divorce cases, and also from the replies to questionnaires he sent out to so many married couples on this subject of Marriage.

“He has put years of research into this book. It is a must read, in order to save the ship of the Marriage from hitting the rocks”.

6/

05.12.2017

Gaillard: Nigeria Needs Good Arbitration Law, Judges

Akinwale Akintunde

A Professor of Law in France and Head of International Arbitration, Shearman & Sterling LLP, Emmannuel Gaillard, has said Arbitration would work better in an environment where there are good Laws and Judges for it.

Gaillard, who was a Guest Speaker at an Arbitration Seminar organised by Lagos Court of Arbitration in collaboration with Shearman & Sterling LLP held last Wednesday, disclosed that one idea would be for Nigeria to centralise the jurisdiction of certain courts, to have competent jurisdiction on Arbitration, so that the Judges get exposure to Arbitration.

The seminar with the theme: "International Arbitration in Nigeria: Current Practice under the New York Convention", took place at Lagos Court of Arbitration in Lekki.

Gaillard, who is currently a Visiting Professor at Yale Law School and has acted as counsel in over 300 International Arbitrations, said the country Law is good, but there few issues which could be improved on.

"As I said at the conference, here you have a wonderful centre, it is really good that the State has invested. We need a good law, a good Judge for Arbitration. The law is good, as the conference shows, we have a few issues which could be improved.

"One idea would be for us to centralise the jurisdiction of certain courts, to have competent jurisdiction on Arbitration, so that the Judges get exposure to arbitration and can develop a case law and not read them the way it stands, which is the case where we don’t have this rule, which simplifies the method of the parties.

"There are few things, which can be improved and then is a matter for the judges to support arbitration and then there are certain cases which favourable to arbitration and other cases, which are less favourable

L-R: Mrs Vivienne Edozie, Executive Secretary, LCA; Ms Maude Lebois, Partner, International Arbitration, Shearman & Sterling LLP and Professor E. Gaillard, Head, International Arbitration, Shearman & Sterling LLP during the LCA/ Shearman & Sterling International Arbitration in Nigeria Conference in Lagos

to arbitration.

"So if the judges would realize that it is an important economic activity which needs to be supported and frankly it is a legitimate way to solve dispute. But it is not a competition between the courts and arbitrators it is more like two worlds to adjudicate, the vision that it would be a competition between the court and arbitration is our duty. So you know the court now in many countries supports arbitration frankly prefers arbitration, if it can resolve their disputes before arbitrators, they don’t come to the court. The courts are here to supervise the process preferable at the end of the process not at the beginning.

"If you have an arbitration here, the arbitration act will be relevant, the rest of the law

of Nigeria are not been relevant. If the parties can choose which law to apply, French law, Chinese law, the arbitrators sitting decide who apply the law of whatever country the parties have chosen.

"The only relevance piece of legislation is the legislation on arbitration and is the part, which really needs to treat in a way appealing. So it funny because you write the law, the public, which is foreigners, normally you write law for your citizens, companies that is the progress of the law. This is a law, which is meant to be appealing to foreigners so that they can become arbitrate", he said.

Gaillard who presented a paper on "The New York Convention: An international perspective" said the New York Convention

does need amendment because it has sufficient flexibility to be a pride in different countries.

"I don’t think the New York convention needs amendment because it has sufficient flexibility to be a pride in different countries so I don’t think it needs a revision.

"I think that there is room for improvement in terms of training, in terms of educating and in particular the UNCITRAL has started the theories for training of judges in different countries. To me, the question is not that application of the existing instrument, which is the New York Convention than revising the New York convention.

"When you look at the case law, which is on the basis of the New York convention, it is surprisingly homogenous so I think there is a little margin for improvement, which is more of a matter of supplying properly the convention than reviving the convention", he explained.

The Law Professor added that there are lot of Africa parties involved in arbitration and a lot of that goes outside of Africa and is not handle in Africa and that should change.

According to him, for that to change, Nigeria must be serious and ensure that there is a twist to the law to make it more arbitration friendly.

"There are a lot of Africa parties involve in arbitration and a lot of that goes outside of Africa and is not handle in Africa and that should change.

"To change that, if this country is serious about that, there would be a twist to the law to make it more arbitration friendly, not just the reality of the arbitration friendly but the appearance of the arbitration friendly present.

"The law is to be sold outside the country, if you want to track arbitration between Chinese company and Cameron company or the state of Cameron and we say we want to arbitrate CONTINUED ON PAGE 12

Legal Personality of the Week Abdulrasheed Ibrahim

‘A Lawyer Must be Innovative in Practice’ composition of the Executive Committee at that time. But, after much thought, I threw in the towel and decided to sleep on my rights by not going to court.

I am Abdulrasheed Ibrahim, a 1999 graduate of Usman Dan Fodiyo University, Sokoto where I read both Common and Islamic Laws. I belong to the first set of the decentralised Law School, and was called to the Bar in 2002. Since my call to the Bar, I have been in private practice which I combine with writing and publishing. I got my LLM degree from Obafemi Awolwo University, Ile Ife in 2010. Between 2013 and 2015, I served the Bar as the Publicity Secretary of NBA Lagos Branch. My practice of law has taken me to the different parts of the country, appearing in various courts.

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

Challenges in any chosen career, are very usual. One of the challenges I had, was when I was a new wig (new entrant into the profession) looking for a well established law firm to work with. The irony of the society we live in, is that is the firms that are employing may not necessarily be looking at the value you (the new entrant) can add to the firms, but what some of them are looking at is, what is the background of the gentleman asking to work with them? Is he from a well to do family from which the firm can benefit from in return? In some cases, what gets a new entrant employed in some firms is not how knowledgeable in law the applicant is, but how influential or connected the person recommending him to the firm is? I once applied to an established law firm to work with as a counsel, but I later learnt that the fact that I was not born with the proverbial silver spoon in my mouth, was the factor that worked against me. The question I later asked myself was that, was it a crime not to be born with silver spoon in one’s mouth? This

Abdulrasheed Ibrahim

attitude still persists till date. There is the need for change of attitude among the employers of labour, particularly in the legal profession.

Even recently, I had a similar experience when I presented two Law Books to the public, but this is a story for another day.

What was your worst day as a Lawyer?

I think my worst day as a Lawyer was sometime in 2005 when I applied to contest for the position of Assistant Publicity Secretary in the NBA Lagos Branch, but was eventually told by the then Electoral Committee that the position was unknown to the Bye law of the Association, contrary to the letter and spirit of the said Bye law. I was tempted to go to Court to file Originating Application, seeking for the interpretation of all the sections relating to the

What was your most memorable experience as a Lawyer?

My most memorable experience was the day I saved a Nursing Mother charged for the murder of her husband, from being sent to gallows. In the nutshell, it so happened that the said husband and wife were usually at each other’s throats. In their last scuffle, they were both armed with dangerous weapons, and at that time, the wife was pregnant. Unfortunately for both of them, the devil intervened and the wife stabbed the husband to death. The wife was arrested; she made a confessional statement, and was eventually put in prison custody. While she was awaiting trial, she delivered a baby boy. Her in-laws named the baby after the deceased husband, and said they were no longer interested in the trial of the wife. As counsel to the Defendant, we wrote to the Attorney-General of the State asking him to drop the charge against the Defendant, as those concerned had said they were no longer interested in the matter. Our letter was ignored. When the lawyers from the Ministry of Justice came, we informed the Judge about the letter we wrote to them, which we also copied the Court. The Judge insisted that the Attorney-General must respond to the letter. They later came back and insisted that they were not withdrawing the charge, that they were ready for trial, and the matter was adjourned for definite trial. On the trial date, when the matter was called upon for trial, the atmosphere in court that day was very emotional. With the Defendant entering the dock, the baby having been taken from her, and none of the prosecution witnesses was

in court, I moved the court to strike out the case against the Defendant which application was instantly granted by the court. So that was how the Nursing Mother was saved from being sent to gallows.

Who has been most influential in your life?

My Parents, particularly my Mother, who did everything to make my study of law a reality.

My Mother, though not literate, understands the value of being educated.

Why did you become a Lawyer?

I became a Lawyer, to champion and promote the cause of justice. To share the knowledge of law, and add value to the profession. The aim is also to assist the less privileged, to best of my ability.

What would be your advice to anyone wanting a career in Law? My advice to the aspirant is that, on getting into the profession, he/she should believe in themselves, be patient, as well as be innovative.

Rather than following the crowd, he/ she should think positively of what can be done differently to add value to the profession.

If you had not become a Lawyer, what career would you have chosen?

I would have chosen to be a Journalist. As a student of History and Literature, I derive great pleasure and inspiration from books written by many great writers. I have found it difficult to do away with the art of reading and writing.

Where do you see yourself in ten years?

Where my Creator wants me to be, as my prayers, my living and sacrifice is for my Creator, the Almighty God of the Universe.

05.12.2017

/7

INSIGHT ABUBAKAR D. SANI

xL4sure@yahoo.com

Ikoyi Whistleblower’s Suit: Jurisdiction and Other Issues

T Introduction

he suit reportedly filed at the Federal High Court, by a so-called Whistleblower to compel the Federal Government to make good on its promise to reward anyone who exposes ill-gotten wealth, is an opportunity to test not only the sincerity of that policy, but indeed the entire legal framework (if any), for its enforcement. Is the Federal High Court the proper venue to litigate the claim?

Does the mere fact that three agencies of the Federal Government – the EFCC, the Attorney-General of the Federation, and the Minister of Finance – are parties to the action, automatically confer jurisdiction on that Court? What is the nature of the relationship between the Whistleblower and the Federal Government in the context of the claim? If it is a contract or even a quasi- contract, does that court have jurisdiction to enforce such claims?

The issues are examined below.

Jurisdiction Generally It is well-known to lawyers that, jurisdiction denotes the power of a court to determine issues that are presented in a formal way, for its decision. It is concerned with the limits imposed on the powers of a validly constituted court, to determine issues between parties who seek to avail themselves of its process by reference to the subject-matter of the issues or to the persons between whom the issues are founded, or the kind of relief they seek: See GOLDMARK NIG. LTD. v IBAFON CO. LTD. (2012) 3 S.C. pt III pg. 72. Before a court can be said to be competent or to possess jurisdiction over a cause or matter, the following conditions must co-exist: i. It must be properly constituted as regards the members of the court and their qualification; ii. The subject-matter of the action must be one which the court is competent to adjudicate upon; iii. The action must be initiated by due process of law; and iv. Any condition precedent to the exercise of its jurisdiction, must have been fulfilled: See NATIONAL UNION OF ROAD TRANSPORT WORKERS v ROAD TRANSPORT EMPLOYERS ASSOCIATION OF NIGERIA (2012) 1 S.C. pt. II pg 119. The jurisdiction of a court is conferred by the Constitution or statute which created the court: EGHAREVBA v ERIBO (2010) 3 – 5 S.C.

Osborne Towers Ikoyi where the Dollars were found

pt III pg 93. The nature of the plaintiff’s claim (or the defendant’s counter- claim) determines the court’s jurisdiction: ONUEKWUSI v REG. TRUSTEES OF THE CHRIST METHODIST ZION CHURCH (2011) 2 – 3 S.C. pt. 1, pg. 1.

Jurisdiction of the Federal High Court Sections 7 of the Federal High Court Act and 251(1) of the 1999 Constitution, respectively, define and delineate the civil jurisdiction of the Federal High Court. It is a court of limited jurisdiction. This means that anything that is outside the subject-matter of the above statutory provisions, is ultra vires the Federal High Court. Indeed, it can be said that to the extent that Section 251 of the Constitution has extensively spelt out the jurisdiction of the court as aforesaid, it supersedes the said provisions of Section 7 of the Federal High Court Act; this is because of the supremacy of the Constitution and the doctrine of covering the field.

See ISHOLA v AJIBOYE (1994) 6 NWLR pt. 352 pg. 506 @ 573D. Be that as it may, it is now apposite to examine the reliefs of the self- acclaimed Whistleblower, to see if he has approached the wrong court. He reportedly claims several somewhat duplicitous declarations, including one that he, along with three

"BEYOND THE PENDING LITIGATION HOWEVER, EVEN THOUGH THE GOVERNMENT, THROUGH THE HONOURABLE MINISTER OF FINANCE, IS REPORTED TO HAVE RESTATED ITS COMMITMENT TO MAKING GOOD ON ITS PROMISE IN THIS AND SIMILAR CASES, IT IS IMPERATIVE THAT THE NATIONAL ASSEMBLY COMES UP WITH A WORKABLE AND TRANSPARENT LEGAL FRAMEWORK, NOT ONLY FOR REWARDING PRESUMED CLAIMANTS OF WHISTLEBLOWING ‘LARGESSE’, BUT ALSO TO INCENTIVISE POTENTIAL WHISTLEBLOWERS, IN ORDER TO ENCOURAGE THEM TO COME FORWARD"

others, is a beneficiary of the 2.5% to 5% fee or commission that is due for the disclosure to the EFCC (the 1st Defendant) which resulted in the recovery of the sums of $43.4 million, N23.3 million and 27,800 Euros from the subject property, and an order directing the Government accordingly. He further claims :i. That the Federal Government represented by the EFCC, the AGF and the Minster of Finance is bound by the “Whistleblowers executive policy or order to pay 2.5 – 5 per cent of whistleblowing fees or percentage as issued by the Federal Government”; ii. That the said agencies of the Federal Government (1st – 3rd Defendants) cannot refuse to pay him the said commission or fee of 2.5 – 5 per cent of the value of the said recovered sum.

In my opinion, the question raised by these reliefs, vis-à-vis the provisions of Section 251(1) of the Constitution, is: Whether the Federal High Court is the Proper Venue To Ventilate These Claims That is the million dollar question. No pun intended, but, for obvious reasons, this refrain has seldom been more apposite than now. This is because of the humongous amounts, in both local and foreign currency, involved. From our previous discussion, it is clear that the claimant’s chances of success in court depend, at least in part, on his ability to establish that his claim falls within any of the provisions of Section 251(1) of the 1999 Constitution. Which of them applies to him? That is the question. Of the nineteen–odd clauses of that proviso, I have personally been at a loss to identify which of them can comfortably accommodate the plaintiff’s said claim. In my opinion, short of shoe-horning his reliefs into any of those constitutional provisions, the closest clauses thereof are Section 251(1)(a) and Sec. 251(1)(r), which provide as follows, respectively: - “civil causes and matters relating to the revenue of the Government of the Federation in which the said Government or any organ thereof or a person suing or being sued on behalf of the said Government is a party;” and - “any action or proceeding for a declaration

or injunction affecting the validity of any executive or administrative action or decision by the Federal Government or any of its agencies” The obvious question is: does that suit relate to the revenue of the Federal Government, even if some of its organs (EFCC, AGF, MOF) are parties? Do the reliefs sought in the action (which admittedly are declarations), affect the validity of the executive order on payment of fees to Whistleblowers? I submit that, a critical view of the said reliefs will return a resounding “No” to both posers. This is all the more so, in my view, because of the trite position of the law that the Federal High Court lacks jurisdiction over cases of simple contract. See ADELEKAN v ECULINE (2006) All FWLR pt. 321 pg.

1213 @ 1226E & 1231B, per Onnoghen, JSC (as he then was) and Ogbuagu, JSC; and INTERGRATED TIMBER & PLYWOOD v U.B.N. PLC (2006) All FWLR pt. 324 pg. 1789 @ 1803B, per Ogbuagu, JSC. At any rate, it is not clear whether the whistleblowing policy is an offer, a mere puff, or an invitation to treat, as illustrated by the famous English case of CARLYLE v CARBOLIC SMOKE BALL. This is because of the seeming absence of key elements of an enforceable contract in the policy and the purported “whistle” blown – or disclosure made – in any particular case. Besides, a lot might also ride on the timing of the claim, having regard to the provisions of the Public Officers Protection Act. In other words, if (as seems to be the case), the claim in this case was filed more than three months after the purported neglect by one of the parties (the EFCC) to adhere to its purported undertaking to pay the Claimant the reward within 72 hours after the discovery, the action would be statute-barred under the Act, which applies to both natural persons and public institutions/offices alike. See IBRAHIM v JUDICIAL SERVICE COMMISSION OF KADUNA STATE (1998) 14 NWLR pt.584pg. 1. By contrast, it has to be said that, it is doubtful whether the Act applies to cases of simple contract.

Conclusion The foregoing analysis has been undertaken as a calculated risk, in the interest of fair comment on a matter of compelling public interest. This is because, given that it relates to an on-going litigation, such commentaries are ordinarily inappropriate, as the matter is said to be sub judice.

Beyond the pending litigation however, even though the Government, through the Honourable Minister of Finance, is reported to have restated its commitment to making good on its promise in this and similar cases, it is imperative that the National Assembly comes up with a workable and transparent legal framework, not only for rewarding presumed claimants of whistleblowing ‘largesse’, but also to incentivise potential Whistleblowers, in order to encourage them to come forward.

This will obviously fill the glaring gaps in the present policy, as throughout the world, law enforcement relies on credible and timely information, in order to perform optimally, especially if it is to stay a step ahead of criminals. This is all the more so, in the case of economic and financial crimes, which have regrettably conspired to bring Nigeria to its knees, and made her a by-word for official graft across the globe.

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Libyan Slave Trade, Africa’s Shame Some of the Nigerians who were rescued and repatriated from Libya last week revealed that there are at least 60,000 Nigerians in various slave camps in Libya, and that the reported trafficking and sale of humans in Libya, is on a scale larger than earlier imagined. Ikeazor Akaraiwe and Emmanuel Asiwe, urges the Federal Government to, as a matter of urgency, go into negotiations with the Libyan authorities with a view to releasing the remaining Nigerians in Libyan slave camps

Libya Slave Trade: Buhari Must Act With Urgency - Asiwe

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Private Jet Owners wo weeks after CNN aired the story of slave trade in Libya, some countries, notably Cameroon, swiftly moved to evacuate its people from Tripoli. Samuel Etoo, a Cameroon citizen, chartered a private jet to evacuate all stranded Cameroonians from Libya.

Per Forbes List, Aliko Dangote, Mike Adenuga, Folorunsho Alakija, three of richest people in the world are Nigerians, Nigeria has more private jets than airports, yet not one of these billionaires and private jet owners have volunteered their airplanes to help.

Slave Trade in Libya, Africa’s Collective Shame - Akaraiwe “At his best, man is the noblest of all animals; separated from law and justice he is the worst.”

– Aristotle

S

Treaties Against Slavery lavery in International Law is governed by a number of treaties, conventions and declarations. Foremost among these, is the Universal Declaration on Human Rights whose Article 4 states: “No one should be held in slavery or servitude. Slavery in all of its forms should be eliminated”.

Before the Universal Declaration on Human Rights, there was the Slavery Convention also known as the Convention to Suppress the Slave Trade and Slavery. This was an international treaty, created under the auspices of the League of Nations and first signed on September 25, 1926. The objective of the Convention, was to confirm and advance the suppression of slavery and the slave trade. Irrespective of these international treaties, slavery on a grand scale is going on right under our noses, and it took a CNN footage of men appearing to be auctioned in Libya for $400 per head, to awaken the world from lethargy, and focus international attention on the renewed exploitation of blacks, migrants and refugees, in Libya.

Videos and Dehumanising Treatment In one video on social media, a young man in a cell cries “Nigeria, come and take me home; tell Buhari to come and take me home; tell Baba to take us home.”

Another video shows a black youth gagged, bound and

beaten with rods by guttural- voiced Arabic speaking men.

One of the men then takes out a sharp knife, and stabs the black young man repeatedly through his rib cage. His muffled screams through the cloth that gagged him can be heard, as his blood covers the floor. I am stupefied. Then I remember Aristotle’s “At his best, man is the noblest of all animals; separated from law and justice, he is the worst.”

Libya Libya is gone to the dogs. Certainly, there could be no rule of law, where there is no law and no justice.

What manner of men are these I ask myself? What did the lad do to fetch him this dehumanising treatment? Is this Libya, Gadhafi’s paragon of perfection of which we heard so much – free education, free health, free accommodation?

What went wrong? With all the chaos in Libya, are the western powers truly happy to have got rid of Gadhafi in their revenge, as I think, over the Lockerbie bombing believed to have been orchestrated by Libyan government operatives? Or they care less, as long as they get Libyan oil at cheaper prices, and no Gadhafi threat whatsoever? Libya under Gadhafi, was a classic case of strong men and weak institutions. The fall of Gadhafi was the end of the country.

Gadhafi was Libya’s chief institution. As De Gaulle is reported to have said about France, “I am France,” Gadhafi was Libya. And now he is gone, Libya is gone. Like Yugoslavia imploded after Josef Biroz Tito its strong man, Cote d’Ivoire after strong man Felix Houphouet- Boigny, Somalia after strong man Siad Barre, and Iraq after Saddam Hussein. Zimbabwe hopefully has just escaped that fate.

If Mugabe were allowed to die in office after 37 years as President and virtually the only institution, it would have imploded. But with his negotiated exit, Zimbabwe may

now start the onerous task of building strong institutions.

But I digress. Libya is a failed State, and the latest land of black slavery thanks to a number of factors: Gadhafi’s failure to build institutions, and decision of the western powers to topple a comparatively stable state. Reminds one of Iraq doesn’t it? And in its failed condition, the various militias that pretend to govern Libya, do not care a hoot about the Universal Declaration on Human Rights and the many other treaties, conventions and declarations against slavery.

They have simply found a new focus for their bestiality, the hapless and helpless young black males and females south of the Sahara and north of the Kalahari, by the droves, in search of Eldorado, fleeing poverty, bolting from irresponsible governments. Rape, slavery, murder and worse are their lot.

Why the Exodus?

Why are African youngsters running from home and heading for Europe on foot, camels’ back and non-sea worthy vessels? Someone has said that the Trans- Atlantic

"WHY ARE AFRICAN YOUNGSTERS RUNNING FROM HOME AND HEADING FOR EUROPE ON FOOT, CAMELS’ BACK AND NON-SEA WORTHY VESSELS?.... THAT THIS MIGRATION BACK TO EUROPE AMOUNTS TO VOLUNTARY SLAVE TRADE. NO THANKS TO AFRICA’S LEGION OF IRRESPONSIBLE KLEPTOCRATIC LEADERS.... ”

slave trade of yester- years was not voluntary, but that this migration back to Europe amounts to voluntary slave trade.

No thanks to Africa’s legion of irresponsible kleptocratic leaders, whose mission appears to be in rivalry to locusts on a corn-field. To take the trans-Saharan route to Europe, I understand costs about one thousand U.S dollars, which is about three hundred and sixty thousand naira. Why do our youths prefer to raise that amount, to go to Europe and face possible death or dehumanisation on the way, rather than use that sum of money for a small scale business? But I know the answer. Our youths have lost hope in Nigeria.

In West Africa. Perhaps, in all of Black Africa. Like the four lepers in 2 Kings chapter 7 verses 3 - 5 who said to themselves “If we remain here we shall die, so let us fall into the hands of the Syrians. If they save us alive, we shall live, and if they kill us, we shall but die”, the sub-Saharan African youth has lost hope. One in four Africans and one in five black persons worldwide is Nigerian, as is often touted. It is therefore, no exaggeration, to suggest that at the barest minimum, one in four enslaved Africans is Nigerian.

These Africans, nay Nigerian youth, expect nothing but desolation and more desolation and poverty at home.

They have grown to expect institutionalised poverty, and discrimination in university and schools admission policies, in job and economic opportunities.

And so, they board overcrowded boats and take the risk of the Sahara desert, saying in effect, ‘At home there is no hope, so let us fall into the hands of the Libyans. If they spare us, we shall live, if they kill us, we shall die just as we would have if we stayed back at home’. The more or less voluntary submission by the SubSaharan African youth, to possible enslavement is the greatest possible announcement of the failure of governance in Africa. Whether democracy, monarchy or dictatorship, all have failed and come short of the glory of God, to paraphrase that well-worn phrase.

President Buhari’s Reaction Under President Buhari, mum has been the word. No recriminations against Libya, no comments whatsoever until

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President Buhari’s Reaction Rather than informing us about how many stranded Nigerians his administration has evacuated from Libya in the past fourteen days, Mr. President is still talking about his intentions or what he wants to do.

However, the reality is that more Nigerians are being sold into slavery in this weekly slave market, at a meagre sum of between $450 to $600 or the Naira equivalent of N145,000 to N192,000.

According to Shehu Garba; President Muhammadu Buhari on Tuesday night in Abidjan, declared that all Nigerians stranded in Libya and other parts of the world, will be brought home and rehabilitated.

The President while speaking when he addressed Nigerians in the Diaspora, vowed to reduce the number of Nigerians heading for Europe illegally through the Sahara Desert and the Mediterranean Sea, by providing basic social amenities such as education, healthcare, and food security at home.

In an interactive session with members of the Nigerian Community in Cote D’ Ivoire, on the margins of the 5th AU-EU Summit, President Buhari said all necessary steps will be taken to stem the tide of illegal migration

by Nigerians.

He, however, noted that it is very difficult to know the origin of the people who died, while attempting the perilous journey across the Mediterranean, because of lack of documentation.

“When it was announced that 26 Nigerians died recently in the Mediterranean, before they proved that they were all Nigerians they buried them.

“But the evidence I have from the Senior Special Assistant on Diaspora and Foreign Affairs, Mrs. Abike Dabiri-Erewa, is that only three of them were identified

"HOWEVER, THE REALITY IS THAT, MORE NIGERIANS ARE BEING SOLD INTO SLAVERY IN THIS WEEKLY SLAVE MARKET, AT A MEAGRE SUM OF BETWEEN $450 TO $600 OR THE NAIRA EQUIVALENT OF N145,000 TO N192,000”

as Nigerians. But I will not be surprised, if the majority of them were Nigerians.

“For people to cross the Sahara desert and Mediterranean through shanty boats... we will try and keep them at home. But anybody who died in the desert and Mediterranean without documents; to prove that he is a Nigerian, there is absolutely nothing we can do”, he said.

Reacting to a recent footage on the sale of Africans in Libya, President Buhari said it was appalling that “some Nigerians (in the footage), were being sold like goats for few dollars in Libya”. ‘‘After 43 years of Gadhafi, why are they recruiting so many people from the Sahel, including Nigerians?

All they learned was how to shoot and kill. They didn’t learn to be electricians, plumbers or any other trade’’, he said.

On domestic issues, President Buhari told Nigerians in the Diaspora that, there is ‘‘good news from home’’ in the area of security, economy and anti- corruption.

“We are not doing too badly in trying to secure the country, improve the economy and deal with corruption.

“We are doing our best at all levels, including security.

It is absolute madness for people to blow others up in markets, churches, and mosques. No religion advocates violence. Justice is the basic thing all religions demand and you can’t go wrong if you do it’’, he said.

The President advised Nigerians in Cote D’ Ivoire, to be good ambassadors in their host country, warning that the Embassy will not hesitate to repatriate those who tarnish the image of the country abroad.

Emmanuel Asiwe, Arlington, Massachusetts, USA

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SLAVE TRADE IN LIBYA, AFRICA’S COLLECTIVE SHAME - AKARAIWE nearly two weeks after the CNN video. By then, it was ‘too little, too late’. Cameroon has evacuated her citizens from Libya, but Nigeria is not only yet to, President Buhari’s spokesman, Shehu Garba, informed us from Abidjan on Tuesday, November 28, 2017, that government plans to evacuate our people. And this is about 14 days after CNN first broke the story.

It is difficult not to classify President Buhari as the ultimate cynic. An honest man by all accounts, he practices the politics of region and religion. The politics of the 97% who supported him versus the 5% who did not, as he disingenuously exampled in his famous interview with Ambassador John Carson. Hurt a cattle herdsman or cattle, or the President’s Fulani kith and kin, and government run by this patron of the Miyetti Allah Cattle Breeders Association of Nigeria, swings into action directly or by his foot soldiers. Not so, other Nigerians. Migration in Nigeria are often by two main ethnicities, the dynamic Fulani in search of pasture for their flock, and the entrepreneurial Igbo. There are also varying degrees of migration by the South-South and South- West. It is not likely that our cattle herdsmen would take their cattle past the Sahara desert in search of pasture. And that leaves you with the Igbo and South-South minorities. I regret to say that the inaction or slow reaction by President Buhari’s administration to the slave trade going on in Libya, is rooted in this equation.

What Nigeria Must do The Nigerian Government, must file an action against Libya in the African Commission on Human and Peoples’ Rights, citing Libya’s violation of Article 4 of the Universal Declaration on Human Rights: “No one should be held in slavery or servitude. Slavery in all of its forms should be eliminated”.

The President is called upon to take the entire country as his constituency. To forget

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Libya Slave Trade Survivors

the “97%” who voted for him, and the “5%” who did not, and swing into action on this Libyan debacle. He should send a high powered diplomatic team, to negotiate and obtain the release of every Nigerian citizen being held in Libya. His diplomatic efforts should aim for, and get Libya sanctioned for violating the Universal Declaration on Human Rights. Nigeria should consider breaking diplomatic relations with Libya even if symbolic, for one day only, or recall our Ambassador to Libya. What is going on there in that Hobbesian society?

President Buhari must burnish his gradually fading image, by giving fillip to the Fight Against Corruption. Corruption is implicated in our children fleeing the country. Like a beautiful maiden destitute of affection, everyone wants to rape this beautiful maiden called Nigeria. No one treats her with respect. Most who come her way, are thieves and robbers. It is these thieves and robbers who have turned this paragon of fruitfulness into wasteland and driven our teeming youth away from their motherland. Let the Libyan slave

trade, awaken in us a new resolve: NEVER AGAIN shall Nigerian boys and girls be brought to a place where like the three Hebrew lepers, they rather face death or dehumanisation, than remain in Nigeria!

Our youth must become the centre-piece of government thought and action. The children of today, are the leaders of tomorrow. The time to start is now!

Ikeazor Akaraiwe, 1st Vice- President Nigerian Bar Association (NBA) & Chairman, NBA Human Rights Institute (2006-2008)

BUHARI, AGF, CBN URGED TO PROBE AMCON, STERLING BANK FOR DISOBEYING COURT JUDGMENT ON LANDED PROPERTY CONTINUED FROM PAGE 5 which had gone bad, was transferred to the AMCON in 2011. At the time, the CBN had spent over $6.8 billion of taxpayers funds purchasing the non-performing loans from failed banks.

“My companies, Grant Properties Ltd, Knight Rook Ltd; and Havilah Villas Ltd currently have 2 accounts with AMCON, which were transferred to the Coropration by various banks, namely: Skye Bank Plc; Sterling Bank Plc; Wema Bank Plc and Unity Bank Plc. “In 2011, we were informed by Skye Bank Plc, one of the 4 banks financing our Victory Park Estate development, that it had assigned its shares of the project loans to AMCON. The Victory Park project was being developed on 46 Hectares of land, it was financed by Skye Bank, Sterling Bank, Wema Bank and Unity Bank. We pledged our shares in our subsidiary, Knight Rook Ltd to them as security for the loan, in lieu of a legal mortgage, which is usually more expensive and time consuming to complete.

“To our surprise, we discovered that instead of transferring all our land to AMCON along with the loan, Sterling Bank retained 10 hectares of the land, which was sold to its Director, Mr. Yemi Idowu a real estate developer, whom the bank had appointed to manage our account, in disregard of blatant conflict of interest. In fact, we were surprised when Sterling Bank appointed Mr. Idowu to manage our account, because the management of the banks, were aware that he had always expressed an interest in buying the land.

“As manager of the account, Mr. Idowu then sold 10 hectares of the land to himself, after his bank had transferred our loan obligations to AMCON. This was in flagrant breach of the AMCON Act. We complained about the insider trading to AMCON, and the management promised to help us retrieve our land, but they failed to do so.

“We filed an action in court to challenge the illegal sale of the land, and AMCON intervened.

During these proceedings, we discovered that after initially selling the land to himself at N18,500/m, Sterling Bank and Yemi Idowu, subsequently sold 2.4 hectares of the land to UPDC at the higher rate of N26,000/m rate, which translated to a secret profit of N750 million, if the entire 10 hectares was sold at the same rate. During the course of the trial, we discovered that Mr.

Idowu only sold 2.4 hectares of the land and retained the balance of 7.6 hectares, which he developed and called Cadogan Estate, which contains several hundreds of housing units.

“We pointed out to AMCON that this was illegal under the terms of AMCON Act; but rather than reverse the sale of the land, AMCON instructed us to withdraw our case from the court, with the promise that they would mediate. Terms of settlement were proposed as follows: AMCON would provide N2 billion in financing to enable us complete the project and settle the loan, the banks would refund the assumed secret profit of N750 million based on the assumption that all the 10 hectares were resold at N26,000/m, we would ratify the sale of the land, and finally that the terms of settlement would be entered in the Court as a consent judgement binding all parties.

“However, before the terms of settlement were sighed, AMCON informed us that their Board had rejected the proposal, and refused to provide the necessary funding. We therefore, resumed the pursuit of our case in the court. We also complained to members of the previous AMCON Board led by its erstwhile Chairman, Alhaji Aliyu Belgore.

We met with the Chairman and the CEO, Mr. Mustafa Chike-Obi at the AMCON offices, and it was agreed that AMCON’s management would write a letter to Sterling Bank Plc to return our land.

“Following this, we were invited to the Central Bank of Nigeria to respond to a complaint which was referred to the CBN by AMCON’s Board, following the failure (or refusal) of its management to write the agreed letter. After our interview with CBN, we were advised to wait, as the matter was before the court. To our utter dismay, Mr. Ayeye, AMCON Executive Director, said that there is no record of the Board intervention or the resolutions reached therein within, which is rather strange. However, we have our own copies of correspondence exchanged with AMCON and CBN sequel to this meeting.

“While we pursued our case, Yemi Idowu and UPDC continued developing the land, in defiance of 2 court orders obtained in 2012, which ordered all parties to cease all construction activities on the disputed 10 hectares, pending determination of the case. Mr. Idowu developed Cadogan Estate, while UPDC built Alexander Miller Estate on the land, in defiance of these court orders. Both

parties have made huge profits from the illegal transaction, while we have been left to carry the burden of the debt obligations to AMCON. “Having won our case and secured our land, we wrote to AMCON on 15th June, 2017, enclosing a Certified True Copy of the judgement and a proposal to repay our loan from the land we won in the judgement. To our surprise, on 16th June, 2017, several mobs of armed thugs and policemen led by lawyers from the firm of Matrix Solicitors, took over our properties in a coordinated attack across various premises.

“They forcibly took over our office premises at Goshen Beach Estate and our Victory Park Estate. In the process, they beat up our staff at both locations. AMCON has frozen our personal and corporate accounts, causing hardship to my family. Since AMCON took over our premises, we have stopped trading. We have not been able to pay salaries of our staff, which is causing great hardship to them and to their families.

“Meanwhile, they have continued to harass and extort innocent property owners in Victory Park, by erecting AMCON signs on their properties and preventing them from carrying out construction on their sites unless they “Ratify their Titles” with Matrix Solicitors.

“When we met with AMCON after the Receiver moved against us, Mr. Ayeye told us that the judgement was of no consequence, because the issue of the land was settled as far as AMCON is concerned. He stated that the Corporation had taken the sum of N501 million from the banks from the secret profits made from the sale of the land, in order to ratify the title. We reminded Mr. Ayeye that AMCON cannot ratify an illegal act or refuse to recognise a decision of the court, but he told us to forget about the judgement and the 10 hectares of land.

“We do not know why AMCON is ignoring a judgement, which would allow us settle our obligations immediately, since Cadogan Estate is worth at least N30 billion, which is far in excess of the N8.5 billion which AMCON is asking us to pay in final settlement of the obligations.

We are baffled at Mr. Ayeye’s insistence that “Yemi Idowu is innocent”, because his position contradicts several subsisting laws and very recent judgement of the court.

“I also do not understand why AMCON

has deliberately rendered 3 generations of my family, homeless, just to protect the illegal activities of Yemi Idowu and Sterling Bank, particularly after a competent Court has determined the issue conclusively. It is important to note that, while AMCON states that they do not acknowledge the judgement, they have also negotiated with Yemi Idowu to make payment of N2 billion, in order to force us ratify the illegal sale of our land.

While we are not opposed to ratifying the sale, our position is that, if we are to do so, then Yemi Idowu and Sterling Bank must settle our debt obligations in full, in exchange for our agreement to compromise the judgement.

“We are requesting an immediate and thorough investigation of the involvement of Sterling Bank; its MD, Mr. Yemi Adeola; Ms Justina Lewa (Company Secretary); and Mr. Yemi Idowu and their surrogate companies, including Mosam Global Construction Ltd; RED Ltd (Real Estate Development Company of Nigeria Ltd); SAMTL Ltd (Sterling Assets Management & Trust Ltd); SAMTL Properties Ltd; and Aircom Ltd, in the illegal sale and development of our land. These individuals and companies, were all involved in the illegal sale of customer assets in violation of several laws”, Olajide-Awosedo stated.

Meanwhile, Mr. Ayeye, AMCON Executive Director, in his reaction to the allegations to an online publication said, “Grant Properties is just throwing wrong news everywhere. You guys should be careful of somebody who was owing banks for about five years before AMCON took over, and for eight years that AMCON has taken over, the company has not paid us one penny”.

Ayeye also referred the issue to the Corporation’s Corporate Affairs Department, for details.

But AMCON’s head of Corporate Affairs, Jude Nwauzor said the Corporation’s Legal Department, was working on a rejoinder to all the allegations.

“It is a running case, it didn’t just start. Our lawyers have looked at all this, and they are coming up with a response. We have never acted outside the jurisdiction of the law”, Nwazor said.

On his part, Mr. Yemi Idowu had also reacted to the allegations against him through the online publications thus: “It is a personal corporate matter between two big businessmen, and it has nothing to do with public interest. The case is in court, and it is not something I should talk about”.

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Where Liquidation is Preferable to MSMES & Economic BeneďŹ ts from Successful Liquidations At the African Round Table on “Plugging the Implementation Gapâ€?, organised by INSOL International and World Bank Group, held on November 10th, 2017 at the Sugar Beach Resort, Mauritius, Mike Igbokwe, SAN, presented this Paper on some aspects of Liquidation of Micro,Small and Medium Enterprises (MSMEs)

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Micro, Small and Medium Enterprises hese enterprises, may be defined as companies which have less than 10, 50 and 200 employees respectively.

The annual turnover of these enterprises, ranges from less than 20million, 100million and 500million respectively, for each enterprise. They contribute to the economy, by creating employment opportunities for unskilled, semi-skilled and professional people; and providing a source of livelihood for majority of low-income households in Nigeria.

MSMEs are usually engaged in industry, agric-business and agro-allied businesses and services. Thus, they are perceived as the ‘engine of growth and catalyst for socio-economic transformation of any country, especially in a developing country like Nigeria’, by inter alia, strengthening the manufacturing sector of the Nigerian economy.

However, due to the unstable economy prevalent in developing countries, MSMEs face major challenges, including lack of finance and capital, which cause them to resort to borrowing money for working capital that they secure with either debentures or legal mortgages.

As a result of challenges including: r MBDL PG FYQFSUJTF JO DPNNFSDJBM operations, r MBDL PG LOPXMFEHF PG CVTJOFTT practices, r JOBEFRVBUF SFTPVSDFT UP DPWFS UIF costs of making the business viable, r FYDFTTJWF FYQFOEJUVSF r GBJMVSF PG DMJFOUT UP QBZ NPOFZ PXJOH or to follow through on business projects, r DPNQFUJUJPO r JNQSBDUJDBM CVTJOFTT WFOUVSFT r Ă OBODJBM NBOBHFNFOU BOE DSFEJU situations, r Ă OBODF BOE NBOBHFNFOU r TIBSFIPMEFST BOE JOUSB GBNJMZ disputes and cultural disputes, many of the MSMEs in Nigeria fail completely.

When MSMEs face challenges, they are VTVBMMZ MFGU XJUI UXP PQUJPOT MJRVJEBUJPO and restructuring or reorganisation. A common statement in insolvency, is that the ďŹ rst rule of business is to grow or die.

An MSME that is not making profit, is likely to run into a loss and become financially troubled but, it is not likely to attract capital from banks or investors and; suppliers would not want to sell goods or services to it on credit.

It is not likely to have money to invest in new product development, advertisement, break into new markets, improve plant efficiency or recruit the best staff from its competitors. Its competitors are likely to entice and take away its staff.

4JNQMZ QVU BO .4.& JT MJRVJEBUFE by winding up its affairs by ascertaining liabilities, and apportioning assets and killing the company. Basically also, restructuring or corporate rescue is about the reorganisation of the liabilities of a financially- troubled MSME, to prevent it from dying by rescuing it GSPN MJRVJEBUJPO TP UIBU JUT CVTJOFTT XJMM be carried on as a going concern. It can be done by either a combination of a statutory procedure and or an informal non-statutory and contractual process. )PXFWFS UIF MJRVJEBUJPO PG .4.&T

is preferred to rescue in the following situations and for the following reasons:a) New Opportunities: -JRVJEBUJPO gives MSMEs the opportunity for a fresh start. r %VF UP UIF GBTU QBDFE ESJWF PG MSMEs and the various business opportunities prevalent in a growing FDPOPNZ MJLF /JHFSJB UIF MJRVJEBUJPO process gives the entrepreneur ample time to re-evaluate the business, the lessons learned and plan for the future. r 3FTUSVDUVSJOH PO UIF PUIFS IBOE merely reorganises the liabilities recurring in the business, rather than relieve them. b) DifďŹ culties associated with restructuring are lacking in liquidation: r 5IF FYUFOU PG UIF ASFTDVF BOE UIF nature of the restructuring will largely be determined by: r UIF TFSJPVTOFTT PG UIF .4.& T financial difficulties, r UIF FDPOPNJD BOE DSFEJU DMJNBUF BU UIF relevant time, r UIF OBUVSF PG UIF PCMJHBUJPOT JO RVFTUJPO BOE r UIF BUUJUVEF PG JUT DPNQBOZ T

creditors to the proposals put to them. r $PNNFSDJBM GBDUPST DPOTJEFSFE JO restructure include: r UIF WBMVF PG UIF TFDVSJUZ DPWFS enjoyed by lenders, at the time the .4.& T EJGĂ DVMUJFT CFDBNF BQQBSFOU r UIF QSPTQFDUT GSPN BOE UIF UJNFMJness of, recovery through a receivership PS MJRVJEBUJPO r UIF FBTF XJUI XIJDI PUIFS DSFEJUPS constituencies can be brought into a restructuring and their willingness to QBSUJDJQBUF JO JU BOE r UIF OBUVSF PG UIF QSPCMFNT FYQFSJFODFE CZ UIF DPNQBOZ and whether they are soluble at all. r 0UIFS GBDUPST JODMVEF r UIF TJ[F PG UIF DPNQBOZ DPODFSOFE r UIF TFOTJUJWJUZ PG JUT MFOEFST UP publicity, which may be associated with an insolvency and; r XIFUIFS UIF SFMBUJPOTIJQ FOKPZFE by the company with its lenders is sufficiently close and historically profitable to encourage the lenders to take a long-term view of its process. r 3FTUSVDUVSF FOUBJMT B EFMJCFSBUF QMBO and action to find out the problems of

"MSMES ARE USUALLY ENGAGED IN INDUSTRY, AGRIC-BUSINESS AND AGRO-ALLIED BUSINESSES AND SERVICES. THUS, THEY ARE PERCEIVED AS THE ‘ENGINE OF GROWTH AND CATALYST FOR SOCIO-ECONOMIC TRANSFORMATION OF ANY COUNTRY, ESPECIALLY IN A DEVELOPING COUNTRY LIKE NIGERIA’..."

the troubled or debtor MSME, identify the solutions to the problems and apply those solutions to the problems whilst getting resources to keep it going until restructuring occurs. There is no magic wand for restructuring it. r 3FTUSVDUVSJOH JT EJGĂ DVMU BOE DBO CF frustrating and may fail in rescuing the MSME. r *U JODMVEFT r QSPEVDU EFWFMPQNFOU r TBMFT BOE NBSLFUJOH r BTTFU NBOBHFNFOU r Ă OBODJBM BOBMZTJT r DVTUPNFS SFMBUJPOTIJQ r DSFEJUPST TIBSFIPMEFST EJSFDUPST employee relations, r NBOBHFNFOU BOE r B IJHI MFWFM PG MFBEFSTIJQ r 4PNFUJNFT BGUFS UIF EFCUPS .4.& has made some progress, it may fall into SFUSPHSFTTJPO .BOZ UFDIOJRVFT NVTU CF FYQMPSFE BOE BQQMJFE TPNF NPSF UIBO once, picking and choosing from different strategies, in order to get the best results for the peculiar situation of the debtor company. r 4JODF UIF CFTU XBZ UP SFTDVF B EFCUPS MSME includes time and money, finding the resources to buy a troubled company, enough time to restructure it, is not easy.

Whilst the rescue process is ongoing and if OPU RVJDLMZ DPNQMFUFE UIF .4.& T BTTFUT may be depleting or depreciating or lost. r %VF UP UIF GBDU UIBU TPVSDJOH GPS money may never work, since creditors are wary of its ability to pay back, unless the debtor MSME is made self-reliant and self-sufficient, the restructuring could fail. r *O USZJOH UP CVZ UJNF UISPVHI DVUUJOH CONTINUED ON PAGE 12

12/

05.12.2017

WHERE LIQUIDATION IS PREFERABLE TO MSMES & ECONOMIC BENEFITS FROM SUCCESSFUL LIQUIDATIONS expenses and increasing cash flows, unless that time can be used productively, the debtor MSME may never achieve its goals or recover. c) Investors’ conďŹ dence: Investors are more willing to invest in new businesses that show potential, than businesses that are in the process of restructuring. r *OWFTUPST UFOE UP RVFTUJPO UIF GVUVSF of the business in restructuring, due to the instability and various changes that occur in such a business. d) Cost-effective measures: The DPTU GPS MJRVJEBUJPO JT SFMBUJWFMZ MPX BOE cheaper to commence. r 'PS FYBNQMF JO /JHFSJB UIF Ă MJOH GFFT GPS B QFUJUJPO GPS MJRVJEBUJPO DPTUT is assessed based on the amount of the debt. r 'PS B EFCU BNPVOUJOH UP BCPVU / 000, 000 (about USD$88, 889), the costs GPS Ă MJOH B QFUJUJPO GPS UIF .4.& T MJRVJEBUJPO JT BCPVU / BCPVU 64% " XJOEJOH VQ CZ UIF DPVSU can be initiated by an application to the 'FEFSBM )JHI CZ B DSFEJUPS JG XFFLT after a demand for payment of a debt OPU MFTT UIBO / IBT CFFO TFSWFE PO the debtor MSME, it neglected to pay the debt. See Ss. 409 & 410 of Companies and "MMJFE .BUUFST "DU i$"."u 5IF $PVSU NBZ BQQPJOU B -JRVJEBUPS GPS UIF purpose of conducting the proceedings in winding up a company and performing TVDI EVUJFT BT UIF $PVSU NBZ JNQPTF "MM the powers of the directors of the debtor MSME shall cease, except to the extent to which the Court allows them to continue.

4FF T $"." r )PXFWFS UIF QSPDFTT PG SFTUSVDUVSJOH XIFUIFS DBQJUBM Ă OBODJBM PS PQFSBUJPOBM DPVME DPTU NJMMJPOT PG /BJSB XJUI UIF additional cost of hiring a public image branding consultant to maintain and or restore such enterprise. e) Legal actions against the MSMEs are terminated by liquidation: "MM MFHBM actions instituted against the MSMEs XJMM CF UFSNJOBUFE #Z T $"." if a winding up order is made or a QSPWJTJPOBM -JRVJEBUPS JT BQQPJOUFE OP action or proceeding shall be proceeded with or commenced against the debtor (MSME) except with the leave of Court given on terms. r "T UIF .4.& TMPXMZ DPNFT UP BO end, so do all legal actions instituted for debts incurred by the company. r 5IJT BMTP BMMFWJBUFT UIF TUSFTT BOE pressures endured by the entrepreneur, which are associated with claims made by creditors against the enterprise.

Economic BeneďŹ ts of Successful Liquidations The following are some of the ecoOPNJD CFOFĂ UT PG TVDDFTTGVM MJRVJEBUJPO PG MSMEs: B *U FMJNJOBUFT VOOFDFTTBSZ Ă OBODJBM

CVSEFOT PO (PWFSONFOU BOE #BOLT UP continue to service MSMEs that are in debt. r #BOLT JO /JHFSJB BSF NBOEBUFE CZ UIF $FOUSBM #BOL PG /JHFSJB UP TFU BTJEF BOE NBLF QSPWJTJPOT JO UIFJS CPPLT for bad loans of MSMEs, which is a great CVSEFO PO UIF #BOLT r "MTP UIF 4NBMM BOE .FEJVN &OUFSprise Investment Scheme setup in 1999, SFRVJSFT UIBU BMM /JHFSJBO CBOLT TFU BTJEF PG UIFJS QSPĂ U BGUFS UBY GPS FRVJUZ investment and promotion of MSMEs. r "T TVDI JO UIF FWFOU UIBU BOZ .4.& JT XPVOE VQ PS MJRVJEBUFE UIF CVSEFO PO JUT #BOLT UP FNQPXFS TVDI FOUFSQSJTF JT reduced, and the funding can be shifted to other MSMEs. r ;PNCJF .4.&T XJUI OP QSPTQFDU of surviving, would have remained in the system, contaminating other parts of the system and causing bad allocation of SFTPVSDFT A;PNCJF JT B UFSN VTFE GPS B DPNQBOZ UIBU OFFET Ă OBODJBM CBJMPVUT JO order to operate or a debtor company that is able to repay the interest on its debt, but not able to repay the principal. It survives and continues to operate, despite its insolvency. It is mainly a research and EFWFMPQNFOU DPNQBOZ UIBU XPSLT XJUI IJHI SJTL FYQFDUBODZ UIBU JUT SFTFBSDI BOE development will eventually be successGVM SFTVMUJOH JO IVHF QSPĂ U BOE SFEVDUJPO of liabilities. It generates funds, only enough to repay the interest on debts owed by it, but not to pay the debt itself.

4P JU JT MBSHFMZ EFQFOEFOU PO CBOLT GPS JUT DPOUJOVFE TVSWJWBM BOE JU JT LFQU BMJWF most of the time, by lenient creditors and low interest rates, even though it is too Ă OBODJBMMZ XFBL UP JOWFTU PS FYQBOE C 5IF MJRVJEBUJPO PG EFCUPS .4.&T

XIJDI GSFFT #BOLT GSPN MFOEJOH UP USPVCMFE .4.&T JNQSPWFT UIF MJRVJEJUZ PG #BOLT BOE BWPJET EJTUSFTT BOE UIF DPMMBQTF PG #BOLT UIBU XPVME IBWF BEWFSTFMZ BGGFDUFE UIF CBOLJOH BOE Ă OBOcial systems and the national economy.

3FDBMM /JHFSJBO #BOLT GBJMVSFT PG UIF ‘90s, which prompted the establishment PG /JHFSJBO %FQPTJU *OTVSBODF $PSQPSBUJPO /%*$ QVSTVBOU UP UIF /%*$ "DU BOE UIF 'BJMFE #BOLT 3FDPWFSZ PG %FCUT BOE 'JOBODJBM .BMQSBDUJDFT JO #BOLT "DU "MTP SFDBMM UIF #BOLT failures, distresses, toxic assets prompting UIF TFUUJOH VQ PG "TTFU .BOBHFNFOU $PSQPSBUJPO PG /JHFSJB ".$0/ CZ WJSUVF PG UIF ".$0/ "DU BT BNFOEFE JO UP QVSDIBTF UIF CBE loans and toxic assets of companies JODMVEJOH .4.&T 5IF SFNBJOJOH #BOLT are now strong without provisioning for bad debts, to lend to other MSMEs and productive sectors of the economy.

D *U DPOUSJCVUFT UP UIF NBSLFU TIBSF PG running healthy companies. r 5IJT JT OPU POMZ HPPE GPS DPNQFUJUJPO CVU BMTP DSFBUFT DPOĂ EFODF JO JOWFTUPST JO UIBU QBSUJDVMBS NBSLFU r *U BMTP HFOFSBUFT NPSF SFWFOVF GPS the government.

E "MM MFHBM BDUJPOT BHBJOTU UIF DPNQBOZ BSF FYUJOHVJTIFE PO MJRVJEBUJPO 4FF T $"." TVQSB

r 5IFSFGPSF UIF DPVSUT BSF EFDPOHFTUFE r %FMBZ PG BDUVBM FYFDVUJPO UISPVHI appeals and interlocutory applications for stay of execution as can be experienced in collateral or private enforceNFOUT BSF VODPNNPO JO MJRVJEBUJPO proceedings. r 5IF DSFEJUPST BSF BTTVSFE UIBU UIFJS debts will be paid in full or partially, as

GAILLARD: NIGERIA NEEDS GOOD ARBITRATION LAW, JUDGES CONTINUED FROM PAGE 6 a dispute, at the moment we arbitrate from Paris, London, why not here in a neutral place you have nothing to do with Cameron, China so why not do it here, it will be very convenient to do it here. /PX UIF QSFNJTFT ZPV IBWF JT WFSZ HPPE and it needs to be publicise as well. The MBX QFSTPOBMMZ * XPVME MJLF UP TFF BT UIF VTFS JG * XFSF UP BEWJTF QBSUJFT UP TBZ PLBZ QVU ZPVS BSCJUSBUJPO DMPTF MJLF JO -BHPT * would say the law might a little bit change or centralise the judge having competence to SFWJFX UIF BXBSE NBLF TVSF UIF OFHBUJWF effect competence is recognise.

"OE UIFO JU UBLFT NBSLFUJOH JG ZPV UBLF B TVDDFTTGVM FYBNQMF JO "TJB BMM UIF BSCJUSBUJPO are between Singapore. Singapore was nowhere ZFBST BHP UIFZ IBWF DSFBUFE B HPPE MBX JO "SCJUSBUJPO (BJMMBSE TBJE 0O IFS QBSU .ST 'VOLF "EFLPZB 4"/ TBJE /JHFSJB TUJMM OFFET B MPU NPSF FEVDBUJPO PO "SCJUSBUJPO FTQFDJBMMZ PO UIF JTTVF PG enforcing arbitral awards.

"DDPSEJOH UP "EFLPZB UIF FOGPSDFNFOU of arbitral awards, is the same manner in which one goes to court to get a judgement.

"The enforcement of arbitral awards, is the same manner in which you go to court ZPV HFU B KVEHFNFOU JU T B QJFDF PG QBQFS

ZPV XJMM IBWF UP CF BCMF UP HFU UIF CFOFĂ U 5IF QSPCMFN XJUI "SCJUSBUJPO JT FYBDUMZ the same, you have an arbitration award, you need to enforce it where the other side does not do so voluntarily. In many other countries, awards are enforced voluntarily, the QFSTPO XIP MPTFT DPNQMJFT CVU JO /JHFSJB we still have that litigation element to a large extent, especially where the award is from BCSPBE ZPV Ă OE PVU UIBU UIFZ EPO U XBOU to comply voluntarily with the award, so they have to enforce it.

"HBJO UIJT JT CFDBVTF ZPV IBWF B TJUVBUJPO where parties have themselves chosen their +VEHFT UIF "SCJUSBUPST *O PUIFS DPVOUSJFT "SCJUSBUPST BSF DIPTFO UIFZ HJWF BO BXBSE UIF QBSUJFT DPNQMZ UIFZ BSF IBQQZ :PV Ă OE B TJUVBUJPO JO /JHFSJB XIFSF XIFO QFPQMF have chosen the Judges and then the Judge EPFTO U HJWF KVEHFNFOU UIF XBZ ZPV FYQFDU ZPV EPO U XBOU UP DPNQMZ 4P XIBU XF BSF USZJOH UP EP JT UP NBLF people realise that the fact that you have chosen your Judge does not mean his judgement will CF GPS ZPV *U JT CFDBVTF UIFZ EPO U IBWF UIF judgement in their favour and they appointed the Judge, that is why they want to set it aside. So we need a lot more education on UIBU TJEF "EFLPZB OPUFE

&YQMBJOJOH UIF EJGGFSFODFT 6/$*53"- $POWFOUJPO BOE UIF /FX :PSL $POWFOUJPO UIF 4FOJPS "EWPDBUF TBJE UIF /FX :PSL Convention is different, because it lays down the principle for enforcement, while 6/$*53"- .PEFSO -BX PG "SCJUSBUJPO lays down a modern arbitration law for the countries, which does not include how to enforce.

6/$*53"- TUBUFT UIF CBTJT VQPO XIJDI BO BXBSE DBO CF TFU BTJEF #VU UIF /FX :PSL $POWFOUJPO TFUT PVU UIF QSPDFEVSF XIFSF ZPV DBO IBWF BO BXBSE JO /JHFSJB BOE FOGPSDF JU JO -POEPO 4PVUI "GSJDB *TSBFM BOE vice -versa. So, it is the enforcement across countries that the Convention deals with. .ST "EFLPZB FYQMBJOFE UIBU JU JT WPMVOUBSZ GPS QBSUJFT UP TJHO JOUP UIF /FX :PSL $POWFOUJPO BEEJOH UIBU /JHFSJB TJHOFE into it in 1970.

5IF /FX :PSL $POWFOUJPO JT UIF $POWFOtion that has the largest number of countries JO UIF XPSME UIBU IBWF TJHOFE JU "OE UIF OVNCFS JT BCPVU DPVOUSJFT OPX 5IF $POWFOUJPO DBNF JO TIF TBJE 0UIFS TQFBLFST BU UIF XFMM BUUFOEFE FWFOU XFSF .S "EFXBMF "UBLF PG 5FNQMBST .S *TBJBI #P[JNP PG #SPEFSJDL #P[JNP BOE .S )BNJE "CEVMKBSFFN PG "MVLP BOE 0ZFCPEF

CONTINUED FROM PAGE 11

"THE LIQUIDATION OF DEBTOR MSMES WHICH FREES BANKS FROM LENDING TO TROUBLED MSMES, IMPROVES THE LIQUIDITY OF BANKS, AND AVOIDS DISTRESS AND THE COLLAPSE OF BANKS, THAT WOULD HAVE ADVERSELY AFFECTED THE BANKING AND FINANCIAL SYSTEMS AND THE NATIONAL ECONOMY�

TPPO BT UIF MJRVJEBUJPO QSPDFTT JT Ă OBMJTFE r "OZ EFCUPS UIBU JT DBQBCMF PG QBZJOH its debt but deliberately refuses to do so, XPVME BVUPNBUJDBMMZ MJRVJEBUF TBNF VQPO the mention of insolvency proceedings. r -JRVJEBUJPO DBVTFT EJSFDUPST BOE shareholders of MSMEs, to cause MSMEs UP RVJDLMZ QBZ UIFJS EFCUT JO PSEFS UP TBWF the troubled SMEs from dying, and avoid them losing their business image and integrity due to the reputational damage and stigma, usually resulting from MJRVJEBUJPO 4PNF PG UIFN UIBU BSF BCMF CVU SFMVDUBOU UP QBZ VTVBMMZ RVJDLMZ TFUUMF their debts or enter into negotiations with creditors to settle their debts, when faced XJUI UISFBUT PG MJRVJEBUJPO PS BQQMJDBUJPOT UP MJRVJEBUF UIFN e) Rather than incurring continuous EFCUT GVOET BUUBJOFE GSPN MJRVJEBUJPO BSF freed and can be used to focus on funding new and creative business opportunities. r 5IJT GVSUIFS HFOFSBUFT NPSF SFWFOVF for entrepreneurs and the economy.

G 5IF QBSJ QBTTV iFRVBM SBOLJOH

QSJODJQMF FOTVSFT B MFWFM QMBZJOH Ă FME BOE FRVBM PQQPSUVOJUJFT GPS BMM DSFEJUPST (secured and unsecured), to have a part, if not all, the money owed them, paid by UIF -JRVJEBUPS Conclusion *O TVNNBSZ * XJMM MJLF UP DMPTF CZ saying that, even though the process of MJRVJEBUJPO PG .4.&T JT BEWBOUBHFPVT *OTPMWFODZ 1SBDUJUJPOFST TIPVME OPU KVTU QJDL MJRVJEBUJPO PWFS SFTUSVDUVSJOH GPS .4.&T without considering the above-stated FDPOPNJD CFOFĂ UT UIF EJTBEWBOUBHFT PG restructuring, the circumstances and the peculiarities of each debtor and the interest PG UIF TUBLFIPMEFST BOE UIFO EFUFSNJOF XIFUIFS UP BEWJDF PO MJRVJEBUJPO PS restructuring. * UIBOL ZPV GPS MJTUFOJOH Mr. Mike Igbokwe, SAN, FCIArb., Principal Partner, Mike Igbokwe (SAN) & Co., Lagos

05.12.2017

THE LIGHTER SIDE/13

LEGAL HUMOUR

We Hold Your Brief TOBI SONIYI Dear Counsel, I must admit that I am amongst the Lagosians who are confused and petrified, about the recent announcement that Lagos State is to commence the prosecution of traffic offenders starting from November 27, 2017. It was announced that, Mobile Courts will now go all over Lagos to try offenders arrested by LASTMA instantly.

Apart from the offence of driving one-way against traffic, I understand that there are many other offences, which carry different penalties. Please, can you itemise or highlight those offences, so that we will be properly informed, and know what to avoid.

E.F., Lekki, Lagos.

Dear E.F., The Lagos State Traffic Laws have always been in place, and have been reviewed a number of times in the past decade or so. The last review being five years ago, although a number of these laws have always been observed in breach.

However, the Lagos State Road Traffic Law 2012 No 4 of 2012, was enacted on August 3, 2010 as a law to provide for Road Traffic Administration and make provisions for Road Traffic and Vehicle Inspection in Lagos State and other connected purposes.

The traffic offences are called strict liability offences, and are meant to be obeyed strictly. Find here, a list of the offences and the penalties.

1 Driving without valid driver’s licence - Impound vehicle 2 Driving by under age 18 years - 30,000.00 fine 3 Driving with fake plate numbers - 30,000.00 , 3 yrs. in prison 4 Driving with forged particulars- 6 months in prison 5 Driving with fake driver’s licence - 6 months in prison 6 Driving without road worthiness - Impound vehicle

7 Driving only yellow 80,000.00 Enforce painting 8 Driving without Hackney permit - Impound vehicle 9 No display of Hackey permit- Impound vehicle 10 Kabu Kabu without permit - Impound vehicle 11 Disobeying LASTMA Office - 30,000.00/Impound vehicle 12 Neglect of Traffic direction light - 3 months in prison 13 Smoking while driving - 30,000.00/Impound vehicle 14 Physical assault of traffic officer- 50,000.00/6 months in prison 15 Driving without full light - 50,000.00 16 Driving with worn out Tyre - 30,000.00 17 Driving without spare Tyre - 30,000.00 18 Driving smoking vehicle - 30,000.00 19 No fire Extinguisher - 30,000.00 20 Broken windscreen - 30,000.00 21 Tinted windscreen - 30,000.00 22 Eating and driving with one hand - 3 months in prison 23 One way driving - 3 years in prison 24 Driving without fastening seat belt - 30,000.00 25 Not painting a commercial vehicle approved colour - 50,000.00 26 No car hire service permit - 1st 20,000.00, 2nd 30,000.00 Impound vehicle 27 Parking on yellow line on any public highway/illegal parking - 1st 20,000.00, subsequent 30,000.00 28 Vehicle crossing double yellow line/centre line - 1st 20,000.00, subsequent 30,000.00 29 Staying within the yellow junction box (offside rule) - 1st 20,000.00, subsequent 30,000.00 30 Failure to yield to right of the way of pedestrian at zebra crossing -1st 20,000.00, subsequent 30,000.00 31 Failure to give way to traffic on the left at a round about - 1st 20,000.00, subsequent 30,000.00 32 Driving on walkway or kerb - impound

What Are Lawyers Good For? They make used car salesmen look good. ˾˾˾ What Do You Call A Lawyer With An IQ Of 50?

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After you die, a leech stops sucking your blood. ˾˾˾ What's The Difference Between A Female Lawyer And A Pitbull Lipstick ˾˾˾ What's The Difference Between A Vacuum Cleaner And A Lawyer On A Motorcycle?

The Vacuum Cleaner has the dirt bag on the inside. ˾˾˾ What Do You Throw To A Drowning Lawyer?

His partners. ˾˾˾ What's The One Thing That Never Works When It's Fixed?

A jury ˾˾˾ What Does A Lawyer Get When You Give Him Viagra?

Taller. ˾˾˾ What's The Difference Between A Lawyer And A Trampoline?

You take off your shoes before you jump on a trampoline. ˾˾˾ What's The Difference Between A Jellyfish And A Lawyer?

One's a spineless, poisonous blob. The other is a form of sea life. ˾˾˾ Why Did God Invent Lawyers?

So that real estate agents would have someone to look down on. ˾˾˾ How Are An Apple And A Lawyer Alike?

They both look good hanging from a tree. ˾˾˾ A lawyer is a person who writes a 10,000 word document and calls it a "brief." (Franz Kafka) ˾˾˾ Two lawyers walked into the office on Monday morning and were talking about their weekends. "I got a dog for my kids this weekend," said one. The other replied - "Good trade."

Army 38: Court Rules Against Buratai, Nigerian Army Upholds Major General Ijioma's Legal Challenge Against Compulsory Retirement Senator Iroegbu in Abuja The National Industrial Court of Nigeria (NICN) sitting in Abuja, has ruled that Major General Ijioma Nwokoro Ijioma has the right to challenge his compulsory retirement from the Nigerian Army after serving for 32 years, 11 months and 5 days.

The trial Judge, Justice Edith Agbakoba, on Wednesday, ruled against the preliminary objection to the suit filed against the Army and the Chief of Army Staff (COAS), Lt-Gen. Tukur Buratai, clearing the way for formal hearing of the case.

To this end, the NICN has fixed February 8, 2018 for hearing, in the legal action instituted by General Ijioma against the Nigerian Army, the Chief of Army Staff and two others.

Ijioma is one of the 38 officers of the Nigerian Army, challenging their forceful retirement, citing injustice, lack of due process, and fair hearing.

The former Chief of Training and Operations (CTOP) in his prayers before the Court in Suit No: NICN/ABJ/262/2016, is seeking for his reinstatement into the Nigerian Army, stating that his compulsory retirement did not follow due process and procedure.

Other Defendants in the suit are Minister of Defence and Chief of Defence Staff- the duo were absent from court.

In her ruling, Justice Agbakoba had after considering submissions of counsel to the Claimant, Godwin Iyinbor of the chambers of Mike Ozekhome, SAN and counsel for the 1st and 4th Respondents, Michael Owolabi said: “General Ijioma has the permission of the court in furtherance of his prayers, to challenge the defendants that he be reinstated back to service on the ground that his compulsory retirement did not follow due process as laid down by the Armed Forces Act for an officer of his status”.

His counsel, Godwin Iyinbor, while responding to journalists on Thursday, said the Judge cannot rely on Section 178 of the Armed Forces Act as advocated by the defence counsel, because

the section does not apply to his client who was not an officer any longer as at the time his letter of retirement was handed over to him.

He said, “the Judge finds out that as at the time he was retired, he was no longer in active service to be called an officer in the true sense of the law”.

Therefore, he said, the Claimant who is challenging the validity of his compulsory retirement from the army after putting in about 33years in service, is expected to present his sole witness before the Court on February 8, to establish his case against the defendants.

Also in his submission before the court, Iyinbor said, “There was no justifiable reason(s) for the claimant’s early compulsory retirement, as he has not attained the mandatory retirement age for Major Generals in the Army, which is 56 years, as he was only 53 years on June 12th, 2016, and had only served for 32 years, 11 months and 5 days, as against the mandatory 35 years’ service and age for retirement as provided for by Rule 020810 of the Federal Government Public Service Rules, which is also applicable to the Military”.

He prayed that the court compel the Respondents jointly and severally, to pay to the him the sum of N1Billion as general, aggravated, punitive and exemplary damages for the unlawful, wrongful, illegal, unconstitutional and oppressive compulsory retirement, and the attendant humiliation, psychological trauma, mental agony and odium caused the Claimant and his family, by the actions of the Respondents.

Ijioma, in his statement of claim, stated that on Friday, June 10th, 2016, while at work, he got a text message from one Lt. Col. S. O. G. Aremu, Staff Officer to the Military Secretary in charge of recruitment, deployment, appointment informing him that the Army Council, which sat on June 9th, 2016, had retired the Claimant.

A letter was conveyed to him to the effect that the Army Council

at its meeting of June 9th, 2016, approved his compulsory retirement from the Nigerian Army, with effect from June 9th, 2016, pursuant to the provisions of Paragraph 09.02c (4) of the Harmonised Terms and Conditions of Service for Officers of the Armed Forces (HTACOS) 2012 (Revised), which provisions are to the effect that his purported compulsory retirement was on disciplinary grounds, i.e., serious offence(s).

Gen. Ijioma further claimed that there was no justifiable reason for the his early compulsory retirement as he had not attained the mandatory retirement age for Major Generals in the Army, which is 56 years, as he was only 53 years by June 12th, 2016, and had only served for 32 years, 11 months and 5 days, as against the mandatory 35 years of service and age for retirement as provided for by Rule 020810 of the Federal Government Public Service Rules, which is also applicable to the Military.

Maj. Gen. Ijioma is, therefore, seeking, among others, the Court’s interpretation of the law as to, “Whether he as a Major General in the Nigerian Army, ought to be tried by a General Court Martial for any alleged offence and cannot be tried summarily, which is a trial reserved for officers of lower rank in the Military.

“Whether the Claimant is entitled to representation by a Counsel of his choice or to defend himself, before any decision for or against his interest could be reached, and whether failure to allow the Claimant’s right to defend himself, amounts to a denial of fair hearing.

“Whether the conduct of the Defendants is illegal, null and void, as the Claimant was never tried in any court of competent jurisdiction and no sentencing or verdict was pronounced against him, and the Army Council never handed the records of proceedings for review or confirmation of any verdict passed on him”.

The presiding Judge in her ruling declared that as at the time the Claimant was retired by the Nigerian Army, he was no longer in active service to be called an officer in the true sense of the word and struck out the preliminary objection brought by the Nigerian Army Council.

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05.12.2017

Moving Past Worn Rhetoric: Why CJN Needs to Declare ‘State of Emergency’ in the Judiciary This Article by Joseph Otteh and Dr. Adenike Aiyedun, is calling for a declaration of a 'State of Emergency' in the Nigerian Judiciary. It discusses extensively, the need for Judicial Reform, with their nine-point agenda to implement the required reforms

A

Overhaul Nigeria's Judiciary t 57, Nigeria’s Judiciary ought to have been a stable, strong and vibrant branch of government. But it is arguably not at this time, and a once proud institution now lives in the shadows of its past as it struggles to save a remnant of its tortured legacy. This must be time for sober reflection. But our Chief Justice, Walter Onnoghen, has assured us that the Judiciary will live up to expectation and promises, and it will no longer be business as usual. Our fear, however, and we say this respectfully, is that that language is all too familiar, but more than that, that the actions we have seen so far, are too little, and the time being spent to incubate more changes, are too “business as usual”, to deliver the results we need. We think that more can be done and should be done, to overhaul Nigeria’s Judiciary and make it serve Nigeria in ways that meet public expectations of a truly independent institution, that is confident of the integrity of its members, as well as enjoys the confidence of the people it serves.

Time is of the Essence Nigerians want to see more judicial reforms, executed with more speed and more urgency; we need more traction and more resoluteness, applied to the fight to transform the delivery of justice in Nigeria. We are constrained to worry that the current speed and pace of reforms, is not strong and vibrant enough and not creating the kind of momentum and impetus Nigerians are eager to see, neither is it galvanising change across the landscape, or demanding change from every constituent part of the Judiciary.

Undoubtedly, the Chief Justice of Nigeria has a zeal to reform the Judiciary, but stakeholders in the justice system are not feeling the impact just yet. The Judiciary does not have the luxury of time, to enable it stretch a reforms plan over the course of many years, and for an institution in distress, it ought not take too much time either for far-reaching changes to be delivered.

We can look at other African countries to see how their own Judiciaries were revived, and particularly look to Kenya whose Judiciary was the object of much ridicule before 2011.

After Chief Justice Willy Mutunga took over as Chief Justice in 2011, he embarked on a far- reaching programme of action to reform the Judiciary; Chief Justice Mutunga did not achieve all his reforms in one day, but he hit the ground running, and succeeded in overhauling a once- maligned institution into a respectable voice of the rule of law and a strong pillar of democracy in Kenya now. Only recently, the Kenyan Supreme Court annulled the just concluded elections and ordered an immediate re-run, as a testament that things are no longer the same in Kenya. It is time to acknowledge that the delivery of justice services in Nigeria

Chief Justice of Nigeria, Hon. Justice Walter Onnoghen

is in dire straits, and nothing short of radical “tremors” can revive it back to health. We therefore, urge the Chief Justice of Nigeria to declare a state of emergency in the Nigerian Judiciary now! This will provide a rallying urgency to the change we passionately want now, not later.

There are a number of reforms that may take some time to implement and produce an impact, but there are also others that do not need a long time to berth; they can, and should indeed be initiated now, and where that is done, they can change the dynamics on the ground in remarkable ways. For example, Court delays, at both trial and appellate levels, are not inevitable, and human factors (more than the inherent features of trial dockets), contribute to the prolongation of trials in our courts. There are steps that can address these causes of delays immediately, and we have outlined some below. It behoves the Judiciary, therefore, and we urge the Chief Justice of Nigeria and the National Judicial Council (NJC), to adopt a three phase reform plan that will include programmes to be implemented in the short, medium and the long terms.

A Nine-Point Agenda for Reforms We urge the Judiciary to do the following immediately: Reducing Court Delays 1.The NJC, should end arbitrary court closures NOW. Many Judges often leave their primary adjudicative assignments, to attend non- adjudicative, ceremonial functions, as it happened in the Federal High Court a few days ago when its Judges left their courts to attend the valedictory ceremony of the out-gone Chief Judge of the Court, Justice Ibrahim Auta. These “no-shows” have huge costs implications on everyone – litigants, lawyers and witnesses (some of whom may have travelled long distances to be in court).

They also cause terrible delays in the hearing of cases, thereby creating frustrations for many court users, congestion of dockets, while they diminish public confidence in the administration of justice. Alternative schedules, can be found for non- adjudicatory functions.

2. End the practice of transferring Judges from one jurisdiction to another, before their

cases are concluded. Judge transfers take a huge toll on the time for completing cases, and entail many cases starting afresh even where they may have been pending in court for many years, and are nearing completion.

3. Judges’ vacation time should also be reviewed. The Chief Justice said Chief Judges of States, have been directed to create special anti- corruption courts. But if Judges of these courts have to be away for about 3 months each year, not counting other “no-show” days, we may not see the expected changes in the time taken to conclude corruption cases. Judges handling anti- corruption cases should not go on extended, court wide holidays as other Judges, but arrange their own individual vacation schedules. There are countries that already do this. This will give a ring of urgency to the anti-corruption struggle, and the role of courts in that achieving that goal.

To Combat Corruption and Strengthen Judicial Integrity, Transparency and Accountability 4. The NJC’s Judicial Discipline Regulations 2014 should be reviewed and strengthened now, to enable the Judiciary better fight corruption.

The review should enable the NJC, act on anonymous complaints, protect whistle-blowers, collaborate with official anti-corruption agencies, to investigate allegations of corruption and reduce the overbearing evidentiary burdens placed on complainants of corruption, among other reforms.

5. The complaints systems of all courts - lower courts and superior courts - should be effective, robust and dependable. Corruption is a problem in lower courts nationwide, but many States do not have a credible or effective system for fighting corruption in their jurisdictions. The NJC should immediately direct heads of courts in State and Federal jurisdictions, to establish effective disciplinary regulations or guidelines applicable to lower court “Judges” and court staff, and get engaged more robustly in efforts to stamp out corruption from lower courts.

6. Develop a financial disclosure reporting system - used in some jurisdictions where all extrajudicial payments to Judges are self-reported, and Judges submit periodic financial disclosure reports.

"THE NJC, SHOULD END ARBITRARY COURT CLOSURES NOW. MANY JUDGES OFTEN LEAVE THEIR PRIMARY ADJUDICATIVE ASSIGNMENTS, TO ATTEND NON-ADJUDICATIVE, CEREMONIAL FUNCTIONS, AS IT HAPPENED IN THE FEDERAL HIGH COURT A FEW DAYS AGO WHEN ITS JUDGES LEFT THEIR COURTS TO ATTEND THE VALEDICTORY CEREMONY OF THE OUTGONE CHIEF JUDGE OF THE COURT, JUSTICE IBRAHIM AUTA. THESE “NO-SHOWS” HAVE HUGE COSTS IMPLICATIONS ON EVERYONE – LITIGANTS, LAWYERS AND WITNESSES..."

Institutional Reforms 7. The NJC has, on occasion, looked away when the judicial appointment guidelines it made were flouted and sidelined. The Judicial Appointment Guidelines of 2014, were intended to strengthen the procedures for appointing Judges, and ensure that we recruit judges from the top drawer. Both the NJC as well as States and Federal Judiciaries, have flouted the letters and spirit of the Guidelines since they were made. The NJC must henceforth, stick to its own rules and not aid their subversion, as well as insist that judicial appointments to lower courts ensure that the best stock is selected, and that States develop judicial appointment guidelines that are transparent, competitive and merit-based. (This duty should be imposed on Chief Judges, as part of their administrative responsibilities of heading courts for which they are accountable to the NJC, while measures to ensure compliance are put in place). We must adopt a bottom-up approach, which requires appointing the best qualified people regardless of ethnicity, language and creed, as well as encourage broader public participation in the screening process of Superior Court Judges.

8. The Judiciary Needs to Build Consensus Around a Vision Statement: The Judiciary should bring stakeholders together, to develop a strategic reforms framework and plan, Now. The plan will represent the Judiciary’s vision of how justice services should be restructured in States and Federal jurisdictions, from this time onward. The strategic plan will thereafter, form the fulcrum of our march forward. The implementation of that Strategic Plan, would be benchmarked against clear indices that will be used to measure progress. The Hon. Chief Justice, should create a mechanism to drive the realisation of that vision, and develop principles and measures of accountability across State and Federal lines. This is how a number of Judiciaries around the world, including some African judiciaries - Kenya, Uganda, Malawi, Rwanda, Tanzania, Swaziland and South Africa - have propelled their judiciaries, to deliver change.

9. Finally, to restore public confidence in the Nigerian Judiciary, reforms must target all courts and their leadership administration/management.

The NJC, should use its constitutional powers to make broad policy to integrate States into a nationwide programme of justice reform, as well as provide the inspiration for the buy-ins of States.

Conclusion We agree with the Chief Justice of Nigeria, that things should no longer be ‘business as usual’ within the Judiciary, but think that a lot more can and should be done now, to enable Nigerians see and feel that business no longer thrives as usual in our courts. We may be losing time and momentum, in not seizing this opportunity to drive significant changes through. The time to act is now.

Joseph Otteh and Dr. Adenike Aiyedun, Directors, Access to Justice

05.12.2017

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Azinge’s Journal of International and Comparative Law Book Review Title:

Azinge, E.,(ed.), Azinge’s Journal of International and Comparative Law (Maiden Edition) (Epiphany Azinge Foundation, 2017)

Number of Pages:

267

Number of Articles: 6 Name of Reviewer:

I

Osatohanmwen O.A Eruaga (Mrs.)

n an era where the world has become so interlinked, that States are influenced by activities of other States, avenues for scholarly critique and analysis of comparative and international law can never be too much. The maiden edition of Azinge’s Journal of International and Comparative Law, entirely inspired and initiated by an erudite scholar of no mean repute, provides a platform to interrogate legal experiences and practices from various climes.

Mathias Zechariah and C.BN Wuyep provide the first article titled ‘Applicability of Customary International Law and Treaty Law in Municipal Setting: Nigerian and USA in Comparative Perspectives’. The authors using a doctrinal approach, undertook a comparative study of Nigeria and the United States of America, with respect to the applicability of rules of treaty and customary international law, to determine whether and to what extent, the States respect the treaty and customary international law rules that bind them as members of the international community. The authors showcase their in- depth knowledge by considering first, the nature of the relationship between municipal and international law. This is followed by an analysis of the law and practice in the selected States. The authors find that both countries, in trying to strike a balance between their respective sovereign rights and international obligations, constantly practice subject international law to their municipal law. They recommend that rather than pay lip service to responsibilities undertaken in international law and undermine its effectiveness, the States should clearly define the place of international law in their legal system.

Kamal Alhaji Dawud’s ‘Comparative Analysis of the Models of Selected Federal Government’ which is the second article in the Journal, examined common characteristics of countries that are identified as Federations. Conducting a comparative analysis of seven States including Nigeria, he argues that there is no single general mode of a Federal system. For him, federalism is an on-going process of constantly finding a new equilibrium between the Centre and its member States or sub-units. However, based on the common features that are globally recognised, the author recommends a combination of what is obtainable under the Swiss and American Federal system for Nigeria.

In the third article, Sunday Bontour Lugard addresses ‘The Emerging Global Rights- based Approach to Environmental Protection’. The article which is straight forward, first examines the current tort regime for environmental protection in Nigeria. He identifies that the tort regime comes with numerous challenges, which makes it largely inadequate. Following a comparative analysis of environmental protection regimes under international law, regional treaties and in other climes, the author argues that the adoption of the rights based approach, represents the prevailing global trend. As such, the author recom-

mends adopting same in Nigeria.

Nkiruka Chidia Maduekwe carefully scrutinises the viability or otherwise, of utilising environmental mediation to achieve conflict resolution in the Nigerian Petroleum Industry, in the fourth article titled ‘Ensuring Energy Security in the Nigerian Petroleum Sector: Is Environmental Mediation a viable tool?’ The article, before discussing environmental mediation as a tool for conflict resolution generally, explains the meaning as well as importance of energy security and stability. The article further examines the scope of the Niger Delta Conflict, and how it influences energy security and stability in Nigeria, so as to highlight the need for a tool that would ensure sustained resolution of conflict. She makes a connect between environmental mediation as a tool for conflict resolution of environmental disputes in Nigeria, when she states that parties are empowered to take responsibility for resolving the dispute, which means that the outcome is owned by the parties. The author finds that if all stakeholders in the incessant conflicts, present their interests with the aim of creating a solution to the conflict, energy security and stability will be achieved in the Nigerian Petroleum Industry.

The freedom to access information has become a front burner issue in Nigeria in recent times, as individuals, non-governmental organisations and public institutions function within the milieu that the Freedom of Information Act creates.

Emmanuella Ngozi Maduka, deals with the subject-matter of access to information in the fifth article titled ‘The Freedom of Information Act and Sectorial Responsibilities: An Appraisal.’ In reviewing the obligations placed on public institutions which she terms sectorial responsibilities, the author highlights logistic and practical challenges impeding the effective implementation of freedom of information by public institutions in Nigeria. She maintains that a viable freedom of information culture in Nigeria, would only be viable if the logistic and practical challenges which she highlights are reviewed to reflect the unique circumstances that public institutions in Nigeria face.

The last but certainly by no means the least in the display of legal scholarship, is the article written by Mahmud Kayode Adebayo titled ‘Rape as an International Weapon of War: The Human Rights Approach in Nigeria and Some selected Jurisdictions’. In this article, the writer scrutinises the function of rape as a tool in modern warfare.

Noting that the idea of rape as a weapon of

warfare, has a distinctly feminist heritage, the author identifies that the reason why the gruesome act has assumed the status of a warfare instrument, is unclear.

However, he goes on to isolate several reasons that are averse to tackling rape as a weapon of war. He identifies that, the effect of rape as a weapon of war, has long lasting scars on the individual, families and the community. He suggests specifically amongst his numerous recommendations, that rape which occurs in war, should be rephrased as an offence against humanity.

Comments The book is neatly clothed in a blue cover, with the title written in white coloured ink. The Two Hundred and Sixty-seven (267) paged book, is divided into six articles each written by individual writers. Professor Epiphany Azinge, SAN, serves as the editor-in- chief, supported by a seven-man editorial committee. The Journal reveals that the editorial team, receives advice from an Editorial Advisory Board consisting of erudite Nigerian jurists with undisputed knowledge in

"THE ARTICLES IN THE MAIDEN EDITION OF AZINGE’S JOURNAL OF COMPARATIVE AND INTERNATIONAL LAW, EMPLOY THE USE OF NARRATIVE, ANALYTICAL AND EXPOSITORY METHODOLOGIES. THE ARTICLES AUTHORED

BY THE SIX SCHOLARS EMBODIES A COMBINATION OF EXPERT REASONING IN THE VARIOUS ARTICLES, AND THE CONSISTENCY IN THE CONSORTIUM OF IDEAS BY THE WRITERS IS WORTHY OF COMMENDATION"

international law.

The articles in the maiden edition of Azinge’s Journal of Comparative and International Law, employ the use of narrative, analytical and expository methodologies. The articles authored by the six scholars embodies a combination of expert reasoning in the various articles, and the consistency in the consortium of ideas by the writers is worthy of commendation.

It fulfils the promises made by the Editor-inChief in the preface, to provide a platform for the dissemination of legal developments in various jurisdictions, while comparing same with the development in other parts of the world.

Observations The articles in this maiden edition, generally live up to the title of the journal as one of international and comparative law. However, a few articles lacked in-depth discussions on the titles they sought to interrogate. For instance ‘Rape as an International Weapon of War: The Human Rights Approach in Nigeria and Some selected Jurisdictions, does not in the reviewer’s view, adequately address the laws, municipal and international, relevant to discussing rape as a weapon of war. Also, ‘The Freedom of Information Act and Sectorial Responsibilities: An Appraisal’, does not give adequate scrutiny to the UK law, even though it is stated as an objective of the paper However, other articles make up for any perceived deficiency, by the sheer brilliance with which they were addressed.

The Journal as a whole, is compelling as a platform for cross pollination of ideas in legal scholarship. The content of the maiden edition of the Journal, without a doubt, presents as very enlightening and informative literature.

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05.12.2017

SENATE RANGER!

T H I S D AY ˾ TUESDAY, DECEMBER 5, 2017

16

POLITICS

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

EXECUTIVE BRIEFING

PDP in Make or Mar Convention Next Saturday’s national convention of the Peoples Democratic Party will determine the party’s preparedness to take back power from the All Progressives Congress in 2019, Davidson Iriekpen writes

I

n the next four days, the Peoples Democratic Party (PDP) will hold its national convention that many observers believe will either make or mar the party as it prepares for the 2019 elections.

As the day draws closer, one major question that keeps recurring is whether the party has been able to conquer the ghost of acrimonious leadership selection.

So far, a lot of concerns have been raised as to whether the party can take its best foot forward in managing its affairs and perform its new status as the main opposition party.

Part of the fear is whether the culture of imposition; impunity and cronyism is still endemic in the party. Most of those who show sedate interest in PDP’s ability to manage its affairs in the best of democratic tradition, point to why it lost the presidential election and the emergence of the stop-gap national chairman, Ali Modu Sheriff.

This is why many party leaders have said the elective primaries of the party would determine its fortunes in 2019, including whether or not it would be taken seriously by the electorate.

Even though there are other positions for grab during the convention, that of the national chairman, is obviously the most important position. As at last count, the aspirants contesting for the position are former deputy national chairman of the party, Bode George; former Minister of Education, Tunde Adeniran; media mogul Raymond Dokpesi; former PDP governorship aspirant in Lagos State, Jimi Agbaje; ex-governor of Oyo State Rashidi Ladoja; former deputy national chairman, Uche Secondus; former governor of Ogun State, Gbenga Daniel and former Minister of Youths and Sports, Taoheed Adedoja.

While many party faithful in the South-west have urged stakeholders to ensure a candidate from the region emerge as the national chairman for the first time to avoid the death of the party in the zone, others feel that since the position was zoned to the entire South, others should to allowed to contest especially since the party won more states in the South-south and South-east.

Though observers had thought that the PDP being very strong in the South-south and the South-east, would need to woo the South-west with the chairmanship position in order not to create another crisis, many others feel that the party needs a zone where it is very strong and where there is no crisis and later woo the South-west with political appointments.

Meanwhile, while Daniel, Adeniran, Dokpesi, Ladoja and Adedoja feel that they have all it take to lead the party, observers feel that the duo of George and Secondus clearly stand out. This is because they are regarded as party men, having from inception of the party in 1998, been involved in managing its affairs.

While George rose to the position of deputy national chairman of the party at a point, Secondus started cutting his leadership teeth in the party from the state level and rose to become deputy national chairman and acting national chairman.

This is why many pundits feel that if anybody is best qualified for the job right now, he should be the one. Besides, unlike George who many observers feel might not have the strength and stamina to effectively drive the affairs of the party due to his age, Secondus is considered younger, experienced, vibrant and strong. Besides, George was said to have refused to sign the peace accord titled: ‘National chairmanship aspirants accord on prevention of violence and acceptance of election result at the elective national convention,’ signifying that should he lose the election, he might support whoever emerges.

According to the pact, the aspirants agreed among other agreements to support whoever

Secondus

emerges among them as the national chairman of the great party as long as the process is transparent, free and fair in accordance with the provisions of the constitution of the party and guidelines of the elective national convention; no aspirant shall leave the party or encourage his or her supporters, promoters etc to do so, as a result of the outcome of the national chairmanship election at the elective national convention.

With the signing of the pact, hopes were high that a rancour-free convention was in the offing.

But allegations that Makarfi is working for the imposition of an aspirant was also making the round with Adeniran threatening to pull out of the peace pact. George on his part, has called for the resignation of the Chairman of the National Caretaker Committee (NCC) of the party, Senator Ahmed Makarfi. Adeniran accused the party’s leadership of aiding moves to impose Secondus on the party ahead of the December 9 national convention.

Specifically, he accused the Makarfi-led NCC of tilting the composition of ward and congress committees in favour of loyalists of Secondus.

Speaking through the Director General of his Campaign Organisation, Shehu Gabam, Adeniran further threatened to pull out of the peace accord in the face of the unfolding events. He recalled that they warned against the impunity and imposition which led to the emergence of Sheriff and culminated in a 14-month long crisis that almost crumbled the party.

As the day draws closer, one major question that keeps recurring is whether the party has been able to conquer the ghost of acrimonious leadership selection

On his part, George called for the resignation of Makarfi ahead of the party’s national convention. Speaking through the Director General of his campaign organisation, Ibrahim Aliu, he added that an alleged 2019 presidential ambition of Makarfi had affected his ability to conduct free, fair and transparent convention.

George alleged that spurred by personal ambition of contesting for the presidential office in 2019, Makarfi was brazenly allying with a particular aspirant in the South-south to deliberately distort the process, muddle equity and invariably destroy the democratic process for transient personal gains.

But Secondus has disclaimed insinuations that he was an anointed candidate of the party leadership and by extension the governors.

He also stressed that at no time was the national chairmanship position micro-zoned to South-west geo-political zone by stakeholders from the zone. He added that the position was zoned to the 17 states in the south, same way the presidential ticket of the PDP for 2019 polls was zoned to the 19 states in the north.

Secondus further clarified that he didn’t bother to contest for national chairman at the botched national convention last year in Port Harcourt, because party leaders from the South micro-zoned it to the South-west.

He explained that he had been a party man from the very beginning and that he was the only aspirant who has had the privilege of serving the party at the highest level as acting national chairman. He said he consulted with party elders in his state and his zone as well as other zones and came to the conclusion that he had “what it takes to restore the party to its pride of place especially as Nigeria approaches another election cycle in 2019.”

While Makarfi has denied claims of nursing a presidential ambition, the party was forced to break its silence on the issue as the allegations got hotter and messier.

Dayo Adeyeye, national publicity secretary of the party, while briefing the press denied that the national caretaker committee took nominations from any aspirant to serve as members in committees for ward congress.

Rather than accuse Makarfi of any plot, observers have blamed the South-west for not reaching any agreement on a consensus candidate. They feel that one advantage

Secondus would have over the South-west, is that fact while the zone has six candidates whose votes would be shared, the South-south has two with the favourite candidate being Secondus. It is for this reason that a former National Vice Chairman of the party, Southwest, Chief Ishola Filani, has warned that the convention would either make or mar the future of the party. He urged stakeholders to ensure a candidate from the South-west emerged as the national chairman of the party for the first time to avoid the death of the party in the zone.

Filani stated that the national chairmanship position had been zoned to the South-west in the May 2016 National Convention, wondered why some interest groups were working against the agreement by supporting South-south’s candidacy.

He said: “PDP national chairmanship has not been occupied by the South-west while every other geopolitical zone had occupied it. We discover of late that our brothers in the South-south said they want to contest the national chairmanship. We want to appeal to our brothers that the South-west will support the South-east to grab the vice presidency zoned to the South.

But the Oodua PDP Alliance drummed support for Secondus and called on the South-west to drop the bid for the party leadership. The group which claimed to have members across the six south-western-states, announced its resolve to mobilise the Yoruba axis of the PDP for Secondus, describing the Rivers State politician as tested, experienced and competent to lead the party.

In a statement signed by the leader of the group who is also a leader of PDP in Osun State, Hakeem Ogunsola, the group affirmed that South-west has proved its unpreparedness for the party leadership, affirming that “the leadership should go to South-south, the main base of the PDP. “We want to note that rebuilding the PDP and winning power back in 2019 demand a chairman with solid home base, deep experience and capacity to face the power of incumbency. We need Prince Secondus to lead this electoral and political battles to rescue Nigeria and change the fake change,” the statement noted. While condemning the discordant and rancorous competition among South-west chairmanship aspirants, the group said: “South-west does not need party chairmanship. If anything we should rally round Secondus and seek better offer in arrangement of national offices.

“How can you be going for chairmanship when there are better bargaining to strike?

How can you hope to lead the party when your zone is not a stronghold of the PDP? How can you even be taken seriously when many of your aspirants carry heavy baggage?

We don’t want party chairman in South-west.

Let Secondus have it,” the group opined.

In the same vein, a former Commissioner for Transport in Rivers State, Chief Emeh Glory Emeh, said Secondus stood far taller among the aspirants jostling for the chairmanship position of the PDP. He said apart from experience, Secondus has been tried and tested the party’s administration over time.

He added that the campaign of calumny against him at the moment was an afterthought by members of the All Progressives Congress (APC)-led federal government who were afraid of his political engineering to return the party to power in 2019.

No matter the disagreement now, the anticipation by most party members and political commentators is that the party holds a free, fair and credible exercise, wean itself off internal wrangling and be in a position to play its role as a viable opposition party in the country.

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T H I S D AY Ëž TUESDAY, DECEMBER 5, 2017

POLITICS

In Kwara, PDP Struggles to Make Its Presence Felt Although it failed to win any chairmanship seat during the last local government elections in Kwara State, the Peoples Democratic Party used the opportunity to send a clear signal: it was ready to challenge the status quo in the state in 2019, writes Hammed Shittu

T

he just concluded local government councils poll in Kwara State has come and gone. The poll has produced the elected councillors and chairmen for all the 16 local government councils in the state.

The emergence of these councillors and chairmen has now brought a new ray of hope to the people of the grassroots who had for long agitated for the enthronement of elected representatives at the local level of governance in the state.

The election was held in peaceful atmosphere across the state except in Lafiaji town in Edu Local Government Area of the state where there was crisis as irate youths of the town protested against the alleged poor representation of the senator representing Kwara North Senatorial District at the National Assembly, Senator Shaaba Lafiaji who also hails from the town. The youths were said to be angry with Lafiaji over his refusal to construct a culvert that would lead to the town despite series of overtures made to him in this regard.

Consequently, these angry youths prevented the senator from entering the town a day to the local government council poll. During the melee that followed, five persons were killed while the palatial house of the senator in the town was burnt down. The men of the state police command have begun investigations into the act. The ugly development however, prevented the conduct of the poll in the town which has two wards. The state electoral body has said that the poll would be conducted as soon as peace returns to the area.

Prior to the conduct of the election, various political parties about 37 of them signified their intention to participate in the election.

They went ahead to field candidates for both the councillorship and chairmanship positions in all the 16 local government councils. During the campaign, they all went out and moved across all the 109 wards and councils headquarters canvassing for votes and mobilising the people to vote for them.

They all promised good governance at the grass roots and good representation that would transform the rural communities into a viable economic prosperity. The campaigns came to an end two days to the election in line with the rules and guidelines that guided the conduct of the local government elections in the state.

Also, to make the council poll violence-free and peaceful atmosphere, about 4,000 men of the state police command were deployed across the 16 local government councils. This is in addition to the deployment of civil defence corps and other military personnel that helped to maintain peace during the election.

Before the election, the state police command Public Relations Officer, Mr. Ajayi Okasanmi spoke with our correspondent. He said that the police were fully ready for the poll. He said the police were fully set to ensure a hitch free councils poll in the state. He however warned that, the state police command would not condone any act capable of threatening the peaceful conduct of the poll.

Also, the state governor, Alhaji Abdulfatah Ahmed held a security meeting with all the members of the security council in the state to esnure that adequate security was provided to voters during the poll.

Ahmed said that, the move was to ensure that the council election held without any hitch.

The security agencies in attendance at the security meeting with the governor included Nigeria Police Force, Nigerian Army, Nigerian Security and Civil Defence Corps and Nigeria Air Force.

The political parties also signed a peace pact with the state independent electoral commission and security agencies promising to ensure that their members conduct themselves peacefully during the elections.

As early as 9.00 a.m on the day of the elections, voters were seen, trooping out

Gov. Ahmed

enmasse to be part of the election. They came out in large numbers to cast their votes for the candidates of their choice so as to bring needed socio economic growth to the people of the grassroots. Most of the polling units visited on that day showed the presence of security agents and other security agencies, protecting voters that came out to exercise

Following the announcement of the election results, scores of members of the PDP in the state staged a peaceful protest over the conduct and outcome of the poll

their franchise The Senate President, Senator Bukola Saraki arrived his polling unit, Ode-Opobiyi polling unit around 2.p.m and cast his vote He described the poll as peaceful and the turn-out of the voters as unprecedented in the political history of the state.

The state governor, Alhaji Abdulfatah Ahmed cast his vote at Aponbiepo polling centre, Share in Ifelodun Local Government Area of the state.

An All Progressives Congress ( APC) chieftain, Alhaji Abubakar Kawu Baraje voted at a polling centre in Baboko in Ilorin West Local Council Area.

The Speaker of the state house of assembly, Mr Ali Ahmad also cast his vote at his Balogun Fulani Ward 3. He expressed satisfaction over the conduct of the poll.

The National Publicity Secretary of APC, Mallam Bolaji Abdullahi also voted at his Ubadanwaki ward, commended the state Independent electoral body for providing a level playing ground for the election.

However, announcing the results of the election, the state chairman of the independent electoral commission, Dr. Uthman Ajidagaba declared chairmanship candidates of the All Progressives Congress ( APC) winners of the council elections in all the 16 local government

areas of the state He also announced that, the APC won 181 councilloship seats while the Peoples Democratic Party ( PDP) won 8.

He said that 4 councillorship seats were inconclusive in Ilorin West, Moro and Edu local government areas.

Following the announcement of the election results, scores of members of the PDP in the state staged a peaceful protest over the conduct and outcome of the poll.

The aggrieved party members alleged that, the elections were marred with manipulations, fraud and other electoral malpractices in all the 193 wards and 16 local government councils.

The state chairman of PDP Chief Iyiola Oyedepo who spoke at a press conference in Ilorin displayed scores of ballot papers seized from members of APC across the state which he alleged were used to rig . He said that some of the political leaders were defeated at their polling units.

Oyedepo, who called for the release of his members from police detention said his party did not believe in the results announced

by KWASIEC adding that the party with its outstanding performance had made strong statement ahead of the 2019 elections.

He said the opposition members were battle ready to unseat the present government in 2019 elections adding that the outcome of the local governments elections which would further be improved on, were testimonies to that fact.

However, the Secretary to the State Government , Alhaji Isiaka Gold, in a statement condemned the protests and called on all citizens and residents of the state to remain calm and law abiding and accept the results of the elections The state government commended the peaceful conduct of the local government elections and urged all law abiding citizens to abide by the release of the official results of the elections.

Also,the state police command in a statement by its spokesperson, urged parents and guardians to caution their wards against being involved in any unlawful protest.

While urging law abiding citizens to go about their normal activities without fear, he said security agencies were on standby to forestall any threat to public peace no matter the intentions or identity of those behind such actions.

Meanwhile, about 54 people were later paraded by the state police command for the protest against the conduct and outcome of the election.

The defeat of some of the leaders of the ruling APC in the state at their various polling units by the opposition, PDP, has continued to unsettle the leadership of the party in the state.

The leadership of the APC was said to be disturbed despite the fact that it made adequate resources available for the election.

The outcome of the poll has also brought about a serious political dimension in the state in view of the perceived rejuvenation of the opposition PDP. The party has been able to spring surprises in some of the wards across the state in view of the performances of the PDP during the election despite the fact that the party remained factionalized in the state. Many believe that the party would have done better if there had been a level-playing field for the political parties.

The performances of the party has led to the defeat of some leaders of the ruling APC in their wards especially in some local government council like llorin West, Ilorin East, Baruten, Kaima, Oke-Ero, Isin among others.

By and large, the leadership of the APC will have to return to the drawing board ahead of the 2019 general elections because the local government elections showed that the PDP was poised to give the ruling APC a run for its money in future elections.

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TUESDAY, DECEMBER 5, 2017 ˾ T H I S D AY

FEATURES

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

A Bloody Convention Emmanuel Addeh, in this piece, examines the violence and bloodshed that occasioned the National Association of Nigerian Students zonal convention in Otuoke, Bayelsa State last week

Late Elvis Magam...murdered in cold blood

I

t was supposed to be a routine exercise during which students from tertiary institutions in the South-south region gather to periodically elect their representatives who would oversee their welfare and other related activities for a given number of years. But last week’s meeting which took place from 25-26 of November turned out differently: it ended in sorrows, tears and blood, to borrow from the lyrics of a song by late Afrobeat legend, Fela Anikulapo Kuti.

Not only did the students kill and maim, they also allegedly kidnapped, robbed, and tortured some of their victims, including non-students.

The participants in the imbroglio were fully armed and spoilt for war, despite arrangements made by all the security agencies in the state to avert violence.

A day before the event, the Amba Asuquoled Bayelsa Police Command had had series of meetings with the students and sister security agencies to ensure the peaceful conduct of the students' polls, yet none of the words of caution mattered when the trouble started.

Indeed the Vice Chancellor of the institution, Prof. Seth Jaja, had before registration of delegates commenced, personally addressed the participants, pleading with them to be of good behaviour before retiring to his office.

The settings were the young Federal University, Otuoke and Yenagoa, the state capital While some of the students, especially those from Uyo in Akwa Ibom were preparing for a gun duel with another faction from the same university, the leadership of the students’ body in Bayelsa was busy hijacking commercial vehicles and dispossessing the occupants of their belongings.

What turned out to be a total mess was supposedly meant to be the zonal election of the National Association of Nigerian Students (NANS), yet it was not just that the event ended in chaos, it also led to the arrest of several students, most of them in their final year.

In the aftermath of the bloody encounter,

Elvis...playing snooker game

the police said that they had arrested 15 of the suspects, including the President of the students' body in Bayelsa, Perewari Benjamin who led the team that attacked the commercial bus drivers and took away their valuables.

Police said they recovered arms and ammunition from the suspects, including two locally-made single-barrelled pistol; two live ammunition; five 9mm live ammunition and charms, some of them found in a vehicle whose occupants were led by one Gabriel Duff, the Students Union Government President of the University of Uyo. He’s still being held by the police.

Aside the shooting and eventual killing of one Elvis Magam, a University of Uyo student who was participating in the event, one Tonye Samuel, a student of the University of Port Harcourt, Rivers State, was also shot and severely wounded.

Some of the suspects also hijacked three buses at gunpoint which they hired from Ammasoma Park in Biogbolo, Yenagoa, to take them to the venue in Otuoke, seriously injuring the drivers and dispossessing them

Aside the shooting and eventual killing of one Elvis Magam, a University of Uyo student who was participating in the event, one Tonye Samuel, a student of the University of Port Harcourt, Rivers State, was also shot and severely wounded

of their belongings.

The police added that two factions of the students' body came in from UNIUYO, noting that some of the students who were arrested were already under serious reprimand and had promised to be of good behaviour before the incident.

Commissioner of Police in the state, Asuquo said that Akpan Esuabanga, Aaron Wisdom, Gabriel, Etefia Otobong, Akwaoso Uwankmfon, all from UNIUYO, were among those arrested in connection with the attempted murder.

He listed the three other suspects connected with the murder on the school campus as Emmanuel Ebere, Okon Ben and Obiakarije Innocent, noting that the remains of the deceased had been deposited at the morgue.

Those who hijacked the buses and injured the drivers, he said, were Asari Enagob, Suoguai Bina, Ibe Ogbonna, Igbanibo Tari, Ekperi Kenneth, Kemefie Ebimene and Chukwuma Lawrence, most of them final year students of the Niger Delta University, Amassoma in Southern Ijaw local council.

The CP noted that despite the deployment of 11 patrol teams in collaboration with the army, civil defence, the vigilante group in Otuoke and the university's internal security, the students still went on a shooting spree, leading to a breach of the peace.

“It is disheartening to note these events which occurred at the zone 'B' election for coordinators of NANS, at the Federal University, Otuoke where the students representing universities and higher institutions in the South-south degenerated to the use of firearms,” he said.

A victim of the violence who was among the drivers whose vehicles were hijacked, Ayoola Kehinde, an indigene of Modakeke in Osun State, said around 10a.m. on Saturday, the day of the election, four of the students hired buses from him at Amassoma Motor Park.

“Four of the students came to Amassoma Park on Saturday, around 10 am and said they needed three buses. We agreed for N8,000 per bus. When they boarded the

buses, they said they wanted to pick some persons from Biogbolo.

“When we got there (Biogbolo), they said there were some persons at Ebis they wanted to pick. By the time we got to Ebis, we picked some persons.

“After that, I asked them to pay my money.

They said their boss was on Isaac Boro Expressway and that when we got there, they would pay. By the time we got there, we did not see anybody. They said their boss was in the Aritalin area. It was then I told them I was not going to Aritalin.

“One of them said I was talking rubbish and he slapped me. As he slapped me, others joined him and they started beating me and my brothers. One of them dipped his hand into my pocket and took the N50,000 I wanted to send to my wife in Lagos to pay my children’s school fees.

“He took the money and my ATM card, phone and seized my vehicle key. One of them brought out a gun and used the butt to hit my head,” Kehinde said.

According to him, as blood gushed out of his head, the students left with his brother, whom they forced to drive them before he sighted a patrol van of operatives of the State Anti-Robbery Squad approaching.

The security operatives reportedly trailed the suspects before they were rounded up and taken to the police headquarters.

However, the incident has also drawn the attention of the Ijaw Youth Council (IYC) Worldwide, who condemned the killing of a final year law student in Otuoke.

The Chairman of IYC, Central Zone, Mr. Tari Porri, said the council would not allow anybody to destabilise the existing peace in the zone, which covers Bayelsa and parts of Rivers State.

He frowned at the trend of students bearing arms in the name of cultism, describing the violence in the NANS election as an aberration and embarrassment to the real essence of education..

“The IYC under my leadership in this zone will not tolerate activities relating to cult wars or inter-communal crisis. We will not tolerate anybody coming to disturb the

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FEATURES

The suspects paraded by the Police and their bus in which weapons were recovered

already existing peace in the state. “If anyone is found wanting, we will mobilise the entire law-abiding Ijaw youths against the person. Youths should be law-abiding. They should not partake in organisations that will not bring honour to the state or organisation that will bring disrepute to the Ijaw land.�

While advising the youths to identify with meaningful ventures that would bring joy and progress to the Ijaw nation, Porri, said no election was worth the life of any youth. “We are appealing to the entire youths in the central zone to be law-abiding and to be serious with their lives instead of engaging in vices that will destroy them. “Look at a young man who was just killed, a promising young man, a Law student from the University of Uyo. The gains and aspirations of that young man had been cut short,� he said..

Porri wondered the fate of the country where an organisation like NANS hitherto reputable for moulding talents and careers of youths had become a safe haven for criminals and cultists.

He added, “We were all parts of NANS. When we were playing active NANS politics, we would shout and scatter things but Bayelsa State CP, Amba Asuquo...smoking out the deadly students

Look at a young man who was just killed, a promising young man, a Law student from the University of Uyo. The gains and aspirations of that young man had been cut short

you would never see a student beating and slapping another student much less handling weapons to kill. “This time around, young boys of 15 to 20 years will be moving about with guns.

Some persons were also arrested because guns were found in their vehicles. We say no to this because it is an aberration. “As the leader of Ijaw youth central zone, I appeal to students to steer clear of cultism and other activities that will destroy them and bring disrepute to the Ijaw nation�.

Also denouncing the violence occasioned by the convention, the national leadership of the students’ body in a statement by its president, Mr. Chinonso Obasi, alleged that the deceased student of Law was shot dead

by suspected cultists and commended the Bayelsa Police Command and the Department of State Services for their swift response and arrest of suspects. “It is unfortunate that some misguided youths parading as students were drafted in by some aspirants to frustrate the efforts of the organisers. “The national leadership of NANS salutes the promptness with which the security agencies apprehended some suspects and clearly wish to state that the association is interested in the arrest, investigation and prosecution of all those involved including their sponsors. “It is crude, inhuman and unfathomable that young people now resort to arms pos-

session and usage in clearly a students' election,’’ he said.

Obasi called on the security agencies to fish out all those involved in the mindless killing of a fellow student, noting that the death of the Law student should not be swept under the carpet.

At the time of putting this piece together, it was learnt that the deceased student's remains had been conveyed back to his state for burial.

He probably had a premonition of his death. Quoting Christopher Walker in one of his posts on Facebook before his death, the late Magam said “Life is hard, death is easy�. To his loved ones, this death came too soon, too easy!

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IMAGES

L-R; Group CEO, Kewalrams Chanrai, Mr. Siva Subramanian, Director Auto, Kewalram Chanrai, Mr. Anil Seagal (behind), Admin Manager, Sunseed Mills, Mr. Musa Abdulahi and the Group Executive Director, Human Resources of a 20 year long service award certiďŹ cate and gift to Mr. Musa Abdulahi by the group CEO in Lagos..recently

L-R: Head of Administration, Core-Media Group, Mr. Lucas Mokogwu; Managing Director and Chairman, Jandor Foundation, Mr. Olajide Adediran; Aare-Onakakanfo designate of Yoruba, Dr. Gani Adams; Executive Director, Finance and Administration, Core-Media Group, Akeem Yusuf and Secretary, Jandor Foundation, Central Committee, Funke Oguntuga, during a visit by the management team of Jandor foundation to Aare in Lagos...recently KOLA OLASUPO

L-R; Divisional Managing Director, Red Star Support Services, Mr Enoma Ojo;, Divisional MD, Red star Logistics Ltd, Mr Ocholi Etu; Mafoluku Senior Grammar School, Red star Foundation Scholarship Awardee, Joseph Ajigboteso; Group Managing Director, Red Star Express Plc, Mr Sola Obabori and Company Secretary, Frances Akpomuka during the Red star Fondation Scholarship Award for some Secondary Schools Student in Oshodi/Isolo Local Government Area of Lagos State....recently

L-R: Executive Director, Operations, Pathcare Nigeria, Dr .Tolu Adewole; Special Guest of Honour, Her Excellency, wife of vice President, Mrs Dolapo Osinbajo; Managing Director, Pathcare Nigeria, Mrs. Pamela Ajayi, and Chairman, Dr. Richard Ajayi ,during the visit to SYNLAB’s National reference Laboratory by Mrs Osinbajo in Lagos;...recently SUNDAY ADIGUN

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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: President, American Business Council, Lazarus Angbazo; Executive Secretary/ CEO, American Business Council, Margaret Olele and Deputy Secretary of State, John Sullivan; during the Nigeria - USA business Dinner, in Abuja...recently

Chairman, NEPAD Business Group Nigeria (NBGN), Dr. Mrs. Nike Akande (left) and President, Africa Development Bank Group (AfDB), Dr. Akinwumi Adesina during a courtesy visit by NBGN to the AfDB in Abidjan, Cote d’Ivoire... recently

L-R; Regional Retail Head, Lagos & South-west of First City Monument Bank (FCMB), Funmilola Paseda; Assistant Superintendent of Police, Mr. Sylvanus Elmathan; Regional Director, Lagos of the Bank, Mr. Oliver Opara; one of the winners of a television set at the grand ďŹ nale draws of the FCMB Millionaire Promo Season 4 in the Region, Baby Ebube Emmanuel; her mother, Mrs. Emmanuel and Zonal Head, Lekki Branch, Mrs. Violet Odu, during the grand ďŹ nale draws ceremony of the promo held on November 30, 2017 at Oniru in Lagos...recently

L-R: Publisher/CEO, Politico.ng, Lai Omotola; Editor-in-Chief, Emmanuel Malagu and the Editor, Nduka Uzuakpundu, during the launch of the TIMER on countdown to the 2019 general elections by politico.ng in Lagos....recently KOLA OLASUPO

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Quick Takes Techno Oil Sensitises Church on LPG

WOMEN OF SUBSTANCE

L-R: Chairman, Specialised Exhibition Committee, Lagos Chamber of Commerce and Industry, ‘Tola Gbogboade; General Manager, Corporate and Institutional Banking, Sterling Bank, Mojisola Bakare; Group Head, Agric and Export, Mrs. Bukola Awosanya and Managing Director, T & R Energy, Prisca Kanebi, during the seminar on Women Empowerment and National Development, by the LCCI Women Group, in Lagos‌recently

Kachikwu: Nigeria Can Maximise OPEC Exemption with Low Production Cost Chineme Okafor in Abuja The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria could make the most of her exemption from oil production cap agreed by member countries of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries, by working hard to reduce the cost of producing a barrel of oil from her fields.

Speaking in an interaction with THISDAY in Vienna during the 173rd meeting of OPEC countries, and the third meeting of the OPEC and its non-OPEC allies where a decision was made to extend the oil production cut they agreed

ENERGY in December 2016, Kachikwu, explained Nigeria was losing its competitiveness amongst other oil producers with its high production cost.

According to him, the country currently produced oil at between $23 and $24 per barrel, and that it was not competitive when compared to other producers like Saudi Arabia and Iran. He noted that this would have to come down for her to fully maximise the output exemption given to her by the group. “The next battle for me is cost, because at the end of all these, it doesn’t matter what the volumes are if we do not

get our cost to a point that is reasonable and comparative to the high performing OPEC members – Saudi Arabia, and Iran, it doesn’t matter what numbers anybody gives us, we are blowing it, and that is why you see me shouting all the time about cost,� said Kachikwu.

He further stated: “I will have to work with the NNPC, all the parastatals and oil companies to keep driving those numbers down because quite frankly, even if I have a million barrels and I am producing at $15 a barrel, if you do a simple calculation, you will find out that your returns are about as good as you doing two million barrels and producing at $30

a barrel. “So, cost is key for us to enjoy the benefits of the exemptions that we have. We have come down from an all-time of $28-29, and now about $23-24, but that is nowhere near where we should be. We need to be edging towards $18-15, and that is going to be the big work for next year.�

The minister also talked about the government’s plans for the sector in 2018, indicating that other than driving down production costs, development of gas would take a priority position in its itinerary for the industry.

He explained that: “We Continued on page 22

NNPC’s Exit of JV Cash Calls will End Project Deferments by IOCs, Says PETAN Ejiofor Alike The Petroleum Technology Association of Nigeria (PETAN) has stated that the exit of joint venture cash calls by the Nigerian National Petroleum Corporation (NNPC) will end the era of project deferments and cancellations by the international oil companies (IOC), which were caused by paucity of funding.

The NNPC in December 2016 exited the cash call arrangement with the IOCs and got a discount of $1.7 billion from the $6.8 billion it owed its JV

ENERGY partners as cash call obligations.

Under the deal, the corporation was requested to pay $5.1 billion out of the $6.8 billion, in addition to the $1.2 billion cash call debt owed the partners in 2016.

The corporation paid the first tranche of $400 million in April 2018 with a firm commitment to pay the outstanding debts before April 2018.

With the corporation’s exit of JV cash call model, the JV partners adopted self-funding model to execute oil and gas

projects, thus freeing the federal government from budgetary allocations for the projects.

Speaking to journalists at the weekend after a meeting of PETAN in Lagos, the Chairman of PETAN, Mr. Bank-Anthony Okoroafor said the country’s exit from the JV cash call model would end the era of project deferments and cancellations by the IOCs. According to him, the new self-funding model will also open up Nigeria’s oil and gas sector and ensure that the service providers are paid promptly by the IOCs.

�I remember that in the past, when you execute a project for an IOC, you will not be paid.

When you ask them, they will tell you that the government has not paid their own part of the JV cash call. But now, they will go and borrow money and if they self-fund themselves, the issue of waiting for the government to provide their own cash call before they pay for the work done will no longer arise. We think that the difficulty they experienced in accessing fund is a thing of Continued on page 22

Techno Oil Limited has presented 50 pieces of 6-kilogramme gas stoves to indigent parishioners at St. Phillip and James Catholic Church in Lekki, Lagos.

Addressing the beneficiaries, the Manager, Sales (LPG) of the company, Mr. Eugene Osimiri said the gesture was part of the Corporate Social Responsibility initiative of Techno Oil. �This gesture is a CSR initiative, aimed at empowering indigent women of in the church towards switching from cooking with kerosene, firewood and charcoal to a reliable and cleaner fuel-LPG,� he said.

He reminded the women of the inherent danger and health hazards associated with kerosene, firewood and charcoal when used for cooking.

Osimiri advised the parishioners not to look back in embracing LPG, saying that LPG should be made the preferred fuel of choice among the populace.

He recalled that Techno Oil had carried out a similar initiative in the past among market women in Oyingbo, Eredo, Surulere, Ibeju-Lekki and Epe, near Lagos.

The manager assured that Techno Oil would continue to be at the forefront of initiatives to secure the environment and save lives as well as empowering the hapless segment of the population.

Osimiri lauded the LPG Group of the Lagos Chamber of Commerce and Industry as well as the Lagos State Government for partnering with Techno Oil over the years in the effort to popularise LPG.

Fire Guts TCN Substation in Enugu A 30MVA 132/33kV power transformer of the Transmission Company of Nigeria (TCN) was lost to fire at the Nkalagu transmission substation, Enugu at the weekend.

TCN said in a statement that the old 30MVA power transformer which had already been earmarked for replacement in line with TCN’s Transmission Rehabilitation and Expansion Programme (TREP), was unfortunately gutted by fire, Friday afternoon.

Although the cause of the fire is still being investigated, TCN said that its engineers were already in the substation, working to quickly restore supply through the second 30MVA transformer in the substation.

The statement further noted that NIPP is also currently installing a new 60 MVA, 132/33kV power transformer in the substation, TCN would discuss with NIPP to fast track the installation to further boost the stations capacity.

TCN apologised for every inconvenience to electricity consumers in parts of Nsukka, Ihiamufu, Afikpo and Ezilo Water Works.

It pledged that power supply would be restored to the affected areas in a few days.

Ezekwesili, Others Get Soyinka Award A former Minister of Education, Obiageli Ezekwesili, the Executive Director of the Media Rights Agenda, Edetaen Ojo, as well as ten distinguished journalists have been shortlisted for the 12th edition of the Wole Soyinka Award for Investigative Reporting edition of the Wole Soyinka Award for Investigative Reporting scheduled to hold on the World Anti-Corruption day, December 9, 2017, in Lagos.

Coordinator of the Wole Soyinka Centre for Investigative Journalism (WSCIJ), Motunrayo Alaka said in a statement that Ezekwesili was nominated for the Anti-Corruption Defender award.

According to the statement, Ezekwesili is to be recognised for her untiring efforts to promote transparency and accountability as well as her unstinting commitment to the values of justice within and outside Nigeria.

In the midst of the Niger- Delta crisis, we were losing as much as $65million daily. Therefore, there is no amount that will be spent in the region that will be a waste of resources

Chairman, Petroleum Technology Association of Nigeria, Mr. Bank Anthony Okoroafor

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BUSINESSWORLD KACHIKWU: NIGERIA CAN MAXIMISE OPEC EXEMPTION WITH LOW PRODUCTION COST

have our eyes on gas, and have passed the gas policy at the FEC. We just passed the gas commercialisation programme, we are focused very heavily on gas. “We are also now trying to under our fiscal policy provide an incentive enough to be able to produce gas as of right, not gas as associated because every gas we have in Nigeria today is associated gas, in other words, people go to the upstream numbers and charge the cost of producing the gas to the cost of producing the oil, and so at the end of the day you are basically providing 100 per cent incentives and people would be lazy.� “Now, we are saying gas is a different ball game – these are the terms and incentives for gas, don’t charge it to oil production and that will immediately take off $3-4 off the cost, but focus you on how you can explore for gas.

NNPC’S EXIT OF JV CASH CALLS WILL END PROJECT DEFERMENTS BY IOCS, SAYS PETAN

the past,� Okoroafor explained.

The PETAN Chairman pointed out that the association highlighted developments in Nigeria’s oil and gas industry in 2017, noting that the exit from the cash calls model was significant as the IOCs would no longer focus on the federal government for funding. “We reviewed the exit of cash calls; we reviewed the Minister’s Seven Big Wins; we reviewed the gas policy; we reviewed the new oil policy and we then looked at the investments and new capacities acquired by our members within 2017,� he added. “On the other policies that we discussed such as the gas policy that was signed, what does it tell us? It opens the industry to gas; it encourages people to explore for gas, instead of exploring only for oil; it opens the gas market,�

Okoroafor said.

NEWS

$29m Debt: Maritime Workers Vow to Shut Down Saipem Operations Chika Amanze-Nwachuku The Maritime Workers Union of Nigeria (MWUN) has vowed to shut down Saipem’s operations in Nigeria over the company’s alleged indebtedness put at more than $29 million (about N10.6 billion) for various services at the port. President-General of MWUN, Comrade Adewale Adeyanju disclosed this in Lagos over the weekend.

He said that Saipem owes the Nigerian Ports Authority (NPA) $19.3 million (N6.9 billion) for pilotage services and also owes dockworkers, who are members of MWUN, through their stevedoring contractor, Agwut A. International Ltd, more than $10.4 million (N3.7 billion) for accumulated stevedoring services.

The Executive Director, Marine and Operations of NPA, Dr. Sokonte Davies, also confirmed the company’s huge indebtedness in a letter dated November 15, 2017.

In the letter with reference number: HQ/ED/M&O/ OP/1130, addressed to the Managing Director of Saipem Contracting Nigeria Ltd, Davies said the huge indebtedness and Saipem’s lackluster attitude to meeting its financial obligations for the pilotage and stevedoring services was capable of stoking industrial crisis in the port.

The letter obtained by THISDAY read in part: “We are constrained to once more draw your attention to the looming industrial crisis you are stoking by the refusal of your company to pay

outstanding stevedoring claims to Messrs Agwut A. International Ltd. “You will recall that following the threatened industrial action by the Maritime Workers Union of Nigeria, whose members are affected by the non-payment, the Nigerian Ports Authority intervened through letters ref: HQ/ED/M&O/OP/799 and HQ/ED/M&O/OP/806 dated 22nd August 2017 and 12th September 2017 respectively.

Further clarifications were made to stakeholders at a meeting recently held on stevedoring matters in which your company participated.

“The intention of the meeting is to ensure that affected parties equally understand all issues relating to this operation. Obligations on this operation are supported and guided by laws and extant guidelines in which all parties involved should not violate.�

Saipem had been given two weeks within which to pay up the huge sums owed the dockworkers.

It was gathered that the company is yet to comply with the directive after the two weeks grace period.

MWUN President-General, Comrade Adewale Adeyanju said: “This matter has been

ongoing for more than a year and the workers that are working under them have been disturbing us but they (Saipem) are still adamant and have refused to pay. We have written series of ultimatum but they are still adamant. “I don’t know why somebody will come and do business in Nigeria - of course we did not say they should not come and do business - but at least they should respect the opinion of Nigerians and pay the workers what belongs to them. “The two weeks ultimatum given to them by NPA has elapsed and up till now, they

have not called us for any meeting and this issue is generating a lot of crisis in the union because the workers are seeing us as if we have connived with the firm. “We are planning a showdown because at our own level too, we have written, given them ultimatum and it has elapsed. We have directed our members not to do any job until they settle all the outstanding bill they owe us. “It is painful that somebody will work for you and you will not pay the person salary and we know what our economy is like today,� the union leader said.

MERITORIOUS AWARD

L-R: Channel Lead, English West Africa, CISCO, Isioma Udeozo; Managing Director, BCX Nigeria, Ayo Adegboye and Chief Customer OďŹƒcer, BCX Nigeria, Emmanuel Akhidenor, at the media event in Lagos to announce the Services Partner of the Year Award won by BCX during the CISCO Partners Summit 2017 held in Dallas, United States of America...recently

NEITI: Nigeria Earned Zero Revenue from Solid Minerals in Q3 2017 Chineme Okafor in Abuja Nigeria earned no revenue into her Federation Account from its solid minerals sector in the first nine months of 2017, a quarterly review of revenues that went into the account by the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed.

The quarterly review contained information on disbursements made to the three tiers of government – federal, state and local, from the Federation Accounts Allocation Committee (FAAC) for the third quarter of 2017, as well as on mid-year budget implementation between January and September 2017.

It said its findings were based on its analysis of data obtained from the FAAC, National Bureau of Statistics (NBS), Federal Ministry of Finance and the Budget Office of the Federation, adding that while the federal government to get N1.061 trillion from oil revenues, it only got N414 billion, but nothing from the solid minerals sector.

The review report stated that N4.545 trillion was disbursed as FAAC allocations between January and September 2017 by the three tiers of government.

Out of this amount, it said N1.757 trillion was shared in the third quarter of 2017 as against the N1.377 trillion and N1.411

trillion that were disbursed in the second and first quarters of the year. “Budgeted half-year inflows from the oil sector was N1.061 trillion but actual oil inflows to the federal government was N414 billion. The federal government’s budget estimated half-year non-oil revenue inflows at N705 billion but realised only N352 billion, indicating a 49 per cent shortfall,� said the report.

It explained that: “All sources of oil revenues with the exception of rents recorded positive improvements in 2017 than 2016 first halves. The same goes for the non - oil sector revenues where Value Added

Tax (VAT) was the largest contributor to the revenues with a 16 per cent increase over 2016 figures. “There was no revenue recorded from solid minerals and dividends from investments funded by FAAC despite the abundant solid minerals deposits in the country.�

The report attributed the rise in VAT collections to increase in economic activities, expansion in the tax base and the improvement in performance of revenue collecting agencies.

It also said that actual revenue for the first half of the year fell short of projections, adding: “Actual oil revenue

was N1.587 trillion, representing a shortfall of N1.079 trillion, implying a 40.4 per cent underperformance. “Non-oil revenue fared slightly worse, as only 41.6 per cent of the projected revenue was realised. Actual non-oil revenue totalled N1.125 trillion, indicating a shortfall of N1.575 trillion.�

The report also pointed out that while government projected that the non - oil sector would outperform the oil sector, the oil sector performed better by as much as 41 per cent in revenues generation raking in N1.587 trillion as against N1.125 trillion for the non-oil sector.

IPMAN Wants DPR, NNPC to Sanction Depot Operators for Profiteering Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Ejiofor Alike

Comms/e-Business Editor

The Independent Petroleum Markers Association of Nigeria (IPMAN) has urged the Department of Petroleum Resources (DPR) and the Nigerian National Petroleum Corporation (NNPC) to clamp down private depots selling petrol above ex-depot price of N 133.28k.

The western zonal chairman of the association, Mr. Debo Ahmed told journalists in Lagos at the weekend that the shutdown of private

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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

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depots selling petrol above government approved price became necessary against the back drop of the association’s threat to withdraw its services across Lagos State and Ogun State as from December 11.

Ahmed alleged that most private depots owned by Depot and Petroleum Products Marketers Association (DAPPMA) in Apapa were selling petrol between N141 to N143 per litter as against Ex-depot price N 133.28k He urged DPR, NNPC and all other regulatory agencies

saddled with monitoring of depot petroleum pricing to live up to its responsibility by shutting down any private depot selling products above government approved prices. “The increase in price of petrol by depots is killing our members because most marketers will be forced to shut down their stations if the situation continues. The DPR and NNPC seems to be helpless in this situation where the private depots sales petrol above. Many of IPMAN members cannot buy

the petrol from NNPC depots because the product was not sufficient and not all NNPC depots that are working. Ore, Ilorin are not working, while Lagos and Ibadan are doing partial loading,’’ he said.

Debo said the insufficient petrol at NNPC depots had forced most marketers to buy product from private depots.

He alleged that the private deports are not invoicing marketers directly, adding that they give way bill which the prices are not indicated, to cover up their acts of

profiteering.

Ahmed charged the authorities to urgently look into the issues to avert its members’ threat close down their over 1,200 filling stations, which might lead to fuel crisis during the yuletide festivities.

But in a swift reaction, the Executive Secretary of Depot and Petroleum Products Marketers Association (DAPPMA), Mr Olufemi Adewole denied the allegation that the depot owners were selling petrol above the ex-depot price approved by the government.

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ENERGY

Okoroafor: FG Should Develop N’Delta as Nigeria’s Energy Corridor Chairman of the Petroleum Technology Association of Nigeria, Mr. Bank Anthony Okoroafor spoke with Chika Amanze-Nwachuku and Ugo Aliogo on a wide range of issues in the oil and sector, among others. Excerpts: of participation of the Niger Deltans in the sector, creating employment and developing the region. Furthermore, government should have an economic blueprint for the region.

First of all, the last two years have been challenging for the Oil and Gas industry. We have seen the price of crude oil crash. Within the two year, we have seen projects deferred and cancelled. We have witnessed slow oil and gas activities. We have also seen banks afraid of lending money to sector players. But the government still was bullish in many ways; first, getting a new gas policy signed by the federal Executive Council (FEC). They were also bullish in getting a new oil policy signed

by FEC. These gas policies will boost a lot of activities in the industry; if strictly followed, will help develop the gas resources. It will encourage exploration for gas. Presently; nobody is exploring for gas.

It will help clarify all the gas terms. It will also help us achieve the gas flare out. It will further help identify the critical infrastructures we need for gas in the country, while liberating access to both onshore and offshore gas infrastructure and gas processing.

Furthermore, it will help us build a big gas market and improve the domestic gas market.

The same applies to the oil policies. Those are the first two phases. Then also, we have also seen the international oil companies (IOCs) exit the Joint venture cash call and the Nigerian National Petroleum Corporation (NNPC) finally signed off the existing cash call arrangements with Shell, Eni, Total, Chevron, and ExxonMobil.

We have also seen the first part of the Petroleum Industry Governance (PIG) Bill 2016 passed.

Much as it sounds goods that FEC has approved the National Gas Policy, there are still fears that the objective might not achieve. How do you allay these fears?

The last time we had something like this was in 2007. For the first time since 10 years, we are having a structured policy in the sector.

This is in the right direction. This is the time for us to follow the road map, no matter who is on that seat.

There are still huge infrastructural challenges in the sector. Do you think that these problems can be easily be addressed?

The infrastructural deficit is an opportunity.

It shows there are a lot of opportunities for investments because we have not even started on the infrastructure. It is for us as stakeholders to create an infrastructural deficit map of the oil and gas sector and then market it to investors.

Earlier in the year, the government made a lot of noise with its Seven Big Wins, Petroleum Policy and other policy documents, was PETAN part of the making of these documents, and how have these policies helped the industry so far?

The seven big wins are kind of short term and medium term priorities at the oil and gas industry for 2015-2019. The Minister of State for Petroleum, Dr. Ibe Kachikwu, came up with this policy because of its importance.

During the militancy era, we were losing more than a million barrel daily. We have a lot of old and moribund policies, our refineries were not working, there are leakages in the system, inefficiency, unaccountability of the oil produced etc. Therefore, the Minister and his group came up with the seven big wins.

The reasons for the seven big wins were to improve security in order for the country to produce to potential; because without improving security, we cannot be talking of our budget.

If you look at the seven plans of the big wins, they include improving security, shifting our focus from oil to gas. We don’t put in enough emphasizes on gas.

People have concessions, they go for oil, it is easier to bring out and sell. If we had put in the same amount of energy we put in oil into gas, we will have 24 hours electricity; we will have cleaner energy; we will have LPG in every home. Therefore the second plan was to

Do you think this is possible under the current administration?

It makes economic sense to develop Niger Delta as the energy corridor for the federation. In the midst of the Niger- Delta crisis, we are losing as much as $65million daily. Therefore, there is no amount that will be spent in the region that will be a waste of resources.

The government has also signed off a $200 million local content development fund which the NCDMB and Bank of Industry would manage, what does PETAN expect of this funding pool?

I expect NCDMB to use this fund to create champions in the oil and gas service industry.

If you take all the value creating services in the sector, for instance if somebody has only one equipment set, we want a situation where yearly, the NCDMB will take 10 persons in their selection. Move the individual from only working with one unit to working with three or four units in order to make the best in that services that they are delivering. This way, we will build champions, create employment, and the impact will be visibly seen by all. If we aspire to scale up and have the desired change in service delivery, and the quantity of service that can be delivered, you required critical mass of equipment and getting it from the banks is expensive. This fund is excellent; therefore we should use it to create champions.

Let NCDMB ensure that at least yearly, 10 companies benefit from it.

So who will appoint those to benefit first?

I think there is a criteria setup by NCDMB and managed by the Bank of Industry (BOI).

They should ensure that the process is credible.

Okoroafor refocus on gas instead of oil.

The third was to review old and moribund policies and our laws which a lot has been happening with the National Assembly having passed the PIG bill. The next one was the revamping of the existing refineries which they are working on. For the first time, government is doing a holistic work on the refineries. All the turn-around maintenance in the past only provided people the opportunity to collect money.

But this is a structured approach. There is a team that is committed in revamping the refineries.

They also talked about co-locating the small refineries within the refineries, but those ones have not been done. Moreover, it is to drive

efficiency and transparency in the whole process.

The seven big wins are doable, a lot of work has been done, but a lot is still ongoing. But it gives a kind of direction.

People have concessions, they go for oil, it is easier to bring out and sell.

If we had put in the same amount of energy we put in oil into gas, we will have 24 hours electricity; we will have cleaner energy; we will have LPG in every home

We’ve seen Nigeria take maximum benefits from the relative peace in the Niger Delta region owing to the ceasefire declared by militants there, this has also coincided with improvements in oil prices, but it would appear the government is taking for granted its negotiations for peace in the Delta, what do you think about this?

First, government should execute all promises made to Niger- Delta now and even do more.

Like I mentioned in the past, we must create an energy corridor in the Niger-Delta with five modular refineries and power plant. We must create many suitable employment opportunities and ensure 24 hour power supply in the region tied to our production system. Basically, there should be a focus on increasing the level

The NNPC has also restarted processes of a fresh TAM on its four refineries in Port Harcourt, Warri and Kaduna, you’ll agree with me that past TAM have been a sham, yet the corporation is optimistic it will get it this time around, do you share in this optimism?

The present leadership of NNPC led by the GMD, Dr. Maikanti Baru, is sincere. Remember, he formed a group to look into the refineries, we saw the capacity of the refineries move up to 39 percent. If you want the refineries to work, you will require financial independence; people who will be able to take decisions, carry out their maintenance without seeking higher layers of approval. This is the only way to be bullish.

There is need to have KPIs for the Managing Directors of the refineries and let it be self-funding.

It should be financially independent; in that way our refineries will be working.

Earlier in the year, PETAN called for collaboration and assets sharing by upstream operators to create synergy and ensure reduction in the cost of logistics, how well has this call been heeded?

What started that was the fall of the oil price and operators were demanding for massive cuts in prices of services. Therefore as part of our contribution, PETAN suggested that we can reduce the technical cost per barrel of crude by the following ways: First, creating a type of a rig club, this rig club will get all the operators to submit their drilling plans for the year. Then fix all drilling plans for the clients together and now, instead of having 10 rigs, where one rig will work for two months and go. You can select four rigs that will work for five years, but they are working continuously.

This will help to slash cost, there will not be mob, and de-mob. As a result of the fact that they have guaranteed four years work, the day rate is very low and they will drill the entire well for the clients and the same should apply to support and security vessels.

If two locations are close by, one security vessel can service the two clients. Cost will be drastically reduced. The third is the standardisation of equipment, if we standardise equipment in the industry, we will knock down more than 30 percent of cost. But there is a lot of excess because this one is using different sets of standards. Basically, those were our suggestions to bring down cost per barrel of crude oil. I believe that these companies will buy into this.

I’ll bring your attention to the recent rev up of oil search in the Chad basin and other troughs, which has led to deaths especially in the Bornu axis of the Chad basin. How Continued on page 24

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ENERGY OKOROAFOR: FG SHOULD DEVELOP N’DELTA AS NIGERIA’S ENERGY CORRIDOR in every month, you need about 19 cargoes and one million barrel of crude. One million barrels of crude is half of production Nigeria’s production. With Dangote coming and all our refineries working well, and modular refineries coming in, we can move from a net importer to a net exporter. It can happen but not immediately.

economical are these oil searches, do they honestly make sense to Nigeria now?

We don’t have much data in the inland basins, but with improvement in technology seismic, it will be a great disservice for Nigeria not to acquire reliable data in our inland basins.

On the onshore, we have not even started.

We have not seen what is deeper. We have only seen up to 8,000 feet. Therefore, there are huge potential. Our inland basins cannot attract investors unless there is a discovery. If government discovers, then investors can come in. These deep offshore we are celebrating was not discovered by investors, it was government.

Once you make a big discovery, investors will come. It makes sense to acquire data throughout our inland basins. The inland basins of Nigeria include the Anambra basin, the Lower, Middle and Upper Benue, South- eastern centre of Chad, the Middle Niger Bida Basin and the Sokoto Basin. The Upper Basin was done 20 years ago, but very intense.

They drilled one or two wells. NNPC carried out exploration seismic work more than 20 years ago. Therefore, it is only Chad basin that serious seismic work and studies have been done. Therefore, in order to make these basins attractive for investors, government needs to explore these basins and once they explore these basins, and there is confirmation, investors will come. Once there is confirmation we can have bid rounds.

Why has the country not embarked on new oil licensing round and why has it taken so long?

The licensing round is something that needs to be done. Government should do it to create more opportunities for sector entrepreneurs and also the people who own exploration and production companies presently to increase the capacity of their reserves.

We learnt the Dangote’s huge refining complex would come on stream soon. What do you think would be the fate of NNPC’s refineries when this happens, putting into consideration the reluctance of the government to spin them off to people that could manage them profitably?

First, the country’s refining capacity per capita

Looking ahead, what are your thoughts and forecasts for Nigeria’s oil industry in 2018, what would define the fate of the sector in terms of project deliveries and new investments, and what roles do you expect of PETAN in this regards?

As long as the government respects all agreement it has with the Niger Delta region and executes all its plan for the region, stability in the price of crude, gets the PIB completely passed, and the NNPC abides by the cash call exit agreement signed with the IOCs, we will have a robust industry in 2018. It is our duty as a country to execute all the agreements we have with the region and make it happen in the petroleum industry. Let them have a stake in the petroleum industry.

We should make sure that we maintain the sanity of the agreement we have with the IOCs. We should pass the PIB so that investors will be clear on the physical terms of the sector.

Also, you cannot control the price of crude and shale production from the US. We don’t know what will happen in geo-politics which can change the dynamics of the sector. On this note, we have to be bullish and positive that industry will be robust in 2018.

Okoroafor is 0.002 (barrel per day). This is very low. Libya is 0.06 (barrel per day per capita). As a country, yearly, we consume about 17 billion liters of PMS, we consume about 3 billion liters of Automotive Gas Oil (AGO), we consume about 400 million liters of aviation fuel. In Africa, Nigeria is highest consumer of refined petroleum. With Dangote coming in, we cannot even meet up the Nigerian supply.

It is important to state here that the refineries in West Africa cannot support the entire West Africa region. There is a huge market in West Africa because what the region needs is about 39billion liters and we cannot in a year produce that amount.

There is no way Dangote can be operating at 100 percent capacity. The reason is because if you want to operate at 100percent capacity,

Early this year, you had your maiden West African International Petroleum Exhibition and Conference (WAIPEC). What are the expectations for the upcoming one?

WAIPEC is different from all the conferences because it is a conference for the industry by the industry. The key industry stakeholders will all be there. There will be a lot of discussions on the way forward for the industry and a lot of technologies will be on display. The critical issues happening in the sector will be addressed during the conference. The GMD of NNPC will be there to give keynote address.

DPR Targets Zero Loss Time Incidences in Downstream Sector Decries fatalities in 2017 Stories by Ejiofor Alike The Department of Petroleum Resources (DPR) has restated its commitment to achieving its target of attaining zero Loss Time Incidences (LTI) in the downstream sector and decried the fire incidents, which caused fatalities in 2017.

Speaking at the 2017 annual general meeting (AGM) of the Lagos Zonal Office of the DPR held at the weekend in Lagos, the Director of DPR, Mr. Mordecai Danteni Baba Ladan said the ill-fated incidences recorded in 2017 were unfortunate and dire reminder

of the dangers inherent in the operating environment when the operators fail to adhere to safety rules.

The DPR director, who was represented by the agency’s head of downstream operations, Mr. UK Ndanusa, identified the major fatalities in 2017 to include the fire incident at the Apapa Jetty belonging to the Nigerian National Petroleum Corporation (NNPC) and operated by the Major Oil Marketers Association of Nigeria (MOMAN), which claimed four lives and the retail outlet fire incident in Ogun State, which

recorded six fatalities.

Ladan, who commiserated with the families of those that lost loved ones during the incidents, urged the operators to ensure that all hands are on deck to forestall any future recurrence.

Also speaking at the AGM, which has “Safety –Our Joint Responsibility,� as the theme, the DPR’s Lagos Zonal Operations Controller, Mr. Wole Akinyosoye stated that the gas skid explosion, which claimed six lives in Ogun State was an avoidable incident, adding that more people are rushing into the gas business without

acquiring the necessary skills and knowing the statutory entry requirements. “Illegal gas plants and skids are mushrooming and more people are rushing into the gas business without taking time to familiarise themselves with the modus operandi on skill and statutory requirement for entry and operations.

This has led to increasing fire incidents and near-misses in recent times. For example, early this year, six lives were lost to an explosion in a gas skid somewhere in Ogun State.

Subsequent inquest by the DPR revealed it was an avoidable

incident. We also found the lives could have been saved had the minimum safety procedures been followed and the DPR involved in the events leading to the operations in the facility, as prescribed by law.

Recently, another gas explosion occurred somewhere in sub-urban Lagos, where three people were wounded and one, very critically,� Akinyosoye explained.

The DPR zonal operations controller, however, noted that no incident was recorded from the LPG facilities registered by the regulatory agency in 2017, stressing that the agency’s

preliminary deductions from the incidents was that it pays to operate under regulation, where safety measures are prescribed and followed through. “Consequently, the DPR has been shutting illegal gas facilities with the support of the security agencies, especially the Nigerian Security and Civil Defence Corps. Illegal operators should prepare for more shut-down and stricter measures in the coming year, as only DPR licensed operators would be allowed in the oil and gas sector to engender safe operations,� he added.

Benin Disco Unveils Asaba Mains Sub-station to Boost Power Supply Benin Electricity Distribution plc. (BEDC) has completed and inaugurated a new 2X15MVA 33/11Kv Injection sub-station, Asaba mains at Ibusa in Delta state as part of its efforts to improve customer service.

The inauguration of the sub-station by the Minister of Power, Works and Housing, Mr. Babatunde Fashola is coming as the distribution company was ranked the best among the 11 distribution companies in the third quarter 2017 by the Nigerian Electricity Regulatory Commission (NERC).

Speaking at the recent inauguration ceremony, the Managing Director of BEDC,

Mrs. Funke Osibodu said progress had been recorded through improved power supply to Asaba and neighboring communities including Ibusa and Ogwashi –Uku, which have been recently energised to the national grid.

She said that the commissioning of the Asaba sub-station was a major breakthrough that will improve power supply to industries, industrial clusters and commercial areas (through the construction of dedicated line to guarantee more hours of power supply) as well as residential communities.

The BEDC boss said customers in Okwe, Akuebulu, Jarret

Ogbeofu, Osadebe way, Okwe Housing Estate, Oduke, New Jerusalem, Malbovil, Paul Owumi, Osalabon, Alunazunwan and its environs will benefit from these projects, adding that another sub-station at Ibusa is almost completed and ready for commissioning soon.

In his remarks, Fashola said that the present administration is committed to improving power generation and distribution in the country, explaining that a lot of efforts were being put in to that effect.

He lauded the Delta State Government for partnering with BEDC to ensure sustainable power in the state. The

minister noted that the progress made in power generation in the country was due to peace recorded in the Niger Delta, stressing that for the first time both Hydro and gas worked without interruption hence the improvement in power generally across the country.

Present at the occasion was the representative of the Governor, Barr. Newworld Safugha, Delta State Commisioner for Energy, Minister of State for Power, Hon. Suleiman Hassan Zarma, MD/ CEO National Integrated Power Project, Mr. Chiedu Ugbo, Board and Executive Management of BEDC, traditional rulers and

some key customers in Asaba.

Meanwhile, BEDC played host at the 21st power stakeholders meeting held at the Transmission Company of Nigeria (TCN) 330/132kv substation, Asaba, Delta state.

In her opening remarks, Osibodu lauded the planned creation of a Special Anti –Electricity Vandalism squad by the Inspector General of police to protect electricity assets and reduce vandalism and theft, thereby improving service delivery in the sector.

The Minister noted the progress towards incremental power in the country, with the performance improvements

in Transmission Company of Nigeria, including the completion of transmission capacity expansion in Zaria and Funtua to improve transmission capacity in the country. He also announced the installation of 40MVA mobile transformers in Auchi to be completed soon and an agreement with Delta State government, Agip Okpai and communities to install a 330/132Kv substation at Kwale.

In a related development, Olorunsogo 1 plant emerged the best performing Gas Generating Company, while Jebba was elected the best performing Hydro GenCo, according to NERC.

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New Recovery Plan to Rescue the Electricity Market A series of policy actions embedded in a new plan - the Power Sector Recovery Programme which the federal government initiated with the World Bank, could help Nigeria’s privatised electricity market get out of its current difficulties. Chineme Okafor reports It is obvious that Nigeria’s attempt to restructure her power sector for optimal efficiency dates back to 2001 when the National Electric Power Policy (NEPP) was initiated, and then followed up with the passing of the Electric Power Sector Reform Act (EPSRA) into law in 2005.

With the EPSRA in place then, the unbundling and privatisation of successor companies of defunct Power Holding Company of Nigeria (PHCN) was done, and completed in 2013.

But before the privatisation was settled, a ‘roadmap’ to guide in setting standards or determining the course of action for the exercise was established, and it was from its proposals that the government attempted to create a competitive, efficient and private sector-led power market for Nigeria.

However, just about four years after the successor generation and distribution companies of defunct PHCN were handed over to their private sector investors, the electricity market cannot from its current offerings, be said to have taken off to an efficient progression.

Today, the sector which initially held out hopes of improvement and stable electricity services to Nigerians, has remained fraught with lots of troubles comprising underdeveloped transmission and distribution infrastructure, very poor financial liquidity, and often politicallyinfluenced governance systems, all of which have kept it down and inefficient.

In view of the obvious fact that the sector needs some quick and stable intervention, the federal government and the World Bank came up with the PSRP to recover the prospects of the market, and of course, support its drive for an ‘incremental, steady and uninterrupted’ power supply in the country.

PSRP offers promises of reform Justified by the gas, generation, transmission and distribution infrastructure constraints, inadequate retail electricity tariff, sector financial shortfall worth N420 billion, and other market governance challenges, the PSRP has promised to reset the way the market operates and encourage diverse investments that could enable it to grow its opportunities as was initially intended.

In it, the government said it has embedded, “a series of policy actions, operational, governance and financial interventions,� to be implemented by it over the next five years, and from which it hoped to restore the financial viability of the power market.

It also stated that within the PSRP, it would seek to improve market transparency and service delivery, take up consumer satisfaction as priority, and reduce losses and energy theft recorded by the market. All these, it explained would holistically add up to in the next five years gift Nigeria a brand new power market that would be responsive and responsible.

Components of PSRP In a clear-cut explanation, the government said its PSRP would restore the financial viability of the market, improve supply reliability, strengthen market’s governance, as well as place a premium on transparency and contract-based market.

However, a detailed review of the component of the PSRP indicates that within its operational timeline of 2017 to 2021, the government would first commit to fund projected future sector deficits, as well as required market support measures until tariffs are adequate enough to support the market’s liquidity.

To accomplish this, the government said, “the Medium Term Expenditure Framework (MTEF) and other federal government budgets to include provision for this funding.�

Being that the lack of a deep financial base has remained a major challenge to the sector, the government equally stated that it plans to in the PSRP, eliminate historical revenue deficits of the sector worth N420 billion, as well as debts owed the market by its Ministries,

Transmission Substation

Departments and Agencies (MDAs).

The PSRP would also ensure that payments for future electricity services to government’s MDAs are netted through a payment mechanism to be developed by it, allow the sector to operate a cost reflective tariff, as well as meet up with its approval of the Central Bank of Nigeria (CBN) to support the Nigerian Bulk Electricity Trading Plc (NBET) with a N701.9 billion facility to guarantee its payment obligations to the generation companies.

Similarly, it would pursue the promise of the World Bank to support the sector recovery efforts with a financial facility totalling $2.5 billion, as well as keep a baseline daily power

Today, the sector which initially held out hopes of improvement and stable electricity services to Nigerians, has remained fraught with lots of troubles comprising underdeveloped transmission and distribution infrastructure, very poor ďŹ nancial liquidity, and often politicallyinuenced governance systems

supply of 4500 megawatts (MW) across Nigeria.

The Discos which are largely accused of inefficiency in the market, would also be covered by the PSRP as it would push to see them improve their performance through a balanced incentives. These incentives would involve thought-out metering programmes, upgrade of distribution and transmission interface, restructuring and recapitalisation of Discos’ financial frameworks, and implementation of credible business continuity models, to aggressively drive down their Aggregate Technical Commercial and Collection (ATC&C) loss figures.

On the governance of the market, the government has also promised to through the PSRP, restore proper governance framework to the sector, in which it would appoint only credible and qualified persons to represent its interests in the Discos and related agencies that run the industry.

It equally said it would go for a data-driven process of decision-making to boost the sector’s transparency, in addition to encouraging a bi-lateral power contract system to promote competition and efficiency in the market.

These actions, it noted would be constantly monitored by a dedicated team drawn from the office of the vice president, and power ministry over the course of its implementation, to ensure they follow the set objectives.

Need for resourceful execution Though the government may have initiated actions that seem to suggest it is already putting its hearts to the PSRP, especially starting with the approval and drawdown of funds from the N701.9 billion CBN facility to the NBET, amongst a couple others, industry authorities however feel that unless fully executed with no reservations, the PSRP could end up as another piece of government’s many policy intentions that never achieved its full potentials.

Operators, who shared their thoughts on the PSRP with THISDAY, indicated their fears of the government abandoning the plan midway in its implementation. They based their fears on Nigeria’s well-known uninspiring approach to following up a plan to accomplish its final goal.

Specifically, they noted that being a timebound policy, the absence of a clear-cut implementation timeline by the government was a source of worry. They also added that the value of such specific timelines included the convenience of stakeholders making business based decisions in line with the programme and its objectives.

They also stated that with a clear-cut timeline in place, key stakeholders would be able to monitor and give back to the government relevant feedbacks to guide its execution of the programme successfully. “Activity does not necessarily mean progress.

We understand the urgency of this, and how important the PSRP is to the sector, but then, you must understand that progress of any endeavour is not measured by mere activities in that regards but by the impacts which should be part of its KPIs, what are the KPIs for the PSRP and time pegged to their accomplishments,� said an expert who preferred not be named in the paper.

Further on its implementation, the expert stated that it would almost be reckless of anyone or operator in the sector to disregard the potential impacts of political interferences on the implementation of the programme.

According to him, “The government seems to want to spend its way through the periods there would be a cost reflective tariff in the market, meaning that it would provide subsidy to the market. It said it would do this through the MTEF and annual budget, but has it convinced the National Assembly of this? “Secondly, we have the NERC still without a substantive chairman, which does not seem to me like a good arrangement in terms of regulatory independence for market transparency. By 2018, this government would become busy with politics again, and perhaps push aside the need for a substantive chair for the NERC.� “Besides, the Discos say they do not know the terms of the PPAs the NBET has with the Gencos. All these are very essential. If the government cannot fix the simple things of placing a time on the action plans of the PSRP, then I would be too cautious to expect a lot from it,� he added.

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PROPERTY & ENVIRONMENT West African Real Estate Market Remains Favourable for Occupiers, Says Broll In the light of wider macro-economic challenges, corporate occupiers in West Africa remain tightly focused on the optimisation of space and operational cost reductions, according to Nnenna Alintah, Head of Occupier Services for Broll Nigeria. Bennett Oghifo reports

A

slight improvement in Nigerian GDP growth, reduced inflation and increased foreign exchange supply in the 3rd quarter of the year are helping the Lagos property market to emerge from a recessionary dip, according to Broll Nigeria in a review of the West African real estate market presented recently.

Broll said, “Five consecutive quarters of negative growth, a building stock supply glut and vacancies ranging from 50% to 76% in prime-grade buildings have created real estate market conditions which may be difficult to shift. While some relief could now be in sight for landlords, the market remains favourable for occupiers.

“In Ghana there has been a steadier improvement in indicators since the beginning of 2017. In fact the IMF expects the Ghanaian economy to grow 5.9% by year-end on the back of daunting commodities challenges.”

Tony Sekyere, Broll Ghana Head of Property Management, stated that aggressive government policies aimed at stimulating the general economy may boost the real estate sector.

However, in spite of the emergence of positive economic indices, Sekyere believes that the office market will remain a ‘tenants’ market’ in 2018.

“This is an indication of tenants being thin on the ground,” says Sekyere. “Landlords will thus remain open to flexible lease terms and rental charges.”

For occupiers, attractive incentives such as increased fit-out contributions by landlords, more flexibility in rent payment frequency and a broader range of building amenities will stay on the cards for the foreseeable future.

“Occupiers will continue to be discerning in their real estate decisions in order to ensure their bottom-line costs are well managed,” adds Nnenna Alintah, Head of Occupier Services for Broll Nigeria.

“That being said, the outlook for developers and investors may include a slight uptick

in transaction activity in 2018 if economies record continuing growth. And with the vast majority of B-grade stock being sub-standard and low in amenities, there is scope for the redevelopment of existing stock.

“With a reduction in take-up from the oil and gas sector, demand drivers have emerged

in the financial and technology sectors in the last three years.”

Now, Alintah said, the market will need to be scrutinised to find which industries will drive demand in the next 6 to 12 years.

“Mixed-use buildings and the creation of greener working spaces may become integral

to occupier space.

The conversion of lettable space for complementary uses could also form part of a refreshed real estate dynamic.

“Unless the current demand base widens, tenants will continue to dictate rental levels,” concludes Sekyere.

L-R: Member, Estate Surveyors and Valuers Board of Nigeria, Mr. Wole Aboderin; member of the Board, Chief Eugene Oleru; and member, Mr. Victor Alonge, at the induction of members of the Board in Abuja… recently

Speakers Ready at Fusion of Real Estate, Interior Design, Art In preparation for the biggest luxury event of the year; FREIA 2017, some key persons have been announced as speakers. FREIA stands for Fusion of Real Estate, Interior Design and Art. These speakers were strategically selected to optimise the essence of the one-of-a-kind Afrocentric event that would create a platform to explore the synergy within the Real Estate, Interior Design

and Art Industries.

These names come with a pedigree and clout that goes well with the event in exploring the three different industries in an ingenious bid to create a unified concept of art that can stand on its own.

Azu Nwagbogu, Agatha EricUdorie, Olajumoke Adenowo and Andrea Geday are names that would pull strings and ring bells in these industries.

As predicted, FREIA, would come to become the strongest name in African Luxury, Real Estate, Interior Design and Art market. FREIA stands for “Fusion of Real Estate, Interior Design and Art”. It is a specially tailored event

by Luxury Villas Group set to converge some the biggest names in the sector.

“FREIA 2017” Being the first of its kind, has been designed

to be the biggest luxury event of the year. It will host key players and stakeholders in these industries to discuss key issues relating to the unique relationship between the three industries and opportunities of growth here in Nigeria.

Other highlights of the day would include an open exhibition for partners, stakeholders and enthusiasts to showcase

distinctive arts and design experiences as well as property acquisition opportunities and partnerships.

With an anticipated footfall of about 3,000 people; comprising high net worth brands and investors; FREIA is expected to provide a platform for active collaborations and networking that would significantly impact Real Estate in Nigeria.

The FREIA event sched-

uled to hold on the 8th of December, 2017 at the Grand Ballroom, Civic Centre, Ozumba Mbadiwe Avenue, Victoria Island Lagos, would have modules of business, intellectual, cultural and artistic activities. The eventful day would end in a gala night that would have an exquisite crop of the society in attendance.

N100,000, we will be looking at N300bn and with the multiplier effect it could be almost a N1tn.

That was the vision.”

On the importance of consuming homegrown goods and services, the Chief Executive Officer, Interior Woodwork Limited, Mr. Odunayo Emasealu said, “It is important for us to be entrepreneurs at this time.

Once we are not producing, then we are not developing as a country.”

According to Emasealu “The time has come for Nigeria to

be made but we must accept some level of quality until the process evolves. The country is gradually moving towards where it should be and Nigerians should move towards this direction too.”

Welcoming guests and participants the Chief Executive Officer, Greenspring Group, Mr. Peter Nwaochei lauded the Federal Government’s Executive Order on local content development, saying it was the right elixir for manufacturers and indigenous firms.

‘Lack of Continuity Responsible for Poor Development’ The nation is not making much progress in infrastructural development because governments in most states fail to build on the works of their predecessors.

“Each government wants to have its own project. This remains the bane of infrastructure development in Nigeria.

No government is interested in continuing from where the other left off. That happened to Tinapa,” said Mr. Donald Duke, former governor of Cross River state.

The former governor,

who was represented by Mr. Omoruyi Edoigiawerie, as guest speaker at the Made in Nigeria Conference in Lagos, organised

by Greenspring Group in Lagos, recently, said he expected other governors after him to build on the vision of the Tinapa project.

“Upon assumption of office in 1999, Cross River was adjudged one of the poorest states of the country. The agenda was to attract traffic through tourism. But we will continue to be apostles of infrastructure development as against personal

and individual aggrandisement.

We want structures to be in place that will outlive individual tenures.

“A couple of efforts is being made by the present administration to keep the place going but there’s so much we can do. It is currently working at a far lesser capacity than its original capacity. It was supposed to be everything anyone can want in terms of business, leisure, entertainment and tourism. It was built to be a reference point in the entire South-South.

“Cross River is a state that has a potential of welcoming people and Tinapa was designed to become the arm of that tourism effort. We have nine flights coming into Calabar every day; the target was for three million people to come in every year with its multiplier effect. That was what was envisaged.

“While we had a million people come in December for carnival, Tinapa was supposed to increase that number all year round. If these three million people spend an average of a

T H I S D AY TUESDAY DECEMBER 5, 2017

39

40

T H I S D AY ˞ ˜ DECEMBER 5, 2017

BUSINESS/MONEYGUIDE

OfďŹ cial Naira Rate Drops to N307/$ Obinna Chima åÓÞÒ Ă‹Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂž The Central Bank of Nigeria (CBN) on Monday sold the dollars at N307 to the dollar for the first time on the official interbank market, according to the FMDQ OTC. Traders said the development could signal a gradual move to merge its multiple exchange rates.

Nigeria’s convoluted exchange rate system has been used to manage what the central bank described as “frivolous� demand for dollars at the peak of a currency crisis which began two years ago.

The West African country now

has at least five exchange rates including the official one which the Bank used to mask pressure on the currency. In April, it allowed foreign investors to trade the naira at market determined rate, which has weakened the currency to around N360 to the dollar. “It’s possible the central bank is working towards a gradual convergence of rates, one trader told Reuters.

Earlier this month, the Bank sold dollars at N306 to the dollar for the second time after maintaining a level of around N305 to the dollar on the spot market for two months.

The 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 had shown.

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.

Dollar shortages gripped Africa’s biggest economy as crude sales, Nigeria’s mainstay, plunged at the start of an oil price rout in 2014. That triggered a recession last year and frustrated businesses, which had to find dollars on the black market as a result.

FirstBank Achieves PCI DSS RecertiďŹ cation First Bank of Nigeria Limited has disclosed that it recently achieved recertified to the Payment Card Industry Data Security Standard (PCI DSS) version 3.2.

This recertification, according to a statement from the bank, reaffirms its position in the payment card industry in Nigeria. “Recently, FirstBank was named the first financial institution in Nigeria and the West-Africa sub-region to issue 10 million cards to customers across the country. “This makes FirstBank the second bank in Africa to achieve this feat. With this milestone, the Bank has maintained a 95 per cent active card ratio and currently processes about 33 per cent of card transactions

in the entire banking industry,� it added.

The PCI DSS is a set of requirements designed to ensure companies that process, store or transmit credit/debit card information, maintain a secure environment thereby guaranteeing the protection of cardholder data throughout the transaction process. “The award of this certificate is a strong indicator that FirstBank consistently has its customers’ interest at the core of its business operations, is committed to securing customer information as well as maintaining a safe and secure environment for customer transactions. “Consequently, the bank presently has a card transaction volume of over 2700

per minute with one in every three card transactions being a FirstBank card,� it further stated.

According to the MD/ CEO, First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, the bank’s recertification was a testament to its high level operational standards as well as its strict adherence to international security standards and other regulations. “In an era of increasing sophisticated attacks on systems; adhering to the PCI DSS represents an organisation’s best protection against cybercrime. FirstBank remains committed to excellent information security management and would continue to apply the PCI DSS in its business practices,� he added.

FCMB Rewards 2,576 Loyal Customers First City Monument Bank (FCMB) Limited, through its reward scheme tagged: “FCMB Millionaire Promo Season 4’’, has rewarded a total of 2,576 of its customers within the eight months the promo ran.

This was disclosed at the grand finale draws of the promo, which took place at the four regions and 25 zones of the bank across Nigeria recently.

The promo which targeted all existing savings account customers of FCMB with monthly account balance ranging from N10,000 to N50,000 was designed to give extra value and empowerment to customers of the bank, while encouraging

financial inclusion and savings culture.

It was also a part of various initiatives of the lender to enhance customer experience and reward them for their loyalty and patronage over the years.

The first draw of the promo this year was held in May, followed by the second in July and the third in September. At each of the draws, 644 qualified customers won various gifts, including four of them who smiled home with N1million each.

At the grand finale draws, another set of 644 customers emerged as winners. While four lucky customers were each rewarded with the star

prize of N2million, a total of 640 other account holders won LED television sets, generating sets, decoders, tablets, smart phones and other consolation prizes, at the end of the electronic selection exercise.

Adelagun Mary won the star prize of N2million at the Lagos regional draws, while Musa Ele won the same amount at the Abuja & North region. In addition, Chika Anaelechukwu emerged winner of N2million at the South-East/South-South draws, just as Adelaja George was rewarded with same amount, being the star prize winner at the South-west regional draws.

Institute of Directors Nigeria Inducts New Members Ikenna Ekwerike No fewer than 91 new members and 25 associates were inducted into the Institute of Directors (IoD) Nigeria and another four members upgraded through a charge that was administered on them by the first Vice President of the Institute, Chief Chris Okunowo.

In his address, President/ Chairman of Governing Council, IoD Nigeria, Alhaji Ahmed Rufai Mohammed reminded the inductees of the principal objective of IoD, which is to train and develop the capacity of directors both in the private and public sectors of the economy. “Thousands of Nigerian Directors in many corporate organisations have gone

through the executive education programmes that the Institute has held in many forms over the years of its presence. “Similarly, many directors, including permanent secretaries and state commissioners, had also benefitted from the Institutes’ education programmes,� he stated. Also, in her speech at the event, which took place in Lagos, Mrs. Amina Oyagbola, also a member of the Institute and Managing Consultant of a firm, urged the inductees to make ethics a fundamental principle of corporate governance to assure sustainability of the business.

She hinted that the success of any company depended on the quality of its leadership and the decisions the directors and employees made.

“Ethics is the foundation of and reason for corporate governance. Employees are influenced by their context and the culture of ethics in the organisation when making business decisions in their daily interactions – the signals they get from the top,� she said.

She informed them that being ethical in business was a battle, but one which they will always win. “There may be an initial cost of being ethical. You may have to walk away from some deals or transactions. “However, being ethical pays off in the long term. The costs and risks of not being ethical in a global and modern business world are much higher and simply not worth it,� she mentored.

Broad Street, Lagos

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2017 Broad Money (M2)

21,851,454.31

-- Narrow Money (M1)

9,890,813.10

---- Currency Outside Banks

1,523,239.91

---- Demand Deposits

8,367,573.19

-- Quasi Money

11,960,641.22

Net Foreign Assets (NFA)

9,732,990.89

Net Domestic Assets(NDA)

12,118,463.42

-- Net Domestic Credit (NDC)

26,821,446.81

---- Credit to Government (Net)

4,824,226.22

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

7,834,536.74

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

--3,010,310.52

---- Credit to Private Sector (CPS)

21,997,220.59

--Other Assets Net

--14,702,983.39

Reserve Money (Base Money)

5,486,804.65

--Currency in Circulation

1,868,735.07

--Banks Reserves

3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

August 2017

Inter-Bank Call Rate

22.63

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

14.00

Treasury Bill Rate

13.35

Savings Deposit Rate

4.08

1 Month Deposit Rate

8.86

3 Months Deposit Rate

10.14

6 Months Deposit Rate

11.51

12 Months Deposit Rate

11.40

Prime Lending rate

17.69

Maximum Lending Rate

31.20 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT THURSDAY NOVEMBER 30, 2017

The price of OPEC basket of fourteen crudes stood at $61.06 a barrel on Thursday, compared with $61.14 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

30

T H I S D AY ˞ ˜ DECEMBER 5, 2017

BUSINESS/MONEYGUIDE

OfďŹ cial Naira Rate Drops to N307/$ Obinna Chima åÓÞÒ Ă‹Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂž The Central Bank of Nigeria (CBN) on Monday sold the dollars at N307 to the dollar for the first time on the official interbank market, according to the FMDQ OTC. Traders said the development could signal a gradual move to merge its multiple exchange rates.

Nigeria’s convoluted exchange rate system has been used to manage what the central bank described as “frivolous� demand for dollars at the peak of a currency crisis which began two years ago.

The West African country now

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 had shown.

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.

Dollar shortages gripped Africa’s biggest economy as crude sales, Nigeria’s mainstay, plunged at the start of an oil price rout in 2014. That triggered a recession last year and frustrated businesses, which had to find dollars on the black market as a result.

has at least five exchange rates including the official one which the Bank used to mask pressure on the currency. In April, it allowed foreign investors to trade the naira at market determined rate, which has weakened the currency to around N360 to the dollar. “It’s possible the central bank is working towards a gradual convergence of rates, one trader told Reuters.

Earlier this month, the Bank sold dollars at N306 to the dollar for the second time after maintaining a level of around N305 to the dollar on the spot market for two months.

The CBN has injected a total of $14.184 billion into

FirstBank Achieves PCI DSS RecertiďŹ cation First Bank of Nigeria Limited has disclosed that it recently achieved recertified to the Payment Card Industry Data Security Standard (PCI DSS) version 3.2.

This recertification, according to a statement from the bank, reaffirms its position in the payment card industry in Nigeria. “Recently, FirstBank was named the first financial institution in Nigeria and the West-Africa sub-region to issue 10 million cards to customers across the country. “This makes FirstBank the second bank in Africa to achieve this feat. With this milestone, the Bank has maintained a 95 per cent active card ratio and currently processes about 33 per cent of card transactions

in the entire banking industry,� it added.

The PCI DSS is a set of requirements designed to ensure companies that process, store or transmit credit/debit card information, maintain a secure environment thereby guaranteeing the protection of cardholder data throughout the transaction process. “The award of this certificate is a strong indicator that FirstBank consistently has its customers’ interest at the core of its business operations, is committed to securing customer information as well as maintaining a safe and secure environment for customer transactions. “Consequently, the bank presently has a card transaction volume of over 2700

per minute with one in every three card transactions being a FirstBank card,� it further stated.

According to the MD/ CEO, First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, the bank’s recertification was a testament to its high level operational standards as well as its strict adherence to international security standards and other regulations. “In an era of increasing sophisticated attacks on systems; adhering to the PCI DSS represents an organisation’s best protection against cybercrime. FirstBank remains committed to excellent information security management and would continue to apply the PCI DSS in its business practices,� he added.

FCMB Rewards 2,576 Loyal Customers First City Monument Bank (FCMB) Limited, through its reward scheme tagged: “FCMB Millionaire Promo Season 4’’, has rewarded a total of 2,576 of its customers within the eight months the promo ran.

This was disclosed at the grand finale draws of the promo, which took place at the four regions and 25 zones of the bank across Nigeria recently.

The promo which targeted all existing savings account customers of FCMB with monthly account balance ranging from N10,000 to N50,000 was designed to give extra value and empowerment to customers of the bank, while encouraging financial inclusion and savings culture.

It was also a part of various initiatives of the lender to enhance customer experience and reward them for their loyalty

and patronage over the years.

The first draw of the promo this year was held in May, followed by the second in July and the third in September. At each of the draws, 644 qualified customers won various gifts, including four of them who smiled home with N1million each.

At the grand finale draws, another set of 644 customers emerged as winners. While four lucky customers were each rewarded with the star prize of N2million, a total of 640 other account holders won LED television sets, generating sets, decoders, tablets, smart phones and other consolation prizes, at the end of the electronic selection exercise.

Adelagun Mary won the star prize of N2million at the Lagos regional draws, while Musa Ele won the same amount at the Abuja & North region. In

addition, Chika Anaelechukwu emerged winner of N2million at the South-East/South-South draws, just as Adelaja George was rewarded with same amount, being the star prize winner at the South-west regional draws.

Speaking on the concluded promotion and its grand finale, the Executive Director, Retail Banking, Mr. Olu Akanmu, said FCMB had fulfilled the promise it made customers to reward those who participated and qualified for the promo during the four draws organised at the Bank’s various zones and regions nationwide.

According to him, “one of the major objectives which characterised the promo was our commitment to drive financial inclusion and promote savings culture in the society, particularly the unbanked segment.�

Institute of Directors Nigeria Inducts New Members Ikenna Ekwerike No fewer than 91 new members and 25 associates were inducted into the Institute of Directors (IoD) Nigeria and another four members upgraded through a charge that was administered on them by the first Vice President of the Institute, Chief Chris Okunowo.

In his address, President/ Chairman of Governing Council, IoD Nigeria, Alhaji Ahmed Rufai Mohammed reminded the inductees of the principal objective of IoD, which is to train and develop the capacity of directors both in the private and public sectors of the economy. “Thousands of Nigerian Directors in many corporate

organisations have gone through the executive education programmes that the Institute has held in many forms over the years of its presence. “Similarly, many directors, including permanent secretaries and state commissioners, had also benefitted from the Institutes’ education programmes,� he stated.

Broad Street, Lagos

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2017 Broad Money (M2)

21,851,454.31

-- Narrow Money (M1)

9,890,813.10

---- Currency Outside Banks

1,523,239.91

---- Demand Deposits

8,367,573.19

-- Quasi Money

11,960,641.22

Net Foreign Assets (NFA)

9,732,990.89

Net Domestic Assets(NDA)

12,118,463.42

-- Net Domestic Credit (NDC)

26,821,446.81

---- Credit to Government (Net)

4,824,226.22

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

7,834,536.74

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

--3,010,310.52

---- Credit to Private Sector (CPS)

21,997,220.59

--Other Assets Net

--14,702,983.39

Reserve Money (Base Money)

5,486,804.65

--Currency in Circulation

1,868,735.07

--Banks Reserves

3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

August 2017

Inter-Bank Call Rate

22.63

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

14.00

Treasury Bill Rate

13.35

Savings Deposit Rate

4.08

1 Month Deposit Rate

8.86

3 Months Deposit Rate

10.14

6 Months Deposit Rate

11.51

12 Months Deposit Rate

11.40

Prime Lending rate

17.69

Maximum Lending Rate

31.20 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT THURSDAY NOVEMBER 30, 2017

The price of OPEC basket of fourteen crudes stood at $61.06 a barrel on Thursday, compared with $61.14 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

31

T H I S D AY ˾ ˜ DECEMBER 5, 2017

MARKET NEWS

Access Bank Launches New Five-Year Strategy, Eyes No. 1 Spot Goddy Egene ËØÎ Nosa Alekhuogie Access Bank Plc yesterday launched a new five-year strategy with an ambitious plan to become ‘Africa’s Gateway to the World.’

The new strategy has six strategic levers which are; digitally led; retail banking growth and consolidation in wholesale markets; customer focused

analytics driven, with robust risk management; strong global collaboration in key gateway markets and the creation of a universal payments gateway.

According to the bank, the new five-year strategy will accelerate its growth story to position Access Bank as the No. 1 Nigerian bank by 2022 and create a Universal Payments Gateway to dominate international trade and inter-African

payments.

To deliver the transformation, Access Bank will adopt a new organisational structure.

The retail bank will have a customer segment focus, driven by digital and payments. The corporate bank will build deep sector expertise and deploy global relationship managers.

Access Bank’s subsidiaries will be organised around strategic clusters, with strong

collaboration between them to secure trade finance and correspondent banking. The bank’s transformation programme will be underpinned by robust risk management together with high levels of automation to enhance the compliance and risk functions and drive customer insights. Launching the new five-year strategy, Group Managing Director of Access Bank, Herbert Wigwe, said: “Five years

ago we set the ambitious goal to attain top three positionsin our chosen markets. Today, we are a strong, diversified institution with a consolidated top tier position in our sector.

We are setting out a new and ambitious five-year strategy which will put Access Bank at the forefront of Africa’s changing financial landscape by creating a Universal Payments Gateway to dominate international trade

PRICES FOR SECURITIES TRADED AS OF 04/12/2017

and inter-African payments.

“Our strategy will mean that by 2022, millions of people will have access to banking services for the first time. Customers will make payments and transfers when and how they need to.

Businesses will be able to trade in new markets and invest in new technology.

“We recognise that we have a vital role to play in growing Nigeria, our largest market.

˾ TUESDAY, DECEMBER 5, 2017

42

Nigeria Daily Stock Market Report: dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ĚŽǁŶ ϭϬďƉƐ

Tuesday, December 5, 2017

THISDAY AFRINVEST 40 INDEX

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Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

ƋƵŝƟĞƐ DĂƌŬĞƚ KƉĞŶƐ ƚŚĞ tĞĞŬ ŝŶ ƚŚĞ 'ƌĞĞŶ͙ E^ ^/ ƵƉ ϴďƉƐ dŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ĐůŽƐĞĚ ƚŚĞ ƚƌĂĚŝŶŐ ĚĂLJ Ăƚ ϯϳ͕ϵϳϰ͘ϱϴ ƉŽŝŶƚƐ͕ ĂĚĚŝŶŐ ϴďƉƐ ƚŽ ŽƉĞŶ ƚŚĞ ǁĞĞŬ ŝŶ ƚŚĞ ŐƌĞĞŶ͘ dŚŝƐ ŵĂƌŬĞĚ ƚŚĞ ϰƚŚ ĐŽŶƐĞĐƵƟǀĞ ĚĂLJ ŽĨ Ă ƉŽƐŝƟǀĞ ĐůŽƐĞ͘ Ɛ Ă ƌĞƐƵůƚ͕ zd ƌĞƚƵƌŶ ĞdžƉĂŶĚĞĚ ƚŽ ϰϭ͘ϯй ĂƐ ŵĂƌŬĞƚ ĐĂƉ ŝŶĐƌĞĂƐĞĚ ďLJ EϭϬ͘ϴďŶ ƚŽ ƐĞƩůĞ Ăƚ Eϭϯ͘ϮƚŶ͘ dŚĞ ĚĂLJ͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵŽLJĞĚ ďLJ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ďĞůůǁĞƚŚĞƌƐ Ͳ E ^d> ;нϭ͘ϮйͿ ĂŶĚ E/' Z/ E Z t Z/ ^ ;нϬ͘ϵйͿ Ͳ ĂŶĚ & E, ;нϮ͘ϱйͿ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ŵĂƌŐŝŶĂůůLJ ŝŶĐŚĞĚ ϭ͘Ϭй ŚŝŐŚĞƌ ƚŽ ϱϬϬ͘Ϯŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϭϭ͘ϰй ƚŽ Eϲ͘ϰďŶ͘

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ǁŝƚŚ ϯ ŝŶĚŝĐĞƐ ƚƌĞŶĚŝŶŐ ŶŽƌƚŚǁĂƌĚƐ ĂŶĚ ƚŚĞ ŽƚŚĞƌ Ϯ ŝŶĚŝĐĞƐ ĐůŽƐŝŶŐ ŝŶ ƚŚĞ ƌĞĚ͘ dŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚ ŝŶĚĞdž ĂƉƉƌĞĐŝĂƚĞĚ ƚŚĞ ŵŽƐƚ͕ ƵƉ Ϭ͘ϰй ŽǁŝŶŐ ƚŽ ŐĂŝŶƐ ŝŶ E ^d> ;нϭ͘ϮйͿ ĂŶĚ E/' Z/ E Z t Z/ ^ ;нϬ͘ϵйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ /ŶĚŝĐĞƐ ĨŽůůŽǁĞĚ͕ ƌŝƐŝŶŐ Ϭ͘Ϯй ĂŶĚ Ϭ͘ϭй ĐŽŶƐĞƋƵĞŶƚ ŽŶ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ >/E< ^^hZ ;нϰ͘ϴйͿ͕ // K ;нϭ͘ϴйͿ ĂŶĚ E' D ;нϬ͘ϯйͿ͘ ŽŶƚƌĂƌŝůLJ͕ ƚŚĞ ůŽƐĞƌƐ ǁĞƌĞ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ Ϭ͘ϲй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ǁĂƐ ĚƌĂŐŐĞĚ ďLJ ůŽƐƐĞƐ ŝŶ 'h Z Edz ;ͲϬ͘ϳйͿ͕ h ;Ͳϭ͘ϵйͿ ĂŶĚ E/d, ;ͲϬ͘ϯйͿ ǁŚĞƌĞĂƐ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ĐůŽƐĞĚ ůŽǁĞƌ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶƐ ŝŶ DK /> ;Ͳϰ͘ϳйͿ͕ &KZd ;ͲϮ͘ϮйͿ ĂŶĚ dKd > ;Ͳ Ϭ͘ϰйͿ͘

DĂƌŬĞƌ ƌĞĂĚƚŚ dƵƌŶƐ EĞŐĂƟǀĞ ĞƐƉŝƚĞ ƚŚĞ ĚĂLJ͛Ɛ ƉŽƐŝƟǀĞ ĐůŽƐĞ͕ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϴdž ;ĨƌŽŵ ϭ͘ϲdž ŽŶ dŚƵƌƐĚĂLJͿ ĂƐ ϭϵ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ Ϯϰ ĚĞĐůŝŶĞƌƐ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĂƌĞ hZz ;нϭϬ͘ϭйͿ͕ / DKE ;нϴ͘ϳйͿ ĂŶĚ s ZdKE ;нϰ͘ϵйͿ ǁŚŝůĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ ŝŶĐůƵĚĞ &/ ^KE ;Ͳϱ͘ϬйͿ͕ 'h/EE ^^ ;Ͳϱ͘ϬйͿ ĂŶĚ EE ;Ͳϰ͘ϵйͿ͘ tŚŝůĞ ǁĞ ĂƩƌŝďƵƚĞ ƚŚĞ ĚĂLJ͛Ɛ ŐĂŝŶ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ ƐŽŵĞ ůĂƌŐĞ ĐĂƉ ƐƚŽĐŬƐ͕ ǁĞ ŚŽǁĞǀĞƌ ŽďƐĞƌǀĞĚ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ ŵŝĚͲ ĂŶĚ ƐŵĂůůͲ ĐĂƉ ƐƚŽĐŬƐ ǁŚŝĐŚ ŚĂĚ ƌĂůůŝĞĚ ŝŶ ƌĞĐĞŶƚ ĚĂLJƐ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ǁĞ ĞdžƉĞĐƚ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ƚŽ ďĞ ĚĞƚĞƌŵŝŶĞĚ ďLJ LJĞĂƌͲĞŶĚ ƌĞďĂůĂŶĐŝŶŐ ďLJ ŝŶƐƟƚƵƟŽŶĂů ŝŶǀĞƐƚŽƌƐ͘

ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ &ŽƌƚĞ Kŝů WůĐ ;͞&K͟ Žƌ ͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ &ŽƌƚĞ Kŝů WůĐ͘ ;͞&K͟ Žƌ ͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ ŝƐ Ă ůĞĂĚŝŶŐ ŝŶĚŝŐĞŶŽƵƐ ĐŽŵƉĂŶLJ ŽƉĞƌĂƟŶŐ ǁŝƚŚŝŶ ƚŚĞ ƉŽǁĞƌ ĂŶĚ ĚŽǁŶƐƚƌĞĂŵ Žŝů Θ ŐĂƐ ƐĞĐƚŽƌƐ͘ ƐƚĂďůŝƐŚĞĚ ŝŶ ϭϵϲϰ ĂƐ ƌŝƟƐŚ WĞƚƌŽůĞƵŵ EŝŐĞƌŝĂ >ŝŵŝƚĞĚ͕ ƚŚĞ ŽŵƉĂŶLJ ŵĞƚĂŵŽƌƉŚŽƐĞĚ ƚŽ ĨƌŝĐĂŶ WĞƚƌŽůĞƵŵ WůĐ͘ ĂŶĚ ůĂƚĞƌ ƌĞďƌĂŶĚĞĚ ĂƐ &ŽƌƚĞ Kŝů ;&KͿ͘ &ŽƌƚĞ ƌĂŶŬƐ ĂƐ ƚŚĞ ϭϲƚŚ ŵŽƐƚ ĐĂƉŝƚĂůŝnjĞĚ ƐƚŽĐŬ ŽŶ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž͘ /Ŷ ŝƚƐ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ͕ &K ƌĞĐŽƌĚĞĚ Ă ϮϬ͘Ϭй zͲŽͲz ĚĞĐůŝŶĞ ŝŶ ƌĞǀĞŶƵĞ ƚŽ Eϵϲ͘ϵďŶ ĚƵĞ ƚŽ ǁĞĂŬĞƌ ƐĂůĞƐ ŝŶ ŝƚƐ &ƵĞů ĂŶĚ >ƵďƌŝĐĂŶƚ ƐĞŐŵĞŶƚ͘ ,ŽǁĞǀĞƌ͕ ŽƐƚ ƚŽ ^ĂůĞƐ ƌĂƟŽ ŵŽĚĞƌĂƚĞĚ ϰ͘ϳ ƉĞƌĐĞŶƚĂŐĞ ƉŽŝŶƚƐ zͲŽͲz ƚŽ ϴϮ͘ϱй ŝŶ ϵD͗ϮϬϭϳ͕ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ϰ͘ϳй zͲŽͲz ĚĞĐůŝŶĞ ŝŶ ŽƐƚ ŽĨ ^ĂůĞƐ͕ ƚŚƵƐ͕ KƉĞƌĂƟŶŐ WƌŽĮƚ ŝŶĐƌĞĂƐĞĚ zͲŽͲz ƚŽ Eϵ͘ϳďŶ ĨƌŽŵ Eϳ͘ϴďŶ ŝŶ ϵD͗ϮϬϭϲ͘ ĞƐƉŝƚĞ ƚŚĞ ĞdžƉĂŶƐŝŽŶ ŽŶ ŽƉĞƌĂƟŽŶ ŵĂƌŐŝŶ͕ ĂŶ ϴϰ͘ϱй zͲŽͲz ŝŶĐƌĞĂƐĞ ŝŶ EĞƚ &ŝŶĂŶĐĞ ŚĂƌŐĞ ǁĞŝŐŚƚĞĚ ŽŶ ĞĂƌŶŝŶŐƐ͕ ĂƐ W d ĐĂŵĞ ŝŶ Ăƚ Eϱ͘ϲďŶ ;Ϭ͘ϴй ĚĞĐůŝŶĞ zͲŽ ͲzͿ ƚŚŽƵŐŚ W d ƌŽƐĞ ŝŵƉƌĞƐƐŝǀĞůLJ ďLJ ϴϭ͘ϰй zͲŽͲz͕ ďƵŽLJĞĚ ďLJ Ă ƐŝŐŶŝĮĐĂŶƚ ƌĞĚƵĐƟŽŶ ŝŶ ĞīĞĐƟǀĞ ƚĂdž ƌĂƚĞ ;ĚŽǁŶ ƚŽ ϵ͘Ϭй ĨƌŽŵ ϱϬ͘Ϭй ŝŶ ϵD͗ϮϬϭϲͿ͘ /Ŷ Ă ƌĞĐĞŶƚ ĚĞǀĞůŽƉŵĞŶƚ͕ DŽƌŐĂŶ ^ƚĂŶůĞLJ ĂƉŝƚĂů /ŶƚĞƌŶĂƟŽŶĂů ;D^ /Ϳ ŝŶ ŝƚƐ ƐĞŵŝͲĂŶŶƵĂů ƌĞǀŝĞǁ͕ ĚĞůĞƚĞĚ &ŽƌƚĞ Kŝů WůĐ ĨƌŽŵ ŝƚƐ DĂŝŶ &ƌŽŶƟĞƌ DĂƌŬĞƚƐ /ŶĚĞdž ;ĞīĞĐƟǀĞ EŽǀĞŵďĞƌ ϯϬ͕ ϮϬϭϳͿ͘ /ŶŝƟĂů ŝŶǀĞƐƚŽƌ ƌĞĂĐƟŽŶ ƚŽ ƚŚŝƐ ƌĞƉŽƌƚ ǁĂƐ ŶĞŐĂƟǀĞ ĂƐ ƚŚĞ ƐƚŽĐŬ ůŽƐƚ ϭϯ͘ϱй ŝŶ Ă ǁĞĞŬ ĨŽůůŽǁŝŶŐ ƚŚĞ /ŶĚĞdž ƌĞǀŝĞǁ͘ ,ŽǁĞǀĞƌ͕ ƚŚŝƐ ŶĞŐĂƟǀĞ ƐĞŶƟŵĞŶƚ ŚĂƐ ďĞĞŶ ƌĞǀĞƌƐĞĚ ĨŽůůŽǁŝŶŐ ƌĞŶĞǁĞĚ ŝŶƚĞƌĞƐƚ ďLJ ŝŶǀĞƐƚŽƌƐ ƐĞĞŬŝŶŐ ďĂƌŐĂŝŶ ŽƉƉŽƌƚƵŶŝƟĞƐ ŝŶ ƚŚĞ ŵĂƌŬĞƚ͖ ŚĞŶĐĞ͕ ƚŚĞ ^ƚŽĐŬ ŐĂŝŶĞĚ ϭϱ͘Ϭй ůĂƐƚ ǁĞĞŬ ĞŶĚĞĚ dŚƵƌƐĚĂLJ ϯϬƚŚ EŽǀĞŵďĞƌ͘ tĞ ĂƌĞ ŶĞƵƚƌĂů ŽŶ ƚŚĞ ƐƚŽĐŬ ĂƐ ĨŽƌǁĂƌĚ ĞĂƌŶŝŶŐƐ ƉƌŽƐƉĞĐƚ ƌĞŵĂŝŶ ǁĞĂŬ ĚƵĞ ƚŽ ĚĞĐůŝŶŝŶŐ ƌĞƚĂŝů ŵĂƌŐŝŶ ŝŶ ƚŚĞ ĚŽǁŶƐƚƌĞĂŵ ƐĞĐƚŽƌ ĂŶĚ ůŝƋƵŝĚŝƚLJ ĐƌƵŶĐŚ ŝŶ ƚŚĞ ƉŽǁĞƌ ƐĞĐƚŽƌ͘

(RC 603 315)

(A Dealing Member of the Nigerian Stock Exchange)

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

THISDAY AFRINVEST 40 1,503.91

-0.10%

50.4%

50.4%

20.1%

6.3%

6.7x

0.8x

4.2%

11.7%

1

Guaranty Trust Bank PLC

42.70

-0.7%

23.0%

72.9%

72.9%

26.0%

4.3%

8.9x

2.2x

4.8%

11.3%

2

Nigerian Brew eries PLC

133.50

0.9%

9.4%

-9.8%

-9.8%

18.9%

8.6%

32.9x

6.0x

2.7%

3.0%

3

Zenith Bank PLC

24.85

-0.3%

13.0%

68.5%

68.5%

21.7%

3.2%

4.9x

1.0x

8.1%

20.4%

4

Dangote Cement PLC

6.8%

41.3%

41.3%

30.4%

15.7%

17.0x

4.9x

3.5%

5.9%

245.80

-1.3% 1.1%

5

Nestle Nigeria PLC

1,330.11

7.1%

64.2%

64.2%

78.4%

19.0%

34.7x

22.9x

1.9%

2.9%

6

Access Bank PLC

10.00

0.0%

4.4%

70.4%

70.4%

15.1%

2.0%

4.0x

0.6x

6.5%

24.9%

7

United Bank for Africa PLC

9.81

-1.9%

5.5%

118.0%

118.0%

17.2%

2.2%

4.3x

0.7x

7.6%

23.2%

8

FBN Holdings Plc

7.32

2.5%

4.7%

118.5%

118.5%

2.6%

0.3%

11.9x

0.4x

2.7%

8.4%

9

Ecobank Transnational Inc

16.54

-1.0%

2.8%

60.9%

60.9%

-14.6%

-1.3%

0.6x

3.7%

-20.9%

10

Lafarge Africa PLC

4.5x

7.5x

2.0%

22.5%

49.80

0.0%

1.9%

28.5%

28.5%

47.1%

9.8%

498.00

0.6%

11

SEPLAT Petroleum Development C

1.8%

31.1%

31.1%

-12.4%

-6.7%

12

Unilever Nigeria PLC

41.65

-0.3%

1.6%

30.9%

30.9%

50.3%

8.4%

25.7x

9.8x

0.2%

3.9%

13

Stanbic IBTC Holdings PLC

42.55

0.0%

3.0%

183.7%

183.7%

28.7%

3.4%

9.8x

2.6x

1.4%

10.2%

14

Guinness Nigeria PLC

92.64

-5.0%

1.2%

17.9%

17.9%

4.5%

1.4%

65.2x

3.2x

0.7%

15

Oando PLC

5.99

0.0%

1.3%

27.4%

27.4%

40.7%

4.2%

2.7x

0.6x

37.0%

16

Forte Oil PLC

0.5%

-46.7%

-46.7%

44.3%

3.7%

11.4x

5.0x

8.8%

44.99

-2.2% -4.7%

0.6x

-20.9%

1.5%

17

11 PLC

152.21

0.4%

-45.4%

-45.4%

32.6%

12.0%

8.1x

2.2x

5.3%

18

Total Nigeria PLC

240.00

0.8%

0.6%

-19.7%

-19.7%

37.3%

7.4%

8.9x

3.1x

2.5%

11.2%

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

17.00

-2.9%

0.6%

3.1%

3.0%

6.3%

2.2%

10.9x

0.7x

5.8%

9.2%

21

Conoil PLC

28.00

0.0%

0.4%

-25.3%

-25.3%

12.8%

3.5%

8.1x

1.1x

11.5%

12.3%

22

Fidelity Bank PLC

8.0%

1.1%

1.8x

0.3x

6.8%

55.6%

2.06

0.0%

1.1%

145.2%

145.2%

0.8%

12.4%

23

Dangote Sugar Refinery PLC

18.20

1.3%

197.9%

197.9%

23.8%

10.3%

7.1x

3.1x

2.7%

14.1%

24

Flour Mills of Nigeria PLC

33.50

0.0%

0.8%

81.2%

81.2%

10.4%

2.6%

8.5x

0.8x

3.0%

11.8%

25

Custodian and Allied Insurance

3.75

-3.8%

0.4%

-3.6%

-3.6%

18.9%

7.6%

3.9x

0.7x

7.5%

26

7 UP Bottling Co PLC

97.12

0.0%

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%

28

FCMB Group Plc

1.13

-1.7%

0.4%

2.7%

2.7%

3.8%

0.6%

3.3x

0.1x

29

Transnational Corp of Nigeria

1.32

-2.9%

0.5%

51.7%

51.7%

19.6%

4.1%

5.3x

0.9x

30

Diamond Bank PLC

1.37

8.7%

0.5%

55.7%

55.7%

2.5%

0.3%

5.5x

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

21.83

-0.9%

0.4%

50.6%

50.6%

11.5%

5.8%

18.7x

2.1x

2.3%

5.4%

33

International Brew eries PLC

60.00

0.0%

0.9%

224.3%

224.3%

24.6%

7.4%

62.8x

14.3x

34

Cadbury Nigeria PLC

14.25

10.1%

0.4%

38.5%

38.5%

4.5%

1.6%

40.6x

2.4x

2.5%

35

Union Bank of Nigeria PLC

6.22

0.3%

0.3%

30.3%

30.4%

5.6%

1.2%

8.0x

0.4x

12.6%

36

Chemical and Allied Products P

33.93

0.0%

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

37

Sterling Bank PLC

38

GlaxoSmithKline Consumer Niger

1.5x

-8.1% 8.8%

18.1%

1.6%

6.5%

0.3%

44.8%

44.8%

61.2%

23.6%

4.7x

1.7x

1.3%

28.7%

28.7%

11.9%

3.9%

10.8x

1.3x

2.3%

0.0%

0.1%

41.4%

41.4%

9.6%

4.4%

8.2x

0.8x

Continental Reinsurance PLC

1.40

T o p 10 G a in e r s

6.7% 19.0%

0.1%

40

30.5% 19.0%

0.0%

AXA Mansard Insurance PLC

25.5% -17.3%

0.0%

39

T ic k er

4.7x

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 %

14.25

10.1%

C UST OD YIN S

70.0

-3.8%

D IA M ON D B N K

1.37

8.7%

FB NH

56.9

2.5%

C A VER T ON

1.50

4.9%

Z EN IT H B A N K

55.6

-0.3%

LIN KA SSUR E

0.65

4.8%

T R A N SC OR P

54.2

-2.9%

LEA R N A F R C A

0.97

4.3%

F ID ELIT YB K

50.5

0.0%

UC A P

3.43

3.9%

UA C N

37.8

-2.9%

C A D B UR Y

T ic k er

N EIM ET H

0.60

3.4%

D IA M ON D B N K

31.5

8.7%

D A N GF LOUR

10.63

3.2%

FCM B

23.6

-1.7%

FB NH

7.32

2.5%

GUA R A N T Y

19.4

-0.7%

A IIC O

0.56

1.8%

WA P IC

10.8

0.0%

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

Value

P ric e C hg %

3.61

-5.0%

Z EN IT H B A N K

1389.0

-0.3%

92.64

-5.0%

NB

1026.6

0.9%

CCNN

9.39

-4.9%

GUA R A N T Y

833.2

-0.7%

M OB IL

T ic k er F ID SON GUIN N ESS

P ric e

P ric e C hg %

152.21

-4.7%

UA C N

641.7

-2.9%

C ILEA SIN G

1.28

-4.5%

FB NH

412.1

2.5%

C UST OD YIN S

3.75

-3.8%

N EST LE

293.7

1.1%

T R A N SC OR P

1.32

-2.9%

IN T B R EW

285.3

0.0%

17.00

-2.9%

C UST OD YIN S

262.5

-3.8%

2.14

-2.3%

ET I

161.4

-1.0%

44.99

-2.2%

D A N GC EM

150.5

0.3%

UA C N C H A M P ION FO

Afrinvest Securities Lim-

Previous Current Price Weighting Change

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

43

˾ TUESDAY, DECEMBER 5, 2017

MARKET NEWS

ASHON Urges Investors to Seek Brokers’ Advice for Optimum Returns Goddy Egene The Chairman, Association of Stockbroking Houses of Nigeria (ASHON), Chief Patrick Ezeagu has urged investors to seek professional advice of stockbrokers and guidance so as to make optimal investment decision in spite of the inclement business environment.

Ezeagu made this call at the annual general meeting (AGM) in Lagos of ASHON in Lagos.

“Investors should take advantage of stockbrokers’ professional advice to look properly at the numbers and the fundamentals and see where they can take positions because normally people want to offload to be able to retain some liquidity. This is an investment opportunity for those who are very wise. They should be able to take advantage of those who are offloading and then buy at that relatively lower prices because within the next

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

three months after the beginning of the year you will start seeing result, especially for banks and other organisation that their year end is December and that naturally would put spike on the prices,” he said.

According him, as a proactive professional body, ASHON has partnered a number of institutions to enable its members take advantage of an array of investment outlets.

Ezeagu said: “In search

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 30Nov-2017, unless otherwise stated.

of new businesses, we have partnered the Debt Management Office (DMO), to enable our members provide an alternative investment vehicle for our clients and to trade on Federal Government Savings Bond. We are also in constant engagement with the FMDQ, NIBSS, FMAN, National Insurance Commission etc for partnership and for additional business opportunities for our Members. We have also made a giant stride in African

capital market by recently signing an MOU with the Association Professionnelle des Societes de Bourse (APSB) of Morocco to synergise in the area of training , communication, regulation, brokers access and above all cross border listing.

We also participate actively in the West African Capital Market Integration Council (WACMIC)” The ASHON boss disclosed that as part of efforts to seek additional income for our

its members, the Executive Committee has commenced the establishment of Lagos Commodities and Futures Exchange (LCFE).

“The birth of LCFE is to create another platform that will provide additional means of income for our Members. It will also interest you to know that a successful LCFE Private Placement offer closed few days ago and we are very pleased with the figures so far,” he said.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 179.40 180.65 41.47% Nigeria International Debt Fund 234.75 236.14 11.12% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.82 0.83 16.92% ACAP Income Funds 0.63 0.63 80.79% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 18.20% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 18.21 18.76 47.48% ARM Discovery Fund 380.09 391.55 32.36% ARM Ethical Fund 26.72 27.52 19.59% ARM Money Market Fund 1.00 1.00 17.74% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 149.03 150.08 41.69% AXA Mansard Money Market Fund 1.00 1.00 18.10% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 18.68% Paramount Equity Fund 12.07 12.38 28.96% Women's Investment Fund 98.08 100.60 15.94% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 18.24% CORONATION ASSET MANAGEMENT investment@coronation.com Web: www.coronation.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 17.70% Coronation Balanced Fund 1.00 1.01 0.47% Coronation Fixed Income Fund 1.00 1.03 1.56% FBN CAPITAL ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,122.66 1,123.83 10.74% FBN Heritage Fund 149.80 151.11 34.38% FBN Money Market Fund 100.00 100.00 18.50% FBN Nigeria Eurobond (USD) Fund - Institutional $111.72 $112.60 8.56% FBN Nigeria Eurobond (USD) Fund - Retail $111.23 $112.11 8.83% FBN Nigeria Smart Beta Equity Fund 163.60 166.01 45.32% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.39 1.41 48.80% Legacy Short Maturity (NGN) Fund 2.96 2.96 14.99% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,954.35 2,994.53 34.34% Coral Income Fund 2,435.75 2,435.75 16.86% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 17.45% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 17.51% Vantage Balanced Fund 2.09 2.12 24.49% Vantage Guaranteed Income Fund 1.00 1.00 18.59% Kedari Investment Fund (KIF) 113.77 113.77 17.25%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.18 1.20 19.13% Lotus Halal Fixed Income Fund 1,045.41 1,045.41 10.92% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 13.56 13.68 40.33% Meristem Money Market Fund 10.00 10.00 18.73% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.22 1.25 22.97% PACAM Fixed Income Fund 10.94 11.00 5.26% PACAM Money Market Fund 10.00 10.00 15.72% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 132.20 134.34 30.36% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.42 1.42 13.94% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,225.05 2,238.44 21.53% Stanbic IBTC Bond Fund 174.64 174.64 13.43% Stanbic IBTC Ethical Fund 0.99 1.01 29.87% Stanbic IBTC Guaranteed Investment Fund 217.34 217.34 16.29% Stanbic IBTC Iman Fund 175.72 178.02 35.36% Stanbic IBTC Money Market Fund 100.00 100.00 17.80% Stanbic IBTC Nigerian Equity Fund 9,586.05 9,699.02 26.42% Stanbic IBTC Dollar Fund (USD) 1.05 1.05 5.00% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.32 1.34 18.37% United Capital Bond Fund 1.49 1.49 22.41% United Capital Equity Fund 0.92 0.94 36.76% United Capital Money Market Fund ZENITH ASSETS MANAGEMENT LTD Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Zenith Equity Fund Zenith Ethical Fund Zenith Income Fund

1.00

Bid Price 12.72 13.41 18.92

1.00 17.40% info@zenith-funds.com Offer Price 12.91 13.57 18.92

Yield / T-Rtn 30.84% 22.39% 14.35%

NAV Per Share

Yield / T-Rtn

11.41

1.01%

131.99

6.47%

Bid Price

Offer Price

Yield / T-Rtn

11.51

11.61

33.18%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40

139.86

142.89

41.38%

Stanbic IBTC ETF 30 Fund

108.38

110.43

43.03%

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.66 9.25 17.42 20.79 143.49

4.70 9.33 17.52 20.99 145.49

68.21% 31.40% 47.09% 30.16% 13.07%

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

44

TUESDAY DECEMBER 5, 2017 ˾ T H I S D AY

NEWSEXTRA

NETWORKING WITH GIANTS

L-R: Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo; President, Africa’s Young Entrepreneurs (AYE), Summy Smart Francis; AYE Chief Executive Matron, Mrs. Folorunso Alakija; and Vice President, AYE, Miss Ibada Ahmed, at the Networking With Giants Conference (NWG) themed: ‘Solution To Poverty In Africa sponsored by Fidelity Bank’ in Lagos....recently.

Moody’s: Nigeria’s Credit Profile Constrained

by Vulnerability to Shocks, Elevated Deficits Obinna Chima Nigeria’s (B2 stable) credit profile is constrained by the continued exposure of the country’s balance sheet to shocks, weak institutions and elevated deficits, Moody’s Investors Service stated in its annual report yesterday.

The rating agency noted that the country’s credit strength includes the large size of its economy and robust mediumterm growth prospects supported by its domestic demand.

The report was titled: ‘Government of Nigeria -- B2 stable, Annual credit analysis.’

Moody’s anticipated that a further consolidation of Nigeria’s economic fundamentals would

strengthen the country’s economic recovery, with real growth projected to rise to 3.3 per cent in 2018 and 4.5 per cent in 2019.

Moody’s projected a general government budget deficit of 3.6 per cent of GDP in 2017, down from 4.7 per cent in 2016.

In 2018, the deficit was expected to decline slightly to 3.2 per cent of GDP, comprising two per cent of federal government’s budget deficit and around one per cent of GDP deficit at the state and municipality levels, as well as arrears that are likely to be split between the three levels of government.

“Only a durable increase in non-oil revenue will improve Nigeria’s resilience

to oil price volatility and increase the realisation rates of capital spending on the large infrastructure projects that are crucial for Nigeria’s economic development,” Moody’s Vice President -- Senior Credit Officer and co-author of the report, Aurélien Mali said. “Until it does, the government’s balance sheet will remain exposed to further shocks. Deficits will remain elevated and debt affordability will remain challenged.

“This exposure will persist, despite recent improvements in the economy, which are primarily cyclical and related to the strengthening of the oil sector,” Mali added.

According to the report,

Nigeria’s economy has continued to adjust to the loss of more than 50 per cent of its foreign-currency earnings.

It also stated that the continuing recovery in oil production underpins Nigeria’s more robust medium-term prospects.

“Nigeria’s ranks near the bottom of many international surveys assessing institutional strength and its scores are among the weakest within Moody’s rated universe.

“President Muhammadu Buhari, who was elected in May 2015, and his administration have sent strong signals that the “business as usual” environment is over.

“There is greater transparency and accountability, as well as resolve to fully implement the rule of law.

“The government has also made significant gains in terms of governance and transparency in the oil sector.

“There has been also no further build-up of arrears on cash calls in Joint Ventures in 2017 beyond those recorded previously which sends a strong positive signal to international oil companies present in Nigeria,” it added.

The sharp decline in oil prices from mid-2014 severely weakened Nigeria’s public finances. General government revenue halved to 5.3 per cent in 2016 from 10.5 per cent of

GDP in 2014.

Since late 2015, the authorities have stepped up efforts to increase non-oil revenue in response to a significant deterioration in public finances.

Furthermore, the report stated: “Nigeria’s moderate susceptibility to event risk in part reflects the waning of Niger delta insurgency and the return of alert levels to minimum levels.

“Islamist militant group Boko Haram has lost all its strongholds and territory due to a concerted effort by neighbouring countries and support from the international community.

However, Boko Haram remains present in the North-east of the country.”

Fidau Prayers for Osinaike Tomorrow Nigeria Seals Deal with Switzerland The Fidau Prayers for Alhaji Busari Olanipekun Osinaike who died last month on Thursday, November 30, will be held tomorrow,º December 6, 2017.

Born on July 10, 1931, Osinaike passed away at his home in Iperu Remo, Ogun State.

In a statement by Modele Sarafa-Yusuf who spoke on behalf of the family, said ‘My Daddy, My Daddy’ wåas a kind and loving father; a unifying force in his extended family; a committed member of the Ansar ud deen Society of Nigeria and a well respected member of his community’.

Adding, ‘a dapper gentleman in his hey day, he was a loving husband to Alhaja Sifawu Osinaike and Princess Adefunke Osinaike both of whom survive him, and Alhaja Muiba Osinaike,

Late Osinaike who predeceased him’.

He was also survived by

his children, namely: Olanrewaju Osinaike, Motunde Amushan,Oladele Olanipekun, Shereefah Biola Andu, Mowunmi Cosmas, Obafemi Osinaike, Modele Sarafa-Yusuf, Oluwatoyin Kudus, Oluwaseyi Osinaike, and Adekunle Osinaike who were loved and disciplined in equal measures and will miss him sorely!

‘Daddy Ibadan was survived by two sisters, two brothers, many nephews & nieces including ‘Pekun Oyesile and Hakeem Osinaike’.

‘Grandpa enjoyed reading newspapers, teasing his 25 grand children all of whom had a nickname and cuddling his four great grand children’.

According to Modele Sarafa-Yusuf, ‘even as we mourn his passing, we are extremely grateful for his life and legacy’.

to Return $321m Abacha Loot Nigeria and Switzerland have sealed a Memorandum of Understanding (MoU) for the return of $321 million traced to the late former military Head of State, General Sani Abacha, The Cable reported yesterday.

The deal was signed on behalf of Nigeria by the Attorney-General of the Federation, Abubakar Malami, in Washington DC, United States yesterday at the headquarters of

the World Bank Group.

When returned, the money is expected to be expended on social protection programme in Nigeria.

Abacha ruled Nigeria from November 1993 till his sudden death in June 1998 — during which he stashed billions of dollars abroad.

Recoveries have been made since Nigeria’s return to democracy in 1999 with

suspicion that they have been mismanaged. Civil society organisations were involved in the negotiation of the new MoU and are expected to monitor the use of the funds.

The Global Forum on Asset Recovery was established as an outcome of the London 2016 Anti-Corruption Summit hosted by former UK Prime Minister, David Cameron.

Police Move to Reorganise SARS Paul Obi in Abuja Following public outcry against high cases of arbitrariness by Special Anti-Robbery Squad (SARS), an arm of the Nigerian Police, the police authorities yesterday said plans were underway to reorganise SARS.

The move came on the heels of public and social media campaign to disband SARS. Speaking on the planned restructuring, the Police Public Relations officer, CSP Jimoh Moshood, said: “Nigeria Police Force has observed the recent trend of events on the social

media on the#ENDSARSNOW and the controversy being generated by the innuendos from the allegations and other misconceptions as it concerns the operational roles and activities of SARS, a detachment of the Nigeria Police Force.

TUESDAY DECEMBER 5, 2017 ˾ T H I S D AY

45

NEWSEXTRA

Tinubu Wades into Lagos APC Crisis, Insists on Party Supremacy Asks council chairmen to honour party’s decision Gboyega Akinsanmi The National Leader of All Progressives Congress (APC), Senator Bola Ahmed Tinubu, has finally intervened in intractable crisis that has engulfed 20 local government areas and 37 local council development areas in Lagos State, THISDAY has learnt.

It was gathered that the crisis, which has been raging shortly after the state local government elections, arose from the decision of the party’s state executive council to address lopsidedness that characterised the constitution of LGA/LCDAexecutive councils in the state.

Different APC chieftains revealed at the weekend how the clash of interests compelled the APC national leader to organise meetings with the party leaders in the state on the need to respect the decision of the party and accommodate all political interests in order to foster unity.

THISDAY had reported that Osun State Governor, Mr. Rauf Aregbesola’s aspiration to contest senatorial election in Lagos West senatorial district in 2019 had sprung the council chairmen to reject the decision of Lagos APC on the constitution of LGA/ LCDA executive council.

THISDAY had equally reported that Aregbesola’s unwarranted interference in Lagos politics was the reason some council chairmen decided to dump the party’s plan to reconcile all interests and ensure peaceful co-existence in its ranks ahead of the 2019 general election.

To clinch the party nomination, it was gathered that Aregbesola needed to control the party structure at least in Ikotun-Igando LCDA, Egbe-Idimu LCDA, Ayobo-Ipaja

LCDA, Mosan-Okunola LCDA, Agbado-Oke-Odo LCDA, Alimosho LGA, Ejigbo LCDA, Oshodi LGA and Oshodi-Isolo LCDA among others.

But at the meetings, a party chieftain revealed that the APC national leader had directed all chairmen of 20 LGAs and 37 LCDAs in the state “to honour every decision that the party has taken on the constitution of LGA/LCDA executive councils.

The party decision is supreme.”

He explained that the APC national leader specifically directed six LGAs/LCDAs in Alimosho and four LGAs/ LCDAs in Kosofe and Somolu to honour the list of executive councils that the party’s state executive council approved in line with a vision to accommodate all interests in the appointment of political officials without bias and prejudice.

He said the APC national leader directed the Alimosho Council of Elders under the leadership of Aregbesola and a four-time member of Lagos State House of Assembly, Hon. Bayo Oshinowo “to accept the decision of the party in the interest of peace and unity.”

Another party chieftain explained the position of the APC national leader, which according to him, stemmed from the intra-party crisis that plagued Lagos APC before the local government election was held on July 22.

Due to the crisis that arose from the nomination of chairmanship candidates in the July 22, 2017 local government election, the party chieftain revealed that Tinubu invited all political actors “to a meeting and promised that all interests

Rivers State Governor, Nyesom Ezenwo Wike, has declared that the Peoples Democratic Party (PDP) still exists today because of the investment and commitment of South-south members and leaders of the party.

He urged the PDP from other zones to extend their gratitude to leaders and members of the PDP from the South-south for their commitment to the survival of the PDP. The governor yesterday at the PDP Zonal Congress in Port Harcourt., said: “If PDP leaders and members from the South-south are not committed, there wouldn’t have been PDP today.

“It is important that PDP members from other zones of the country congratulate Southsouth PDP members for their steadfastness at a time PDP was in crisis.”

He urged PDP members from the South-south to remain resolute in their support for the growth of the PDP. Wike said: “We are going as

a family and we will continue to work as a family. We will not allow any external force to divide the South-south. We will continue to be together.”

Bayelsa State Governor, Seriake Dickson, said: “We are in very trying times. We are in opposition, facing a very fierce and ruthless government at the federal level. This is a time the governors need your support.”

Senate Minority Leader, Senator Godswill Akpabio, said for the stability of PDP, it is necessary for the next chairman to come from the South-south.

“It is important we stabilise the PDP. That is why we need a national chairman of PDP from the South-south,” he said.

Former External Affairs Minister, Chief Tom Ikimi, said the PDP cannot afford to allow the South-west produce the chairman because it is prone to crisis.

National Vice Chairman of PDP, South-south, Emmanuel Ogidi, said the South-south would work with other zones to strengthen the party.

The congress attracted PDP leaders from all the six states of the zone.

instruction. Rather, they excluded those who lost out at the primaries from the political appointment.

But the party met with all i n t e re s t s a n d c o m p i l e d a consensus list.

“The council chairmen re j e c t e d t h e c o n s e n s u s list and went ahead

with their own list. Our leader was not happy with this development. That was why he convened a meeting attended by key leaders and directed them to honour the decision of the party in order to foster peace and unity.”

Sadly enough, the party

chairman noted that the council chairmen, especially Alimosho, Egbe-Idimu, Ikosi-Isheri, AyoboIpaja, Kosofe and Somolu among others “have not complied with the directive of the APC national leader and the decision of the party’s state executive council in entirety.”

CONDOLENCE VISIT

Deputy Senate President, Ike Ekweremadu (left), consoling the widow of the former Vice President, Dr. Alex Ekwueme, Beatrice, in Enugu yesterday.

Okorocha Swears in 28 Commissioners, Appoints Sister Commissioner for Happiness Amby Uneze in Owerri

Without South-south PDP will Be Dead, Says Wike Ernest Chinwo in Port Harcourt

would be accommodated after the election.

“That is why the party’s state executive council directed all chairmen of 20 LGAs and 37 LCDAs to submit the list of nominees into the executive councils. Surprisingly, the chairmen did not follow the party

Ten months after the dissolution of the Imo State Executive Council, Governor Rochas Okorocha yesterday sworein 28 new commissioners and eighty-one transition committee members of the 27 local government councils in the state.

Prominent among the appointments is that of the younger sister, Ogechi Ololo who was given the Commissioner for Happiness and Couples’ Fulfillment.

He told them that they were appointed to come and prove their worth in the service of the state and her people.

The swearing-in ceremony of the new commissioners and the transition committee chairmen and members started at about 3p.m. and ended by 6p.m. at the Imo International Convention Centre (IICC), with the governor informing his audience that his administration has completed more than 1,000 Projects and would do everything possible to complete the remaining ones before May 29, 2019.

He charged the new appointees to work as if they have only few weeks to deliver and leave their marks in their respective ministries and local governments and to see themselves as men and women on rescue mission,

adding that they had come to be part of the success story of the administration and to contribute their own quota.

He said: “You are the privileged group that has the opportunity to make names for yourselves, and put your signatures in the sands of time.

I want to remind all of you that this appointment is not business as usual. We shall not tolerate any sharp practice or corruption of any type. Neither shall we accept indolence or laziness. You have been called to duty to help us achieve our vision in the Rescue Mission Project”.

According to him, at this moment I charge you all to be good ambassadors of the Rescue Mission wherever you find yourselves. To the transition committee Chairman, you must ensure that on-going projects must be completed especially the schools, chapels, etc.”

He reiterated that what his administration has achieved so far has exceeded all that the previous administrations in the State, both civilian and military, put together had achieved pointing out that anybody with contrary claim on that should make it public.

The commissioners sworn-in and their portfolios are; Prof.

Nnamdi Obiaraeri (Information), Ugochi Nnana – Okoro (Agric. and Food Security), Hon. Gertrude Oduka (Primary & Secondary Education),

Chief Dr. Jones Uzoka (Niger Delta Affairs), Hon. Uchendu Chijioke Mark (Public Utilities), Hon. Gerald C. Okolie (Rural Development), Hon. Dr. Cyril Okafor (Tourism).

Others are Emmanuel Umunnakwe Ojinere (Trade & Investment), Chief Lasbery Anyanwu (Transport), Hon. Onwueyiagwu Valentine (Youth Development), Mrs. Ngozi Njoku (Gender & Social Development), Hon. Chief Mrs Josephine Udoji (Works), Hon. Achilike Nwawuike (Internal Resources & Pension Matters), Prof. Emenalo Chizoba (Tertiary Education), Hon. Nwamerenini Chukwuka (Labour), Hon. Dr. Iyke Njoku (Planning, Budget & Statistics), Hon. Emma Ibediro (Local Government), Hon. Barr. Obinna Mbata (Finance), Hon Martin Ohiri (Sports), Hon. Mgbeanulu Obinna (Environment & Natural Resources), Hon. Emma Buka Iwuanyanwu (Science & Technology & Vocational Education), Mrs. Angela Uwakwem (Health), Hon. Lady Joy Mbawuike (Informal Sector & Market Development), Chief Tony Umezuruike (Housing), Hon. Prince Chidi Nwaturuocha (Public Safety), Hon. Ernest Nwigbo (Inter-Government Affairs & Donor Agencies) , Hon Duru Okechukwu (CGC & Traditional Affairs), Hon. Emeka Benjamin (Special Duties).

In addition to the 28 commissioners, the governor also announced Chief Kingsley Uju as the Supervisory Commissioner Ministry of Land and Chairman Bureau for Land, while Mrs. Ogechi Ololo as the Commissioner for Happiness and Couples’ Fulfillment.

The Transition Committee Chairmen also sworn-in are; Okechukwu Victor Onyechere(Ideato South).

Onomeze (Ihitte Uboma). Sir Anyehe Okeneme (Ikeduru).

Julius Onyeneho (Isiala Mbano).

Akas Paschal, (Isu). Steve Odoemena (Mbaitoli). Eke Sylvester Chidi (Ngor Okpala).

Aloysius Onwuegbuchulam (Njaba). Paschal Onwukaike (Nkwerre).

Chief Bona Akwaiwu (Nwangele). Chidi Nwoke, (Obowo). Mgborokwu G. (Oguta). Amadi Ebenezar (Ohaji/Egbema).

Benneth Ilochuonwu, (Okigwe). Uche Lebechi, (Onuimo). Onyeocha Obinna, (Orlu). Mrs. Ihekire Ngozi, (Orsu). Barrister Duru Evaristus, (Oru East). Okoro Obinna, (Oru West). Ojirisi Alex, (Owerri Municipal). Mrs. Esther Eburuche, (Aboh Mbaise). Sir Edmund Enwereji, (Ahiazu Mbaise). Onuoha Franca, (Ehime Mbano) Anyanwu Bob, (Ezinihitte Mbaise). Kingsley Uche Onwuka, (Ideato North).

Ofurum Kelechi, (Owerri North ). Hon. Osigwe Victor, (Owerri West).

46

T H I S D AY ˾ TUESDAY, DECEMBER 5, 2017

TUESDAYSPORTS

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

RUSSIA 2018

Pinnick Restates Faith in Rohr to Make Eagles Soar Olawale Ajimotokan in Abuja President of the Nigeria Football Federation (NFF), Mr. Amaju Pinnick, has restated his faith Super Eagles Franco-German gaffer, Gernot Rohr, to deliver at the World Cup in Russia next.

Rohr was rewarded with a fresh two-year contract a fortnight ago after leading Nigeria to qualify for Russia 2018 with Group B last game against Algeria to spare.

Speaking on the World Sport programme of the Cable News Network (CNN) from the station’s London studio yesterday,Pinnick is also banking on the youthful team assembled by Rohr to do Nigeria proud next year.

“We have a coach who has the mentality of a winner, and he has imbibed the players with the same attitude.

“We can do very well at the World Cup in Russia. I am very delighted that we have a team for tomorrow; a team for the next (2022) World Cup finals,” stressed Pinnick who also doubles as a CAF executive committee member.

“First and foremost, I must commend all the 32 qualified teams because they came from very intense qualifying campaigns. What will then matter at the finals in Russia are factors such as the quality of preparation by each team, the mental state of the players and prayers from back home.

He admitted that the Super

Eagles were in a decent group.

“We are in a ‘decent group.’

Argentina have such a high pedigree and Croatia and Iceland are very good. Iceland reached the quarter –finals of the European Championship last year and topped their qualifying group, so there are no minnows in there.

He commended the African football body CAF for its decision to support the continent’s five flagbearers’ preparations for Russia 2018 with much –needed cash.

“We are banking on good preparation and the belief that our young players have in themselves. I am also happy that CAF is weighing in with some good money ($500,000 each) to support the preparation of the African flag –bearers. I can also tell you that CAF is looking to see an African team in the semi –finals or even to go all the way to win the trophy.”

Pinnick said nobody gave the Super Eagles any chance of defeating Argentina in a friendly in Krasnodar 20 days ago.

“African players light up the English Premiership every weekend.. Liverpool FC appear not to be able to do without Mohamed Salah and Sadio Mane, and Chelsea FC sometimes struggle without Victor Moses. We have bright prospects in Russia.”

Nigeria will trade tackles with two –time world champions and reigning world vice

champions Argentina, Iceland and Croatia in Group D at Russia 2018.

Argentina narrowly won all four previous FIFA World Cup clashes with Nigeria (all at group phase: 1994, 2002, 2010, 2014) but the Eagles have lashed the La Albiceleste in

two prestige friendlies (2011 and 2014), while honours in two clashes in the final of the Men’s Olympic Football Tournament (1996 and 2008) have been shared.

Eagles have never played Croatia – the small East European nation that shocked

the world by winning bronze medals at her maiden FIFA World Cup appearance in 1998.

Nigeria and Iceland have met only once before in history – a friendly match in Reykjavik on 22nd August 1981 that the Strakarnir Okkar (Our Boys) won 3-0. It was part of the

Eagles’ preparation for the final round of qualifiers for the 1982 FIFA World Cup, which they lost to Algeria home and away.

Incidentally, the two teams’ clash in Russia will also be on the twenty –second day of the month – 22nd June 2018 in Volgograd.

L-R: Company Secretary, Eunisell, Ajibola Edward; GMD, Eunisell, Chika Ikenga; Captain Rivers United FC, Austin Festus; Forward, Christian Weli and Eunisell ‘s CFO, Charles Etuk at the unveiling of United’s home and away jerseys for the next NPFL season in Lagos....yesterday

Rivers Utd, Eunisell Renew I’m Flattered by Barcelona, Man Utd’s Interests, Says Onyekuru Eagles’ striker, Henry continue to work hard and step at a time; focus on were able to win and I also Front-of-Shirt Sponsorship Super Onyekuru, has said he is improve on his game. what’s in front of me and got on the score sheet. I hope Skipper Festus targets trophy in next NPFL season Nigeria Professional Football League (NPFL) club side, Rivers United FC of Port Harcourt and Eunisell, Nigeria’s leading global chemical and specialty fluid management company, have renewed their front-of-shirt contract for the new season scheduled to kick off in January.

Speaking at the unveiling of Rivers Utd’s New Jersey for the 2017/2018 NPFL season at the Renaissance Hotel on Isaac John Street in Ikeja GRA yesterday, Group Managing Director of Eunisell, Chika Ikenga, expressed the company’s faith in the team and the Nigerian League.

“We have been supporting the team for a while now with our belief in them growing with every new season. Our support is a strong evidence of our belief in the Nigerian club football.

“We continue to recognize the important role football and sports generally play in our lives and in our economy.

Football brings people together in fun, entertainment and good fellowship,” observed the Eunisell chief executive.

While admitting that the last NPFL season was not a smooth one for the Garden City team, he urged Rivers Utd to strive to win a silverware

this new season.

Skipper of the team, Austin Festus on behalf of his teammates apologized for the performance of Rivers Utd. “We hereby tender unreserved apology for our performance last season.

Although we were the last Nigerian team standing in Continental campaign last season, we however failed to meet the desired goal of our fans and sponsors.,” observed the captain fondly called Koboko by his fans in Port Harcourt. “ This coming season we are gunning for a major trophy.

We are not going to give any excuse this time around. We were well motivated by our Governor Nyesom Wike and our Shirt Sponsor Eunisell. We want to repay their belief in us with a good trophy this season,” concludes Festus.

League Management Company’s Head of Special Projects, Harry Iwuala, who represented Chairman of the body, Shehu Dikko at the event, commended Eunisell for its steadfastness in supporting Nigerian football.

“I commend Eunisell for keeping up its partnership with Rivers United. I also want to advise the team not to rely on front shirt sponsorship alone.”

flattered by offers linking him with top European clubs like Barcelona and Manchester United, but wants to remain focused on his current team.

The striker, who spoke exclusive to AOIFootball.com after netting the winner for Anderlecht in their Jupiler league game at the weekend in Belgium, said he will

“There is no real secret, I have a strong faith in God and he has blessed me to be able to do what I love and I’m just focused on improving myself, working hard and staying dedicated.

“It’s a blessing to be recognized by these clubs and of course, it’s flattering but I take everything one

for the next few months- that is Anderlecht,” Onyekuru said.

The 20-year-old striker also expressed his delight in scoring his eight goal of the season, saying it’s always a delight to score the winning goal for his team.

“It was a difficult match for us but I am happy we

to continue scoring more goals for Anderlecht and hopefully, win a trophy or two in the season,” Onyekuru concluded.

The on-loan Everton striker has scored 10 goals in all competitions and remains a target of top European clubs because of his tenacity and composure in front of goal.

U E FA C H A M P I O N S L E A G U E

HeynckesTakes Bayern Back to Basics for PSG Jupp Heynckes, the 72-year-old disciplinarian who has steadied the ship at Bayern Munich, has urged his side to keep it simple for tonight’s crunch Champions League match at home to Paris Saint-Germain.

Bayern need to win by a four-goal margin in order to win their group, a situation they find themselves in because of the 3-0 thrashing by a Neymar-inspired PSG in the French capital that precipitated the sacking of Carlo Ancelotti.

At the time, defending champions Bayern were also five points adrift in the Bundesliga.

But Heynckes has stamped his authority on his fourth stint at the club after Karl-Heinz Rummenigge and president Uli Hoeness turned to their 2013 treble-winning coach in their hour of need.

Bayern won nine of their 10 following matches and now hold a six-point lead in the Bundesliga.

However in the Champions League, PSG arrive in Munich with a three-point lead over Bayern at the top of Group B. Both teams are already through to the last 16, but the French have a vastly superior goal difference after five straight wins.

It means Bayern need to win by four clear goals to wrestle top spot in the clubs’ head-to-head record – a result no one in the German camp deems realistic.

“It would be an unlikely dream,” said defender Mats Hummels while chairman Rummenigge said beating PSG by such a margin is “wishful thinking”.

Heynckes sees the game as “pure psychology”.

“We want to beat them and show off what we are capable of. Everything else is far from realistic,” he added.

“I am someone who demands a lot,’ Heynckes said on his return.

“The players will have to get used to that. Discipline is a part of life and work.”

Former AC Milan and Chelsea boss Ancelotti had lost his dressing room long before the PSG hammering.

Arjen Robben quipped that training sessions at his son’s junior team in Munich were tougher than what had become the norm at Bayern, but Heynckes tightened discipline immediately.

He insists on politeness and punctuality at all times.

Mobile phones are expected to be neither seen nor heard and training sessions start an hour earlier than under

Ancelotti.

The players tidy the dressing room and eat together after training.

Heynckes is a Champions League expert, winning it twice in the three seasons he has been involved in the competition..

In 1997-98, he lifted the trophy with Real Madrid in his only season at the Santiago Bernabeu.

With Bayern, he suffered the heartbreak of a penalty shootout defeat against Chelsea in the 2012 final in Munich.

TODAY

(8.45pm)

Benfica Vs Basel Man Utd Vs CSKA Bayern Vs PSG Celtic Vs Anderlecht Chelsea Vs Atletico Roma Vs Qarabag Barca Vs Sporting Olympiacos Vs Juventus

T H I S D AY TUESDAY DECEMBER 5, 2017

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Tuesday December 5, 2017

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MISSILE Emefiele to UNN Graduands “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” – Central Bank of Nigeria governor, Godwin Emefiele outlining the dire situation the country found itself following the fall in commodity prices which eventually plunged the country into its first recession in 25 years and the steps taken to reverse the trend.

TUESDAY WITH REUBENABATI Libya: ‘No Brother in the Jungle’ abati1990@gmail.com

A

rab countries have a tradition of slavery dating back to centuries.

This has persisted despite the existence of international conventions and legal frameworks classifying slavery as a crime against humanity.

The current situation in Libya, involving slavery and human trafficking, has been brought to global attention because we now live in the age of communication where nothing good or bad can be hidden forever. But the situation is far worse than has been depicted. The Nigerians who have been brought back from Libya have told heart-rending stories of woe and misery: how they were sold into slavery by the Arabs and by their own Nigerian brothers and sisters, how they were subjected to all forms of indignity including rape, extortion, and torture, and how living in Libya is now the equivalent of a trip to hell. Quite a number of issues deserve closer interrogation to enable us appreciate the depth of this crisis.

The Libyan story today is a sorry advertisement for the abuse of NATO and the failure of the American foreign policy process.

The multinational coalition that intervened in the Libyan civil war in 2011 and made the removal of Libyan strongman Muammar Ghadaffi its primary objective must by now be full of regrets. It is instructive that former US President Barack Obama has described the failure to think through the consequences of that intervention as the “worst mistake” of his Presidency. The character of that mistake lies in the fact that NATO and other forces despite the division among the global powers on the question of Libya, saw the internal crisis in Libya as an opportunity to deal with a man who had been labeled at various times as the “mad dog of the Middle East”, and who was gradually expressing “imperialist ambitions” – “the king of kings of Africa” with a pan-African vision. NATO’s intervention was an act of vendetta, an orchestrated punishment for a man who had been declared guilty of dictatorship. It was most convenient for the multinational coalition, with its eyes fixed on Libya’s oil, to support the rebels. The result is the mayhem that has overtaken Libya since the fall of Ghadaffi.

Under Ghadaffi’s watch, Libya was a stable, organized society. Following the bloodless coup that led to the flight into exile of King Idris 1 in 1969, the new leader, Muammar Ghadaffi, not only abolished the monarchy, he embarked on a mission of unifying the various clans under the umbrella of Libyan nationalism. He seized control of the country’s oil infrastructure from Western interests and redistributed wealth by creating a welfare system. The average Libyan had access to free housing, free medical care, and free education. The government provided infrastructure, and although Ghadaffi soon became a practical dictator, he managed to grow a sense of Libyan identity and unity.

Seeing himself as a pan-Africanist, he encouraged closer relations with other African nations. Many Africans from Egypt, Sudan, Nigeria and other African countries lived and worked in Libya, even if many of them took the menial jobs that an average Libyan

Buhari would not touch – at that time. The country’s foreign reserve was about $200 billion. Its life expectancy and literacy rates were among the highest in Africa and the Arab world. The average Libyan enjoyed many opportunities except the freedom to be different or query the government and the Constitution. Those who removed and killed Ghadaffi didn’t realize how much of a potentially divided country Libya was, and the extent of Ghadaffi’s efforts in managing the centrifugal tendencies.

After Ghadaffi, Libya imploded. Anything is possible in Libya today because there is no responsible government in charge. People are resorting to self-help. Anybody that is armed exercises authority and does anything to make money. The welfare state has collapsed, criminality is widespread: kidnapping, slavery, violence, the economy is in shambles. Clannish and sectarian differences now predominate.

The country is drifting. Most of the people are like prisoners, including those who are gainfully employed. In the absence of a government, the international community appears helpless. This is the setting for the chaos and the humanitarian crisis that has overtaken that country.

Libya remains nonetheless, a major transit point and exit route for many Africans seeking to escape illegally into Europe. Libya, a country whose land area is almost twice the size of Nigeria, has over 2,000 kilometres of Mediterranean coastline from the Egyptian border to the Tunisian border. Frustrated by the objective conditions in their own countries, in the form of crippling poverty, misgovernance, unemployment and the difficulty of getting a visa or being able to buy a ticket to Europe, many Africans, particularly West Africans opt for the cheaper, albeit illegal option of sneaking into Europe through the desert and across the Mediterranean sea, with Libya and Algeria as the most popular exit points. This has always been a risky venture, but the traffic continues to grow. It is also an organized criminal operation involving gangs at home, and along the route. Nigerians constitute the majority of these illegal migrants.

Organized by a criminal gang at home, they usually travel through Niger, which is a contiguous, ECOWAS country. In Niger,

another gang of human traffickers, mostly Touaregs take over from their Nigerian partners to take the illegal migrants across the desert to Libya. Only about 60-70% eventually make it to Libya. Many die along the way because of the harsh desert conditions and they are buried in the sand. Those who eventually make it to Libya are not necessarily lucky. They may be kidnapped at the border by rampaging Arab militants, turned into slaves, and asked to contact their families back home to pay ransom.

The men are beaten; the women are raped.

The images that we have seen from Libyan slave camps are sad. Arab racism has been an issue and violence towards foreigners is not necessarily new in Libya, but it is getting worse because now the issue is not strictly racism but the people’s desperation for survival in a state that failed.

It is estimated that about 500, 000 – 700, 000 Nigerians are trapped in Libya. The Obasanjo government once had to repatriate over 17, 000 Nigerians from that country. In the light of recent developments, the Buhari government has also repatriated over 1, 000 Nigerians from Libya in 2017 alone, but there is no hope that all of them can be brought back home. Many will like to return home, but they don’t even have the means to transport themselves to the evacuation points. Those that are not enslaved are still hoping to make enough money to be able to cross to Europe. They wash cars, work as farm hands or as security guards, or prostitutes, and they get exposed to all the dangers imaginable. The few who manage to make the final journey to Europe are not always lucky either: they could perish in the sea like the 26 Nigerian girls who recently drowned while trying to cross into Italy.

The saddest part of it all is that Nigerians are also involved in the trafficking and dehumanization of their own compatriots. In a shocking account by one Sunday Anyaegbunam, a Libyan returnee, who left Nigeria in April 2017, with his wife, we are told that: “The Nigerians selling people in Libya are more wicked than many of the Arabs. I have never seen people so heartless as the Nigerians who bought and sold me. There are many of them in Agadez and Sabha, who are making so much money from selling their own people.

But there are other West Africans doing the business too. When you approach them and say “please, my brother, help me”. They would tell you: “No brother in the jungle”. Libya is indeed now a jungle in the hands of armed militants, the Islamic State, tribal gangs, and an interim leadership authority. The jungle is a dangerous place: which is why it is surprising that more Nigerians would prefer to abandon their own country and go to the jungle.

About 70% of the Libyan returnees are reportedly from Edo State, and in general most of them are from Edo, Delta, Imo, Anambra and Rivers states. But this is not enough reason for this problem to be treated as Southern Nigerian or Christian. This should not be about North or South, or Christian vs Muslim. It is unacceptable for every Nigerian issue to be reduced to this kind of division, the same way some Nigerians tend to dismiss Boko Haram as

a Northern problem. This is a crisis that affects all of us. It is embarrassing that Nigerians are deserting their own country and flocking to Europe in droves despite the risks of illegal migration. In the 70s, many Nigerians were proud and happy to live at home, but since the introduction of austerity measures in the 80s and the gradual collapse of the Nigerian economy, a new kind of economy has since developed around dangerous choices.

The consequences are not limited to the tales from Libya. There are Nigerians in jail or on the death row across the world, in China, Thailand and the Middle East. We need to have a strong policy in place to check illegal migration. Massive enlightenment campaigns should be organized to educate the populace about the associated dangers. There is an assignment here for the National Orientation Agency (NOA), a strategic agency, which has been relatively sleepy since 2015. Our youths should be told that there is no safe route to Europe through the desert or a boat ride.

Everybody should wake up – government, civil society, and all the people who have abdicated their responsibilities at the level of the family unit. The human trafficking gangs in the country especially in the identified major centres should be tracked, identified and sanctioned. Government should create a conducive environment for our youths to make a living at home. Government has a constitutional responsibility to empower all Nigerians and to guarantee their security and welfare. Nigeria should also engage the government of Niger. What can we do to prevent illegal migration through Niger?

This has to be a joint responsibility between Nigeria and Niger. Although Chad is not in ECOWAS, quite a number of Nigerians also travel through that route. Joint border patrol and exchange of useful intelligence between Nigeria and her neighbors would be advisable.

The Federal Government of Nigeria and its agencies, the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) and the National Emergency Management Agency (NEMA), the Ministry of Foreign Affairs, the Edo State Government and the International Organization on Migration, CNN, Pastor Temitope Joshua’s The Synagogue, Church of All Nations (SCOAN) and every other group or agency that has responded decently and responsibly to the plight of the Nigerians from Libya, and the evil of slavery in Libya, deserve to be commended. In spite of the deviousness of a minority who earn a living by dehumanizing their fellow human beings, it is enheartening to see that warm blood still flows in the heart of mankind.

The Edo State government has put in place perhaps the most comprehensive rehabilitation programme for the Libya returnees: counseling, accommodation, vocational training, and take off grants after training.

These are worthy steps, but they are at best short-term. The long-term measures for all governments should be good governance, public enlightenment and concerted international action against slavery and all forms of cruelty and inhumanity.

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