Friday 8th December 2017

Kachikwu Rolls Out Emergency Plan to End Petrol Scarcity PENGASSAN threatens strike, to prolong fuel crisis Oil price rises on threat of Nigeria strike, short covering Solomon Elusoji in Lagos and Chineme Okafor in Abuja Following the directive by the Federal Executive Council (FEC) to the Minister of State

for Petroleum Resources, Dr. Ibe Kachikwu, to end the fuel shortages by the weekend, the minister yesterday rolled out short-term measures, which he said would end the fuel

scarcity.

Kachikwu, who briefed journalists in Abuja on the measures, explained that the fuel shortages were occasioned by a gap in the volume of

products available in the country.

The gap, he noted, was caused by the time lag in the delivery of products and the reluctance by oil marketers to

import petrol.

Kachikwu added that the shortfall was caused by the rising price of crude oil, which he said had forced oil markers to defer imports.

He said within the short-term, the NNPC would increase the distribution of petrol from its strategic reserves to cushion Continued on page 8

Boko Haram Threat to Bomb Abuja, Other Cities Real, Warn Police… Page 8 Friday 8 December, 2017 Vol 22. No 8268. Price: N250

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Buhari: My Kano Visit, Reception is a Clear Message to the Opposition State APC endorses president, to sue him if he fails to contest in 2019 Atiku to declare for presidency after PDP convention Ibrahim Shuaibu in Kano and Laleye Dipo in Minna In a clear pointer to his popularity in the most populous state in Northern Nigeria and with an eye on contesting the 2019 presidential election, President Muhammadu Buhari yesterday

in Kano disclosed that the overwhelming reception accorded him by the people of the state was a clear message to the opposition in the country.

Speaking at an interactive session with community leaders held at Coronation Continued on page 9

NJC Rejects Justice Ademola’s Resignation, Retires Him, Another Judge Compulsorily Issues warning, exonerates others Tobi Soniyi in Lagos The National Judicial Council (NJC) has rejected the resignation letter of Justice Adeniyi Ademola of the Federal High Court, Abuja, and instead recommended him to President Muhammadu Buhari for compulsory retirement for alleged misconduct.

A statement issued

yesterday by NJC’s Director of Information, Mr Soji Oye said the decision to retire the judge was taken at the council’s 84th meeting held on December 6, 2017.

The council also recommended the compulsory retirement from office of Mr. Justice O. O. Tokode also of the Federal Continued on page 8

A WELL DESERVED AWARD… World-renowned painter, sculptor and printmaker and recipient of the 2017 Nigerian National Order of Merit (NNOM) Award, Mr. Bruce Onobrakpeya (left), being congratulated by Vice-President Yemi Osinbajo after Onobrakpeya was honoured with the award at the

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Boko Haram Threat to Bomb Abuja, Other Cities Real, Warn Police Paul Obi in Abuja The Nigerian Police yesterday said the threat by Boko Haram to bomb Abuja, the nation’s capital, and other states was real, reinforcing the warning issued by the British and American governments at

the weekend that the Islamic sect was planning to strike the Federal Capital Territory (FCT).

Accordingly, the police warned against any form of complacency among the security agencies, stating that it would remain vigilant as far as the threat was concerned.

FCT Police Commissioner, Sadiq Bello stated this during a stakeholders’ forum in Abuja, explaining that efforts were in top gear to prevent the attack. “The threat to attack the city is real. However, we want to assure members of the public that we are working in

collaboration with other sister security agencies to ensure that we all enjoy a peaceful Yuletide. “We are doing a lot, but we don’t want to mention the strategy so that the men of the underworld don’t take advantage of it,� he said.

Bello assured the public that

the police was doing a lot, especially with other security agencies, adding that they had already mapped out strategies. “It may involve massive raids, massive visibility policing, vigorous stop-and-search operations and we would also embark on intelligence

gathering. “If anyone comes across persons of questionable character and suspicious movement, he or she should come to us quickly because we want to take all the necessary measures to prevent the actualisation of the threat,� the commissioner said.

NJC REJECTS JUSTICE ADEMOLA’S RESIGNATION, RETIRES HIM, ANOTHER JUDGE COMPULSORILY High Court for misconduct.

The council noted that Justice Ademola forwarded his notice of retirement to the council on October 10, 2017.

He was billed to retire on April 9, 2018, when he will attain the mandatory retirement age of 65 years.

But barely 24 hours ago, the judge had resigned his appointment; a copy of the resignation letter was shown to THISDAY. NJC said Ademola was recommended for compulsory retirement on the allegation

contained in the petition written against him by a group of eight persons under the name of the Committee of Anambra State PDP House of Representatives Members-elect who accused the judge of the following allegations: “That His Lordship heard their Suit No. FHC/ABJ/CS/177/201 which was adjourned for judgment on March 25, 2015. “That on the adjourned date, His Lordship did not deliver the judgment but adjourned the case indefinitely, to await the decision of the Supreme

Court on another matter on the same issue on the list of PDP candidates for Anambra State for the general election of 2015. “That His Lordship speedily heard and delivered judgment in another case in Suit No. FHC/ABJ/CS/254/2015 filed later on the same issue, with intent to confer undue advantage on the plaintiff who is from a family with which the respondent has a relationship. “That the Certified True Copy (CTC) of the judgment ultimately given

to the petitioners contained a paragraph that was not read in open court by the Hon. Judge and that a phrase was altered, all to address an issue raised in the appeal that had already been filed by the petitioner before the issuance of the CTC. “That some of the reasoning and conclusions of the Judge were somersaults. “That the respondent finally delivered judgment in the case on July 8, 2016, five months after the Supreme Court delivered the judgment he was awaiting, contrary to the

constitutional provisions that judgments should be delivered within a period of 90 days.�

NJC said that although the petitioners withdrew their petitions in accordance with Regulation 16 of the National Judicial Council Judicial Discipline Regulations of March 9, 2017, the council observed that Justice Ademola’s action of non-delivery of judgment within the stipulated time amounted to misconduct, contrary to Section 292 (1)(b) of the Constitution and Rules 1.3 and 3.7 of the 2016 Revised

Code of Conduct for Judicial Officers of the Federal Republic of Nigeria.

NJC said: “The public is hereby informed to disregard news circulating on some news media that Hon. Mr. Justice Ademola has voluntarily retired. “The purported voluntary retirement is clearly an afterthought, as council had taken action before his decision to forward any voluntary retirement letter.�

The council said Mr. Justice

nationwide strike effective December 18, 2017 if it fails to direct the management of Neconde and other companies to recall our sacked members as the only option to address this injustice and lawlessness,� the statement said.

The union appealed to all Nigerians to show understanding and to use this window to stockpile adequate petrol and other petroleum products that will last them during the festive period, as this strike will be indefinite, it warned.

Reacting to the threat of strike in the industry, oil prices climbed more than 1 per cent yesterday, as traders covered shorts after sharp losses the previous day brought on by an unexpectedly large rise in U.S. stocks of refined fuels. “Short covering in the market, together with the threat of a strike by Nigeria’s key oil union, has provided some support to oil prices in today’s session,� said Abhishek Kumar, senior energy analyst at Interfax Energy’s Global Gas Analytics in London.

According to Reuters, Brent futures were up 85 cents, or 1.4 per cent, at $62.07 a barrel by 11:42 a.m. EST (1642 GMT), while U.S. West Texas Intermediate (WTI) crude was up 63 cents, or 1.1 per cent, at $56.59.

The previous day, Brent settled down 2.6 per cent and WTI down 2.9 per cent after an unexpected rise in U.S. fuel stocks.

Data from the Energy Information Administration (EIA) on Wednesday showed that U.S. crude oil inventories fell by 5.6 million barrels in the week to December 1, to 448.1 million barrels, putting stocks below seasonal levels in 2015 and 2016.

But gasoline stocks rose by 6.8 million barrels, well above the 1.7 million-barrel gain analysts had expected, and distillate stocks, which include diesel and heating

oil, rose 1.7 million barrels. “It was a sharp correction yesterday, so it’s a bit of a pause today,� said Olivier Jakob, managing director of PetroMatrix, adding: “Technically, it’s still very weak.�

PVM Oil Associates also said in a note that “the weekly data was not as bad as it seems at first sight�. “Current (stock) levels are nearly 7 per cent below last year and the surplus to the five-year average is only 3.9 per cent,� it said.

But troublingly for oil bulls, U.S. oil production rose by 25,000 barrels per day (bpd) to 9.71 million bpd in the week to December 1, the highest since monthly figures showing the U.S. produced more than 10 million bpd in the early 1970s.

Soaring U.S. output threatens to undermine efforts led by the Organisation of the Petroleum Exporting Countries (OPEC) and Russia to bring production and demand into balance following years of oversupply.

Sukrit Vijayakar, managing director of energy consultancy Trifecta, said there were “darker shadows over the pace of rebalancing, if ... any is taking place�.

Continued on page 9

KACHIKWU ROLLS OUT EMERGENCY PLAN TO END PETROL SCARCITY the gap, while the DPR and Petroleum Products Pricing and Regulatory Agency (PPPRA) would increase their monitoring of the market to penalise instances of hoarding by marketers.

He also stated that within the coming weeks, the Kaduna and Port Harcourt refineries would respectively deliver up to 750,000 and 2.1 million litres per day to support efforts to bridge the shortfall in supply.

NNPC, he added, would have about four of its petrol cargoes come in within the next few days, and as much as 30 cargoes before January ends. “What caused some of this was some level of gaps in terms of volume. That gap was because the NNPC is the only one importing most of the products currently. “Most of the people we expected in the private sector to import products were not able to bring in products, some of them have pushed back the days they were supposed to bring in products to January and so you have NNPC rapidly trying to fill in the product requirements in terms of 100 per cent capacity basis. “Luckily, there is enough storage which they are releasing right now. They are also taking emergency steps to try and fill whatever gaps there are in December. PostJanuary, there won’t be much of an issue because most of the deliveries expected should be coming in,� said Kachikwu.

On the comprehensive restoration work aimed at bringing the four refineries operated by NNPC in Kaduna, Warri and Port Harcourt back to their nameplate production capacities, Kachikwu said repairs would eventually start in January 2018.

He explained that the technical committee in charge of restoring the refineries was almost done with its work of benchmarking costs and streamlining bidding firms and would submit its report

for presidential approval before the year ends.

He noted that after that, it is expected that the repairs on the refineries would commence in January.

He did not state how long the repairs would last but noted that so far, the committee had been able to trim down the list of bids for the job from over 40 to about 11 serious and committed firms. “The chief operating officer who heads the technical team that is overseeing this has worked very hard in the last six months, doing the benchmark analyses and negotiations with very high responses that we’ve received from many parties which is a very encouraging thing. “I think it has gone down from over 40 applicants to 24, to about 11, and I have instructed him to complete that process before the end of the year so that we can get approval from the president and go forward to award those, so that by early next year, actual work can start,� said Kachikwu, in response to a question on the status of the process.

He added: “A lot of benchmark analysis is going on in terms of comparing costs and making sure we are not going to pay more, identifying the right partners and making sure that they have money in the bank once we have agreed for this to proceed. The promises we have made in terms of the refineries, we are putting a lot of efforts on them. “In the long-term, the position remains what we’ve said that our refineries must begin to work. The process of the refineries’ upgrade is almost complete and very soon we will announce those who eventually win that process and they can get on with work beginning from January.�

The minister’s briefing came just as the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) issued a

seven-day ultimatum to the government, at the end of which it will seek to disrupt fuel supply and distribution.

The ultimatum, which will end on Monday, December 18, will culminate in the shutting down of all oil and gas installations, according to a statement issued by PENGASSAN’s media officer, Mr. Babatunde Oke yesterday.

PENGASSAN, in its ultimatum to the federal government, said its stance stemmed from “unfair labour practices� and the “seemly untenable posture of some indigenous oil and gas companies and marginal field operators by relevant agencies of government� as reasons for its proposed action.

The apparent failure of relevant authorities of government to call to order these recalcitrant organisations was another reason given by PENGASSAN. “The association recalls her communiquĂŠ issued at the end of the National Executive Council (NEC) meeting of October 13, 2017 held in Uyo, Akwa Ibom State. “One of the resolutions thereof was the condemnation of indigenous oil and gas companies and marginal field operators concerning their anti-labour posture and practices, including the termination of the employment of any worker who has indicated willingness to belong to the union,â€? the statement said. “Those who are threatened and compelled to disown the union are then treated as slave workers within their own country.â€?

PENGASSAN cited the case of Neconde Energy Ltd (of Nestoil Group of companies), which it described as particularly worrisome, as it relates to the issue of dignity in labour and infringement on workers’ rights to freedom of association, which it claimed

had led to the mass sack of workers by the organisation. “This company has not only conducted itself as being above the provisions of the extant laws and regulations guiding the operations of oil and gas companies in Nigeria, but has also severally boasted that no government agency can call it to order. “It was therefore no surprise that Neconde has defied multiple interventions from the Federal Ministry of Labour and Employment, the Department of Petroleum Resources (DPR) and the top management of Nigeria National Petroleum Corporation (NNPC) and Nigeria Petroleum Development Company (NPDC) for the company to toe the path of law and order and comply with Nigerian labour laws. “The company is apparently bolstered by the fact that it has continued, without any sanctions from government regulatory authorities, to flagrantly breach the provisions of the Personal Income Tax Amendment Act (PITA) and Pension Reform Act (PRA) by not remitting deducted income taxes and pension contributions to the Lagos and Delta States’ boards of internal revenue and authorised Pension Fund Administrators (PFAs) respectively. “The owners and management of Neconde have therefore made themselves to believe that they are above the laws and government of the Federal Republic of Nigeria,� PENGASSAN said of Neconde.

The union said having explored all other options to get the attention of government on these pivotal issues, it was left with no option other than to issue a shutdown ultimatum. “PENGASSAN gives the federal government and its relevant agencies seven-day notice to embark on a

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˾ FRIDAY, DECEMBER 8, 2017

PAGE NINE

Suspect Commits Suicide in Court Chiemelie Ezeobi A suspect, one Wasiu Alowonle, yesterday jumped to his death at the premises of the Ogba Magistrate’s Court in Lagos, where he was brought for the continuation of his trial.

Alowonle was said to have been arraigned before the court by the police for theft.

When his case was adjourned, he was taken to the Kirikiri Minimum Security Prison in Lagos,

pending his next court appearance before Magistrate O.I Raji.

But when he was brought by the prison officials to the Ogba Magistrate’s Court 20 to face trial for his charges yesterday, he jumped through the open window of the three-storey building.

It was gathered that upon jumping, his body smashed the window as he crashed to the ground and died on the spot before help could arrive.

The court prosecutor was said to have contacted the Isokoko Police Division on the death in the premises and they took the corpse away for investigation.

When contacted, the Lagos State police spokesman, SP Chike Oti, confirmed the incident, adding that the police were investigating the incident.

Oti said the corpse of the suspect was deposited in the morgue for autopsy before deciding on what to do with the body.

Lagos State Commissioner of Police, Edgal Imohimi

NJC REJECTS JUSTICE ADEMOLA’S RESIGNATION, RETIRES HIM, ANOTHER JUDGE COMPULSORILY O. O. Tokode of the same Federal High Court was also recommended to the president for compulsory retirement from office with immediate effect, sequel to the findings of council on the allegation contained in petitions forwarded by the Socio-Economic Rights and Accountability Project (SERAP) and Miss Abimbola Awogboro.

NJC said the petitioners accused the judge of misleading the Federal Judicial Service Commission and the NJC by submitting six judgments he claimed to have personally conducted while practising as a lawyer, a pre-requisite for his application for appointment as a judicial officer, and was so appointed.

NJC said: “The investigation committee of council, however, found that the judge personally conducted only one of the

six cases submitted.”

The council said it decided to recommend his compulsory retirement and the refund of all salaries and allowances he earned since his appointment to the position of a judge to the coffers of the judiciary.

In the interim, NJC said while exercising its power under Paragraph 21 sub-paragraph (d) of the Third Schedule of the Constitution, as amended, it had suspended Mr. Justices A. F. A. Ademola and O. O. Tokode from office with immediate effect.

The council also issued serious warning letters to Mr. Justice A. N. Ubaka of the National Industrial Court of Nigeria (NICN) for failing to deliver ruling in Suit No. NICN/BEN/51/2014 within the time specified time by law.

The council did not accept the reasons given for failure

to deliver the ruling within time.

The judge was also placed on the watch-list of the council for the next one year.

The council also issued a warning letter to Mr. Justice Zainab Aliyu Sadat of the High Court of Niger State and placed her on the watch-list for three years for claiming that the defendant in Suit No: NHSC/ MN/46/2016 failed to make available the authority cited by them after submission of the argument to her.

NJC, however, dismissed the petition written by Senator Ali Modu Sheriff, accusing Justice A. Liman of the Federal High Court of corruption for his failure to honour the invitation of the investigation committee on the three occasions that he sat to investigate the matter.

NJC said it also exonerated Mr. Justice Simon Akpah Amogeda of the Federal

High Court from corruption allegations by Ernest J. Henry for failing to substantiate the allegation against the judge.

The council took a decision to write the petitioner a warning letter for maligning the name of the judge.

Also yesterday, NJC exonerated Mr. Justice F. I. Kola-Olalere of the NICN from any misconduct in the petition written against him

by Samuel Atotuomah.

Mr. Justice B. B. Kanyip of the same court was also exonerated of allegations of corruption written against him by a lawyer, Adebayo Jegede, who did not attend the investigation committee panel to defend his allegation.

The council said it would report him to the Legal Practitioners Disciplinary Committee (LPDC) for making unfounded allegations of corruption

and for using crude and insulting language against the judge in his petition.

NJC also said: “The petitions written against Hon. Mr. Justice Adama Iyayi-Laminkara, Chief Judge, Rivers State, Hon. Mr. Justice Maria Sanda Zukogi, Chief Judge, Niger State, Hon. Mr. Justice Eyo Effiom Ita, High Court, Cross River State, Hon. Mr. Justices S. A. Orugboyo and R. I. B. Adebiyi, High Court, Lagos State, were dismissed by the council as all the petitioners withdrew them and council found no serious issues for further consideration in the allegations.”

But the council issued a warning letter to Mr. Justice A. M. Lawal of the Lagos State High Court. He was also placed on the watch-list for one year by the council for unnecessary delays in delivering his ruling and giving his personal phone

number to parties.

The petition written against Hon. Kadi Al-Hafis M. Abubakar of the Katsina State Sharia Court of Appeal

by Mr Ibrahim Mukhtar Mashi was also dismissed by the council for lack of merit.

The council also directed Hon. Mr. Justice Linda Amina Yarosi of the Customary Court of Appeal to resume duty from her sick leave immediately and was placed on the watch-list for three months.

NJC said all judges placed on the watch-list would not be elevated or considered for special assignments during the period they are on the list.

“Within that period, council reserves the right to consider their suitability or otherwise to continue as judicial officers based on their performance,” the statement added.

He also stressed the need to sanitise party politics by ridding it of vote buying and violence.

“What I saw in the elections in Kogi, Bayelsa and Rivers, the use of money and those things really upset me. I don’t wish to see that anywhere. I would not have won if money and killings were the mode of operation. That is my view of politics,” the president said.

It was also learnt that one of the prominent leaders of the party is expected to play a major role in the 2019 presidential campaign of the former vice-president.

Atiku was in Minna yesterday on what the PDP described “as a purely private visit”.

The former APC chieftain who recently defected to the opposition PDP, arrived Minna in his private aircraft at 12.15 p.m.

He was received at the Minna airport by the state deputy governor Alhaji Ahmed Mohammed Ketso and a team of PDP leaders in the state, including former governor, Dr. Mu’azu Babangida Aliyu, state chairman of the PDP, Alhaji Tanko Beji, his deputy, Alhaji Aminu Yussuf, Senator Shem Zagbayi Nuhu and the secretary of the party in the state, Alhaji Umar Santali.

From the airport, the former vice-president drove straight to the Minna hilltop residence of former military president General Ibrahim Badamasi Babangida.

Immediately after some formalities, Atiku went into a closed-door meeting with Babangida at 12.45 p.m.

The meeting between Babangida and Atiku lasted for almost two hours, after which he left for Abuja, declining to speak to the press.

BUHARI: MY KANO VISIT, RECEPTION IS A CLEAR MESSAGE TO THE OPPOSITION House in Kano, Buhari expressed his satisfaction with the massive reception he was given, saying: “Definitely, since this is partisan politics, I think it has sent a clear message to the opposition.”

Buhari, who was in Kano on a two-day visit, said the reception accorded him was impressive, while conveying his appreciation to the Emir of Kano, Alhaji Muhammad Sanusi II for the horse parade for him at the palace, which he reiterated was an affirmation that Kano State remains his stronghold.

He noted that during his drive around the city to inaugurate projects, he observed that many of those who thronged the streets to welcome him were young people who tried to get a glimpse of him.

The president pointed out that his administration has focused on major issues that will foster development in the country, stating that in the last two years, fighting corruption was a major challenge in the country.

He also said plans were afoot to ensure that the properties of corrupt persons are sold and the proceeds go into government coffers.

He assured his audience that his administration would not relent in its efforts to ensure that corrupt persons are

prosecuted.

In the area of agriculture, Buhari said rice imports had dropped by 90 per cent through the land borders, pointing out that he would continue to do his best to ensure that the country attains greater heights.

On the trans-border relationship with ECOWAS countries, the president said his government was working to establish a cordial relationship with neighboring countries.

The president also spoke on the issue of drug abuse, stating that his government will check the proliferation of hard drugs in the country, adding: “Many people have talked to me about this. That is why I have assigned a retired military officer to handle this. You all know about the performance of Hameed Ali (Comptroller General, Nigerian Customs Service). He is doing a good job and by God’s grace we will do more.”

He said his administration would continue to accord priority to education, so as to empower youths and enable them to contribute their quota toward the development of the country.

“If you educate people, you empower them. So we have to make sacrifices to prepare the youths for the future,” Buhari said.

Earlier in his remarks, Governor Abdullahi Ganduje

of Kano State said his administration was able to execute a number of projects, in addition to initiating various empowerment programmes for women and youths.

He said as part of efforts to address unemployment challenges, the state government had awarded contracts worth over N2 billion for the construction of a skills acquisition training centre which would soon be completed and put to use.

During Buhari’s visit to Kano, the state’s All Progressives Congress (APC) also endorsed him and Ganduje for second term in office come 2019.

The party’s stakeholders, in a meeting with the president yesterday at the Kano Government House, had in attendance Ganduje, his deputy, Professor Hafizu Abubakar, the APC state chairman and members of the party’s state executive committee.

Also in attendance were two of the state’s senators, members of the House of Representatives from the state, and the speaker and 34 members of the Kano House of Assembly, among others.

Others included Governor Muhammed Badaru Abubakar of Jigawa and other leaders of the party in the state.

Buhari, however, did not accept or decline the endorsement in his speech,

even after the party leaders promised to procure the nomination form for him and threatened to sue if he refused to contest in 2019.

The president merely beamed with smiles and went on to underscore the need for unity in the party and among the diverse peoples of Nigeria.

The Kano State chairman of the APC, Alhaji Abdullahi Abbas hinged their endorsement of the president on his achievements in the last two years, especially in the area of security, the war against corruption and, the restructuring of the economy.

“Security is important for everyone, not just for Borno, Yobe and Adamawa States, it is even more so for us as a commercial and industrial state.

“We are convinced that you are the best for these times when the country has begun to muster energy and resources to develop agriculture, infrastructure and empower younger citizens,” Abbas said.

On a humorous note, Ganduje said the party was prepared to drag the president to court to force his acceptance of the second-term ticket.

In his response, Buhari said he understood the clamour by the ordinary people on the streets who had raised four fingers on each hand, meaning four plus another four years.

Atiku to Declare for Presidency But as Buhari luxuriated in the endorsement of the Kano APC, it emerged that a possible rival in the presidential race in 2019, former Vice-President Atiku Abubakar was likely to formally declare his intention to contest the presidential election after the National Convention of the Peoples Democratic Party (PDP) holding in Abuja today.

A source close to the campaign organisation of the Waziri Adamawa said in Minna, Niger State, yesterday that all arrangements for the declaration had been completed and the former vice-president would declare for the presidential race after the convention.

“Atiku will formally declare his intention to contest the presidential election on the ticket of the PDP after the convention of our party,” the source said.

FRIDAY, DECEMBER 8, 2017Ëž T H I S D AY

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NEWS

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

FAAC: States to Partake in Reconciliation of NNPC Figures FG, states, LGs share N532.8bn for October Ndubuisi Francis Ă“Ă˜ ĂŒĂ&#x;ÔË The various states of the federation will now be part of the reconciliation team of the Nigerian National Petroleum Corporation( NNPC) revenue for the federation account to avoid discrepancies .

The Chairman, Commissioners of Finance Forum and Adamawa State Commissioner for Finance, Mallam Mahmoud Yunusa,

who disclosed this, said the NNPC owned up to the shortfall in its account which culminated in the call-off of the Federation Account Allocation Committee (FAAC) meeting penultimate week.

Yunusa, who spoke at the end of the FAAC meeting in Abuja yesterday said: “They agreed there was shortfall in the earlier account given to us, but no fraud was intended. So going forward, we would be

Abductors of Plateau Chairman Demand N100m Ransom

fully involved in the account. “In the reconciliation that took place, some state governors were involved, a committee was raised by the National Economic Council (NEC). “NNPC is own by federal government and states.

Whatever revenue generated by the NNPC is shared by federal government and states. If you are managing my business and I’m not satisfied with the figures you are given me, I have the right to ask question. And NNPC admitted there were

errors but the errors are not fraud intended. “We would be fully involved in the process, our consultant will be involved going forward.

So the disagreement is intended for agreement at the end of the day�, Chairman of Commissioners of Finance Forum said.

Meanwhile, the three tiers of government shared for November the sum of N532.758 billion.

The Permanent Secretary of the Federal Ministry of Finance, Dr. Mahmoud Isa Dutse, who

chaired the session in place of Minister of Finance, Mrs. Kemi Adeosun, told the media that the sum N443.045 billion was statutory.

Under this tranche, the federal government got N205.700 billion, state governments got N104.334 billion, local governments received N80.437 billion, N40.847 billion was shared as 13 per cent derivation proceeds to went to the oil producing states, while N11.726 was set aside as cost of collection to revenue generating agencies and Federal Inland Revenue

Services (FIRS) refund.

From Value Added Tax (VAT) disbursements, IsaDutse, stated that a total of N89.713 billion was shared with the federal government pocketing N12.919 billion, state governments went home with N43.062 billion, local governments were given N30.143 billion while N3.589 billion was set aside for cost of collection and FIRS refund.

Isa Dutse announced that funds in the Excess Crude Account (ECA) still stands at $2.308 billion.

Police launch manhunt John Shiklam Ă“Ă˜ Ă‹ĂŽĂ&#x;Ă˜Ă‹ Ă‹Ă˜ĂŽ Seriki Adinoyi Ă“Ă˜ Ă™Ă?

Abductors of Chief Damishi Sango, Plateau State Peoples Democratic Party (PDP) Chairman, who was kidnapped in Jere, Kaduna State on Wednesday evening, have demanded for N100 million as ransom for his release.

A source close to Sango said his (Sango) phone was used in contacting a chieftain of the party in Abuja to demand for the ransom.

Meanwhile, the party has, in a statement issued yesterday afternoon, charged the security agents to ensure that the party chairman, who was kidnapped alongside another chieftain of the party, Chief Emmanuel Mangni, his (Sango) son, his driver and orderly, is safely released. Â The statement signed by the state Publicity Secretary of the party, Mr John Akans,

said: “While we trust the security agents to be on top of the situation, we invite the families of those involved, friends, associates and our members at all levels to remain calm and continue to pray for their safety and quick return. “Information available to us indicate that travelling along with Sango in his car were Mangni, an elder and chieftain of the party, Sango’s son, driver and orderly. “Security agents have stepped into the matter, and have commenced preliminary investigations,� Akans reassured.

However, the Kaduna State Police Command has said special forces had been dispatched to rescue Sango and four others.

Spokesman of the command, Aliyu Mukhtar, said the Special Anti Kidnapping Team and the Special Tactical Squad were dispatched to locate and arrest the bandits.

Director Accused of Corruption Forfeits N329m, 24 Houses to FG A Federal High Court in Lagos has ordered the interim forfeiture of N329 million belonging to Anifowoshe Jamiu, Director in the state Ministry of Public Works Corporation.

Justice Mohammed Aikawa gave the order following an ex-parte application filed by the EFCC, through its counsel, Rotimi Oyedepo.

Justice Aikawa also ordered a forfeiture to the federal government, six flats of three bedroom, six flats of two bedroom, six flats of one bedroom, and four flats of three bedroom duplex, belonging to the director.

The court, according to the News Agency of Nigeria (NAN), also ordered the interim forfeiture to the federal government, of a semi-detached three bedroom flat, one unit of three bedroom terraces and a plot of land also belonging to the director.

The court ordered the EFCC to publish the orders in a national newspaper for the respondent to appear before the court and

show cause within 14 days why the properties should not be permanently forfeited.

In an affidavit deposed to by one of its investigators, the EFCC said that as a director of finance, the respondent Incorporated and used a company known as Maj Anny International Ltd, in which he is one of the directors, to divert public funds.

The deponent further stated that his agency traced N106.1 million, and N223 million to the respondent, which he allegedly fraudulently diverted to his company.

The deponent stated that the respondent used part of the proceeds of crime allegedly stolen, to purchase and acquire the said properties.

The EFCC’s counsel urged the court to grant the application as prayed.

After listening to the submission of counsel, Justice Aikawa granted the orders as prayed.

He adjourned the case until January 16, 2018 for hearing.

MEETING WITH COMMUNITY LEADERS

President Muhammadu Buhari (left), addressing his audience during a town hall meeting with community leaders in Kano State.... yesterday

Oando Shareholders Chide Adeosun over Alleged Interference in Forensic Audit Urge Buhari to respond, ask minister, Tinubu to resign James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË

observers as he had confronted several big investment firms, Shareholders of Oando Nigeria listed companies and their Plc yesterday expressed their directors with both civil and displeasure with the Minister of criminal cases, some of which Finance, Mrs. Kemi. Adeosun, are still pending in courts. over her alleged interference in He said the shareholders the forensic audit of the company fear his suspension, after by the Securities and Exchange a Federal High Court had Commission (SEC). thrown out the case instituted Specifically, the shareholders by the Oando management expressed their frustration over led by Adewale Tinubu, the recent suspension of Mr. was a ploy to frustrate the Munir Gwarzo as the Director investigation and provide a General of the commission. soft-landing for the company.

They particularly raised The firm’s investors also concerns that his suspension called for the resignation came even as the nation’s of Adeosun as minister and capital market was said to have Tinubu as the Group Chief witnessed increased activities Executive of company. since the assumption of Gwarzo Mukhtar said: “Kemi as the commissions helmsman. Adeosun must resign or The Chairman, Trusted be sacked because she has Shareholders’ Association, elected to be the tool for the Alhaji Mukhtar Mukhtar, told prevention of the investigation journalists at a briefing that into Oando Nigeria Plc to save Gwarzo’s disdain for market investors from the current infractions is known to many uncertainties. She is clearly no

longer fit to be the Minister of Finance; she can choose to join the management of Oando Nigeria Plc as a full staff since she’s already acting for the company. Kemi Adeosun must resign, Adewale Tinubu must resign and the forensic audit into Oando Nigeria Plc must continue.�

According to him: “Gwarzo should not be suspended because of his refusal to discontinue investigation into a dying company like Oando, whose management is making frantic efforts to prevent a comprehensive audit of its account.�

He said: “Tinubu must step aside to allow for unhindered forensic audit into the weighty  allegations against the company.�

The shareholders further called on President Muhammadu Buhari to be aware of the issues at stake

as the world was waiting to see how the investigation evolves.

Mukhtar said: “This is an opportunity for observers to ascertain the commitment of regulators to protecting shareholders and the investing public without unwarranted interference. “Shareholders are suffering because of the mismanagement of their investments; Oando Nigeria Plc is currently running on debts; the liability of the company are precariously more than its assets. Both current liabilities and long-term liabilities stood at over N799 billion...�

He said: “If left to remain this way, the company may cease to exist. As it stands, with the ongoing confiscation of the company’s assets by creditors, soon, banks may take over the whole company as we’ve seen in the case of Etisalat if nothing drastic is done.�

T H I S D AY FRIDAY DECEMBER 8, 2017

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COMMENT

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

LESSONS FROM ZIMBABWE

The Zimbabwean Constitution holds lessons for Nigeria, writes Simbo Olorunfemi

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ecently, I had to research Zimbabwe. One document I had to study was the Zimbabwean 2013 Constitution. Like almost everything about Zimbabwe, I was shocked. That constitution must be one of the most progressive constitutions I have ever seen.

Apart from it affirming the well-known gender-friendly disposition of Zimbabwe, it captures in one document many of the provisions our people are beating themselves up on whether to include in our constitution.

It provides for five tiers of government and accepts 16 languages, including sign language, as officially recognised languages of Zimbabwe. Sign Language! How progressive!

The constitution provides that the document must be translated into all these languages, widely distributed and be taught as part of the curricula in schools and training of security services.

It provides that “The State and all institutions and agencies of government at every level must endeavour to facilitate and take measures to empower, through appropriate, transparent, fair and just affirmative action, all marginalised persons, groups and communities in Zimbabwe.�

On gender balance, it provides, among other measures, for both genders to be equally represented in all institutions and agencies of government at every level; and women constitute at least half the membership of all commissions and other elective and appointed governmental bodies.

Along list of social rights we are striving to make justice-able here are enshrined in the Zimbabwean constitution. Rights, not just non-effectual principles, as laid out our own constitution, are what we have here.

Express provisions are made for the rights of children, women, the disabled, the elderly and the veterans of the liberation struggle. Citizens are guaranteed right to basic statefunded education and access to basic health care services� The state must take all practical measures to promote (a) free and compulsory basic education for children...The state must take appropriate, fair and reasonable measures to ensure that no person is refused emergency medical treatment at any health institution.�

Also provided for: “Every person living with a chronic illness has the right to have access to basic healthcare services for the illness.�

Even with respect to freedom of expression and access to information, there are constitutional guarantees here over and above what our Freedom of Information Act gives us. “Every person is entitled to freedom of the media, which freedom includes protection of the confidentiality of journalists’ sources of information.�

EVERY PERSON LIVING WITH A CHRONIC ILLNESS HAS THE RIGHT TO HAVE ACCESS TO BASIC HEALTHCARE SERVICES FOR THE ILLNESS

Access to information: “Every Zimbabwean citizen or permanent resident, including juristic persons and the Zimbabwean media, has the right of access to any information held by the state or by any institution or agency of government at every level, in so far as the information is required in the interests of public accountability.

Every person, including the Zimbabwean media, has the right of access to any information held by any person, including the state, in so far as the information is required for the exercise or protection of a right.

Every person has a right to the correction of information, or the deletion of untrue, erroneous or misleading information, which is held by the state or any institution or agency of the government at any level, and which relates to that person.�

There are so many other provisions which, for me, qualifies this as one of the most progressive and contemporary constitutions I have ever seen.

There is a two-term limit for the President. So, obviously, the problem with Zimbabwe, at least post-2013, cannot be the constitution.

How have some insistently argued that the problem is with our constitution, the 1999 Constitution, even when some of us have said it is less about the constitution and the system but how we, as a people, have applied ourselves to the system and the constitution in our hands. After all, some countries are successfully powering their systems on the back of a largely unwritten constitution.

How I wish it is that simple. How I wish it is just about the constitution.

As progressive as the Zimbabwean constitution is, difficult to say same with the politics that produced the constitution or has continued to be powered by it.

Since we are so convinced that our problem is our constitution and we are so determined to amend it, is it possible for the lawmakers to go back and examine the Zimbabwean constitution? If only some of these progressive provisions therein can be incorporated to make some of the basic social rights justice-able, then one can forgive them for the hundreds of millions wasted, over the years, on amendment of the constitution and obscene allowances earned by the lawmakers.

Zimbabwe has a good document here. The extent to which it made a positive impact on quality of life in the country, I do not know. But therein are provisions that speak to some of what we need and we will better off incorporating into ours.

Olorunfemi works for Hoofbeatdotcom, a Nigerian Communications Consultancy and publishers of Africa Enterprise

A SLOW AWAKENING

The local government election in Akwa Ibom State is a step in the right direction, writes Bassey Aniekan

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onducting a successful local government election in Nigeria cannot be taken for granted. Even though election of local government officials is a constitutional requirement, this has been breached over and over again. The fourth schedule of the 1999 constitution clearly states the functions of local governments.

Section 7(1) of the 1999 constitution clearly states that: “The system of local government by democratically elected local government councils is under this constitution guaranteed; and accordingly, the government of every state shall, subject to section 8 of this constitution, ensure their existence under law which provides for the establishment, structure, composition, finance and functions of such councils.� But as simple and straightforward as this provision is, many state governments all over the country would rather set up caretaker committees to oversee the affairs of local governments than allow the provision of the constitution to prevail.

This anomaly has so much gained wide acceptability that even the citizenry, who are expected to be beneficiaries of a well-run and structured local government system, are seldom worried about local governments elections not holding as at when due. That is the level of apathy of Nigerians towards local governments. While it is easy to conclude that this is happening because of lack of political awareness, the reaction of the electorate to other political matters will make such conclusions simplistic. For instance, is it possible for Nigerians to accept caretaker committees to oversee the affairs of the state government or the federal government when the terms of either the governor or the president elapses without any form of public outcry? But this is what obtains all over the country in the case of local government elections. When the tenure of local government chairmen ends, there

are usually different excuses why election of new officers could not be possible. Nigerians are used to the usual songs of lack of money; need to update existing voter’s register and many other excuses that are cited for lack of election into local governments.

Unfortunately, these are excuses no one dare give to elongate the tenure of any governor or president.

Agreed that Nigerians are docile and because of this, take many rubbish from their leaders, it is doubtful if they would allow caretaker committees to administer their state governments or the entire country under any disguise in a supposedly democratic dispensation. The rejection of the alleged third term bid of former President Olusegun Obasanjo is still fresh in many people’s memory. Although the former president never stood anywhere to proclaim his desire for a third term, it was widely rumoured that he was orchestrating another term for himself and Nigerians rejected this idea even before it could be berthed.

This forms the background to the importance attached to the just concluded local government election in Akwa Ibom State. For many years in a democratic dispensation, the people of the state like many others in Nigeria have been ruled at the local government level by caretaker committees. No wonder their joy knew no bounds as they trooped out to cast their votes in the last council election.

The massive turnout of the electorate suggests that the people are politically enlightened and would like to take their destiny into their hands if allowed to do so. Last Saturday offered the people of Akwa Ibom the privilege of electing their own local government chairmen and councillors-something that has become rare these days. Twelve political parties were said to have participated in the election into 31 local governments and 329 wards in the state. The Peoples Democratic Party won in all the local governments in the state. Of course, the main

opposition party has kicked against the result of the poll but independent observers that monitored the election said the election was generally peaceful.

For instance, the Inter Party Advisory Council in a statement after the election said the elections were peaceful, free and met credible standards of democratic tenets. While congratulating winners, it implored them to see their victory as victory for the people of the state. It equally commended the governor of the state, Udom Emmanuel, for his commitment to participatory democracy at the grass roots, which it said, has placed Akwa Ibom among the few states in Nigeria that have successfully conducted local government election.

Indeed, the governor, many believe, truly deserves some commendation, for being able to pull this through, especially in less than three years into his tenure. The governor too was equally elated that the election was hitch free as reflected in his speech after casting his vote. He had said the election was exceptionally peaceful. “The massive turn out of voters in the exercise has confirmed the desire of the people to put in place a democratically elected government at the grass root and we are optimistic that election being a contest of numbers would see the best candidates emerge victorious.�

Perhaps in response to complaints of few hitches here and there, he had said it was very rare to have a hitch free election anywhere in the world. For him, conducting local government elections without experiencing a spill of blood could only be a divine blessing. Truly, that may not be an exaggeration.

Elections in Nigeria especially at that local level can be bloody. Politicians bring in all their arsenals to dislodge the opposition. In one of the states where local government election was conducted recently, the daughter of one of the aspirants was kidnapped to force the father to pull out of contesting in the election. Of course, it worked. The man pulled out

and immediately he announced that he was no longer interested in contesting for the position, his daughter was released. That is how dirty election at that level has become in the country.

Even Emmanuel’s predecessor who is also the Senate Minority Leader, Senator Godswill Obot Akpabio, couldn’t help but join in applauding his successor’s achievement after casting his vote at Ukana West, Ward 2, Independence High School polling unit, in Essien Udim Local Government election. He poured encomiums on the governor for the peaceful conduct of the election.

Truly, there are still many states in the country yet to conduct local government election. The governor of one of these states recently said he was not ready for the election because there was no money. But the earlier we start thinking of protecting and preserving the sanctity of our democratic organs, the better it is going to be for us as a nation.

Local governments are part and parcel of democratic organs in Nigeria’s constitution and we must as a nation work towards preserving our rule of law at all times. This is what makes for development in every civilised part of the world. It is important to harp on the need for our leaders to strictly adhere to constitutional provisions on local government election. And that is why governors like Udom Emmanuel should be applauded for taking the bull by the horn and doing what is right in spite of daunting financial challenges that may be bedevilling the state.

The ultimate goal of creating local governments is to bring government closer to the people at the grassroots. Several local government reforms in Nigeria have been aimed at accelerating development and fostering the participation of the local population in governance to enhance accountability and good governance.

Aniekan wrote from Uyo, Akwa Ibom

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EDITORIAL ORDEAL OF THE IKOYI WHISTLE-BLOWER Government must do more to rekindle public trust in the whistle-blowing policy

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whistle–blower was insane and might not be able to manage the windfall? Equally troubling is the deluge of “whistle-blowers� now laying claim to the money: Was this not supposed to be a discreet operation? Why is paying the informant a media event? Is the EFCC not aware of the identity of the informant? With all the information in the media, is it not possible that one day, the informant will be named and exposed, with all the risks and dangers? Why is the whistle-blower subjected to all these ordeals?

Besides, was the Ikoyi money really looted from the treasury and if yes, why is nobody on trial for such a misdeed and if no, who is responsible for a situation in which government is giving away such huge money?

he controversy surrounding the reward to the whistle-blower who instigated the process that led to the discovery of over N13 billion at the Osborne Towers, Ikoyi in Lagos, has not only opened the government to ridicule, it has raised several questions about the whole policy. It has also revealed that when it comes to keeping agreements, our government cannot be trusted to do the right thing at the right time.

According to Professor Bolaji Owasanoye, Executive Secretary of the Presidential Advisory Committee Against Corruption (PACAC) at a recent event titled “Tracking Noxious Fund,â€? a whistle-blower was entitled to between 2.5 per cent and ďŹ ve per cent, provided there was a voluntary return of stolen or concealed public funds. Owasanoye, who was part of the team that drafted the law, argued that “if you blow the whistle and it is below N500m, you get four to ďŹ ve per cent because the higher the amount that is recovered, the lower THE INSINCERITY the percentage that is given. This is the IN KEEPING TO ITS global best practice.

WORDS MAY BE DOING INCALCULABLE DAMAGE If the recovery is TO THE ADMINISTRATION between N500m and N1bn, you get THAT IS ALREADY WEIGHED DOWN BY MANY three to four per cent. If it is N1bn NEGATIVES and above, it is 2.5 per cent.�

Given such declaration by PACAC that has been pushing the policy, some of the pertinent questions that arise are: If the policy is this clear, why are there so many discordant tunes between and among the agencies of government, PACAC inclusive? Why is there a sharp dispute over the percentage to be paid to the Ikoyi whistle-blower?

What is causing the delay in paying the person within one month as stipulated in the law?

More importantly, what led to the damaging insinuations in some quarters that the

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imed at enhancing accountability and transparency in the management of public funds, the whistle-blower policy was introduced by the Buhari administration which is overly concerned about curbing corruption in public places.

It was a policy greeted with enthusiasm by the people, many of whom are victims of the vicious cancer of corruption and which manifests in contract ination, embezzlement of salaries and pensions, diversion of funds meant for infrastructure, and related issues.

At the last count, hundreds of billions of naira had reportedly been recovered through the policy, monies which the government has pledged to deploy in the renewal of infrastructure. But since nobody is certain about anything concerning this government that believes in substituting propaganda for substance, the public is getting increasingly cynical about what they are told on looted money. But beyond that, the insincerity in keeping to its words may be doing incalculable damage to the administration that is already weighed down by many negatives.

The federal government must therefore do more to rekindle public trust in a policy that is fast becoming another administrative tool that is subject to the whims and vagaries of the men of power.

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.

Letters to the Editor

ATIKU AND THE LAST BUS STOP

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hat Atiku Abubakar has resigned his membership of the All Progressives Congress (APC) is no longer news. The interesting aspect of this episode is that as speculated, he has finally reunited with his former party, the Peoples Democratic Party(PDP). To Atiku and his teaming supporters scattered across the states of the federation, it is more of a homecoming as he explained that the issue that made him leave the PDP in 2013 has been resolved.

With the above in mind and considering our nation’s political platform where swapping of the tent is part of the game, one can safely situate that he committed no offence. But what made this development newsworthy is the frequency of these political switches which I view as both perennial and incessant. Added to this is the fact that he in 2013 declared that All Progressives Congress will be his last bus stop. These two reasons to my mind accounted for the ripple reactions that greeted his recent actions.

However, to the keen political watchers, the above remains a non - issue as our nation’s political space has become a ‘perfect market’ characterised by free entry and free exit. It is also seen as a platform where promises are not kept and words not honoured. These developments we have seen politicians demonstrate in recent times.

So, Atiku might have learned from our political history which is littered with a long list of politicians that took this part in the past.

To further illustrate the above, Chief Olusegun Obasanjo, shortly after the demise of General Sani Abacha and he (Obasanjo) subsequent release from prison in 1998 told the world that he was

not interested in the nation’s presidency. He went ahead to query how many presidents Nigeria wants to make out of him? But the rest is now history as we all witnessed what later played out. On his part, Peter Obi stated in the time past that he will never leave All Progressives Grand Alliance (APGA). But today, he is a cardcarrying member of the Peoples Democratic Party (PDP). Again, our dear President Muhammadu Buhari after the 2011 presidential election stated that he will no longer contest for the presidency. But today, he is our president and chances are that he may go for the second term.

Having looked at the above, Atiku as a political veteran may have learned that in war,’ whoever that arrives first and take a position is at ease while he that arrives late labours. This fact to my mind must have informed his decision for this early departure while using non- inclusion of youths in the APC scheme of things as a political bullet-proof. This is permissible as he is entitled to the freedom of association as enshrined in the nation’s constitution.

Critically important in my opinion is that these inter, counter and cross opinions may not be necessary as our nation’s political climate is neither hot nor cold and as a result, allows anybody to be at any place he/she may deem suitable.

In the same fashion, Atiku that is driven by personal ambition to become the Nigerian president someday, must have realised that APC, as it is currently positioned, is an encamped ground where he cannot do political battle and win, hence his decision to hand in his resignation in order to reunite with his first love, the

PDP. But in doing this, the Waziri of Adamawa again failed to remember that hearing the sound of thunder does not translate to a keen ear.

The above position is hinged on my conviction that he may not be aware that the people’s support is the greatest assert he enjoys.

That alone should have compelled him to honour his word as whispered in 2013.

But, with his sudden decision to move beyond the final bus stop, will he ever be trusted by his followers? More so, Atiku is oblivious of the fact that what binds every follower to their leaders is unwavering fate built on trust. Correspondingly, no one seems to have reminded the former VP that as a leader, he is watched closely, that people are noting every move he makes, that his followers are learning a great deal about him and what he really believes as opposed to what he said. This time to my mind is both trying and defining moment for Atiku Abubakar.

While this waiting game continues, it is imperative for the former VP to remember that switching of political tent shares two sorrowful characteristics with borrowing. First is this belief that once you start borrowing, it becomes your character. Based on this fact, chances are that we may see more political movements coming from his quarter in the nearest future. Secondly, in borrowing, your reputation depletes. Invariably, in the estimation of Nigerians, this switching of political camps must be depleting the hard-earned reputation of the onetime vice-president of Nigeria.

Jerome-Mario Utomi, jeromeutomi@yahoo.com

T H I S D AY ˾ FRIDAY, DECEMBER 8, 2017

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

POLITICS A N A LY S I S

Who Leads PDP?

In less than 48 hours, the die will be cast and a new chairman of the Peoples Democratic Party will emerge. Segun James examines the machinations that have made it impossible for a consensus candidate to emerge We know that if we do not get this right, the party will be the loser

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fter two years of hiatus, the Peoples Democratic Party (PDP) appears to be getting its groove back. The party is not only on its way from the edge of extinction, but preparing to give the ruling All Progressives Congress (APC) a run for its money.

With many of its former members who decamped to the APC at the height of the leadership crisis that rocked the party towards and immediately after the 2015 general election on their way back, the PDP is indeed back; and roaring to go.

However, the great revival of the party will be depend on what happens this weekend as the party moves to elect a new leadership that will shepherd the party to the 2019 election.

Unless the party gets this particular act right, it may be headed back to political doldrums.

So far, the party has achieved a political coup in the return of a former Vice President, Alhaji Atiku Abubakar back to its fold. This has triggered the return of many others. To many, this may not be much, but for members of the party, it is indeed the catalyst that is now propelling a rebirth in the party.

For much of the past year, as Nigeria was plunged into economic recession and political stagnation, the PDP was comatose and unable to play its role as the opposition party in the country.

But with a new and rejuvenated leadership, Nigerians will have a choice at the 2019 election.

In the PDP today, there are nine aspirants locking horns to clinch the national chairmanship position, the most coveted trophy.

Geographic balance is, relatively speaking, the strength of the Nigerian political system.

The PDP understood this and had exploited it to its advantage. However, President Muhammadu Buhari and his party appear not to have mastered this time tested system. However, that will definitely depend on who the PDP fields, and how the party will effectively convince Nigerians that it will not repeat the mistakes of the last time.

If hegemons are good for anything, it is for conferring stability on the system they dominate.

For 16 years, the PDP had been the superpower of the Nigerian political system before it was dislodged. But from all indications, it is set to come back; but on the condition that it gets its cards right.

But the race for the national chairman of the party has created a sharp division among party members to the extent that a group of northern elders led by Professor Jerry Gana who preferred the south-west zone for the national chairman is now pitched against a group of northern youths who are rooting for a candidate from the south-south zone.

The group, led by former Adamawa State acting governor, Umar Fintiri and a former House of Representatives member, Sani Kutigi wanted the chairmanship position reserved for the entire south of the country.

The northern PDP youths dissociated themselves from the resolution of the PDP northern elders that the south-west should produce the party chairman. The PDP youths described as obnoxious and objectionable the plot by some party members from the north to micro-zone the National Chairmanship of the party to the south-west in a bid to give advantage to a preferred aspirant.

The PDP youths declared that the plot was contrary to the agreed arrangement of the party, which they said remained unchanged.

“Their action is hereby rejected and totally condemned. Majority of members from the north dissociate themselves from this misadventure, which portends unintended consequences if left unchallenged.

Okowa

“It is an insult to southern politicians and leaders that few members from the north could sit down and determine who to elect as chairman.

“Party members from the north pledge to support only a free and fair process where a new national chairman will emerge regardless of where he comes, so long as he is from any state in Southern Nigeria,” they said.

But despite the cries of the youths, the elders in a communiqué signed by former Kano State governor, Ibrahim Shekarau and former speaker, Benue State House of Assembly, Margaret Icheen after the meeting of the PDP Northern Elders and Leaders Forum urged northern delegates to vote for only aspirants from the south-west zone.

“As we head to the national convention, the forum showed keen interest on the position of the national chairman.

“After extensive deliberations, it was resolved that, in the spirit of fairness, equity, giving every geo-political zone a sense of participation and inclusion in the affairs of the PDP, we strongly support the southwest zone to produce the next chairman of the party.

“This is without prejudice to the right of aspirants from other geo-political zones to contest,” it stated.

With these sharp divisions, leaders from the region have pitched their tent with different aspirants vying for the office of the national chairman of the party. It means that whoever emerges the national chairman will face a daunting task of not only shepherding the party towards an election that is barely 14 months away, but will also spend a considerable time trying to reconcile warring members and political enemies who may constitute obstacles in the run towards the election.

The national leadership of the party had zoned the office of the national chairman to the southern part of the country, while it also ceded the presidential ticket to the north.

However, the party has refused to micro-zone the office of the national chairman to any of the three geo-political zones in the southern region.

While no candidate has shown interest in the race from the South-east, two have emerged from the South-south and seven have shown interest from the South-west.

In the race are Chief Olabode George, a former deputy national chairman of the party; Prof.

Tunde Adeniran, a former minister of Education; Prof. Taoheed Adedoja, another former minister; Mr. Jimi Agbaje, the former Lagos state governorship candidate of the party in the 2015 election and Uche Secondus, a former acting national chairman of the party.

Others are Otunba Gbenga Daniel, a former governor of Ogun state; Chief Rasheed Ladoja, former governor of Oyo state; Dr. Raymond Dokpesi, a media mogul and Chief Akintayo Akin-Deko.

The party has recently been agitated over allegations by some of the national chairmanship candidates of favouritism by the National Caretaker Committee, NCC towards one of the candidates. Two of the major candidates, Chief Bode George and Prof. Tunde Adeniran had recently called for the resignation of Senator Ahmed Makarfi as chairman of the NCC on the basis of the allegations. Prof. Adedoja warned yesterday that if the South-west does not produce the next national chairman of the party, there would be consequences for the PDP, especially in the 2019 general elections.

Also a former Minister of Finance, Mrs. Nenadi Usman, who is aspiring to be the first female national secretary of the party, expressed concern about the acrimony that has shadowed the contest for the office of national chairman.

Already there has been a call and a plot for a second and parallel convention. The possibility of this forced the Bayelsa State governor, Mr. Henry Seriake Dickson, to appeal to leaders

and members of the PDP to eschew rancour and divisive tendencies that could mar the convention of the party.

Dickson, in a press release by his Special Adviser on Public Affairs, Daniel Alabrah, urged members to close ranks and put aside selfish interests for the overall interest of the party and the country’s democracy.

“The December 9 convention of our great party offers yet another opportunity for all leaders, members and contestants for various offices to close ranks, show commitment and loyalty to the PDP as well as enhance the democratic culture of tolerance and sportsmanship,” he said.

The governor who was chairman of the party’s reconciliation committee, condemned the reported plot by a group within the party to hold a parallel convention, noting that the PDP had had enough of crises and that there was no better time to rebuild the party than now.

He added that Nigerians looked up to the party to provide strong leadership, especially at this critical time in the nation’s democratic experience.

“I call on all party leaders and aspirants for various offices to prepare for the convention.

Elders and leaders of the party at all levels should also support the caretaker committee to deliver a successful convention.

“A rancour-free convention is a sine qua non to get back to power again at the centre in 2019.

So members and all contestants must subsume their individual interests in the overall interest of our party and the brighter future ahead of us,” he said.

The Chairman of the PDP National Elective Convention Planning Committee and Governor of Delta State, Dr Ifeanyi Okowa had also warned members of the party against doing anything that will undermine next Saturday’s national convention saying that the party will die if it fails to conduct a free and fair elective convention.

Okowa said that the convention would either make or mar the party even as he warned those seeking to be elected as members of the party’s exco to put the interest of the party above their personal interest and refrain from doing anything that would make the election not to be credible.

“If we allow any manipulation, PDP will die”, he added.

In this regard, he said about 50 members of the electoral committee who are also delegates with voting rights had been asked to step down as members of the electoral committee. This, he said was done to ensure that the results of the votes reflect the decision of the delegates who would have the freedom to choose those they wanted to run the affairs of the party.

He also dismissed claims that a governor was funding the convention so that his candidate for the chairmanship office would be supported for the post.

Okowa said: ”It will not be easy for anyone to influence the process. We know that if we do not get this right, the party will be the loser.

We have talked to ourselves.

“This is the convention that will make or mar the PDP. There are 21 national officers, 19 are being contested. We will deliver an election that is credible. The convention will strength the PDP. It will be free and fair. It is going to be a serious business. No fun fare. No dancing.”

Whoever emerges the chairman tomorrow has an unenviable task ahead of him.

T H I S D AY FRIDAY DECEMBER 8, 2017

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T H I S D AY ˾ FRIDAY, DECEMBER 8, 2017

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POLITICS

NEWS PERSONALITY

Onnoghen: Restoring Confidence in Judiciary The Chief Justice of Nigeria, Justice Walter Onnoghen took over the leadership of the judiciary at one of the most difficult periods in the history of the institution.

Quietly, he has been turning the fortunes of the judiciary around for good, writes Tobi Soniyi A Turbulent Start The Chief Justice of Nigeria, Justice Walter Onnoghen took over the baton of leadership of the judiciary at a very difficult period in the history of institution.

While past CJN got their appointments as a matter of course, Onnoghen was first appointed in acting capacity. He was not appointed a substantive CJN until after the expiration of his acting tenure.

That apart, he took over as CJN shortly after houses of judges including that of Supreme Court justices had been raided. Never had the judiciary been so decimated. Not even when the military were at the helms of affairs was it so bad for the judiciary.

Becoming the CJN at such a low period in the history of the nation meant that, the new CJN had his job cut out for him. The expectation on him was very high.

A Blessing in Disguise One advantage of taking over the leadership of an institution in crisis is that it provides the new leader with a rare opportunity to prove himself not only as a problem solver but as an administrator. Therefore, the situation which Onnoghen inherited provided him with the opportunity to show the quality of leadership in him. In view of the quiet manner in which he stabilised the judiciary, many believe that he has not disappointed.

First, he tactically avoided joining issues with the executives. One of the easiest ways to continue to fan the ember of hostility between the judiciary and the executive was to keep exchanging tirades.

Secondly, he insisted that rule of law must be the basis of engagement with other arms of government. While not opposed to investigating judges and the judiciary for corruption, Onnoghen insisted that rule of law be observed.

On November 10th 2016 when he was sworn in as acting Chief Justice of Nigeria by President Muhammadu Buhari, Onnoghen promised to join the fight against corruption and address misconduct in the judiciary.

He also promised to introduce changes that would give the nation a befitting judiciary.

He said, “In this state of our development and with your programme, I assure you of the full cooperation of the third arm of government in the continuation of the war against corruption and misconduct in the judiciary.

“I intend to carry on where my predecessors stop, modify certain areas but with the general ultimate aim of having a better judiciary befitting the nation Nigeria.”

On March 7, 2015 when he was sworn in as the substantive CJN by Vice-President Yemi Osinbajo who then was acting as president, Onnoghen renewed his promise to fight corruption in the judiciary.

He however insisted that he would work as CJN in accordance with the rule of law.

The CJN had said: “As I stated earlier on the 10th of November, I pledge my loyalty to the Federal Republic of Nigeria. There are three arms of government and these three arms belong to the same government. We should explore areas of cooperation to enable us move the country forward.

“On my part as the head of the judiciary, I assure you that from the past experience, the key to everything in a democratic setting is adherence to the rule of law. There lies the solution to our problems. Let us try to encourage the independence of the judiciary so as to ensure the rule of law. If everyone realises that they are subject to the rule of law and that there are certain things that are tackled according to the rule of law and behave accordingly, it will benefit all of us.”

Onnoghen

Bar and Bench Crucial to Solving the Gridlock As an experienced legal practitioner before he was appointed a judge, Onnoghen immediately brought to bear on his job as the CJN, his experience as a lawyer. He knew that the bench alone could not resolve the perennial and seemingly intractable challenge of slow pace of trial in our courts. This informed his decision to form a committee that comprises not only lawyers and judges but a member of civil society. The National Judicial Council Committee on the Monitoring of Corruption Cases.

That is an innovation that if sustains will dramatically change the frosty bar and bench relationship. This is because, whatever the solutions the committee comes up with will enjoy a collective ownership of solution. Past efforts to address this problem fell short partly because the bench tried to impose its ideas on judicial reform on the bar.

After Justice Ayo Salami, rtd rejected the chairmanship of the committee, Justice Suleiman Galadima, who recently retired from the Supreme Court was appointed to replace him. With this initial hitch aside, the committee has set to work.

Already, the committee has started sitting.

Among others, it has resolved to produce a new practice directions that will fast track the trial of cases involving corruption and

Also, it is difficult to beat the experiences of the members of the committee.

On this note alone, it is even more difficult to fault the CJN’s reasoning for making the committee this large.

financial crimes.

As parts of the committee’s decision to engage all stakeholders, it had also concluded plans to meet with the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and other agencies with powers to prosecute in furtherance of its mandate.

The practice directions sub-committee of the committee has already commenced a review of various practice directions by leveraging on both local and foreign comparative jurisdictions to meet global best practice.

The committee, after brainstorming on all the pending alleged corruption and financial crime cases submitted to it by the heads of court came to the conclusion that a new practice direction would be issued to judges handling the said cases.

The committee said, it was imperative that other critical stakeholders buy into the mission of the body, saying that regular updates and advocacy postings on sub-committees’ activities must be a permanent feature of the project.

Many have criticised the committee as unwieldy because it has 15 members. Others did not like the idea that past the president president of the Nigerian Bar Association and past presidents were members of the committee.

With 2,306 on-going alleged corruption cases nationwide already submitted to the committee while may chief judges have yet to comply with the CJN’s directives to send such cases to him, no one should be left in doubt that this is not a task for three men.

Besides, the issues involved are multifaceted requiring different experience and expertise.

Also, it is difficult to beat the experiences of the members of the committee. On this note alone, it is even more difficult to fault the CJN’s reasoning for making the committee this large.

To facilitate its work, the committee has sub-divided into four sub-committees.The sub-committees are; Practice Directions, Training, Feedback and Engagement, and

Awareness.

The committee also divided the country into three zones for ease of monitoring and evaluation of the said cases.

The zones are: Zone A, Abuja FCT, Zone B, Northern Zone and Zone C, Southern Zone. At the last count, Zone A in Abuja has 554 pending alleged cases, Zone B has 347 cases, with Zone C having 1, 405 cases.

The CJN Must Review Judiciary Workers’ Salaries Justice Onnoghen isn’t going to solve all the problems facing the judiciary by setting up only a committee to fast-track looters trial.

He needs to do more than that. Perhaps, the biggest legacy he can leave behind is to immediately set up an adhoc committee to review the salaries of judiciary workers.

These workers are the engine room on which the judiciary depends to deliver an effective justice system. But for so long, they have been left behind. Many workers in the judiciary have difficulty paying their rents. This makes then vulnerable to lawyers who want to circumvent due process. The workers’ housing allowances must be upwardly reviewed. It must be done very urgently too. If this is done, the CJN will see a different judiciary.

A New Judiciary is Possible The judiciary needs to be more proactive in its response to the demand of its audience. At present, the reactive nature of the judiciary is no longer serving the interest of this institution.

Why waiting for judicial officers to commit a corrupt act when it is possible to stop the commission of that act? There is therefore the need to establish an inspectorate department in the NJC. This department will in turn give out direct numbers to court workers across the country and latter to the public to call in to report verifiable acts of judges that violate their codes of conduct. This sound radical, but the crisis in the judiciary requires a radical approach.

The judiciary can learn a lesson from the whistle-blowing policy introduced by the executive, borrow from it and with some modification adopt the approach.

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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 7.17% 7.75%

CALL 1-MONTH 3-MONTH

9% 9.67% 10.83%

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157

N O V E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

310.91 % -0.08% 0.20%

2 3 ,

S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 1 7

5.23% 18.59%

EXCHANGE RATE N305.95//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Emirates Oers Special Flight Deals

FINANCIAL INCLUSION CONFERENCE

L-R: Dean, Lagos Business School, Dr. Enase Okonedo; Head, CBN Financial Inclusion Secretariat, Mrs. Temitope Akin-Fadeyi; Academic Director, Lagos Business School, Dr. Olayinka David-West; Programme OďŹƒcer, Financial Services for the Poor, Bill and Melinda Gates Foundation, Dr. Abi Jagun; Chairman, House Committee on Banking and Currency, National Assembly, Honorable Jones Onyereri; Professor of Legal, Social and Political Environment of Business, Lagos Business School, Professor Olawale Ajai, during the Financial

Infrastructural Deficit Threatens FG’s Rail Transport Programme Eromosele Abiodun The federal government’s quest to ensure Nigerians embrace rail transportation has continued to suffer setbacks owing to huge infrastructural deficit and the lack of investment in modern locomotives, that have resulted in decline in passenger traffic.

The maiden report on railway passenger traffic provided by the Nigerian Railway Corporation (NRC) and the National Bureau of Statistics (NBS) revealed that the total traffic in second quarter (Q2) 2017 stood at 596,792 passengers, representing decreases of 22 per cent quarter- on- quarter (q/q) and 20 per cent year-on-year ( y/y).

Although increased efforts have been made by the FGN to improve rail transportation, infrastructural deficit still exists.

The Federal Ministry of Transportation projects a total of

MARITIME $36 billion to complete railway connectivity across the country.

The report revealed that there was a total of 1,866 trips (passenger and freight) by rail in the Q2 compared with 1,755 trips recorded in the first quarter (Q1)of this year.

The report revealed that the Lagos mass transit train service (from Iddo/Apapa to Ijoko) recorded the highest number of passengers – 427,760 in total.

Meanwhile, the Minna to Kaduna train service route recorded the lowest passenger traffic, just 573.

The report also cited logistics as a drawback within the agriculture value chain as supply of farm products to end-users remains a challenge.

During the period of review, freight traffic via rail recorded a total of 16,159 tons, with fertiliser accounting for 44 per cent of

the total while animal feeds represented only 3 per cent.

However, analysts at FBN Quest believe that the FGN’s plan to inject over 100 cargo trains into the rail transport system will boost product distribution across the country. “Additionally, the government has secured a loan of $1.5 billion from the China Exim Bank to complete the construction of the Lagos-Ibadan railway network route. Rail is not particularly popular in Nigeria when compared with other transport options. “But it is necessary that the government continues to invest in / attract investment into the network. Although rail is unlikely to change the behaviour of certain segments of the population, it will reduce the burden on the road network, especially from heavy duty goods, “said FBN Quest.

In a related development, FBN Quest noted that air transport

grew by just 0.1 per cent year on year y/y following the recent exit from recession. “The sector has suffered from relatively low patronage due to softer demand. However, business travel continues to drive air passenger traffic across the country. For domestic travellers, ticket fares doubled earlier in the year and have remained high.

Passengers could then secure a return trip ticket for$85 on the Lagos-Abuja route. However, the cost has now risen as high as $175 on the current domestic providers (Arik Air and Air Peace). We expect even higher prices over the next month as we approach the festive season. “High operational costs lie behind the increased ticket fares. To give one example, aviation fuel accounts for about 40 per cent of operational costs.

Industry sources indicate that the price of aviation fuel currently Continued on page 20

Nigerian Airlines Shun Expatriate Pilots, Save over N5bn Annually Chinedu Eze Nigerian airlines may have saved over N5billion annually by rejecting foreign technical personnel, especially pilots and engineers.

Economic hardship, outrageous salaries and allowances paid to expatriate pilots and engineers forced domestic carriers to look homewards and start training the locals.

THISDAY investigations reveal that the airlines are saving hugely by that decision and have also expanded their training of indigenous personnel who now rise to become captains to man their flights.

Airline operators said they spend about 40 percent of

AVIATION their revenues on aviation fuel, while about 30 percent of their resources are spent on pilots’ emoluments and this is doubles when they are expatriates.

Spokesman of Dana Air, Kingsley Ezenwa told THISDAY that in the past five years, the airline adopted training strategy in which it concentrated on training indigenous pilots and engineers and presently almost 90 percent of pilots and engineers in the airline are Nigerians. “In Dana Air we are doing more Nigerians and training them regularly. We are no more bringing expatriates

and we have recruited staff from even other indigenous airlines,� Ezenwa said.

Also the head of Communications of Air Peace, Chris Iwarah, told THISDAY that the airline does not have expatriate pilots and engineers, noting that all the airlines pilots, from captains to flight officers are Nigerians. “The engineers we have who are expatriates work under BCT Aviation who do routine maintenance. They work together with our engineers. BCT Aviation is our contractors. We have only one expatriate captain; all others are Nigerians. But as we are poised to go international soon, we may engage some expatriates.

We don’t even have expatriate engineers.

An operator told THISDAY that few years ago, Nigerian airlines hired expatriate pilots because of reliability and the fact that after training Nigerian pilots they don’t often stay with the airline that trained them long enough to justify the resources expended on their training.

But now many domestic carriers have upped their remunerations to make them stay and work in the country. “In developed countries if you finish with 250 hours you don’t go to airlines, you go to flying school till you get 1,500 Continued on page 20

Emirates has announced its Hello 2018 fare sale, oering special deals on Economy class and Business class ights to popular destinations for Nigerian travellers.The airline said for those looking to take their dream holiday or visit loved ones (for/before) the New Year, take advantage of the sale by booking early.

The special sale includes six destinations across Emirates’ global network for a travel period beginning on December 4, 2017 and ending on December 17. The second phase begins on January 15 and ends June 30, 2018. Emirates said trips from Nigeria to New York (JFK) on Economy class is $1144 and on Business class is $5370; From Nigeria to Sydney on Economy Class is $2330 and on Business class is $7,776; from Nigeria to London on Economy class is $1,020, while to Manchester on Business class is$3273. Also from Nigeria to GuangzhouonEconomyclassis$855andonBusinessclassis$3,736; From Nigeria to Dubai on Economy Class is $822 and on Business Class is $3,127; and from Nigeria to New Delhi on Economy is $965 while to Bombay on Business class is $2661. Passengers who travel Emirates can enjoy over 2,500 channels of entertainment and ďŹ lms, including (your market) ďŹ lms, through ice, Emirates’ award-winning in-ight entertainment system.The airline said passengers across all cabins would be served a variety of ďŹ ne wines and regionally inspired cuisine prepared using fresh ingredients, adding that they would also experience the famed hospitality of the airline’s multi-cultural cabin crew, including crew from (your market). Emirates also oers passengers a generous baggage allowance of up to 35Kg in Economy Class, 40Kg in Business Class and 50Kg in First Class.

S’African to Review Open Skies Deals

In order to protect its national carrier, the South African Parliament had directed government to review the open skies agreement the country signed with other nation with the objective to protect South Africa Airways (SAA). The call was made during a brieďŹ ng of Parliament’s standing committee on ďŹ nance by SAA on recently, as the parliamentarians said it could be time for the state-owned airline to talk to the minister of transport about reviewing the open skies policy in the country. At the brieďŹ ng SAA said it estimated that its losses would amount to more than R4 billion at the end of the current ďŹ nancial year. “Our skies are too open. We are not saying a plane should not come straight from Dubai to Cape Town, but sometimes it brings unintended consequences to our own national carrier,â€? said one of the MPS. “Deregulation was not extended to cover cross-border or long-haul international ights. Those are still governed and conducted in terms of tightly prescriptive bilateral air traďŹƒc agreements, which are negotiated on a government-togovernment basis. “Most importantly, the bilateral agreements are based on the principle of reciprocity. Under this system, both of the states nominate an airline [or airlines] from their country to operate ights between the points speciďŹ ed in their agreement,â€? another member said.

Global Air Freight Demand Rises

The global demand for air freight rose 5.9 percent in October but growth appears to have peaked, the International Air Transport Association (IATA) said in its monthly market update.

The 5.9 percent increase, measured against the same period of 2016, was a slowdown from the 9.2 percent growth seen in October, but still above the last decade’s average annual growth rate of 3.2 percent.

All regions reported good growth, with Africa the standout on a 30.3 percent jump in freight tonne kms (FTK) carried. Latin America came second on the growth list with 7.2 percent and North America just shaded Europe with a 6.6 percent increase against 6.4 percent.

Capacity in available FTKs showed a more modest increase in all regions, with Africa again topping the table on 9.2 percent. Latin American carriers added 4.4 percent, Asia PaciďŹ c 3.9 percent and North America 3.8 percent. Overall freight load factor rose 1 percentage point to 46.9 percent. “Tightening supply conditions in the fourth quarter should see the air cargo industry deliver its strongestoperationalandďŹ nancialperformancesincethepost-global ďŹ nancial crisis rebound in 2010,â€? IATA Director General Alexandre de Juniac said.

“Asset Management Corporation of Nigeria (AMCON) is spearheading the restructuring of Aero Contractors and will bring in core investors to grow the airline

CEO of Aero Contractors

Captain Ado Sanusi

20

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BUSINESSWORLD INFRASTRUCTURAL DEFICIT THREATENS FG’S RAIL TRANSPORT PROGRAMME stands at N265/l, “FBN Quest sated.

They added: “For international travel, fx sourcing issues had a severe negative effect on airline operators as they could not repatriate funds. Nigeria became less attractive for operators and a few airlines reduced the frequency of their flights. However, the CBN has managed to reduce the blocked funds to $175 million from the initial $600 million according to IATA. “Nigeria’s aviation industry has the potential to become a pan-African hub similar to Kenya. However, the infrastructural deficit within the industry will not permit. The three major international airports in the country are undergoing renovation and expansion.�

NIGERIAN AIRLINES SHUN EXPATRIATE PILOTS, SAVE OVER N5BN ANNUALLY hours before you start coming to fly for airlines. It is when you get Airline Pilot License (APL) before you even come to fly for an airline. But we take them with commercial pilot license, with very low hours, we train them or let us say they even trained themselves, they come to us with very low hours, 250 hours, 300 hours. “Taking a trainee pilot with that number of hours will increase the airline’s insurance premium because the airline is putting an inexperienced, low time co-pilot inside the airplane, increasing the airline’s insurance premium and then putting a lot of stress on the aircraft because they are going to be doing training and everything. And when the pilot becomes proficient, then he now says I am paying him small remuneration and he leaves,� the operator said.

But despite these challenges, Nigerian airlines have weighed the cost of employing expatriates and training local personnel and have resorted to the later, as engaging foreign pilots entails the pilots working for two weeks and spending two weeks abroad, after paying them whooping salaries and allowances.

th Group Business Editor

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NEWS

CPC Moves against Consumer Abuses in Power, Healthcare, Banking Sectors Chika Amanze-Nwachuku The Consumer Protection Council (CPC) has vowed to end arbitrary charges imposed on consumers by the electricity, healthcare and banking sectors.

Director General of CPC, Mr. Babatunde Irukera, who made the pledge at a recent interactive session with journalists in Lagos, listed the electricity, banking and the healthcare sectors as among the agency’s priority industries that have recorded the highest incidence of consumer abuses.

He said priority attention would be given to these sectors that impose on consumers, arbitrary charges that are not commensurate with the quality of services rendered.

The CPC boss emphatically stated that banks and power distribution companies would now be held liable for such arbitrary charges going forward.

Irukera stated that ahead of CPC’s plan to address these abuses, the management has already commenced the process of building a strong consensus with the various stakeholders on the need to stem the misdeeds of service providers against consumers.

He also restated the agency’s commitment to deal with peddlers of adulterated and substandard products in the country in line with its mandate to give consumers value for their money.

Specifically, he said that the CPC under his watch would confront producers and marketers of substandard goods and would be collaborating with other government agencies, consumer advocacy groups and the general

public to bring enduring reforms that would make customers the king of the market place.

Irukera said: “The healthcare space is the most tragic in Nigeria, because healthcare practitioners do whatever they like and many families have suffered direly for such unprofessional conducts. For this reason, we are working on a ‘Patients Bill of Right� which would make people know their right. This would be pasted in public and private hospitals across the country to let medical practitioners know that they can’t do whatever they want with their patients and get away with it.

He therefore urged business owners to prioritise consumer protection as a strategic factor in protecting brand, businesses, building confidence and corporate

growth.

The CPC boss stated that customer satisfaction remains the most vital pillar of loyalty and trust, adding that customer service could not be supplementary to business; rather it must be at the heart of business and operations.

According to Irukera, President Muhammadu Buhari’s led administration recognises the role of businesses and their CEOs in economic expansion and would always listen to “credible, genuine, fair-minded, and society committed investments.

Consumer protection regulatory challenge in any part of the world, he further noted, could damage a brand globally; therefore companies should “prioritise consumer protection in

dealing with consumer protection authorities�.

He stated that CPC would introduce a more efficient system with the right technology that would ensure that companies were the primary point of resolution.

The Director-General explained that there was need for a mandatory Corporate Obligatory Responsibility (COR) as customer service and consumer protection, adding that it formed a vibrant combination of the best possible brand and reputational investment, and that fairness and customer satisfaction was important to maintain reputation and eliminate distrust in business. “When customer service is at its best, consumers are truly

happy, spending is up, economic indicators are encouraging; my job is done, your performance is assured, and your brands endure. “Consumer satisfaction is a means to a commercial end, and for CPC, it is an end in itself and fulfillment of a constitutional duty.�

He advised that consumers be treated fairly and equally, irrespective of their location.

He added: “It is only when that fails that complaints will escalate to the CPC, except in serious or industry wide situations or abuses that require major and urgent immediate intervention. “CEOs are hereby encouraged to ensure their companies adopt the comprehensive system and key into it when it goes live.�

A BOOST TO WATER TRANSPORTATION

L-R: Chairman, Apapa Local Government, Adele Elijah; the Baale, Itun Agan Community, Lot Ikuesan and the Managing Director, Josepdam Port Services (JPS), Simon Travers at the handing over of three Banana ďŹ bre glass speed boats by JPS to Itun Agan community in Lagos‌recently

Total EGINA Project to Be Completed Within Initial Budget of $16bn r Sets new local content records Chika Amanze-Nwachuku Total Upstream Nigeria Limited (TUPNI) has given a firm assurance that the Egina field project will be completed within the initial budget of $16billion.

The Egina field was discovered

by TUPNI in 2003 within the Oil Mining Licence 130 (OML130), some 200 kilometres south of Port Harcourt, Nigeria. The field is being developed by Total Upstream Nigeria Ltd in partnership with the Nigerian National Petroleum Corporation (NNPC), CNOOC, South Atlantic Petroleum (SAPETRO) and Petrobras.

It will at resumption of production, add 200,000 barrels

per day to Nigeria’s oil production (approximately 10% of the country’s total oil production).

Egina is the largest investment project currently on-going in the oil and gas sector in Nigeria. The overall progress of the project stands at 88% and a key milestone was achieved on October 31st, 2017 as the Floating, Production, Storage and Offloading unit (FPSO) started its journey to Nigeria. According to Total, the project is expected to be completed in Q4 - 2018, within the initial budget of $16billion.

Being the first major deepwater development project launched after the enactment of the Nigerian Oil & Gas Industry Content Development (NOGICD)

Act of 2010, Egina has the highest level of local content of any such project in Nigeria.

As operator of the Egina project, Total Upstream Nigeria Ltd fully identifies with the government aspirations for Nigerian Content and has been working closely with the Nigerian Content Development Monitoring Board (NCDMB) and Nigeria National Petroleum Company (NNPC) to maximise Nigerian Content on the project.

Key Nigerian Content features of the Egina project include 24 million man-hours worked in Nigeria (77% of total project workload), equivalent to a workforce of 3,000 persons on average over a period of five

years; 60,000 tonnes of equipment to be fabricated in Nigeria; over 560,000 man-hours of human capacity development training across Egina contracts; construction of several large-scale new fabrication facilities in Nigeria and upgrade of several existing fabrication yards.

The Egina project includes pioneering Nigerian Content achievements: The FPSO of Egina, a 330-meter long vessel designed to process oil and gas from the Egina field, will be berthed at the quayside in Nigeria for integration of locally fabricated modules – a first for Nigeria.

Also, Egina has the highest number of FPSO topside modules

(six) to be fully fabricated and integrated in Nigeria.

The assembly of the Integrated Control and Safety System of the FPSO was fully performed in Nigeria. Egina includes the fabrication of the largest subsea equipment (manifolds, risers) ever completed in Nigeria, far above what was achieved in previous projects.

The Egina project is testimony to the fact that large deepwater projects can be developed with a very high level of in-country activities, thus fulfilling the aspirations and objectives of the Federal Government of Nigeria in terms of employment generation, capacity building and industrial capability development.

Senior Correspondent

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Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? Ě™ Ă™Ă˜Ă?ĂŁ Ă‹ĂœĂ•Ă?Þ̚ Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? Ě™ ËÚÓÞËÖ Ă‹ĂœĂ•Ă?Þ̚

Nigeria Loses IMO Council Election Eromosele Abiodun Despite the robust campaign embarked upon by the Federal Ministry of Transportation, Nigeria has, for the third consecutive time, lost its bid to get re-elected into category ‘C’ of the International Maritime Organisation (IMO).

At Nigeria’s expense smaller countries such as Jamaica, Kenya

and Liberia were elected into the IMO council.

The last time Nigeria won its IMO Council bid was in 2007 under Dr. Ade Dosunmu, who was then the Director-General of the Nigeria Maritime Administration and Safety Agency (NIMASA) and every attempt made since 2011 to return to the council has failed.

Forty countries were elected

into the IMO Council in three categories for the 2017/2018 biennial.

The successful countries are China, Greece, Italy, Japan, Norway, Panama, Republic of Korea, Russian Federation, United Kingdom and United States in Category A. Australia, Brazil, Canada, France, Germany, India, Netherlands, Spain, Sweden

and United Arab Emirates were elected in Category B while Bahamas, Belgium, Chile, Cyprus, Denmark, Egypt, Indonesia, Jamaica, Kenya, Liberia, Malaysia, Malta, Mexico, Morocco, Peru, Philippines, Singapore, South Africa, Thailand and Turkey were elected in Category C. Category A council members are countries with the largest interest in providing international

shipping services, while Category B are countries with the largest interest in international seaborne trade.

Category C, which has 20 countries, are those with special interests in maritime transport or navigation� and whose election to the Council will ensure the representation of all major geographic areas of the world,� according to IMO.

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T H I S D AY ˾ ˜ Ͷ˜ Ͱͮͯ͵

BUSINESSWORLD

NEWS

SON Sets Up Adhoc Committee to Address Building Collapse Jonathan Eze Expressing concern over the spate of building collapse in the country, the Standards Organisation of Nigeria (SON) has set up an adhoc committee to address the menace.

The agency noted that the construction industry is dynamic, thus the need to set up a committee that would be equipped of latest technology and innovation used in the sector.

The Director General, SON, Osita Aboloma, during the inauguration of the standardisation and quality assurance technical committee for the construction industry, said the committee was set up to fine-tune the standards and international best practices in building and civil works to address building collapse in Nigeria.

In his words: “The committee is going to be a kind of standing committee to be abreast with the frequent collapse in public and civil works complaints in this area of our society. It is

going to be a combination of all stakeholders from the electrical department, civil, mechanical and other relevant agencies of government where they will sit down to address the issue of building collapse in the country. This committee will find solutions as it relates to standardisation to save the lives and property of Nigerians.”

He however noted that there is misinterpretation of roles of some professionals in the management of construction projects in Nigeria that had resulted to design and structural failure in service.

According to him, when professionals themselves argue on procedure, approach or method of project execution, or are bedevilled with unhealthy competition or rivalry, or have issues with basic things like who does what and the limit of what x, y or z can do on any project, there is the danger of lack of coordination and the possibility of shoddy or poor quality jobs.

Aboloma added that overde-

signing, inappropriate specifications and poor workmanship and unqualified personnel may also have contributed to the breaking up and reconstruction of building and civil works.

He therefore stressed: “It is expected that professionals in the building and construction industry play necessary roles in ensuring that the public interest is best served during project design and construction” Also speaking at the event, the Chairman of the committee, Engineer Joseph Ojigure-a member of the Council for Regulation of Engineering in Nigeria (COREN)- said the main assignment of the committee is to look at existing standards in the industry and find ways of mitigating the incessant building collapse in the nation.

According to him, the biggest issue bothering around building collapse is the non-professionals involved in the building industry and the regulatory laws governing buildings and other infrastructural developments in Nigeria.

West Africa’s First Trampoline Park Unveiled in Lagos Eromosele Abiodun Upbeat Recreation Centre, a multi-purpose recreational facility and West Africa’s first trampoline park, has been launched in Lagos.

Speaking on the completion of the project and future plans, Executive Director, Uraga Real Estate Limited, Mrs. Moyo Ogunseinde said: “Statistically, Nigeria has a youth population of about 67 million, aged between 15 and 35 years. Therefore a viable market opportunity existed to cater to the youth through Upbeat Recreation Centre which is truly a one-of-a-kind development in West Africa. The quality and design of the facility include sustainability and world class safety measures as well as the various activities which set it apart from any existing recreation facility in Nigeria and West Africa. “Upbeat has set a bar of excellence in the real estate sports & recreation market. In

particular the availability of a world class Trampoline Park is a great opportunity for expert level and budding gymnasts.

Nigeria currently participates at approximately 10 per cent in the Olympics, we have better chances of participating at up to 50 per cent and winning gymnastic competitions by developing and training our athletes in world class facilities like Upbeat, giving Nigeria and West Africa the potential to produce gymnastic stars.”

Uraga Real Estate is a subsidiary of the Honeywell Group with numerous successful projects, the most popular being the luxurious flagship five Star Radisson Blu Anchorage Hotel in Victoria Island.

On his part, Chief Executive Officer, Uraga Real Estate, Dr. Gbadamosi Yakubu said: “Uraga’s mission is to bring people together to work for a prosperous future – sharing in the collective wisdom and

business acumen of multiple project partners, leading the development and management of valuable spaces and increasing the wealth and well-being of all stakeholders.

In fulfillment of our mission, Uraga Real Estate is committed to bringing people together in this unique sport and recreation facility and encourage participation in sport, develop talent and contribute to the health and wellbeing of the people of Nigeria and, indeed, all of Africa.”

He added: “Upbeat Recreation Centre was conceived during the most recent recession period.

Taking into consideration the state of the economy which also happened to be a time when the country had become more health & fitness driven there was a need to rethink the real estate offerings in the market, a need to diversify and key into the unique (to West Africa) and profitable market of recreational real estate.

NIPRVows to Flush Out Quacks John Shiklam in Kaduna The Nigerian Institute of Public Relations (NIPR) has vowed to flush out quacks within the profession.

National Vice President of the institute, Mukhtar Sirajo, stated this in Kaduna during the orientation and documentation of newly registered members of the Kaduna state chapter of the institute.

Sirajo said only licensed people would be allowed to practice as Public Relations (PR) professionals.

He explained that the NIPR was being rebranded to ensure that unqualified and unlicensed people are identified and dealt with according to the law.

He said the war against quackery was yielding results, disclosing that just recently, a suspected quack was arrested in Suleja, Niger state and was being remanded in prison custody after being charged to court.

He told the new members that the purpose of the orientation and documentation was to acquaint them with the ethics of the profession and the ongoing efforts to re-brand NIPR. He said the institute has embarked on regular training and e-training for its members to update their knowledge and skills and urged the new members to take advantage of the training opportunities to sharpen their skills.

“Anybody who is practicing,

we must asked him of his license and that is why the institute is giving the new members windows to regularity” he said.

Speaking earlier, chairman of the Kaduna state chapter of the institute, Mohammed El-Nafaty, urged the new members to strive to upgrade their knowledge in order to catch up with latest trends in the profession.

He said the orientation was to enrich their knowledge and capacity on techniques and skills of public speaking and communication as major tools for public relations. He called on the new members to participate actively in the activities of the chapter as those who fail to participate would end up being delisted.

RISK MANAGEMENT WATCH Robert Mbonu

No More Business As Usual

T

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BUSINESSWORLD

AVIATION

NAMA Trains Controllers, Others on Safety Management Chinedu Eze The Nigerian Airspace Management Agency (NAMA) has organised two separate training workshops in Lagos for some of its critical personnel on Safety Management.

The workshops were facilitated by Aviation Academy for Southern Africa (AAFSA) and the training included three-day workshop on Safety Management Systems (SMS) and a five-day training which focused on the Impact of Human Factor in Air Traffic Management Safety.

While the former was for members of NAMA Safety Action Group (SAG) and selected Air Traffic Controllers in the agency according to their Safety Management Systems (SMS) related functions in the field; the latter was targeted strictly at Air

Traffic Controllers selected from strategic airports across the country.

The Safety Management Systems training was designed to impact basic SMS knowledge to participants and enable them understand the basic concepts, principles, theories, procedures and processes of Safety Management Systems in aviation.

The training primarily focused on the provisions of the State Safety Programme (SSP) and the SMS Manuals including their interrelationships.

The Human Factor workshop on the other hand dwelled extensively on the crucial role of human factor in hazard identification, safety risk management and critical decision making in the process of air traffic management.

In his remarks at the com-

mencement of the training, the Managing Director of NAMA, Capt. Fola Akinkuotu noted that what informed the policy of aggressive training by his administration was the need to constantly train, and retrain the human person because “only by doing so can we be at par with technology which is also being constantly updated by the passage of each day.�

He expressed satisfaction at the quality of instruction just as he challenged the participants to see themselves as safety champions of NAMA and “be ready to impart this knowledge to others so that it can trickle down the agency with the ultimate aim of making our processes and procedures more compliant with the International Civil Aviation Standard and Recommended Practices (ICAO SARPs).�

Delta Airlifts 1.12m Passengers from Lagos in 10 Years Delta Air Lines said that it has airlifted about 1.12 million passengers on its Lagos-Atlanta route since it started operation from Nigeria 10 years ago.

The US major carrier, which announced it would start LagosNew York flight service from March 2018, said its decision to operate from Nigeria has been a rewarding experience.

Speaking at a press conference in Lagos, to mark the services, Bob Cortelyou, Delta’s senior vice president – Network Planning, said, “It’s an honour to serve Lagos. For 10 years it has been an important route in our trans-Atlantic network not only for the business community, but also for customers reuniting with friends and families across

the United States. With this milestone comes a new flight to New York-JFK starting in March and our customers can be sure we remain as committed as ever to delivering the very best in terms of network, schedule and on-board experience in Nigeria.�

According to him, Delta takes passengers conveniently to its 10 most popular cities, namely: Atlanta, Baltimore, Chicago, Dallas, Houston, Los Angeles, New Orleans, New York, Orlando and Washington D.C. He said the airline had within the period, operated 6,300 flights between Nigeria and the United States, adding that it flew over 80,000 passengers between Nigeria and the United States in 2017.

Cortelyou disclosed that over 300 Delta aircraft feature Nollywood blockbuster filsm as part of Delta Studio in-flight entertainment, revealing that in the last six years of Delta’s Internship Program, it has offered graduates business experience with Delta in Nigeria.

He also said over 200 students participated in Delta’s Innovation Camp in partnership with Junior Achievement Nigeria.

Launched on December 4, 2007, Delta remains the only, U.S. airline to fly non-stop between Nigeria and the United States and has carried more than 1.12 million passengers between the two nations over the past decade.

IATA: African Airline May Incur $100m Loss in 2018 The International Air Transport Association (IATA) forecasts global industry net profit to rise to $38.4 billion in 2018, an improvement from the $34.5 billion expected net profit in 2017, but posited that despite the overall progress, Africa’s airlines would incur a loss of $100 million next year.

This is contained in IATA 2018 forecast made available by the global body presented

by IATA’s Director-General and CEO, Alexandre de Juniac, in Geneva, Switzerland. The forecast stated that Africa’s airlines are expected to continue making a combined loss of $100 million in 2018, i.e. a repeat of this year’s performance. However, stronger forecast economic growth in the region (excluding South Africa, which remains weak) is expected to support demand growth of 8.0 percent in 2018, slightly outpacing the announced capacity expansion of 7.5 percent.

The forecast also noted that the

slow pace of wider economic improvement in Africa is hampering the financial performance of the continent’s airlines. Nigeria is only just out of recession and growth in South Africa remains extremely weak. As a result, although traffic is growing, the passenger load factors (i.e. the measure of utilised capacity) are just over 70 percent. This is more than 10 percent lower than the global industry average.

The combination of low utilisation and high fixed costs make it difficult for airlines to make a profit. Stronger economic growth will help in 2018, but Africa’s governments need to make a concerted effort to free up intraAfrican access to their markets as the increased connectivity will stimulate wider economic growth. Overall highlights of expected 2018 performance include a slight decline in the operating margin to 8.1 per cent (down from 8.3 percent in 2017); an improvement in net margin to

4.7 percent (up from 4.6 percent in 2017); a rise in overall revenues to $824 billion (+9.4 percent on 2017 revenues of $754 billion) and a rise in passenger numbers to 4.3 billion (+6.0 percent on the 4.1 billion passengers in 2017).

IATA also projected a rise in cargo carried to 62.5 million tonnes (+4.5 percent on the 59.9 million tonnes in 2017), slower growth for both passenger (+6.0 percent in 2018, +7.5 percent in 2017) and cargo (+4.5 percent in 2018, +9.3 percent in 2017) demand and average net profit per departing passenger of $8.90 (up from $8.45 in 2017) The global body noted that strong demand, efficiency and reduced interest payments will help airlines improve net profitability in 2018 despite rising costs.

2018 is expected to be the fourth consecutive year of sustainable profits with a return on invested capital (9.4 percent) exceeding the industry’s average cost of capital (7.4 percent).

AIR WATCH Is NDLEA Winning the War against Illicit Drugs?

Workers of the National Drug Law Enforcement Agency (NDLEA) may be having a very bad time right now.

In the last six months, the workers had written several petitions to President Muhammadu Buhari, accusing the Chairman and CEO of the agency, retired Col. Muhammad Mustapha Abdallah of neglecting the plights of the workers.

But investigations by THISDAY have revealed that most of what the workers are accusing the present management of preceded it and had been there for years. Prior to Abdallah’s assumption of office, the agency has been complaining about poor federal allocation, which it receives from government, and this has not improved over the years.

Spokesman of the agency, Jona Achema expressed similar views when he spoke with THISDAY. He explained that the new management has neither recruited nor reappointed senior staff of the organisation but has continued to work with what it inherited from the predecessor.

THISDAY investigations also confirmed that majority of the workers are demoralised and therefore cannot be committed to their jobs and because the workers complain of poor welfare, they could easily be used as conduit for drug trafficking, as they would be unable to resists the money the traffickers would dangle before them.

Now that drug use has become common in all parts of the country, with investigations showing that it is damaging the minds of the youths, there is no greater time that the country needs the efforts of NDLEA than now to curb the menace of illicit drugs, which destroying a section of the society.

The workers said under the current management, statistics of arrests and seizures have drastically gone down. They alleged that there is serious pressure already as NDLEA facility across the country cannot accommodate the large number of drug dependent persons needing rehabilitation.

According to the World Drug Report 2013, Nigeria is an important player in the global criminal drug business. There is evidence of a vibrant cannabis cultivation business which appears to be fueling a youthful domestic market and a possible export market with profit being assimilated unnoticed into the Nigerian economy.

NDLEA also acknowledged that there is evidence of cocaine trafficking to the United Kingdom and the rest of Europe and heroin to the United States, but Nigeria is used as routes of passage since neither coca plant nor opium poppy is cultivated domestically.

Recently, a group of NDLEA workers petitioned President Buhari and pleaded with him to save the agency from decadence. They said his intervention would save the country from the “tragic woes of irredeemable drug abuse and trafficking.�

In the petition signed by the Deputy Superintendent for Narcotics, Musa Ahmed Yusuf on behalf of NDLEA officers, the workers alleged that the Abdallah led management, diverted over N528 million from the monthly allocation of the agency through inappropriate foreign travels that did not add any value to NDLEA. The workers also complained bitterly about their poor emoluments and said compared to other parastatals, NDLEA’s salary structure is the lowest in comparison with sister agencies. According to them, many of the workers allowances, including medicals are not paid and that the workers work in deplorable offices and there is no provision made to provide for the families of the officers who lost their lives in active service. “The greatest disservice to any workforce is

Abdallah

lack of promotion. NDLEA today is a house of indiscipline as irregular promotion exercise coupled with the questionable special promotion has made junior officers senior to their superiors.

Most officers have been stagnated in one rank for over 10 years without any justifiable reason.

Officers that were due for promotion in 2009 were made to write promotion examination in 2013 and the promotion released in 2014,� the petition said.

The petition noted that the officers who have been cheated by the system have become helpless, especially those with a few years more in service.

They noted that under the current administration over 60 officers have died in a short space of two years “out of frustration and extreme despair.� “NDLEA has witnessed a high rate of voluntary retirement by officers under Abdallah’s dictatorship. Officers are deeply frustrated with his leadership over lack of promotion, poor welfare package, and horrible working conditions,� the workers alleged.

The workers also beamed light on corruption in the agency and alleged that under the current administration, corruption has exacerbated due to poor welfare of workers and the failure of the management to provide money for the officers to run their commands. “Commanders are left without money to run the commands. They cannot protest because such moves are interpreted as mutiny. Almost all the state command offices across the country are in dire need of repairs,� the workers said.

The petition also noted that this period may be the best for drug traffickers because there is laxity in the anti-drug fight due to low morale of the workers of the agency. “In the history of the NDLEA, drug barons have not had a better time than now. In fact, they are having a field day producing and selling drugs to the detriment of the country.

This nonchalant attitude towards bringing drug barons to book is gradually affecting the cordial working relationship between the agency and international collaborators like the United States Government, United Nations Office on Drugs and Crime (UNODC).

Unlike in the past, these collaborators were conspicuously missing at the 2017 World Drug Day commemoration in Abuja.

But the NDLEA spokesman debunked all these allegations and explained that the dilapidated facilities of the agency are capital projects beyond the ability of the management to address. “The leaking and dilapidated roofs of the Agency’s buildings are capital project issues, some of which were captured in the 2015 capital budget. All renovations captured in the 2015 budget that were awarded were executed fully. However, no further budgetary provisions for office renovations were provided in both 2016 and 2017. The capital budget so far released for 2017 is only N16 Million, which cannot execute the listed projects captured in the 2017 budget,� he said.

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BUSINESSWORLD

INTERVIEW

Dunoma: Concession is the Best Option for Airport Management Managing Director of the Federal Airports Authority of Nigeria, Saleh Dunoma explains that the federal government’s resolve to concession major airports in the country stems from its inability to fund their development. Chinedu Eze brings the excerpts: Recently the Nigerian Civil Aviation Authority (NCAA) certiďŹ ed the two major airports in the country- the Murtala Muhammed and the Nnamdi Azikiwe International Airport, Abuja in accordance to the safety standard and regulation of the International Civil Aviation Organisation (ICAO). What are the beneďŹ ts of this certiďŹ cation and how FAAN will ensure that the new status is sustained?

First of all, let me start with the benefits of the certification, ICAO devised this certification in order to make airports keep up to the standards.

You see it starts with the First Declaration.

Anybody that wants to develop an airport must decide the aircraft size that he wants to operate in that airport. If he says that he wants an airport that will handle this type of aircraft; let’s say, Boeing B747. If your intention is to develop an airport that will handle a B747, then ICAO has a specification for you, in terms of the design and the operational parameters.

ICAO will tell you how many firemen you need; what category of fire you want, what is the length of the runway, what is the width of the runway and other conditions. So once you finish your design and it is implemented and the airport is up for a B747, then ICAO comes back to see whether what you said you did is what you did. Do you now have an airport that can handle a B747? Do you have the processes and procedures in place to handle a B747? Are you compliant with all the safety requirements? Are you compliant with the security requirement?

Are you compliant with all the ICAO annexes as specified in handling this particular category of aircraft?

So they will come and inspect the airport.

After the inspection, they will give a report.

Of course, they will find gaps (shortcomings); there is no airport that is free of gaps all over the world. So they will have gaps, there are critical ones, there are ones that are procedural and there are ones you have to do a study on.

So once they give you that, you have to come up with a plan which we call Corrective Action Implementation Plan. So you have to come up with that plan, once you submit the plan and you continue to implement your plan, they will come and also look at what you are doing and they check you off.

Once the inspection is completed, it means you have complied as far as their inspection is concerned, as far as your compliance to the annexes is concerned. Now, if that is done they look also into documentation. Do you have a safety plan? Do you have an emergency plan?

Do you have an operational plan? Are these plans up to date? Because if I pick a plan of Nnamdi Azikiwe International Airport and I open it and I want to talk to the fireman and the telephone number of the fireman is there, when I call he should answer. If I want to know who the airport manager is, the phone number is there. So you have to keep updating your records and your plans and your procedures so that they are up to date. This is because aviation processes and procedures are very dynamic.

Now, once you have done that what you have achieved is, you have achieved a safety level that is acceptable by the ICAO, and the Nigerian Civil Aviation Authority. So you have been certified as having fulfilled the conditions for the operation of that particular category of an airport that you intended from the beginning or from your declaration that this is an airport that can handle a B747 or B737. So you are certified based on that, and this certificate can be withdrawn, if you don’t sustain it. Because they will come after sometime do another inspection, depending on what the civil aviation wants to do. They will do an inspection and they will show you that this is the result of the inspection, you are okay in these areas and you are

Dunoma

not okay in these areas. And you give them timeline and assure them when you will close the gap; whether a week, a month etc. If you fail to do that for two weeks or one month or

We are working hard to make sure that sometime next year, maybe by middle of next year. The two terminals in Abuja and in Lagos will come on stream because these are where we are experiencing upsurge in trafďŹ c. So since we have the same contractor handling the ďŹ ve terminals, we are asking the contractor to concentrate on Lagos and Abuja for now. When they are completed it will alleviate some issues as far as trafďŹ c growth is concerned in these two airports

so they will come back and withdraw your certificate. So our plan for sustenance is to have capable manpower in place.

That is why before the certification our staff were trained in various areas, in safety, in fire and rescue, in operations, in marshalling and what have you. In everything, even the people that did the documentation are all trained.

So that will give you capacity to sustain the certification, so all these key departments that are responsible for the sustenance of the certificate are all trained and they know what to watch out for. So without even the inspection of the Nigerian Civil Aviation Authority, if they see anything going down they can quickly make corrections. So this is the plan that we have for sustenance.

Training is the basic thing to sustain the new status of the airports; because if you bring a new person and he doesn’t know what he is doing and he doesn’t even know what to look out for, then of course even if the standard is falling he will not know. So the basic thing is training, once you train the personnel to the required level then they will watch out for the areas where there is deterioration in either the level of safety or infrastructure or any other area.

When will the new terminals being built by the Chinese in the ďŹ ve major airports come on stream as there are structural issues, which the engineers raised about power at the Abuja facility and the need to relocate the ďŹ re house and the control tower?

We are working hard to make sure that sometime next year, maybe by middle of next year. The two terminals in Abuja and in Lagos will come on stream because these

are where we are experiencing upsurge in traffic.

So since we have the same contractor handling the five terminals, we are asking the contractor to concentrate on Lagos and Abuja for now.

When they are completed it will alleviate some issues as far as traffic growth is concerned in these two airports.

Now, the other efforts that we are making to get them on stream in good time is to make sure that other technical issues that are affecting or that will affect the operation of the terminal building are quickly handled. You can see the level of completion, this other issues that have to do with power supply, water supply, if you look at the building; it is like doubling the number of buildings at the airport. The one in Lagos is huge also; it is like doubling the old one, so in terms of power supply and water supply, we will double the power supply. In Lagos we don’t have a problem with power because we have installed enough capacity as far as power is concerned to handle the new terminal. All we need to do is to do some redistribution here and there then that terminal will be taking care of.

In Abuja, we have an issue, because if you look at the structure in Abuja, before the new terminal, the structure was small, so there was no need to install a huge capacity of electricity.

So we now need to increase the capacity of our standby. As far as public power supply is concerned, or Abuja disco or Lagos disco is concerned, they can provide sufficient power but we are talking about a standby capacity now because of the requirements operating an airport; you need a standby capacity in case of power failure. In this case what we need to do is to improve the capacity of the standby facility for power supply in Abuja airport.

We are already working on the relocation of the tower and the fire house. We have done the assessment; we have located the place and we are planning that we will increase that capacity so that we will be able to accommodate this terminal in terms of power supply. There are other little, little issues like sewage system, water system but those ones are not difficult, the most difficult one is power but for sewage system, we can erect facility for the terminal alone and we can also have a water system for that terminal alone but power is a bit difficult, you know power generation is not like water.

So all those issues are being addressed and we are planning that by the time this terminal is coming on, all these facilities will be in place so that we can operate this terminal seamlessly. The same thing in Lagos, like I said, Lagos is even much easier because we have sufficient power supply to take care of the terminal and all we need to do is to just do some redistribution here and there and then that terminal will be ready.

There is this talk about having a train terminus in Abuja airport. Is it real?

Yes, a rail line has been extended to Abuja airport and this rail stops very close to the terminal. That is why if you look at the Abuja new terminal design, it is slightly different from the Lagos design. Abuja design has a public concourse that extends on top of the hill and there is road below the public concourse. We are going to have the rail terminal on the concourse and then the car park. So as soon as you come whether you are coming by road or by train, as soon as you get off your train or car, you just walk into the public concourse and then you walk and cross the bridge, you cross and you go to the first processing before going to the departure processing. So this is the difference between Abuja and Lagos.

There are issues raised recently during the Aviation Round Table Conference about CONTINUED ON PAGE 24

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24

DUNOMA: CONCESSION IS THE BEST OPTION FOR AIRPORT MANAGEMENT the Akanu Ibiam International Airport, Enugu not having the needed facilities to operate international service. What is your reaction to this?

Well, when you say we don’t have facilities for international operations, I don’t understand that because we have the facility. The runway is there, it was extended so it is sufficient; that is why we have Ethiopia Airlines going into Enugu. So they have capacity, the terminal building is there, they have the international terminal built by the Chinese; although it is not operational, the current terminal building is sufficient, more than sufficient to carry the traffic. So as far as operation is concerned I think it is okay.

But what is lacking, like you mentioned, is the categorised approach lights. We have simple approach into Enugu and with simple approach you can go into Enugu. With the ILS (Instrument Landing System) that is at Enugu you can go into Enugu that is why flights are going there, anyway. But we had wanted to upgrade the approach to at least Category one from one side or Category one on both sides or Category one and a simple approach on one side, or Category two and simple approach on the other side. But we had planned that the state government will give us land because we don’t have authority on land.

When we started the expansion of Enugu airport, the state government acquired land and gave us to do the extension and to do also the approach light but unfortunately there was an issue with the compensation. As at that time when the former governor issued instructions to his people, that look, go and do the assessment and let me see, I will relocate the people that are on the approach, so that FAAN can have this land and to install their light. A bill was brought that was over N2billion to his Excellency (the former governor, Sullivan Chime) and he said that the bill was too high because there was nothing on that land. And if you are claiming that this is your land, if I am going to give you another land, then the compensation should be small, because there are no structures, it is just a virgin land. There are only two or three buildings that were at the foundation level, one of them was at lintel level. But the bill was so huge and the Excellency told them that they should go and review it since he is going to give them another land in another location, the compensation should be minimal.

Since then up till now, nothing has happened and we cannot move in. Already some land owners in those locations have been approaching FAAN to say we should come and pay compensation. We said we cannot pay compensation; FAAN cannot just wake up and say we want to pay compensation, there are processes and procedures and it depends on which government agency is going to pay the compensation. Enugu state government promised us that they will give us the land; that means they will take responsibility of acquiring the land and handing it over to FAAN so that FAAN can use it for that purpose. Up till today that issue has not been resolved. That is why the installation of the airfield lightening system cannot be finished. Until they do that, until the land is formerly handed over to us, we cannot move in.

What is your analysis of the progressive report on passenger movement in Lagos, Abuja and other airports?

You know because of the recession generally all over the world, there was a little drop in passenger movement and aircraft movement also. But it is picking up again because all the airlines that reduced either frequency or stopped coming are applying again that they want to come back. They have started and they are looking for additional frequencies, so passenger movement is picking up. Aircraft movement also will pick up. Yes. there was a drop especially in 2016 up to early part of 2017 but now there is a gradual positive growth again. And this is in conformity with what ICAO and ACI (Airport Council International) and all the aviation bodies have predicted, traffic will double in the next 15 years.

So you can see the trend that is going on, you can see the airlines are applying, they want to come. And within the country the easiest means

Dunoma

of transport is air. I was with his Excellency, the governor of Edo State (Godwin Obaseki) the other day, he told me that look, road infrastructure is very difficult to develop because if you want to construct a road from Benin to Lagos, you can imagine how many hundreds of kilometers you need to construct and how long it will take you to build and how costly to maintain it.

We are lucky. Nigeria has developed so many airports across the country, so we have these runways in place, all we need to do in some cases is to either extend or expand and install some few things there and you are there. So he told me that from the look of things he would prefer Benin airport to operate 24 hours so that people can go in and out at any time. For security reasons and the difficulty in the development of road infrastructure and the militants all over the place, it is easy and safer for you to fly in Nigeria.

So we are working with him to improve on Benin airport so that Benin can operate 24 hours.

He is ready to help us and we are collaborating with state government in order to improve the situation. So it is faster, easier and safer to fly.

And for government, it is also cheaper to maintain three kilometer runway with the airfield lighting than to maintain hundreds of roads. We are not saying that we should not develop roads but it is faster and easier to do a little thing on the airport and then improve the situation.

Now Hamattan is already here and you know every December Harmattan haze disrupt ights. How are you working with the Nigerian Airspace Management Agency (NAMA) to abate the effect of weather on ights?

Yes there are technologies out there that we can deploy to assist in helping pilots to fly during bad weather and to land and take off during bad weather. But let me tell you, you must respect weather, you can have the technology there but there are safety limits that were also prescribed; so it must be respected. You can say, I have the technology and I can fly; no, with all the technology there must be respect for weather. We are doing our best; we are working with NAMA to install the airfield lighting systems, to improve on the ILS to bring in the aircraft to the airport. But still it goes beyond certain limits that must be respected. Technology is there, yes, we will do our best to install them but when it reaches a certain limit it is advisable that you hold on.

There is suggestion in FAAN that every airport manager should be paid about seven to 10 percent of the revenue generated from that airport in addition to the annual amount of money that is paid to each airport annually.

They are that this will motivate the airport managers to become innovative and generate more money. What is your view?

Talking about revenue, airport revenue depends on majorly flight operations, and passenger movement. These are the most critical factors

there are other factors but these are the most critical factors. And FAAN and other aviation parastatals are there to facilitate these two—the aircraft movement and passenger movement.

So we have to concentrate on that because there is a lot to do on that. Any other thing is complementary in generating additional revenue for us, we can encourage our managers to do that and yes they are free to do that; but not to the detriment of the two major things that I mentioned—passenger movement and flight operations.

Bi-Courtney Aviation Services Limited is always alleging that FAAN owes it huge debts. What is the critical issue between FAAN and Bi-Courtney?

Well, Bi-Courtney is a concessionaire, we had an agreement with them that he will operate the terminal, which was before now domestic terminal, he developed it on a BOT (build, operate and transfer) basis and he his running it on that. Along the line there was an issue and we are in court with him and I am sure these issues will be resolved either in the court or if government decided that we come out of court and resolve it, then we will resolve it. Since the issue is in court this is the only thing I can divulge to you.

The federal government has decided to concession the airports, starting with the major facilities but some FAAN workers are agitating that government should make the agency autonomous, which would give it freedom, arguing that concession would not be successful. Do you agree with them?

What kind of freedom will you give FAAN that it will operate without interference? We are a government organisation, there is no amount of freedom that you will give us that we will not be influenced, we will be influenced. We are influenced by the environment, by the business, influenced by conditions. So the issue of concession, concession is also an influence of what is happening in the economy, in the environment and in the industry. Before this time, government can decide that you should go and build and airport in so and so place and it is built. That was how all the 22 airports that we are managing and other airports that we are helping to manage are built.

But today we just talked about doubling of traffic in the next 15 years, how do we provide the infrastructure? Right now, the terminal buildings that we are constructing is being done through a loan. Now, let’s not forget that the oil revenues are not there and government has a lot of contending issues security, health, education etc; there is no way aviation can compete with these. Security for example, without security there will be no development, now since the oil revenue is very low and government revenues are dwindling what do we do? What is the solution? This is the influence I was talking about that we are

influenced by the environment, by the industry.

What do we do? Government decided to take a loan and for me a loan the way I see it is just after fulfilling the bank conditions that the banks gives you money. Any time the loan matures they will come back to you and say you should start paying their money.

If you default in the agreement there are clauses, they will come and take over and they will take over under their own terms, based on the agreement and they try to collect the money until they recover their money. This is what happened to Arik, and Aero in the industry and I am sure in other industries also it must have happened. But concession is to look for somebody who knows the business, who is ready to take risk and to share the risk with you. The Bank is not sharing any risk with you but for the concessionaire he knows the business, you are going to share the risk, you will manage it together and you will share the proceeds until the end of the contract when he hands over the facility to you.

Because you are not selling the facility, he is helping you to invest, to develop and then you run it together until he recovers his money and then he moves on and gives you the asset. So for me it is a better relationship than somebody that will just give you money and wait until you default. But from the conditions, if it is done properly, if it is done transparently, if there is proper competition, concession is better than the loan. So this is the way I look at it because for us to develop the needed infrastructure to meet up with the growth in the industry which is quick, that was why we went for this loan.

There was a rating done by sleepingatairport. net this year and Port Harcourt airport was third worst in the world, while Lagos airport comes fifth worst airport in the world. When will Nigerian airports be excluded from this list?

Let me tell you, we in the aviation industry we have organisations that are overseeing us.

There is International Civil Aviation Organisation, which has to do with safety and security. We have ACI that is also looking at safety, security and economics of the airport. We have IATA which is an association of the airlines and all these groupings, especially the ICAO and the CAAs (Civil Aviation Authority), are there to look at safety. That is why we do the certification, can any organisation come out and say; no, Abuja airport is not certified or Lagos airport is not certified? People are looking at different things, airports are not designed for you to go and sleep; they are designed for you to pass through as a passenger and get to your destination. Yes, some of them are designed for 24 hours but it is not designed for you to come and sleep.

That is why if your flight is cancelled and you have already checked in airlines take you to the hotel. We don’t have hotels at the airport, we are just trying to provide few rooms at Murtala Mohammed International Airport, few rooms at Abuja airport but you are running an airport, you are not running a hotel.

The best thing is to plan your operation in such a way that all passengers pass through without sleeping at the airport. Because the longer they stay at the airport the more they stretch your facilities because those facilities are not designed for them to come and sleep.

If somebody sleeps at the airport it means he will go to the toilet like three or four times, he will need a shower, are the airport designed for that? No. Airports are designed for you to come and pass through.

Now, those groups are looking at other aspect of passenger comfort when they come to sleep at the airport but this not supposed to be the case and in the case of Port Harcourt, it has been under construction; unfortunately we had issues with the contractor which the federal government has resolved and he has gone back to site and he is working now on that.

So they did their assessment when we started the reconstruction of Port Harcourt airport.

The more you put together construction and flight operation and passenger movement the more complicated it becomes. So we try to avoid it but the assessment was done when the building was under construction. So that assessment as far as I am concerned has nothing to do with aviation, it has something to do with passenger comfort that we cannot provide when the building is under construction.

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BUSINESSWORLD

INTERVIEW

BATN: Setting Standards in Quality Management British American Tobacco Nigeria recently got re-certified with the latest quality management system, ISO 9001:2015. Eromosele Abiodun examines its significance

L-R: Area Head, Government Aairs, British American Tobacco Nigeria (BATN), West Africa, Oluwaseyi Ashade; Director of Management System CertiďŹ cation, the Standards Organisation of Nigeria (SON), (Mrs) Oluremi Ayeni; Area Operations Director, BATN West Africa, Charles Kyalo; and Coordinator of SON, Oyo State OďŹƒce, Mrs Toyin Idowu; during the presentation of SON’s NIS ISO 9001:2015 Quality Management System certiďŹ cate to BATN at the company’s factory in Ibadan, Oyo State‌recently

In the world today, there is a growing inclination towards the implementation of quality management procedure among organisations, owing to the tremendous advantages in the use of the system.

With advancement in production technology and competitive pressure in the market, customer requirements keep changing. Therefore, organisations are left with no choice other than to continually improve their products and process to enhance customer satisfaction.

The premium placed on attaining customer satisfaction nowadays, compels organisations to implement recognised quality management system which helps to guarantee this by meeting their requirements, and ultimately boosting their confidence and loyalty.

Particularly for fast moving consumer goods, quality services and products delivered in a reliable and sustainable manner and sanctioned by an internationally recognised quality management system help to maintain and increase the manufacturer’s market share and put it on par with international standards.

Experts’ Views

According to a leading and independent management and ISO consultant, APB Consultants, “Implementing quality management system helps the organisations to analyse customer requirement, determine the process which are needed by the organisation to produce product which meet customer requirement and is acceptable by the costumer. It also ensures that processes are under control.�

Experts are of the view that organisations need to improve continually their products and process to enhance customer satisfaction as customer requirements keep on changing because of competitive pressure and improvement in technology in general.

It is this continuous process involving implementation, maintenance and improvement that stands out the quality management system from many other forms of audit regime and certification. More importantly, it keeps an organisation constantly on its toes and

places an obligation on it to improve its effectiveness and efficiency and to keep abreast with industry standards as its operations come under regular periodic review by the regulatory body.

Conscious of the significance of the quality management system, many organisations in Nigeria are increasingly embracing it even though the certification is still voluntary in the country.

This fact was recently demonstrated by the British American Tobacco Nigeria (BATN) at the formal presentation of the Standards Organisation of Nigeria’s (SON) ISO: 9001:2015 quality management system certificate to the firm in its factory in Ibadan, Oyo State.

Represented by Mrs. Oluremi Ayeni, SON’s Director of Management System Certification, the Director General of SON, Mr Osita Aboloma, commended BATN for adhering to statutory and regulatory requirements in Nigeria’s tobacco industry and its role in “securing a better regulated market to safeguard the life of consumers and sustain the livelihoods of tobacco farmers.�

Quality System

Management

He said the recognition was based on quality management system put in place by BAT Nigeria in improving the tobacco sector, stressing that the company had been playing remarkable role in securing a better regulated market to safeguard the life of consumers and sustain the livelihood of tobacco farms.

He added that the certification was a demonstration of BATN’s management system’s conformity to internationally acceptable standard and the ability of the company to align to best practices.

Highlighting the benefits of the certification, Aboloma stated that “the NIS ISO 9001:2015 reporting management system approach now provides you a robust, globally recognised and acceptable solution to address the challenges associated with consistently meeting business and regulatory requirements.� He noted further

that the “adoption of the ISO 9001:2015 Quality Management System framework reflects the commitment to one of your strategic goals geared towards continually operating at the highest standards of corporate conduct and transparency, benefiting governments, consumers, and the environment.�

Aboloma, however, charged the company to ensure that the system remains effective and up-to-date in order to “reap the benefits of ISO approach to quality management.� “This system having been re-certified has been placed on annual surveillance audits to track effectiveness. In the course of the audit exercises, where non-conformances are observed and are corrected within specified time frame, the system will retain the certificate.

However, the certificate will be withdrawn, if the structures in place for certification breaks down and necessary corrective actions are not taken on observed non-conformances,� he said. “Being one of the very few certified in your professional segment in Nigeria, you will agree with me that your biggest challenge in this endless journey to excellence is to direct your efforts towards consistent quality product and service delivery in tobacco and cigarette manufacturing supply chain,� he stated He added that by the presentation of the certificate, the company had been adjudged as having a system that gives customers and interested parties assurance of its ability to consistently provide products and services that meet requirements.

He stated that BAT Nigeria’s focus on quality products and service delivery would also strengthen its competitive strategies, stressing that by its feat, it had retained its spot among a privileged class of quality management system certified organisations.

Quality Process

Area Operations Director of BAT West Africa, Charles Kyalo, while appreciating the management of SON for the recertification,

described it as a revalidation of the company’s quality process. “It is a great honour for BAT Nigeria to be considered worthy to be presented with this certificate and I believe this certification demonstrates our continuous effort to ensure that the best quality products are produced in our factory and buttresses the fact that we are a company that consistently complies with industry regulations as provided by the authorities.

I believe that quality is a competitive advantage. The re-certification is a re-validation of our quality processes. All the way from top management, we are committed to quality.

This means that our customers could actually have confidence in the products from our plants.

These products are exported to 14 countries in West Africa. It is also important for our customers to know that such factory where the product is coming from complies with the highest international standard of quality,� he said.

Meanwhile, since its first certification with the ISO 9001:2000 by SON on May 18, 2005, following the completion and inauguration of its factory in Ibadan, BATN has successfully been re-certified over and over again after undergoing recertification transition assessments by SON. SON’s ISO Standards especially the Quality Management Standards enable businesses to plan future growth around meeting customer expectations, enable transparency about products and best practices for limiting their impacts.

While BATN has commendably earned itself the recertification through the continuous embrace of quality standards, the system certification in the country remains voluntary as observed by Ayeni during a chat with THISDAY. SON anticipates a time when most businesses in the country will warmly embrace the system without being compelled to implement its huge benefits.

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T H I S D AY FRIDAY DECEMBER 8, 2017

WEEKLY PULLOUT

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

LIVING | P31

COLLAGE | P36

THISLIFE | P37

FILE

‘EATING HEALTHY IS THE SECRET OF MY LONGEVITY’

ACTING EDITOR CHARLES AJUNWA / charles.ajunwa@thisdaylive.com

28/COVER

08.12.2017

‘Eating Healthy is the Secret of My Longevity’ Mrs. Eno-Edet Traore, the only surviving sister of Nigeria's first indigenous Inspector General of Police late Louis Edet, marked her 80th birthday on November 26. In this interview with Ikenna Ekwerike, she spoke about her youth, the secret of her longevity, among others is to do sports thrice a week, then intensive is to increase that and reduce the quantity of food so with that I found that am even a lot more healthy, feel happier at 80 than when I was 70.

Where were you born?

First of all, my name is Eno-Edet Traore; Traore is my husband’s name and Edet is my family name. I was born in Duke Town in Calabar, Cross River State in 1937 on this day, 26 November, 1937.

How was growing up like?

Well, I came from a polygamous home. My father was polygamous because he was a chief of the community and he was also in the Native Court; one of the judges in the Native Court that was set up by the Colonial Masters. He was polygamous but I never saw him with two wives under the same roof. It was one woman after the other, never two women; that was the funny thing about his own style of polygamy.

How did you relate with your parents and family?

My father was Edet Essien; he was the father of the first indigenous Inspector General of Police late Louis Edet. Among his children I’m number five, the last but one and the IG was number two. The IG was my elder brother; we had a more elderly brother who was a school principal at that time and the IG was the next and we had sisters in between. My mother’s name was Ikwuo Ekpe and she was from Bakassi, which is now part of Akwa Ibom. I was the only daughter of my mother, the only child in fact, so she was treating me like an egg. And it happened that my father, among all other children, was very fond of me. So he pushed me to go to school, he was very keen because as the chief, the other girls got married early and my father said I should not marry early. So he used to give me face cap to cover my face so that men will not see me; so that I will stay long in school.

That’s funny about my father. And when he was actually on his dying bed he called all his children who were in Nigeria at that time – because the IG was abroad at the time. He called all of them and told them that they should keep me in school until am tired of going to school. He actually gave them that warning and then he breathed his last few hours after that. I was in secondary school by then; in Form Two. Where did you school?

I schooled in Calabar Primary School and also in the Convent School; then we were the pioneer students of the Holy Child Secondary School. After that I went to WTC Enugu, it’s a teacher training institute. From there to the University of Lagos where I did French. While there, I had a French scholarship and we went to France. I got my Master’s degree in France.

And I left here on the day of that first coup d’etat, 15th of January 1966 that was the day we were to go to France and it was a different story.

Nobody knew what coup d’etat is and we were all asking what coup d’etat is and why is it that it is happening today that’s my turn to travel abroad. But in the end I left the country. I never came back till about 10 years after because I got married to a student in Toulouse in France; so I had my children there. And after that I went to my husband’s country before I returned to Nigeria. My husband is from Mauritania, the other end of West Africa.

Chief (Mrs.) Eno-Edet Traore (left) and Mrs. Grace Egeonu...at the former's 80th birthday

Professor Ade Ojo, Tony Adedoyin and some other ones who were not my classmates.

Which jobs did you first do after school and your experiences then?

Well, we were trained to be teachers so I was teaching French in my husband’s country in the secondary school. And then when they started the Polisario War between Mauritania, Algeria, Morocco over the Spanish Sahara, that’s why I decided to come back home because when there was Nigeria/Biafra War, I was not here and I didn’t like war situation where you have soldiers marching on the streets and you can’t find food to buy and so on. So I came back to Nigeria and I never went back.

How did you find your husband and how many children did you have?

As students: you know while we were students we mixed up at student parties, union meetings and so on. There’s interaction, socialisation among students from all over the world; students from all countries of the world. Toulouse is a very big University Centre; University of Toulouse in Southern France. Then we were also going to Paris for courses. My husband was a veterinary doctor. I have four children; two males and two females. They are all very big now. Their father was very intellectual minded, and political. He took active part in students’ politics and later in the country’s politics. He was in opposition politics; socialists ideology. So they were very intellectual minded. So our children grew up same way. They are all PhD holders.

What were your greatest marital challenges and how did you overcome them?

You know my husband was in politics, he

buried himself in opposition politics to fight the system and it was not easy. My challenge was that he sort of neglected the home front, so all the four children were really on my head. So I had to take up that challenge and even when I left Mauritania and came back to Nigeria my children were my raison d’etre. So I made sure they continued schooling, I supported them. When I came back I worked in the bank, UBA. And I made sure I sponsored my children without minding whether their father was contributing or not. And he was being bashed by the regime in Mauritania: house arrest which was political and he refused to go on exile like other political oppositions would do like in Nigeria; you stay put. So I took up the challenge of making sure that all the children are well brought up and pursue their education vigorously. So today all my children are well qualified and doing just fine.

What food do you like most?

Ah! The food (laughs)… Every birthday I prepare my Calabar food we call ‘ekpang-nkukwo’. It’s a tedious meal, but that’s what I like, you don’t cook it every day. Every birthday I prepare it so it becomes a tradition now. All my family members in Lagos coming for my birthday know that ‘ekpang-nkukwo’ will be there.

At 80 you still look strong; what’s the secret of your longevity?

Well, the secret is that I eat healthy food, I exercise and I rest. They say good food, exercise and rest; those are the three major things to keep healthy and I don’t have any disease or illness bothering my organs. I go for my medical check-up in France once a year. And I keep fit by doing more sports from maintenance sports to intensive sports. And I try to drop my weight. Maintenance

Growing up, what were some of the things you did, either at home or in school that make you laugh each time you remember them now?

I was among the troublesome students, even in primary school: very noisy, very troublesome, very playful such that even when am not well, I cannot talk, and am not part of the troublemakers, the Reverend Sisters will call ‘Eno-Edet, I’m sure she is involved’ whereas I might be fast asleep and others are making noise. I was just among the troublesome people. But we were also among the most brilliant students, we passed our exams.

So they liked us for that. But to keep us quiet and pin us down was a big problem. We were playful, troublesome, noisy; just the playful way.

Who were your best friends while growing up?

Ah! I can’t remember them now. But by the time we left UNILAG and went to France, the group I was with are the ones that I can remember and we still stay close up till now. Those are

Mrs. Eno-Edet Traore (3rd left) cutting her 80th birthday cake, flanked by children and grandchildren

Generally, what are some of the challenges you have faced in life and how did you overcome them?

The challenges in Nigeria are the hardships that are imposed on us the populace by bad governments. That’s what I’d say because things you can take for granted like light, like water, like driving your car on a good road; all those ones are very stressful in this country because the governments in place have not been fair to us from decade to decade. They never cared about us: we have too much money and too little brain at the head that’s what we say. No nationalist orientation, they are too selfish and then now, they use religion and tribalism to scatter the people because of their selfishness, to keep the masses down. The people have problem living good lives whereas we have all the opportunities in this country to live better lives. One has to learn to overcome because if you allow it to weigh you down, you won’t live to 80.

What genre of music do you enjoy and who is your favourite artiste?

Hahahaha! I’m not really one of those very fans of music and musicians. But before Fela died it didn’t even occur to me that Fela was a very famous musician. But after his death there were so many stories about him and that made me take interest in his music. But the truth is, am not a fan of music, I’d rather read novels, I like novels. I read novels a lot both from local and foreign authors. As at now, I’m reading the work by this lady, Chimamanda Adichie. I’ve read about three or four of her works. I find the young lady very fascinating. Otherwise, you know I studied Literature: I studied French and English Literature.

So I read a lot of novels: Nigerian writers, Russian writers, English writers and French writers.

Are you a sports enthusiast?

Yes, I like sports. When I was in school I was participating in sports but I never won any prize.

Swimming is my most loved sport. Up till now I swim a lot. Up till now I play golf, I go to gym, I do my bicycle, I do my little strength weight lifting, and then I do golf once a week, at least.

Presently, what’s your typical daily routine like?

Actually I’ve scaled down my activities. You know, I used to run my hotel, a small boutique hotel at the International Airport Road. But now that am old and I don’t want anything to stress me, I closed it down then I let out the apartment for short let, long stay, that gives me less stress.

So I supervise from time to time what’s going on there. Apart from that I go to the gym, go do my swimming at Ikoyi Club; I’m a life-member there now. And then I go for golf Fridays because it’s less crowded on Fridays.

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Nigeria’s Strides in Ease of Doing Business With international confidence in Nigeria on the rise, the Ministry of Industry, Trade and Investment recently held a public Documentary Screening, where it shed light on the processes that led to the country earning a World Bank ranking as one of the world’s 10 most improved economies in the world, Olawale Ajimotokan reports

Enelamah

A consistent pattern occurred last month where international attention turned on Nigeria, when world business leaders and stakeholders, gathered in Abuja for two major global conferences.

The first was the High-Level Policy and Private Sector Trade and Investment Facilitation Forum co-hosted with the ECOWAS Commission, in partnership with the World Trade Organisation (WTO) and Friends of Investment Facilitation for Development (FIFD). Several trade and investment ministers from African countries and investment experts in the world attended the two-day event.

The second event was the Sixth D-8 Ministerial Meeting on Industrial Cooperation to promote trade in the Nigerian capital, featuring trade ministers from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

The D-8 or the Development 8 nations are mutually cooperating on key areas, including technology, humanitarian development, tourism, transportation, agriculture, rural development, science, finance, banking, energy, environment and health.

The value of inter-trade among the D-8 nations increased from $50 billion in 1997 to $100 billion in 2015.

Apparently, the international confidence in Nigeria is the outcome of the positive World Bank latest report on Ease of Doing Business in Nigeria.

The report rated Nigeria, Africa’s biggest economy as one of the top 10 most improved economies in the world.

It noted that the Economic Recovery and Growth Plan (ERGP) and other reforms, including Nigeria Industrial Revolution Plan (NIRP), which deployed innovative approaches, improved and leapfrogged Nigeria by 24 places to 145 in ease of doing business.

The World Bank report highlighted the key reforms that made it possible to include starting a business, registering property, securing credit, paying taxes and dealing with construction permit.

Since May 2015, government has embarked on intensive policy reforms and initiatives

to align the industrial sector with stakeholders driven implementation process, specific deliverables, measurable outcomes and key performance indicators.

The catalyst for the reform process and overall implementing organ for the various policy frameworks around ease of doing business is the Presidential Business Environment Council (PEBEC).

The council was established by the federal government to eliminate bureaucratic and regulatory constraints to doing business in Nigeria.

The reforms championed by PEBEC are implemented by the ministries, departments and agencies (MDAS) with support from the Enabling Business Environment Secretariat (EBEC).

In February, PEBEC, headed by Vice-President Yemi Osinbajo, approved a 60-day National Action Plan on Ease of Doing Business.

The plan implemented by various MDAs, Lagos and Kano State Governments and private sectors stakeholders committed to a set of quick wins and desired outcomes across the priority areas.

The plan focused on making business registration seamless, fully automated with business registrations by Corporate Affairs Commission (CAC) now being conducted with 48 hours.

In addition to visa on arrival procedure, it also entailed new immigration procedure and introduction of world standard procedure that included reduction in import documentation requirements from 14 to eight and export documents from 10 to seven, palletisation of imports, advanced cargo manifests and scheduling of joint physical examination anchored by the Nigerian Customs Service (NCS).

In May the federal government signed into law the first Executive Order (E 01) on the Ease of Doing Business and how the order will be monitored, institutionalised, deepened and consolidated.

Reacting to the reforms that led to the country earning a World Bank ranking as one of the world’s 10 most improved economies in

the world at the documentary screening, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said Nigeria’s economy was being aligned to realise the growth targets in ERGP and diversify the economy away from non-oil economy.

Enalamah, who jointly addressed the stakeholders on wide issues with the Minister of State Industry, Trade and Investment, Mrs. Aisha Abubakar, described the story on the Ease of Doing Business as encouraging.

He said the federal government was bringing commitment and drive into the economy in several areas like digital economy, the promotion of primary and secondary goods, increasing access to finance and requisite skills for Micro, Small and Medium, Enterprises (MSMEs), Growth and Employment (GEM) project, trade negotiations, tourism and addressing multiple taxations for businesses.

Enalamah said that the Nigeria Industrial Policy and Competitiveness Advisory Council that is in existence to support government in the formulation of policies that deepen the nation’s industrialisation goal has embarked on initiatives to install 18,000km of fibre optic across the country to improve broad band penetration. The installation of the fibres will promote digital economy.

In addition, the Council will embark on select strategic power projects to deliver an additional 4,200 megawatts of electricity into the national grid. “ I am confident that the Industrial Council, a high-level council of private sector industrialists that was started a couple of months ago is on its way up, working with the government and the ministry to implement the NIRP. It is making giant strides in the area of power generation and broadband penetration across the country,” Enelamah said.

He described infrastructure as central to the ERGP which explains why large chunk of money is budgeted for infrastructure by government as a priority through deliberate inter-ministerial intervention particularly on the generation of electricity.

“It is important to collaborate with other ministries and I use power as an example.

There is lot of effort on going with the economic management and the Industrial Council. The result may look slow, but I totally agree that we must work with other ministries to make sure people get what they need. Also, when we are talking about the issue of tomato, for example, one of the biggest issues with tomato is that even though we don’t produce enough, the much we produce, a lot of it is wasted, that is why in dealing with tomato policy, the whole value chain –haulage, transportation logistics- is a major part of that. That is why must have a task force for doing it. We need better infrastructure to avoid wastage.”

He said the ministry was equally passionate about tourism and has entered into partnership with the Ministry of Information and Culture to promoting the sector.

“The ease of doing business goes together with tourism. When the airports are busy, where the immigration officials are friendly, when the road transport and public transport is available in Nigeria, it will simply make it easier for people and encourage them to continue to come. Even Nigerians in Diaspora will still need to come home often. We need to do more to attract travellers to our borders,” he added.

The Minister of State for Industry and Trade, Mrs. Abubakar rationalised the suggestion that technical centres manned by experts from China, Japan, Taiwan and Korea be built for young technicians to enable their training and by extension the manufacturing of electrical softwares in the country.

She said she was disposed to clustering of the youths who have interest in technical vocation by giving them appropriate training and certification.

“This is something that ITF does, working with NERDC so that proper certifications are given after the appropriate learning time, because we do have a lot of electricians and technicians on the streets, who unfortunately don’t all have the same collaborations. One of the issues which when Industrial Development Centres come up eventually they will be addressed,” she said.

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T H I S D AY FRIDAY DECEMBER 8, 2017

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For Baba Sala, It’s No More a Laughing Matter In name and practice, Moses Olaiya, popularly known as Baba Sala, stands for comedy. For decades, he was the primus inter pares of the industry. But today, like the law of diminishing return, the man whose major known trade is to make people happy, has suddenly become the opposite of his real self.

The comedian, who retreated and maintains the back seat few years ago, after enjoying patronage and limelight for decades, is now suffering from stroke.

At a briefing held on his biography due for presentation on December 4, Baba Sala, who spoke with difficulty, noted, “I need help.

Nigerians should help me. I am not dead yet, they should not let me die suffering.”

A pioneer of the now very lucrative comedy trade and a toast of millions across the South-west from the 60s to the 90s, Baba Sala is also a rounded artiste who made his marks in other areas of the performing arts, especially music.

The King of World Beats, King Sunny Ade, for instance, had his skills honed under the tutelage of the Ile-sha, Osun State-born performer.

That Baba Sala is first among equals is indisputable and though many assume that they know all about the comedian, especially his travails brought about by pirates, the new book, entitled ‘Triumph of Destiny’ reveals unknown facts about the artiste.

Published by Sunshine Consults and written

by Collins Oyedokun, Akinola Babatunde and Kunle Ajani, who not only want to document his life and achievements for posterity, but were also moved by the old man’s recent health challenges, the foreword is written by Professor Gbemisola Remi Adeoti, of the Obafemi Awolowo University, Ile Ife, “The book chronicles the pride of place that

Baba Sala's present state

Baba Sala has in the Nigerian theatre industry as a comedian and consummate entertainer.

It captures the antecedents and essence of the creative energies of a comical trailblazer,” Collins explained at a news briefing held at Lekki, Lagos during the week.

The one-time bride of the country’s entertainment industry looked frail and breathed with difficult at the event, when he spoke in Lagos recently.

He could barely walk, as he was supported to the venue by two people.

Although he is 80, his family, including one of his wives, Funmi, said the octogenarian was not suffering from old age but lack of funds

for medical treatment.

Baba Sala’s investments, according to his first son, Reverend Dele Adejumo, had all been wrecked by circumstances and debt incurred as a result of scrupulous business man, who pirated his ‘OrunMooru’ many years ago.

Among his investments listed by Adejumo are the Awada Spot in Ibadan; Alawada Standard Hotel, Ilesha; Alawada Records, Ibadan; and IbukunAlawada Photo magazine.

Adejumo said, “He has investments but they have all been wrecked by mismanagement. He also had a three-storey building in Mushin, Lagos which he had to sell to offset debt incurred when his work, OrunMooru, was pirated. We still have some of his recorded works not in public yet but machines that will be used to transform them to an acceptable format are not easily available. We do not have the kind of money they are charging us.

“We have been told that baba needs a lot of money for medical treatment abroad. He is suffering from a stroke and other ailments.

There are many people of his age who are not like this. We are trying our best as family members. We take him to the teaching hospital weekly but he needs proper medical attention.”

The book, ‘The Triumph of Destiny,’ which was co-authored by Babatunde Akinola, Collins Oyedokun, and Kunle Ajani, will be presented in Lagos.

“The book chronicles the pride of place that Baba Sala acquired for himself in the Nigerian theatre industry as the first comedian and consummate entertainer. It captures the antecedents and essence of the creative energies of a comical trailblazer,” Collins said According to the authors and the promoters of the book –‘Triumph of Destiny’, the book

launch is one of the efforts being made by family and friends of the Ijesha-born comedian to rehabilitate him.

The alarming state of Baba Sala’s health, bankrupted by evil persons who pirated his OrunMooru, curbed the enthusiasm of some of the journalists who had intended to obtain exclusive interviews from him.

Rumoured dead twice (two years ago and last August), the Baba Sala that attended the briefing was a stricken man ravaged by stroke.

He needs urgent medical intervention, a luxury his family admitted they couldn’t afford alone anymore Dressed in a white buba and sokoto with a red cap to match, he was supported on both sides as he walked into the venue, grimacing in pain. He gritted his teeth when he accidentally hit his leg on a chair. He also had hearing difficulties as people had to speak directly into his ears before he could respond. His hands were swollen and shaking; his breathing laboured.

“I’m sick and need help. I am alive. But I’m sick. I am too weak to talk and I can’t walk. I don’t want to be confined by paralysis. I don’t want to die like this. Nigerians should please help me,” he pleaded in his brief remarks.

The Chief Executive Officer of Precision Edge Limited, facilitator of the news briefing, Mrs. Bidemi Ojoawo Oladoye, also requested young musicians to come to Baba Sala’s aid. “A legend doesn’t deserve to die like this. People like Davido, Wizkid, 2Face Idibia, Kunle Afolayan among others can help and should help Baba Sala,” she said.

Proceeds from the sale of the book, which the family and writers hope will be well purchased, will be used in taking care of the inimitable trailblazer.

YEDI, NYENTHA Take HIV/AIDS Campaign to Communities To mark the World AIDS Day 2017, Youth Empowerment Development Initiative (YEDI) and National Youth Network on HIV/AIDS Population and Development (NYNETHA), took campaign to four local governments areas in Lagos State- Lagos Mainland, Kosofe, Agege and Ajeromi, educating and informing the residents about HIV/Aids and prevention The Head of programmes, YEDI, Mrs. Oluwatomisin Adeoye said that the chosen theme for the World AIDS Day 2017 ‘My Health, My Right’ is to empower people on their legal right to quality healthcare and the importance of being healthy, most importantly creating awareness on HIV/AIDS and preventive measures.

“The reason for the theme is to educate Nigerians that they have the right to quality and accessible healthcare. This year we planning to reach out to at least 5,000 people in four local governments in Lagos State; Lagos Mainland, Agege , Ajeromi and Kosofe Local Government Areas, where we will be enlightening people on HIV/AIDS through a football match and other activities. We have considered the four local governments out of the numerous local governments in Lagos State based on statistics, centre-hold communities and rural settings.

“We have been able to capture 127,000 adolescent in Nigeria as regard HIV/AIDS, When we visit the communities for training, we reach out to them through our various activities like; in-school trainings, to meet with children educating them about HIV/ Aids and preventions. With that, we have been able to reach out to 50,000 adolescents

YEDI's World AIDS Day campaign officials

in Lagos State,” she said.

The State coordinator NYNETHA, Mr. Babamole Olanrewaju, noted that the World AIDS Day is not a day for celebration but a day to preach the gospel of HIV/AIDS free to people who lives in the rural areas with no knowledge of HIV/AIDS and it preventions.

He said: “World AIDS Day is not just a day but it’s an opportunity for us all to come together and talk about HIV/ADS. When the first case was reported, people thought it was false until it escalated and now over

three million people living HIV/AIDS. Olanrewaju lamented that most people fall victim of HIV/AIDS due to lack of responses in their communities, urged the government to implement a budget on HIV/AIDS response in the local government and state levels.

Speaking on stigmatisation of people living with HIV/AIDS, Lagos General Secretary of NYNETHA, Mr. Isaac Moses, said that most youths who were affected by the disease do not have access to treatment based on stigma another reason why the coalition is formed to

spread the gospel of HIV/AIDS and ensure victims get access to quality healthcare.

Isaac also mentioned that HIV/AIDS have the tendency of reducing the labour force of a nation, thus, affecting the development of the country. ”The truth is that we have the potential in terms of labour force. If nothing is done about HIV/AIDS now and it keep affecting our youths, then there is no future. So our future is now. The access gap needs to be filled,” he noted.

Elliot Endorses Simba Den New Lagos Store Simba Den, retail arm of the Simba Group has been given a thump up by Hon. Desmond Elliot who lauded the company’s contribution to the Nigeria’s power backup market, with the reopening of its ultra-modern showroom at Eric Moore, Surulere, Lagos.

It is the chain of successful retail outlets specialising in the sale of power backup and power protection products, supported by the award-winning 24x7 after sales service of Simba Service.

Head of Operations, Mr. Rajneesh Gupta described the store as a one-stop-shop for inverters and related equipment, where the focus is on providing consulting to customers who may not know exactly what they require in their homes and offices.

He noted that Simba Den Stores, also present in Abuja, Ibadan and Yola, provide world class power products, such as inverters, batteries, solar solutions and power protection devices. According to him, the store is home to leading brands such as Luminous, Genus, Simba Solar and Sollatek.

Celebrity guest, Elliot, who cut the tape to declare the showroom open, lauded the presence of Simba Den in the area, saying the quality products available in the rejuvenated store with affordable prices place Simba ahead of competition.

Elliot, who represents Surulere constituency in the State Assembly noted that “as we are trying to get power supply right in the country, efforts by Simba Group to bridge the gap by ensuring the growth of the economy through its associated products is commendable.”

L-R: Business Promotion Strategist, Simba Group, Mr. Suresh Pykkat; General Manager, Mr. Sohan Sharma, Elliot; Gupta and Chief Operations Officer, Mr. Vijay Mishra, at the event

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Finland Minister Commends Entrepreneurial Spirit of Nigerian Youths Says globalisation, free and fair trade create win-win opportunities Peace Obi The Minister for Foreign Trade and Development of Finland, Mr. Kai Mykkänen in a recent visit to Nigeria has commended the country for the active participation of her youth population in the economic development of the country as industry players and entrepreneurs in various sectors.

The minister, who visited Nigeria with a business delegation of over 20 companies from Finland from November 15-17, remarked that Nigeria is uniquely blessed with youth entrepreneurs who are running their own businesses. He noted that it is one of the areas Finland would learn from the country.

Visiting with a business delegation of over 20 companies, Mykkänen said that it was a reflection of the increasing interest of Finnish industry and commerce in the growing markets of West Africa, especially Nigeria. Adding that the business promotion visit would enable them to understand how they could help Nigeria develop bilateral trade by providing expertise and necessary finances for projects in areas like

The business delegation from Finland

energy, water treatment and waste management.

The minister who disclosed that Nigeria and Finland have continued to record impressive progress in their bilateral and business relationships said that it hopes to “identify companies which we have on board, help them to engage with

Nigerian counterparts, ministries and private sectors.” And that the visiting companies represent world-class know-how and expertise in cleantech, ICT, education, energy, health, and well-being, among others The minister, who described his first visit

experience to the country as well as the continent of Africa as an interesting one, said that the visit would offer many interesting opportunities for local companies as well as the public sector. Adding that Finland believes that globalisation, free and fair trade create many win-win opportunities for countries with common interest.

According to him, “We are here to help our development agencies like Fin-Pro and other ministries to help Nigeria to develop. Already, Fin-Pro is having necessary investments here.

Basically, this is a trade promotion in the sense that those companies have solutions when it comes to recovering of oil-spilled land, energy, healthcare, technology, efficiency of operations, education, among others.

“Finland’s approach combines public-private partnerships with high-level technological expertise, and the ability to develop practical solutions for tackling global and local challenges. The Finnish economy is one of the most competitive in the world. Adopting new technologies and fostering a culture of innovation have been important success factors,” he said.

Omu Resort Set to Unleash First Ever Food Festival Ikenna Ekwerike Lagosians have been alerted to get ready for an unforgettable mind-blowing experience, such as never seen before, this Christmas, at the maiden edition of the Omu Food Resort Festival billed to hold from 23 to 24 December, 2017, at the nature-wonder Omu Resort premises, Bogije Town, Ibeju-Lekki, Lagos.

The Omu Resort Food Festival, an annual event is an adventure for lovers of good and healthy food to explore their taste buds. The 2017 Christmas edition marks Omu Resort’s first season of celebrating the rich diverse culinary endowments in Nigeria and beyond.

According to Moji Ibhaze, Acting General Manager, Omu Resort, Lekki, Lagos as Nigeria’s Centre of Excellence is not just good as a viable business destination for both Nigerians and

Tourists having a feel of the resort

expatriates alike, but equally good enough and

capable of providing natural homeland foods thus, making it a home away from home.

“Lagos is home to all ethnic groups from across Nigeria; but not just Nigerians, several international groups also have heavy presence in Nigeria dating back to so many decades.

“You have the Chinese, the Indians, Senegalese, Ghanaians, Beninois, Igbos, Hausas, Yorubas, South Africans etc. It is about celebrating Christmas together,” he said.

He added that the food festival would be featuring a culturally diverse menu consisting of Chinese, Continental, Senegalese, Nigerian and Indian foods.

He noted: “The food festival is about celebrating Nigeria’s diversity through food and culture while also showcasing the food and culture of visitors to Nigeria. In fact, the event aims to bring different cultures together while guests will learn about

Sahara Group Celebrates 1200 Man-hour Volunteer Activity in 2017 Peter Uzoho Volunteers may be behind-the-scenes unsung heroes; but they embody the value of “being there for others” – which is an integral part of the ethos of Sahara Group, a leading African energy conglomerate.

Whilst the world celebrates the International Volunteer Day (IVD), Sahara Group is delighted to express its gratitude to staff and volunteers across the globe for relentlessly giving part of their time, talent and treasure to promote sustainable development.

The IVD is a UN authorised event that provides a platform for volunteers and organisations to “celebrate their efforts, to share their values, and to promote their work among their communities, non-governmental organisations (NGOs), United Nations agencies, government authorities and the private sector.”

Apart from mobilising thousands of volunteers every year, the United Nations Volunteers (UNV) programme contributes to peace and development by advocating for the recognition of volunteers and working with partners to integrate volunteerism into development programming.

In keeping with the 2017 Theme, ‘Volunteers Act First. Here. Everywhere’, Sahara Group committed over 1200 professional hours through volunteering activities on several Sahara

Sahara Group staff, Omolola Jaiyesimi, helping with vocational training as part of the organisation's volunteering initiatives

Foundation projects. “This selfless support, commitment and dedication led to the delivery of life changing projects in various countries where Sahara operates and resonates with our conviction that volunteering a policy – it is what we do with much gusto,” says Bethel

Obioma, Head, Corporate Communications, Sahara Group.

One of the core philosophies of Sahara Foundation is the involvement of staff members in the implementation of Personal and Corporate Social Responsibility (PCSR) initiatives. This reinforces the significance of ‘Personal’ in the PCSR mandate that guides Sahara Foundation’s interventions across the globe.

Sahara Foundation Manager, Oluseyi Ojurongbe, reports that in 2017, more than 20 students from different secondary schools in Lagos were mentored by Sahara staff via the I.N.V.E.N.T Mentoring platform. In addition, Sahara staff also presented career and life skills talks to over one thousand youths through the SaharaHub – Sahara Foundation’s online platform for promoting extrapreneurship.

In 2017, staff donated computers, educational materials and guide canes to students of the Bethesda Home for the Blind. Other cash and in-kind contributions have also been made towards various charitable projects.

“On this commemorative day, we salute all our staff volunteers whose commitment to the cause of empowering lives and giving wings to aspirations remains unwavering. Sahara is proud to celebrate our volunteers and their counterparts all over the world today and declare them the real heroes of 2017,” adds Ojurongbe.

Unusual Praise 2017 to Hold on Saturday The 7th edition of the annual ‘Unusual Praise’ gospel concert will take place on Saturday 9th December, at the Atrium Event Centre, Lekki Phase 1 Lagos. It promises to feature an array of strong cast of gospel ministers from Nigeria and beyond alongside a host of top gospel artistes all drawn from various Christian denominations.

Hosted by the Catholic Church of Divine Mercy, Unusual Praise 2017 is expected to surpass the massive turn out recorded in previous editions of the event reported widely as the biggest Catholic gospel concert in sub-Saharan Africa.

Among the artistes to feature at the “unusual evening of unusual happening and unusual blessings,” the words of Sammie Okposo, one of the leading gospel artistes, are Nathaniel Bassey, Sinach, Chioma Jesus, Frank Edwards, Joe Praiz, and Chikah Jee. Speaking during a press conference to announce this year’s edition, the chairman of the Unusual Praise 2017, Chimezie Emewulu, said over 20,000 people are expected to gather for a night of 12 hours of divine praise, worship and blessings.

According to him, Unusual Praise is believed

“to be a time of unusual encounter with God. So twelve hours of pure praise and worship is very unusual. It’s an opportunity for evangelism also because we invite people from all denominations; especially Muslims, especially atheist to come.

“We have had some testimonies, just some few testimonies. But we expect a lot of testimonies of conversion, testimonies of brokenness this year due to the level of preparedness that we have made. So we invite everybody to come and join and be part of the unusual praise and be a part of the unusual encounter this year.”

food and cultures different from theirs.”

Ibhaze announced that Omu Resort was on a mission to expand the frontiers of tourism in Nigeria while using the food festival to celebrate the country’s unity in diversity. He assured tourists that the Resort was a place where fond memories were served daily.

“We have attractions other people run as single businesses in one place and at affordable rates. We hope participants go away with fond memories of the festival which will include traditional dances, the food festival proper, as well as the various regular activities the resort offers,” he concluded.

Omu Resort is home to 21 attractions including a zoo housing animals like the lion, hyenas, giraffes, ostriches, etc. Activities in the Resort include: quad biking, kayaking, go-carting, sea world, a water park, blade skating, paint balling, amongst others.

Buy a Home in Lagos with Uninterrupted Power Supply Solomon Elusoji This week, one of Nigeria’s leading property developers, Nedcomoaks, signed a Memorandum of Understanding (MoU) with Forte Oil. The details of the MoU ensure that homes sold by Nedcomoaks are fully fitted with Forte Oil’s ‘Green Energy’ solution for medium income earners.

‘Green Energy’ is a solar power solution that comes with four panels, four 100 amps and 12 volts batteries. The 1.5 KVA solar panel is sold at a unit price of N700,000 by Forte Oil, but will be available for free for every home bought from Nedcomoaks, which has a gallery of bespoke suits for sale in the Lekki-Chevron axis.

“This is a remarkable day for us as a company,” Chief Executive Officer at Nedcomoaks, Kennedy Okonkwo, said during the MoU signing, which was held on one of the company’s properties in Lagos. “We have been existing for 10 years within the Lekki axis and power generation has always been a major issue when we deliver homes to clients. Over time, we have tried several energy solutions and at a point we got fed up.”

But that frustration ended when Nedcomoaks was approached by Forte Oil. “The product is good,” Okonkwo said. “We have tested and you can be guaranteed of its quality.

CEO at Nedcomoaks, Kennedy Okonkwo

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Animating Africa In order to develop the animation industry in Africa and explore its huge potentials, stakeholders who spoke at the maiden edition of Lagos International Festival of Animation workshop recently believe collaboration is highly necessary, writes Peter Uzoho

L-R: Co-founder, Quadron Studio, Mr Uche Anisiuba; Storyteller/Director, Ewonro Amune; Festival Director/Managing Director, USP Brand Management, Muyiwa Kayode; Creative Director, Color Red Studio, Tochukwu Ogbogu; and Filmmaker/Animator, Collins Egba, at a workshop session, at the LIFANIMA 2017 in Lagos…recently

Sometime in June 2017, players in the animation industry made their way into the conference room of the Freedom Park, Broad Street, on the Lagos Island to partake in the maiden edition of the Lagos International Festival of Animation (LIFANIMA).

Screening in the room on arrival of participants was ‘Adventurers of Turtle Taido’, a Nigerian made 2D educational animated cartoon series produced by Muyiwa Kayode, Festival Director and Chief Executive Officer of USP Brand Management.

Served with some coffee after settling down on their seats, attendees comprising local and foreign animators, film makers, special effect artists, animation consumers, advertisers and investors, got some relaxing moment as they savoured the thrilling content on the screen.

The festival was organised by USP Brand Management in partnership with some notable media organisations in Nigeria and, had the theme: ‘Collaboration AsKey to Actualising Animation Projects’.

The programme, according to the organisers, sought to bring all the players into one umbrella, to have a common front in order to help develop the animation industry. Having operated over the years with the ‘lone ranger mentality’ and realised the huge loss it had caused them collectively and individually, they decided to set up a platform like LIFANIMA where they can unite and work as a whole to develop the industry. According to them, it is better for them to collaborate among themselves, harness their different talents and reap from the huge benefits that abound in the blossoming animation industry in Africa.

In the workshop session, Kayode in his welcome address stated that the industry was just beginning to blossom in Nigeria and across Africa. “LIFANIMA will provide a platform for animators to interact with other stakeholders for optimum value creation and rapid growth of the animation industry,” he said. According to him, the quality of entries received for the maiden edition confirmed their belief that there were tremendous animation and special effects talents lying across the continent. “These talents must be fully

exposed and promoted with the expected impact it will have on the creative industry as a whole,” Kayode noted.

He said the festival had come to stay, assuring that it would only get bigger and better. Kayode explained that the call for stakeholders to come together was to produce better work and keep raising the bar, pointing that “animation is the next big thing in Africa.”

He disclosed that part of the plans of the stakeholders was to create an online platform where people can go to, in times of need for animation products and relevant information on animation. According to him, many people need animation but don’t know where to go to or whom to run to for advice and support.

He highlighted funding as another challenge faced by animators which he noted was needed to help animators actualise their projects.

The director explained that his spending six years trying to produce an animation series for television, for Nigerian children, was an eye opener for him, saying, that showed him the need to enhance the animation industry in Nigeria. “So I realised that we need to create a platform for animators to come together and push a common front and develop the industry-share ideas, collaborate and create a stronger platform for telling own stories,” Kayode said.

Reacting to alleged poor production contents in the Nigerian and African animation industry, Kayode likened such criticism to what happened to the Nollywood in the 90s whose products he said, were poor but had engaging content. The convener however, advised animators not to be discouraged by the negative criticism of their works by people. He said rather than being carried away by the urge to produce an animation that has perfect technicalities and aesthetics, they should focus more on the stories, which he said, were the most important.

“We should focus on getting the most compelling stories to the public; we should not be bothered about producing a perfect animation; animation can never be perfectperfection is a process. If we continue waiting

till when we’ll have a perfect animation we’re not going to get to anywhere. So the message for us at this starting point is the message- the content, and not the technical quality,” he advised.

Also speaking, Co-founder, Quadron Studio, Mr. Uche Anisiuba, who concurred with the call for collaboration among animation stakeholders, noted that collaboration was key to actualising animation in Africa. “I think collaboration is essential in taking us to the next level. It’s through collaboration that we can stand as a sustainable industry in Nigeria and Africa,” he said.

Anisiuba stressed that the problem with animation industry in the country was that everybody wanted to start in one day and make it the next day. “The issue is that everybody wants to be the next Disney,” he said. He explained that animation was not a one man thing, adding that, it needed collaboration to thrive.

Anisiuba noted that tools needed to work in animation industry were very complex and were lacking in Nigeria. He said when he started he did not have the opportunity of having people to work with as everyone was going their own separate ways. Pointing out the opportunities hanging around for them in Africa, Anisiuba said the world is coming to Africa to get stories. “The West and Europe are taking African cultures back home to add to their own. So really, animation is the next big thing in Africa,” he added.

Contributing, Animator and Filmmaker, Mr. Collins Egba, stated that apart from lack of fund and resources, another challenge facing the industry was compromisation of the production content by animators. “Apart from lack of fund and resources, we animators often times compromise the quality of our production. This makes investors not to be willing to invest in our animation projects,” Egba said. He also pointed lack of existing standard for quality as another problem in the industry.

Lending his voice, Creative Director, Color Red Studio, Mr.Tochukwu Ogbogu, said the hard economic realities, the struggle to get

a fair share of the market, and other factors were really challenging people in the industry.

However, he noted that players in animation had a lot to achieve, calling for urgent response to the need for collaboration. “We all need to come together and brainstorm on how to move the industry forward. We’re still in the one man bandwagon thing. The way forward is to come together. The one man thing keeps limiting us. I believe in coming together and forming a team,” Ogbogu noted.

Also noted as a problem by the speakers was that everyone in the industry “wants to be the boss and no one wants to be under someone.”

According to one Mr. Akinkunmi, a member of the audience, there is no specialisation among them. “Here in Nigeria, one person does a lot of work in the industry. One person is the storyteller, the animator, the producer, and so many things,” he said.

On his part, another member of the audience and consumer of animation products, Mr. Adeniyi Kunnu, advised that as a way forward for the industry, the stakeholders should try and have a registered association of animators in Nigeria that would be regulating the activities of members of the profession.

This, he said, would checkmate unethical behaviours among them, and also, protect their creative works from unauthorised use.

The festival terminated at the cocktail and award night where outstanding animators were honoured with special prizes having emerged winners in each of the four categories of the awards at the festival.

In the best 2D animation category, O. J. Okosun’s animation series, ‘Sango and Friends’ emerged winner. Ekene Okoye’s ‘MolueThe Revolt’, won the best 3D Animation. In the animation commercial category, Olumide Adeosun’s ‘Mainfest’ carried the day, while in the special effects category, Ekene Okoye’s ‘The Revolt’, also emerged the winner.

Animation involves bringing artwork and characters to life with such precision that they truly seem real. Animation is part acting, part storytelling, and part visual art - it's a mix of both electronic arts and traditional animation skills.

34/XTRA

08.12.2017

End of a Perennial Feud?

After an intervention by the Lagos State House of Assembly, Okegun-Odofin in Ibeju-Lekki is about to experience a phase of tranquility after years of political infighting The Lagos State House of Assembly had, in the middle of this year, mandated its Committee on Judiciary, Human Rights, Public Petitions and LASIEC, led by Hon. Funmi Tejuosho to look into the crisis that has arisen in the community, following the purported creation of Okegun-Ladeseso by the Onibeju of Ibeju Lekki, Oba Olusegun Salami, allegedly in connivance with the Lagos State Commissioner for Local Government and Chieftaincy Affairs, Alhaji Musulumi Folami. The creation of Okegun Ladeseso also led to the installation of one Mufutau Olamiji as the village head or Baale of the new community.

The move upset the sitting Baale, Ismaila Ogunkoya, who has been on the seat since April 1, 2008.

About five years ago, Oba Salami allegedly imposed Olamiji, his former personal assistant, PA, overnight as the Baale of Okegun Odofin Ladeseso.

Okegun Ladeseso and Okeogun Odofin are just about 500 metres apart. But while Ogunkoya is willing at every time to brandish the gazette of his own community by the Lagos State Government, Olamiji does not seem to have any. In fact, at the sitting of the committee, he had told the stunned members that he did not have his gazette, as he insisted that he was coming from Ibadan, when he was invited for the sitting.

While the Okegun-Ladeseso is by the waterfront where serious and massive dredging is ongoing, Okegun Odofin, the parent community is by entrance of the community.

Ever since then and till now, there has been nothing like peace between the communities located closely.

According to findings, the bubble burst when Chief Ogunkoya (Baale Okegun Odofin) heard that the Oba who installed him as Baale is also planning to topple him by making Baale of Ladeseso, the Oba of the entire Okegun Odofin and Ladeseso, meaning that he would be put under the Oba or ousted.

According to sources around him, Ogunkoya has put in so much effort into the community, uplifted the community, equipped the community primary school with books and other facilities befitting of a school, installed boreholes and ensured electricity for the community.

By the estimation of the Baale’s elder brother, Chief Shamsudeen Ogunkoya, Chief Ismaila should be the rightful person to be prepared for the Oba of the community.

“My brother, who is the Baale of this community has a cordial relationship with the Oba and has contributed immensely to the well-being of this community. I am surprised that the Oba could plot with certain people to install and force another person against my brother. To the best of my knowledge, if the plot is not checked immediately, the consequences may be disastrous,” he said.

But in a chat with reporters, Oba Salami described the Ogunkoya family as those who wanted to reap where they did not sow. He said that he installed and crowned both Ogunkoya and Olamiji but in separate zones.

He explained that both of them wrote applications for an upgrade of their positions, meaning from Baale to Oba. “Again, they both have the right to upgrade to Oba and they have paid the necessary dues. It is also possible for both of them to become Oba in their respective zones. One thing remains certain, I am their father,” he said.

Oba Salami admitted that Olamiji was his PA but also his first cousin. He reiterated that he appointed both: “My kingdom started way far from Abijo, before Ajah till a little far beyond Akodo. My kingdom is almost one quarter of Lagos State, about the biggest,” he said.

Oba Salami revealed that the tussle among them all is on land issue. He alleged that the Ogunkoyas want to take total control of the lands in Ibeju-Lekki and its environ.

“There is actually no problem with us all. They are the ones who want to Lord themselves over on the people,” he said.

Oba Olusegun Salami

Going by history, Oba Salami explained that the Aladeseso migrated from Benin, Ife land to the Ibeju-Lekki area of Lagos where they met an existing Oba. Meanwhile, Olamiji also claims that it was the Ogunkoyas that were fomenting trouble between the two communities. He said they framed him up, got him arrested and took him to Federal SARS where he was kept underground for several days. He accused the Ogunkoyas, especially the Baale of Okegun-Odofin, of being interested in the waterfront that is some minutes away from the Free Trade Zone.

Regarding the issue of how his paper was first approved by the Lagos State Government, he said, “It is the issue of nepotism. It is who you know in government. I did nothing to stop his paper but I actually used whom I know to push forward my paper.”

When he appeared before the House Committee, the Chieftaincy Commissioner, Folami, maintained that he approved the papers of Olamiji following all due process.

But his explanations did not go down well with the committee, who insisted that due process did not really mean doing what is right. Folami had argued that Olamiji’s papers passed through all the required levels before getting to his table.

At the end of the sitting, the committee recommended that the ‘Baaleship’ of Olamiji be rescinded in order for peace to be restored in the community.

Oba Salami crowning Ogunkoya

The committee also recommended that the creation of Okegun-Ladedseso within the Okegun-Odofin community was an illegal exercise.

In a document obtained by reporters on the outcome of the public sittings on the issue by the Tejuosho-led Committee, it was gathered that the three-member team met with all the parties and stakeholders on the issue before arriving at its decision.

It would be recalled that in June, hundreds of residents of Okegun Odofin in Ibeju Lekki area of Lagos State had stormed the State House of Assembly to stage a peaceful protest over the Baale stool of Okegun Odofin.

They protested the alleged creation of Okegun Ladeseso within the community by Oba Salami and Folami. A petition from the Aladeseso ruling house of Ibeju Lekki had urged the Assembly to call Olamiji to order.

He was said to have proclaimed himself as the Baale of Okegun-Ladeseso. It was called on the House for urgent intervention.

The petition further said that there is never a place known as Okegun-Ladeseso which Olamiji claims to be Baale of in the entire stretch of Ibeju Lekki, alleging that Olamiji has the backing of the Onibeju of Ibeju-Lekki, Oba Olusegun Salami.

Consequent to the petition, the committee had three different meetings with the parties on the issue, including, officials of the Ministry of Local Government and Community Affairs, the respondents-Onibeju of

Ibeju, Oba Olusegun Salami, Alhaji Raufu Otakunmaya and Prince Bayo Arase. Other invited parties were the petitioners which include, Prince Alade Ogunlana, Chief Lateef Folami Jinadu, Mr. Lateef Kamoru, the Baale of Okegun-Odofin, Chief Ismaila Ogunkoya, Olamiji, among others.

According to the committee, its findings after conducting a fair hearing to all parties include a pronounced complicity of the Ministry of Local Government and Community Affairs in the whole episode.

“The committee was able to establish a strong connivance between the top officials of the ministry and the respondents to subvert the system by clandestinely working to give Mufutau Olamiji leverage over Baale Ismaila Ogunkoya,” the committee report said. “What used to be a cordial and harmonious relationship between the petitioners and respondents in Okegun-Odofin community at Ibeju is being gradually eroding by conflicting personal interests over various land and transactions going on in that community.”

Making its recommendation to the leadership of the Assembly under Rt. Hon. Mudashiru Obasa, the committee spelt out four recommendations that could restore peace to the community: “That the committee found absurd and unacceptable the motive behind the creation or carving out of the newly created Okegun-Ladeseso out of Okegun-Odofin, mainly to checkmate the influence of Baale Ismaila Ogunkoya. Hence, the Committee recommends that the Baaleship of Mufutau Olamiji be rescinded in order to bring a lasting peace to that community.

“Accordingly, Baale Ismaila Ogunkoya remains the only Baale of Okegun-Odofin, which includes the purported newly created Okegun-Ladeseso, thus, such new creation should be taken as null and void.”

The committee also recommended that all unlawful and reckless land transactions at Okeogun-Idofin by Oba Salami and Mufutau Olamiji should henceforth stop.

“The Commissioner for Local Government and Community Affairs should take appropriate action by revoking the gazette given to Mufutau Olamiji, who was maliciously installed after the coronation of Baale Ismaila Ogunkoya

by Oba Salami himself,” it said.

Although the Lagos Assembly is yet to debate the report, there is high hope that peace would soon return to the community once the House ratifies the recommendations of the committee.

35/ENTREPRENEUR

08.12.2017

Max-Gbinije: Writing a Will is Not a Death Wish Trusteeship business and its associated services like writing a Will and estate planning, is one aspect of planning that is very uncommon among Nigerians. Many Nigerians associate it with death, as such many for fear of death shun the idea. Stanbic IBTC Trustees Limited, recently embarked on a nationwide campaign aimed at enlightening Nigerians on the relevance of Wills and estate planning. The company is doing this through what it tagged 'Stanbic IBTC Legacee,' a reference to intergenerational wealth transfer. In this interview with Ebere Nwoji, Chief Executive Officer of Stanbic Trustees Limited, Binta Max-Gbinije, spoke on fundamental issues concerning Wills and estate planning in Nigeria our earnest expectation is that the bias will fade away as more people become more informed.

What is the clichéd saying? Be informed so that you are not deformed!

Can you give us an insight into trusteeship business in Nigeria; how will you appraise this aspect of the financial services industry?

The Trusteeship business in Nigeria is one of the emerging important aspects of the economy.

Over the years, we have seen the emergence of several Trustee companies springing up across the country. The need for Corporate Trustees has been on the rise in many commercial ways which may not be popular to those who aren’t players in the capital market. Trustees are there where corporate or government bonds are to be issued, where there are public investment funds and schemes to be managed, just to mention but a few. Thus, I dare to say that the trusteeship industry is a fast growing sub-sector in Nigeria.

Informally, trusteeship is an old practice among various ethnic groups in Nigeria. For instance, it is not unusual for a man with young children to put his property in the care of a trusted friend or family member for onward transfer to his children when they come of age. That may be a form of verbal will or estate planning.

Max-Gbinije

Can you talk briefly on Will writing/estate planning, in relation to some of the prevailing cultural practices or any other inheritance practice?

As Africans, we have had several customs and traditions regarding inheritance of a deceased person’s assets, for example, the primogeniture customary practice, which leaves the whole of the deceased’s assets to the eldest son as inheritance or those that disenfranchises female offspring of a deceased from any inheritance. These have over the years resulted in family squabbles and some discord. One easy way to resolve such would be to engage in a proper estate planning exercise which would require a person to do any of or a combination of the following - write a Will, which clearly states his or her decision and intention regarding the management of the assets left behind: Under the laws of Nigeria, a Will written by a person, supersedes whatever customary or religious practice that such person is subject to.

Similarly, an individual can set up a Trust where all or some of his assets are transferred to Trustees to hold and manage in line with pre-agreed terms contained in a Trust Deed or any other document. Here the assets would no longer be in the name or possession of the deceased person but rather with the Trustees and as such the property is given the required shield from meddlesome interlopers.

There is also inter vivos gift, where a person can transfer his assets to any desired beneficiary in his life time to avoid doubt or arguments in his absence.

Is Will writing and estate planning really a death wish? Why the morbidity around Will writing in this part of the world?

Writing a Will is definitely not a death wish but could rather be seen as an acknowledgement of the fact of the inevitable and making adequate preparation for it. In an ironic twist, a survey conducted in the United Kingdom, showed that people who wrote their Wills actually lived longer lives, so if you ask me, there is a very good reason to even write one – write a Will, live longer!

Estate planning is essentially a way to protecting wealth and eventually passing it on. However, there is a general lack of information regarding estate planning; many believe a Will is sufficient to address their estate planning needs.

Is a Will always sufficient to plan one’s estate?

A will on its own can be sufficient for estate planning. However, beyond the need for succession, there is also the imperative of it being a smooth succession and for same to be done in a timely manner devoid of chaos or friction.

A Trust, when properly constituted and assets

transferred into it, can be the smoothest form of estate planning due to the fact that the whole probate process may be avoided and a lot of time and cost would be saved. However, I must mention that a Trust on its own may not be sufficient as there are some classes of assets which cannot be moved to the Trust without a Will or Letter of Administration in the absence of a Will, an example of which is a Retirement Savings Account.

Will and estate planning are generally perceived as the transfer of property from one person to another. What other elements constitute estate?

Apart from transfer of assets, estate planning also covers issues like debts, guardianship of minors expression of wishes (which can either be positive or negative) funeral instructions, supporting a cause and so on.

From a legal point of view, how binding are Wills?

Legally, a Will that has been proven at the probate unchallenged or challenged and turned out successful is the highest and most binding document regarding the estate of a deceased person.

What exactly is the difference between next of kin and benefactor?

A next of Kin simply put is “a person’s closest or nearest blood/affinity relative”, an emergency contact person, while a benefactor or beneficiary is a person expressly intended to inherit your assets. However, it is important to note that some organisations have used both terms interchangeably thus we advise that you always seek clarification from an organisation whenever you are completing a next of kin form.

Will writing and estate planning involves preparation for transitions, including death. but culturally, it is almost a taboo in a society like Nigeria that is still steeped in its superstitious beliefs to make such plans when you are alive; it is seen as wishing bad for oneself. With this in mind, how can people be convinced to write wills or plan their estates?

Here I think information is the key. People have to be told of the need, advantage and importance of writing a Will as well as the corresponding consequences of not doing same. When people see the value that a Will offers and weigh it against the patent disadvantages, they should then be persuaded to do the needful. In this area, Stanbic IBTC Trustees Limited will continually educate the public and every audience of the need to do the responsible and prudent thing to put in place a Will or a suitable estate plan. Eventually,

Another challenge of Will writing or estate planning is that many consider it as elitist, expensive, and for elderly people. A survey showed that 50 per cent of estate planning clients are between 50 and 70 years of age.

One reason for this, experts believe, is the dearth of information on the industry. Is this a correct assessment?

The statistics is definitely a true reflection of the industry and yes, the reason for this is not far from my last response which is simply - “lack of information”. What everyone needs to know is the fact that while we have many other personal assets like cars, jewelry, clothing and furniture that can easily be inherited without much regulations, there are also assets class which cut across all classes of people and can be owned by the rich, the middle class or even the lower class. Examples are bank accounts, stock portfolios, retirement savings accounts and other forms of investments which cannot be transferred in an informal manner. All these need to be handled under a Will or Letters of Administration otherwise dependants of a deceased would not be able to access such asset.

What can be done to dispel these notions and get millennial, for instance, to buy into estate planning and Will writing?

Millennials need to understand the importance of the general class of assets - bank accounts, stock portfolios, retirement savings account and other forms of investments. Perhaps something that will interest millennials is that there is something called ‘Social Will’, where their social media accounts and other virtual footprints can outlive them and be willed to someone to manage long after they are gone! Interesting right? Have them contact us for more information!

The probate process, which a Will must pass through, is believed to be very cumbersome and costly. It is claimed that probate could deplete an estate by as much as 40 per cent.

Are these concerns addressed by Trust and Estate planning?

In Nigeria, at least in most states of the federation, the probate tax is 10 percent. However, regarding the process, it is simple - entails reading of the Will after due process, payment of estate fee, marking of the Will by witnesses and the signing of the final grant, especially where the Will is not in contest. It is usually the volume of transactions in the court as well as the diligence or otherwise of the executors and officers at the probate office that impacts more on making the process seamless or unwieldy. That is why it is important you choose your Executors properly, preferably of course, Stanbic IBTC Trustees!

Intergenerational wealth transfer is an important part of family and societal growth. But wealth transfer, when poorly done, often leads to inheritance-induced crises within and between families in communities in the country. In what ways will estate planning/will writing help to address this?

As much as possible, a Will or Trust that makes reasonable provision for all dependants of the deceased would seldom be challenged or lead to family crisis. The need to ensure the engagement of professionals to draft the estate planning document in a manner that avoids ambiguity with as much certainty as possible and also make reasonable provision to cater for all dependants in the most equitable manner can therefore not be over-emphasised.

Does Will writing and estate planning take into

consideration the cultural practices of Nigerians, which could impinge on enforceability. For instance, the Igbo or Bini inheritance culture is largely Patrilineal primogeniture (where the eldest son inherits), the Yoruba and Hausa practice partible (Ori-ojori) inheritance (division among all) and in polygamy it is by stripe (division by number of wives not children (idi-igi system), while some tribes (Ohafia, Abiriba) are matrilineal (female line of inheritance)?

As much as possible there are settled case laws which have upheld several traditions as well as declare others to be discriminatory or repugnant to the rule of natural justice and good conscience.

Thus as much as possible, when lawyers draft the Will or Trust Deeds, consideration is given to cultural, customary practice to the extent as is upheld under our laws. Otherwise, a person’s intention or decision under a will would legally supersede all customary practices.

Effective estate planning requires an expert knowledge of property, probate, inheritance laws, among other laws, and also involves several issues, particularly what tool(s) to deploy. Too often, these issues are never addressed until after the fact when complications arise. At that point, it is almost always too late. Can you speak to this and how one can navigate these labyrinthine?

With regards to this, the engagement of experts in such fields during the drafting process is most important as what ever can be envisaged would be addressed during the drafting stage of the Will to cater for as many foreseeable or unforeseeable circumstances as may arise in the estate administration.

Why are authentic Wills challenged and how can one ensure his/her Will is not open to litigation?

A Will can be challenged for a plethora of reasons, notwithstanding that the document was validly drafted and executed by the testator/ testatrix. What is most important here is to have a Will that isable to stand the validity test that could be thrown at it.

An important concern in estate planning and Will writing is the issue of integrity. There are cases where lawyers and others entrusted with such matters have colluded with a wife or sibling or relative to manipulate a written Will and other inheritance documents. How then do we ensure that safety is guaranteed and integrity is protected in estate planning?

The answer here is simple, it’s a case of conflict of interest, the conflict arises when the lawyer either gets greedy by trying to divert assets owned by his deceased client or when there is connivance with a favored member of the family.

This situation can be resolved by engaging the service of an independent and objective third party for example a corporate executor/trustee who will be professional all the way.

What documents are essential for estate planning?

Basically, an inventory of assets and the evidence of title as well as ownership of such assets.

What informed the decision of Stanbic IBTC Trustees Limited to reposition its Wills offerings and how did you arrive at the decision of Legacee?

The notion that the word Will connotes fear and typically engenders an immediate rejection was one of the reasons. The new name “Legacee” more aptly conveys what this action truly means and that is essentially, leaving behind something good to be remembered by after you are gone.

It is something to be embraced and or at least acknowledged, not something to be afraid of.

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T H I S D AY FRIDAY DECEMBER 8, 2017

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08.12.2017

Oando Supports the African Creative Arts Industry Peter Uzoho Over the last three decades, the Nigerian creative sector, specifically Tourism, Culture and Arts has not been considered a key contributor to the economy. The creative sector contributes generously to the foreign exchange earnings of many countries including South Africa, Kenya, Morocco, Tanzania and the UAE. Unfortunately in Nigeria, the sector contributes less than 1.5 per cent to Gross Domestic Product (GDP), the dismal rate of development of the sector has been attributed to the country’s over dependence on oil for its foreign exchange earnings, as well as lack of funding and government support.

The recession witnessed by oil dependent economies has awakened us all to the benefits and need for a diversified economy. Nigeria successfully exited the recession in September with a marginal 0.55 per cent growth in the second quarter of 2017, after recording negative growth for five consecutive quarters. Against this backdrop, the government is aggressively implementing initiatives in partnership with the private sector aimed at diversifying the economy, to ensure every sector starts contributing significantly to the country’s GDP.

The business delegation from Finland

In the private sector, Oando PLC, Nigeria’s leading indigenous oil and gas company, continues to set the pace for counterparts in the area of partnerships aimed at supporting the development of the economy. The company recently partnered with the African Artists’ Foundation (AAF) to promote African art as well as socio-economic diversification through the month long LagosPhoto Festival.

LagosPhoto Festival which held its grand opening at the company’s state-of-the-art head office, Oando Wings Office Complex on November 25, will run till December 15 across various indoor and outdoor locations. The grand opening included a well-curated selection of over 31 of the most talented African artists, including the New York Times portfolio review finalist, Elo Osunde and Kadara Enyeasi amongst others. The festival aims to engage the general public with multifaceted stories of Africa through exhibitions, workshops, artist presentations, discussions and large scale outdoor prints displayed throughout Lagos.

Oando continues to play a significant role in socio-economic development projects, proudly setting the pace for indigenous participation.

In 2011, the company set up its independent charity - Oando Foundation, with the aim of ensuring that children in public primary schools have access to quality education. Through the Foundation’s, work the company is actively supporting the Nigerian Government in realising its education development goals. Today, Oando Foundation has successfully reduced the number of out-of-school children, adopted and renovated over 80 public primary schools across 23 states in Nigeria and impacted the lives of over 200,000

students.

More recently, Oando joined its JV partners (NNPC and Nigeria Agip Oil Company, NAOC) to champion the Green Rivers Project (GRP)/ Farmers Day, a celebration aimed at promoting the importance of agriculture in spearheading the socio-economic development and economic diversification of the country, particularly in the Niger Delta. The initiative supports farmers in host communities to increase agricultural productivity and prevent further deterioration of the soil through the use of better farming techniques.

Calling on for more support of the creative arts, Alero Balougn, Head, Corporate Communications, Oando PLC said: For Nigeria to achieve its economic diversification objective, the principle of subsidiarity must apply. The private sector must acknowledge that the government cannot do it all and we owe it to the country we operate in to create a positive and lasting contribution. Therefore, I encourage the private sector to expend more efforts in supporting more initiatives like the LagosPhoto Festival as well as other neglected sectors of the economy to achieve a Nigeria we can all be proud of. As a company we believe Africa has a lot of untapped talent, we are inspired by the sector’s ability to thrive

FRSC Encourages Fleet Operators to Key into its Standardisation Scheme Solomon Elusoji The Federal Road Safety Corps has urged all fleet operators with at least five vehicles to be properly registered under its Road Transport Safety Standardisation Scheme (RTSSS).

Speaking at a stakeholder’s meeting held in Lagos recently, the FRSC Unit Commander RS2.18, Emma Fekoya, said this will provide proper regulation and “improve the safety of their operations.”

The RTSSS was officially launched on September 11, 2007 by the then President Olusegun Obasanjo and Fekoya said “it does not only give room for best service delivery but also enhances safety, fleet maintenance, longevity, sustainability of fleet

operations and fuller lives for all Nigerians. All are therefore enjoined to take advantage of the scheme which is aimed at improving the nation’s road transport sub-sector of the economy.”

Under the scheme, fleet operators are expected to maintain records of drivers, vehicles, routes plied and crashes (noting the cause) and submit same to the agency on quarterly basis; failure to do that can lead to a fine of N50,000 and the operator being suspended until the required documents are available.

Fleet operators are also expected to organise periodic training, seminars and courses (defensive driving, speed limit, use of road, traffic signs, compliance with registration) for their members and drivers; noncompliance can lead to a fine of

N200,000 and suspension of operations.

The scheme further compels fleet operators to allow FRSC certification teams into their premises for assessment or inspection and also requires that operators have an insurance policy, in addition to third part insurance which will cover victims of road traffic crash involving vehicles of the fleet operators.

“Stakeholders are advised to please avail FRSC team on a monthly basis the opportunity to come in and educate their staff on how to use the road as well as receive feedback from activities of the corps,” Fekoya said. “This in turn eliminates ignorance, attitudinal problems and conflicts experienced on the road.”

Toke Makinwa, Mai Atafo, Bovi, Show Excitement over The Future Awards Africa 2017 invites As people across the continent get set to celebrate the exceptional young talents who have led the charge in diverse spheres of endeavour, intended guests can’t seem to hide their excitements over The Future Awards Africa 2017 invites.

Designed to represent maps of states in Nigeria, guests are expected to guess the states represented with their invites.

Toke Makinwa, a Nigerian radio personality, television host, vlogger, and author known for her book, On Becoming, co-hosting The Morning Drive on Rhythm 93.7 FM and her YouTube vlog series Toke Moments, reacted on her instagram page this way: “Can’t wait for the 9th of December for #TheFutureAwardsAfrica2017 and just received the super cool invite which I got the answer.”

Mai Atafo, a Nigerian bespoke fashion tailor who caught the attention of the fashion industry for the creation of his brand, Mai Atafo and by enrolling the Leeds-based Savile Row Academy to further train as a tailor, reacted on his intagram page like this: “I am excited. I got my invitation and state right too. It's always cool to celebrate the new generation of Africans.”

Abovi Ugboma also known as Bovi is a Nigerian comedian, a director, producer, actor, and writer from Delta State, has organised popular stand-up

Makinwa

comedy concerts like Bovi Man on Fire across the globe. He reacted this way: “Super excited about #TheFutureAwardsAfrica2017 on the 9th of December and just received the super cool invite which I got the answer” .The 12th edition of the Awards is set for tomorrow, December 9, 2017 at the Federal Palace Hotel, Lagos.

The Future Awards Africa 2017 is powered

by The Future Project, with support from Ford Foundation and refreshed by 7Up. The Future Awards Africa has been called the ‘Nobel Prize for Young Africans’, and the ‘most important youth awards’ by Forbes. It is a set of prizes given annually to celebrate and accelerate innovation, creativity and enterprise amongst young Africans aged 18 – 31. It has produced over 150 winners and over 1550 nominees since its first edition in 2006.

It is presented in conjunction with The Future Project, which has a mandate to build empowered citizens across Africa, through (inclusive) enterprise and (active) citizenship. This focus on Human Capital Development is informed by our value proposition: Africa's growth needs a generation of young people who are gainfully employed and able to demand and secure better leadership.

Our projects include Aiki.ng, an employability portal presented with Microsoft; the Nigeria Symposium for Young & Emerging Leaders, #StartupsAfrica, Intern4Jobs, YMonitor.org presented with National Endowment for Democracy (NED), The Future Enterprise Support Scheme and The Future Awards Africa, described as 'The Nobel Prize for Young Africans'.

Omisore Bags Young Entrepreneur Award Solomon Elusoji Creative Thinker at online comic platform, Kolatoons, Mr. Kola Omisore has emerged as the Young Media Entrepreneur at the Lagos Young Entrepreneurs’ Award, for his creative use of words and images to stimulate the imagination of the new generation.

The award ceremony was held recently in Lagos.

Omisore, who is also a Creative Director at marketing communications company, Verdant Zeal Group, told THISDAY he was “shocked” when he heard he had been nominated for the award.

The Lagos Entrepreneur Awards was started in 2014 as an annual entrepreneurship programme in Ojokoro Local Council Development Area and has grown to become one of Lagos’s most respected award platform for young people.

“Awards like this don’t come everyday,” Omisore said.

A creative aficionado, Omisore owns a Diploma in Painting and General Art from Auchi Polytechnics and is a graduate of Graphic Art from the Yaba College of Technology.

He is an Associate Registered Practitioner of Advertising since 2006 and also a fellow of the Institute of Brand Management of Nigeria (FIBM).

Omisore (left) receiving his award

Tourists having a feel of the resort

Rotary DG Visits Rotary Club of Lagos Island Ugo Aliogo The District Governor of Rotary District 9110, Rtn. Dr. Wale Ogunbadejo, has visited the Rotary Club of Lagos Island as part of measures to laud the efforts of the club in supporting the community and promoting societal good.

Speaking recently during the visit, Ogunbadejo, commended the sterling virtues of the President of the club and its members for its drive at repositioning the fortunes of the district 9110, especially through empowerment initiatives, Rotary polio eradication exercises and other activities.

He stated that at RCLI, they are committed to making a positive difference in the community by achieving goals related to the Rotary’s three strategic priorities which he said are; to support and strengthen the club, focus and increase humanitarian services and projects, and enhance rotary public image and awareness.

Ogunbadedjo explained that in the area of memberships development they have retained 84 members and added 61 new members in the Rotary year as at November 1 which brought the total to 145 (male 92, and female 53) with eight honorary members increasing the number to 153.

“The emphasis is to bring new members from diverse classification and different nationalities.

For this, our motto is 3B- Bolder, Bigger and Better,” he noted.

The Rotary DG further stated that in line with efforts at promoting of the foundation, they plan to contribute at least $10,000 towards the growth of the foundation yearly, adding that 34 members pledged towards the project, and 29 have paid.

He added: “The most prestigious project of the club is the project Ishk with global grants of $182,500. The project is aimed at free distribution of artificial limbs in our community, which is a joint with the Rotary Club of Singapore and Tolaram foundation in which 1,700 artificial limbs will be provided for free. The project will be formally launched on December 3, when the Rotarian team from Singapore will arrive.

38/OPINION

08.12.2017

Songs of Praise Last week, Christian worshipers besieged Lagos for ‘365 Hallelujahs’, writes Peter Uzoho

Pastor Aromolaran

On November 23, Americans marked Thanksgiving, a ceremony which began in 1863 when President Abraham Lincoln urged his fellow citizens to express gratitude for a pivotal victory at Gettysburg that kept the American nation undivided.

Meanwhile in Nigeria, the last month of the year – December – is usually a time to express thanksgiving, as individuals, groups and even corporate organisations enter into the spirit of the yuletide season, expressing gratitude for the gifts of life.

For the religious, the gratitude graduates into the breathtaking realm as churches organise special worship sessions, carol concerts and praise marathons, honouring the God who has kept them alive and kicking this far.

This was why, on the night of December 1, the sight of a thousand-strong mass choir, comprising 546 adult choristers, 350 youths and kids as well as dozens of drummers and instrumentalists filing out on one gigantic stage and delivering sundry songs and cantatas, was not exactly surprising.

Resplendent in their yellow ankara uniforms, the choristers serenaded, with spirit-filled songs, the tens of thousands of congregants that flooded the expansive Ikorodu Town Hall on that fateful night with scintillating, yet entertaining songs in different languages.

The spectacle was awe-inspiring; the rendering, breathtaking.

The event was the annual ‘Convocation to Praise: A Night of 365 Hallelujahs’ hosted

by Joy Cometh Ministries, the one-year-old Ikorodu-based mission changing lives of youths and adults in that part of Lagos.

Founded by its Senior Pastor, Olaitan Aromolaran in November 2016, Joy Cometh Ministries is on Ebute-Igbogbo Road in Ikorodu. It hosts a number of weekly and annual programmes, including ‘Over to God,’ which is scheduled for January 20 to January 28 next year, and ‘Helping Hand,’ a deliverance programme every Thursday morning.

Last Friday, no fewer than 30, 000 people thronged the expansive grounds of Ikorodu Town Hall where the programme took place.

The participants came from all over the country.

Some flew in from Europe and North America.

Every single space on the premises was taken up by the excited participants. And when the 25, 000 chairs arranged were filled up, thousands elected to sit on the bare floor. Finding no more space inside, thousands of others sat on the fence or stood on the balconies of adjoining

A cross section of worshipers at the event

The woman who had five babies in two years giving her testimony

storey buildings. Many other late comers stood on nearby streets, watching proceedings from giant screens mounted around the area. All the roads leading to the town hall soon became impassable, and many guests had to walk to the venue after abandoning their vehicles at some relatively safe place.

‘Convocation to Praise’ started in 2012 while Aromolaran was a senior pastor and provincial evangelist at Redeemed Christian Church of God handling the popular Covenant of Peace Parish, Ikorodu. According to the Igbole-Ekiti-born preacher, it was a specific instruction from God to him to gather thousands of souls together annually at the Ikorodu Town Hall to shout hallelujah 365 times. He has continued the tradition after starting his own ministry last year. This year’s was the sixth edition.

The programme commenced at about 8.30 pm with a performance by the Joy Cometh Praise Team which treated the crowd to diverse gospel songs. For one hour, Apala, Fuji, Highlife, Juju and contemporary tunes with gospel flavour streamed forth seamlessly from the giant speakers mounted within and outside the premises. This was followed by opening prayers by the wife of the senior pastor, Pastor Yemi Aromolaran. A performance by some kids, all members of the Joy Cometh Junior Church, swiftly followed.

Shortly after, Pastor Olasunkanmi Oriola mounted the stage to give the first charge.

The preacher welcomed the congregants and explained the significance of Hallelujah in the life of every Christian. He urged the crowd to give their lives to Christ to get the maximum blessings from the Almighty.

After performances by the Joy Cometh Drama Team, song ministration by the Junior Church, a dance drama by the group, Footprints of David and songs by the mass choir, the first set of 73 shouts of Hallelujah reverberated in streets far from the venue, coordinated

by Pastor Akosile.

The following Bible reading was taken from the Book of Psalms, chapter 103. A praise extravaganza was performed by Sister Abioye, after which Pastor Agadagba led the second set of 73 Hallelujahs. There was also a special number by Sister Tina.

The testimony time at the programme would not be forgotten in a hurry by the participants. Several people testified to the miracles done by God in their lives after past editions of Convocation to Praise. A particular testimony held everyone spellbound. The woman narrated how she couldn’t conceive 20 years into her marriage. Two years ago, she attended the programme where she met Pastor Aromolaran and requested prayers to overcome her childless state. She said the pastor told her that God would surprise her. The following year, she attended the programme with a set of twins.

At the programme last year, she narrated

to the pastor how her prayers had been answered, but Aromolaran informed her that God was not done with her yet. Last Friday, she brought her new set of triplets to the altar, each baby carried by herself, her husband and a protocol officer in the ministry. In all, she got five babies in two years.

Another woman spoke of how she was told by medical experts in India that her baby born with a congenital heart disease was untreatable. She was told, in unequivocal terms, that the baby would soon die. The woman said she brought the baby back to Lagos where Pastor Aromolaran told her that God would surprise the Indian experts. Today, she said, the baby is more than two years old, and the hole in her heart has miraculously vanished.

The third set of hallelujahs was coordinated

by Apostle Bolaji Akinyemi, while Prophet Niyi Olowoporoku led the fourth set of 73 hallelujahs. An African Praise Offering and a rendition by the mass choir was done before Pastor Aromolaran mounted the stage to coordinate the final set of 73 Hallelujahs.

He first apologised to those sitting on the bare floor for their inability to get chairs. He then told the participants that by coming to shout Hallelujah and give praises to God, the key to the door of success for 2018 had been handed to them. He informed them, however, that such would not happen, and their attendance at the meeting would be a waste if they continued in their sins. He invited those wishing to surrender their lives to Christ to come out, and many were those that rushed to the front of the altar where they were prayed for and encouraged to attend Bible-believing churches.

‘Convocation to Praise,’ according to Pastor Aromolaran, was a specific instruction by God. The pastor recalled that many years ago when he was just a member of the Redeemed Church, the General Overseer of the church, Pastor E. A Adeboye was holding a programme at the Ikorodu Town Hall, and Aromolaran got a befitting rug for the GO to use on the podium. Aromolaran later took the rug home, and it became his prayer mat. He recalled that while he was praying one day, God told him that he, Aromolaran would soon start assembling thousands of people at that same venue to shout 365 hallelujahs each year. He started the programme in 2012, and since then, it has held annually on the first Friday in December at Ikorodu Town Hall.

T H I S D AY FRIDAY DECEMBER 8, 2017

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T H I S D AY FRIDAY DECEMBER 8, 2017

T H I S D AY FRIDAY DECEMBER 8, 2017

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T H I S D AY ˞ ˜ DECEMBER 8, 2017

BUSINESS/MONEYGUIDE

EmeďŹ ele: Financial Ombudsman Bill to Be Re-submitted to National Assembly Obinna Chima As part of efforts to ensure that the country meets its Financial System Strategy 2020 (FSS 2020), Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele yesterday said the bill for the establishment of financial consumer ombudsman would be re-submitted to the National Assembly. The bill, if passed into law, is expected to address the challenges of protection of consumers of financial services as well as protect the integrity of the financial system. Emefiele, also stressed the need for increased collaboration among government agencies and other institutions involved in the FSS 2020.

This, he said was necessary to move the country from about 50 per cent success in financial inclusion presently, to 80 per cent in the next three years.

Emefiele made these remarks in an address he delivered at the 10th anniversary strategic review meeting on the FSS 2020 held in Lagos. “FSS 2020 will be resubmitting

to the National Assembly a Bill for establishment of specific financial consumer ombudsman to address the challenges of protection of consumers of financial services as well as the protection of the integrity of the financial system,� he explained.

The FSS 2020 was conceptualised in 2006 by the CBN, in collaboration with other key financial sector regulators to fast-track and enhance the growth and development of Nigeria’s financial system as an integral part of the national vision 2020. The strategic vision of FSS2020 is “to be the safest and most diversified financial system among emerging markets supporting the real economy by the year 2020.�

The strategic themes are to strengthen and deepen the domestic markets; enhance integration with the external financial markets, and promote sustainable economic development. Continuing, Emefiele pointed out that Nigeria has made significant progress since 2007 in actively reforming its

financial system.

He noted that despite the global economic meltdown in 2008, the FSS 2020 Transformation Programs and initiatives provided the platform for fundamental changes in the country’s economic and financial landscape.

He explained: “Under financial market, Pension, MSME, Insurance and Mortgage sectors, FSS2020 has introduced some far-reaching initiatives which have helped to deepen the economy. “For example, our Payment System has tremendously improved. There is now a Central Bank of Nigeria Immediate Transfer Service (CBSITS) and an interbank platform for effecting payment transactions, Electronic Cheque Clearing (ECC) system allowing for a same day cheques-clearing process, Nigeria Electronic Funds Transfer (NEFT) as an alternative means for interbank funds transfer among others including the Real time gross settlement system.

EmeďŹ ele

MARKET INDICATORS

Accion MFB Disburses N79.8bn Loans to Customers Nume Ekeghe Accion Microfinance Bank has disbursed a total of N79.8 billion as loans to micro, small and medium scale enterprises (MSME) between 2007 and November 2017.

The bank which presently has its presence in some states across Nigeria has also said it plans to expand aggressively by opening 80 new branches nationwide.

The Chief Executive Officer/ Managing Director, Accion MFB Ms. Bunmi Lawson said this at the bank’s annual customers’ forum in Lagos yesterday.

She said: “From N217 million disbursed in 2007, we have disbursed a total of N17.5 billion from January to November 2017 to 53,238 customers. “From inception of the bank to date, we have disbursed a total of N79.7 billion. The number of accounts opened also grew from 2,531 in 2007 to 294,018 in November 2017. “We were also responsive to our customers in insurance

claim settlements for outstanding loans from various incidents during the year as their loans were cleared by our insurance partners while additional benefits are still credited to their accounts to enable them cushion the effect of the unfortunate incidents.�

On other initiatives the bank would introduce in the coming year, she said: “To serve you better in 2018, we have embarked on initiatives which includes NIBBS instant payment, (NIP).�

This, according to Lawson would also solve the problem of transfer to and from other banks going forward.

In terms of digital banking, she said microfinance was partnering other Fintech companies to enable customers request and pay for loans via their phones, with the use of social media algorithms. “Accion MFB Short Code (572) - We are in the process of launching Accion MFB Shortcode to replace Brighter 143. This is simply banking on the phone making you able to do banking transactions such as account

balances, funds transfers, bills payments, etc, right on your hand held phones and Beta Solar, loans to acquire uninterrupted solar power in your homes.�

On his part, the incoming MD/CEO, Accion MFB, Mr. Taiwo Joda said: “Our mandate in 2018 is to surpass your expectations in 2018 and beyond with a lot of packages. “These include opening of 80 more outlets (branches) in existing states and new ones, having footprint in the North and FCT and cover the whole federation by 2022. Introduce new products that would address specific needs of our customers, introduce digital Banking.�

He added: “We would continue to invest heavily in information technology infrastructure to ensure that all our service touch points are reliable; continue to implement loyalty rewards for our dear long-standing customers, show more concern to our customers in taking business decision in line with the smart campaign.�

Sterling Bank, Others Commence e-Ticketing in BRT Buses Sterling Bank Plc in collaboration with Primero, LAMATA and E-Purse Systems Limited have begun implementation of e-ticketing system for Bus Rapid Transport (BRT) in Lagos.

This, according to a statement from the lender, followed the recent launch of the scheme by the Lagos State Governor, Mr. Akinwunmi Ambode.

The e-ticketing system is an integral part of the Intelligent Transport System (ITS), which will help commuters to plan their journey and drastically reduce time spent waiting for buses at bus stops.

It also helps in recording important data in transport operations, which will assist in planning and regulating transport services in the state.

Speaking during a bus ride by senior executives of Sterling Bank and other stakeholders to demonstrate the workability

of the new payment system, Managing Director and Chief Executive Officer of Sterling Bank, Mr. Yemi Adeola, described it as an innovation that is first of its kind in Africa, adding that it is a classic example of what Public, Private Partnership (PPP) should be. He said the initiative would not only transform the transportation sector in Nigeria alone but in the whole of the African continent, remarking that the role of government is to create an enabling environment for people to go about their businesses and also ensures free movement of people among others. Adeola said the automation of the fare payment system would also move the transportation sector from the historical approach to a modern method of payment and also made it easy for people to commute not only in Lagos but in the whole country.

The bank chief said the new payment system would also transform the Gross Domestic Product (GDP) of the country.

Also speaking, Managing Director of Primero Transport Company, Mr. Fola Tinubu explained how the contactless card would work, adding that it would run alongside with the existing manual ticketing system before the end of the first quarter of 2018, when the manual payment system will be phased out.

Similarly, Mr. Olugbenga Adams, Head of Digital Banking described the Automated Fare Collection system as a unique and modern way for payments of fares on Urban Mass Transit.

The system is similar to what exists in developed countries.

He explained that the system is multi-modal and will ultimately work on other transport modes beyond the buses.

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 Inter-Bank Call Rate

August 2017 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 WEDNESDAY DECEMBER 6, 2017

The price of OPEC basket of fourteen crudes stood at $60.73 a barrel on Wednesday, compared with $60.87 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

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T H I S D AY Ëž Ëœ ÍśËœ Í°ÍŽÍŻÍľ

MARKET NEWS

NSE All-Share Index Gains 1.2% as Equities Market Extends Bullish Run Goddy Egene and Nosa Alekhuogie The Nigerian equities market extended its bullish run for the fourth consecutive day this week as investors’ positive sentiments continued. As a result, the Nigerian Stock Exchange (NSE) All-Share Index (NSE ASI) appreciated by 1.17 per cent to close higher at 39,534.14.

Similarly, market capitalisation

added N159.8 billion to close at N13.77 trillion. The positive performance yesterday could be linked to gains recorded by Nigerian Breweries Plc, Nestle Nigeria Plc, Zenith Bank Plc, Ecobank Transnational Incorporated and FBN Holdings Plc. However, Union Bank of Nigeria Plc led the price gainers with 10.1 per cent trailed BY Fidelity Bank Plc with 7.5 per cent, while NAHCO Plc chalked up 7.2 per

cent. Okomu Oil Palm Plc and FBN Holdings Plc garnered 7.1 per cent and 6.1 per cent respectively.

Conversely, Total Nigeria Plc led the price losers with 5.0 per cent, trailed by AXA Mansard Insurance Plc with 4.6 per cent.

NEM Insurance Plc shed 4.6 per cent, while Livestock Feeds Plc closed 4.1 per cent lower.

According to analysts at FSDH Research, the bullish momentum

was sustained and largely driven by high demand for banking, consumer goods and insurance stocks “There was profit taking on a number of stocks as expected, leaving of Dangote Flour, Transcorp, Diamond, FCMB and Stanbic IBTC closing on offer.

Bargain hunting continued and was sustained in FBNH, Zenith, Fidelity Bank, ETI and Okomu and leaving Sterling Bank, UBN, Aiico and Continental

Insurance and they all closed on bid,� they said. The analysts noted that although profit taking is expected to continue in the coming sessions, the market will remain positive and active as we approach year-end.

A further analysis of the trading activities shows that three sectors closed in the negative while two appreciated. The two gainers were the NSE Consumer Goods Index and

PRICES FOR SECURITIES TRADED AS OF 04/12/2017

the NSE Banking Index that appreciated by 2.7 per cent and 1.8 per cent respectively as a result of sustained buying interest in Nigerian Breweries Plc (+2.2%), Nestle (+6.0 per cent) Zenith Bank (+5.6 per cent) and Access Bank (+3.3 per cent).

On the other hand, the NSE Industrial Goods Index shed 0.8 per cent following profit taking in Dangote Cement (-0.4 per cent).

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˜ Ͷ˜ Ͱͮͯ͵ ˾ T H I S D AY

Nigeria Daily Stock Market Report:

THISDAY AFRINVEST 40 INDEX

ƵůůŝƐŚ ZƵŶ ĞdžƚĞŶĚƐ ƚŽ ^ĞǀĞŶƚŚ ŽŶƐĞĐƵƟǀĞ dƌĂĚŝŶŐ ^ĞƐƐŝŽŶ͙ E^ ^/ ƵƉ ϭ͘Ϯй dŚĞ ďƵůůŝƐŚ ƌƵŶ ŝŶ ƚŚĞ EŝŐĞƌŝĂŶ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĞdžƚĞŶĚĞĚ ŝŶƚŽ ƚŚĞ ƐĞǀĞŶƚŚ ĐŽŶƐĞĐƵƟǀĞ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ƌŽƐĞ ďLJ ϭ͘Ϯй ƚŽ ƐĞƩůĞ Ăƚ ϯϵ͕ϱϯϰ͘ϭϰ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϰϳ͘ϭй͘ ĐĐŽƌĚŝŶŐůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĂĚĚĞĚ Eϭϱϵ͘ϴďŶ ƚŽ ĐůŽƐĞ Ăƚ Eϭϯ͘ϴƚŶ͘ dŚĞ ĚĂLJ͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ĐĂŶ ďĞ ŵĂũŽƌůLJ ĂƩƌŝďƵƚĞĚ ƚŽ ƐƵƐƚĂŝŶĞĚ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ E/' Z/ E Z t Z/ ^ ;нϮ͘ϮйͿ͕ E ^d> ;нϲ͘ϬйͿ ĂŶĚ E/d, ;нϱ͘ϲйͿ͘ >ŝŬĞǁŝƐĞ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŐƌĞǁ ϱϬ͘ϲй ĂŶĚ ϯϵ͘Ϯй ƚŽ ϭ͘ϭďŶ ƵŶŝƚƐ ĂŶĚ EϭϬ͘ϮďŶ ƌĞƐƉĞĐƟǀĞůLJ͘

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ĂůďĞŝƚ ƐŬĞǁĞĚ ƚŽǁĂƌĚƐ ƚŚĞ ŶĞŐĂƟǀĞ ƌĞŐŝŽŶͲ ϯ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ ǁŚŝůĞ Ϯ ĂƉƉƌĞĐŝĂƚĞĚ͘ dŚĞ Ϯ ŐĂŝŶĞƌƐ ǁĞƌĞ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ͕ ƵƉ Ϯ͘ϳй ĂŶĚ ϭ͘ϴй ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƐƵƐƚĂŝŶĞĚ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ E/' Z/ E Z t Z/ ^ ;нϮ͘ϮйͿ͕ E ^d> ;нϲ͘ϬйͿ E/d, ;нϱ͘ϲйͿ ĂŶĚ ^^ ;нϯ͘ϯйͿ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ƐŚĞĚ Ϭ͘ϴй ĚƵĞ ƚŽ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ E' D ;ͲϬ͘ϰйͿ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ Ϭ͘ϱй ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ D E^ Z ;Ͳϰ͘ϳйͿ ĂŶĚ E D ;Ͳϰ͘ϲйͿ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ůŽƐƚ Ϭ͘ϰй ĚƵĞ ƚŽ ƐĞůůŽīƐ ŝŶ dKd > ;Ͳϱ͘ϬйͿ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ĚĞĐůŝŶĞĚ ƚŽ ϭ͘ϲdž ;ĨƌŽŵ ϯ͘Ϯdž Ăƚ ƉƌĞǀŝŽƵƐ ĐůŽƐĞͿ ĚƵĞ ƚŽ Ϯϴ ĂĚǀĂŶĐĞƌƐ ĂŐĂŝŶƐƚ ϭϳ ĚĞĐůŝŶĞƌƐ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ h E ;нϭϬ͘ϭйͿ͕ &/ >/dz ;нϳ͘ϲйͿ ĂŶĚ E , K ;нϳ͘ϯйͿ ǁŚŝůĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ ǁĞƌĞ dKd > ;Ͳϱ͘ϬйͿ͕ D E^ Z ;Ͳϰ͘ϳйͿ ĂŶĚ E D ;Ͳϰ͘ϲйͿ͘ dŚĞ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ƌĞĐŽƌĚĞĚ ƚŽĚĂLJ ǁĂƐ ďƌŽĂĚůLJ ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ ůĂƌŐĞ ĐĂƉ ƐƚŽĐŬƐ͕ ǁŝƚŚ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ǁĞĂŬĞŶŝŶŐ ĨƌŽŵ ƚŚĞ ƉƌĞǀŝŽƵƐ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶͲ ĂůďĞŝƚ ƐƟůů ƉŽƐŝƟǀĞ͘ ǀĞŶ ĂƐ ǁĞ ĞdžƉĞĐƚ ƚŽ ƐĞĞ ŝŶĐƌĞĂƐĞĚ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ ƐŽŵĞ ĐŽƵŶƚĞƌƐ ŝŶ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ĂŚĞĂĚ͕ ƚŚĞ ƉŽƐŝƟǀĞ ŵŽŵĞŶƚƵŵ ŝŶ ƚŚĞ ŽƵƌƐĞ ǁŝůů ůŝŬĞůLJ ďĞ ƐƵƐƚĂŝŶĞĚ͘

ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ ,ŽŶĞLJǁĞůů &ůŽƵƌ DŝůůƐ WůĐ ;͞,ŽŶĞLJǁĞůů͟ Žƌ ͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ ,ŽŶĞLJǁĞůů &ůŽƵƌ DŝůůƐ WůĐ ;͞,ŽŶĞLJǁĞůů͟ Žƌ ͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ ŝƐ Ă ŇŽƵƌ ŵŝůůŝŶŐ ĐŽŵƉĂŶLJ ŝŶ EŝŐĞƌŝĂ ĂŶĚ ǁĂƐ ŝŶŝƟĂůůLJ ƌĞŐŝƐƚĞƌĞĚ ĂƐ 'ĂƚĞǁĂLJ ,ŽŶĞLJǁĞůů &ůŽƵƌ DŝůůƐ >ŝŵŝƚĞĚ ŝŶ ϭϵϴϱ͘ ,ŽǁĞǀĞƌ͕ ŝŶ :ƵŶĞ ϭϵϵϱ͕ Ă ĐŚĂŶŐĞ ŝŶ ƚŚĞ ĐŽŵƉĂŶLJ͛Ɛ ŽǁŶĞƌƐŚŝƉ ƐƚƌƵĐƚƵƌĞ ůĞĚ ƚŽ Ă ĐŚĂŶŐĞ ŽĨ ŶĂŵĞ ƚŽ ,ŽŶĞLJǁĞůů &ůŽƵƌ DŝůůƐ >ŝŵŝƚĞĚ ;,&D>Ϳ͘ KǀĞƌ ƚŚĞ LJĞĂƌƐ͕ ƚŚĞ ĐŽŵƉĂŶLJ ŚĂƐ ĐŽŶƟŶƵĞĚ ƚŽ ƐƚƌĞŶŐƚŚĞŶ ŝƚƐ ŝŶĚƵƐƚƌLJ ŝŶŇƵĞŶĐĞ ŝŶ ƚŚĞ ŵŝůůŝŶŐ͕ ƉƌŽĐĞƐƐŝŶŐ Θ ƉĂĐŬĂŐŝŶŐ ŽĨ ŇŽƵƌ ĂŶĚ ŽƚŚĞƌ ǁŚĞĂƚ ďĂƐĞĚ ƉƌŽĚƵĐƚƐ͘ ŌĞƌ ŝƚƐ /ŶŝƟĂů WƵďůŝĐ KīĞƌŝŶŐ ;/WKͿ ŝŶ ϮϬϬϴ͕ ƚŚĞ ĐŽŵƉĂŶLJ ďĞĐĂŵĞ Ă ƉƵďůŝĐ ůŝĂďŝůŝƚLJ ĐŽŵƉĂŶLJ ĂŶĚ ǁĂƐ ůŝƐƚĞĚ ŽŶ ƚŚĞ EŝŐĞƌŝĂŶ ^ƚŽĐŬ džĐŚĂŶŐĞ ;E^ Ϳ ŝŶ ϮϬϬϵ͘ ,ŽŶĞLJǁĞůů &ůŽƵƌ DŝůůƐ WůĐ ŝƐ ƉĂƌƚ ŽĨ ƚŚĞ ,ŽŶĞLJǁĞůů 'ƌŽƵƉ͕ Ă ĨŽƌĞŵŽƐƚ ŝŶĚŝŐĞŶŽƵƐ EŝŐĞƌŝĂŶ ĐŽŶŐůŽŵĞƌĂƚĞ ĞŶŐĂŐĞĚ ŝŶ ƐĞůĞĐƚ ďƵƐŝŶĞƐƐĞƐ ŝŶ ŬĞLJ ƐĞĐƚŽƌƐ ŽĨ ƚŚĞ EŝŐĞƌŝĂŶ ĞĐŽŶŽŵLJ͕ ŶĂŵĞůLJ &ŽŽĚƐ Θ ŐƌŽͲ ůůŝĞĚ͕ ŶĞƌŐLJ͕ ZĞĂů ƐƚĂƚĞ͕ ^ĞƌǀŝĐĞƐ͕ ĂŶĚ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ͘ /Ŷ ŝƚƐ ,ϭ͗ϮϬϭϴ ĞĂƌŶŝŶŐƐ ƌĞƐƵůƚ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ƉŽƐŝƟǀĞ ǁŝƚŚ ƚŚĞ ĐŽŵƉĂŶLJ͛Ɛ ŐƌŽƐƐ ƌĞǀĞŶƵĞ ƌŝƐŝŶŐ ϲϬ͘Ϭй zͲŽͲz ƚŽ Eϯϵ͘ϭďŶ ;ĨƌŽŵ EϮϰ͘ϰďŶ ŝŶ ,ϭ͗ϮϬϭϳͿ ǁŚŝůĞ ĐŽƐƚ ŽĨ ƐĂůĞƐ ĐůŝŵďĞĚ ϲϳ͘ϬйzͲŽͲ z ƚŽ EϮϵ͘ϵďŶ ĨƌŽŵ Eϭϳ͘ϵďŶ ŝŶ ,ϭ͗ϮϬϭϳ͘ ,ĞŶĐĞ͕ ƚŚĞ ĐŽŵƉĂŶLJ͛Ɛ ŐƌŽƐƐ ƉƌŽĮƚ ĨŽƌ ƚŚĞ ƉĞƌŝŽĚ ƌŽƐĞ ϰϬ͘Ϭй zͲŽͲz ƚŽ Eϵ͘ϭďŶ ;ƵƉ ĨƌŽŵ Eϲ͘ϱďŶ ŝŶ ,ϭ͗ϮϬϭϳͿ͘ ,ŽŶĞLJǁĞůů͛Ɛ ŽƉĞƌĂƟŶŐ ĞdžƉĞŶƐĞƐ ĨŽƌ ƚŚĞ ƉĞƌŝŽĚ ŐƌĞǁ ϭϭ͘ϴй zͲŽͲz ƚŽ Eϱ͘ϮďŶ ǁŚŝůĞ EĞƚ ĮŶĂŶĐĞ ĞdžƉĞŶƐĞ ŵŽĚĞƌĂƚĞĚ ϯ͘ϳй zͲŽͲz ƚŽ EϮ͘ϲďŶ ĨƌŽŵ EϮ͘ϳďŶ ŝŶ ,ϭ͗ϮϬϭϳ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ W d ĂŶĚ W d ƐƉŝŬĞĚ ϰϳϰ͘ϯй ĂŶĚ ϰϲϵ͘Ϯй zͲŽͲz ƚŽ EϮ͘ϳďŶ ĂŶĚ EϮ͘ϮďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ &Žƌ YϮ ƐƚĂŶĚĂůŽŶĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŝŵƉƌĞƐƐŝǀĞ ĂƐ 'ƌŽƐƐ ƌĞǀĞŶƵĞ ŐƌĞǁ ϭϰ͘Ϯй YͲŽͲY ƚŽ EϮϬ͘ϵďŶ ĨƌŽŵ Eϭϴ͘ϯďŶ ŝŶ Yϭ͗ϮϬϭϳ ǁŚŝůĞ ĐŽƐƚ ŽĨ ƐĂůĞƐ ĂůƐŽ ŝŶĐŚĞĚ ϳ͘ϴй ŚŝŐŚĞƌ YͲŽͲY ƚŽ Eϭϱ͘ϲďŶ͘ ,ĞŶĐĞ͕ 'ƌŽƐƐ ƉƌŽĮƚ ĨŽƌ ƚŚĞ ƉĞƌŝŽĚ ƌŽƐĞ ϯϴ͘ϭй YͲŽͲY ƚŽ Eϱ͘ϯďŶ͘ KƉĞƌĂƟŶŐ ĞdžƉĞŶƐĞƐ ŐƌĞǁ ϭϲ͘Ϭй YͲŽͲY ƚŽ EϮ͘ϭďŶ ǁŚŝůĞ ŶĞƚ ĮŶĂŶĐĞ ĞdžƉĞŶƐĞ ŵŽĚĞƌĂƚĞĚ Ϯ͘ϳй YͲŽͲY͘ ŽŶƐĞƋƵĞŶƚůLJ͕ W d ĂŶĚ W d ƐƵƌŐĞĚ ϭϰϰ͘ϯй YͲŽͲY ĂƉŝĞĐĞ ƚŽ ƐĞƩůĞ Ăƚ EϮ͘ϬďŶ ĂŶĚ Eϭ͘ϲďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ &ŽůůŽǁŝŶŐ ƚŚĞ ĐŽŵƉĂŶLJ͛Ɛ ŝŵƉƌĞƐƐŝǀĞ ,ϭ ƌĞƐƵůƚƐ ĐŽƵƉůĞĚ ǁŝƚŚ ŝƚƐ ĐŽŶƟŶƵĞĚ ĚƌŝǀĞ ƚŽ ŝŶĐƌĞĂƐĞ ŵĂƌŬĞƚ ƐŚĂƌĞ ƚŚƌŽƵŐŚ ďƌĂŶĚ ŝŵƉƌŽǀĞŵĞŶƚ ĂŶĚ ƐƚƌĂƚĞŐŝĐ ƉƌŽĚƵĐƚ ĚĞǀĞůŽƉŵĞŶƚ͕ ǁĞ ĞdžƉĞĐƚ ƐƵƐƚĂŝŶĞĚ ƉƌŽĮƚĂďŝůŝƚLJ ŝŶ ƚŚĞ ŶĞĂƌͲƚĞƌŵ͘

Afrinvest Securities Limited (RC 603 315) (A Dealing Member of the Nigerian Stock Exchange)

Friday, December 8, 2017

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

Previous Current Price Weighting Change

Price Change YTD

Price Change Index to Date

THISDAY AFRINVEST 40

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

20.1%

6.3%

6.7x

0.8x

4.2%

11.7%

1

Guaranty Trust Bank PLC

42.01

-2.4%

23.0%

70.6%

70.6%

26.0%

4.3%

8.9x

2.2x

4.8%

11.3%

2

Nigerian Brew eries PLC

143.50

2.2%

9.4%

-5.8%

-5.8%

18.9%

8.6%

32.9x

6.0x

2.7%

3.0%

3

Zenith Bank PLC

27.50

5.6%

13.0%

82.6%

82.6%

21.7%

3.2%

4.9x

1.0x

8.1%

20.4%

4

Dangote Cement PLC

5.9%

250.00

-0.4%

6.8%

-9.8%

-9.8%

30.4%

15.7%

17.0x

4.9x

3.5%

6.0%

7.1%

78.9%

78.9%

78.4%

19.0%

34.7x

22.9x

1.9%

2.9%

4.4%

-1.6%

-1.6%

15.1%

2.0%

4.0x

0.6x

6.5%

24.9%

5

Nestle Nigeria PLC

1,410.08

6

Access Bank PLC

10.98

3.3%

7

United Bank for Africa PLC

10.92

1.2%

5.5%

79.9%

79.9%

17.2%

2.2%

4.3x

0.7x

7.6%

23.2%

8

FBN Holdings Plc

9.01

6.1%

4.7%

6.5%

6.5%

2.6%

0.3%

11.9x

0.4x

2.7%

8.4%

3.7%

0.6x

3.7%

-20.9%

7.5x

2.0%

9

Ecobank Transnational Inc

18.39

2.8%

81.5%

81.5%

-14.6%

-1.3%

10

Lafarge Africa PLC

49.00

-1.6%

1.9%

-11.4%

-11.4%

47.1%

9.8%

11

SEPLAT Petroleum Development C

501.31

0.7%

1.8%

73.5%

73.5%

-12.4%

-6.7%

12

Unilever Nigeria PLC

43.79

-1.4%

1.6%

-7.8%

-7.8%

50.3%

8.4%

25.7x

9.8x

0.2%

3.9%

13

Stanbic IBTC Holdings PLC

42.50

1.2%

3.0%

74.1%

74.1%

28.7%

3.4%

9.8x

2.6x

1.4%

10.2%

14

Guinness Nigeria PLC

92.70

0.0%

1.2%

-9.8%

-9.8%

4.5%

1.4%

65.2x

3.2x

0.7%

5.99

0.0%

1.3%

72.9%

72.9%

40.7%

4.2%

2.7x

0.6x

43.23

0.0%

4.5x

0.6x

22.5% -20.9%

1.5%

15

Oando PLC

37.0%

16

Forte Oil PLC

0.5%

-9.8%

-9.8%

44.3%

3.7%

11.4x

5.0x

17

11 PLC

152.21

0.0%

0.4%

72.9%

72.9%

32.6%

12.0%

8.1x

2.2x

5.3%

12.4%

18

Total Nigeria PLC

228.01

-5.0%

0.6%

-14.8%

-14.8%

37.3%

7.4%

8.9x

3.1x

2.5%

11.2%

7.1%

11.1%

8.8%

19

Okomu Oil Palm PLC

75.00

1.1%

84.2%

84.2%

37.4%

25.9%

9.0x

2.9x

2.2%

20

UAC of Nigeria PLC

17.94

4.9%

0.6%

-4.3%

-4.3%

6.3%

2.2%

10.9x

0.7x

5.8%

9.2%

21

Conoil PLC

28.00

0.0%

0.4%

72.9%

72.9%

12.8%

3.5%

8.1x

1.1x

11.5%

12.3%

22

Fidelity Bank PLC

2.42

7.6%

1.1%

2.4%

2.4%

8.0%

1.1%

1.8x

0.3x

6.8%

55.6%

23

Dangote Sugar Refinery PLC

20.50

2.9%

1.3%

82.3%

82.3%

23.8%

10.3%

7.1x

3.1x

2.7%

14.1%

24

Flour Mills of Nigeria PLC

34.70

0.0%

0.8%

-5.0%

-5.0%

10.4%

2.6%

8.5x

0.8x

3.0%

11.8%

3.75

0.0%

0.4%

72.9%

72.9%

18.9%

7.6%

3.9x

0.7x

7.5%

0.0%

0.3%

-9.8%

-9.8%

-56.7%

-13.9%

25

Custodian and Allied Insurance

26

7 UP Bottling Co PLC

97.12 27.00

0.0%

0.3%

69.3%

69.3%

-12.2%

-1.2%

1.32

0.0%

0.4%

-0.7%

-0.7%

3.8%

0.6%

4.7x

25.5% -17.3%

1.5x

-8.1%

27

Julius Berger Nigeria PLC

28

FCMB Group Plc

29

Transnational Corp of Nigeria

1.51

0.0%

0.5%

82.3%

82.3%

19.6%

4.1%

5.3x

0.9x

19.0%

30

Diamond Bank PLC

1.52

-0.7%

0.5%

-1.2%

-1.2%

2.5%

0.3%

5.5x

0.1x

18.1%

31

Presco PLC

66.00

0.0%

0.5%

72.9%

72.9%

42.9%

25.9%

3.3x

1.1x

2.3%

30.7%

32

PZ Cussons Nigeria PLC

22.85

3.8%

0.4%

-9.9%

-9.9%

11.5%

5.8%

18.7x

2.1x

2.3%

5.4%

33

International Brew eries PLC

59.76

0.0%

0.9%

72.9%

72.9%

24.6%

7.4%

62.8x

14.3x

34

Cadbury Nigeria PLC

15.15

-1.7%

0.4%

-10.8%

-10.8%

4.5%

1.6%

40.6x

2.4x

2.5%

35

Union Bank of Nigeria PLC

7.19

10.1%

0.3%

88.0%

88.0%

5.6%

1.2%

8.0x

0.4x

12.6%

36

Chemical and Allied Products

33.93

0.0%

0.2%

-9.8%

-9.8%

84.3%

38.5%

14.8x

10.4x

37

Sterling Bank PLC

1.12

4.7%

0.2%

82.4%

82.4%

6.1%

0.6%

5.3x

0.3x

38

GlaxoSmithKline Consumer Niger

22.74

5.0%

0.3%

-9.8%

-9.8%

61.2%

23.6%

4.7x

1.7x

1.3%

-4.7%

0.1%

68.2%

68.2%

11.9%

3.9%

10.8x

1.3x

2.3%

4.5%

0.1%

-5.3%

-5.3%

9.6%

4.4%

8.2x

0.8x

39

AXA Mansard Insurance PLC

2.05

40

Continental Reinsurance PLC

1.39

T o p 10 G a ine r s T ic k er

3.3x

0.1x

8.8%

30.5%

1.6%

6.5%

6.7% 19.0% 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 %

T ic k er

Vo lum e

P ric e C hg %

UB N

7.19

10.1%

FCM B

154.3

0.0%

F ID ELIT YB K

2.42

7.6%

FB NH

127.9

6.1%

NA HCO

4.72

7.3%

UB A

124.7

1.2%

75.00

7.1%

Z EN IT H B A N K

112.7

5.6%

OKOM UOIL FB NH N EST LE Z EN IT H B A N K LA WUN ION

9.01

6.1%

F ID ELIT YB K

94.1

7.6%

1410.08

6.0%

T R A N SC OR P

48.1

0.0%

27.50

5.6%

ST ER LN B A N K

46.9

4.7%

0.77

5.5%

D IA M ON D B N K

45.5

-0.7%

GLA XOSM IT H

22.74

5.0%

A C C ESS

37.4

3.3%

UA C N

17.94

4.9%

SKYEB A N K

36.3

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

P ric e

Value

P ric e C hg %

T OT A L

228.01

-5.0%

Z EN IT H B A N K

3076.5

5.6%

2.05

-4.7%

UB A

1373.7

1.2%

1161.1

-2.4%

M A N SA R D

P ric e C hg %

T ic k er

N EM

1.45

-4.6%

GUA R A N T Y

LIVEST OC K

0.84

-4.5%

FB NH

1145.9

6.1%

A F R IP R UD

3.98

-4.1%

D A N GSUGA R

525.2

2.9% 3.3%

C H A M P ION

2.09

-3.7%

A C C ESS

408.9

UA C -P R OP

2.67

-2.9%

NB

337.5

2.2%

GUA R A N T Y

42.01

-2.4%

UA C N

330.2

4.9%

UN IT YB N K

0.51

-1.9%

UN ILEVER

243.1

-1.4%

C A D B UR Y

15.15

-1.7%

F ID ELIT YB K

228.7

7.6%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

45

˾ FRIDAY, DECEMBER 8, 2017

MARKET NEWS

Regulators, Experts to Brainstom on How to Deepen Capital Market for Economic Growth Goddy Egene As part of efforts to make the capital market contribute more to the growth of the nation’s economy, experts, regulators and other stakeholders will gather tomorrow in Lagos to discuss ways the market can been deepened to perform that role.

They will gather at the annual workshop of Capital Market Correspondents Association of Nigeria (CAMCAN) that is organised every year as part of the

association’s efforts to contribute to the development of the market and economy.

The theme of the programme is: “Deepening the Nation’s Capital Market for Economic Growth.” A highly experienced investment banker and President of Association of Issuing Houses of Nigeria and Founder/Managing Director, Dunn Loren Merrifield Group, Mr. Sonie Ayere is the guest speaker.

The Managing Director/ CEO FMDQ OTC Securities Exchange, Mr. Bola Onadele.

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

Koko will bring the perspective of how the potential in the debt capital market can be unlocked to grow the economy at the workshop.

Similarly, the Managing Director/Chief Executive Officer of Central Securities Clearing System Plc (CSCS), Mr. Haruna Jalo-Waziri will, among other things, highlight how the clearing house infrastructure can further enhanced capital formation for the economy growth.

The workshop will be declared open by the acting Director

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 6-Dec-2017, unless otherwise stated.

General of the Securities and Exchange Commission (SEC), Dr. Abdul Zubair, who will be special guest of honour, while Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar Onyema, will the guest of honour, will give more details on how the exchange is postioning itself as the Africa’s investment window.

Other dignitaries expected at the forum are: Chairman of Association of Stockbroking Houses of Nigeria (ASHON), Chief Patrick Ezeagu and President of Chartered Institutes

of Stockbroker (CIS), Mr. Oluwaseyi.

The worksho is being supported by SEC, NSE, FMDQ OTC, Med-View Airline, CSCS, Union Bank of Nigeria Plc, Zenith Bank Plc, United Bank for Africa Plc, Dangote Group, Nigerian Breweries Plc, FCMB Group and Ecobank.

Ayere as the guest speaker is expected to bring his over 20 years of professional experience in corporate finance and structured finance, corporate banking and asset management to bear.

Before founding Dunn Loren Merrifield in 2009, he had worked at the International Finance Corporation (IFC, a subsidiary of the World Bank) and whilst there, worked on the development of the Nigerian bond market. He also worked with HSBC Bank, NatWest Bank, The Sumitomo Mitsui Bank, BMO-Nesbitt Burns (the investment banking arm of the Bank of Montreal) where he was part of the senior team responsible for setting up a US$20 billion Fixed Income Structured Investment Vehicle.

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 184.76 186.12 45.73% Nigeria International Debt Fund 234.93 236.42 11.23% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.82 0.83 17.62% ACAP Income Funds 0.64 0.64 81.44% 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 18.09% 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 19.08 19.65 54.53% ARM Discovery Fund 393.78 405.65 37.12% ARM Ethical Fund 27.28 28.10 22.11% ARM Money Market Fund 1.00 1.00 17.73% 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 153.08 154.16 45.54% AXA Mansard Money Market Fund 1.00 1.00 18.24% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 18.68% Paramount Equity Fund 12.07 12.38 28.96% Women's Investment Fund 98.08 100.60 15.94% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 0.00% CORONATION ASSEST MANAGEMENT investment@coronation.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 18.12% Coronation Balanced Fund 1.08 1.10 9.08% Coronation Fixed Income Fund 1.02 1.05 3.78% FBN QUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,128.16 1,129.33 11.24% FBN Heritage Fund 151.44 152.77 35.86% FBN Money Market Fund 100.00 100.00 19.60% FBN Nigeria Eurobond (USD) Fund - Institutional 102.12 113.02 4.17% FBN Nigeria Eurobond (USD) Fund - Retail 111.51 112.41 9.11% FBN Nigeria Smart Beta Equity Fund 170.59 173.10 51.53% 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 1.41 1.44 51.60% Legacy Short Maturity (NGN) Fund 2.96 2.96 15.28% 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 2,969.78 3,007.71 34.98% Coral Income Fund 2,441.23 2,441.23 17.12% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 17.51% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 17.35% Vantage Balanced Fund 2.10 2.13 25.02%

Vantage Guaranteed Income Fund 1.00 1.00 18.58% Kedari Investment Fund (KIF) 114.09 114.09 17.58% 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 1.19 1.21 20.24% Lotus Halal Fixed Income Fund 1,048.56 1,048.56 11.23% 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 14.03 14.16 45.23% 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 1.23 1.25 23.75% PACAM Fixed Income Fund 10.96 11.02 5.42% PACAM Money Market Fund 10.00 10.00 13.97% 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 2,242.39 2,256.03 22.48% Stanbic IBTC Bond Fund 175.68 175.68 14.11% Stanbic IBTC Ethical Fund 1.01 1.02 31.82% Stanbic IBTC Guaranteed Investment Fund 217.96 217.96 16.62% Stanbic IBTC Iman Fund 179.01 181.36 37.89% Stanbic IBTC Money Market Fund 100.00 100.00 17.80% Stanbic IBTC Nigerian Equity Fund 9,701.10 9,815.99 27.94% 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 1.00 1.00 17.40% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.77 12.95 30.78% Zenith Ethical Fund 13.47 13.62 22.52% Zenith Income Fund 18.93 18.93 14.42%

REITS NAV Per Share

Yield / T-Rtn

11.41 131.99

1.01% 6.47%

Bid Price

Offer Price

Yield / T-Rtn

11.75 144.51 111.58

11.85 147.65 113.69

35.90% 46.08% 47.25%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.72 9.34 17.71 21.35 143.96

4.76 9.42 17.81 21.55 145.96

70.36% 32.67% 49.47% 33.64% 13.43%

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.

46

FRIDAY, DECEMBER 8, 2017 ˾ T H I S D AY

INTE RNATIONAL

email:foreigndesk@thisdaylive.com

Trump Jerusalem Move: Violent Clashes in West Bank Leave 16 Palestinians Wounded Clashes between Israeli troops and Palestinian protesters in the occupied West Bank has left not less than 16 Palestinians wounded, as protests against US President Donald Trump’s recognition of Jerusalem as Israel’s capital erupted.

While the injuries are mostly from tear gas and rubber bullets, at least one person was hurt by live fire, according to a BBC report.

There were also reports of wide-spread strikes and streets protests among Palestinians in

CHANGE OF NAME I, formerly known and addressed as D/^^ & ͳK^ K^ t Zh, now wish to be known and address as DZ^ & ͳK^ K^ t Zh OYELADE. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as OLAOLUWATOYOSI PHILLIPS, now wish to be known and address as OLAOLUWATOYOSI EFFIONG. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as CHEKWUBE CECILIA ANAEKWE, now wish to be known and address as CHEKWUBE CECILIA UGWU. All former documents remain valid.

The general public should please take note.

CONFIRMATION OF NAME

dŚŝƐ ŝƐ ƚŽ ĐŽŶĮƌŵ ƚŚĂƚ ŵLJ ŶĂŵĞ ǁĂƐ ĞƌƌŽŶĞŽƵƐůLJ ǁƌŝƩĞŶ ĂƐ NURA TAJUDDIN instead of NURA TAJUDDEEN on my BVN. That my correct name is NURA TAJUDDEEN. All documents remain valid. The general public should please take note

both the West Bank and the Gaza Strip.

In a bid to further stoke the tension, the Islamist group Hamas called on Palestinians on Thursday to abandon the peace process and launch a new intifada or uprising against Israel, which has since deployed hundreds of extra troops in the West Bank.

The Israeli military, which according to Reuters said it was reinforcing troops in the West Bank, has deployed several new army battalions and placed other forces on standby. These were measures it described as part of its“readiness for possible developments”.

Trump’s announcement was

greeted worldwide with dismay and has reversed decades of US policy on the sensitive issue.

Many of Washington’s allies have declared their opposition

to the move, and both the UN Security Council and the Arab League plan to meet in the coming days to decide their response.

The US president was

quoted by BBC to have said on Wednesday that he had “determined it is time to officially recognise Jerusalem as the capital of Israel”.

“I’ve judged this course

of action to be in the best interests of the United States of America and the pursuit of peace between Israel and the Palestinians,” he said.

California Fire Burns Bel-Air Mansions as Spread Continues Residents of Los Angeles’ wealthy Bel-Air neighbourhood have found their homes under threat after another wildfire erupted in California, BBC reports.

The so-called Skirball Fire destroyed several homes in the exclusive area, quickly spreading over 150 acres.

It is the latest eruption of wildfire in the state, which

has already seen widespread destruction from a series of uncontrolled blazes.

The largest, named the Thomas Fire, has covered some 90,000 acres.

By Wednesday night local time, California’s fire service said it had threatened 12,000 buildings, destroyed 150, and was only “5% contained”.

Mandatory evacuation

orders remained in several areas, as strong winds helped to spread the flames.

Authorities issued a purple alert - the highest level warning ever issued in the state - amid what it called “extremely critical fire weather”.

Ken Pimlott, head of California’s fire response, told reporters: “There will be no ability to fight fires in this

kind of wind.”

He said evacuations would be prioritised.

The nearby University of California, Los Angeles (UCLA) cancelled all classes on Thursday, despite the university campus lying outside the evacuation zone on the city’s west side. It said it had taken the decision “given the array of uncertainties”.

˾ FRIDAY, DECEMBER 8, 2017

47

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Social Manners with the Elderly – 2 Continued from last week

Shaykh Abdul-Fattaah Abu Ghuddah (RA)/HaqIslam

A

bu Dawood and Al-Hakim reported as an authentic Hadith that Maimün bin Abi Shabîb recounted that a beggar stopped the Prophet’s wife Aisha (RA) and she gave him a piece of dry bread. At another time, a properly-dressed, well-groomed man asked her for food. She let him sit and offered him a meal. When asked about that, she replied that the Prophet (PBUH) said: ‘Treat people according to their status.’

Imam Al-Nawawi concluded this chapter by citing a Hadith as reported by Al-Bukhari and Muslim in which Samura bin Jundub (RA) said: ‘Though I was a young child at the time of the Prophet, I used to listen to what he said and memorize it. Nothing prevents me from narrating my knowledge except the presence of men older than me.’

In conclusion, the Sunnah is to start according to the following order of merits: age, knowledge, social status, lineage, veterans of Jihad, generosity or similar virtues.

Further, the Sunnah of hospitality, is to start with the most prominent, then to move to those on the right in order to harmonize the custom of starting on the right with the custom of starting with people of virtue.

Some people who misunderstand the real meaning of some texts of the Sunnah claim that the Sunnah is to start with those on your right whoever they are. They base this on Hadiths that stress starting from the right. But this is only true when the group is in all ways equal in character, status or age. However, if one of them is distinguished with a merit such as old age, then the Sunnah is to start with this person.

In his book Al-Bayan wa Tahsîl Imam Ibn Rushd said: ‘As a rule, if the status of those present is equal, one should start on the right, as with every desirable act. However, if a scholar, an honourable person or an elder is present, the Sunnah is to start with such a person and then move to his or her right in a counter clockwise fashion. The Messenger of Allah was offered milk mixed with water while a Bedouin was sitting on his right, and to his left, was sitting Abu Bakr.

The Prophet drank some and handed it over to the Bedouin saying, ‘From the right, then to the right.’

Do not proceed to the left in an anti-clockwise fashion, even if the person to the left is of a higher status, unless those on the right agree to pass their turn. The Messenger (PBUH)

was sitting with elders on his left and a young man on his right. He was brought a drink. After drinking, he asked the young man: ‘Would you give me the permission to pass it to those? The boy answered: ‘By Allah no. I would not favour anyone with my share of your drink.’ The Prophet willingly put the drink in the child hand indicating that it is his right.

The Indian scholar, Al-Mubarkfuri, in his treatise on explaining Jami` Al-Tirmizi elaborated on this. When commenting on the Hadith, ‘the server should be the last one to drink,’ Al-Mubarkfuri said, ‘This indicates that the server should delay his drink until all the guests are served.

The same applies when fruits are being served. The most notable should be served first, and then those of the right until everyone is served.’

Al-Minawi in his explanation of Sharh Al-Shamail commented on the previous Hadith of Ibn Abbas: ‘This implies that the Sunna is to continue serving drinks and food with those on the right of the most noble person even if that person happened to be less important than the person on the left.’

A Hadith in Sahih Muslim reinforces this rule of serving the elder or the most noble first, and then those on his right.

Abdullah bin Bosur said, ‘The Prophet visited my father and we served him with food made of dates and butter.

Then he was brought dates, and he ate it and threw the pit using his middle and forefingers. Then he was brought a drink from which he drank and passed it to his right.’

The words ‘he was brought a drink’ clearly indicates that he was served first before those on his right since he was the noblest person present, and that then he passed it to those on his right. It indicates that they started with the Prophet out of respect and not because he asked for a drink.

The preceding words ‘he was brought dates’ reinforces this understanding. It is very unlikely that the Prophet, while a guest, will ask his host for food and then for drink. It could be argued that this is a possibility. Indeed, it is a hypothetical possibility that lacks evidence or probability.

An important aspect of proper manners is that some people extend help and hospitality to strangers out of faith and pure humanity. If it becomes known that the person needing help has additional virtues such as being a scholar or notable person, they will go an extra step in their generosity and providing help. This is undoubtedly evidence of right instinct and faith which motivated such gestures.

Therefore, the general rule is to start from the right if those present are equal in merit. However, if there is a person

who is well-known for a respectable trait, then start with that person.

If we were to follow the alleged rule that hosts ought to start with the person who happened to be on their right, then we could start with a young child, a servant, a driver, or a guard, at the expense of more prominent guests such as a dignitary, a revered scholar, a notable, a parent, a grandparent, or an uncle. Would it be acceptable by the Shari’a and its refined manners to forsake honouring and starting with persons of character, in favour of starting with a child, a servant, a driver and then proceed to persons of higher status? Also, it is possible that the ten persons or more are sitting on the right side before the most honourable person.

To reach them at the end does not befit their status and may offend them. Islamic manners definitely do not accept this irregular conduct.

However, if someone asks for a drink, they have the right to the request before anybody else regardless of age or status, and the round should proceed with those on their right. If this person notices someone older or of higher status showing desire for the drink, he, or she may willingly give up his, or her right in favour of that person. When preferring others to yourself, you have practiced the Islamic manner of unselfishness, and you will achieve great virtue, and honour and gain great rewards.

To respect, obey and give precedence to the elderly is an old and established Arab custom. Here I would like to quote in full the advice of Qais bin Asem AL-Tamimi, a great companion. On his death bed, Qais advised his children to make their elders/seniors their leaders from whom they will also receive valuable advice and wisdom all revolving around Islamic behaviour.

Qais bin Asem Al-Minqeri Al-Tamimi was one of the leaders of Tamim. Famous for his eloquent speeches, the Prophet gave him the title ‘Master of the desert dwellers.’

He was a wise and mild-mannered person. On the 9th year of Al-Hijra, he came to visit the Prophet (PBUH) in Medina with a delegation of his tribe Bani Tamim. When the Prophet (PBUH) saw him he said ‘This is the master of the desert dwellers.’ He spent his last years in Basra where he died in the 20th year of Al-Hijra.

He was very patient and lenient. Ahnaf bin Qais, a famous Arab sage, was asked, ‘Who taught you patience and leniency?’ He answered, ‘Qais bin Asem Al-Minqeri.

Once I saw him sitting in his courtyard talking to his guests and his tribe. A man tied-up in ropes and a deadbody were brought to him. He was told, ‘This is your nephew.

He killed your son.’ Qais bin Asem remained calm and continued his conversation until he was finished. Then turning to his nephew, he said to him: ‘You have done the worst. You have sinned toward your Lord, you harmed your relative, and murdered your cousin. You killed yourself and weakened your tribe.’ He called another son and said to him, ‘My son, go to your cousin and untie him, go to your brother and bury him, and go to his mother and give her a hundred camels to compensate her for the loss of her son.’

Al-Hasan Al-Basri who met him and studied at his hand said that when Qais bin Asem was dying, he called his thirty-three children, and advised them as follows: ‘Oh my sons, fear Allah and remember what I will say, for no one will give you more sincere advice. When I die, make your seniors your leaders. Do not make your juniors your leaders for if you promote your seniors you will maintain your father’s memory. Do not make your juniors your leaders for if you do so people will not only disrespect your seniors, but will look down at you. Do not wail on my death for I heard the Prophet forbidding wailing.

Look after your wealth for it enlightens the generous and obviates the need to be mean. Do not beg people for that is the worst of wealth. Avoid bad traits which may please you once, but displease you many times.”

Qais then called for his quiver, and asked his eldest son, Ali, to take out an arrow. He then asked him to break it which he did. He then asked him to break two arrows and this he did. He then asked his son to bundle thirty arrows with a tie and break them all, but his son could not. He said, ‘My sons, you will be strong if united and weak if separated.’ Then he composed the following poem: Glory is what the truthful father built and which was maintained by the children.

Glory, bravery and leniency are best adorned with chastity and generosity Thirty you are, my sons, in face of calamities and trouble You are like thirty arrows bundled in a strong tie It will not be broken, but once separated will be easily broken Your elders, your best mannered, should be your leaders Your young should be protected and nurtured until your youngest matures.

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Makarfi, PDP Governors Ready for Transparent Convention, Says Adeniran

Dopkesi: I won’t step down Metuh, Ubah, others fault Anambra congress

Onyebuchi Ezigbo ÓØ ÌßÔË Less than 24 hours to the commencement of proceedings at tomorrow’s elective national convention of the Peoples Democratic Party (PDP), some aspirants have expressed confidence that the process will be fair and transparent.

One of the chairmanship aspirants from the South-west, Prof. Tunde Adeniran, said yesterday that there was hope that election at the convention would be open, transparent and credible.

Adeniran who had earlier expressed reservations on the preparations for the conduct of the convention, said the party leadership has satisfactorily responded to the issues he had raised, adding that his fears have been allayed.

Speaking with journalists yesterday, the Director General of Adeniran’s campaign organisation, Alhaji Shehu Gabam, said the governors elected on the platform of the party have shown their determination to ensure that the convention is conducted in a transparent and fair manner.

He said: “Governors have agreed that the convention must be transparent. We are happy with the Chairman of the National Convention Planning Committee, Delta State Governor, Ofeanyi Okowa. I have worked with him, he is a man of integrity.”

According to Gabam, the

governor is doing what is right so far, adding that there is no doubt that he will be transparent in the conduct of the convention.

“We are happy with the chairman of the convention committee, he is a man of honour. We know him very well.

“He has assured us that there will be free and fair contest.

We have no reason to doubt him. We believe them and we hope that the election will be transparent, open and credible,” Gabam said.

On the complaints that they made over the composition of the convention committee, he said: “We raised series of issues in the past. But the leadership of the party has demonstrated capacity. Most of the issues we raised have been addressed, whether they were 100 per cent or not, they have allayed those fears and we are grateful.

“We don’t have much to complain about. Most issues have been taken care of. We raised issues on the chairmanship of the electoral committee and the party responded, we now want to allow everything to lie. Other issues, nature will tidy them up.”

The campaigns DG said the delegates, have displayed maturity adding “having gone round the country, the show of support from the delegates gives us no doubt that they understand the dynamics of today.

“It shows that we have left the era of delegates being

cajoled into doing what they are against. They have shown maturity and They can take their own decision. I appeal to them to vote according to their consciences,” he said.

Also yesterday, one of the chairmanship aspirants and the founder of DAAR Communications Plc, Raymond Dopkesi, said he would not step down for any one in the race.

In a statement issued yesterday by one of his campaign officials, Ide Eguabor, the politician urged party delegates to disregard “ such cheap and division which are

antics aimed at causing I’ll win in the PDP. “Dokpesi will not step down and those wish so are advised to redirect their energies to campaigns that will benefit their aspirants rather than dissipate energy in negative direction.”

Dokpesi said the national convention is the first real effort by the PDP since inception at entrenching an internal democratic process that will lead to deepening the country’s democracy.

According to Dokpesi, the era of impunity and imposition has long gone out of fashion.

“The delegates will decide every contestant’s fate and we should all agree to abide and accept the convention decision,” he said.

However, just as the party leadership is putting everything in place for the convention, some PDP stakeholders from Anambra State stormed the national secretariat in Abuja yesterday to protest against what they described as fraudulent congress conducted in the state.

In a petition jointly signed by the former National Publicity Secretary, Olisa Metuh; a

member of the BoT, Chris Ubah; Prince John Emeka, Chris Azubogu and nine others, the party stakeholders said there was nothing like state congress that took place in Anambra State on December 4 as was being erroneously presented.

The group at a meeting held at residence of the Secretary of the National Caretaker Committee, Senator Ben Obi, in Abuja urged the party leadership to order a repeat of the exercise on another date after tomorrow’s convention.

WOMEN’S SUMMIT

Lagos State Governor, Mr. Akinwumi Ambode; Oyo State Governor, Senator Abiola Ajimobi; his wife, Florence; a former Vice Absence of Co-defendants L-R: President of Zimbabwe, Dr. Joice Mujuru; and a former Liberian First Lady, Senator Jewel Howard-Taylor, during the opening ceremony of the 2017 National Women’s Summit, organised by the Oyo State Officials’ Wives’ Association (OYSOWA) in Ibadan.....Wednesday Stall Fresh Arraignment of FG May Sell off 2,000 Houses in Abuja over Tax Avoidance Maryam Sanda The absence of co-defendants in the trial of Maryam Sanda, who allegedly stabbed her husband, Bilyaminu Bello, son of the former Chairman of the Peoples Democratic Party (PDP), Haliru Bello, to death stalled hearing in the case yesterday.

Sanda was alleged to have killed her husband by stabbing him with a knife.

The names of the three codefendants to be arraigned alongside Sanda before Justice Yusuf Halilu of FCT High Court, Jabi, were, however, not mentioned.

At the last court sitting on November 24, the prosecuting counsel, Mr. James Idachaba, prayed the court to adjourn the matter to enable the filling of an amendment based on new facts.

The filling of the amendment charge consequently brought against the other defendants, the trial judge, therefore, said it was necessary to wait for the prosecution to bring the other defendants before further action could be taken on the matter.

Halilu said: “I have listened to the defendant counsel, I will not grant her bail, all arguments about her bail application shall be taken together on December 14 when all other co-defendants will be brought to court.

“We must be very tidy, I am a judge with principle, the prosecution has enough time to

encourage the sureties to look for other defendants; this is an amendment charge’ you must make extra effort to get other defendants arraigned before me.

“In the meantime, the defendant should be taken back to Suleja prison.”

Earlier, Idachaba had told the court that all efforts to bring other co-defendants were not possible as their present location could not be ascertained.

The News Agency of Nigeria (NAN), learnt that it had been very difficult for the prosecution to serve the co-defendants and prayed the court to adjourn the matter to another day.

“We will do our best to bring them to court; the bail application should not be taken now since others are not here, there is a new charge before the court and some other prove of evidence.

“We feel it may not be necessary to take the bail application now, this should be in the interest of justice; we pray that the application should be adjourned to be taken with the new amendment charge,’’ Idachaba said.

On his part, the defendant’s counsel led by Mr. Joseph Daudu (SAN), informed the judge that “more papers and better affidavit to defend the matter had been filed before the court.”

Harvests N17bn from VAIDS in five months

Ndubuisi Francis ÓØ ÌßÔË The federal government disclosed yesterday that it has uncovered 2,000 houses in Abuja whose owners are not paying taxes on them, giving an indication it may soon dispose off the property after securing the necessary legal backing.

It also revealed that a total of N17 billion had been garnered under the Voluntary Assets and Income Declaration Scheme (VAIDS) since its formal commencement on July 1, 2017 , with another N6 billion expected before the end of the year.

The Executive Chairman, Federal Inland Revenue Service ( FIRS), Mr. Tunde Flower, who made the disclosures in Abuja yesterday at a workshop for media professionals hinted that the tax agency identified 2,000 properties in various parts of the Federal Capital Territory (FCT), whose owners neither pay taxes nor file returns on them.

He stated that should the owners of 2,000 property refuse paying commensurate taxes on them, FIRS would seek the consent of the courts to dispose off the houses, noting that after netting off taxes due on them, the balance (if any), will be handed to their owners.

On the N17 billion raked in

from VAIDS, the FIRS chief he said the amount came from fewer than 500 firms ,adding that more revenue would roll in in days to come.

Fowler noted that more entities wee desirous of seizing the window of opportunity offered by the tax amnesty to regularise their tax status, adding that the government had engaged consultants who are asking questions for clarification. “ Less than 500 firms have paid N17 billion and another N6 billion is being expected to be paid before the end of December”. In terms of number, we have not gotten the type of crucial number we envisaged when we gave tax amnesty.

“We have 2,700 companies that applied for it. Now, we are talking about several companies that have come under VAIDS .

A lot more needed to be done.

Companies are asking questions, talking to consultants. We expect a whole lot more to come in as the programme gets to close,” he said.

The March 31, 2018, deadline given to people and corporate bodies to regularise their tax defaults, he said, is sacrosanct and will not be shifted.

In his paper captioned: ‘VAIDS: A Tax Amnesty in Action,’ the Managing

Consultant, Pedabo Associate Limited),Mr. Albert Folorunsho, said VAIDS is not a law but a scheme to compel people to pay tax, and dismissed insinuations that some people could head to court to cripple its implementation. “ No new tax laws have been put in place .VAIDS is just a scheme to encourage tax payers to comply with existing tax laws.

If you are liable to income tax, the rate remains the same. It’s like come and pay before we begin to pursue you. Come voluntarily and pay within nine months.

“If you decide not to come forward, no problem; after the grace period , you have to pay your tax including penalty after expiration of amnesty,” he said.

On the status of churches, mosques and other houses of worship taxes, he said religious houses are exempted from taxes.

However, he said if they had business outfits that generate income, such income is taxable.

“Churches and mosques are exempted from taxes. However, any church or mosque that engages in business , the income from the business is liable to tax.

If a clergyman earns income in his capacity as a clergyman, either from the church or other sources, as an individual, you

are liable to tax.

“No exception in tax laws for clergymen. This is not for churches or mosques to begin to pay tax on their tithe or offerings.

But if religious organisations set up schools for business, it has to pay tax on them,” he said.

On property tax, he explained that, “when property begins to generate income , whether owned by individual or company, the owner will be required to pay tax on the income on the property,” adding that rent collected from a property is a taxable income.

VAIDS, which was launched on June 29, 2017 is a time limited opportunity for tax payers to regularise their tax status relating to previous tax period.

Designed for a nine-month period, it fully commenced on July 1, 2017.

In exchange for fully and honestly declaring previously undisclosed assets and income, tax payers will benefit from forgiveness of overdue interest and penalties, and the assurance that they will not face criminal prosecution for tax offences or be subject to tax investigation.

VAIDS ushers in an opportunity to increase the nation’s general tax awareness and compliance.

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2019: Group Begins Move to Reshape Nigerian Politics Onyebuchi Ezigbo ÓØ ÌßÔË As the build-up to the activities leading to the conduct of next general election in the country in 2019 gradually picks up, a sociopolitical group, Revive Nigeria, has said it will spearhead the drive for a new political system that can transform the people positively.

Among the things the Revive Nigeria Group (RNG) hopes to achieve is to strive to promote a united Nigeria where social justice and fairness would supersede individual interests.

The group, which prides itself as a platform of citizens of Nigeria, comprising professionals, students, women’s association, academia and artisans, said it would as part of its engagement towards reshaping the political environment embark on voter education and public enlightenment to improve citizens participation in governance.

Speaking during the formal launch of the initiative in Abuja yesterday, the Chairperson of the group, Aisha Umar, said one of the most critical issues troubling the nation today is identity crisis.

She also said the country as of today is battling with hydra-headed problem of disunity which has impacted negatively on the effort to drive development process.

On the reasons why her group did not float a political party in order to seek support of Nigerians to actualise their vision, Umar said they found the operating political

system highly defective and not encouraging enough to engage in party politics.

“When we went for our retreat, we actually looked at the possibility of forming a political party but what we discovered was that the environment was not right.

We felt that before we can come with the kind of political party that we wanted that we have to do something about changing the environment. So because of that we decided to us just try and understand the underlying problems,” she said.

Umar said rather than forming a party, RNG believes it would be better to work in partnership with other like-minded Nigerians and development partners to bring about total reform of the political system before eventually joking active politics.

“One of the problems we identified was that of lack of national identity. The fact that we don’t have a national identity, national unity means that political party can’t work well in the country. So we concluded that the situation has affected the political environment and that makes it defective. So we felt that there is no point floating a political party if means operating in this environment.

“So our focus right now is to try and change the environment to make it more conducive for our people to operate in,” Umar said.

She said what the group is

concentrating on achieving right now is to pursue the cause of a new national identity, unity, youth development and gender equality.

Earlier in his remarks, the Chairman of the group’s subcommittee on Good Governance. Frank Nweke Jnr, said the aim of the initiative is to try and reshape the way issues of politics and development have been handled in the country.

He said the group’s strategy would be to engage Nigerians in and out of the country “no matter the political party you belong to, no matter the political aspirations you have, everyone has one view to ensure the progress of the country, security of lives and the wellbeing of the people within a given state, and we believe that these goals can be achieved through appropriate youth participation and trying to enlighten people to demand good governance, to become more conscious and aware of the role that we have played in the attainment of good governance in our country.

‘We believe that this can be achieved through the the development of a nationalistic re-orientation. The fact that we have one nation, one destiny and that all us have a responsibility to build a nation of our dreams, we believe that we can do this through voter education and sensitisation.

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FG Confers 2017 National Merit Award on Adesina, Onobrakpeya Says FG will continue to support research activities Omololu Ogunmade ÓØ Abuja The federal governmetnt yesterday conferred the 2017 Nigerian National Merit Award (NNMA) on a notable Nigerian scholar, Professor Adesoji Adesina and a celebrated artist, Mr. Bruce Onobrakpeya at the Council Chamber of the Presidential Villa, Abuja.

Vice President Yemi Osinbajo who made the conferment on behalf of President Muhammadu Buhari, who is on a two-day official visit to Kano, lauded the research and intellectual qualities of the recipients, promising that the federal government would continue to support research innovation in the country.

The vice president who said posterity would not forgive government functionaries if they fail to provide support for research activities, added that every winner of NNMA was unique, describing the recipients as “milestones of Nigeria’s checkered history.”

Submitting that the duo bear awesome responsibilities, Osinbajo hailed the recipients for the intellectual feat they attained as he challenged them to further deploy their huge experiences to advance the course of the

society, recalling the words of Bernard Baruch that “man can’t retire his experience but must use it.”

The vice president who also praised the Governing Board of NNMA, said so far, the board had identified 75 recipients of the award, observing that the award “epitomises the finest of Nigerian innovation” as he welcomed Adesina and Onobrokpeya into what he described as the “prestigious league” of Nigerian National Order of Merit Investiture.

Extolling the sterling qualities of the recipients, Osinbajo observed that the works of Adesina in engineering and technology span over three decades in various fields including mining, defence, manufacturing, among others, with over 400 publications and competitive research grants.

Osinbajo also said Adesina had trained a number of students including 42 PhD holders whom are now professors, executives in petro-chemical industry and captains of engineering designs in various parts of the world.

In the same vein, the vice president who said the works of Onobrakpeya in arts and humanities have spanned six decades, described the celebrated artist as a painter, initiator of art, author and

philantropist.

According to him, Onobrakpeya had received over 30 awards and appointments in recognition of his excellent and intellectual contributions to humanity as well as lifetime awards.

He further described Onobrakpeya as a social commentator, whose works of art date back to 1957, the period he described as the early development of arts in the country. He further described him as an advocate of social causes who focuses on social developments.

Responding on behalf of the recipients, Adesina who said they were thankful for being recognised at the highest level of government award, described the episode as memorable. He also expressed appreciation for all the efforts made by the Governing Board of the Nigerian National Merit Award towards the success of the award.

Born in April 1952, Adesina who obtained first class honours in Chemical Engineering in June, 1980 at the University of Lagos, later obtained PhD in University of

Waterloo in Canada in 1986.

He left the University of Port Harcourt as a lecturer in 1989 for the University of New South Wales, Sydney, Australia and became a professor in 2004. He initiated and developed an internationally renowned group in reactor engineering and technology.

Onobrakpeya, on his part, was born in August 1932 and obtained Diploma in F.A. of London University and post graduate Art Teachers’ Certificate in Zaria.

He has participated in over

68 exhibitions in Africa, Asia, Europe, North America and South America with his works found in the most prestigious museums and galleries such as the Vatican Museum in Rome, Smithsonian Institute in Washington DC., the Suomi in Finland and Victory Museum in Baghdad.

His works are used to decorate notable places in Nigeria such as the office of Nigeria’s president in the Presidential Villa, Abuja and Murtala Muhammed International Airport, Ikeja, Lagos

PDP Convention: It’s Risky to Elect Anyone with EFCC QUALITY IN FOCUS Case, Kashamu Warns Yobe State Governor, Ibrahim Gaidam (fourth left), and some state officials at the Government Secondary School, Nangere when the governor visited the school after the completion of its renovation, furnishing and equipping ....yesterday

Ahead of Saturday’s national convention of the Peoples Democratic Party (PDP), the senator representing Ogun East senatorial district in the National Assembly, Buruji Kashamu, has drawn the attention of delegates, leaders and stakeholders of the party to media reports that the Economic and Financial Crimes Commission (EFCC) was planning to re-arrest some aspirants accused of corruption cases.

According to the media reports, which are yet to be refuted, the aspirants included two former governors from the South-west and two other aspirants from the South-south who were accused of receiving money from the Office of the immediate past National Security Adviser, Col. Sambo Dasuki (rtd).

In a statement issued yesterday in Abuja, Kashamu said: “While it is true that an accused is presumed innocent until proven guilty, our great party cannot afford to close its eyes to this potential threat.

“It is a no-brainer that if a national chairman with a corruption case is elected, the party will literally be put on trial with him. This is one avoidable risk that is too much to take. You can be sure that a corruption trial of the national chairman of an opposition party will come with a lot of bad publicity that will sound the death knell of the party.”

He urged the delegates and

stakeholders, especially the South-east, to support the quest of the South-west to produce the national chairman in the interest of equity and justice.

While calling on the South-east to borrow a leaf from the Northern Elders Forum (NEF) in supporting the South-west in its aspiration, Kashamu said, “Our brothers and sisters from the South-east need to be categorical now in support of the South-west on the ongoing national chairmanship tussle between the South-West and the South-South.

“The implication of this avoidable tussle is to make uncertain the settled South-east vice-presidential quest in 2019. If the South-east expectedly takes a principled stance in support of the South-west, naturally as a reliable race in adherence to agreements, the Yoruba people would reciprocate without any prompting. What is currently happening is glaringly an orchestrated assault on the Southwest to end up with nothing in 2019, just like we did when our party was in power. This is a dangerously illogical political permutation for 2019 national elections.”

Although the lawmaker acknowledged the right of others to seek election, he was of the view that it should not be done at the expense of established norms and agreements.

Agbakoba Asks Nigerians to Take over Country with the National Intervention Movement Segun James ËØÎ Sunday Okobi A Senior Advocate of Nigeria (SAN), Mr. Olisa Agbakoba, has called on Nigerians of all creed and tongue to take advantage of the rave of the moment in Nigeria called the National Intervention Movement (NIM) to put the country where it rightly belongs by demanding good leadership at all time from the political class.

He called on Nigerians to wrest power from the political elite for the betterment of the society.

Agbakoba who visibly lamented the current ‘pathetic’ state of the country, highlighted the many wrongs in the system, saying it was time Nigerians called their leaders to order through a credible and apolitical platform like the NIM. At a media parley yesterday in Lagos, the maritime lawyer cum activist who disclosed that on November 29, he and other concerned Nigerians, out of serious anxiety about the state of the nation, decided to

initiate NIM as a platform to uplift and ‘defreeze’ Nigerians (who he said are frozen right now) so as to salvage what is left of the country.

According to him, Nigerians need a coherent platform to prevent bad leadership in the country, hence the constitution of NIM, adding that “we want a functioning democracy where political office holders are accountable to the people, public institutions are strengthen and the rule of law works.

“We want the government to work for Nigerians.

Presently, it is not. President Muhammadu Buhari needs to take his job seriously by sacking his entire cabinet because they have failed. In the meantime, he is sleeping on the job.”

Agbakoba, who noted that against the insinuation that he has the backing of some political bigwigs, stated that former President Olusegun Obasanjo did not give him any support in the formation of NIM, adding that NIM is a political movement but not a political party, and has

no political interest at the moment.

He explained that “membership of the movement is free and easy.

Participation will be based on social media among others to galvanise Nigerians to speak against bad government in one voice. Changing the way our political leaders think and act is what the movement is all about. The movement which was formed by G90 doesn’t hold onto anybody’s political ideology or interest, it doesn’t also prevent any member’s political interest but must be distant from the movement because it is strictly apolitical.”

On the many wrongs in the system which the former Nigerian Bar Association (NBA) president said led to the initiation of NIM, he asked: “Why for instance has nobody been fired for Mainagate?

What is government plan for unemployment? 70percent of our young people are unemployed, and this is alarming!

“What is the federal government plan for power?

Should the privatisation

process be reversed? Why are our bidding and procurement processes failing? Why is government still appropriating billions of naira for turnaround maintenance of dead refineries?

“At the states, governors must deploy state resources efficiently. For example, Governor Akinwunmi Ambode of Lagos State is fixing federal roads when state roads are deplorable; Governor Rochas Okorocha is erecting status of all kinds of people when Imo State owes pensioners; Governor Ayodele Fayose is making Christmas clothes for children but has not paid Ekiti State workers, and on his own, Governor Nyesom Wike is using River State money to buy SUVs for members of the National Assembly. All these must stop! Is it not a scandal that oil producing states like Rivers, Bayelsa, Abia, Delta among others owe salaries? So the Nigerian people will use this movement to guide as well as cut the excesses of their political leader. Enough is enough!”

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

Ronaldo Wins Fifth Ballon d’Or to Equal Messi’s Record Femi Solaja with agency report Real Madrid forward Cristiano Ronaldo yesterday defeated Barcelona’s Lionel Messi to win the Ballon d’Or award for the fifth time - and the second year in a row.

The victory took the 32-year-old Portugal international level with 30-year-old Argentine Messi, who won the most recent of his five awards in 2015.

Messi’s ex-Barcelona team-mate Neymar, now at Paris St-Germain, was third.

Last season, Ronaldo helped Real Madrid win the Champions League and their first La Liga title since 2012.

Speaking shortly after he was presented his award at the ceremony which took place in Paris yesterday, Ronaldo thanked his Real Madrid team mates for making it happen.

“This is something I look forward to every year,” he said.

“Thanks to my Real Madrid team-mates. And I want to thank the rest of the people who helped me reach this level.”

Ronaldo moved level with Messi at the top of the all-time

Champions League group stage goalscorers leaderboard on Wednesday after helping Madrid to beat Borussia Dortmund 3-2.

In 2010, the Ballon d’Or and the FIFA World Player of the Year were fused for the FIFA Ballon d’Or to select the world’s best player of the year, based on votes from media, team coaches and captains.

But the French publication France Football and FIFA parted ways last year as their six year contract ended without it been renewed.

The Ballon d’Or was first introduced in 1956, when the European Cup (now known as the Champions League) came into existence, to reward players based on their performances in the previous 12 months on votes exclusively from journalist in Europe.

The FIFA World Player of the Year, on the other hand, was introduced in 1991 and awarded until 2009 with the winner decided by votes from national team coaches and captains from all of the association members.

Ikpeazu Inspects Enyimba Stadium Assures fans on its completion Abia State Governor, Okezie Ikpeazu, has promised that funds won’t delay the completion of Enyimba Stadium in Aba. The assurance was given when the governor inspected work at the arena early this week.

Ikpeazu who was conducted round by the contractor, Monimichelle expressed satisfaction with the pace of work at the complex. He declared that the project was one he was prioritising.

The governor said Enyimba would not be playing their continental matches next season

in exile.

“We are bringing Enyimba back home and my joy is that we have a competent contractor that is ready to deliver. We will provide the funds he needs to complete the job,” he noted.

CEO of Monimichelle, Ebi Egbe, on his part was full of praise for the governor. “Enyimba would at the end of the day have one of the best playing surfaces in the country. Governor Ikpeazu has clearly demonstrated that this is a project after his heart and we won’t let him and Enyimba fans down,” pledged the contractor.

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ABU Title: Egyptian Champion Vows to Defeat Joe Boy Egyptian and Mediterranean Lightweight Champion, Abdulrahim Ahmed, has vowed to defeat Nigeria’s Oto “Joe Boy” Joseph when they clash for the African Boxing Union (ABU) lightweight title fight at GOtv Boxing Night 13 on December 26.

The event, which holds at Landmark Events Centre, Victoria Island, Lagos, will feature seven bouts.

Speaking from his base in Cairo, Ahmed said he is ready, willing and able to win the title.

“Joe Boy is a small boy. I hold the Egyptian and Mediterranean titles. I have fought better boxers and Joe Boy is in big trouble. It does not matter that the fight is in Lagos. I am going to win,” he said.

GOtv Boxing Night 13 will, in addition to the boxing bouts, feature live performances by

Small Doctor, Falz, Reekado Banks and Simi.

Equally fighting for an international title is Nigeria’s Abolaji “Afonja Warrior” Rasheed, who will defend his West African Boxing Union (WABU) title against Arye Ayitteh of Ghana. Two national title bouts are also scheduled.

Rilwan “Baby Face” Babatunde will be taking on Chijioke “Painless” Ngige for the national light welterweight crown. The “Real One” other pits Rilwan

Oladosu against Kehinde “Ijoba’ Badmus for the lightweight title.

A lightweight challenge bout will feature Rilwan “Scorpion” Oyekola and Jimoh “Hogan Jimoh Jr”, Lukman, while Matthew “Wizeman” Obinna and Cosmos “Awosika” will clash in the super middleweight category.

Ronaldo… equals Messi’s record

Quadri Ends 2017 Rated 21st on Latest ITTF Ranking Aruna Quadri set a new personal record for Nigeria and himself as he is now ranked 21st in the end-of-the-year ITTF ranking released yesterday by the world table tennis ruling body.

Quadri now dwarfed his best of 25th in the ranking to displace Egypt’s Omar Assar as the continent’s best ranked player in the world.

Despite not matching up the record set by Assar as the first African ranked among top 20 in the world, Quadri ends the year as the highest ranked African in the latest rating.

Following his victories over top-ranked players at the Swedish Open, Quadri amassed 50 points to improve from 2457 to 2507points to be rated 21 in the world.

Prior to this latest ranking, the best achieved by Quadri in the world rating was 25 and with this, he has set a new record for Nigeria and himself.

However, the inactiveness of Omar Assar may have affected his rating, as the Egyptian dropped from 20 to 26 in the December ranking.

Speaking on Quadri’s

ranking, President of Nigeria Table Tennis Federation (NTTF), Ishaku Tikon, said the feat was commendable as the player continues to put Nigeria and Africa on the world map with his scintillating performances at global stage.

“We are excited about this latest ranking and this goes to show that our efforts are paying off and what we just need to do is to ensure we unearth and nurture more players like Quadri.

Also, young players need to take a cue from Quadri in terms

of his diligent, professionalism and dedication to the trade.

“I hope and believe they can follow his footsteps in their career to make it to the top,” the NTTF boss said.

In the women’s ranking, Egypt’s Dina Meshref dropped to 110 from 92 but she still remains Africa’s best ranked female player in the world while Nigeria’s Olufunke Oshonaike inactiveness at global level continues to rub off negatively on her world ranking as she dropped from 227 to 262 in the last rating for 2017.

Rain Oil Tennis Open: Organisers Splash N3m on Players It was an epoch-making event at the tennis section of the Lagos Country Club, Ikeja, as the Group Managing Director of Rain Oil Limited, Gabriel Ogbechie, announced N3.1million prize money for the inaugural Rain Oil Tennis Open which serves off today with the qualifiers.

The winner of the competition in the men’s category will smile home with N500,000 while the women winner will be N300,000 richer at the end of hostilities at the LCC on Sunday, December 17.

Speaking during the press

conference to announce the competition, Ogbechie said his passion for the game necessitated his company’s decision to invest in the Open.

“We need to encourage our young ones to take on the game of tennis,” he said.

“Not only will they earn a decent income for themselves, they will also be able to come back and invest such income into the game of tennis and sports in the country in the future.

“We hope to make it an annual event, a tournament that the country’s boys and

girls will be looking forward to at the end of every year.

“Apart from the winner who will be going home with N500,000 and N300,000 in the men and women’s categories respectively, otherwise players will also be winning prize money.

“I can promise a healthy rivalry between the players as there will be such awareness aming them that anyone you lose to, will get twice as much as your prize money.”

The GMD further revealed that there was plan to make the competition an international

event whereby professional tennis players across the world will be converging in the country to be part of the Rain Oil Tennis Open.

Speaking further, Ogbechie lamented the inability of Nigerian players to play at the Grand Slam.

According to him, lack of investment has contributed to the inability of the game to move forward in the country.

He called on other passionate individuals and organisations to invest in the sport in the country as such will engage more players and the younger ones.

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MISSILE Obiozom to Abubakar “It is not a case of more haste, less speed. The defendant may not be guilty but the matter must be heard in court. 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.” – Judge of the federal high court, Lagos, Justice Chuka Obialor chastising Shamsudeen Abubakar counsel to former Enugu State governor, Chimaroke Nnamani for seeking to delay and prolong Nnamani’s trial.

MAGNUSONYIBE

GUEST COLUMNIST

Is Nigeria’s Security Architecture Degenerating Into a House Of Cards?

D

irector General of the Directorate of State Security, DSS, Lawal Daura accused the acting Chairman of Economic and Financial Crimes Commission, EFCC, lbrahim Magu of corruption and makes it official by sending his report to both president Muhammadu Buhari and the National Assembly (NASS).On account of that damning report, the EFCC boss failed to secure the Senate’s confirmation of his appointment.

Perhaps hurting from the inability of its acting chairman to secure parliamentary confirmation of his appointment, the agency accused the now sacked Director General of Nigeria Intelligence Agency (NIA), Wole Oke of corruption and stormed a safe house where a total of N13b in assortment of foreign currencies are discovered.

Thereafter, the EFCC went on a counter offensive against the DSS by attempting to arrest the immediate past DG of the agency, Ita Ekpenyong for his complicity in the alleged misappropriation of $2.1b funds set aside for arms purchase by the ousted regime to combat the terrorist sect Boko haram. The former NSA Ahmed Dasuki, warehoused the funds believed to have been applied as campaign funds by the immediate past administration .

Reportedly on the order of Daura, the current DG of the DSS, Ekpeyong was ring fenced by the agency’s operatives and protected from arrest.

The plot then thickens as a former Assistant Inspector General, (AIG), Isa Misau, now a serving senator accused the Inspector General of Police, Idris Abubakar of corruption for allegedly demanding bribe from officers in exchange for lucrative postings and abuse of office such as dating a female police officer etc.

Since the IGP has vehemently denied the charge, it is currently a subject of litigation .

That’s not all.

The Comptroller General of Customs,

Daura

Hamid Ali has also alleged that corrupt people formerly domiciled in the Peoples Democratic Party have now mutated and made their way into the control room of power in the current APC led govt.

While the curious and dramatic claim was being digested, the senate president, Bukola Saraki raised the alarm that the recovered looted funds are being re-looted and it is the reason the authorities in countries having custody of looted funds from Nigeria are reluctant to return same as they are concerned that the funds may be relooted.

And the alarm by the head of the legislative arm of govt is an echo of the lamentation of Abubakar Malami, attorney general and minister of justice, who had in the course of responding to parliamentary inquiry reported that Abdulrasheed Maina, the accused pension fund looter had turned over to the EFCC, choice properties recovered by him and which the anti graft agency is alleged to have resold to its cronies and cohorts.

The brazenness of the economic brigandage and the lack of appetite by the govt in power to vigorously prosecute indicted officials who populated the inner recesses of govt make one wonder if Nigeria is not supposed to be a nation

governed by the rule of laws as opposed to being a land of people who operate above the law?

Reading through the forgoing plot, anybody who had not been in Nigeria in the past 24 months would be excused if he/she thought that it’s a screen play for a blockbuster movie, like the good, the bad, the ugly,with the legendary Hollywood icon, Clint Eastwood.

However, the narrative is not a make believe movie, but an existential reality in our country Nigeria where absurdity would appear to be the new normal.

The DG of DSS, Lawal Daura captured it succintly when he narrowed down the reason the Nigerian security architecture has become like a house of cards to lack of or poor interagency cooperation .

Permit me to help those not into watching movies to familiarize themselves with the movie titled: House of Cards from which the title of this article is partly derived.

The BBC tv mini series based on a book authored by Mark Dobbs, an alumni of Fletcher School of Law and Diplomacy, my alma mater is a hit for movie lovers, especially those who cherish political dramas.

The movie exposes the under belly of British politicians and in my estimation, it now has a parallel in Nigeria.

By all indications, the security agencies’ inspired reality show with Aso Rock villa, Abuja as the main setting, and other scenes shot on locations outside Aso Rock villa such as Foreshore Towers, Ikoyi, Lagos where billions of Naira being pampered with dedicated air conditioning facilities were discovered.

Also the residence of the ex-DSS DG in Abuja where the Nigerian version of the movie, Body Guard featuring the veteran actor Richard Gear and the late songstress Whitney Houston was re-enacted, is an equivalent reenactment.

The difference between Body Guard the movie and what played out in the ex DSS boss’ residence in Abuja is that

while the subject being protected fell in love with the body guard, the opposite is the case in the Nigerian version.

Another significant exception is that instead of featuring politicians, it is full of James Bond like stunts as reflected by the bubble in Nigeria’s security fiasco which is exposing the under belly of the country’s spy community ecosystem with its attendant incalculable collateral damage.

For instance, the revelation to the public that billions of Naira are stashed away as slush funds for covert activities is an anathema. So also are the other secretive security activities which are now in the public domain and might have compromising effects on the gathering and sharing of intelligence through activities of reliable sources, undercover operatives and other members of the intelligence community who might have been unduly exposed.

In the midst of the unfolding security services hiatus, what role is the office of the National Security Adviser, ONSA headed by Babagana Mungono, playing ?

Ideally, that’s the office that’s supposed to be coordinating all the security functions of govt on behalf of Mr. president.

So what’s going on?

From a distance, the NSA who is a retired army brigadier general, strikes me as an officer and a gentleman. Correct me if l’m wrong but I’m yet to meet anybody that has a contrarian view to the general understanding that the NSA is a thoroughbred professional that does not fancy ruffling feathers unnecessarily.

To that extent, l would imagine that he must be working assiduously behind the scene to manage the damage being done to the credibility of the security and intelligence community by the ongoing butting of heads by the various agencies that are supposed to be under his purview. r 0OZJCF XSJUFT GSPN -BHPT

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