Wednesday 13th December 2017

Oil Prices Hit $65 on North Sea Pipeline Closure Chineme Okafor in Abuja with agency report Oil prices in the international market sustained their rally yesterday, with the Brent crude, the international benchmark for crude oil, trading at $65.24 a barrel, while U.S. West Texas Intermediate (WTI) crude futures traded at 58.21 dollars

a barrel The last time oil prices exceeded the $65-mark was in June 2015 when it traded at $65.49. Reuters reported that Brent crude oil prices jumped above $65 per barrel after the

closure of the Forties North Sea pipeline knocked out significant supplies from a market that was already tightening due to OPEC-led production cuts. Britain’s Forties oil pipeline, the country’s largest at a

capacity of 450,000 barrels per day (bpd), was shut down on Monday after cracks were revealed. Its operators said that the pipeline could be shut down for weeks as they pursue repairs, adding that

a hairline crack was discovered last week. “It is a supply concern not only because the pipeline transports a significant portion of North Sea crude oil output, but also because it may take weeks before the

Oyegun Salutes Secondus, Calls for Robust Engagement … Page 10

issue is resolved,” Abhishek Kumar, Senior Energy Analyst at Interfax Energy’s Global Gas Analytics, told Reuters. Also, market analysts who weighed in on the development said there was equally an oil price support from the consumer side. Continued on page 55

Wednesday 13 December, 2017 Vol 22. No 8273. Price: N250

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A’Court Affirms CCT Ruling on 15 Charges Against Saraki Returns him to tribunal on three others Senate President: Verdict vindicates me Alex Enumah and Damilola Oyedele in Abuja The Court of Appeal in Abuja yesterday upheld the ruling of the Code of Conduct Tribunal (CCT), which had discharged and acquitted the President of the Senate, Dr. Bukola Saraki, on 15 of the 18 false asset declaration charges preferred against him by the federal government.

However, the appellate court referred him back to the tribunal to enter his defence on three charges, for which he had been discharged and acquitted by the CCT. But his counsel, Mr. Paul Usoro (SAN) said the judgment would be swiftly studied, adding that the Supreme Court would be approached Continued on page 55

Lawyers Welcome Appeal Court Judgment on Prosecution of Judges Say it promotes separation of powers Tobi Soniyi in Lagos Senior lawyers in the country have commended the justices of the Lagos Division of the Court of Appeal for upholding the principle of separation of powers when they held that a serving judge could not be

prosecuted until such judge had either been dismissed or compulsorily retired by the National Judicial Council (NJC) for alleged corruption. The justices of the Appeal Court on Tuesday Continued on page 10

Trafficking of Opioid Pills Used by Boko Haram Suicide Bombers Soars in Sahel... Page 57

L-R: Vice-President Yemi Osinbajo; Speaker of the House of Representatives Rt. Hon. Yakubu Dogara; and Central Bank of Nigeria governor, Mr. Godwin Emefiele; when the VP presented the PEBEC Impact Award to Emefiele in recognition of his contributions to the 2016 -2017 Ease of Doing Business Reforms at the Presidential Enabling Business Environment Council (PEBEC) Impact Award ceremony at the Old Banquet Hall, State House, Abuja... Monday

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Oyegun Salutes Secondus, Calls for Robust Engagement Dickson’s panel to meet George, others PDP says South-west not sidelined Onyebuchi Ezigbo in Abuja The National Chairman of the All Progressives Congress (APC), Chief John OdigieOyegun has challenged the newly elected National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, to ensure a balance between partisan and national interests as he prepares to lead the PDP to provide a viable opposition to the ruling APC. Oyegun’s challenge came just as the chairman of the PDP Peace and Reconciliation Committee and Bayelsa State governor, Mr. Seriake Dickson, disclosed that the party has initiated moves to reconcile aggrieved members who lost out at the Saturday convention of the party. Also addressing journalists yesterday, the newly elected National Vice Chairman, Southeast, Chief Austin Umahi, said the party would resolve, once and for all, the crisis rocking its Anambra chapter. Oyegun who congratulated Secondus for his victory said he was ready for a robust engagement with the new PDP chairman, noting that he believed this could be done without acrimony and rancour. In a statement yesterday, the

APC chairman said he expected a responsible opposition that would ensure stable democracy in the country. He said: “I assure the PDP national chairman of my willingness to engage him robustly in an atmosphere devoid of acrimony and rancour. I believe that working together we can both elevate the language and temper of politics in our country, thereby providing the enabling environment for democracy to thrive in our country. “It is my hope that the newly-elected PDP national chairman will use his experience garnered over the years to ensure that the PDP assumes its role as a responsible opposition party in the country. “Our party wholeheartedly welcomes opposition because we believe that democracy cannot thrive without a vibrant but responsible opposition that puts the nation first. This will often challenge you to balance partisan interests with overall national considerations.� Also, in a bid to stave off a crisis arising from last Saturday’s national convention, the PDP Peace and Reconciliation Committee has swung into action, trying to make peace with those that were aggrieved over the

outcome of the exercise. Dickson said his committee was going to visit Chief Bode George and other chairmanship aspirants from this week. Other members of the committee are Ambassador Aminu Wali (Deputy Chairman); Chief Onyema Ugochukwu (Secretary); Senator Joy Emordi; former Minister of State, FCT, Ms. Jumoke Akinjide; former Minister of Information, Chief John Odey; former Minister of Environment, Mr. Laurentia Mallam; and former Minister of Police Affairs, Alhaji Adamu Waziri Maina. Speaking to journalists at the Bayelsa Lodge in Abuja Monday night Dickson, said the initial contacts they made with the aspirants were positive, adding that everything possible would be done to assuage the aggrieved ones. He said the committee had already established contact with George, adding that there was no doubt that the talks would be fruitful. According to him, “Generally, we are pleased with the outcome of the exercise (convention) but we have established contact already with those who are dissatisfied and who have concerns, issues and grievances which is normal in

an exercise such as this. “We have made efforts to establish contact with all the chairmanship aspirants. And we intend to interact with all other aspirants for various offices, with a view to promoting an amicable resolution and better understanding within the PDP family.� He said in the next couple of weeks and months, there would be a lot of action in this direction. He said members of the committee would from tomorrow commence visits to the chairmanship aspirants to see how the issues can be sorted out. Dickson appealed to all party members and leaders to apply caution in their utterances henceforth so that the reconciliatory efforts can take root. On his assessment of the convention, the governor said that it was by far a better exercise, different from what had been witnessed in recent history. Asked whether the committee would talk to those who had left the party, he said the mandate of the committee included reaching out to former PDP members and to appeal to them to emulate former VicePresident Atiku Abubakar and return to the fold.

Meanwhile, the party’s new leadership hit the ground running on its new power decentralisation policy, directing the National Vice Chairman (Southeast), Chief Austin Umahi, to take immediate steps to resolve the crisis in the Anambra State chapter. While speaking on the decision of the party on the state chapter, Umahi said the new national leadership was determined to restore sanity in the state, warning that henceforth anyone who causes trouble would be shown the way out. He said: “We want to revisit and regain Anambra State. We will be holistic in our approach. What happened in the last election was as a result of PDP fighting itself and what I call the pull-him-down syndrome. “It is not that PDP is not in Anambra. It is a result of the intrigues and people bent on pulling the PDP down in Anambra because of their selfish interests. But we are saying enough is enough. This rascality must stop and we must get it right. “And that is why as a zone, we have decided to take a position. The position is that the state congress in Anambra is suspended. We just have to go back and do the right

congresses and constitute the right State Working Committee. That is the way to go in Anambra State. “In a couple of weeks, you will see a properly constituted working committee in Anambra State.� The party, in addition, denied reports that the South-west had been sidelined with the outcome of the convention, saying this perspective was APC propaganda to set the region against the PDP. A statement by the Deputy National Publicity Secretary, Prince Diran Odeyemi said as a national party every region has representatives with equal rights and privileges in the National Working Committee. It noted that the PDP, being a truly national party, holds the South-west in high esteem and recognised its contributions in keeping alive its ideals. It however blamed the activities of some aspirants from the zone for their inability to clinch the position of national chairman, stressing that it would be a lesson in the future for politicians from the region. It said the South-west was not only fully recognised in the party but was also expected to play a critical role in returning the party to power in 2019.

relief indeed that judicial officers will no longer be under the fear and tremor of intimidation of the executive in the discharge of their official duties. “A judge should be free to deliver his judgment according to his conscience and according to the law without fear or favour, without affection or ill will. “Under and by virtue of Paragraph 21(b) and (d) of the Third Schedule to the 1999 Constitution, the NJC is to exercise the power of disciplinary control over all judicial officers. “Thus, where there is an allegation of corruption against a serving judicial officer, such should be tabled before the NJC first, as it is a matter arising from the discharge of official duties by the judge. “Otherwise, judges will become liable to do the bidding of the executive once it is possible to just pick up a judge and lock him up whenever he delivers a judgment that is not favourable to the executive.� He, however, warned that this judicial immunity should not be a blanket one, adding: “It should only be limited to matters involving the discharge of judicial duties. “Consequently, a judge involved in the common crimes of murder, rape, etc, all committed outside the performance of his judicial duties, should still be held accountable in the normal course of criminal justice administration. “So, I salute the rare courage of the justices of the Court of Appeal, who have taken this landmark step to free our nation from dictators and fascists in political garb and I commend the boldness of My Lords, for rescuing the judiciary from the choking harassment of the executive. “Since time does not run

against the prosecution of offences in law, the government can always commence a prosecution against any judicial officer found wanting after the NJC has concluded its own statutory role in the discipline of such judicial officer.� The EFCC had arraigned Justice Nganjiwa for allegedly receiving a total of $260,000 and N8.65m gratification to unlawfully enrich himself as a public official. He was charged on 14 counts before the Lagos State High Court in Igbosere on June 23, 2017. He, however, pleaded not guilty. When the trial commenced before Justice Adedayo Akintoye, the accused raised a preliminary objection. The objection was overruled. He consequently appealed to the Court of Appeal.

LAWYERS WELCOME APPEAL COURT JUDGMENT ON PROSECUTION OF JUDGES consequently struck out the corruption charges filed by the Economic and Financial Crimes Commission (EFCC) against a serving judge of the Federal High Court, Justice Hyeladzira Nganjiwa. The judgment, which has far-reaching consequences, has been the subject of discussion among top lawyers in the country. But EFCC, in its reaction shortly after the ruling on Tuesday, vowed to head to the Supreme Court to upturn the judgment, terming it a dangerous precedent that has no basis in law. However, a former president of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN) who spoke to THISDAY on the issue said the Appeal Court justices had upheld the doctrine of separation of powers. “The court has not said that judges cannot be prosecuted. It has only said that the National Judicial Council (NJC) is constitutionally authorised to make the decision that will lead to their prosecution. “That is the correct position, I entirely agree with that decision. So many Supreme Court cases back it up. “Where a panel is set up to investigate a person constitutionally, that panel will have to first deal with the matter and recommend whatever punishment that is appropriate. “The power to discipline a judge does not rest with the EFCC, the power to prosecute a judge rests with the EFCC upon the recommendation of the NJC. “The judgment absolutely has implications for the separation of powers. The judgment confirms that executive interference in the judiciary will no longer be tolerated. That is what the judgment says,� he explained.

Another past president of the NBA, Chief Wole Olanipekun (SAN) said the judgment had raised new issues. He noted that the judges were now being prosecuted through a procedure hitherto un-witnessed in the annals of the judiciary – the raid of their respective residences by the security agencies. According to Olanipekun, “The issue is recondite. It is novel. It has never happened before. When you weigh all these against the clear provisions of the Constitution as to the roles, the position, the jurisdiction, the powers of the NJC to employ, to discipline, to reprimand, to sanction, to suspend, to promote, to hire and fire judges, then you will see the more recondite nature of the issues involved.� He commended the creativity of the lawyers of the appellant, saying that that is the way it should be. “The law evolves, it is never static. But to my mind, it is an issue that will definitely get to the Supreme Court. Let the Supreme Court have the final say on it.� He also commended the courage of the justices of the Court of Appeal, adding that the judgment was not something that could just be dismissed by the wave of the hand. He urged both the prosecution and the defence to prepare to further argue the case at the Supreme Court. “My advice is let us keep our fingers crossed while we encourage the parties involved to prepare for fireworks at the Supreme Court,� he added. Olanipekun also advised lawyers to stop condemning judgments without reading them. He observed that the Constitution provides for the way and manner through which elected executive officers such

as the president, vice-president, governors and their deputies, as well as members of the legislature, can be removed from office, pointing to the impeachment process for the executive and recall process for lawmakers. Also reacting, Chief Mike Ozekhome (SAN) said the judgment was in tune with the Constitution. According to him, the judgment satisfied the doctrine of separation of powers. He said: “I totally hail the judgment of the Court of Appeal delivered on Tuesday as being jurisprudentially correct, being constitutionally right and meeting the end of justice. “Particularly because it satisfies the hallowed doctrine of separation of powers ably propounded by great philosophers such as Aristotle, Socrates, Plato, Thomas Hobbs, Rousseau, but most ably popularised by the great French philosopher Baron de Montesquieu in 1748 to the effect that there are three arms of government – the legislature, the executive and the judiciary – and that each arm of government is independent in its own realm with checks and balances.� Ozekhome argued that using that doctrine, the Court of Appeal was right to invoke the provisions of Section 158 of the 1999 Constitution dealing with the powers of the NJC to punish erring judges before they are railroaded into the courts for criminal trials. He said: “The power of the EFCC to try any person can be found in the EFCC Establishment Act of 2004. This Act is far inferior to the provisions of the Constitution, which gives the NJC the power and superintendency over judges. “Therefore any conflict between the provisions of

that Act which attempts to try judges who are already subject to a punitive inquisition, and punishment by the NJC, such powers are contrary to the provisions of the Constitution. By virtue of Section 1(3) of the Constitution, the exercise of those powers by EFCC are null and void.� Ozekhome noted that even though he had not read the full judgment, he was convinced that the judgment was right both in content and principle. “The judgment has removed the judiciary from the terrorizing apron strings of the executive that has been using the EFCC and DSS to settle scores with judges that have given judgment against them, thereby intimidating and browbeating the judiciary,� he added. A Lagos lawyer, Ebun-Olu Adegboruwa, further observed that the decision was sound in law and logic in helping to assert the much-desired independence and autonomy of the judiciary. He noted that in recent times, judicial officers had been under mindless attacks by the executive, arising from the expressed disaffection for the third arm of the realm (judiciary) by the president, who is the head of the executive and had stated severally that the judiciary was his headache. Adegboruwa said: “The hallowed democratic principle of separation of powers requires that the three arms of government should be independent of each other but work together for the effective administration of the realm. “In the present dispensation, the executive arm has totally hijacked and captured the legislative and judicial arms, both of which have not been allowed to function effectively and independently as anticipated by the Constitution. “It is therefore a welcome

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COMMENT

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

PUBLIC HEARING ON THE ANTI-NGO BILL Sonnie Ekwowusi argues that the bill lacks merit

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oday the public hearing on the anti-NGO Bill being sponsored by the Deputy Majority Leader of the House of Representatives Hon. Umar Buba Jibril will hold at the House of Representatives. It seems as if Hon. Jibril has vowed not to eat or drink until all the non-governmental organisations (NGOs) and civil society organisations (CSOs) in Nigeria are brought down under his feet. But the mind-boggling questions remain: Quo Vadis, Jibril Umar? Why is Hon. Jibril playing the spoilt card? Who has sold the wrong idea of asphyxiating the NGOs and CSOs in Nigeria in Hon Jibril’s head? What is the future of NG0s and CS0s in Nigeria amid Hon. Jubril’s hatchet job? Under the pretext of getting CSOs and NGOs in Nigeria to fulfill their main objectives and become transparent and accountable in their operations, Hon. Jibril is sponsoring a bill at the House of Representatives aimed at controlling, blackmailing, intimidating, manipulating and asphyxiating NGOs, CSOs, neighbourhood organisations, mosques, churches, charitable organisations, artists, town unions, village assemblies, voluntary organisations and so forth in Nigeria in order to stifle their independence and efficacy in the revitalisation of the society. What is most surprising is that despite the mounting public opposition to the aforesaid bill Hon Jibril has simply refused to withdraw it. Instead of respecting the will of the people and honourably withdrawing the bill, Hon Jibril is adducing arguments rationalising the bill. Power belongs to the people. The government ought to conduct its activities in line with the aspirations of the people. Vox Populi Vox Dei (The voice of the people is the voice of God). Democracy is government of the people by the people and for the people. The American founding fathers aptly recaptured this ageless truth when they said many years ago that, “governments are instituted among men deriving their just powers from the consent of the governed�. By voluntarily entrusting to a few elected people with the responsibility of governing their affairs, the people have not relinquished their power. In short, the people are the repository of political power. But unfortunately most political office holders and lawmakers in Nigeria are yet to come to terms with the fact that those in power should conduct the affairs of government in accordance with the wishes of the people. That is why they treat the people with open contempt and opprobrium. That why a lawmaker like Hon. Jibril can continue to ignore the will of the people and continue to insist that his anti-NGO bill is the best bill he can sponsor at the House of Representatives. He claims that he wants to put order in NGOs and CSOs in Nigeria because some are being used as instruments of fraud. He wants the NGOs and CSOS which have been empowered to operate in Nigeria by the Constitution and the laws of Nigeria to be re-registered under his NGO regulatory commission in order to acquire a new legitimacy to operate in Nigeria. But the Nigerian people trooping to Abuja today to participate in today’s public hearing are telling Hon. Jibril that the combined effects of all the sections of his bill are aimed at emasculating or gagging the operations of NGOs and CSOs in Nigeria in order to stifle their effectiveness. Besides,

JIBRIL’S BILL IS A VIOLATION OF THE RIGHT TO PERSONAL LIBERTY, RIGHT TO PEACEFUL ASSEMBLY AND ASSOCIATION, RIGHT TO PRIVATE AND FAMILY LIFE, RIGHT TO FREEDOM OF THOUGHT, CONSCIENCE AND RELIGION, AND RIGHT TO FREEDOM OF EXPRESSION

by virtue of their registration under the Companies and Allied Matters Act 1990 (CAMA), NGOs and CSOs in Nigeria already possess a legitimacy recognised by law to operate in Nigeria. The same CAMA has also provided for the means of regulating, supervising, coordinating and monitoring the NGOs and CSOs in Nigeria. Therefore NGOs and CSOs in Nigeria do not need to re-register with Hon. Jibri’s NGO regulatory commission in order to acquire a new legitimacy to operate in Nigeria because their legitimacy to operate in Nigeria is implicitly founded under the existing Nigerian law. More importantly, Hon. Jibril’s bill is a violation of the right to personal liberty, right to peaceful assembly and association, right to private and family life, right to freedom of thought, conscience and religion, right to freedom of expression, right to freedom of movement, right to freedom from discrimination of the NGOs, CSOs and their respective operators as enshrined in sections 35, 37, 38, 39, 40, 41 and 42 of our 1999 Constitution. If the government suspects that a particular NGO or CSO working in Nigeria is an instrument of fraud it should set the law in motion against such NGO or CSO. But what the government cannot do is to gag or emasculate CSOs and NGOs in Nigeria under the pretext of regulating them. I foresee Hon. Jibril’s bill suffering a stunning defeat at the House of Representatives. We live in a country in which the government does not render assistance to the poor, the sick, the needy, the sick, the socially-displaced, the abandoned elders, the abandoned widows, the physically-challenged children, the blind, the orphans and so forth. The only institutions and organisations rendering assistance to the poor, the needy and the suffering in Nigeria are the NGOs, CSOs, private orphanages, Motherless Babies Homes, Church, Hospitals and Maternities and Leprous Centres, and so forth. Now Hon. Jibril is sponsoring a bill to kill the aforesaid NGOs, CSOs and private humanitarian institutions bringing hope and succour to countless helpless Nigerians. That is why most lawmakers at the National Assembly are against the bill. According to Senator Shehu Sani “I will stand against this bill to protect and preserve our fundamental rights to freedom of expression and of assembly�. Therefore Hon Jibril’s bill is bound to fail. It is lacks merit. It is a poisonous snake which cannot be amended. You cannot amend a poisonous snake. If you dare try do that it will still bite you. I am embarrassed that we now have a breed of Nigerian politicians unconcerned about the social order. But we are all members of the same human family. God has created us and put us in this world to love and hearken to the needs of our fellow human beings, not to destroy them. Sadly enough, our world is now claiming too many new victims through many man-made disasters and natural disasters. I believe that one day each one of us will be called upon to render an account for what we have done, and may be, more importantly, what we have failed to do in our life time. Therefore we must lend a helping hand to the needy and the suffering in our midst. We must start giving as Michael Jackson is wont to sing. That is the only way to win the human race.

UDOM’S SILENT REVOLUTION

The Akwa Ibom State governor has shown remarkable skills in governance, writes Ken Udo Ekong

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here is a silent revolution going on in Akwa Ibom State. And it centres on development and people empowerment. The recently released midterm report of the President Muhammadu Buhari government most eloquently attests to this. The voluminous report which captured the achievements of the present administration across the nation lent itself to the aphorism that a goldfish has no hiding place. It brought to the fore the laudable landmarks recorded not only by the federal government but also the milestones achieved by the state governments. The report was bipartisan and focused on all state governments irrespective of political parties. What would strike anybody poring through the report is the state of the states. Though Nigeria has 36 states but it is all too obvious that all the states are not equal. By extrapolation, not all the states are as blessed even in leadership as others. This is where the story of Akwa Ibom looms large. A Peoples Democratic Party (PDP) state, it occupies a huge swathe in the development index recorded in the report of an All Progressives Congress (APC) government. About 30 pages of information in the document were devoted to Akwa Ibom State and achievements recorded by Governor Udom Emmanuel. So what? Well, if we consider that some state governors, especially those on the other side of the political divide, had just two pages of achievements over the same period of 30 months, then we would appreciate how remarkable this is. Credit must go to the APC-led federal government and chroniclers of the report for overlooking mundane issues of party affiliation in the compilation of the achievements. But the greater credit should be reserved for Governor Udom who has consistently said that his mission in government is to offer service that engenders development. The truth of the matter is that development is

not partisan, not racist, tribal or discriminatory. Development announces itself and does not need propaganda to push it through. This is evident in Akwa Ibom. Even the opposition parties in the state at the height of their show of political shenanigan do acknowledge that Udom has upped the ante in various aspects of development. Strangely, the governor does not mount the soapbox to mouth his achievements. He does not draw undue attention to himself in showy self-aggrandisement as is customary with Nigerian public office holders. Almost self-effacing, he prefers to take the backseat while allowing his works to speak for him. Many people wonder why Udom does not throw himself into the public arena and make loud noise like the typical Nigerian politician even when he is eminently justified to do so given his stellar performance in a space of barely two-and-a-half years. The answer is historical. History has shown that most outstanding leaders in government, entrepreneurship, social change or otherwise are persons who prefer not to hug the limelight by pulling off stunts and hysterics in the public space but those who silently envision, plan and execute their programmes. They are those who lead by doing, not by talking. Great doers make great leaders. Lee Kuan Yew, the father and architect of modern Singapore alluded to such leadership style in his bestselling memoir, From Third World to First – The Singapore Story. The success stories of nations or any people never happened by accident. They happened because at a point in their history somebody decided to lead by doing not by a show of oratorical sophistry. The late Shimon Peres is today regarded as the Father of Innovative Israel. Loathed and loved depending on which side of the divide you are, but even among his staunchest critics, nobody denies his voluble appetite to break new frontiers. His energy, optimism

and inquisitiveness translated to the birthing of a new generation of innovative Jewish nation. Recall that as prime minister in 1985, Peres presided over an economic stabilisation plan which led to the birth of Israel’s modern economy. Today, Israel, a land without natural resources, is described as a ‘startup nation’ because Peres fostered an entrepreneurial culture among the people. “All my life I have worked to ensure that Israel’s future is based on science and technology as well as on an unwavering moral commitment,� Peres once said in a speech when he laid the cornerstone for the Israeli Innovation Centre in Jaffa. “They called me a dreamer. But today, when I look at Israel, we all can see clearly that the greater the dream, the more spectacular the results.� Without his admitting it, this is the kind of momentum driving Udom. He is a dreamer in the mould of Peres. He is an awakener of the docile mob. He believes that anything is possible, that any height is attainable. Since arriving at Government House in Uyo, he has rallied the spirit of the people to dare, to believe and to conquer. Is it any wonder that Akwa Ibom has not only become the nation’s Mecca of sports but is the home of trophy-winning Akwa United football club? Are we surprised that Akwa Ibom has attracted the highest volume of foreign direct investment (FDI), next only to Lagos State in Nigeria? The National Bureau of Statistics (NBS) says so. Deploying the Dakkada (Rise up) philosophy, Udom is building a modern economy in Akwa Ibom State which centres on agriculture, tourism, improved standard and quality of education, a culture of ICT application and innovation, improved power delivery at a time the rest of the country wobbles in gross darkness, and above all, a strong drive at industrialisation. At a time other states are still at a crossroads over salary and gratuities,

Akwa Ibom is diversifying its local economy from dependence on oil proceeds from Abuja to agriculture, industrialisation and birthing of a knowledge economy. Governor Udom’s leadership style mirrors the template of great leaders across the globe. It is the leadership that sees opportunity in every adversity; that breaks new frontiers and turns vision into reality. It is a leadership that is silent but effective. Nigeria has had a sordid history of poor leadership typified by noise-makers, lawless military goons and a ravaging political mob. This has left the nation tethered to the manacles of underdevelopment such that 57 years after independence, our actions are still governed by such medieval creeds like quota system, ethnic considerations and religion. Worst of it all, Nigeria has remained a nation of immense potential and a poster-child for everything wrong with the black race especially in the aspect of leadership. This is why Governor Udom’s leadership style provides a redemptive window for a nation that has been mired in the stasis of administrative despair. A good leader is a dealer in hope. Every good leader must at all times give hope to the people. This is where Udom towers above the class. He has given hope to his people by providing them opportunities. Democracy, Reverend Jesse Jackson once said, does not guarantee success but it guarantees opportunity. Udom’s focus on effective and affordable healthcare, infrastructural development and quality education will ultimately engender a broad spectrum of opportunities for his people. This is what good leadership is all about. Asian leaders are adept at it; they start by giving hope to their people, shifting their mind from probability to possibility. Udom has shown that good leadership is possible in Nigeria. He will do well to stay the course. Ekong wrote from Uyo

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EDITORIAL FUEL SCARCITY IN FESTIVE SEASONS The downstream sector of the petroleum industry should be managed transparently

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ess than two weeks to Christmas, there seems to be no solution in sight to the problem of long queues which recently returned to fuel stations across the country. This is despite the recent presidential directive to the Ministry of Petroleum and the Nigerian National Petroleum Corporation (NNPC) to arrest the situation. But it is obvious that the timing of this scarcity was designed by the perpetrators to maximise their illicit gains since it is a well-known fact that the Christmas and New Year season always witness major movement of people, goods and services. We note particularly that the independent marketers association had earlier threatened to withdraw their services due to alleged breach of bulk purchase agreement with NNPC. The group had accused the corporation of selling fuel to it above the bulk price of N133.28k per litre, an allegation the NNPC denied. Whatever may be the reason for the scarcity, the agony of people having to spend hours at fuel stations can only THE GOVERNMENT MUST be imagined, especially at this MUSTER THE REQUISITE most critical period COURAGE TO OVERHAUL THE DOWNSTREAM SECTOR of the year. The question OF THE PETROLEUM that arises out of INDUSTRY the current situation is whether Nigerians would ever see an end to the perennial scarcity that has come to deďŹ ne the management of the downstream sector of the petroleum industry. It is an issue that should worry the current administration, especially since there seems to be no coherent policy in place to deal with the issue in a holistic and lasting manner. Going forward, there are a number of things that would need to be done, beginning with selling off the ill-maintained reďŹ neries that have become huge drain on scarce resources. Over the years, these reďŹ neries have continued to fail in terms of satisfying the essence of their establishment, given that the

Letters to the Editor

importation of petroleum products has become a major and running routine in the economic management of the country. The reason, as often adduced by the industry experts, is that the reďŹ neries have either all broken down due to poor maintenance culture or that the installed production capacity cannot meet the ever-growing local demand for petroleum products.

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hile it makes no sense that Nigeria continues to import ďŹ nished petroleum products at huge cost to the economy, experience has also shown that the government is not adept in the efďŹ cient management of businesses. If anything, the tales of corruption, ineptitude, sabotage and other sharp practices in the oil and gas industry have continued to conďŹ rm this widely held opinion. That is why we believe that the proposed idea of spending hundreds of billions of naira on the turn around maintenance (TAM) of these moribund reďŹ neries is tantamount to throwing scarce resources down the drain. What President Muhammadu Buhari and his administration must therefore realise is that as long as the subsidy remains, the incentive for private and public actors to game the system will continue to be there. Also, as long as there is default in subsidy payment, which is not inconceivable given the current state of our ďŹ nances, supply will be constrained, which necessarily pushes pump price many times above the market price, with serious impact on cost and volume of production in the economy and untold hardship on the populace, especially the poor. Whatever may be the challenges, it is our considered view that something has to be done to end the fuel scarcity, especially as we move towards the Christmas and new year holiday season. But as a permanent solution, the federal government must muster the requisite courage to overhaul the downstream sector of the petroleum industry which goes beyond periodic hikes in the pump price of PMS. The sector has to be more accountable, transparent and efďŹ cient.

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.

EXERCISE AS ANTIDOTE TO HEART ATTACK

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ike every well meaning citizen, I am alarmed by the growing spate of sudden deaths in recent times. We used to think that these deaths, caused by heart failure, or cardiac arrest was peculiar to the rich, and it actually seemed at a point in history that it was a disease of affluent western nations. We now know that simple, routing daily exercise can prevent these deaths. The perception that heart attack is an executive disease has now changed because of the widely reported cases of sudden deaths that have become a daily feature in the local media. This is a wake-up call for all stakeholders in the health care industry to take proactive action against the world’s deadliest serial killer before it becomes an epidemic. Lack of exercise, poor dietary habits, damaging life style involving hard drinking, smoking, lack of rest, etc., have been advanced as reasons for the increasing cases of sudden deaths which come by way of otherwise healthy people collapsing suddenly and dying within seconds without prior symptoms of illness. I operate in the fitness segment of the health industry and my detailed study of this disturbing trend shows clearly that prevention is truly better than cure. This old maxim holds true today more than ever because, of all the possible causes of sudden deaths, fitness related issues are major. This is a universally

accepted fact, beyond dispute or controversy. First, let’s get this clear in the proper context. You can be fit without being healthy. Fitness speaks of being in the right physical condition for an activity, while being healthy depicts a clean bill of health in a given period. This is often confused with what exercise does for you. Exercise tunes up your system and ensures that your heart pumps blood to all parts of your body; boost your intake of oxygen and opens up your veins. Even blocked articles, a major cause of cardiac arrest, open up while you exercise. Exercise burns up your bad cholesterol, and generally eliminates fats and waste from the body. While running or road walk is ideal, the obvious dangers of being hit by reckless drivers or threatened by kidnappers are real safety concerns that tend to discourage physical exercise on the streets nowadays. Thankfully, we now have diverse exercise equipment that are suitable for different physical activities in the exercise regimen. The beauty of exercise equipment is that you can use them in the comfort of your home. Also aerobics instructors are available to guide the elderly who have delicate physical constitution due to old age or degenerative diseases like arthritis, backaches, and other peculiar challenges requiring special equipment. Those who are physically challenged by stroke, accident or congenital diseases of a special nature, can use purpose built

exercise equipment for physiotherapy under the guidance of those trained in human kinetics. I do counsel people to consult the experts if they need special help to deal with a peculiar physical challenge. You will get the right equipment to address your problem if orthodox medicine is not applicable. There are those who choose to go to native bone-setters or other trado-medical practitioners for help. While I do not condemn such options outright, it is best to apply the latest technology with proven efficiency and international certification in dealing with special physical challenges. Even in a relatively new field like sports medicine, injured athletes now use exercise equipment like the treadmill to regain fitness after being sidelined by injuries. I recommend exercise equipment for everyone to stay healthy and prevent the obvious threat of unexpected health complications that often lead to sudden deaths. Much more than anything else, regular exercise, particularly, using the treadmill, is the cheapest and most convenient option for exercise now available; it is better you avail yourself of it. You can get more detailed information from the internet on the various modern equipment you may require to tackle issues like obesity, for instance. Regular daily exercise of about one hour can save you thousands of naira on medicament, The earlier you realise this, the better for you. Goodluck Obi, goodlucketomobi@yahoo.com.

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T H I S D AY WEDNESDAY DECEMBER 13, 2017

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T H I S D AY ˾ WEDNESDAY, DECEMBER 13, 2017

MIDWEEKPOLITICS

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

NEWSMAKERS

For Secondus to Succeed

The expectation of many members of the Peoples Democratic Party is that no matter the disagreement arising from the national convention, the interest of party should be paramount, writes Davidson Iriekpen

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t is longer news that a former acting National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, has emerged as the new chairman of the party. Secondus defeated all the aspirants who contested the coveted position with him last weekend in Abuja. The chairman of the electoral committee of the convention, and former Governor of Benue State, Gabriel Suswam, who announced the results, said the new chairman scored a total of 2,000 votes out of the total number of 2,296 votes cast. He was followed by a former Minister of Education, Tunde Adeniran, who scored a total vote of 231 votes, while the duo of Raymond Dokpesi and Taoheed Adedoja scored 66 and 0 votes respectively. Secondus was said to have received strong backing of the 11 governors elected on the platform of the party. A member of the party from the north said “the northern caucus apart from Prof. Jerry Gana and Senator Ibrahim Mantu decided to support Secondus because he was the toast of the governors and the majority members of the party.” Those who contested against him but lost were Dokpesi, Adeniran and Adedoja. Others contestants, apart from Chief Olabode George, announced their withdrawal from the race shortly before the commencement of the exercise. George said last Friday at a press briefing that he was withdrawing due to the refusal of the party to micro-zone the office of the national chairman to the South-west. The party had zoned the office to the entire southern part of the country, while it also ceded the presidential ticket to the northern region. However, while there were seven aspirants from the South-west zone, only two showed interest from the South-south. Others from the South-west included Senator Rashidi Ladoja, Chief Gbenga Daniel, Mr. Jimi Agbaje and Aderemi Olusegun. All the aspirants except Ladoja, Dokpesi and Secondus eventually contested the election. Before voting commenced, Dokpesi and Adeniran had protested, saying the processes were skewed against them, but in favour of Secondus. Dokpesi told journalists covering the convention that he complained about the circulation of a document referred to as “unity list” to delegates asking them to vote for the people on the list. He said the chairman of the electoral sub-committee of the convention, Suswam, told him that there was nothing he could do about his complaint. On his part, Adeniran, through his spokesperson, Akeju, called for the cancellation of the entire exercise because it was compromised. He said: “We reject the entire electoral process of December 9, 2017. The election was grossly compromised to achieve a pre-determined end in line with the illegal ‘unity list’ prepared by Rivers State Governor, Nyesom Wike and and his Ekiti State counterpart, Ayodele Fayose and foisted on the entire delegates. Consequently, we submit that this election is a sham and its result is unacceptable. We reject it in its entirety. We consider this so-called election as a travesty of democracy and due process, which further entrenches the culture of impunity that has done a great damage to the party in the past.” The questions many observers are asking are: Among the aspirants, is Secondus the best? Would a South-west candidate have helped the party? While many party faithful in the South-west had urged stakeholders to ensure a candidate from the region emerge as the national chairman for the first time to avoid the death of the party in the zone, others felt that since the position was zoned to the entire south, it was proper to allow others to contest especially since the South-south and South-east which have more

Secondus

states. They felt that the party needs a zone where it is very strong and where there is no crisis and later woo the South-west with political appointments. Many analysts have wondered if Bode George would have been able to win Lagos or any part of the South-west for the party in 2019. Or can Gbenga Daniel win Ogun State? Even Adeniran who was in the race, did not get the blessing of his governor, Fayose who has already declared for the presidency, thereby messing up his chances. This fact, was alluded to by the Rivers State Governor, Nyesom Wike, who attempted to analyse the true permutation of the party while giving reasons for his support for Secondus. Wike in a statement issued by his special assistant on electronic media, Mr. Simeon Nwakaudu, said Secondus was the only candidate from a state governed by the PDP; a statement apparently made in recognition of the fact that Rivers state is in full control of the PDP, while in Ekiti State, a PDP-governed state where Adeniran hails from, Governor Ayo Fayose, whose tenure ends in 2018, is even now presently embroiled in his own presidential campaign bid, prosecuted

Many analysts have wondered if Bode George would have been able to win Lagos or any part of the South-west for the

against the backdrop of a bitter succession battle which has already reportedly pitched him against some powerful interests in the party. Wike, who confirmed that he also resigned his membership of the National Convention Planning Committee because he wanted to focus on the campaign for the emergence of Secondus as national chairman, extolled the virtues of Secondus, describing him as a decent, scandal-free and loyal party man, who would build bridges of unity across all the divides of the PDP. “Secondus has never said anything negative against any other candidate. He has remained focused on his campaign. He has no existing problems with the EFCC contrary to petitions against him. Somebody who believes that he will win, will not resort to writing petitions before the convention. All reports in the media against Secondus are planted and false,” Wike said emphatically. Wike equally noted that while all the zones were relevant in the rebuilding process of the party, the South-south zone remains the bedrock of the PDP, even as he highlighted the conflicts of ego and interests in the other zones, especially the South-west, as key factors that will and has continued to undermine their contributions to the growth of the PDP. “National Chairmanship in the South-west will not change the fortunes of the PDP. Even when the president hailed from the South-west, the fortunes of the party did not improve in terms of votes in that zone. The zone is prone to incessant crises as can be seen. Any candidate who emerges from the South-west will lead to

further crisis from other factions from that zone. “Only a candidate from outside the South-west such as Secondus can unite the zone. He has the reach and capacity to unite all factions in the South-west. He is the person suited for the party at this time. After the convention, PDP will come out stronger. It will come out refreshed and re-positioned for the good of the country,” Wike enthused. The Rivers State governor also spoke on the issue of micro zoning the chairmanship, which had been mooted and had favoured the South-west in the earlier botched conventions, noting that events had already overtaken that arrangement, the decision of the party to zone the chairmanship to the south and presidency to the north still stood and superseded all other considerations. Wike gave the analysis thus: “The issue of micro-zoning and gentleman’s agreement does not arise. There is nothing like that. The so-called micro-zoning is being floated by a presidential aspirant from the north supported by the campaign officials of Adeniran. The 2019 presidential ticket was zoned to the north while the party’s national chairmanship was zoned to the South,” he said with clear emphasis. He further alleged that some PDP national chairmanship aspirants had resorted to blackmail, simply because they have lost the support of the delegates. “Anybody who believes in PDP will work for the party after the national convention, whether or not you emerge. You will do otherwise when you are controlled by external forces. No right thinking party member will resort to issuance of threats,” he noted. Corroborating Wike’s position, a group in the South-west, Oodua PDP Alliance, described Secondus as the best man for the job. It said the Rivers State politician as “tested, experienced and competent to lead the party. In a statement signed by the leader of the group who is also a leader of PDP in Osun State, Hon Hakeem Ogunsola, the group affirmed that South-west has proved its unpreparedness for the party leadership, affirming that Secondus was best for the job at this stage. “How can you hope to lead the party when your zone is not a stronghold of the PDP? How can you even be taken seriously when many of your aspirants carry heavy baggage? We don’t want party chairman in South-west. Secondus has party leadership experience nobody can rival. He has the boldness, the national recognition, the will and the passion to pilot the affairs of the party. He is the best to lead the party at this critical times,” the statement concluded. With the convention over, many members of the party feel that for Secondus to succeed, he has to make good his promise of reaching to all those who are aggrieved individually and collectively for the party to move forward, adding that a house divided against itself cannot stand. They also submitted that no matter the disagreement, the expectation is that the party weans itself off internal wrangling and be in a position to play its role as a viable opposition party in the country. Incidentally, one of the candidates in the election, Dokpesi, has congratulated Secondus, which to many observers, is a good example of his sportsmanship. The ball is now in the new chairman’s court to bring all aggrieved members of the party under its umbrella in order to pursue its agenda of taking power from the All Progressives Congress (APC) in 2019. For Fayose, all those who contested the election and lost should accept defeat in good faith. He said: “Anyone who will contest the result of this election at the court of law is an enemy of the party. It is not good to be a bad loser. If you did not win, just take it in good faith and support the winner”

T H I S D AY ˾ WEDNESDAY, DECEMBER 13, 2017

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PERSPECTIVE

MIDWEEKPOLITICS

Let the NDDC Be The explanation by the federal government that the appointment of the current Governing Board of the Niger Delta Development Commission is not a continuation of the sacked board has laid to rest any controversies surrounding the appointment, writes Michael Jegede

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otwithstanding the lucid explanation given by the federal government, in denying an alleged extension of the tenure of the current Governing Board of Niger Delta Development Commission, NDDC, the needless raging hullabaloo over the issue has persisted. Some individuals and groups are threatening a showdown with FG, if the present NDDC board inaugurated in November last year is not dissolved this December, for a new board to be constituted to enable the key positions move to other states of the Niger Delta. Their argument is erroneously based on the rotation provided for in the enabling Act of the agency. The Chairman of the current board is Senator Victor Ndoma-Egba, while Mr. Nsima Ekere is the Managing Director (MD) of the commission. Ndoma-Egba and Ekere are from Cross River State and Akwa-Ibom State respectively. At the forefront of the call for the termination of the current NDDC board tenure are indigenes of Bayelsa State who are expecting one of them to be appointed the MD of the interventionist agency by this December. They are insisting that the present board cannot stay beyond this month as, according to them, it was constituted to complete the tenure of the previous one which was in place for two years before it was dissolved in December 2015. The Ijaw Youth Council (IYC) seems to be leading the agitation. About a month ago, Senator Emmanuel Paulker, in a motion he moved on the floor of the Senate, declared that contrary to the clear provisions of the NDDC Act, the tenure of the present board of the commission had been illegally extended to four years by the immediate past Acting Secretary to Government of the Federation, SGF, Dr. Habiba Muda Lawal. The Senator, representing Bayelsa Central Senatorial District on the platform of Peoples Democratic Party (PDP), argued that by the prescription of section 5(2) of the NDDC Act, the present board led by Ndoma-Egba (SAN), is to serve out the remainder of the term of the previous board headed by Senator Bassey Ewa-Henshaw, which ought to expire in December 2017. However, reacting swiftly to the alarm raised by Paulker, the new SGF, Boss Mustapha, in a letter signed by Dayo Apata, a permanent secretary and Solicitor General of the Federation, said that the Ndoma-Egba chaired board was not a continuation of the sacked one led by Ewa-Henshaw. According to the letter, “Section 5(2) of the act refers to a situation where a vacancy occurs as a result of any of the provisions of section 5(1) of the act as opposed to when the entire board is dissolved. In this case, the previous board was dissolved and its tenure extinguished. “Dissolution of the board cannot be categorized as a vacancy under the act. Dissolution signifies total extinguishment of the board, it simply ceases to exist and there cannot be any remainder of any term which a successor is expected to complete. “There has to be a fresh composition of the board for a fresh term of four years. Therefore the letters of appointment stating that they were to complete the remainder of the tenure of the previous board is of no effect as the words in a letter cannot override the express provisions of an act”. The clarification by the SGF was in line with the legal opinion of the Minister of Justice and Attorney General of Federation (AGF), Abubakar Malami, SAN, earlier conveyed in a letter also signed by Apata. The letter containing the AGF’s opinion indicated that “the inauguration of the present NDDC board is a fresh tenure as

Ekere

contemplated by section 3(1), that is, a term of four years which is subject to renewal”. Section 3(1) of the NDDC Act stipulates that “subject to the provision of Section 4 of this Act a member of the Board, other than an ex-officio member shall hold office for a term of four years in the first instance and may be re-appointed for a further term of four years and no more.” The clear and sound explanation from the office of the SGF may have been the reason why the Senate had mellowed down on its probe action that was to be instituted after the Bayelsa Senator brought the matter up for debate. The way the Senate leadership handled Paulker’s motion gave the indication that the Red Chamber was determined to support the present NDDC leadership in its commitment to reinvent, transform and reposition the commission for better performance. Zonal Organizing Secretary of the All Progressives Congress (APC) South-South zone, Paul Obi, had said the clarification made by the presidency regarding the NDDC board tenure was a sweet relief to the initial fear that the “performing board” may be dissolved over “flimsy political antics”. Obi in a statement reasoned: “It would have been an unfortunate incident that this performing board and management led by men of high managerial and development conscious mindset would be hurried out of office for mere and flimsy political antics foisted by some agents of retrogression.” Dr. Sandy Onor, a former Commissioner for Agriculture in Cross River State, equally

This is a brand new board, set up by a brand new government and it should be allowed to run its course

wondered why anybody would be asking President Muhammadu Buhari to abruptly dissolve a board he constituted that has existed for only about a year, even when it is living up to expectation and still has three years for its tenure to expire in accordance with the law. He said: “I completely agree with the legal opinion that the tenure of the current NDDC board has not expired. It is a totally new board; the old board has ceased to exist. This is a brand new board that should have its own tenure according to law. Victor NdomaEgba is a technocrat of no mean repute and he has solid credentials for performance. He, combining with Nsima Ekere, I think they are doing a brilliant job. The former board was constituted by a government that is not even an APC government. So, what is the hullabaloo about this board completing the tenure of the preceding board? It’s illogical. It doesn’t make sense. It doesn’t add up. This is a brand new board, set up by a brand new government and it should be allowed to run its course. The issues of positions rotating would inevitably occur when the board runs its tenure. Those seeking to cut short the tenure of the present board should be a bit more patient. It is a matter of time. Their time will come and they will take their due.” Onor continued: “It is unfortunate that Nigerians see every opportunity as a cake which should be shared. But we must move from that mentality and begin to applaud performance when we see it. This board is performing maximally and it should be allowed to finish its term, no more, no less! The issue of tenure elongation does not arise at all. After all, there was a caretaker committee headed by an acting MD before this board was inaugurated that spent almost one year one after the previous board was dissolved. Is the period spent by the acting MD appointed after the last board was dissolved also part of the tenure of the present board? You can just see the illogicality in the argument of those saying the tenure of the current board should end in this December,

just one year after it was constituted on its own merit”. The Niger Delta Youths under the auspices of Youth Initiative for Education, Development and Empowerment of Niger Delta, condemned the call for the dissolution of the Ndoma-Egba headed board. Urging P Buhari to ignore calls capable of balkanizing the nation by vested interests, the leader of the youth group, Amb. Agbonkpolor Splendour, at a media conference held in Abuja, said: “Those detractors, who are attempting to subvert the gains of change in the region, should desist from setting the region back. Leaders of the region like Timipre Sylva and Sen. Heineken Lokpobiri should cooperate with the current management for the progress of the region, rather than throwing spanner in the works of President Buhari towards a better Nigeria”. Splendour added: “If the duo were loyal party members and altruistic, they should have realised that the present NDDC Board did not meet any board members on ground, rather the one they succeeded was set up by the former administration of the Peoples Democratic Party (PDP) government and was appropriately dissolved when the All Progressives Congress (APC) took over. So for any individual or group of individuals out of desperation continue to stoke the embers of conflict and pandering falsehood over the tenure of the present board of the NDDC is unhelpful and begs the question on the real issues of development in the region”. A public affairs analyst resident in Port Harcourt, Princewill Finebone, while accusing those behind the pointless clamour for the disbandment of the Ndoma-Egba led NDDC board of playing the Ijaw card, noted that “It is sad that the unruly politics of the assumed owners of the Niger Delta is rearing its ugly head at this time, as some elements from that geographical area are threatening to let hell loose if their wishes are not met. We hope the government will not succumb to this simmering blackmail and remove an administration that is performing very well in office, through the execution of meaningful projects that touch on the lives of the people. The ordinary people of the area are more interested in development projects that will alleviate their debilitating economic circumstances and which the present management has proved competent in providing.” A Warri-based legal pundit, Barrister Jesutega Onokpasa, described those insisting that the tenure of the existing board of NDDC should expire by December 2017 as “rabble-rousers and rascally elements” who intend to unilaterally rewrite the enabling law for the National Assembly. In an open letter to the Senate President, Onokpasa, wrote: “In fact, contrary to what the rather rascally elements who are already arrogantly accusing the President of corruption if the board is not dissolved in December are calling for, it is actually dissolving the board in December that would constitute a monumental illegality since there is simply no mechanism in the enabling law of the NDDC vide which the tenure of a fresh board could be so abridged. In any case, even assuming, without conceding, that the present board, despite its clear fresh mandate and lack of any nexus whatsoever with the previous board, is nevertheless extraordinarily completing the tenure of that board, how can its tenure be deemed to expire this December when there was a Sole Administrator from Rivers State who served quite a while and comes from a state other than that of the sacked or present Managing Director? Jegede wrote in from Abuja

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FEATURES

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

The Sugar Daddy Syndrome Is intergenerational sex destroying a generation? Asks Solomon Elusoji

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ast September, a 40-year-old man from Gawa Village in Kastina, was arraigned before a Senior Magistrate Court for allegedly impregnating his neighbour’s 15-year-old daughter. Idris is not a lone ranger. Virtually every day, the Nigerian media is awash with sordid tales of older men seeking warmth between the thighs of younger women, sometimes through rape. However, there is also a flip side: younger women seeking the attention of older men, who mostly tend to be economically buoyant than their younger counterparts. “They have what I want, and I have what they need, so the relationship is a very rational one,� a 23-year-old fresh female graduate of Law, who craved anonymity, told this reporter. But the macroeconomics is not that straight forward, according to one woman who is on a campaign to end inter-generational sex – the kind of intercourse that involves young women and older men – which she credits as a major avenue for HIV transmission on the African continent. Sandra Omo is an ex-beauty queen and actress with lush ebony skin and a voice poised with conviction. Now, away from the runway and camera lights, she is in charge of a non-profit, Safe Love International (SLI). According to SLI’s mission statement on its website, it was set up to “educate, empower and inspire youths� and “pays special attention to the girl child� because she is the one who is most “disadvantaged� in most societies and cultures across the world. “We began to find out that the rate of HIV infection among young girls between the ages of 15 to 19 and 20 to 24 is so high,� she told this reporter one sunny afternoon in Lagos, last September. This was a piece of statistics, she said, that did not just reflect the Nigerian situation, but all of sub-Saharan Africa. “In some parts of Africa, it was as high as 22 per cent,� she explained, “while for boys in that same age bracket it was four per cent.�

Ms Omo speaking to young girls about the dangers of Sugar Daddies

What the statistics suggest The national median age at sexual debut for adolescent girls and boys in Nigeria is between 15 and 16 years of age, a World Bank report published in 2016 said. However, while adolescent’s knowledge of contraception has increased over the years, access to health services remains limited due to factors such as fear of stigma, embarrassment, and poor access to the right education. These kinds of conditions favour the spread of HIV and young women have been the major victims. It is estimated that 2.6 million people in Nigeria are infected with HIV and a large knowledge-behaviour gap still exists, especially among adolescents. But the catch is that the virus is more prevalent among young women than their male counterparts.

Violating the innocence of young girls in Nigeria is a worrisome trend and it is worse in the country’s Northern region where one in every three girls will become pregnant before they ďŹ nish secondary school, according to the National Population Commission

By educating school children, Ms Omo believes she can end the Sugar Daddy phenomenon

A 2013 UNAIDS report noted that HIV prevalence among women 15 – 24 years old is estimated at 1.3 per cent compared to 0.7 per cent for men of similar age. Of concern is a large knowledge-behaviour gap regarding condom use for HIV prevention. While about 50 per cent of young women are aware that using a condom in every intercourse prevents HIV, only seven per

cent of them report having used a condom at their last intercourse. There are a variety of reasons why girls are disadvantaged. While secondary school enrolment was pegged at 54 per cent at the beginning of this decade, evidence indicates that 45 per cent of girls drop out before they graduate, compared to 31 per cent of boys, a UNICEF study revealed. This is associated with multiple factors, including

poverty, absence of support systems, poor opportunities, and early marriage, especially for girls. Under the Child Rights Act of 2003, the legal age for marriage in Nigeria is 18 years. However, under parallel systems – customary and Islamic – that also operate in the country, marriage can take place at earlier ages. There is also a regional angle to the syndrome, since poverty is a huge contributor.

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FEATURES

Ms Omo is an ex-beauty queen

Poverty estimates show that only 16 per cent of the population in the South-west occupy the poverty zone, compared to 50 per cent in the North-east. A World Bank study in 2014 also revealed that while poverty has been declining in the Southern areas and North-central, it has in fact increased in the North-east and remains stagnant in the North-west. Stopping the Sugar Daddies Omo, who has interfaced extensively with the National Agency for the Control of AIDS (NACA) and UNICEF, is convinced that young women do not contact HIV from their male peers but from older men, the Sugar Daddies, who take advantage of their youth. Sugar Daddies are not necessarily people with flashy cars who drive into university campuses to tempt schoolgirls, “for the little girl in the village, it might be the guy who has a kiosk and is giving her biscuits,� Omo said. Now, Omo, partnering with D-Prize and the Abdul Latif Jameel Poverty Action Lab (J-PAL), is attempting to combat the scourge through a programme that educates students about the menace of Sugar Daddies. “Our programme – ‘No Sugar Daddy, Bright Future’ – is an expose that takes the realities of HIV in the country to girls and boys in secondary school,� Omo said. The programme, which was launched in Nigeria this year, has been run in Botswana, Kenya, Rwanda, South Africa, Cameroon, countries also beleaguered with the Sugar Daddy Syndrome, and has recorded remarkable success. J-PAL, which is domiciled at the MIT Department of Economics, in a policy paper published in February 2007, noted that warning girls to avoid Sugar Daddies was probably the cheapest and most effective way of reducing HIV prevalence. “For just 80 cents per student, students can be warned about the high prevalence rates of older men, and the evidence shows they will respond by dramatically reducing the number of teenage childbirths with older men,� the paper said. “One such childbirth — with all the dangers that such behavior involves—can be prevented for just US$91.� Omo is confident the programme will also succeed in Nigeria. She told this reporter in September: “Abuja is the pilot city. We

Teenage mothers are common in many parts of Africa

are in the phase one of the project. We just obtained an approval from the Secondary Education Board in Abuja to reach every government school, that is over 64,000 students. We are in the implementation month. We go to schools, teach them and show them HIV statistics in the country by age, and then we explain how it is possible, through statistics, that HIV is trickling down from older men to young girls. “After Abuja, we want to go to Port-Harcourt because it is the city with the highest rate of HIV infection in the country. Abuja is number five. Lagos is far down the line because of the education, the awareness there. Our goal is to be able to reach one million students within two years.� For the passion Sandra Omo is not a woman with an angry disposition, but when she gets on about female empowerment, her face lights up like lightening in the middle of a storm. “I was raised in a family of strong women,� she said. Growing up in Benin-city with her

In Nigeria, a lot of people live in denial. They think HIV is something that is so far or something that will never happen to them. They don’t understand that it is so close, if you take statistics into consideration. So we will go on to teach young girls how to recognise when an older man is preying on you for sex and what to do about it

grandmother – Master Esther Osaigbovo – who rose from being sold into sexual slavery into one of the most influential people in Edo State, inspired her to empower disadvantaged girls. “You could never tell she had such a dark background,â€? Omo said, speaking of her grandmother. “Despite not going to school, she was able to speak about six different languages by the time she passed on. She is my biggest trigger.â€? Omo’s second biggest trigger is Vesicovaginal fistula (VVF), a medical condition that causes continuous, involuntary discharge of urine from the vagina. It is common among underage girls who get pregnant since their usual prolonged labour presses the unborn child tightly against the pelvis, cutting off blood flow to the vesicovaginal wall. When she was a teenager, Omo saw a movie about VVF and it marked her conscience. “A lot of young girls are suffering through this,â€? she said. After the end of her secondary education in Benin-city, Omo moved to London to study International Relations at Schiller International University. “I wanted to be a diplomat." But by the time she finished her degree, the modelling world had her in its fluffy embrace. For five years, she travelled round the world posing for the cameras. She was the first black girl to win the prestigious face of Brighton modelling competition in the UK. In 2008, she became the first Nigerian in Diaspora to return home and win the Most Beautiful Girl in Nigeria (MBGN) crown. In 2010, she was named Nigeria’s most outstanding model by the Nigerian Models Achievers Award. In 2010, she added acting to her portfolio and was featured in the highly acclaimed PBS America TV series, ‘Secrets of the Dead: Slave Ship Mutiny’. The film was nominated for an Oscar. In 2012, she decided to take a break from modelling and acting to study for her Masters. “I did not want to end up marrying an old man just to pay my bills,â€? she joked. Within two years, she acquired a Masters Degree in International Business Management at the University of Economics, Prague and an MBA from the UniversitĂŠ Jean Moulin in France. Then she returned to her two old loves before landing a role as an Online Marketing Channel Manager at Rocket Internet AG in Paris.

But, she still felt there was something missing. “I kept telling myself, with all the education I had garnered, why was I not running an organisation that would make an impact on the issues I am passionate about?� In 2015, she quit her job and enrolled for a diploma course on Social Entrepreneurship at the Copenhagen Business School. After the course, she moved back to Nigeria and started SLI. “A lot of people were frustrated that I had decided to go into nonprofit work,� she said. But she was unperturbed. “I am very passionate about young girls, but I had to be tough� to shield herself from the troubling aspersions. Around the same time she started SLI, she came across the US-based D-Prize’s Sugar Daddy Awareness Campaign and decided to apply. In 2016, SLI was among the winners. “In its pilot, Safe Love International will Scale the Sugar Daddy Awareness Class to over 15,000 youths in Nigeria,� the D-Prize’s grant memo said. The Jericho ahead The big challenge for Omo has been the cultural response. “The problem is meeting people who don’t care about these things,� she said. “How can you blame a 13-year-old girl for seducing a grown up man?� Violating the innocence of young girls in Nigeria is a worrisome trend and it is worse in the country’s Northern region where one in every three girls will become pregnant before they finish secondary school, according to the National Population Commission. As at 2013, the National HIV/AIDS and Reproductive Health Survey showed that 73 per cent of girls aged 13 to 19 in North-east Nigeria were married. There is no evidence that there has been a positive change in these statistics and Omo is worried that intergenerational sex might be destroying a generation. “The number one thing you can do to change anything is to not be quiet about it,� she said. “In Nigeria, a lot of people live in denial. They think HIV is something that is so far or something that will never happen to them. They don’t understand that it is so close, if you take statistics into consideration. So we will go on to teach young girls how to recognise when an older man is preying on you for sex and what to do about it.�

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IMAGES

L-R: Managing Director, Intra-African Trade, Afreximbank, Kanayo Awani; Executive Director, NEXIM Bank, Stella Okotete; Manager, Legal Services, AfreximBank, Engage Kameni; Chief Executive OďŹƒcer, Factoring & Supply Chain Finance Ltd, Lanre Bakare, and Factors Chain International (FCI),Secretary General, Peter Mulroy, during their visit to the National Assembly in Abuja...recently

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Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

Director of Schools,Pace Setters College, Kate Imansuagbon(left); Chairman, Pace Setters College,Kenneth Imansuagbon and Children during a Christmas outreach/visit from Pacesetters College to the IDP in Abuja...recentlyy

L-R; Head, Corporate Lending, First City Monument Bank (FCMB), Mrs. Ore Segun-Fatuberu; Group Head, Energy of the Bank, Mrs. Ronke Jibodu; Divisional Head Corporate Banking of the Bank, Mrs. Folake Fajemisin; Chairman and Chief Executive of Petrolex Oil and Gas Limited, Mr. Segun Adebutu and Managing Director of FCMB, Mr. Adam Nuru, during the commissioning ceremony of Petrolex’s 300 million-litre capacity tank farm ďŹ nanced by the Bank in Ibefun, Ogun state...Tuesday

L-R: Head of School, RiverBank School, Regina Jemide; receiving the certiďŹ cation plaque from CEO, Wowbii Interactive, Terae Onyeje and Managing Director, Equipment Hall, Gbolahan Olayemi, during the formal certiďŹ cation of RiverBank School as a BuddZone, interactive learning environment, by Wowbii interactive, in Lagos recently KOLA OLASUPO

L-R; Trustee, Compliance Institute, Nigeria(CIN), Mr. Abimbola Adeseyoju; President, Compliance Institute Nigeria, Mr. Pattison Boleigha; Guest Speaker, Mr. Abdullahi Shehu; and Registrar, Compliance Institute, Nigeria, Mr. Phillips Okoro at the 1st investiture and induction ceremony of CIN in Lagos, recently SUNDAY ADIGUN

L ĂąR; Director, Omenka Gallery, Mr. Oliver Enwonwu; Special Guest, Mr. Gbenga Oyebode; and Group Managing Director /CEO, Luxury Villas Group, Mr. Tommy Odama, at the Real Estate Interior Design and Art Exhibition held in Lagos,.recently SUNDAY ADIGUN

HR Business Partner Guinness Benin Brewery, Akinsanya Gbenga; Zonal Commanding OďŹƒcer RS5 Benin Assistant Corps Marshal, Kehinde A. Adeleye, and Ag. Site Director, Guinness Benin Brewery, Everest Oghonim, representing Viola Graham Douglas (Corporate Relations Director, Guinness Nigeria Plc) at the Guinness-FRSC Ember Month rally in Benin, Edo State...recently

L-R; Managing Director, Ecobank Nigeria, Charles Kie; Chairman Lagos State Health Service Commission, representing the Commissioner of Health, Dr Bayo Aderiye; and Medical Director, General Hospital Ikorodu, Dr Olufunmilayo Bankole, during the commissioning of a building renovated and furnished by Ecobank Nigeria at the Agbala Pediatric Centre in Ikorodu, Lagos State,...recently SUNDAY ADIGUN

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BUSINESSWORLD

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

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Quick Takes GTBank Wins EMEA Awards

Guaranty Trust Bank Plc (GTBank) said it was recently recognised as the “Best Bank in Nigeriaâ€? as well as the “Best Bank for CSR in Africa,â€? in the EMEA Finance awards.The bank’s Managing Director and Chief Executive OďŹƒce, Segun Agbaje, also won the award for the CEO of the Year, which he won in 2013, thus becoming the ďŹ rst ever repeat winner in the history of the awards.EMEA Finance is a bi-monthly global industry publication that reports on the major ďŹ nancial events and happenings initiated and inuenced by the international ďŹ nancial industry active in Europe, Middle East, and Africa.According to the Publisher and Chief Executive of EMEA Finance Magazine,Christopher Moore, GTBank had in recent years, attracted laudable accolades for its eorts in growing local communities through key interventions for SMEs in the fashion and food industry.This novel initiative, according to a statement, had enabled the bank tocreate free platforms for budding entrepreneurs across Africa to grow their businesses.

Access Bank Upgrades Internet Banking

MERITORIOUS AWARD

Managing Director, FBNQuest Asset Management, Ike Onyia (middle) and Head, Equity Research, FBNQuest Securities, Bunmi Asaolu (left) receiving the Best Local Investment Bank in Nigeria; Best Asset Manager in Nigeria and Best Broker in Nigeria awards on behalf of FBNQuest Merchant Bank from Publisher & CEO, EMEA Finance, Christopher Moore (right) at the 2017 African Banking Awards Ceremony in London ‌ recently

Bonds Lead Capital Market Issuances, Account for N1.4tn Goddy Egene Bonds continued to dominate new issuances accounting for N1.364 trillion or 88 per cent of the total issuances in the capital market between January and September 2017. The acting Director General of the Securities and Exchange Commission (SEC), Dr. Abdul Zubair had disclosed at the weekend that total issuances in the market amounted to N1.55 trillion, with equities accounting for 12 per cent. This implies that equities market recorded about N186 billion. Although it is a major jump

CAPITAL MARKET compared to the N39 billion recorded in 2016, bonds sector remained the most patronised, recording N1.364 trillion as at September 2017. This figure is 4.1 per cent higher than the N1.31 trillion recorded for the whole of 2016. Market operators said the high level of bond issuances does not come to them as a surprise given the apathy the new equities market is experiencing from investors. Due to high investor apathy, companies have been relying

mostly on bonds until this year when more firms went for Rights Issues. However, most of the bond issuances came from the federal government. Institutional investors prefer investing in bonds due to the relatively high and stable returns with less risk. Meanwhile, transactions in the equities secondary market rose by 78.6 per cent N1.655 trillion between 2016 and September 2017. Meanwhile, Zubair said SEC has designed and implemented some programmes to create more awareness and further deepen the capital market.

“The commission embarked on an outreach in some area councils of the Federal Capital Territory (FCT). SEC joined its counterparts all over the world to mark the IOSCO world Investors week in Abuja and Lagos bringing together stakeholders, investors, and students to promote financial inclusion,� he said. The DG added that there are other measures the commission is pursuing to develop the capital market in a bid to make the dream of making the market the most developed in Continued on page 24

Reform Bloated Civil Service to Save Cost, FG Told Obinna Chima A member of the Central Bank of Nigeria’s (CBN) monetary policy committee (MPC), Mr. Chibuike Uche has said that the inability of the federal government to meaningfully reform its over bloated civil service has continued to obstruct economic growth. To this end, he urged the government to be bold enough in executing some reforms in the civil service. According to Uche, owing to this, most of the “excessive monies being injected into the economy- borrowed or printed- end up being used to service the recurrent needs of this inefficient government machinery.� Uche said this in his personal statement at the November MPC, a copy of which was obtained on the central bank’s website recently. He pointed out that despite the fact that oil prices have

ECONOMY started inching upwards the Nigerian economy remained in “dire straits without any clear path for positive change ahead.� He argued that the additional revenue being earned from oil have only brought about temporary relief for the federalgovernment, insisting that the structural defects the Nigerian economy “remain unaddressed.� “The confusion surrounding the exit of the country’s economy from recession is indicative of the widespread pessimism about the future of the Nigerian economy. “The poor state of the Nigerian economy is perhaps not surprising especially given the fact that the government has done very little to operationalise its economic change mantra,� he maintained. He expressed concern that the government was increasing

its international debts, which according to him had attendant exchange rate risks, without a clear plan of its repayment. “These huge borrowings and injections into the national economy also complicate monetary policy by making the future direction of inflation unclear. “The above dynamics also impact on the health of our country’s banking system. It is for instance my view that a good way of gauging the economic health of any nation is to examine the health of its banking system. “This is so because banks essentially intermediate between surplus and deficit units of any economy. The success of such intermediation always depend on the health of the underlying economy that such intermediated capital is used to finance,� he added. In addition, he expressed concern about the high levels of bad debt portfolio in some Nigerian banks.

“It is based on this level of increasing threats that I find calls for the further tightening of monetary policy to be inappropriate. “An immediate consequence of such a hasty action will be a corresponding rise in the already high levels of the bad and doubtful debts portfolio of Nigerian banks. “In my view, the need to prevent another banking crisis should be of great importance in the formulation of monetary policy in present day Nigeria.� He also said there was need for the central bank to curtail the speculative behaviour of private portfolio investors in the country. This, he described as unfortunate given the “fact that history has taught us that speculative short term capital flows are incapable of aiding the economic development of developing countries. Foreign capital is only useful Continued on page 24

Access Bank Plc has upgraded its mobile and internet banking platforms to provide an Omnichannel experience alongside a range of new and exciting features. The Omnichannel experience simply means customers of the bank would enjoy seamless and consistent interaction with the bank across multiple channels. It further stated that with this upgrade, customers would now be able to sign-in to the mobile and internet banking platform with the same user details.Furthermore, additional features have been added with the aim of making banking convenient as ever for the Bank’s customers.Some of these features include: standing orders for recurrent transactions like bill payments, top up, fund transfer and lots more. It also enables customers to purchase airtime directly for a friend from the phone contact list, manage cheque, receive targeted product campaigns, as well as analysis and tracking of monthly spend and use of MVisa.

Sigma Pensions Unviles Digital Platform

Sigma Pensions, one of Nigeria’s licenced Pension Fund Administrators, has introduced a digital platform known as‘Sigma Clique.’According to a statement from the ďŹ rm, Sigma Clique is an “all in oneâ€? stop centre for news and information, ďŹ nancial literacy, lifestyle, entertainment, wisdom and life lessons, business and mentorship,amongothers.â€?Itadded:“InabidtoempowertheNigerian youth and prepare them for a brighter future, Sigma Pensions will continually provide exciting and highly impactful content on the platform, which will aim to transform and prepare the youth for giant strides, which will aect many more generations to come.â€? Itfurtherstatedthatoneoftheoutstandingfeaturesontheplatform was that entrepreneurs can connect with each other, ďŹ nd out about one another’s businesses, build a network of like minds and make sales to one another.Commenting on this platform, the Managing Director, Sigma Pensions Limited, Mr. Dave Uduanu, said: “We must ensure that as we build phenomenal businesses in this region.

Sterling Bank Honours Adesanya

Sterling Bank Plc celebrated Mr. Lanre Adesanya, its Executive Director, Corporate and Institutional Banking, who recently retired from the bank after a 30 years’ journey for his meritorious service. The retirement dinner was graced by directors, senior executives, shareholders, business associates and the retiring executive director’s family members. The celebratory dinner tagged: “Let’s Celebrate our Legend� took place in Lagos. In his welcome address, MD/CEO,Mr.YemiAdeola,saiditwasanighttocelebrateaniconwho hadworkednon-stopfor30yearswiththebankatbothinternational and local levels and had traversed the length and breadth of the country in the course of his career. Adeola also enjoined families, shareholders and customers of the bank to celebrate the retiring executive director. Also, speaking on the occasion, Chairman of the bank, Mr. Asue Ighodalo, said the bank would miss Adesanya, adding that his wealth of experience, contacts and demeanour, which he used to bring to bear on issues during board meetings.

“CBN will provide some form of forbearance such that if a bank lends a certain percentage of its funds to SMEs, maybe its CRR would be lower than that of other banks not embracing the initiative�

CBN Governor

Mr. Godwin EmeďŹ ele

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BONDS LEAD CAPITAL MARKET ISSUANCES, ACCOUNT FOR N1.4TRN Africa by 2025 a reality. “In macroeconomic terms, these measures are aimed at making the liquidity money (LM) curve flatter as investors become more and more attracted to the market,� he said. Zubair said that further to the commission’s commitments to ensure market efficiency, accountability and transparency in the capital market, the commission wishes to assure the investing public and all stakeholders of its commitment to ensuring an uninterrupted and orderly operation of the market and the regulations thereof. “Accordingly, the commission is poised to continue to ensure the stability of the Nigerian capital market and maintain the high level of investor confidence observed in the market,� he said. REFORM BLOATED CIVIL SERVICE TO SAVE COST, FG TOLD to economic development to the extent that it helps fund the acquisition of long term capital assets, skilled manpower and technology. “While short term speculative capital can sometimes help shore up the value of local currencies in developing countries, to the delight of central banks, this has never been sustainable. “The capital flight/ exit that always follow usually have far more negative consequences than whatever temporary gains the inflows may have had,� he said. On his part, the Deputy Governor, Financial System Stability, CBN, Dr. Joseph Nnanna, noted that the financial conditions of banks remained fragile due to provisioning for foreign exchange interventions and open market operations, rising average interbank and open buy back market rates. Banking sector credit to the core private sector contracted by 0.36 per cent in July (-0.62 per cent on annualised basis) as a result of the persisting crowding-out effect of government borrowing requirements.

CBN: Local Rice Production Records 70% Increase Bassey Inyang in Calabar The Central Bank of Nigeria (CBN) has stated that the production of rice locally has increased to 70per cent following the introduction of the Anchor Borrowers Programme by the federal government. Head of Development Finance Department of the Bank, Mr. Chukwudum Nzelu, who disclosed this in Calabar, Cross River State, at the weekend, said before the introduction of the scheme, local rice production stood at 30per cent. Speaking at a CBN Fair staged to educate the people on financial literacy and the workings of bank, Nzelu said with the increase in rice production locally, Nigeria has saved a lot of foreign exchange. He noted that if the trend in rice production continues, the country would have succeeded in creating jobs through a new generation of farmers, distributors, transporters, marketers and allied industries associated with rice production. Nezlu said that the market is inexhaustible because the nation’s population is huge, and there is huge demand for rice in the country. “So we did an experiment with rice through what we called the anchor borrowers programme, where a rice miller comes as an off taker

for small holder farmers who would produce for him and then he takes from them and mills. “Factories that were operating at 30 per cent now are operating at 70 per cent production capacity after the experiment. With this increase we have created jobs. That is why between 2016 and 2017, we have a lot of local rice in the market. So many local factories that were dormant became active again,� Nezlu said.

Nzelu, who led the Team from the CBN, said they were also intervening in an accelerated agricultural development scheme, aimed at engaging a minimum of 10, 000 youths between the ages of 18 and 35 from the 36 states and Abuja. “If we are able to take out 10, 000 unemployed people out of the market, you can imagine when you multiply that by 36 states and Abuja,� Nzelu said. Nzelu said though the core

mandate of the CBN requires that they intervene in other sectors to develop the economy, the bank was also saddled with the responsibility of ensuring price and financial system stability. He said the CBN was concerned that if the country continues importing what can be produced locally, it would deny the people the jobs that would have been created. In his remarks, the Cross River State Branch Controller

of the CBN, Dr. Graham Kalio, urged the participants in the fair to make effective use of the forum because the bank wants the prosperity of everyone Nigerian. “Put whatever you learn into practice. We want to make sure your money is safe and you have a way of making that money, so you can live well. We want to enjoy everyone enjoys the riches of Nigeria,� Kalio said.

MTN SEASON OF SURPRISE

Chief Marketing OďŹƒcer, MTN Nigeria, Rahul De; Executive Directors, MTN Nigeria, Gbenga Oyebode and Tunde Folawiyo and Chief Operating OďŹƒcer, MTN Nigeria, Muhammad Zia Siddiqui, presenting gift items to a resident of the Police Barracks, Falomo, Ikoyi, Lagos during the MTN’s Season of Surprise Initiative‌recently

Accenture to Boost Nigeria’s Economy with Tech Innovations Emma Okonji Having missed out in the previous industrial revolutions that have continued to shape developed economies of the world, Accenture Nigeria, a leading global professional services company, with focus on digital technology has demonstrated its new technology capabilities that will help Nigeria leverage the fourth industrial revolution, which is about knowledge economy. The company, last week at its Lagos office, showcased its latest technology capabilities that will enable businesses

across different sectors in the country, boost their productivity and efficiency through its recent innovations and investments in Artificial Intelligence (AI), Virtual Reality (VR), robotics and blockchain. Addressing the media on its new technology initiatives driven by AI, VR, robotics and blockchain, the Managing Director, Accenture Nigeria Mr. Niyi Tayo, said: “Early this year, we predicted that in five years, more than half of consumers and enterprise clients will select products and services based on a company’s AI, instead of the company’s traditional brand.

And in seven years, most interfaces will not have a screen and will be integrated into daily tasks. These two predictions alone strongly suggest that companies must act now on developing their AI Journey. �We want businesses in Nigeria, from banking to manufacturing, health, construction, education, retail, security, and other sectors to take advantage of the innovations we have created to improve their businesses. We believe as one of the biggest economy in Africa, the time to seize the future is now.� Responding to the public fears that robots technology will lead

to job losses, Tayo said there is clear evidence that points toward robotic automation in many cases being a complement for human labour, rather than a direct substitute. He asserted that mundane tasks were the ones being automated. According to him, “Human effort becomes more valuable as it is focused on higher-level tasks, creativity, know-how, and thinking.� Accenture early this year published a report, entitled the 2017 Technology Vision, which studied how artificial intelligence will affect banks going forward. Over 600 of

the world’s foremost bankers were surveyed and asked a series of questions about the new technology and how it will change the way banks operate internally and how they handle their customers externally. According to the report, from among the three quarters of the bankers surveyed, four out of five, believed that AI will become the primary way banks interact with their customers. This is in relation to customer service, and these bankers see AI technologies such as chatbots becoming increasingly essential for banks in the not-so-distant future.

AU Commends African Leaders on Free Trade Group Business Editor

Ă’Ă“Ă•Ă‹ Ă—Ă‹Ă˜Ă¤Ă?Ě‹ ĂĄĂ‹Ă?Ă’Ă&#x;Ă•Ă&#x; AgriBusiness/Industry Editor

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Emma Okonji African Union (AU) has commended African leaders for doing the right thing in creating the Continental Free Trade Area (CFTA) despite the current retreat from multilateralism. The African Union’s Commissioner for Trade and Industry, Albert Muchanga, gave the commendation in Cairo, Egypt while delivering the keynote lecture at the second edition of the African Export-Import Bank (Afreximbank) Trade and Development Seminar Series, recently. He said the physical deglobalisation that took place in the world had created a need

for strong regional economies. He noted that although the World Trade Organisation was failing to come up with new multilateral trade agreements, more countries were still applying to join that world body and that no country was clamouring to leave it. Muchanga explained that the establishment the CFTA flowed from the vision of the African Union to achieve an integrated, prosperous and peaceful Africa, driven by its own citizens representing a dynamic force in the international system. “With more than 1.2 billion people, including a growing middle class, over $3.4 trillion

in aggregate GDP, and being one of the 10 largest economies in the world in aggregate GDP, the CFTA was a commercially viable undertaking and would be among the largest free trade areas in the world in terms of population. “In addition to generating strong gains on soft issues, the CFTA will bring about economic stability and growth in Africa and will address issues of trade policy, trade facilitation, productive capacity and trade information on the continent. It will also tackle the challenge of trade related infrastructure, trade finance and factor market integration,

including free movement of people, free movement of capital and right of establishment,� Muchanga said. Earlier, in a welcome address, President of Afreximbank, Dr. Benedict Oramah, said the timely conclusion of negotiations for the CFTA had confirmed the commitment of African leaders to pursuing regional integration. Oramah noted that with the CFTA coming on stream in a period when multilateralism and plurilateralism were under attack in many important regions of the world, questions had been raised about its future under such an environment.

“While the speed with which the CFTA has been concluded appears to indicate Africa’s preference for unity, we have to be mindful that the attainment of the ultimate goal of the CFTA of strengthening Africa’s role in global trade may be more difficult to achieve under the wave of isolationism sweeping across other markets,� Oramah warned. The Seminar was followed by a dinner hosted by Afreximbank in honour of Mohamed Edrees, Egypt’s Assistant Minister of Foreign Affairs for African Affairs, who has been posted to New York as Egypt’s Permanent Representative to the United Nations.

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BUSINESSWORLD

NEWS

Premium Pension to Commence Payment of Enhanced Monthly Pensions Ebere Nwoji Premium Pension Limited has said that it will this month (December 2017) commence payment of enhanced monthly pension to its retiree – customers, in line with the directive of the National Pension Commission (PenCom). The company explained that the essence of upward review of the monthly pension is to ensure that it synchronises with growth in pension funds and also respond to the yearnings of the retirees. “The increase in the monthly pension of all retirees on Programmed Withdrawal is due to the income earned on investment of their pension asset being managed by the Company�, said the acting Managing Director Premium Pension Ltd , Mr. Kabir Ahmed

Tijani. He said the upward review in the monthly pension to retirees is a clear indication that Premium Pension fund rate has appreciated and has become robust and more competitive in the pension industry. The payment of enhanced pension, he added, will apply to retirees with reasonable balances in their Retirement Savings Accounts (RSAs), which has earned significant income overtime. This is an indication that RSA holders are made to benefit from increased Return on Investment of pension funds. He also expressed his delight on the positive development in the industry regarding the upward review of the monthly pension, adding that this will further encourage the

retirees to have faith in the new Contributory Pension Scheme (CPS) and to improve on their welfare. “I give Premium Pension far more than a pass mark on account of their efficient services being rendered to retirees and the prompt response to all our inquires.� Premium Pension Limited is one of the pioneer and leading PFAs in the country with regional offices and branches spread across the country. The company manages 738,736 Retirement Savings Accounts (RSAs) and 46, 941 retirees and has paid since inception retirement benefits to the tune of over N132 billion while having pension Assets Under Management (AUM) in excess of N500 billion Naira as at November, 2017.

MTN Excites Nigerians with Freebies In its bid to ensure a memorable yuletide by giving back to Nigerians, MTN Nigeria has commenced its season of surprises give back initiative. MTN kicked off this year’s ‘Season of Surprises’ at the Police barracks, Falomo, Ikoyi where it surprised the residents with various gifts such as food items and household gadgets will move around the country over the next two weeks. Commenting on this, the General Manager, Consumer Marketing, MTN Nigeria, Oluwole Rawa stated that the aim of the initiative is to bring back the essence of the season which is giving and

showing acts of kindness. “We understand the importance of the season, which is why we have come up with this drive. We want to surprise Nigerians with random act of kindness which is the essence of the season. As always, we aim to spur show act of kindness and give to others,� he said. While encouraging Nigerians to watch out for the Yello train as it will be travelling across the country, Rawa also revealed that the season of surprises will also touch the online community. A Police Inspector, and resident of the barrack, Wole Oguntoye who got

a gift of a television set at the event, commended MTN for the kind gesture. He also urged companies to emulate MTN and show appreciation to Nigerians for their patronage all year long. “I would like to thank MTN for this initiative. It’s very exciting, especially at this period of Christmas. They have done well to surprise us with these gift items today. This television set is another addition to my properties and I’ll definitely make good use of it. I call on other companies to emulate this and appreciate Nigerians for their patronage in the year,� he said.

INTELS Wins Nigerian Shippers’ Council CSR Award Nigeria’s oil and gas logistics giant, Intels Nigeria Limited has been conferred with the award of the “Most Outstanding Terminal Operator in Corporate Social Responsibility� by the Nigerian Shippers’ Council (NSC), a federal government agency under the Federal Ministry of Transportation. The award, which was conferred on Intels during the NSC’s Stakeholders Appreciation Night held in Lagos recently, was in appreciation of the company’s effort at uplifting individuals, families and the host communities through its CSR. Executive Secretary of NSC, Mr. Hassan Bello also commended INTELS for its huge investment and commitment to ports development in the country. This is the second year in a row that NSC is conferring its award on INTELS. Intels is a core investor in the concession of major oil and gas terminals in Nigeria and has consistently raised the living standards of its host communities in Onne, in Rivers State, Warri in Delta State and Calabar in Cross

River State. Over the past 10 years, INTELS reportedly spent more than N12 billion on Corporate Social Responsibility in empowering and supporting host communities in various areas of the Niger Delta region. The company recently trained and empowered no fewer than 300 women in the Niger Delta region through its innovative Women Empowerment Programme Scheme Synergy (WEPSS). WEPSS was instituted to enable the women become leaders and to also promote a positive and strong image for Nigerian women. In recognition of the company’s support, the Paramount Ruler of Onne Clan in Rivers State, King John Dennis Osaronu, recently commended the company, describing it as “a company Nigerians must be proud of�. Going down memory lane, the Royal Father, who was a member of the Rivers State House of Assembly during the the Second Republic, said, “Thirty years ago, Onne was a virgin forest. Onne as you

see today was not what it was about 25 to 30 years ago. Even the port area was forest. We used to go there to hunt for monkeys and catch crabs – we called it crab land until Intels came in. “Before Intels came, the area was abandoned right from the time of Umaru Dikko as the Minister of Transport. Since Intels came into our community, we have got so many changes and things are going on so well with us.� He further stated that the company has provided lasting support to children, men and women of the community. “They have built roads and provided us medical services. Recently they built us a 10-kilometre tarred road. They have built for us three schools and given us drainage system for the community,� King Osaronu said. According to the Monarch, Intels also built a modern ultra-modern market constructed at the cost of N1billion and provided solar street lights for the community.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

My Airbnb Experience Some of you will recall that I recently went to Cape Town on a speaking engagement cum vacation. During the conference I had to stay in a hotel in Century City as the event was taking place in the Century City Conference Centre. After the conference, I moved to an Airbnb accommodation that I had booked which was about 45 minutes away from the venue of the conference in Hout Bay. When we got to the hotel, we made enquiries about the location and were told there had been a little unrest in the area and were advised to watch the situation before checking in. We called our host, relayed the message and were told that all was well. We then agreed on when we would check in, which was a few days after our payment was meant to kick in. This was fine by me as I wanted to observe the situation before checking in. On the appointed day, we checked into the apartment. A lovely apartment on the third floor in a picturesque location on the bay. The view was to die for, with the mountains surrounding us, the sea, ships and boats. On checking in, we were given a tour of the apartment. When the caretaker left, we needed to cook. We then realized we could not put on the gas cooker nor operate the washing machine. We called the caretaker. He did not answer, so we left him a WhatsApp message. After waiting a while without a response from the caretaker and saddled with two young adults telling me they were hungry and eager to eat Nigerian food, we tried to figure out why we could not operate the cooker, only to discover there was a cylinder under the sink which was a distance from the gas cooker that had to be turned on. Like I said earlier, we checked into our apartment at 3:00 pm on the appointed day, sent the WhatsApp and call asking for instructions about how to use the appliances but did not get an answer to our request till the next afternoon. But, by then we had figured out how to use the appliances. Nevertheless, we enjoyed the apartment, the facilities and location. We ensured that we used the apartment well and left it as clean as we met it. When we got to Nigeria, we were sent a message to review our stay. The usual

practice is to give two levels of review for the host – public and personal. The guest is also reviewed by the host. I gave two nice reviews, but the one for the host only, I indicated the need to respond on time. Lo and behold, when we were reviewed, we were given a review that was not nice. Immediately, my daughter went on twitter and sent a tweet that we just got back from Cape Town and had gotten a fallacious review. Airbnb picked up this tweet and engaged her to find out what happened. They told her to send them a mail using our Airbnb account to give a narration of our experience and what exactly happened. We sent it to them that night, this was about 3 am. In less than an hour, we were given a customer service Executive to help us investigate what happened. The Executive engaged and corresponded with us, and promised she’ll get back to us as quickly as possible. Before morning, she came back to tell us that she had investigated and did not agree with the review we had been given and deleted the review from our record. She ensured we were satisfied with her actions and patiently waited for us to verify that she had done all she said she would before signing off from the assignment. Two days later, we got a mail from Airbnb asking us if we were satisfied with the customer service experience and to rate the Executive who had been assigned to work with us. We gave her an excellent rating. I had not experienced that kind of customer service before. To say I was blown away by the level of customer service I received, is an understatement. I was blown away for several reasons: r 5IF PSHBOJTBUJPO DBSFE FOPVHI BCPVU what you thought about them online and engaged with you without you having to go to their customer service site to log in a complaint. Many organisations, especially in Nigeria get complaints and comments in the air waves and do nothing about engaging with their customers to really understand what happened with the intention of taking proactive measures to solve the problem r 5IF TQFFE BU XIJDI UIFZ FOHBHFE XBT impressive. The time and attention also given to solving the problem was novel to me. r " EFEJDBUFE QFSTPO XBT BTTJHOFE UP UIF issue and we were given a formal introduction and told that we should engage with her anytime we felt like, until the problem was sorted. Each time we sent her a mail asking or verifying an issue, she responded almost immediately

Like I said earlier, we checked into our apartment at 3:00 pm on the appointed day, sent the WhatsApp and call asking for instructions about how to use the appliances but did not get an answer to our request till the next afternoon. But, by then we had ďŹ gured out how to use the appliances

r 5IF JTTVF XBT EVMZ JOWFTUJHBUFE BOE she came back to give us a report on the steps she took to verify the assertion and why she came to the conclusion that she did in agreeing with us that the review was indeed fallacious. I will like to implore organisations in Nigeria to take a cue from the example above. The organisation that can crack the customer service problem in Nigeria will be King.

.– Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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Increasing Awareness on FG Savings Bonds Goddy Egene writes on the renewed efforts by the Debt Management Office to create more awareness on the Federal Government of Nigeria Savings Bonds and grow patronage by retail investors

Kemi Adeosun

When the Debt Management Office (DMO) launched the Federal Government Savings Bond (FSB) in March this year, one of the major objective was to ensure that retail investors enjoy the benefits of bonds issued by the federal government. While the Federal Government of Nigeria (FGN) bonds give regular returns on investments, retail investors have remained shut out due to huge amount required to invest in the bonds. Hence, only institutional and high networth investors have been enjoying the benefits of the bonds. However, in order to allow retail investors enjoy some of the benefits in bonds, the DMO last March launched the FSB. The FSB and its beneďŹ ts FSB, issued by DMO on behalf of federal government, is part of the government’s programme targetted at the lower income earners to encourage savings and also earn more income (interest) when compared to their savings accounts with banks. FGN Bonds are debt securities (liabilities) of the FGN backed by the ‘full faith and credit’ of the federal government and no default risk. This means that it is a safe investment where interests will be paid at regular period and principal repaid at maturity. The bond is usually denominated in Naira with a minimum subscription of N5,000 and a maximum of N50 million. It has a fixed interest rate that will be paid every quarterly and has a tenor of two to three years. The purpose of the bond is to deepen the national savings culture. It is aimed at providing opportunity to all citizens, irrespective of income level, to contribute to national development. It will enable all citizens participate in and benefits from favourable returns available in the capital market and diversify funding sources of the FGN. The FSB has the following benefits: It offers guaranteed returns, and encourages financial inclusion among low income households; it enables individuals to enjoy those benefits which accrue to high net-worth investors in the capital market; it has a competitive fixed rate – interest rate; the interest incomes earned from the securities are tax exempt; and the

Oniha

FGN savings bond certificate can be used as collateral for loan. “The rationale for the issuance of FSB are to deepen the national savings culture, diversify funding sources for the government and establish a benchmark for other issuers of bonds in the country. It offers guaranteed returns, helps to stimulate and deepen the savings culture among households and encourage financial inclusion. It enables individuals to enjoy those benefits which accrue to big investors in the capital market. Savings bond also helps to increase access to funds available for investment in the economy, thereby floating gross capital formation and increase in output within an economy,� the DMO had explained.

Retail investors excited The introduction of the FSB had excited some retail investors, said it was a very good development for investors, the government and market in general. For instance, Mr. Moses Igbrude of Independent Shareholders Association of Nigeria (ISAN) told THISDAY that DMO should be commended for finally “democratising� the bond market. “Since the equities market has remained volatile retail investors like us have been looking for alternative investments. The FSB is, therefore, a welcome development. The bond market has been an exclusive of high networth investors. Although the DMO made moves in the past to encourage secondary trading of bonds so that low income earners can benefit, that has not really worked out well. However, with the savings bond, many investors will now have the opportunity to participate and benefit from regular interest rates from a government security,� he said. Igbrude said the N5,000 minimum investment is highly encouraging and will make the offer very attractive to retail investors. Another investor, Mr. Justin Ekere said the beauty of the security is that you are not at risk of losing your capital. “Unlike some investments in which you risk losing your capital, the savings bond is a less risky investment. Apart from the interest that

you will earn every quarter, your capital is preserved and you get it back at the end of the tenor. This is highly heart-warming and encouraging. The DMO has done well by introducing this instrument into the market at this time,� Ekere said.

According to them, these strategies should be able to attract a minimum of one million subscribers on a monthly basis. “If this is achieved and the monthly subscription amount increases, the overall weighted average interest rate on the FGN debt will drop,� they said.

Low patronage

DMO IntensiďŹ es enlightenment

Despite the high optimism that greeted the introduction of the FSB, the patronage has not been as encouraging as expected. For instance, the amount allotted dropped from N2.07billion in March 2017 to N400.57million in July 2017, while the total number of investors also dropped from 2,575 in March 2017 to 779 in July 2017. Commenting on the development, analysts at FSDH Research had said one of the factors responsible for the poor patronage of FSB was the rally that dominated the equity market in Nigeria. “The Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 51.47 per cent between March 01, 2017 and August 9, 2017. Many retail investors diverted funds to the equity market to take advantage of capital appreciation. Other factors are: the low awareness of the benefits and characteristics of the Bond; the low liquidity of the Bond at the secondary market and the high yield on the Nigerian Treasury Bill (NTB),� they said. They therefore suggested ways to increase investors’ patronage. According to them, the DMO and the stockbrokers can organise investors’ road shows in various cities and schools across the country. “This will be an avenue to directly engage retail investors on the need for them to hold the bonds in their investment portfolio. The DMO can work with some identified large corporate organisations that have large number of employees to encourage their employees to invest in the Bonds on a monthly basis. The DMO can also work with government agencies to encourage civil servants to invest in the bond,� the analysts stated.

While the DMO may be considering partnering stockbrokers and raise the awareness on the FSB, the agency is already taking the campaign to the grassroots in some markets across the country. The agency started from the Federal Capital Territory (FCT) where it took the awareness campaign to Gudu market, Wuse market, Dei-dei market and Garki model market. The Director, Portfolio Management Department, DMO, Mr. Oladele Afolabi, told THISDAY that the agency want to ensure that investor make savings that are secure with good returns. He restated the federal government’s commitment to the promotion of savings culture among Nigerians. At the Gudu District Market in Abuja, Afolabi had to traders that the federal government was committed to promoting a good savings culture amongst Nigerians. That commitment, he said, led to the grassroots campaign to encourage people to invest in the FSB. “We are here so that you (traders) can see us and know that what the federal government is offering is real. Government wants you to save and earn good interest on what you save. Saving with your government is the best way to save,� Afolabi told the audience. In a presentation, Mrs. Bose Olafisoye of DMO told the traders that the FSB belongs to the people, therefore, the decision of the DMO to engage with ordinary Nigerians on the streets, in the markets as well as Churches and Mosques. Speaking at the event also, chairman of the Gudu Amalgamated Traders Association, Chief Bond Nnamani, urged his members to seize the opportunity offered by the DMO to have additional savings especially one guaranteed by the full faith of the federal government.

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Prioritising Women Empowerment Nume Ekeghe writes on FirstBank of Nigeria’s women-focused banking products

L-R: Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Mrs. Folake Ani-Mumuney; Deputy Country Head, Deutsche Bank Nigeria Adeola Azeez; Chairman, First Bank of Nigeria Limited; Mrs. Ibukun Awosika, Deputy Managing Director, First Bank of Nigeria Limited Mr. Gbenga Shobo; Chief Executive OďŹƒcer, Eventful Limited Mrs. Yewande Zacchaeus at the ďŹ rst year anniversary of FirstGem, FirstBank’s Lifestyle oering for women held in Lagos ... recently

Former United Nations Secretary General, Kofi Annan once said ‘there is no tool for development more effective than the empowerment of women.’ With this in mind, FirstBank had launched a bespoke solution for women-led undertakings and initiatives – FirstGem for Women. With FirstGem, female customers can access support funds for their total financial wellbeing, free business advisory to meet their economic needs and aspirations, specialised trainings on business development initiatives, regular information and insight on business opportunities in various sectors as well as discounts at merchant outlets that offer lifestyle products and services amongst other benefits. The product also comes in variants of savings and current accounts and it is designed to benefit women professionals, entrepreneurs, SMEs, women in paid employment as well as low income earners, traders and artisans. According to the bank, with FirstGem, there is something for every woman. The bank’s Group Head, Marketing and Corporate Communications, Folake AniMumuney, explained that women in diverse careers and businesses contribute a great deal to FirstBank’s bottom-line and the nation’s Gross Domestic Product in the long run. Owing to this, the bank is committed to supporting women-led businesses to stimulate sustainable growth and national development. “FirstBank has hosted several workshops to support women-led businesses, especially SMES. The launch of FirstGem takes this support a notch higher to provide access to the required funds at a minimal interest rate� she added. In one year, the FirstGem Product team has been to several states in Nigeria – including Benue, Abia, Enugu, Osun – training women on how to better their finances. So far, they have trained over 10,000 women and are committed to do more. The bank has also provided additional funds running into billions, created a community platform for the women and provided loans based on cash-flow, not collateral.

This month, the bank marked FirstGem’s first anniversary with an interactive session which had in attendance notable personalities with business minds, including the bank’s Chairman, Mrs. Ibukun Awosika. At the session, the Deputy Managing Director of the bank, Mr. Gbenga Sobo said the initiative was parts of the bank’s efforts to empower women and keep them abreast of opportunities for financial growth and economic development. “An empowered woman translates to an empowered family, society and nation and this is to serve as a catalyst for that,� he said. Among other things, Sobo reiterated that FirstGem allows women access low interest rates and provides them access to free business advisories, regular information and insights on business investments. So far, he added, the response has been tremendous. “Over 17,000 FirstGem accounts have been opened within one year and I am sure that with First Gem, our women will record outstanding success in 2018,� he added. An investment banker and the chief economist at Macroafricaintel, Rafiq Raji, highlighted some of the key things women should pay attention to take more intelligent business decisions. “We are out of recession, but times remain hard. Don’t despair, it is going to get better. This is because oil prices are likely to continue to rise as OPEC continues to cut down supply. “Although the oil sector only accounts for 10 per cent of our economy, it still carries the entire economic revenue on its shoulders,� he added. He advised women “to learn how to follow economic trends through studying data. In our environment, people don’t pay attention to these simple data trends. Successful people follow the data and use it.� He told his audience who were largely women, to pay attention to interest rate, which is heavily influenced by the inflation rate. “You should watch the news – it matters. Pay attention to things like Donald Trump’s tweets,� he said. “Follow the decision makers on

Twitter; don’t wait for the newspapers to report on them. “You also need to pay attention to the budget. It is important because that might determine what businesses do. Then the politics, too, is important,� he advised. He predicted that “2019 scheming may heat up polity and government will become more sensitive and responsive.� Also, the chief executive at dkb Markets, a financial trading company, Dr. Aderemi Banjoko spoke on stock market investments. “The key to understanding the stock market is to take away all the bells and whistles and focus on the meat,� he said. He shared some Warren Buffet’s anecdotes before explaining the Consumer Price Index (CPI). To beat inflation, he advised the women to start creating another source of income and spoke extensively about the power of compound interest. “When you begin to understand money and how it works, you will use your money wisely,� he said. “Most people can become wealthy from what they are earning now; it just depends on how they use it. “When it comes to the stock market, you need to understand what you are doing; understand that trading is significantly different from investing; trading is short term and investing is long term; the mental states for each are different. Not everybody can be a trader, but everybody should be an investor.� He outlined the four major components of the financial market as: Fixed income securities, stock market, currency market, and commodities market and noted that one must carefully decide, based on one’s appetite for risk and other parameters, “which markets you want to invest in.� On her part, the chief executive and Managing Partner of Brandzone Consulting, Chizor Malize, addressed the women on the importance of building a brand. “Brands are finely crafted, like jewellery, each valuable strand adds to the beauty,� she said. According to Malize, brands have monetary value. The Apple brand, for example, she pointed

out, is worth $170 billion. “You should build your personal brand because it is an extension of yourself and a part of your life’s story,� she said. On how to build a personal brand, Malize advised the women to be known for something, to build and tap into their network, to be authentic and consistent, to give their profile a face, to build a platform for influence, to craft their own brand statement, to be unique, to build content and share their story, to build visibility offline, to build visibility on social platforms and build a strong digital footprint. “Stop hiding, women,� she said. Also, Awosika advised to those who continue to restrict the economic value of women, to desist from such. “Only a crazy business man takes half of his resources and locks it up without full utilisation of that asset,� she said. “Every woman is a major asset for Nigeria but until we fully utilize the value within the women, our productivity as a nation would always be low.� She pointed out that her biggest successes in life came when she was already married, demolishing the idea that marriage should be a barrier to a woman’s productivity. She encouraged the woman to see themselves as valuable and strive to make money through educating themselves. She also urged them to start with whatever little resources they could muster, before advising them to map our their 28 financial goals, write them down and work towards it. On the continued survival of the FirstGem product, she said: “As a bank, it is really important to us.� Some of the core values of the FirstGem is that it provides opportunity for women to create a savings plan and culture that guarantees them safety in the future; and enables them save towards a specific target which includes, enabling women create wealth for themselves and their families from various investment platforms offered through the product – different trust products, short-term financial derivatives, money market funds, among others.

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T H I S D AY WEDNESDAY DECEMBER 13, 2017

UTILIZATION OF FOREIGN EXCHANGE AS AT 8TH OF DECEMBER 2017 S/N 1

CUSTOMERS CBN

AMOUNT (US$) PURPOSE 252,609.45 UNUTILIZED IMTO TRANSFERRED TO CBN

RATE DATE 357.00 4-Dec-17

S/N 87

CUSTOMERS MANUCHAR TRADING INTL

2 3

CBN TATA AFRICA

277,423.92 UNUTILIZED IMTO TRANSFERRED TO CBN 25,700.00 SODIUM SULPHATE

357.00 4-Dec-17 360.50 4-Dec-17

88 89

MANUCHAR TRADING INTL FRIESLANDCAMPINAWAMCO

RATE DATE 360.50 5-Dec-17

S/N 173

CUSTOMERS EHIGIE UWAGBOE

120,750.00 SODIUM TRIPOLYPHOSPHATE 385,427.20 EVAPORATED UNSWEETENED FULL CREAM MILK

360.50 5-Dec-17 361.00 5-Dec-17

174 175

BELLO LADI YUNUSA OBAKPOLOR CLEMENT OSAMYIMEN

4 5

IATA AMAEZE CHIDINMA KEVIN

360.00 4-Dec-17 360.00 4-Dec-17

90 91

IATA PALMORA NIGERIA LTD

3,904,620.94 REMIT OF TKT SALES FROM 1ST -15TH NOV 2017 36,323.20 HARD BOILED CANDY

360.00 5-Dec-17 360.50 5-Dec-17

176 177

AREMU ATOLAGBE FATAI ADETULA DORCAS TITILAYO

6

ATOBILOYE OLUBUNMI BAMIDELE

4,000.00 PTA

360.00 4-Dec-17

92

AYOKU LIADI

7 8

KIABEL DAVID BARIYIMA (PROF) ORUWARI BOMA MAGNUS

1,400.00 PTA 3,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

93 94

MBELEDE IJEOMA IFEOMA HALADU ABUBAKAR ABBA

4,000.00 PTA 3,000.00 PTA

359.50 5-Dec-17

178

ODIGIE EMEKA JUDE

1,000.00 PTA

360.00 7-Dec-17

360.00 5-Dec-17 360.00 5-Dec-17

179 180

ULU NNENNAYA EJIAKU OSEMENE ELIZABETH ASERUOMA

4,000.00 PTA 1,250.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

9 10

BALOGUN ISLAMIAT ADEOLA OYEBOWALE SARAH YETUNDE

2,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

95 96

NDUKWE THOMAS LURA IHUOMA IREKE KALU KALU

4,000.00 PTA 4,000.00 PTA

11 12

HASSAN FOLASADE OLUSOLA ADEYEMI ABOLADE

1,200.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

97 98

EZEALA INNOCENT CHIEBERE IBEAWUCHI CHINEMEREM VICENT

4,000.00 PTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

181 182

OWOLABI FEMI BAMIDELE ONWUKA OBUBA NNANNA

4,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

360.00 5-Dec-17 360.00 5-Dec-17

183 184

NASIRU USMAN AKESUYI IKPONMWOSA ANTHONY

4,000.00 PTA 1,100.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

13 14

SANYA OLAMIDE IKEAGWU CHIDINMA QUEETA ROSEMARY

3,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

99 100

IWOK FRIDAY NDULUE GODFREY NNAEMEKA

15 16

AISHA NAALLAH USMAN JIBRIL USMAN IBRAHIM

4,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

101 102

IKONO OKON AKPAN OLAWOYIN GBOLAGADE KAYODE

4,000.00 PTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

185 186

DARAMOLA OLUFUNMILAYO BOLA BUARI ADEKUNLE WASIU

5,000.00 BTA 5,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

5,000.00 BTA 2,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

187 188

CHINGE JAMES GADO AKINYEMI AKINDELE AYODEJI

2,000.00 PTA 2,200.00 PTA

17

KENNEDY IWUNDU CHINYERE

1,000.00 BTA

360.00 4-Dec-17

103

UCHE UMEZULUORAH CHIJIOKE

360.00 7-Dec-17 360.00 7-Dec-17

4,000.00 PTA

360.00 5-Dec-17

189

BOLARINWA GBOLAHAN ABRAHAM

200.00 PTA

360.00 7-Dec-17

18 19

BANJO BABATUNDE NWAKA AZUBUIKE FRANK

2,000.00 PTA 5,000.00 BTA

360.00 4-Dec-17 360.00 4-Dec-17

104 105

ROMANUS EMENIKE UZOMA OERETOMODE OTAROGHENE

20 21

IKEOTUONYE COMFORT NNE DANAZUMI SALISU

5,000.00 BTA 2,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

106 107

EFEJUKU WEYINMI URHIBO ADJEKOTA DANIEL

5,000.00 BTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

190 191

OSSAI ANNE NKIRUKA TIAMIYU ADERONKE HANATU

2,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

4,000.00 PTA 3,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

192 193

ARIJE BOLANLE AMINAT UDOFIA ODOT-ITORO PRECIOUS

4,000.00 PTA 3,800.00 PTA

22 23

ADEOYE KEHINDE BABALOLA OSHO-SMITH ABAYOMI

4,000.00 PTA 2,500.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

108 109

NWAIKU EMEFIENEM ADESOPE OLAYINKA MARY

360.00 7-Dec-17 360.00 7-Dec-17

4,000.00 PTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

194 195

FADIPE OYEBODE BABTUNDE HASSAN JIDDA DAFFAN

4,000.00 PTA 4,000.00 PTA

24 25

EDMOND CHINONSO SONIA OSTA-INTERBIZ VENTURES

2,000.00 PTA 5,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

110 111

MADUEKWE JOSEPH NNAEMEKA MOHAMMED YAHAYA

360.00 7-Dec-17 360.00 7-Dec-17

4,000.00 PTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

196 197

SANI ABDULRASHID ROGO ISIGUZO MICHAEL

4,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

26 27

ODUNOWO BUKOLA KASIRAT OLUJIDE BOLA ABDAT

3,600.00 PTA 3,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

112 113

OLUWABANGO OLAIDE OLUBUKOLA NDIANABASI ASUQUO

28

NWAONUMAH CHIBUZOR ANTHONY

4,000.00 PTA

360.00 4-Dec-17

114

ANOCHIE C IFEOMA

1,500.00 PTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

198 199

ADEYEMI CATHERINE ADENIKE AIKULOLA IDOWU ADEBISI

1,000.00 PTA 2,360.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

4,000.00 PTA

360.00 5-Dec-17

200

KUKOYI GLADSTONE ABAYOMI

350.00 PTA

360.00 7-Dec-17

29 30

NWAONUMAH JOYCE GRACE ADEKANYE IYABO A

4,000.00 PTA 1,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

115 116

CBN CBN

31 32

SUNDAY AKINADE AKINRINADE EDU NYOHO VICTO

4,000.00 BTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

117 118

CBN TATA AFRICA

57.74 UNUTILIZED IMTO TRANSFERRED TO CBN 624,991.71 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 6-Dec-17 357.00 6-Dec-17

201 202

UWAIFO BARRISTER FESTUS OMOWABI ABDULRAHMAN TAIWO

4,000.00 PTA 1,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

725,007.91 UNUTILIZED IMTO TRANSFERRED TO CBN 31,725.00 SODIUM SULPHATE

357.00 6-Dec-17 360.50 6-Dec-17

203 204

OYESANYA ABIOLA OYEBIMPE CHINONYE H IZE IYAMU

500.00 PTA 1,500.00 PTA

33 34

EZEUDE FRANCIS CHUKWUEMEKA ONYENSO IHUNANYA KELECHI

4,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

119 120

AIR PEACE LTD ETERNA PLC

360.00 7-Dec-17 360.00 7-Dec-17

170,255.70 BNG PAYMENT OF INSURANCE PREMIUM 800,000.00 BASE OIL

360.50 6-Dec-17 361.00 6-Dec-17

205 206

IWUOHA MARCEL OKOLO CHRIS OGBEIFUN

4,000.00 PTA 1,950.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

35 36

KOMOLAFE OLUSEGUN SHALLI T. MAGAJI

4,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

121 122

ACHEBE UCHE JOHNSON SEAMAN SARAH BOLATITO

37 38

AMANFON IKECHUKW ADEGBOYEGA A. ATIBA

4,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

123 124

ADELEKE OLUWAMAYOWA A ODUBUNMI BAMIDELE ALAYO

4,000.00 PTA 1,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

207 208

BALOGUN SAIDAT MORADEKE OHWAVBORUA NURUDEEN G

1,750.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

3,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

209 210

OBI LAWRENCE AMUNIKE CHISOM OBIUTOM EKEH

5,000.00 BTA 4,000.00 PTA

39

BRAIMAH REKHIA FLOXY

500.00 PTA

360.00 4-Dec-17

125

360.00 7-Dec-17 360.00 7-Dec-17

OLARERINOLUSOLA MOROUNMUBO

1,500.00 PTA

360.00 7-Dec-17

211

FALMATA MUSTAPHA AUDU

4,000.00 PTA

360.00 7-Dec-17

40 41

UKATU SUNDAY IFEANYI REV FR. CHUKWUELOBE CHINAZO J

5,000.00 BTA 2,500.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

42 43

NWACHUKWU CHARLES UCHENNA EZEOKE NZE CHARLES CHUKWUNENYE

3,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

126 127

OKWUDINMA SHIRLEY NGOZI AMUZIE AZUKA EDITH

4,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

212 213

NGWU MARGARET OKORIE EJIRO

5,000.00 BTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

128 129

WHYTE EBIDISE AJIBOYE OLUFUNKE ADEWUMI

2,000.00 PTA 1,196.61 PTA

360.00 7-Dec-17 360.00 7-Dec-17

214 215

ISANG PAUL JOHN WAKAMA UDIYENMI MARCELLINA

4,000.00 PTA 1,500.00 PTA

44 45

TAMUNOBERETON-ARI ALASOBA N MOEMEKE CHIOMA JULIANA

4,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

360.00 4-Dec-17 360.00 4-Dec-17

130 131

ADEFARAKAN OLUGBENGA SAMSON BAKARE SURAJUDEEN OLATUNDE

1,347.39 PTA 1,347.39 PTA

360.00 7-Dec-17 360.00 7-Dec-17

216 217

SHINABA OLUBUNMI ADEFUNKE SHOFU BILIKUS ADEOLA

4,000.00 PTA 4,000.00 PTA

46 47

IOREMBER JUDE ANUM ELENDU FELIX NKASIOBI

360.00 7-Dec-17 360.00 7-Dec-17

4,000.00 PTA 600.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

132 133

OGUNMOLA OGUNBAYO YEMISI FREDERICK LAWRENCE

2,026.33 PTA 405.27 PTA

360.00 7-Dec-17 360.00 7-Dec-17

218 219

MICHEAL CHINEDU OKOLI ILORI MATTHEW OLUSOJI

300.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

48 49 50

IPAYE OLUTOYIN ATINUKE MOJEKWU IFEANYI PATRICK

1,000.00 PTA 5,000.00 BTA

360.00 4-Dec-17 360.00 4-Dec-17

134 135

CHUKWUMA ANTHONY IKE ST MICHAEL LANE NKPOGU PHC

1,026.68 PTA 2,288.53 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

220 221

LEO CHIEDU CHIEJINA FAMOROTI MAKANJUOLA

4,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

ALUYOR EMMANUEL OSIKHUEMEH

4,000.00 PTA

360.00 4-Dec-17

136

ANOFIENAM ANTHONY ONYESHINYE

8,500.00 SCHOOL FEES

360.00 7-Dec-17

222

FAMOROTI OLAYINKA

4,000.00 PTA

360.00 8-Dec-17

51 52

OKORONKWO IHEANYI EZEAKABEKWE OBINNA

4,000.00 PTA 5,000.00 BTA

360.00 4-Dec-17 360.00 4-Dec-17

137 138

ABIA STATE HOUSE OF ASSEMBLY AFRIJET AIRLINES MURTALA M A

3,705.35 SCHOOL FEES 14,012.96 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

223 224

UGBO FELICITAS TAIWO KUKU RASHIDI OLUWASEGUN

1,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

53 54

AIGBOKHAN EHIREMEN PETER OGOH JAPHET LOTACHUKWU

5,000.00 BTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

139 140

16 TINUBU ST ISOLO NIGERIA NIGERIA 9, ADEBISI OKUWA-OLADAPO STR MAGODO

3,438.96 SCHOOL FEES 10,000.00 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

225 226

CHIMA OKWUDIRI EMMANUEL OGUAMANAM CHIBUZO UCHENNA

2,200.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

55 56

DATUBO-BROWN IBELEMA ALAERE I DATUBO-BROWN IBELEMA ALAERE I

2,600.00 PTA 250.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

141 142

UDOM U INOYO CLARA T UROMBO

15,000.00 SCHOOL FEES 9,620.00 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

227 228

OBIOHA ATHANASIUS NDI NNAMDI EGBUNNA CHIBUIKEM

4,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

57 58

ANGYA CHARITY ASHIMEM ANGYA PAUL TAVERSHIMA

4,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

143 144

JOE IGBOKWE JOE IGBOKWE

3,500.00 SCHOOL FEES 3,500.00 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

229 230

OKODASO JIM EJOVI OKODASO VERA EDIRI

5,000.00 BTA 5,000.00 BTA

360.00 8-Dec-17 360.00 8-Dec-17

59 60

MEMEH IWEWEZILEM SHIMRITH IKPEBE ENE PATRICIA

1,500.00 PTA 200.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

145 146

GODSTIME O EGESIMBA VICTOR O OKAFOR

14,790.00 SCHOOL FEES 3,022.00 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

231 232

NNAJI NGOZI JULIANA WILLIAM OLUSEGUN OLUSOJI

4,000.00 PTA 2,700.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

61

OGUNTADE EMMANUEL SEGUN

2,500.00 PTA

360.00 4-Dec-17

147

OJETUNDE OLUTOLA OLABISI

1,577.03 SCHOOL FEES

360.00 7-Dec-17

233

SALIHU JUMAI

4,000.00 PTA

360.00 8-Dec-17

62 63

OKOLIE HENRY OBIAJUNWA STANLEY IBEAWUCHI

2,000.00 PTA 700.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

148 149

MOBIL PROD. NIG. ULTD. BRT NIGERIA 7 OJO PETERS STREET VICTORY ESTATE

14,301.34 SCHOOL FEES 15,000.00 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

234 235

LADAN HENRY UBANDOMA SHOKUNBI KAYODE

2,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

64 65

ADEKEYE GANNY TUNDE ADEGBOYEGA OVIA OKPETE FELICITY

4,000.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

150 151

BLOCK 15 NO 24 ALABA NO 22 USUMA STREET

2,160.00 SCHOOL FEES 3,031.00 SCHOOL FEES

360.00 7-Dec-17 360.00 7-Dec-17

236 237

GAMBO TIJJANI ABDULKADIR ENWESI HENRY UZOR

4,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

66

OVAI N'AVI MELEKH

4,000.00 BTA

152

KALU-BAZUAYE UGONMA UBA

4,000.00 PTA

238

ABAYOMI FOLUKE OLABISI

3,000.00 PTA

2,000,000.00 REMIT. OF TKT SALES FROM 1ST -15TH NOV 2017 1,000.00 PTA

AMOUNT (US$) PURPOSE 29,924.80 18 880 MT SLES

10,000.00 SCHOOL FEES

AMOUNT (US$) PURPOSE 4,000.00 PTA

RATE DATE 360.00 7-Dec-17

1,300.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

850.00 PTA 500.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

67

SOLADE OLUBUKOLA OLUBOLA

3,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

153

OGUNNIRAN PEGGY EDORE C

4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

239

OSELEBE HAPPINESS OGBA

4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

68 69

KAREEM MUIDEEN OYETUNDE-ABUBAKAR HABIBAT SOLA

1,700.00 PTA 4,000.00 PTA

360.00 4-Dec-17 360.00 4-Dec-17

154 155

MOMODU CHIKODILI JUDITH ADEBAYO IYABOSOLA TITILOPE

1,000.00 PTA 1,500.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

240 241

EGWU MONICA NWACHOKO ADEDIPE LOLADE OMOYEMI

1,000.00 PTA 2,500.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

70 71

IPAYE OLUTOYIN ATINUKE AMAEZE CHIDINMA KEVIN

598.31 PTA 2,675.20 PTA

360.00 4-Dec-17 360.00 4-Dec-17

156 157

OWEN EKPE CHAMBERLINE OWOLABI VERONICA OLATIMBO

4,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

242 243

AKINRINWA SADURA PRINCILLA AYODELE SAMUEL OMOLOLU

3,200.00 PTA 1,300.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

72

OPARA AHUNNA NNEKA

3,996.47 PTA

360.00 4-Dec-17

158

JAIYEOLA LUCKY ADESINA

4,000.00 PTA

360.00 7-Dec-17

244

MRS EMEM ISANG

4,000.00 PTA

360.00 8-Dec-17

73 74

EKURE OCHUKO FESTUS LAWAL-AKAPO LATEEF BABAJIDE

406.68 PTA 3,389.03 PTA

360.00 4-Dec-17 360.00 4-Dec-17

159 160

IGWE SAMUEL CHUKWU CBN

4,000.00 PTA 344,373.64 UNUTILIZED IMTO TRANSFERRED TO CBN

360.00 7-Dec-17 357.00 7-Dec-17

245 246

BEN ARIKPO AKPODJE GODWIN ENUVIE

4,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

75 76

ARS NIGERIA LTD STALLION MOTORS LTD

306.30 4-Dec-17 315.50 5-Dec-17

161 162

CBN KRESTA LAUREL LTD

377,895.18 UNUTILIZED IMTO TRANSFERRED TO CBN 64,861.84 ELEVATORS SOI KTOC

357.00 7-Dec-17 360.50 7-Dec-17

247 248

AKPODJE NNENNA JOY AIGBOJE EMMANUEL INI

4,000.00 PTA 4,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

77 78

AKINOLA JOHNSON OMOLADE EKOH OHWOMUNO IDOGO

4,000.00 PTA 1,700.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

163 164

ARISTON ARISTON

62,333.96 ENAMELLED WATER HEATER 107,101.04 WATER HEATERS & SPARE FOR WATER HEATER

361.00 7-Dec-17 361.00 7-Dec-17

249 250

OKAFOR GODSON OKWUCHUKWU ARINZE UMOBI CAROL UGO

2,000.00 PTA 1,700.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

79 80

OGUH MARY OMOSIBOH ALEMOH= NGULDE ALI SALIHU

4,000.00 PTA 4,000.00 PTA

360.00 5-Dec-17 360.00 5-Dec-17

165 166

PROMASIDOR SALOME GARBA HADIZA

550,134.00 MIKSI FAT-FILLED MILK POWDER INSTANT FORTIFIED 4,000.00 PTA

360.50 7-Dec-17 360.00 7-Dec-17

251 252

EDDO OMOLOLA ANTHONIA NDUKA CHINAKA ETHELBERT

806.28 PTA 2,000.00 PTA

360.00 8-Dec-17 360.00 8-Dec-17

81 82

ADEMOYE RASAQ BAMIDELE CBN

3,899.61 PTA 283,212.39 UNUTILIZED IMTO TRANSFERRED TO CBN

360.00 5-Dec-17 357.00 5-Dec-17

167 168

EZEADINA TITUS CHINEDU SENAMI JOHN JUWON

360.00 7-Dec-17 360.00 7-Dec-17

253 254

ADEJOH CYPRIAN ADEMU OGUNWALE OLUTOYIN OLUFUNMILAYO

3,995.01 PTA 1,350.90 PTA

360.00 8-Dec-17 360.00 8-Dec-17

83

CBN

331,148.65 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 5-Dec-17

169

ATUCHUKWU KENECHUKWU

4,000.00 PTA

360.00 7-Dec-17

255

INEGBENEBOR ANTHONY O

2,708.00 PTA

360.00 8-Dec-17

84 85

MANUCHAR TRADING INTL MANUCHAR TRADING INTL

98,106.01 CAUSTIC SODA 106,964.39 2000MT SODA ASH DENSE

360.50 5-Dec-17 360.50 5-Dec-17

170 171

UMOREN NKANGA RITA AFOLABI OLUSEYI AFOLAKE

4,000.00 PTA 4,000.00 PTA

360.00 7-Dec-17 360.00 7-Dec-17

256

SOLPIA NIG LTD

86

MANUCHAR TRADING INTL

360.50 5-Dec-17

172

AWOYELU ELUYINKA JOHN

4,000.00 PTA

360.00 7-Dec-17

100,000.00 ARTIFICIAL RESINS 111,766.85 TRUCK CKD KITS (ASHOK LEYLAND

66,346.56 5000MT SODIUM SULPHATE

5,000.00 BTA 1,000.00 PTA

144,236.00 ARTIFICIAL FILAMENT TOW

360.50 8-Dec-17

SOURCES OF FOREIGN EXCHANGE AS AT 8TH OF DECEMBER 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN CBN AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

www.ubagroup.com

AMOUNT (US$) 300,000.00 76.67 89.49 1,200.00 320.00 1,112.00 375.00 111.50 913.26 335.00 990.00 2,100.00 61.15 138.24 490.00 852.50 2,020.00 249.01 535.00 136.59 100.00 3,982.62 720.00 340.00 100,000.00 470.00 723.08 200.00 249,641.27 2,968.18 274,529.63 2,894.29 133.61 293.94 53.44 234.62 390.64 132.21 117.31 35.19 105.58 3,000,000.00 2,000,000.00 1,011,000.00 15,000.00 30,000.00 277.15 290.00 186.31 419.11 4,032.00 1,475.00 2,000.00 524.42 990.00 130.22 230.00 500.00 1,600.00 500.00 500.00 40.00 3,455.00 230.00

RATE 315.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 307.25 314.00 314.00 314.00 355.00 355.00 355.00 354.67 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 357.00 357.00 359.50 307.10 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00

DATE 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 4-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17

S/N 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO

AMOUNT (US$) 336.27 134.51 134.32 100,000.00 407,643.31 279,840.99 3,371.40 327,547.65 3,601.00 401.85 653.68 46.99 528.66 1,515.49 117.48 134.26 352.44 1,749.56 76.37 2,731.41 2,707.01 229,299.36 16,000.00 99,000.00 128,200.00 1,199,965.00 2,109,473.00 48,000.00 300,000.00 80.00 222.00 317.87 162.00 17,000.00 75.84 70.00 1,250.00 120.00 450.55 1,473.34 15.00 71.50 56.34 1.40 617,831.38 7,160.33 717,370.46 7,637.45 133.64 13.36 164.32 1,286.97 234.74 319.25 211.27 234.74 58,700.00 21.76 10,000.00 6,240.75 340,227.52 4,146.12 373,755.18 4,140.00

RATE 314.00 314.00 314.00 314.00 314.00 355.00 355.00 355.00 354.72 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 358.00 359.00 359.50 359.50 359.00 318.00 320.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 354.99 355.00 355.00 355.00 355.00 354.59 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 359.00 314.00 314.00 314.00 355.00 355.00 355.00 354.63

DATE 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 5-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 6-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17

S/N 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 539.90 52.69 58.54 220.70 643.94 585.40 95,000.00 169,435.00 196,000.00 3,999,965.00 100.98 33.41 215.71 300.00 72.34 1,375.00 475.00 490.60 350.00 491.07 477.49 3,500.00 194.18 876.64 265.00 10,000.00 50,000.00 531.20 548.46 118.37 291.73 1,101.00 2,295.00 315.00 11,900.00 12,100.00 60,000.00 380,000.00

RATE 314.00 314.00 314.00 314.00 314.00 314.00 359.50 360.00 359.10 359.50 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 358.00 358.00 359.00 359.00

DATE 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 7-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17 8-Dec-17

Africa’s global bank

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BUSINESSWORLD

INSURANCE

Redefining Life Insurance in Nigeria Ebere Nwoji looks at recent moves by new generation insurance companies, among them, Custodial Life Insurance to package insurance policies that guaranty benefits to the insured while alive Life insurance according to insurance experts unarguably holds the future of insurance sector growth in Nigeria. This is due to its nature as a line of business that affects every body. But despite its all important nature, not many Nigerians have life insurance not even the group life insurance which aside its compulsory status as stipulated by the Pension Reform Act 2004 amended in 2014, different work groups can on their own gather to secure group life or group accident insurance policy for their members. From findings, it has been discovered that one of the factors that scare members of the insuring public away from life policy is the fact that most of the policies sold in Nigeria mature at death, as such after spending their hard earned money to pay the premium for several years, the insured hardly benefits anything while alive rather all efforts is geared towards making provision for his dependents to benefit and keep life going after his death. With this in mind, many people shun life insurance policies. Indeed, many see putting in place life insurance arrangement as signing their death warrant, as such, give it the last consideration in their list of preference. Against this backdrop, modern insurers have determined to redefine the face of life insurance policies by pushing to the market policies that give benefits to the insured at his life time. Indeed, they have gone into earnest search for life policies that will give the insured the opportunity of benefiting from the policy while still alive and even prevent him from dying as well as policies that will improve on their financial wellbeing especially at hard economic times. Recently, Custodian LIfe Insurance Ltd came up with one of such much desired life policies that offer the insured the opportunity of benefiting from the policy while still alive. The company recently launched a product that will enable the insured conveniently seek for adequate medical treatment at home or abroad without turning himself and his household into public beggars in order to get funds for medical treatment. The company, tagged the product “Custodian Critical Illness Insurance Policy (CCIP). The policy, which is the first of its kind in Nigeria, is for those suffering from critical and terminal illnesses such as stroke, cancer, heart attack and Renal failures. The company, which described the product as a stand alone policy of its kind in Nigeria, said launching the product was informed by the present economic and health difficulties in Nigeria to assist millions of Nigerians who are victims of the above illnesses address their health challenges. Currently, the trend in Nigeria is to see people affected by these terminal sicknesses writing to philanthropists, governments at all levels, civil society and humanitarian organisations through agents or non governmental organisations for financial assistance to seek for medical attention outside Nigeria. The amount often sought for by these unfortunate victims ranges from N10 million to N20million but sad enough, many of them give up the ghost before the money was made available by the donors. A case in point is the Veteran comic-actor Moses Olaiya, better known as Baba Sala, who has reportedly suffered a stroke and has sought help from Nigerians. Media reports said that the octogenarian personally made the appeal recently at a briefing on his biography entitled ‘The Triumph of Destiny’. He was quoted to have said: “I need help. Nigerians should help me. I am not dead yet, they should not let me die suffering.� The comedian was reportedly looking frail and required human support to walk. Dele Adejumo, his son, was quoted as saying: “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, Orun Mooru, 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, said his son. Another veteran actor, Sadiq Daba, is said to be currently ill and he recently lamented that it is very expensive to pay for his treatment. Similarly, a number of Nollywood actors, journalists and other public figures have fallen victims of this ugly situation, some got instant help and are alive today while others could not and as such died just like that. This is so whereas among Nigerian neighbors, such public figures especially actors, insure their body parts for millions of dollars against injuries that may affect their uses for future performances. For instance, Gene Simmons (born August 25, 1949) , an Israeli-born American rock bass guitarist, singer-songwriter, record producer, entrepreneur, and actor. Known by his stage persona The Demon, he is the bass guitarist/ co-lead vocalist of Kiss, a hard rock band he co-founded in the early 1970s. With Kiss, Simmons has sold more than 100 million albums worldwide. Reports said he insured his tongue

Currently, the trend in Nigeria is to see people affected by these terminal sicknesses writing to philanthropists, governments at all levels, civil society and humanitarian organisations through agents or non governmental organisations for ďŹ nancial assistance to seek for medical attention outside Nigeria

for $1 million. With this, insurance managers in Nigeria have said that people, especially public figures need not beg to obtain medical treatment at home or abroad if they can put in place adequate insurance arrangement for the unknown and unforeseen. But many Nigerians, often due to religious belief and culture wish away such sicknesses but this has not stopped them from affecting those they want to affect. Custodian life insurance, in developing the critical illness insurance policy said “We are well aware of the current economic, health difficulties in our country today for us at custodian insurance, tough times are for us to get tougher and not use the current climate as a negative block but rather an energising spring-board for new ideas. It is on the back of this that we have launched the critical illness insurance cover which we are confident will assist millions of Nigerians to address their health challenges�, said Larry Ademeso, Managing Director Custodian Life Insurance. According to him, unlike the Group Life Insurance policy which benefits are paid to dependents of the policy holder at his death, in the case of the critical illness insurance cover, the policy holder is six times more likely to claim under his critical illness cover than under the group life cover. “Employers in Nigeria today are required by law to provide group life insurance cover for their employees, that is as far as the story goes , benefits will be paid to your beneficiaries when you would have passed away so what happens if you do not die but become incapacitated by some of the debilitating illnesses ravaging the populace this is why we developed the critical illness cover to meet the yearnings of Nigerians.� According to the Custodian Life insurance boss, the custodian Critical Illness Cover, offers the policy holder added protection and confidence boost to go about his daily activities without fear of possible financial backslash associated with treating a critical illness. He quoted the World Health Organisation as saying that Nigeria has the highest cancer rate in Africa while there is increasing precedence of stroke just as about 10per cent of adult Nigerian population is liable to have heart attack. He listed key features of the product as enhanced protection, coverage against conditions that fall under cancer, stroke, heart attack,

kidney failure. He said the premium paid and benefit received are per the prevailing tax laws, adding that the intending policy holder can choose period of coverage. He said sum assured for the policy is minimum of N1 million while the term is minimum of five years. He also said eligible buyers of the product are people from 20 years to 60 years while the premium is paid annually. According to him, since Custodian is the first company in Nigeria to sell the policy, in future, other conditions that make the policy more attractive and enable those who paid premium many years without claims to be considered. Similarly, Anchor Insurance Company Limited, recently launched its innovative and unique life insurance product tagged Anchor Loss of Employment Insurance scheme, popularly referred to as AnchorLoEIS. The Chairman, Board of Directors, Anchor Insurance Company Limited, Dr. Elijah Akpan, at the event in Lagos which attracted captain of industries, Bank Chiefs, co-operative unions, insurance practitioners, insurance brokers, employers of labour, employees and the insuring public, revealed that in launching the product, the company targeted at addressing a real kitchen table issue for families all across Nigeria. We have an opportunity and a responsibility to innovate and create an insurance scheme to protect employees’ employment income and in doing so to provide a measure of financial stability to millions of Nigerians who may be laid off in the most difficult economic time. We have the opportunity and the responsibility as an organisation to provide peace of mind to families who may be left in the ditch without a job and nowhere else to turn to,� he stated. Also Wapic Insurance Plc, recently championed the course of encouraging Nigerians to cultivate good savings culture with its array of SMART Products targeted at not only giving competitive interest rate to consumers but also offering free life insurance cover to savers. The Managing Director of Wapic Life Insurance, Rantimi Ogunleye, explained how savings through the company’s various smart products work stated: “So here’s how it works; you want to save towards a short term goal, you choose the plan that works for you depending on your need. An account is then created for you and you save monthly. Now for the period of your plan you have life insurance cover!.�

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BUSINESSWORLD

NEWS

Ericsson: Global 5G Subscriptions to Hit One Billion in 2023 Emma Okonji Following the increased adoption rate of 5G technology, based on its high speed of connectivity and reduced latency period, Ericsson has predicted a huge rise in the global adoption rate of 5G subscriptions for enhanced mobile broadband, which it said, would reach one billion by 2023. The prediction is among the key statistics presented in the current November edition of the Ericsson Mobility Report that was released weekend. Expected to be deployed first in dense urban areas, the report said 5G would cover over 20 per

cent of the world’s population by the end of 2023. The 5G technology is an improvement on 4G LTE technology, which was introduced after 2G and 3G technologies respectively. The first commercial networks based on 5G New Radio, are expected to go live in 2019, with major deployments from 2020. Early 5G deployments are foreseen in several markets, including the US, South Korea, Japan and China. Analysing the report, the Chief Strategy Officer and Head of Technology and Emerging Business at Ericsson, Mr. Niklas

Heuveldop, said although African countries, including Nigeria were yet to adopt 5G technology, but he was assertive that Africans would soon begin to adopt the new technology, because of its ease of deployment, since all 5G base stations will eliminate the digging of roads to lay fibre optic cables, in addition to its speed of data connectivity and reduction in latency period. According to the Ericsson Mobility Report, global mobile data traffic would surpass 100 Exabytes per month in 2023, while mobile data traffic is expected to surge by eight

times during the forecast period, reaching110 Exabytes per month by 2023. This corresponds to 5.5 million years of High Definition (HD) video streaming. All regions will maintain mobile data traffic growth, with North America showing the highest average usage per smartphone, exceeding 7GB per month by the end of 2017. Video consumption will continue to fuel mobile broadband traffic growth. The driving force behind video’s uptrend are the young millennials, those in the 15 to 24 age bracket, who stream 2.5X more than those over 45 years of age, the report said.

It added that streaming video in higher resolutions and an emerging trend of increased streaming of immersive video formats, such as 360-degree video, would have an impact on data traffic consumption volumes. Addressing LTE deployments, the report said by the end of this year, LTE will be the dominant mobile access technology. It is estimated to reach 5.5 billion subscriptions and cover more than 85 per cent of the world’s population by the end of 2023. Voice over LTE (VoLTE) has been launched in more than 125 networks in over 60 countries

across all regions. VoLTE subscriptions are projected to reach 5.5 billion by the end of 2023, accounting for more than 80 per cent of the combined LTE and 5G subscriptions. According to Heuveldop, “The latest report highlights trends in mobile subscription and data traffic growth, as well as the industry’s effort to tackle the increasing demands on mobile networks globally. The report also featured three articles on rising industry trends to include: Shifting mobile data plans; Enhancing event experience, and Millennials’ expectations for 5G.

Expert Advocates Electronic Voting System for Credible Elections Emma Okonji In order to address all contentious issues that arise during elections, technology expert has called on African leaders, including Nigeria, to adopt electronic voting system in future elections. Lead Programmer for @SW eVS2015, Mr. Gene Oghenenohwo Otomewo, who spoke to THISDAY on the need for electronic voting system, said the idea would help Nigeria and other African countries, have free, fair, credible and non-controversial elections in the future. According to him, no balloting, for instance in Nigeria, has been spared of being allegedly tainted by a series of malpractices. Not even the June 12, 1993 presidential election, widely acclaimed to be Nigeria’s first free and fair election, was said to be credible in the opinion of critics. He said controversies have also trailed the outcomes of the Gubernatorial, National and State Houses of Assembly re-run elections held in Nigeria in the last two years. He therefore called on the Independent National Electoral Commission (INEC) to adopt electronic voting system in order to achieve free and fair elections in the next general elections coming up in 2019. To help Nigeria and the rest of African countries achieve electronic voting system, Otomewo said his team of software programners developed ‘Electronic Voting Platform’, which is a digital voting solution that allows voters to vote via SMS. According to him, the

‘Electronic Voting Platform’ has become the world’s most advanced electronic voting system that no country had ever used. He said not even the so-called advanced democratic countries have found it necessary to implement digital voting solutions that would require an SMS technology, thus making the digital solution proudly Nigerian. Speaking on how the digital solution works, Otomewo said every position being contested for, would have a code such as ‘A’ for President and ‘B’ for Governor, and that a simple alphabetic filter would be employed to aid coding. Every eligible voter’s phone number together with the passport photo is registered on the platform. On the voting day, every registered voter will undergo a two-stage accreditation process via SMS, and only successfully accredited voters can vote on election day via SMS. He said the digital voting platform would eliminate most challenges in electoral process and also save government from declaring public holidays during election period, as the system would allow people to vote at their convenience from the comfort of their homes and offices. He said the system is completely tamper-proof, completely hacker-proof and completely secured. “With the digital solution, election results are automatically and instantly processed and displayed on a screen as votes come in via SMS, and votes are immune to any form of remote electronic and physical attacks, thereby making the entire voting process, highly credible,� Otomewo said.

ANNIVERSARY CELEBRATION

L-R: Chairman, Great Place to Work (GPTW), Ghandi Olaoye; Managing Director, GPTW, Akanimo Egong; Director, GPTW, Wura Abiola; Founder, GPTW, Kunle Malomo, and Chief Financial OďŹƒcer, GPTW, Michael Tosin-Oni Martins, during the ďŹ ve years anniversary dinner of GPTW, held in Lagos ... recently

5,000 Tonnes Cashew Nut Plant Inaugurated in Kwara Raheem Akingbolu The 5,000 tonnes per year cashew processing factory established by FoodPro Limited in Ilorin, Kwara State has been unveiled. Speaking after a guided tour of the plant, Vice-President Yemi Osinbajo said he was extremely impressed by the factory and the commitment to adhering to global standards. He expressed the government’s resolve to support the private sector with policies that would aid local businesses. He was accompanied to the factory by the governor of Kwara State; Abdulfatah

Ahmed; Minister of Information and Culture Lai Mohammed; Executive Director of the Nigerian Export Promotion Council (NEPC), Olusegun Awolowo, and the Executive Director of the Bank of Industry, Waheed Olagunju. Co-Founder/ CEO of FoodPro Limited, Ayo Olajiga, who guided the Vice President on the tour of the factory, explained the different stages of the cashew processing, from sizing and boiling, shelling and scooping, to drying and peeling and finally grading and packaging. Olajiga said: “Through domestic processing of raw cashew nuts, we have created

more than 400 direct jobs and several thousand indirect jobs for farmers, vendors, suppliers and artisans, who form the heartbeat of FoodPro’s value chain. With 90 per cent of FoodPro’s employees being women, we are humbled by the role we play in impacting communities and improving economic and social development conditions in our host community.� He stated that the importance of cashew processing to economic development cannot be overemphasized, stating that it creates sustainable jobs and leads to overall increase in the value of the

cashew sector. The co-founder further stated that the management was particularly grateful to the Federal Government of Nigeria, who acted through its agencies; the Nigerian Export Promotion Council (NEPC) and Bank of Industry (BOI), that both contributed to how the dream became a reality. He pointed out that over the years; NEPC under the leadership of Mr. Awolowo has worked relentlessly to help FoodPro gain valuable market access via local and international trade shows in Vietnam, the United Arab Emirates and the United States of America.

Customs Impounds 64 Vehicles, Smuggled Rice Values at N1.6bn Eromosele Abiodun The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja, Lagos, has announced that it intercepted 22 truckloads of foreign parboiled rice with 64 units of vehicles smuggled into

the country from neighbouring countries. Customs Area Controller (CAC), Federal Operations Unit, Zone A, Muhammed Uba Garba disclosed this while parading newsmen around the seized items in the warehouses.

The rice, according to the CAC, has a Duty Paid Value (DPV) of N164million while the vehicles have a value of N1.3billion. He said: “After intensifying our operational modalities to meet up with the current smuggling tactics most espe-

cially as the Yuletide draws closer, we have intercepted contraband with a Duty Paid Value (DPV) of over N1.6billion. “The seized items include 64assorted vehicles (mostly brand new), 13,333 bags of foreign parboiled rice (that’s

like 22 trailers), 1,390 cartons of frozen poultry products, 835 jerrycans of vegetable oil, 15 parcels of Indian hemp, 1,101 pieces of used tyres, 205 bales of used clothing among others.� Garba stated that the service would enforce federal govern-

ment policy on importation of vehicles and rice through the land borders to encourage local production. “We need to support the federal government policy on rice, encourage local rice farmers, the millers and patronise our nutritional rice,� he said.

T H I S D AY WEDNESDAY DECEMBER 13, 2017

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EDUCATION Exploiting France-FUNAI/Nigeria Collaboration for Educational Devt

Theessenceofcollaborationbycountriesorinstitutionsisgearedtowardsdevelopment as can be seen in the France-FUNAI/Nigeria partnership, writes Amby Uneze

From left: Prof Chinyere Azikiwe; VC FUNAI, Prof. Chinedum Nwajiuba; French Ambassador, Mr. Denys Gauer; and HOD, Languages, FUNAI, Dr. Nnenna Nwosu-Nworuh (right) during the ambassador’s visit to the institution‌ recently

When the Federal University, Ndufu-Alike, Ikwo (FUNAI), Ebonyi State few years ago initiated the idea to partner the French Government in assisting the institution in training its manpower (lecturers) to improve their academic pursuits, little did it realise the enormity of the dividends it would harness in that project. The programme which came to fruition through the signing of a tripartite agreement in January 2016 between FUNAI, Tertiary Education Trust Fund (TETFund) and the French Government has opened doors not only in the education sector, but in the collaboration of other areas. This was testified by the Governor of Ebonyi State, Dave Umahi during the courtesy visit by the French Ambassador to Nigeria, Mr. Denys Gauer to the Governor’s Office in Abakaliki recently. He expressed delight about the visit of the French Ambassador to the state for the first time. Explaining the reason for the linkage of the young university of about seven years, struggling to develop and catch up with the realities of what it takes and means to be referred to as a university, the Vice-Chancellor, Professor Chinedum Nwajiuba said “it was to ensure that proper university culture is instituted by opening up to respected institutions and linkages that would ensure a world-class university of the founder’s dream.� This action led it to enter into partnership with the Embassy of France in Nigeria. Nwajiuba stated that the partnership with the Embassy of France would offer the university an opportunity that would define many aspects of the institution. “We have opportunity to raise a new generation of quality academics who will determine the character of our university. Towards this, we have opportunity to send to France 35 academics for masters and doctoral training this year. We intend to continue along this line in the future, while we work towards developing other forms of training and research collaborations.� On why the institution chose France for the collaboration, the vice-chancellor maintained that France being a major world power, has many quality universities, adding that exposure to the university system in France would

bring numerous advantages to the staff. “Further, the cost of training is affordable compared to some other OECD countries. Then, after graduation, France offers excellent opportunities for her alumni to relate and therefore benefit their future career. “There are many other expected future benefits of our relationship. We live in a world that has come closer as a result of globalisation and technologies. Nigeria is surrounded by French-speaking countries. At the ECOWAS and AU levels, we have opportunities of better association and relationships that can emerge with staff trained in France. FUNAI plans to attract foreign students starting with our neighbour- Cameroon. Last year, we hosted a guest lecturer from a University in Bamenda and we plan to embark on publicising FUNAI in the Republic of Cameroon next year. “A world-class university must not only have diversity of faculty, but also of students. We believe that a critical number of staff trained in France will support our internationalisation plans. French is the major language of diplomacy and we see important advantages in FUNAI as a centre of excellence. We believe that we are emerging as a noted place for the study of French Language in Nigeria. Despite our young age, we rank among universities with the most robust collection of French literature and books in Nigeria and we have plans to establish a French Village here in FUNAI,� the VC stated. While it is obvious that FUNAI is laying the foundation for a green campus that is able to contribute to climate change adaptation and mitigation, over 5,000 trees have been planted in the last one year and currently all street lights on the FUNAI campus are solarpowered. The management of the institution had decided to make all new development green-compliant. The visit of the French Ambassador to FUNAI did not only capture agreement in education, it also gave the opportunity for the ambassador to highlight other achievements in the area of trade and economic policy of the French Government. France-Nigerian diplomatic relations are improving by the day which brought trade increase between the two friendly countries to amount to over N750 billion (1.8 billion Euros) in the first

quarter of 2017. Efforts are also being made to develop more economic exchanges to the benefit of both nations. This was revealed by Gauer. The ambassador stressed that Nigeria happens to be France’s first commercial partner in Sub-Saharan Africa, adding that recently, BusinessFrance, an agency in charge of assisting French companies abroad opened an office in Lagos to strengthen the effort. Delivering a lecture titled ‘The Influence of French and Francophone Policies in Nigeria’ held at the University Auditorium in a programme of the FUNAI)- French Government collaboration, the ambassador described Africa as a land of economic opportunities, hence the launch in 2013 of the AfricaFrance Foundation meant to encourage the deepening of economic relations and the development of human capital. He maintained that France’s relationship with Africa and Nigeria in particular covers a wide range of areas from security through human rights and development to business, adding that in a globalised world all countries face the same challenges, so “it is a common responsibility to turn them into opportunities rather than letting them degenerate into threats.� “Thirty-seven per cent of France’s 8.6 billion Euros aid goes to Sub-Saharan Africa, making it the first recipient of our funding. The French Development Agency has been active in Nigeria for 10 years only, but its activity has been expanding rapidly. In 2017 alone, it will have invested around 350 million Euros – that is approximately N150 billion- in this country, mostly soft loans to both the federal and state governments and the private sector. “We have been working, among other things on; improving energy and water infrastructure through the Transmission Company of Nigeria (TCN) and the Urban Water Sector Reform Programme; providing better transportation by renovating more than 1,000 kilometres of rural roads and funding the Lagos Bus Rapid Transit System; and helping the small and medium sized enterprises through credit facilitation, in relation with the Development Bank of Nigeria and Access Bank,� he said. On France’s partnership with FUNAI, the ambassador noted that his interest was

to have an exchange with students of the university since the youths remain the key to cope with those challenges so that they can also seize the opportunities to overcome such threats. He expressed delight that it was the partnership the university initiated with the French Embassy that had made the visit possible, indicating that over the past two years of the partnership, the French government had awarded 35 scholarships to students and staff of the university to pursue masters or doctorate degree programmes. “Through an agreement signed in January 2016, FUNAI, TETFund and the French Government have delivered or are about to deliver 35 scholarships, enabling as many trainees to pursue master or PhD studies in the best French universities in Paris, Marseille, Toulouse, Strasbourg, Dijon or Grenoble. The first group of students and junior lecturers have already left, and two others will soon follow. In a few years, they will come back to contribute to the development and success of this university and beyond. “You may not know that 250,000 foreign students choose France every year, of who 100,000 hail from Africa. We are the fourth host country in the world and the first for African students. Yet, only a handful comes from Nigeria. It is all the more gratifying to see that FUNAI has decided to send its promising staff-in-training to France. And it makes a lot of sense because in France, you can study engineering, mathematics, humanities or social sciences at the highest level and at the same time learn the language of your francophone neighbours,� Gauer stated. In his remarks, Nwajiuba said the visit of the French Ambassador to his institution was highly valued and would be recorded as a significant event in the history of the university and therefore was regarded as the seal of the partnership between the university and the French Government. The facilitator of the programme, Dr. Nnenna Nwosu-Nworuh, who is also the Head, Department of Languages, said she was excited about the visit, adding that it was her dream come true and commended the vice-chancellor for ensuring that the institution maintains excellence in academics and morals.

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EDUCATION

Petroleum Varsity Plans to Mass Produce Lightweight Automobile Engines Sylvester Idowu in Warri The management of the Federal University of Petroleum Resources (FUPRE) has expressed its readiness to go into the mass production of affordable four wheel lightweight engine automobiles that would displace the three-wheel commercial mobilets, popularly known as Keke-NAPEP from the Nigerian market. The Vice-Chancellor, Prof Akii Ibhadode, who made this known at the inauguration of the Shell Professorial Chair in Lightweight Automobile Engine Development at the

school auditorium, said the institution has the capacity to develop an engine with the potential of consuming less fuel for commercial purposes. According to him, the institution’s capacity of producing lightweight automobile that depend less on fuel had been put to test at the various Shell Eco Marathon competitions in South Africa where the university participated in three editions and came first at the first attempt and later came second in subsequent editions. “FUPRE today is the most successful Nigerian university in the annual African Regional

Shell Eco-Marathon competition where participating institutions race their designed and built fuel efficient cars. Our outstanding accomplishments in the three editions that we have participated have earned us both national and international recognitions. “We will like to acknowledge with thanks a grant of N7.2 million from SPDC towards the university’s participation in the 2017 Shell Eco Marathon competition in South Africa in October, 2017 and we will also be recognising the brilliant contribution of some of the students who distinguished

themselves in the competition in order to motivate other students to emulate these worthy ambassadors.� The VC added: “FUPRE is an intellectual goldmine yet to be explored to its full potential. I therefore extend hand of fellowship or partnership to all corporate and public spirited well-meaning individuals to come to Macedonia and help in the realisation of our vision and dream.� He also announced that the bill establishing the institution has finally been assented to by President Muhammadu Buhari, thereby making the institution

a legal entity recognised and backed by the law of the Federal Republic of Nigeria. “We have since sent our heartfelt gratitude to Mr. President on the epochal signing of the bill and the management of the university has also set in motion the modalities for pursuing prompt implementation of the act, which include setting up a committee. The Managing Director/ Country Chair of SPDC JV, Mr. Osagie Okunbor, represented by Dr. Alice Ajeh, noted that FUPRE, one of the six active SPDC professorial

chairs in universities across Nigeria, has shown Nigerian students’ capacity for global competitiveness, citing its performances in the Shell Eco-Marathon competition in the past three years. He pointed that the gesture goes to prove the company’s commitment to growing “local content and encouraging responsible energy usage. “It is a chance to harness the vast and untapped opportunities existing within the value chain of Nigeria’s fast-growing automotive industry and to gainfully engage our talented youths.�

Victims Support Fund to Reconstruct Taraba School with N1.2bn Kasim Sumaina in Abuja In line with its intervention in the Boko Haram troubled north-eastern part of the country, Victims Support Fund (VSF) has disclosed that it will spend N1.2 billion to reconstruct the damaged Government Secondary School, Takum in Taraba State. It said the project would be completed in the next six months, adding that it will be one of the biggest to be handled by the fund. The Executive Director, Dr. Sunday Ochoche announced this while signing a Memorandum of Understanding (MoU) with the representatives of Development Africa (DA) and the Taraba State Government in Abuja. He disclosed that the school is such a strategic school that has served the educational needs of not just Taraba but a number of neighbouring states, including Benue and even children from across the international boundary of Cameroon. “This school was destroyed during one of the crises in Taraba State. The Victims Support Fund was approached and we took a look at it and decided

to assist. We are trying to put in place a better facility than what was in place. This project will cost about N1.2 billion and should be completed in not less than six months. “The project was also in line with VSF’s priority of revamping the education sector in the region and its philosophy of rebuilding better structures and amenities than the ones destroyed. “It was a school so significant for the social development of the local government and the region that was destroyed during one of the crises in Taraba. It has been quite some struggle on the part of the state government to try to give some monicum of recovery to the place to enable children reuse those facilities. “The efforts have reached a point that they required significant input from elsewhere and we have been approached by the state government to assist with it.� Ochoche added that the fund would work closely with all the partners and with its consultants and that not later than the middle of 2018, “we would be commissioning the school.�

Remita Fast-tracks 2018 UTME Form Sales Candidates seeking admission into tertiary institutions across the country for the 2018 academic session have the option of purchasing their Unified Tertiary Matriculation Examination (UTME) forms with an electronic payment platform, Remita. To kick off the process, candidates are required to first create their profile by sending their personal details by SMS to the Joint Admissions and Matriculation Board (JAMB’s) short code, 55019. They will then receive a 10-character confirmation code with which they will then procure an ePIN. The candidate will then visit the Remita website where further instructions will be communicated to precede payment by debit/credit card, internet banking, Remita partners, designated agents and select CBT centres nationwide. Once payment is completed, the ePIN is delivered to the candidate’s phone number

and also displayed on the Remita receipt. According to the Chief Commercial Officer of SystemSpecs, owners of Remita, David Okeme, “with this development, candidates of the 2018 UTME would have a seamless experience buying their forms. Remita guarantees they can get their PINs round-the-clock at their convenience.� Candidates can also buy their ePIN from JAMB’s website and select Remita as the payment method. They will then proceed to pay using the channel most convenient for them. JAMB commenced the sale of UTME forms on December 6, 2017 to terminate on February 6, 2018. At a recent stakeholders’ meeting, the Registrar, Prof. Is-haq Oloyede said: “Having examined that all logistics are put in place for a smooth exercise, management would strictly adhere to the sale period.

L-R: The Chairman, Corona Schools Trust Council, Mr. Adedotun Sulaiman; Chief Executive OďŹƒcer, Corona Schools Trust Council, Mrs. Adeyoyin Adesina; a board member, Mr. Niyi Yusuf; and the Principal, Corona Secondary School, Agbara, Mrs. Chinedum Oluwadamilola, during the school’s 2016/2017 academic year’s speech and prize-giving day to mark its 25th anniversary in Agbara‌ recently

MOUAU Graduates 4,958 Plagiarism, Kidnapping with 98 First Class, Marks Should Share Similar Silver Jubilee Penalty, Says Don Emmanuel Ugwu in Umuahia It was a memorable occasion for staff and students of Michael Okpara University of Agriculture, Umudike (MOUAU), as well as graduating students, their families, friends and well-wishers as the institution marked its 25th anniversary with a record 98 first class graduates. The 98 were among the 4,958 students that graduated at the 8th convocation ceremony cum silver jubilee of MOUAU, out of which 1,497 bagged second class (upper division); 2,111 made second class (lower division); 1,276 made third class; while 36 ended their programme with pass grades. Among the first class graduands, Charles Chinedu Nwosu stood out with a Cumulative Grade Point Average (CGPA) of 4.91 to emerge the overall best graduating student. He studied Statistics, and for his reward, the Vice-Chancellor, Professor Francis Otunta announced automatic employment for him. In remarks, Otunta, who assumed duties as VC on March 1, 2016, said his administration,

which is barely 19 months was yet “to record much in infrastructural development due to lack of funds.� He said he met on ground 45 projects that were all tied to needs assessment fund, adding that only 20 of the projects are completed, while 25 are ongoing and in various levels of completion. The VC stated that he has succeeded in bringing the contractors handling the projects back to site following the release of the second tranche of the 2013/14 needs assessment fund amounting to N2,166,963,212.89 or 40 per cent of the total sum. “Based on the challenges of financial inadequacy, this administration is working hard to strengthen its internally generated revenue base,� he said, adding that some eggheads have been constituted into committees “to reinvigorate the productive capacities of revenue yielding units.� On the status of the academic programmes, Otunta said 20 out of the 21 programmes have been granted accreditation by the National Universities Commission (NUC).

Kuni Tyessi in Abuja Worried by the high rate of plagiarism in the country’s education system especially in tertiary institutions, the Secretary-General of the Committee of Provosts of Colleges of Education, Prof. Mojisola Oyarikua, has called for equal sanction for kidnappers and those found guilty of plagiarism. Oyarikua made the call in Abuja at the Tertiary Institutions Central Academic Repository (TICAR) sensitisation workshop for provosts, chairmen committee of dean’s and ICT directors of NCE-awarding institutions, in collaboration with the National Commission for Colleges of Education (NCCE) and Sixgold Technologies Ltd. She said plagiarism, which is copying the scholarly work of another person without proper acknowledgement means ‘kidnap’ in Latin hence the need for offenders to be punished in like manner with kidnappers. While regretting that laziness is the root cause of plagiarism, she said people should be proud to be in the academics and

should be able to do things that will attract good names to them. “Plagiarism should attract imprisonment if possible. It is equivalent to kidnapping. Sanctions against kidnappers should also be applied to those involved in plagiarism. People should be proud to be in academics. These days, people are just lazy and just want to copy other people’s work. � Similarly, the Director of Management Information System in the Aminu Kano College of Islamic and Legal Studies, Mallam Hamisu Abba, said the case of plagiarism has reached a stage that every Nigerian should be worried about. He said if left to continue, it will not augur well for the future of the nation. “Most of the students just copy the work wholesale and when as a teacher you look at the work, you will see that it is the work of someone and not that of your student. You might also notice that the competence of the student is not up to what has been given but then, the work has been submitted to you and that is very serious.

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Two Students Drown in Akwa Ibom River Okon Bassey in Uyo Two male senior secondary school (SSS) students from a private school, Alex Commercial Secondary School, Idua in Eket Local Government Area of Akwa Ibom have reportedly drowned in Qua River. The victims identified as Aniekan Harry from Uruan and Uche Okoli from Eastern Obolo Local Government Areas respectively were among the eight students that allegedly sneaked out of the school compound to the river situated closed to the residence of Senator Helen Esuene. One of the students who were at the beach, Master Owen Oscar, said they decided to go to the river to play following a postponed football match between their school and a rival school. “We all agreed to go to Qua River close to Hospital road to

play causal football. When we finished playing, the victims said they were tired and wanted to swim in the Atlantic Ocean.� He said the decision of the victims to swim in the river was their own, as they were advised against it because of the depth of the ocean and how dangerous it is because of the number of persons that drowned in it. The eyewitness said while six others were watching one of the victims, Okoli jumped inside the ocean while Harry’s legs slipped in the water. According to him, when the victims could not be seen again, the marine policemen and other divers in the area were contacted to help search for them without success only for their dead bodies to float on the water after three days. The Principal of the school, Mr Asuquo Ekong, confirmed that two students drowned in the

river, saying that the victims did not inform the school management of their movement that fateful day. He said a female teacher called him in the night of the incident to break the sad news, stressing that the school authority was not aware of any football match between the school and another. “The school management was not aware of their plan to play football with any rival school, they left the school without the knowledge of the school management,� he said indicating that on the day of the incident, he personally supervised the exams in the school. In her reaction, a relation of one of the victims, Mrs. Mercydonia Harry, alleged that the six students who survived must have gone to the river to initiate the victims into a secret cult, saying that the incident was worrisome and pathetic. Officials of the Eket Divisional

Police were among those that recovered the corpses of the victims for burial three days after. The Akwa Ibom State Police Public Relations Officer, DSP Bala Elkana confirmed the incident, saying that reports had it that the students went to swim in the river. “Police is aware of the incident and the corpses have been recovered.� He advised parents and their wards to be more cautious, adding that parents should monitor the movement of their children “swimming in the river is not a crime but you must be a swimmer to play around the river. “They have their right to go to where they want to go but I advise people to be careful when they go to swim and think about their safety first,� he said, adding that the incident has nothing to do with cultism but they just went to the river to bath.

Former principals and the executives of King’s College Old Boys Association (KCOBA), during the 2017 matriculation ceremony of the college in Lagos‌ recently

Lagos Current Affairs Quiz Contest Produces Winners Funmi Ogundare Ansar-ud deen Senior High School, Surulere has emerged the winner of this year’s Lagos State Schools Current Affairs competition designed to test the knowledge of issues relating to the state, country and world in general. The school represented by Master Isaiah Joseph and Olaniyi Joseph, defeated Lagos State Model College, Kankon to get the star prize. Similarly, Lagos State Model Junior College, Igbonla and Ireti Primary Schools also won in their categories. They received prizes and trophies. Speaking at the programme held recently at the Adeyemi Bero Auditorium, Alausa, the Deputy Governor, Dr. Idiat Adebule expressed delight about the outcome of the competition, saying that it was the decision of the ministry of education to create the diet of quiz competition following observation on the students’ responses to questions posted to them during the Science, Arts and Craft exhibition and talent hunt in May this year. “This administration is happy with the overt display of knowledge by our amiable children in all facets of life- science and technology, humanities; art and craft, but we noticed a gap in

current affairs. Thus, in order to encourage you to break new grounds and soar higher, the government decided to create another diet of quiz competition that is current affairs based.� She said the competition is expected to broaden the students’ horizon from the preliminary levels to the finals and encourage them to break new grounds and soar higher. Adebule admonished them to keep abreast of happenings around the world since it is now becoming a global village, adding “because you stand to learn from scientific, technological, social, economic and political developments the world over to help you in taking informed decision.� The deputy governor urged them to devote more time to academic pursuits so that they can excel and be reliable keepers of tomorrow. She warned them to shun all vices such as hooliganism, rape, examination malpractices, late arrival to school, alcoholism and drug abuse, adding that they are distractions that hold dire consequences in the future. In her remarks, the Permanent Secretary, Ministry of Education, Mrs. Adebunmi Adekanye observed that the standard of questions that the students were asked and the ease with which they answered

them was a testimony that the competition was already achieving results. She told the students that the easiest way to update their knowledge of current affairs is to be news conscious; listen to news and watch educative programmes on local and international radio and television stations, as well as read newspapers, magazines, professional journals and use the social media wisely. She commended teachers and pupils of the various participating schools for their efforts In another development, the state government has inaugurated two coding centres in partnership with 9mobile, an initiative of the ministry of education, designed to make coding education framework accessible to every student in the state. The Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh, who launched the programme at Rabiatu Thompson Memorial Primary School, Surulere, reiterated the commitment of the government to training one million Lagos residents to code. Bank-Olemoh, who was represented by the Director General, Office of Education Quality Assurance, Mrs. Ronke

Soyombo, explained that the CodeLagos is a first-of-its-kind initiative that will enable students in the state to harness, create and leverage on the 21st century opportunities, as well as increase their employment and business opportunities in the technology sector while enhancing the state’s global competitiveness and best practices. “This new initiative is aimed at using technology to drive the economy and infrastructure development of the state as it is envisioned to make Lagos the technology frontier in Africa. It will enable the state government to equip students with the necessary digital skills to meet the growing demand for technology solutions and approach the world of work as problem solvers. By learning to code, students would also enhance their logical reasoning, problem solving and creative thinking skills set, among others.� He said CodeLagos also seeks to teach at least one million Lagos students to code by 2019 and foster necessary skills to create sustainable solutions to social challenges and create employment opportunities. He therefore called on the private sector to continue to partner the government to realise the objective.

Differing Weights Ă™Ă&#x; Ă•Ă˜Ă™ĂĄ ÒÙå Ă?Ă&#x;ĘľĂ“Ă˜Ă‘ Ă“Ăž Ă?Ă?Ă?Ă–Ă? ĂĄĂ’Ă?Ă˜ Ă‹ Ă?ĂœĂ“Ă?Ă˜ĂŽ Ă—Ă‹Ă•Ă?Ă? Ă‹ ÔÙÕĂ? Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ?Ă“Ăœ Ă?Ă’Ă“Ă–ĂŽËŞĂ? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ ÚËĂ?Ă?Ă“Ă˜Ă‘ Ă“Ăž Ùʼ Ă‹Ă? ËŤĂ”Ă&#x;Ă?Ăž ËÎÙÖĂ?Ă?Ă?Ă?Ă˜Ă?Ă?ËŹËœ ĂŒĂ&#x;Ăž Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ Ă‹Ă˜ĂŽ Ă?ĂœĂ“Ă?ÚÖã Ă‹ĂŽĂ Ă“Ă?Ă? ĂŁĂ™Ă&#x; ÞÒËÞ ÞÒĂ? Ă?Ă‹Ă—Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœËœ ÞÒÓĂ? ÞÓ×Ă? ĂŽĂ™Ă˜Ă? ĂŒĂŁ ĂŁĂ™Ă&#x;Ăœ Ă?Ă’Ă“Ă–ĂŽ ÞÙ ÞÒĂ?Ă— Ă“Ă? Ă“Ă˜ Ă?Ă‹Ă?ĂžËœ ĂœĂ&#x;ĂŽĂ? Ă‹Ă˜ĂŽ Ă&#x;Ă˜Ă‹Ă?Ă?Ă?ĂšĂžĂ‹ĂŒĂ–Ă?Ë›

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ĂœĂ?Ă‹Ă–Ă–ĂŁ Ă—Ă&#x;Ă?Ăž ÑÙ˛ Ě™ Ă’Ă? ĂžĂ&#x;ĂœĂ˜Ă?ĂŽ Ă‹Ă˜ĂŽ ĂĄĂ‹Ă–Ă•Ă?ĂŽ Ă‹ĂĄĂ‹ĂŁ Ă“Ă˜ Ă‹ ʎÙÙÎ Ă™Ă? ĂžĂ?Ă‹ĂœĂ?Ěš ĂŁ Ă?ĂœĂ“Ă?Ă˜ĂŽ Ă‹Ă˜ĂŽ Ă•Ă“Ă?Ă?Ă?ĂŽ Ă™Ă&#x;Ăœ Ă?Ă’Ă?Ă?Ă•Ă? Ă“Ă˜ ĂŽĂ“Ă?ÞËĂ?ĂžĂ?Ë› ÙÞÒ Ă™Ă? Ă&#x;Ă? Ă’Ă‹ĂŽ ĂŒĂ?Ă?Ă˜ Ă–Ă“Ă?ĂžĂ?Ă˜Ă“Ă˜Ă‘ Ă‹ĘľĂ?Ă˜ĂžĂ“Ă Ă?Ă–ĂŁ åÓÞÒ Ă‹ĂŒĂ?ÙÖĂ&#x;ĂžĂ? Ă“Ă˜ĂžĂ?ĂœĂ?Ă?ĂžËœ ÞÙ ÞÒĂ? Ă?Ă™Ă˜Ă Ă?ĂœĂ?Ă‹ĂžĂ“Ă™Ă˜Ë› ĂŁ Ă?ĂœĂ“Ă?Ă˜ĂŽ Ă?Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž Ă’Ă“ĂŽĂ? Ă’Ă?Ăœ ĂŽĂ“Ă?Ă‘Ă&#x;Ă?Ăž Ă‹Ăž ĂœĂ?Ë› ËŞĂ? Ă&#x;ĘľĂ?ĂœĂ‹Ă˜Ă?Ă?Ă?Ë› Ă’Ă? Ă“Ă—Ă—Ă?ĂŽĂ“Ă‹ĂžĂ?Ă–ĂŁ ʨÖÖĂ?ĂŽ Ă—Ă? Ă“Ă˜ Ă™Ă˜ ÒÙå ĂœĂ?Ë› ËŞĂ? ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?Ăœ Ă’Ă‹ĂŽ Ă‘Ă™Ă˜Ă? ÞÙ Ă&#x;Ă˜Ă“Ă Ă?ĂœĂ?ÓÞã åÓÞÒ Ă’Ă?Ăœ ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœË› ĂœĂ?Ë› ËŞĂ? ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?Ăœ Ă’Ă‹ĂŽ ĂŒĂ?Ă?Ă˜ Ă˜Ă™ĂžĂ™ĂœĂ“Ă™Ă&#x;Ă? Ă‹Ă? Ă‹Ă˜ ËŠ Ă–Ă™Ă?ÒÙ˪ ̙Ë Ă‘Ă“ĂœĂ– ĂĄĂ’Ă™ ĂĄĂ?Ă˜Ăž Ă™Ă&#x;Ăž åÓÞÒ Ă?Ă&#x;Ă‘Ă‹ĂœĚ‹ĂŽĂ‹ĂŽĂŽĂ“Ă?Ă?̚˛ Ă’Ă? ĂĄĂ‹Ă? Ă‹Ă–Ă?Ă™ Ă•Ă˜Ă™ĂĄĂ˜ ÞÙ ËŠĂŒĂ&#x;ĂŁËŞ Ă’Ă?Ăœ ĂœĂ?Ă?Ă&#x;Ă–ĂžĂ? åÓÞÒ Ă’Ă?Ăœ ËŠĂ?Ă‹Ă˜Ă˜ĂŁËŞ Ă‹Ă˜ĂŽ ËŠĂŒĂ™Ă™ĂŒËŞË Ă? Ă™Ă˜Ă–ĂŁ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă•Ă˜Ă?ĂĄ Ă‹Ă–Ă– Ă™Ă? ÞÒĂ?Ă“Ăœ ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœĂ?ËŞ Ă?Ă?Ă?ËÚËÎĂ?Ă? Ă‹Ăž ËŠ Ă˜Ă“ËŞËœ Ă?âÒËÖĂ?ĂŽË› ĂœĂ?Ë› ĂĄĂ‹Ă? Ă?Ă&#x;ĂœĂžĂ’Ă?Ăœ ĂŽĂ?Ă?Ă?ĂœĂ“ĂŒĂ?ĂŽ Ă‹Ă? Ă‹Ă˜ ËŠĂ‹Ă&#x;Ă˜ĂžĂŁ Ă‹ĂŽĂ&#x;Ă‘ĂŒĂ™ËŞ Ě™Ă‹ĂœĂ?Ă‹ Ă‹Ă&#x;Ă˜ĂžĂŁĚš Ă˜Ă™ĂžĂ™ĂœĂ“Ă™Ă&#x;Ă? Ă?Ă™Ăœ Ă˜Ă™Ă?Ă“Ă˜Ă‘ Ă“Ă˜ĂžĂ™ ÙÞÒĂ?Ăœ Ă?Ă‹Ă—Ă“Ă–Ă“Ă?Ă?ËŞ Ă‹ĘĽĂ‹Ă“ĂœĂ?Ë› ĂĄĂ‹Ă? Ă“Ă˜Ă?Ă™ĂœĂ—Ă?ĂŽ ÞÒËÞ Ă?Ă’Ă? ĂĄĂ‹Ă? ĂšĂ‹ĂœĂžĂ“Ă?Ă&#x;Ă–Ă‹ĂœĂ–ĂŁ Ă“Ă˜ĂžĂ?ĂœĂ?Ă?ĂžĂ?ĂŽ Ă“Ă˜ Ă&#x;ĂšĂŽĂ‹ĂžĂ“Ă˜Ă‘ Ă’Ă?ĂœĂ?Ă?Ă–Ă? Ă™Ă˜ ÞÒĂ? ĂšĂœĂ™Ă‘ĂœĂ?Ă?Ă? Ă™Ă? ÙÞÒĂ?Ăœ åÙ×Ă?Ă˜ËŞĂ? ĂŁĂ™Ă&#x;Ă˜Ă‘ Ă?Ă?Ă—Ă‹Ă–Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜Ë› Ăž Ă?Ă?Ă?Ă—Ă?ĂŽ Ă‹ ĂŒĂ“Ăž Ă–Ă“Ă•Ă? ĂĄĂ‹Ă˜ĂžĂ“Ă˜Ă‘ ÞÙ ĂœĂ?Ă‹Ă?Ă?Ă&#x;ĂœĂ? Ă’Ă?ĂœĂ?Ă?Ă–Ă? ÞÒËÞ Ă’Ă?Ăœ Ă™ĂĄĂ˜ ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœĂ? ĂĄĂ?ĂœĂ? ĂŒĂ?ĘľĂ?Ăœ Ă™Ăœ ĂŽĂ™Ă“Ă˜Ă‘ ĂŒĂ?ĘľĂ?ĂœË› Ă? Ă?Ă™Ă&#x;ĂœĂ?Ă?Ëœ Ă’Ă?Ăœ Ă“Ă˜ĂžĂ?Ă˜Ăž ÞÙ Ă•Ă˜Ă™ĂĄ ÒÙå ĂšĂ?ÙÚÖĂ?ËŞĂ? ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœĂ? ĂĄĂ?ĂœĂ? Ă?Ă‹ĂœĂ“Ă˜Ă‘ ĂĄĂ‹Ă? Ă—Ă?Ăž åÓÞÒ ĂŽĂ“Ă?Ă‹ĂšĂšĂœĂ™Ă Ă‹Ă– ĂŒĂŁ ĂĄĂ“Ă?Ă?Ăœ ×ÙÞÒĂ?ĂœĂ?Ë› Ă’Ă? Ă•Ă˜Ă‹Ă?Ă• åÓÞÒ ĂĄĂ’Ă“Ă?Ă’ ĂœĂ?Ë› Ă‹Ă?Ă•Ă?ĂŽ Ă?Ă‹Ă—Ă“Ă–ĂŁËœ Ă?ĂœĂ“Ă?Ă˜ĂŽĂ? Ă‹Ă˜ĂŽ Ă‹Ă?Ă›Ă&#x;Ă‹Ă“Ă˜ĂžĂ‹Ă˜Ă?Ă?Ă? ĂŽĂ“ĂœĂ?Ă?Ăž Ă›Ă&#x;Ă?Ă?ĂžĂ“Ă™Ă˜Ă? Ă–Ă“Ă•Ă? Ě‹ ĂĄĂ’Ă‹Ăž Ă?Ă–Ă‹Ă?Ă? ÞÒĂ?Ă“Ăœ ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœĂ? ĂĄĂ?ĂœĂ? Ă“Ă˜ Ă™Ăœ ĂĄĂ’Ă‹Ăž ÚÙĂ?Ă“ĂžĂ“Ă™Ă˜ ÞÒĂ?ĂŁ Ă?Ă‹Ă—Ă? Ă“Ă˜ ÞÒĂ?Ă“Ăœ Ă?âË×Ă? ĂĄĂ‹Ă? Ă?Ă’Ă™Ă?Ă•Ă“Ă˜Ă‘ ÞÙ Ă›Ă&#x;Ă“Ă?ĂžĂ?Ăœ Ă—Ă&#x;Ă—Ă?Ë› ĂœĂ?Ë› Ă?Ă™Ă&#x;Ă˜ĂŽ Ă’Ă?Ăœ ĂĄĂ‹ĂŁ Ă“Ă˜ĂžĂ™ Ă—Ă‹Ă˜ĂŁ åÙ×Ă?Ă˜ËŞĂ? Ă’Ă?Ă‹ĂœĂžĂ? åÓÞÒ Ă’Ă?Ăœ Ă–Ă‹ĂœĂ‘Ă? Ă?ÒÙå Ă™Ă? Ă?Ă™Ă˜Ă?Ă?ĂœĂ˜Ë› Ă’Ă? ĂŽĂ“Ă?ÚÖËãĂ?ĂŽ Ă‹ Ă•Ă?Ă?Ă˜Ă˜Ă?Ă?Ă? ÞÙ Ă’Ă?Ă–Ăš Ă‹Ă˜ĂŽ ĂŒĂ? ÞÒĂ?ĂœĂ? Ă?Ă™Ăœ ÙÞÒĂ?ĂœĂ? ÞÒËÞ Ă?Ă&#x;Ă?Ă?Ă?Ă?ĂŽĂ?ĂŽ Ă“Ă˜ Ă“Ă˜Ă“ĂžĂ“Ă‹Ă–Ă–ĂŁ ĂŽĂ?Ă?Ă?Ă“Ă Ă“Ă˜Ă‘ Ă‹ ÖÙÞ Ă™Ă? ĂšĂ?ÙÚÖĂ?Ë› Ă’Ă? ĂĄĂ‹Ă? Ă‹Ă–Ă?Ă™ Ă‹ ĂœĂ“Ă?Ă’ Ă–Ă‹ĂŽĂŁ åÓÞÒ Ă‹ ĂŽĂ‹Ă¤Ă¤Ă–Ă“Ă˜Ă‘ ĂŽĂœĂ?Ă?Ă?Ě‹Ă?Ă?Ă˜Ă?Ă?Ë› Ă’Ă?ĂœĂ?Ă?Ă™ĂœĂ? Ă“Ă˜ Ă‹ Ă?Ă™Ă?Ă“Ă?Þã Ă–Ă“Ă•Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ëœ ĂĄĂ’Ă?ĂœĂ? Ă?×ÚÒËĂ?Ă“Ă? ĂĄĂ‹Ă? ÚÖËĂ?Ă?ĂŽ Ă™Ă˜ Ă—Ă‹ĂžĂ?ĂœĂ“Ă‹Ă– ĂžĂ’Ă“Ă˜Ă‘Ă?Ëœ Ă‹ ÖÙÞ Ă™Ă? åÙ×Ă?Ă˜ Ă?Ă?Ă–Ăž Ă?×ÙÞÒĂ?ĂœĂ?ĂŽ ĂŒĂŁ ÞÒĂ? ÚÙåĂ?Ăœ Ă‹Ă˜ĂŽ Ă?ÒÙå Ă™Ă? ĂĄĂ?ËÖÞÒ Ă?Ă’Ă? Ă?âĂ&#x;ĂŽĂ?ĂŽ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă’Ă?Ăœ Ă‘ĂœĂ™Ă™Ă—Ă“Ă˜Ă‘Ë› Ă’Ă? ĂœĂ?Ë› ËŞĂ? Ă™Ă? Ă™Ă&#x;Ăœ ÞÓ×Ă? ĂŽĂ™ Ă’Ă‹Ă Ă? Ă‹ ÖÙÞ Ă™Ă? Ă–Ă?Ă?Ă?Ă™Ă˜Ă? ÞÙ Ă–Ă?Ă‹ĂœĂ˜ Ă?ĂœĂ™Ă— ÞÒĂ? Ă?Ă?Ă?Ă˜Ă‹ĂœĂ“Ă™ ĂŽĂ?Ă?Ă?ĂœĂ“ĂŒĂ?ĂŽ Ă‹ĂŒĂ™Ă Ă?Ë› Ă’Ă? ĂšĂ‹Ă“Ă˜ Ă™Ă? Ă“Ăž Ă?Ă™Ăœ Ă‹ĂœĂ™Ă–Ă“Ă˜Ă? Ă“Ă? ÞÒËÞ Ă?Ă’Ă? Ă˜Ă™ĂĄ Ă’Ă‹Ă? Ă˜Ă™ Ă™ĂšĂšĂ™ĂœĂžĂ&#x;Ă˜Ă“ĂžĂŁ Ă™Ă? ĂžĂ‹Ă•Ă“Ă˜Ă‘ Ă&#x;Ăš ÞÒĂ? Ă“Ă?Ă?Ă&#x;Ă?Ă? åÓÞÒ Ă’Ă?Ăœ Ă—Ă&#x;Ă—Ë› Ă‹ĂŽĂ–ĂŁËœ Ă?Ă’Ă?ËŞĂ? Ă‘Ă™Ă“Ă˜Ă‘ ÞÙ Ă’Ă‹Ă Ă? ÞÙ Ă–Ă“Ă Ă? ÞÒĂ? ĂœĂ?Ă?Ăž Ă™Ă? Ă’Ă?Ăœ Ă–Ă“Ă?Ă? åÓÞÒ Ă‹ ĂŒĂ‹ĂŽ ĂœĂ?ĂšĂ&#x;ĂžĂ‹ĂžĂ“Ă™Ă˜ ÞÒËÞ Ă’Ă‹Ă? ĂŒĂ?Ă?Ă˜ Ă?Ă‹Ă?Ăž Ă™Ă˜ Ă’Ă?Ăœ ĂŒĂŁ Ă’Ă?Ăœ Ă™ĂĄĂ˜ ×ÙÞÒĂ?ĂœË› Ă’ĂŁ ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŁĂ™Ă&#x; ÞËÕĂ? ĂŁĂ™Ă&#x;Ăœ Ă?Ă’Ă“Ă–ĂŽËŞĂ? Ă?Ă’Ă™ĂœĂžĚ‹Ă?Ă™Ă—Ă“Ă˜Ă‘Ă? Ă‹Ă˜ĂŽ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă™Ă&#x;ĂžĂ?Ă“ĂŽĂ? ĂŁĂ™Ă&#x;Ăœ ÒÙ×Ă?ËŁ Ă’Ă‹Ăž ĂšĂœĂ?Ă”Ă&#x;ĂŽĂ“Ă?Ă?Ă? Ă‹ĂœĂ? ĂŁĂ™Ă&#x; Ă“Ă˜Ă‹ĂŽĂ Ă?ĂœĂžĂ?Ă˜ĂžĂ–ĂŁ Ă?ĂžĂ‹Ă—ĂšĂ“Ă˜Ă‘ Ă™Ă˜ ĂŁĂ™Ă&#x;Ăœ ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœËŁ Ă’Ă? ĂĄĂ™ĂœĂ–ĂŽ ĂĄĂ“Ă–Ă– Ă‹Ă?Ă?Ă™ĂœĂŽ ĂŁĂ™Ă&#x;Ăœ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ÞÒĂ? ĂœĂ?Ă?ĂšĂ?Ă?Ăž ĂŁĂ™Ă&#x;ËŞĂ Ă? Ă“Ă—ĂšĂœĂ“Ă˜ĂžĂ?ĂŽ Ă™Ă˜ ÞÒĂ?Ă—Ëœ Ă?Ù×Ă?ÞÓ×Ă?Ă? Ă?Ă™Ăœ ÞÒĂ? ĂœĂ?Ă?Ăž Ă™Ă? ÞÒĂ?Ă“Ăœ Ă–Ă“Ă Ă?Ă?Ë›

Ă˜ Ă—ĂŁ Ă?Ă&#x;ĂœĂœĂ?Ă˜Ăž Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă?ËŞ ʨĂ?Ă–ĂŽ Ă™Ă? ĂšĂœĂ‹Ă?ÞÓĂ?Ă?Ëœ ĂĄĂ? Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ă˜ ĂžĂœĂ‹Ă“Ă˜Ă?ĂŽ ÞÙ Ă?Ă?Ă? ĂŽĂ“ĘŠĂ?Ă&#x;Ă–Ăž Ă?Ă™Ă?Ă“Ă‹Ă–Ă–ĂŁ Ă&#x;Ă˜Ă‹Ă?Ă?Ă?ĂšĂžĂ‹ĂŒĂ–Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă‹Ă? Ă˜Ă™Ăž Ă˜Ă?ÑËÞÓà Ă?Ă? ĂŒĂ&#x;Ăž ÚÙĂ?ÓÞÓà Ă?Ă?Ë› ËŠ Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ?ËŞ Ă‹ĂœĂ? ÞÒĂ?ĂœĂ?Ă?Ă™ĂœĂ? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? ÞÒËÞ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă? ĂŁĂ™Ă&#x; ÞÙ ĂœĂ?Ă‹Ă?Ăž åÓÞÒ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘Ă“Ă?Ă? ÞÒËÞ ĂŒĂœĂ“Ă˜Ă‘ Ă‹Ă˜ Ă?Ă˜ĂŽ ÞÙ ÞÒĂ?Ă— Ă™Ăœ Ă—Ă‹Ă˜Ă‹Ă‘Ă? ÞÒĂ?Ă“Ăœ Ă™Ă?Ă?Ă&#x;ĂœĂœĂ?Ă˜Ă?Ă?Ă?Ë› Ă‹Ă˜Ă‹Ă‘Ă“Ă˜Ă‘ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ă–ĂŁ ĂĄĂ‹ĂœĂœĂ‹Ă˜ĂžĂ? Ă‹Ă˜ ËʾÓÞĂ&#x;ĂŽĂ? ÞÒËÞ ĂœĂ?Ă›Ă&#x;Ă“ĂœĂ?Ă? ÞÒËÞ ĂŁĂ™Ă&#x; Ă?Ă?Ă? ÞÒĂ?Ă— Ă‹Ă? Ă‹ ĂšĂ?ĂœĂ?Ă™Ă˜ËŞĂ? Ă?Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă? Ă‹ Ă˜Ă?Ă?ĂŽ Ă™Ăœ Ă˜Ă?Ă?ĂŽĂ? ÞÒĂ?ĂŁ ĂĄĂ‹Ă˜Ăž Ă‹ĂŽĂŽĂœĂ?Ă?Ă?Ă?ĂŽË› Ăž Ă“Ă? ĂĄĂœĂ™Ă˜Ă‘ ÞÙ Ă‹Ă?Ă?Ă&#x;Ă—Ă? ÞÒËÞ Ă?Ă Ă?ĂœĂŁ ĂžĂœĂ™Ă&#x;ĂŒĂ–Ă?Ă?Ù×Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ Ă“Ă? Ă•Ă˜Ă™ĂĄĂ“Ă˜Ă‘Ă–ĂŁ Ă?Ă™Ă˜ĂžĂœĂ“Ă Ă?ĂŽ Ă™Ăœ Ă?Ă™Ă˜Ă?Ă?Ă“Ă™Ă&#x;Ă?Ă–ĂŁ ĂŽĂœĂ“Ă Ă?Ă˜Ë› Ă™Ăœ Ă?Ù×Ă? ĂšĂ?ÙÚÖĂ?Ëœ ÓÞ˪Ă? Ă‹ Ă˜Ă?Ă?ĂŽ Ă?Ă™Ăœ Ă‹ĘľĂ?Ă˜ĂžĂ“Ă™Ă˜ ÞÒËÞ Ă?Ă?ĂžĂ? ÞÒĂ?Ă— Ùʼ˛ Ăž Ă—Ă“Ă‘Ă’Ăž Ă˜Ă™Ăž Ă—Ă‹ĘľĂ?Ăœ Ă“Ă? ÞÒĂ? Ă‹ĘľĂ?Ă˜ĂžĂ“Ă™Ă˜ ÞÒĂ?ĂŁ ÞÒĂ?Ă˜ Ă‘Ă?Ăž Ă“Ă? ÚÙĂ?ÓÞÓà Ă? Ă™Ăœ Ă˜Ă?ÑËÞÓà Ă? Ă‹Ă? Ă–Ă™Ă˜Ă‘ Ă‹Ă? ÞÒĂ?ĂŁ Ă‹ĂœĂ? ĂŒĂ?Ă“Ă˜Ă‘ Ă–Ă“Ă?ĂžĂ?Ă˜Ă?ĂŽ ÞÙ˛ Ă˜ĂŽĂ?Ă?ĂŽ ÞÒĂ? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă—Ă‹ĂŁ Ă˜Ă™Ăž ĂŒĂ? Ă‹Ă‘Ă‘ĂœĂ?Ă?Ă?Ă“Ă Ă? ĂŒĂ&#x;Ăž Ă?Ă&#x;Ă˜Ă?ĂžĂ“Ă™Ă˜ ÞÙ ĂŽĂ?Ă—Ă‹Ă˜ĂŽ Ă‹ĘľĂ?Ă˜ĂžĂ“Ă™Ă˜Ë› Ăž Ă“Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ Ă˜Ă™ĂžĂ? Ă’Ă?ĂœĂ? ÞÒËÞ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ Ă“Ă˜ ÞÒÓĂ? Ă?Ă‹ĂžĂ?Ă‘Ă™ĂœĂŁ Ă“Ă? Ă˜Ă™Ăž ÞÙ Ă‘Ă‹Ă“Ă˜ ĂœĂ?Ă Ă?Ă˜Ă‘Ă?Ëœ ĂŒĂ&#x;Ăž Ă—Ă™ĂœĂ? ÞÙ ĂœĂ?Ă–Ă?Ă‹Ă?Ă? Ă‹Ă˜Ă‘Ă?Ăœ Ă™Ăœ Ă?ĂœĂ&#x;Ă?ĂžĂœĂ‹ĂžĂ“Ă™Ă˜Ë›

Ě‹ Omoru writes from the UK

35

T H I S D AY Ëž Ëœ ÍŻÍąËœ Í°ÍŽÍŻÍľ

Provost Flays Exclusion of Agric Colleges from TETFund Beneficiaries James Sowole in Akure The Provost of the Federal College of Agriculture, Akure, Ondo State, Dr. Samson Odedina, has expressed concern that the non-inclusion of the college as part of beneficiaries of the Tertiary Education Trust Fund (TETFund) has been having negative impact on the activities of the college particularly efforts to engage the youths through

agriculture. Odedina, who said this at the diamond jubilee lecture of the institution, stressed the need to amend the act of parliament that established TETFund so as to accommodate colleges of agriculture in Nigeria. According to him, the college has trained over 2,000 unemployed graduates in vocational programmes and

many infrastructural projects have been executed on campus, but the college would have done more if it had been part of TETFund’s beneficiaries. “It is sad excluding all colleges of agriculture offering national diploma and higher national diploma like the polytechnic from the TETFund by act of parliament. “It takes time to amend parliamentary acts, but in the

interest of agriculture and youth embracing it, there is need for deliberate funding of all federal colleges of agriculture in Nigeria since TETFund has kicked them out.� Odedina stated that in spite of the development, the institution has trained many youths who have been creating jobs by innovative ideas from the college’s value chain project concepts.

In his remarks, the Minister for Agriculture and Rural Development, Chief Audu Ogbe said the ministry would do its best to ensure that colleges of agriculture are included among TETFund beneficiaries. Represented by the Southwest Regional Director of the ministry, Mr. Joseph Adeniyi, the minister, who commended the provost for various achievements on the campus, noted that

the college, among other colleges were removed from TETFund by previous administrations, maintaining that the institutions would be returned. “We shall continue to work with legislators and other stakeholders in returning all federal colleges of agriculture to TETFund funding, from which they were removed some years back before the commencement of this administration.�

Foundation Sensitizes Students on Hygiene The Daniel Ogechi Akujobi Memorial (DOAM) Foundation recently held a healthy living programme for pupils and teachers of Ideal Primary School and New Town Primary School, Festac Town, Lagos as part of efforts aimed at improving the health of Nigerian students. The Programme Officer (Health), Mrs. Sarah Numa said the event was organised in view of the just concluded world hand-washing day. “The objective of the programme was to give access to appropriate hand washing materials and hygiene education to supplement residual knowledge and ultimately reduce absenteeism from school due to preventable illnesses.� She added that behavioural change towards better hygiene practices is a gradual process that involves working closely with the communities and designing appropriate com-

munication tools and finally encouraging practical steps towards positive practices. The programme, which started with a short lecture on the dangers of poor hygiene practices by a medical doctor, featured a quiz competition between the two schools and prizes were presented to the winners, while the pupils participated in a hand washing demonstration to ensure that everyone had a first-hand experience of the proper way to protect themselves and others around them. The foundation also provided communal hygiene Anambra State Governor, Chief Willie Obiano (third left); the Vice-Chancellor, Chukwuemeka Odumegwu Ojukwu University (COOU), Prof Fidelis kit for the two participating Okafor (fourth left); the Catholic Bishop of Awka Diocese, Most Rev. Paulinus Ezeokafor and others at the investiture of The Papal Knight on schools and personal hygiene Okafor in Awka‌ recently kit for each pupil to further motivate them to be hygiene heroes. The excited pupils promised to take the task of being heroes seriously to enable them get their badges of honour in Segun Awofadeji in Bauchi “From records available to policies and programmes of In his remarks, the National subsequent programmes. President of ASUP, Usman us, 1.5 million persons apply polytechnic education, saying Stakeholders in the polytechnic Yusuf Dutse alleged that to universities, while less than that these issues need to be system across the country have polytechnic education in the 40,000 apply to the polytech- tackled to enable the nation lamented that the neglect of country has become endangered nics. Several efforts for the total benefit from the huge potential polytechnic education by owing to persistent neglect, removal of the dichotomy are of polytechnic education the federal government had underfunding, unfavourable/ still being sabotaged by some for the provision of skilled manpower for sustained undermined the growth of conflicting policies, obsolete government interest.â€? The ASUP president stated economic development. technology in the country and instruments of operation, He highlighted some of succour to the less privileged in also caused mass exit from the decay of infrastructure and that the union embarked on the recent strike due to the failure of the achievements recorded Nigeria and Ghana. Her major system, of experienced and poor condition of service. goal was to give them a chance well-trained intellectuals in “As major stakeholders in government at various levels to in his eight year tenure in to survive and grow to become areas of dire need, as well as the sector, we cannot ignore give the desired attention to the the polytechnic, which will their best in life. She spent most low enrolment of students into the fact that the problems plight of polytechnic education expire at the end of December, part of her time in the rural polytechnics of polytechnic education in in Nigeria, pointing out that 2017 to include recruitment communities interacting with National, state leaders of Nigeria are becoming increas- the government should match of 240 academic staff of rural dwellers.â€? the Academic Staff Union of ingly worrisome. Our sector words with action and sincer- various ranks, approval of Afolabi said the goal of the Polytechnics (ASUP) and rectors is discriminated against and ity in order to ensure lasting study fellowship in Nigeria school is to continue from where of various polytechnics in the our graduates are ridiculed industrial peace in the sector. and international universities The Rector, Federal Poly- to 60 for men for PhD, 125 Kunbi stopped. “KIA Lakeside country made this known dur- at points of employment not Academy is designed to give ing the 14th National Delegates because they lack the capacity, technic Bauchi, Dr. Shuaibu for masters degrees and 300 all Nigerians and every other Conference (NDC) of the union but because marginalisation is Musa, regretted that inadequate staff who attended national people the opportunity to access held at the Federal Polytechnic, enshrined in the policies and funding has crippled the and international conferences, broad and existing national among others. quality and affordable education. Bauchi. laws of the country. The school is not established for profit making. The goal is to offer world class education to all who are opportune to apply and gain admission here.â€? James Sowole in Akure “It is our belief as a unisession, while 2,026 graduated division; 239 got third class; He said the facilities in the versity that contributions to while six had pass degree.â€? for the 2015/2016 session. school can compare with the best A total of 50 students of the Apart from the conferment institutions and humanity “Of the 7,624 that earned anywhere in the world, while Adekunle Ajasin University, first degree in the 2014/2015 of the different categories of should be a yardstick for teachers and administrators are Akungba Akoko (AAUA), session, 29 graduated with first degrees on graduates, the giving awards and that when carefully selected and recruited Ondo State bagged first class class; 1,316 bagged second class grand finale of the convocation this is done transparently, it based on high standards and among the 9,649 students that upper division; 5,183 earned ceremony also witnessed the will spur the honourees and encouraged parents to seize graduated for the 2014/2015 second class lower division; inauguration of the university well-meaning individuals to the opportunity to access quality and 2015/2016 sessions. impact society better. 1,027 had third class; while 69 campus radio station. education for their children. “That “Chief Kesington Adebutu, a The radio station, Radio The feat of the 50 students got pass degree. “In the postis what Kunbi stands for.â€? was revealed during the graduate category, 16 bagged AAUA 90.3FM was commis- foremost entrepreneur who has In his remarks, the Executive seventh convocation ceremony Doctor of Philosophy (PhD); sioned by the visitor to the been of tremendous support to Secretary of the Federal Capital of the institution, which was 128 earned master’s degree; university, the Governor of the university, was conferred Development Authority (FCDA) the second under the admin- while 18 had Postgraduate Ondo State, Oluwarotimi with the Doctor of Business Umar Gambo Jibrin commended istration of Professor Igbekele Diploma in Education (PGDE). Akeredolu, SAN. Finance (Honoris Causa). Chief the Proprietress, Mrs. Titilayo Ajibefun as the Vice-Chancellor. Also, honorary awards were Julius Ajibulu, a friend of the “Of the 2,026 that graduated Adebiyi and her husband Prof. Ajibefun, who gave the in the 2015/2016 session, 21 conferred on three recipients university who has supported Dan Adebiyi for establishing what breakdown of the graduates made first class; 609 graduated for their contributions to the the institution immensely, will he described as a quality and for the two sessions, said a total in second class upper division; university and the course of be conferred with the Doctor impressive educational institution. of 7,624 were for the 2014/2015 1,151 bagged second class lower education in Nigeria. of Science (Honoris Causa).

Stakeholders: Neglect of Poly Education, Bane of Nigeria’s Technological Advancement

KIA Lakeside Academy Dedicated, Unveiled in Abuja The KIA Lakeside Academy, a crèche, nursery, primary and secondary school, Abuja, was recently dedicated to God and unveiled by the Primate, Church of Nigeria, Archbishop Nicholas Okoh, who prayed for God to use the school to raise God fearing children. Speaking at the occasion, the Chairman, Governing Council of the School, Prof. Oladapo Afolabi, said the school, which was established in 2008 in Jabi has grown from seven pupils at inception to 200 students now. He said the school was established in memory of late Kunbi Irene Adebiyi (KIA), who lost her life in the unfortunate 2013 Dana air crash. “Kunbi was a prodigious child in whom the parents, friends, family members and well-wishers were well pleased. Kunbi was someone who cared for others, especially the less privileged. She bagged BSc in Economics and obtained a Master’s degree in Development Economics. She also had a Postgraduate Diploma in Development Studies from the Harvard University.â€? “In pursuit of her love to care for others, she established, quite early in life, a non-governmental organisation through which she sponsored and provided

50 Ondo Varsity Graduands Bag First Class

T H I S D AY ˾ WEDNESDAY, DECEMBER 13, 2017

36

CITYSTRINGS

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

Servant Leader, Mrs. Folorunso Alakija...winning souls for Christ

The Billionaire With Eyes Lifted Towards Heaven Folorunso Alakija might be one of the richest women on earth, but she is also on a campaign to preach a 2,000-year-old gospel, writes Solomon Elusoji Last October, the Rose of Sharon Glorious Ministry International (RoSGMI) held its first ever national crusade at the National Stadium, Surulere, Lagos. The three day Christian crusade featured praise, prayers, healing and miracle sessions and the organisers said it was a “tremendous success and without a shadow of doubt had God’s presence.” In a statement sent to THISDAY, RoSGMI also noted that “just like the theme of the crusade ‘Victory Unlimited’, many people seeking God’s intervention in areas of their lives received their miracles and experienced the demonstration of God’s power.” RoSGMI is Mrs. Folorunso Alakija’s vision. It started as a small fellowship in 2004. Originally an offshoot of the Cathedral Church of Christ, Marina, Lagos, the fellowship held its first services inside Alakija’s home. Now, it has grown into an interdenominational ministry. During the three day crusade, Alakija, who according to Forbes is worth well over a billion dollars, shed some light on why she decided to start a Christian ministry by narrating a dream she had some years back.

In the dream, she saw herself in an old-fashioned lift, which had collapsible gates. Then she noticed that there was someone standing beside her within the lift. It was a man that she could not recognise facially and she tried not to look. As the lift descended, from one floor to another, she noticed that each floor had different kinds of people, people with different kind of difficulties. During the descent, the man with her also started to explain the situation of the people they saw on

We are grateful to God for multitudes that were blessed and for those who gave their lives to Jesus Christ as this was one of our many expectations for the national crusade

each floor. She observed that the people on the lower floors, especially the ground floor, were in the worst conditions. By the time they got to the ground floor, she noticed that those who were there had no clothes on; in fact, they had no flesh, just bare bones. Suddenly, the nearest skeleton stretched out its arm and looked their way, as if to say ‘help me.’ “One could tell that, once, this must have been a human being,” Alakija said. “I will never forget it; it has left an indelible mark in my heart.” Then her companion seemed to be saying ‘over to you’ and suddenly, he disappeared. She spoke to a Pastor about her dream and he said to her that the person that was standing beside her was Jesus, and that what he was showing her was her calling. She had another dream where she found herself on a green field with lush, beautiful, soft green grass, but there were lumps all over and suddenly she noticed that the lumps started to rise, slowly, like a beating heart. In 2011, she went to Jerusalem and the Lord ministered to her to start a monthly prayer

retreat as an extra service to that which she had already started, which was a weekly service at RoSGMI. The ministry has since grown from a group of five people that started in Alakija’s home to a regular membership of a minimum number of 350 people; the monthly prayer retreat is attended by at least 480 people. “The spirit of the lord is upon me,” she said, alluding to the Bible’s Isaiah 61. “I am here to preach good tidings, to heal broken hearts, to proclaim liberty to the captives, and to deliver those who are bound.” For the crusade, free transportation was provided through all major routes like Ikorodu, Obalende, Iyana-Ipaja, Sango, Ikotun, Ajah, Festac, Ajegunle, Satellite Town and Ikotun among others, bringing people to and from the venue. Speakers at the crusade were renowned Christian ministers like Pastor J.T. Kalejaiye, Special Assistant on Evangelism to the General Overseer, Redeemed Christian Church of God; Apostle Charles Ndifon, General Overseer of Christ Love Ministries International, Providence, Rhode Island, USA; and Alakija

T H I S D AY ˾ WEDNESDAY, DECEMBER 13,

37

CITYSTRINGS

L-R: Pastor J. T. Kalejaiye, Special Assistant to the General Overseer on Evangelism, Redeemed Christian Church of God; Mrs. Folorunso Alakija, Servant Leader, Rose of Sharon Glorious Ministries International; Apostle Charles Ndifon, General Overseer of Christ Love Ministries International, Providence, Rhode Island, USA, and Prophetess Francine Abigael, at the crusade held at National Stadium, Lagos…recently

A cross section of worshippers at the crusade

herself. Gospel artistes who ministered in music were Efe Nathan, Buchi, Pastor Wale Adenuga and the Rose of Sharon Glorious Ministry Choir. Despite the rainfall on the third day, the attendance surpassed the first and second days, peaking at about 1,500 persons. “We are grateful to God for multitudes that were blessed and for those who gave their lives to Jesus Christ as this was one of our many expectations for the national crusade,” a statement from RoSGMI said. “A deaf and mute little girl that was brought to the crusade grounds by her father received her healing instantly during the prayer session. Among the many miracles Jesus did at the national crusade was the salvation of souls in interesting ways. “Another young teenager who had been deaf from birth was touched by the power of God and her ears were opened immediately after the prayers. “Like the woman in the bible who was diagnosed with the issue of blood, so was a woman who had been bleeding for the last three years. At the crusade grounds, she opened her heart, prayed, hands were laid on her and the bleeding stopped instantly. “It was such an awesome experience and more than words could say, to see God move in such powerful ways and grant people Victory Unlimited.”

Wife of former governor of Lagos State, Mrs. Abimbola Fashola (2nd right) and others at the crusade

Worshippers at the crusade

T H I S D AY Ëž , DECEMBER 13, 2017

38

BUSINESS/MONEYGUIDE

IMF Harps on Economic Diversification for Nigeria, Others Obinna Chima The Managing Director of the International Monetary Fund (IMF), Christine Lagarde yesterday stressed the need for Nigeria and other African countries to ensure that they diversify their economies in other to be able to withstand shocks. Lagarde stated this in a paper titled: “Harnessing the Power of Economic Diversification,� she presented in Cotonou. She said promoting economic diversificationwas akin to weaving a beautiful traditional fabricas well as weaving an economic fabric that is more complex, more resilient, and more beneficial to all families and communities. She noted that by improving policies and strengthening institutions, governments in subSaharan Africa have contributed to fundamental progress over the past generation. “Many countries have enjoyed much longer periods

of uninterrupted growth, rather than episodes of boom and bust. And millions of people now enjoy longer, healthier, and more prosperous lives. “Over the past 25 years, life expectancy in the region has increased by a fifth; infant and maternal mortality rates have halved; and primary school enrolment is up to 80 percent. At the same time, several countries are struggling to lift living standards. This year, 12 of 45 countries in sub Saharan Africa—home to about 400 million people—are expected to see negative per capita income growth. So there is work to do—especially when it comes to demographics. “We are at the beginning of a major transition—one that is driven by young and growing populations. By 2030, half of the annual increase in the global working age population is expected to come from subSaharan Africa,� she added. Lagarde noted that diversifica-

tion should alsobe driven by openness and trade integration, as well as foreign direct investment—which helps transfer technology, promotes skills development, and fosters competition. Moreover, diversification is supported by lower income inequality and higher gender equality, she added. The IMF boss pointed out that Africa remainsthe largest recipient of the Fund’s capacity development efforts. “By strengthening revenue collection, countries can support investments in infrastructure, education and training, and even research and development. The goal is to help create a virtuous circle of diversification, stronger economic activity, and more revenue. “These experiences show that there is no typical diversification pattern, and successful efforts will reflect countless individual decisions by people and businesses,� she said.

Broad street

MARKET INDICATORS

CBN Injects $210m into Forex Market The interbank window of the foreign exchange market received another boost of $210,000,000.00 from the Central Bank of Nigeria (CBN). According to figures obtained from the Bank, Tuesday’s interventions were for the wholesale, small and medium scale enterprises (SMEs) and invisibles segments of the market.

The acting Director, Corporate Communications at the CBN, Mr. Isaac Okorafor disclosed that the Bank offered the sum of $100million to the wholesale segment, while the SMEs and invisibles segments each received the sum of $55 million. He reiterated that the releases were meant to boost liquidity, trade and ease of remittances

for legitimate personal commitments. In spite of the stable rate of N360/$1 and the expected inflow from various sources such as the Eurobond and remittances from the Diaspora, Okorafor said the Bank would continue to intervene in the inter-bank forex market to guarantee liquidity.

Fidelity Bank Gives Out N19m in Promo Nume Ekeghe Fidelity Bank Plc has rewarded more of itscustomers with cash and gifts items in the second monthly draw of ‘Get Alert in Millions Promo’ reloaded. The draw which held in Lagos yesterday, was witnessed by representatives from the NigerianLottery Commission, the Lagos Lottery Board and the Consumer Protection Council, to ensure its transparency and accountability. In the promo, the bank gave out a total of N19 million and various consolation prizes to customers. A breakdown of the cash prize reward showedthat N13 million was given out in the second monthly draw, while N6 million was given out in the star/bi-monthly draw. In all, winners emerged from six geo-political zones including

nine customers, who smiled home with N1 million each, two customers won N2 million each while two customers from Lagos and North went home with N3 million each. Speaking at the event, the Executive Director, Shared Services, Mrs. Chijioke Ugochukwu, said that the draw presented the largest amount the bank would give out in the promo reloaded this yuletide season. She said at the end of the day, the bank would have given out N34 million in cash and 33 consolation prizes. “This is just the beginning. We still have N76 million and there is a final grand prize of N10 million,� she said. Also commenting, the Admiralty branch leader Mrs. Augustina Akabogu, said the promo was one of the ways the bank encourages money to flow into the banking sector as

the people bring their money into the bank. “We love our customers. There is no institution that will strive without a customer base. The third reason why we are doing this draw is for empowerment. The draw enables our customer meet their financial needs and become better business owners�, Akabogu said. The Bi-monthly winners of N3 million were Mr. Abdullateef Olarewaju Gaffar and Mr. Osondu Udechukwu. While the N2 million cash winners were Mr. John Prince Sabenya Celestine, Samuel Oruchalu. Furthermore, the N1 million winners were Emmanuel Ehizibue, Anaelechi Chris Oziogu, Maui USO, Olof Bunkunmi Ayo, Ethel Ikechi Duru, Nwosu Uchenna, Egene Ejiofor and Chizoba Nwaoba. Other prizes given were TV sets, generators and refrigerators.

Access Bank Rewards More Customers About 137 customers of Access Bank yesterday won several prizes in the end of the year‘Family Fortune Mega’ promo by the bank in the draws held at the bank’s corporate headquarters in Lagos. These included 12 prizes ranging from a four bedroom terrace house in Lekki, a 2017 KIA Cerato car, two 15 KVA soundproof generators, three all-expense paid trip to Dubai by a family of four and five scholarships worth one million naira each for any member of the family. Others were 20 shopping spree worth N25,000, 50 DSTV

decoders with one month subscription and 50 GOTV decoders with one month subscription each. Celestine Ikwuka Obinabor, who resides at theOka Afa area of Ejigbo, Lagos won the four bedroom terrace house in Lekki, while Ayoola Olayiwola Noah, resident of Jos, Plateau State won the KIA Cerato car. The event was observed by officials of National Lottery Regulatory Commission, Ernst& Young, Lagos Lottery Board and the Consumer Protection Council. A total of N150,000 for seven days was the least cumulative

amount a family must retain to qualify for the weekly selections. For the monthly and mega selection, a total of N300,000 cumulatively for 30 and 90 days respectively is required to automatically qualify. Speaking at the event, Executive Director, Business Banking of the bank, Titi Osuntokun,said the mega draw was the “first time in the country where people will win a house, car, 15 KVA soundproof generators two all-expense paid trip Dubai for three families, full scholarships worth one million for five, 125 consolation prizes in one sweep.�

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‹

MANAGED FUNDS Month

AUGUST 2017

Inter-Bank Call Rate

22.63

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.35

Savings Deposit Rate

4.08

1 Month Deposit Rate

8.86

3 Months Deposit Rate

10.14

6 Months Deposit Rate

11.51

12 Months Deposit Rate

11.40

Prime Lending rate

17.69

Maximum Lending Rate

31.20 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT, MON, DEC 11 2017 The price of OPEC basket of fourteen crudes stood at $61.94 a barrel on Monday, compared with $61.03 the previous Friday, 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

T H I S D AY ˾ , DECEMBER 13, 2017

39

MARKET NEWS

Investors Stake N27bn on Equities as Dangote Cement Lifts Market Goddy Egene and Nosa Alekhuogie

Nigerian Breweries, GTBank, Dangote Cement, FBN Holdings Plc and Nestle Nigeria was mainly responsible for the gain recorded in the index. However, Union Bank of Nigeria Plc led the 21 price gainers with 10 per cent, trailed by Diamond Bank Plc with 7.1 per cent. Berger Paints Nigeria Plc chalked up 4.9 per cent, just as Caverton and NASCON Allied Industries Plc garnered

of the transaction value as it recorded N25 billion invested in 95.478 million shares. In all, the market rebounded rising by a marginal 0.03 per cent after declining the first trading day on profit taking. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) closed higher at 38,924.63, while market capitalisation ended at N13.56 trillion. The appreciation recorded in the share prices of

High trading in the shares of Dangote Cement Plc yesterday lifted the overall value of transactions at the equities market by 445.4 per cent to N26.809 billion invested in 462.670 million shares, from N4.915 billion staked on 350.595 million shares the previous day. Dangote Cement accounted for 86 per cent

4.5 per cent and 4.0 per cent in that order. Unlike the previous day when Nigerian Breweries Plc fell despite the news of appointment of a new group managing director/ceo, the stock appreciated yesterday to close higher at N143.32. The brewing giant has appointed Mr. Jordi Borrut Bel. as the new MD/CEO effective on January 22, 2018. He will succeed Mr. Johan Doyer, who

closed in the red. The NSE Oil & Gas Index was the biggest loser shedding 0.4 per cent due to losses in Double One (-3.7 per cent). Following closely were the NSE Industrial Goods Index and NSE Insurance Index which fell 0.3 per cent apiece against the backdrop of price depreciations in Lafarge Africa (-0.9 per cent) and AXA Mansard (-0.5 per cent) respectively.

has served as MD/CEO on an interim basis since June 16, 2017. Conversely, FCMB Group Plc led the 23 price losers, shedding 4.69 per cent. Fidelity Bank Plc and NAHCO trailed with 4.64 per cent apiece, while Linkage Assurance Plc and Sterling Bank Plc fell 4.62 per cent and 4.5 per cent respectively. Meanwhile, performance across sectors was largely bearish as four of five indices

PRICES FOR SECURITIES TRADED AS OF

A S AT 3 0 / 1 0 / 2 0 1 7

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N

BANKING

1 BANKING

ZENITH INTERNATIONAL BANK PLC

S/N

OTHER FINANCIAL INSTITUTIONS

2 FBN HOLDINGS PLC OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N

BUILDING MATERIALS

3 DANGOTE CEMENT PLC BUILDING MATERIALS INDUSTRIAL GOODS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 4 5 6 CROP PRODUCTION S/N 7 FISHING/HUNTING/TRAPPING S/N 8 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 9 10 11 12 13 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/ REAL ESTATE S/N 14 BUILDING CONSTRUCTION S/N 15 16 INFRASTRUCTURE/HEAVY CONSTRUCTION

CROP PRODUCTION FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC

FISHING/HUNTING/TRAPPING ELLAH LAKES PLC.

LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

DIVERSIFIED INDUSTRIES A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC.

BUILDING CONSTRUCTION ARBICO PLC.

17

UACN PROPERTY DEVELOPMENT CO. LIMITED

18 19 20 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/ REAL ESTATE CONSUMER GOODS S/N 21 AUTOMOBILES/ AUTO PARTS S/N 22 23 24 25 26 BEVERAGES-BREWERS/DISTILLERS S/N

MARKET CAP(Nm) 3,919,316.70

TRADES

VOLUME

S/N

FOOD PRODUCTS

25.00 1.83

743 743

90,289,874 90,289,874

28 29 30 31 32 33 34 35 FOOD PRODUCTS

DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC N NIG. FLOUR MILLS PLC. NASCON ALLIED INDUSTRIES PLC UNION DICON SALT PLC.

S/N

FOOD PRODUCTS--DIVERSIFIED

PRICE

%CHANGE

6.95 0.72

PRICE %CHANGE 230.00 0.01

TRADES 372

VOLUME 18,399,501

372

18,399,501

1,115

108,689,375

TRADES

VOLUME

22

197,826

22

197,826

22

197,826

1,137

108,887,201

REAL ESTATE INVESTMENT TRUSTS (REITS) SKYE SHELTER FUND PLC UNION HOMES REAL ESTATE INVESTMENT TRUST (REIT) UPDC REAL ESTATE INVESTMENT TRUST

AUTOMOBILES/AUTO PARTS DN TYRE & RUBBER PLC

BEVERAGES--BREWERS/DISTILLERS CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC.

BEVERAGES--NON-ALCOHOLIC

27 7-UP BOTTLING COMP. PLC. BEVERAGES--NONALCOHOLIC

36 37 FOOD PRODUCTS-DIVERSIFIED S/N 38 39 HOUSEHOLD DURABLES S/N

MARKET CAP(Nm) 1,100.00 64,865.88 66,000.00 MARKET CAP(Nm) 511.20 MARKET CAP(Nm) 2,610.00

MARKET CAP(Nm) 1,853.10 194.58 2,111.93

PRICE %CHANGE

TRADES

VOLUME

0.50 68.00 -0.29 66.00 -

3 26 16

3,200 164,218 90,397

45

257,815

TRADES

VOLUME

PRICE

%CHANGE

4.26 -

PRICE 0.87

PRICE

0

1.33

31,406.13

16.35

MARKET CAP(Nm) 711.32

4.79

MARKET CAP(Nm) 36,960.00 165.00

PRICE

165,900

44

11

165,900

56

423,715

TRADES

VOLUME 1,500 0 0

1.53

165

22,345,117

-

38

141,833

205

22,488,450 22,488,450

45 46 47 48 49 50 51 52 53 BANKING S/N 54

%CHANGE

TRADES

VOLUME

57

-

0

0

58

%CHANGE

28.00 6.60 -

0 TRADES

59 VOLUME

14 0

27,215 0

14

27,215

60 61 62 63 64

MARKET CAP(Nm) 2,000.00

TRADES

VOLUME

65 66 67 68 69 70 71

100.00 -

0

0

72

11,305.89

45.22 -

0

0

26,682.70

10.00 -

0

0

0

0

22

85,364

TRADES

VOLUME

1

2,000

1

2,000

TRADES

VOLUME

29 0 28 22 267

519,150 0 48,436 1,245,915 1,758,251

346

3,571,752

MARKET CAP(Nm) 6,911.73

MARKET CAP(Nm) 2,386.33 MARKET CAP(Nm) 16,050.47 242.22 221,228.66 177,691.81 1,030,783.12

MARKET CAP(Nm) 59,254.61

PRICE %CHANGE 2.66 -

PRICE %CHANGE

PRICE %CHANGE 0.50 -

PRICE %CHANGE 2.05 0.89 101.00 53.94 130.00

-4.65 4.13 -0.38

P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

VOLUME

11

55 56 PRICE

PERSONAL/HOUSEHOLD PRODUCTS

ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. JAIZ BANK PLC SKYE BANK PLC STERLING BANK PLC. UNION BANK NIG.PLC. UNITED BANK FOR AFRICA PLC UNITY BANK PLC WEMA BANK PLC.

TRADES

0 0

NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC.

42 43

3.57

2

HOUSEHOLD DURABLES

BANKING

%CHANGE

%CHANGE

40 41 PERSONAL/ HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

CADBURY NIGERIA PLC. NESTLE NIGERIA PLC.

S/N

0

0.70 0.50 3.25 -

54,061.83

0 0

0 INFRASTRUCTURE/HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC. ROADS NIG PLC.

REAL ESTATE DEVELOPMENT

S/N

MARKET CAP(Nm) 249,472.28

PRICE %CHANGE

205

S/N

REAL ESTATE DEVELOPMENT

MARKET CAP(Nm) 784,912.34

TRADES

VOLUME

8

58,149

8

58,149

PRICE %CHANGE

TRADES

VOLUME

92.50 2.78

13

339,032

13

339,032

73 74 75 76 77 78 79 INSURANCE CARRIERS, BROKERS AND SERVICES S/N 80 81 MICRO-FINANCE BANKS S/N 82 83 84 85 86 MORTGAGE CARRIERS, BROKERS AND SERVICES S/N

INSURANCE CARRIERS, BROKERS AND SERVICES AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC. AXAMANSARD INSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. GOLDLINK INSURANCE PLC GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC SOVEREIGN TRUST INSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. STANDARD TRUST ASSURANCE PLC UNIC DIVERSIFIED HOLDINGS PLC. UNITY KAPITAL ASSURANCE PLC UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC

MICRO-FINANCE BANKS FORTIS MICROFINANCE BANK PLC NPF MICROFINANCE BANK PLC MORTGAGE CARRIERS, BROKERS AND SERVICES ABBEY MORTGAGE BANK PLC ASO SAVINGS AND LOANS PLC INFINITY TRUST MORTGAGE BANK PLC RESORT SAVINGS & LOANS PLC UNION HOMES SAVINGS AND LOANS PLC.

OTHER FINANCIAL INSTITUTIONS

MARKET CAP(Nm) 46,200.00 189,600.00 84,238.01 15,860.40 1,861.25 1,028.21 41,861.13 3,676.41 MARKET CAP(Nm) 22,125.22 1,031,959.17 MARKET CAP(Nm) 1,766.22 2,814.40 MARKET CAP(Nm) 92,988.57 229,915.12

MARKET CAP(Nm) 289,279.72 27,329.26 302,767.60 47,228.92 1,236,109.53 17,383.91 6,940.15 28,790.42 105,002.00 336,864.30 5,844.67 19,287.23 MARKET CAP(Nm)

PRICE %CHANGE

TRADES

VOLUME

9.24 15.80 32.10 2.00 0.50 5.77 15.80 13.45

71 118 43 17 1 0 150 0 400

1,598,382 3,204,507 393,626 1,379,040 2,000 0 7,107,226 0 13,684,781

-0.65 2.46 1.90 -3.00 -0.57 -

PRICE %CHANGE 11.78 3.33 1,301.90 0.15

TRADES

VOLUME

35 59

500,933 115,833

94

616,766

PRICE %CHANGE

TRADES

VOLUME

23.23 2.70 -

0 20

0 37,164

20

37,164

PRICE %CHANGE

TRADES

VOLUME

23.42 -4.99 40.02 0.18

54 99

712,231 1,562,309

153

2,274,540

1,027

20,526,035

PRICE %CHANGE

TRADES

VOLUME

10.00 2.46 1.18 1.72

212 47

98,336,273 5,498,380

16.50 -

43

559,873

1.63 42.00 0.59 0.50 1.00 6.20 9.85 0.50 0.50

76 261 2 5 8 82 207 30 22 995

36,963,834 13,195,623 113,140 171,560 183,131 1,047,321 116,630,865 5,184,236 144,170 278,028,406

1.88 -0.14 3.51 0.16 1.03 -1.96 -

TRADES

VOLUME

10,292.50

PRICE %CHANGE 0.50 -

0

0

3,742.31 21,525.00

0.54 2.05 1.49

10 4

148,884 124,000

3,000.00

0.50 -

2

3,000

14,314.39

1.38 -

4

31,000

7,364.75

0.50 -

1

100

7,000.00 2,411.47 1,913.74 3,070.00

0.50 0.53 0.50 0.50

0 0 0 0

0 0 0 0

642.04 3,661.72 2,620.76 5,120.00 4,000.00 7,392.70 3,869.74 2,759.15

-

0.50 -

1

50

0.50 0.61 0.64 0.50 1.40 0.50 0.50

0 3 11 0 9 0 0

0 103,000 132,694 0 111,332 0 0

3.39 0.72 -

3,334.38

0.50 -

0

0

4,170.41 6,455.52 4,670.54 1,291.15 6,933.33 8,000.00 6,691.37

0.50 0.50 0.50 0.50 0.50 0.50 0.50

0 0 0 0 0 0 5

0 0 0 0 0 0 705,409

50

1,359,469

TRADES

VOLUME

0 5

0 123,000

5

123,000

MARKET CAP(Nm) 11,799.67 2,995.50 MARKET CAP(Nm) 5,460.00 7,370.87 6,005.46 5,664.87 2,949.22

MARKET CAP(Nm)

-3.85

PRICE %CHANGE 2.58 1.31 0.77

PRICE %CHANGE

TRADES

VOLUME

-

1 0 0 0

500 0 0 0

3.02 -

0

0

1

500

TRADES

VOLUME

1.30 0.50 1.44 0.50

PRICE %CHANGE

˾ WEDNESDAY, DECEMBER 13, 2017

40

Nigeria Daily Stock Market Report: Wednesday, December 13, 2017 dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ĞƉƌĞĐŝĂƚĞƐ ďLJ ϭďƉ

THISDAY AFRINVEST 40 INDEX

dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ĚĞƉƌĞĐŝĂƚĞĚ ϭďƉ LJĞƐƚĞƌĚĂLJ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϱϲϴ͘Ϭϭ ƉŽŝŶƚƐ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ŇĂƫƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ĐĂŶ ďĞ ƉƌŝŵĂƌŝůLJ ĂƩƌŝďƵƚĞĚ ƚŽ ůŽƐƐĞƐ ŝŶ E/d, ;ͲϬ͘ϭйͿ ĂŶĚ ^^ ;Ͳϭ͘ϰйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϳ͘ϳй ŽĨ ƚŚĞ ŝŶĚĞdž͘ zĞĂƌ ƚŽ ĂƚĞ͕ ƚŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ŚĂƐ ƌĞƚƵƌŶĞĚ ϱϲ͘ϴй͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

Previous Current Price Weighting Change

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

ƋƵŝƟĞƐ ,Ăůƚ ĞĂƌŝƐŚ ZƵŶ͙E^ ^/ ƵƉ ϯďƉƐ dŚĞ EŝŐĞƌŝĂŶ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƌĞďŽƵŶĚĞĚ LJĞƐƚĞƌĚĂLJ͕ ĂůďĞŝƚ Ă ŵĂƌŐŝŶĂů ŐĂŝŶ͕ ĨŽůůŽǁŝŶŐ Ă ϮͲĚĂLJ ŶĞŐĂƟǀĞ ƚƌĞŶĚ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ƌŽƐĞ ϯďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϯϴ͕ϵϮϰ͘ϲϯ ƉŽŝŶƚƐ ǁŚŝůĞ zd ŐĂŝŶ ƐƚŽŽĚ Ăƚ ϰϰ͘ϴй͘ ĐĐŽƌĚŝŶŐůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ŝŶĐƌĞĂƐĞĚ ďLJ Eϯ͘ϳďŶ ƚŽ Eϭϯ͘ϲƚŶ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ ĐĂŶ ďĞ ŵĂũŽƌůLJ ĂĐĐŽƌĚĞĚ ƚŽ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ h E ;нϭϬ͘ϬйͿ͕ E'^h' Z ;нϯ͘ϵйͿ ĂŶĚ 'h Z Edz ;нϬ͘ϲйͿ͘ ^ŝŵŝůĂƌůLJ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ϯϮ͘Ϭй ĂŶĚ ϰϰϱ͘ϰй ƚŽ ϰϲϮ͘ϳŵ ƵŶŝƚƐ ĂŶĚ EϮϲ͘ϴďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƐƵƌŐĞ ŝŶ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ĐĂŶ ďĞ ƉƌŝŵĂƌŝůLJ ĂƩƌŝďƵƚĞĚ ƚŽ ƚƌĂĚĞƐ ŝŶ E' D͘

1,568.01

-0.01%

56.8%

56.8%

20.1%

6.3%

7.1x

0.8x

4.0%

11.1%

1

Guaranty Trust Bank PLC

41.90

0.6%

21.7%

69.6%

69.6%

26.0%

4.3%

8.7x

2.2x

4.9%

11.5%

2

Nigerian Brew eries PLC

143.32

0.2%

9.6%

-3.2%

-3.2%

18.9%

8.6%

35.3x

6.4x

2.5%

2.8%

3

Zenith Bank PLC

26.00

-0.1%

13.0%

76.3%

76.3%

21.7%

3.2%

5.1x

1.1x

7.8%

19.5%

4

Dangote Cement PLC

241.00

0.0%

6.4%

38.5%

38.5%

30.4%

15.7%

16.6x

4.8x

3.5%

6.0%

5

Nestle Nigeria PLC

1,460.10

0.0%

7.4%

80.3%

80.3%

78.4%

19.0%

38.0x

25.2x

1.7%

2.6%

-1.4%

4.7%

90.8%

90.8%

15.1%

2.0%

4.5x

0.6x

5.8%

22.2%

-0.9%

5.5%

130.2%

130.2%

17.2%

2.2%

4.5x

0.8x

7.2%

22.0%

15.1x

6

Access Bank PLC

11.20

7

United Bank for Africa PLC

10.36

8

FBN Holdings Plc

9

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ďĞĂƌŝƐŚ ĂƐ ϰ ŽĨ ϱ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ďŝŐŐĞƐƚ ůŽƐĞƌ ƐŚĞĚĚŝŶŐ Ϭ͘ϰй ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ DK /> ;Ͳϯ͘ϳйͿ͘ &ŽůůŽǁŝŶŐ ĐůŽƐĞůLJ ǁĞƌĞ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ǁŚŝĐŚ ĨĞůů Ϭ͘ϯй ĂƉŝĞĐĞ ĂŐĂŝŶƐƚ ƚŚĞ ďĂĐŬĚƌŽƉ ŽĨ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶƐ ŝŶ t W K ;Ͳ Ϭ͘ϵйͿ ĂŶĚ D E^ Z ;ͲϬ͘ϱйͿ ƌĞƐƉĞĐƟǀĞůLJ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ƐĞůů ŽīƐ ŝŶ d/ ;Ͳϰ͘ϬйͿ ĂŶĚ ^^ ;Ͳϭ͘ϰйͿ ĚƌĂŐŐĞĚ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž Ϭ͘ϭй ůŽǁĞƌ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ͕ ĂĚĚŝŶŐ Ϭ͘ϯй ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ E'^h' Z ;нϯ͘ϵйͿ ĂŶĚ E/' Z/ E Z t Z/ ^ ;нϬ͘ϮйͿ͘ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞƌƐͬ ĚĞĐůŝŶĞƌƐ ƌĂƟŽͿ ŝŵƉƌŽǀĞĚ ʹ ĂůƚŚŽƵŐŚ ƐƟůů ƐŽŌ Ͳ ƚŽ Ϭ͘ϵdž ĨƌŽŵ Ϭ͘ϱdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϮϬ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ƌĞůĂƟǀĞ ƚŽ Ϯϯ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵĞƌƐ LJĞƐƚĞƌĚĂLJ ǁĞƌĞ h E ;нϭϬ͘ϬйͿ͕ / DKE ;нϳ͘ϭйͿ ĂŶĚ Z' Z ;нϰ͘ϵйͿ ǁŚŝůĞ & D ;Ͳϰ͘ϳйͿ͕ &/ >/dz ;Ͳϰ͘ϲйͿ ĂŶĚ E , K ;Ͳϰ͘ϲйͿ ůĞĚ ƚŚĞ ůŽƐĞƌƐ ĐŚĂƌƚ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ƐŝŐŶĂůƐ ƚŚĂƚ ƚŚĞ ƌŽƵŶĚ ŽĨ ƉƌŽĮƚ ƚĂŬŝŶŐ ǁŝƚŶĞƐƐĞĚ ŝŶ ƚŚĞ ƉƌŝŽƌ ƚǁŽ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ŵĂLJ ďĞ ŽǀĞƌ͕ ŚĞŶĐĞ ǁĞ ĂŶƟĐŝƉĂƚĞ ŝŶĐƌĞĂƐĞĚ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ĂŚĞĂĚ͘ ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ ^ĞǀĞŶhƉ ŽƩůŝŶŐ ŽŵƉĂŶLJ WůĐ ; ͞ϳhƉ Žƌ ͞ƚŚĞ ŽŵƉĂŶLJ͟ ^ĞǀĞŶͲhƉ ŽƩůŝŶŐ ŽŵƉĂŶLJ WůĐ͘ ;͞ϳhW͟ Žƌ ͞ƚŚĞ ŽŵƉĂŶLJ͟Ϳ ƌĞĐĞŶƚůLJ ŝŶĨŽƌŵĞĚ ƚŚĞ ŝŶǀĞƐƟŶŐ ƉƵďůŝĐ ŽĨ ƚŚĞ ƉůĂŶ ďLJ īĞůŬĂ ^͘ ;͞ īĞůŬĂ͟Ϳ ʹ ƚŚĞ ŚŽůĚĞƌ ŽĨ ϳϯ͘Ϭй ŽĨ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƐŚĂƌĞƐ ŽƵƚƐƚĂŶĚŝŶŐ ʹ ƚŽ ĐŽŵƉůĞƚĞůLJ ďƵLJŽƵƚ ŵŝŶŽƌŝƚLJ ƐŚĂƌĞƐ ŝŶ ϳhW ĨŽƌ Ă ĐŽŶƐŝĚĞƌĂƟŽŶ ŽĨ EϭϭϮ͘ϳϬͬƐŚĂƌĞ ƌĞůĂƟǀĞ ƚŽ ƚŚĞ ŵĂƌŬĞƚ ƉƌŝĐĞ ŽĨ EϭϬϭ͘ϵϳ ;ϭϮͬϭϮͬϮϬϭϳͿ͘ ĐĐŽƌĚŝŶŐ ƚŽ ŝŶĨŽƌŵĂƟŽŶ ƐĞŶƚ ďLJ ƚŚĞ ŽĂƌĚ ŽĨ ϳhW ƚŽ ĚĞĂůŝŶŐ ŵĞŵďĞƌƐ ŽĨ ƚŚĞ EŝŐĞƌŝĂŶ ^ƚŽĐŬ džĐŚĂŶŐĞ͕ īĞůŬĂ ^͘ ;͞ īĞůŬĂ͟Ϳ ŚĂƐ ŵĂĚĞ ĂŶ ŽīĞƌ ƚŽ ĂĐƋƵŝƌĞ Ăůů ϭϳϭ͕ϱϰϮ͕ϱϳϰ ŽƵƚƐƚĂŶĚŝŶŐ ƐŚĂƌĞƐ ŽĨ ƚŚĞ ĐŽŵƉĂŶLJ ŶŽƚ ŽǁŶĞĚ ďLJ īĞůŬĂ͘ tŚŝůĞ ƚŚĞ ƉůĂŶŶĞĚ ƉƵƌĐŚĂƐĞ ŝƐ ƐƟůů ƐƵďũĞĐƚ ƚŽ ĂƉƉƌŽǀĂů ďLJ ƚŚĞ ƐŚĂƌĞŚŽůĚĞƌƐ Ăƚ Ă ŽƵƌƚͲKƌĚĞƌĞĚ ŵĞĞƟŶŐ͕ ƚŚĞ ŽŵƉĂŶLJ ŚĂƐ ƌĞĐĞŝǀĞĚ Ă ͞EŽ KďũĞĐƟŽŶ͟ ĨƌŽŵ ƚŚĞ ^ĞĐƵƌŝƟĞƐ ĂŶĚ džĐŚĂŶŐĞ ŽŵŵŝƐƐŝŽŶ ;͞^ ͟Ϳ͘ /Ŷ ŝƚƐ ůĂƚĞƐƚ &z͗ϮϬϭϳ ĮŶĂŶĐŝĂů ƌĞƐƵůƚƐ͕ ϳhW͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ ĚĞƚĞƌŝŽƌĂƚĞĚ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƌŝƐŝŶŐ ĚŝƌĞĐƚ ĂŶĚ ŝŶĚŝƌĞĐƚ ĐŽƐƚ ƉƌŽĮůĞƐ ĂƐ ǁĞůů ĂƐ ĮŶĂŶĐĞ ĐŚĂƌŐĞƐ ĚĞƐƉŝƚĞ ŐƌŽǁŝŶŐ ƌĞǀĞŶƵĞ ĐŽŶƐŝĚĞƌĂďůLJ͘ dŚĞ ŽŵƉĂŶLJ ƌĞĐŽƌĚĞĚ Ă EϭϬϴ͘ϯďŶ ĞdžƉĂŶƐŝŽŶ ŝŶ ƌĞǀĞŶƵĞ ĂŶĚ Ă ůŽƐƐ ĂŌĞƌ ƚĂdž ŽĨ EϭϬ͘ϴďŶ͘ ZĞǀĞŶƵĞ ƌŽƐĞ Ϯϲ͘ϱй zͲŽͲz ;ĨƌŽŵ Eϴϱ͘ϲďŶ ŝŶ &z͗ϮϬϭϲ ƚŽ EϭϬϴ͘ϯďŶ ŝŶ &z͗ϮϬϭϳͿ͘ WĞƌĨŽƌŵĂŶĐĞ ƌĞŵĂŝŶĞĚ ƉƌŝŵĂƌŝůLJ ƐƵƉƉŽƌƚĞĚ ďLJ ůŽĐĂů ƐĂůĞƐ ;ƵƉ Ϯϲ͘ϯй zͲŽͲz ƚŽ EϭϬϴ͘ϬďŶͿ ĚĞƐƉŝƚĞ ƌĞŵĂƌŬĂďůĞ ŐƌŽǁƚŚ ŝŶ ĞdžƉŽƌƚƐ ƚŽ ŶĞŝŐŚďŽƌŝŶŐ ĐŽƵŶƚƌŝĞƐ ;ƵƉ ϭϰϯϬ͘ϳй zͲŽͲz ƚŽ EϮϳϰ͘ϬŵͿ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ĨĂƐƚĞƌ ŐƌŽǁƚŚ ŝŶ ŽƐƚ ŽĨ ^ĂůĞƐ ;ƵƉ ϱϳ͘ϰй ƚŽ Eϵϱ͘ϯďŶͿ ŵƵƚĞĚ ƚŚĞ ŐƌŽǁƚŚ ŝŶ ƚŽƉ ůŝŶĞ ĚĞƐƉŝƚĞ ŵĂƌŐŝŶĂů ƐƵƉƉŽƌƚ ĨƌŽŵ KƚŚĞƌ /ŶĐŽŵĞ ;ƵƉ ϯϰ͘ϱйzͲŽͲz ƚŽ EϰϮϳ͘ϬŵͿ͘ ^ƵƐƚĂŝŶĞĚ ŚŝŐŚ EĞƚ ĮŶĂŶĐĞ ĐŽƐƚƐ ;ƵƉ Ϯϱ͘Ϭй zͲŽͲz ƚŽ Eϰ͘ϬďŶͿ ǁĞŝŐŚĞĚ ŽŶ ƉƌŽĮƚĂďŝůŝƚLJ͕ ƌĞĐĞĚŝŶŐ ĨƌŽŵ Ă ƉƌŽĮƚ ĂŌĞƌ ƚĂdž ŽĨ Eϯ͘ϯďŶ ŝŶ &z͗ϮϬϭϲ ƚŽ Ă ůŽƐƐ ŽĨ EϭϬ͘ϴďŶ ŝŶ &z͗ϮϬϭϳ͘ ^ŝŵŝůĂƌůLJ͕ ŝŶ ŝƚƐ ,ϭ͗ϮϬϭϴ ŝŶƚĞƌŝŵ ƌĞƉŽƌƚ͕ ƌĞǀĞŶƵĞ ĨŽƌ ƚŚĞ ƉĞƌŝŽĚ ƌŽƐĞ ϱ͘ϰй zͲŽͲz ƚŽ EϮϭ͘ϱďŶ ǁŚŝůĞ ŽƐƚ ŽĨ ƐĂůĞƐ ƐƚĂLJĞĚ ŇĂƚ Ăƚ Eϭϴ͘ϮďŶ ʹ ĂůďĞŝƚ ƚĂŬŝŶŐ ƵƉ ϴϰ͘Ϭй ŽĨ ƌĞǀĞŶƵĞ͘ >ŝŬĞǁŝƐĞ͕ ƚŚĞ ƵƉƚƌĞŶĚ ŝŶ EĞƚ ĮŶĂŶĐĞ ĐŽƐƚƐ ĐŽŶƟŶƵĞĚ͕ ƐƵƌŐŝŶŐ ϵϲ͘ϵй zͲŽͲz ƚŽ Eϭ͘ϵďŶ͘ ĐŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ Ă ůŽƐƐ ŽĨ Eϯ͘ϴďŶ ǁĂƐ ƌĞĐŽƌĚĞĚ ĨŽƌ ƚŚĞ ƉĞƌŝŽĚ͘ &ŽůůŽǁŝŶŐ ƚŚĞ ƉůĂŶŶĞĚ ĂĐƋƵŝƐŝƟŽŶ ŽĨ ƚŚĞ ŽƌĚŝŶĂƌLJ ƐŚĂƌĞƐ ŽĨ ŵŝŶŽƌŝƚLJ ŝŶǀĞƐƚŽƌƐ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ Ă ƉŽƐƐŝďůĞ ĚĞůŝƐƟŶŐ ŽĨ ϳhW ĨƌŽŵ ƚŚĞ ƐƚŽĐŬ ĞdžĐŚĂŶŐĞ͘

Afrinvest Securities Lim-

THISDAY AFRINVEST 40

(RC 603 315)

(A Dealing Member of the Nigerian Stock Exchange)

Divinden Earnings d Yield Yield

Ecobank Transnational Inc

9.29

2.1%

5.7%

177.3%

177.3%

2.6%

0.3%

17.26

-4.0%

2.8%

67.9%

67.9%

-14.6%

-1.3%

47.00

-0.9%

1.7%

21.3%

21.3%

47.1%

9.8%

501.31

0.0%

1.8%

31.9%

31.9%

-12.4%

-6.7%

4.2x

0.5x

2.2%

6.6%

0.6x

3.5%

-20.1%

7.1x

2.1%

10

Lafarge Africa PLC

11

SEPLAT Petroleum Development C

12

Unilever Nigeria PLC

40.50

0.0%

1.5%

27.3%

27.2%

50.3%

8.4%

24.9x

9.5x

0.2%

4.0%

13

Stanbic IBTC Holdings PLC

41.50

-1.2%

2.8%

176.7%

176.7%

28.7%

3.4%

9.6x

2.5x

1.4%

10.5%

14

Guinness Nigeria PLC

94.05

1.5%

1.2%

19.7%

19.7%

4.5%

1.4%

66.2x

3.3x

0.7%

5.99

0.0%

1.2%

27.4%

27.4%

40.7%

4.2%

2.7x

0.6x

44.50

0.0%

0.6x

23.8% -20.9%

1.5%

15

Oando PLC

37.0%

16

Forte Oil PLC

0.5%

-47.3%

-47.3%

44.3%

3.7%

11.2x

5.0x

17

11 PLC

168.50

-3.7%

0.4%

-39.6%

-39.6%

32.6%

12.0%

8.9x

2.5x

4.7%

11.2%

18

Total Nigeria PLC

230.00

0.0%

0.5%

-23.1%

-23.1%

37.3%

7.4%

8.6x

3.0x

2.6%

11.7%

0.0%

10.0%

8.9%

19

Okomu Oil Palm PLC

75.00

1.2%

86.7%

86.7%

37.4%

25.9%

10.0x

3.3x

2.1%

20

UAC of Nigeria PLC

17.00

1.8%

0.6%

3.1%

3.0%

6.3%

2.2%

10.9x

0.7x

5.8%

9.2%

21

Conoil PLC

28.00

0.0%

0.3%

-25.3%

-25.3%

12.8%

3.5%

8.1x

1.1x

11.2%

12.3%

22

Fidelity Bank PLC

2.26

-4.6%

1.1%

169.0%

169.0%

8.0%

1.1%

2.0x

0.3x

6.2%

50.7%

23

Dangote Sugar Refinery PLC

21.50

3.9%

1.4%

251.9%

251.9%

23.8%

10.3%

8.4x

3.6x

2.3%

11.9%

24

Flour Mills of Nigeria PLC

34.19

0.0%

0.8%

101.5%

101.5%

10.4%

2.6%

9.4x

0.9x

2.7%

10.6%

3.93

0.0%

0.4%

1.0%

1.0%

18.9%

7.6%

4.1x

0.7x

7.1%

101.97

0.0%

0.3%

-21.0%

-21.0%

-56.7%

-13.9%

25

Custodian and Allied Insurance

26

7 UP Bottling Co PLC

27

Julius Berger Nigeria PLC

4.9x

27.00

0.0%

0.3%

-30.0%

-30.0%

-12.2%

-1.2%

-4.7%

0.4%

10.9%

10.9%

3.8%

0.6%

3.5x

0.1x

24.3% -16.5%

1.4x

-8.4%

28

FCMB Group Plc

1.22

29

Transnational Corp of Nigeria

1.45

0.7%

0.6%

66.7%

66.7%

19.6%

4.1%

5.8x

1.0x

30

Diamond Bank PLC

1.50

7.1%

0.6%

70.5%

70.5%

2.5%

0.3%

6.1x

0.1x

31

Presco PLC

68.41

0.0%

0.5%

70.6%

70.6%

42.9%

25.9%

3.4x

1.2x

2.2%

29.7%

32

PZ Cussons Nigeria PLC

22.10

-3.9%

0.4%

52.4%

52.4%

11.5%

5.8%

18.9x

2.1x

2.3%

5.3%

33

International Brew eries PLC

54.98

-2.9%

0.8%

197.2%

197.2%

24.6%

7.4%

57.6x

13.1x

1.7%

34

Cadbury Nigeria PLC

16.35

0.0%

0.4%

58.9%

58.9%

4.5%

1.6%

46.6x

2.7x

2.1%

35

Union Bank of Nigeria PLC

7.91

10.0%

0.4%

65.7%

65.8%

5.6%

1.2%

10.1x

0.5x

36

Chemical and Allied Products P

33.93

0.0%

0.2%

6.0%

6.0%

84.3%

38.5%

14.8x

10.4x

28.3% 17.3% 16.5%

9.9% 6.5%

6.7%

1.04

-4.6%

0.2%

36.8%

36.8%

6.1%

0.6%

5.5x

0.3x

22.74

0.0%

0.3%

44.4%

44.4%

61.2%

23.6%

4.7x

1.7x

1.4%

21.2%

AXA Mansard Insurance PLC

2.00

-0.5%

0.1%

19.8%

19.8%

11.9%

3.9%

10.0x

1.2x

2.5%

10.0%

Continental Reinsurance PLC

1.39

0.0%

0.1%

40.4%

40.4%

9.6%

4.4%

8.1x

0.8x

37

Sterling Bank PLC

38

GlaxoSmithKline Consumer Niger

39 40

8.2%

T o p 10 G a i n e r s T ic k er

18.3%

12.3%

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

7.91

10.0%

D A N GC EM

95.5

0.0%

D IA M ON D B N K

1.50

7.1%

D IA M ON D B N K

51.2

7.1%

B ER GER

7.71

4.9%

FB NH

49.9

2.1%

C A VER T ON

1.38

4.5%

FCM B

48.1

-4.7% -0.5%

N A SC ON

19.50

4.1%

M A N SA R D

39.9

D A N GSUGA R

21.50

3.9%

Z EN IT H B A N K

35.2

-0.1%

ET ER N A

4.30

3.9%

F ID ELIT YB K

20.8

-4.6%

D A N GF LOUR

12.00

2.9%

T R A N SC OR P

17.6

0.7%

C UT IX

2.06

2.5%

UB A

15.0

-0.9%

A F R IP R UD

4.15

2.5%

A C C ESS

13.1

-1.4%

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

T ic k er

P ric e

P ric e C hg %

FCM B

1.22

-4.7%

D A N GC EM

F ID ELIT YB K

2.26

-4.6%

NA HCO

4.32

LIN KA SSUR E ST ER LN B A N K UA C -P R OP

Value

P ric e C hg %

23310.1

0.0%

Z EN IT H B A N K

915.8

-0.1%

-4.6%

FB NH

456.7

2.1%

0.62

-4.6%

GUA R A N T Y

311.8

0.6%

1.04

-4.6%

UA C N

205.2

1.8%

2.67

-4.3%

UN ILEVER

160.0

0.0% -0.9%

0.91

-4.2%

UB A

156.5

ET I

17.26

-4.0%

A C C ESS

147.0

-1.4%

PZ

22.10

-3.9%

IN T B R EW

115.3

-2.9%

168.50

-3.7%

N EST LE

111.6

0.0%

LEA R N A F R C A

M OB IL

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

41

˾ WEDNESDAY, DECEMBER 13, 2017

MARKET NEWS

DMO Pledges Partnership to Develop Nation’s Capital Market Goddy Egene The Debt Management Office (DMO) has stated its readiness to continually partner the media and other stakeholders to develop the nation’s capital market. The Director, Portfolio Management, DMO, Mr. Oladele Afolabi stated this recently in Lagos while speaking at the annual conference of Capital Market Correspondents Association of

Nigeria (CAMCAN). Afolabi, who spoke on: “Deepening the nation’s capital market for economic growth,” disclosed that DMO had, over the years, worked with stakeholders to develop Nigeria’s capital market. “By resuscitating the bond market, the DMO provided an avenue for other issuers – such as sub-nationals, corporates and supranational institutions, to raise long-term funding for

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

developmental projects. The activities of the DMO, and other operators, have facilitated the establishment of standard and transparent primary issuance systems. A vibrant and liquid secondary market has also been created,” he said. According to him, as professionals with a special focus on the capital market, members of CAMCAN are uniquely positioned to support the DMO’s initiatives in various

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 11Dec-2017, unless otherwise stated.

ways such as: “improving the level of financial literacy – educating Nigerians about the financial markets, to improve their knowledge and guide them to make informed choices. Dissemination of accurate information about Nigeria’s public debt and the initiatives of the DMO.” He noted that they can also highlight the opportunities available for investors – domestic and foreign – in the Nigerian

economy. Afolabi stressed that the DMO has been deepening the FGN securities market by introducing new borrowing instruments to provide additional options for financing the government’s operations. The DMO has also continued to diversify the investor base for FGN securities to ensure that the Government’s financing plans are successfully executed while lowering the cost of borrowing.

“In 2017, the DMO introduced the FGN Savings Bond – for retail investors, the Sovereign Sukuk – for ethical and non-interest investors, while a Green Bond is planned before the end of 2017. These products provide new sources for financing infrastructure and also provide opportunities for more Nigerians to participate in national development, while earning income on their investments,” he said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 185.39 186.79 46.24% Nigeria International Debt Fund 235.06 236.61 11.30% 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 0.83 0.84 18.14% ACAP Income Funds 0.64 0.64 82.24% 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 18.45% 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 19.30 19.88 56.28% ARM Discovery Fund 397.06 409.03 38.26% ARM Ethical Fund 27.71 28.55 24.04% ARM Money Market Fund 1.00 1.00 17.66% 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 153.60 154.68 46.03% AXA Mansard Money Market Fund 1.00 1.00 18.16% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 18.68% Paramount Equity Fund 12.07 12.38 28.96% Women’s Investment Fund 98.08 100.60 15.94% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 17.75% CORONATION ASSET MANAGEMENT investment@coronation.com Web: www.coronation.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 18.18% Coronation Balanced Fund 1.08 1.10 9.33% Coronation Fixed Income Fund 1.02 1.06 3.94% FBN CAPITAL ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,136.22 1,137.39 11.98% FBN Heritage Fund 151.36 152.68 35.78% FBN Money Market Fund 100.00 100.00 17.60% FBN Nigeria Eurobond (USD) Fund - Institutional 112.16 113.07 9.00% FBN Nigeria Eurobond (USD) Fund - Retail 111.61 112.52 9.22% FBN Nigeria Smart Beta Equity Fund 172.68 175.25 53.39% 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 1.43 1.46 53.72% Legacy Short Maturity (NGN) Fund 2.97 2.97 15.53% 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 3,012.15 3,051.36 36.92% Coral Income Fund 2,449.96 2,449.96 17.54% 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 17.40% 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 17.67% Vantage Balanced Fund 2.13 2.16 26.91% Vantage Guaranteed Income Fund 1.00 1.00 18.29% Kedari Investment Fund (KIF) 114.12 114.12 17.61%

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 1.20 1.22 21.19% Lotus Halal Fixed Income Fund 1,049.85 1,049.85 11.36% 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 14.11 14.22 45.96% 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 1.26 24.02% PACAM Fixed Income Fund 11.00 11.07 5.88% PACAM Money Market Fund 10.00 10.00 16.68% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.03 133.01 29.14% 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 2,246.33 2,259.44 22.68% Stanbic IBTC Bond Fund 176.31 176.31 14.52% Stanbic IBTC Ethical Fund 1.01 1.02 31.82% Stanbic IBTC Guaranteed Investment Fund 218.46 218.46 16.89% Stanbic IBTC Iman Fund 180.98 183.30 39.39% Stanbic IBTC Money Market Fund 100.00 100.00 17.67% Stanbic IBTC Nigerian Equity Fund 9,722.73 9,837.11 28.22% Stanbic IBTC Dollar Fund (USD) 1.06 1.06 6.00% 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 1.34 1.35 19.73% United Capital Bond Fund 1.53 1.53 25.45% United Capital Equity Fund 0.94 0.96 39.57% United Capital Money Market Fund ZENITH ASSETS MANAGEMENT LTD Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Zenith Equity Fund Zenith Ethical Fund Zenith Income Fund

1.00

Bid Price 12.90 13.56 18.96

1.00 17.10% info@zenith-funds.com Offer Price 13.09 13.71 18.96

Yield / T-Rtn 32.66% 23.71% 14.60%

NAV Per Share

Yield / T-Rtn

10.00

-11.35%

132.29

6.71%

Bid Price

Offer Price

Yield / T-Rtn

12.06

12.16

39.41%

REITS Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40

146.07

149.23

47.65%

Stanbic IBTC ETF 30 Fund

111.89

114.00

47.66%

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

4.94 9.71 18.25 20.84 145.42

4.98 9.79 18.35 21.04 147.42

78.21% 37.91% 53.89% 30.47% 14.55%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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Vol. 1 Issue 23 Dec. 13, 2017

Nextier Power is a consulting firm that provides policy advisory, investment advisory, and support services to the electricity supply industry. The firm aims to use this weekly publication to educate Nigerians on the intricacies of the Nigeria electricity supply industry on the assumption that a more informed public would advocate for the right policies and programmes which, in turn, would lead to a robust market that delivers the electricity needs of Nigerians. This column will cover everything from the basics of the industry to the more intricate, sometimes, complex policies and programmes.

FUTURE OF TCN: Regionalisation of the Grid as gas and coal are abundant in the southern region therefore; operating fossil-fuel powered plants would also be more economical compared to the north.

Introduction This article is a continuation of the Transmission Company of Nigeria (TCN) series on the possible solutions to the many challenges that plague the network (https://goo.gl/VWfsYq). Having discussed the possibility of privatisation in the previous article, this discusses regionalisation of the grid as a way of improving efficiency in transmission.

Investment Opportunities In order to attract investors in the abovementioned scenarios, the government would have to enter into a public-privatepartnership with credible investors. Given the financial implication of transitioning from a national grid to regional grids, the government would also require private sector funding. The only way to attract this funding and ensure investor confidence would be for the government to hold minority equity of about 20%, limiting its role to supervisory and regulatory, and ensure the investors of cost-reflective tariff.

Current Grid Capacity The transmission capability of TCN is estimated to be about 6GW. The transmission network, with entirely radial infrastructure, comprises of approximately 6,680km of 132kV lines, 7,780km of 132kV lines and 330/132kV substations among others, bringing the total capacity of the network to 7,500MW on paper. However, the reality is different as current transmission wheeling capacity is at 5,300MW, significantly below the total capacity. Although transmission wheeling capacity (5,300MW) is higher than average operational generation capacity of 3,879MW, it is far below the total installed generation capacity of 12,522MW. This disparity, together with the radial infrastructure, is responsible for the inherent reliability issues as the radial lines do not give room for redundancies; hence, the need for regionalisation. Regionalising the Grid Regionalisation of the grid simply means splitting the national grid to serve different regions. A significant advantage of regionalised grid is the ability to better manage power supply and demand in each region and limit the blackout effect caused by any system collapse to that region. Examples of Grids Around the World In the United States of America, the Continental United States power transmission grid powers the entire mainland North America. It is made-up of five electric grid units that are linked by high voltage, direct current (HVDC) interconnections. These grids are; x Eastern Interconnection This is one of the two major electric grids in North America. It provides electricity to communities in central Canada (except Quebec), the Southern region of the US and to the foot of the Rocky Mountains. The Eastern Interconnection is linked to the Western and Texas Interconnections with six and two DC lines respectively and to Quebec Interconnection with four DC lines. x

Western Interconnection The Western Interconnection is the other of the two major electric

x

x

x

grids in North America. It stretches from Western Canada south to Baja California in Mexico, reaching eastward over the Rocky Mountains to the Great Plains. Texas Interconnection The Texas Interconnection is one of the three minor power grids in North America as it has a relatively smaller coverage area. It services most of the state of Texas. Quebec Interconnection This is also a minor electrical grid in North America covering all of the province of Quebec. The Quebec Interconnection links 18 systems in the US and Canada to one electric utility company. It is often considered to be part of the Eastern Interconnection because of its unique status. Alaska Interconnection The Alaska Interconnection, the last of the three minor grids, is composed of two isolated grids.

This model has helped connect grid operators in the respective regions so they can share resources more easily and efficiently. Besides the benefits that accrue to efficient sharing of resources among operators, regionalisation comes with other benefits that could mean reduced operating cost and lower tariffs for final consumers. It should be noted that regionalised grids could easily accommodate the integration of renewable energy sources at a lower cost compared to the national grid. This translates not only into lower tariffs for consumers, but also promotes environmental sustainability. Finally, regionalised grids help tackle the issue of electricity storage as excess generated

electricity in one region can be traded to another region that has need for it. Possible Models for Regionalisation Nigeria operates a National grid that is responsible for providing electricity to the entire nation. This model has failed to perform efficiently as it is exposed to challenges that could be easily addressed by the regionalisation of the grid. With the existence of several utility companies servicing various jurisdictions in the country, the option of regional grid is feasible. In the short-run, the nation could start with two regional grids to service the northern and southern regions of the country. In this scenario, each distribution company would form a part of one of the two regional grids, depending on the jurisdiction they are currently responsible for and its location. Another applicable model will be to regionalise the grid in line with the existing TCN structure i.e. splitting the national grid in a similar manner to the current TCN geographical division. With the TCN already split into 8 regions, splitting the national grid into these same regions stands to reduce the complexity involved in this transition as it would primarily involve the modification of existing infrastructure as opposed to a fresh start. The models mentioned above would give room for the integration of renewable energy at a significantly lower cost. Also, each region would generate electricity from the best possible energy source in terms of availability. The north would be expected to set the pace in renewable energy-solar and wind in particular. The southern region would have a good energy mix that comprises fossil fuel and renewable energy. The relatively high level of rainfall in this region would make it more economical to operate hydropower plants. Natural resources such

Sustainability The sustainability of this model is heavily dependent on the energy policies in place. Without policies that create an enabling environment for its implementation, regionalisation would fail. Regions should be given autonomy when it comes to formulating policies in the industry as each region has characteristics that are unique to them. For example, regions with high quantity of fossil fuel deposits would require less-aggressive policies aimed at reducing greenhouse gas emission and vice versa. This approach has proven to be successful in several developed and emerging economies; hence, Nigeria should not be an exception. Conclusion It is recommended that the government carefully considers the options presented above (and more) as the government-run national grid has failed to perform efficiently over the years. With the generation capacity significantly higher than the transmission wheeling capacity, electricity is wasted in a country that is in dire need of it. The regionalised grid system would significantly reduce electricity waste as each grid’s transmission wheeling capacity would be proportional to the region’s average generation capacity. Issues like this and the fear of an increased tariff among others would be addressed by a regional grid model. Author Mazi Okoronkwo is a power sector analyst Editor Chinazo Ifeanyi-Nwaoha is a power sector analyst focused on the interplay of policy-practice and regulation Next Topics Dec. 13

TCN Workforce Structure

Dec. 20

Transmission Infrastructure Demands

Dec. 27

Distribution Infrastructure Demands

www.nextierpower.com empower@nextierpower.com

T H I S D AY WEDNESDAY DECEMBER 13, 2017

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SUCCESSFUL CANDIDATES FOR DIRECT SHORT SERVICE COMMISSION COURSE 25 SELECTION BOARD Applicants who sat for the Nigerian Navy Direct Short Service Commission (DSSC) Course 25 Aptitude Test are hereby QRWL¿HG WR FKHFN www.joinnigeriannavy.com for the list of successful candidates. Successful candidates are to report at the Nigerian Navy Secondary School Ojo, Lagos State on Friday 15 December IRU DQ ,QWHUYLHZ ZKLFK ZLOO WDNH SODFH IURP WR December 2017. The Interview will involve the screening of academic FHUWL¿FDWHV DQG FUHGHQWLDOV PHGLFDO DQG SK\VLFDO ¿WQHVV tests, written and oral examinations. Candidates are to come along with the following items: D 2ULJLQDO DQG SKRWRFRSLHV RI DFDGHPLF FHUWL¿FDWHV DQG credentials including: 1DWLRQDO ,GHQWLW\ &DUG DFNQRZOHGJHPHQW VOLS admissible). )LUVW 6FKRRO /HDYLQJ &HUWL¿FDWH DQG 6HQLRU 6HFRQGDU\ 6FKRRO &HUWL¿FDWHV :$(& 1(&2 HWF ZLWK VFUDWFK FDUGV IRU YHUL¿FDWLRQ UHVXOWV RULJLQDO FRS\ RI :HVW $IULFDQ ([DPLQDWLRQ &RXQFLO &HUWL¿FDWH LV FRPSXOVRU\ &HUWL¿FDWHV IURP WHUWLDU\ LQVWLWXWLRQV )HGHUDO 0LQLVWU\ RI (GXFDWLRQ DXWKHQWLFDWLRQ RI IRUHLJQ FHUWL¿FDWHV 1<6& 'LVFKDUJH ([HPSWLRQ &HUWL¿FDWH %LUWK &HUWL¿FDWH 'HFODUDWLRQ RI $JH &HUWL¿FDWH RI /RFDO *RYHUQPHQW RI RULJLQ (8) Two (2) recent coloured passport-sized photographs. E :ULWLQJ PDWHULDOV F 7KUHH SDLUV RI ZKLWH XQPDUNHG YHVWV DQG navy blue shorts. d. A pair of white canvas shoes/trainers. e. Two bed sheets and pillow cases. f. A set of cutlery. g. Toiletries. Candidates who fail to report on 15 December 2017 will be GLVTXDOL¿HG Signed Navy Secretary for Chief of the Naval Staff

WEDNESDAY, ͚͝Ë&#x153; ͺ͸͚Ϳ Ëž T H I S D AY

55

NEWS

Premiere of Wedding Party 2 Dazzles with Display of Middle Eastern Glamour The ELFIKE Film Collective, a partnership between EbonyLife Films, FilmOne Distribution, Inkblot Productions and Koga Studios, organised a one-of-a-kind premiere of The Wedding Party 2: Destination Dubai at the weekend in the Eko Hotel & Suites, Victoria Island, Lagos. They upped the ante with the event, courtesy of an Arabian-inspired dress code and matching dĂŠcor. Throngs of guests, dressed in gorgeous Arabian chic outfits, added to the spirit of the occasion. The premiere had some of Nigeriaâ&#x20AC;&#x2122;s most celebrated and influential individuals in business, entertainment and politics in attendance, including the wife of Nigeriaâ&#x20AC;&#x2122;s vice-president Mrs. Yemi Osinbajo; Mrs Toyin Saraki, wife of the Senate President; Senator Florence Ita-Giwa; former governor of Cross River State, Sen. Liyel Imoke and Mrs. Imoke; Mr. Nduka Obaigbena, Chairman/ Editor-in-Chief, THISDAY Newspapers and ARISE News Channel; Mr. Tony Elumelu, Chairman, United Bank for Africa; Mr. Herbert Wigwe, CEO, Access Bank; and Mrs. Maiden Ibru, Publisher, Guardian Newspaper. Minister of Information and Culture, Mr. Lai Mohammed, spoke about how proud

he was to be leading an industry that is growing and improving in leaps and bounds, exemplified by films such as The Wedding Party and its sequel. In turn, the minister was lauded by members of the ELFIKE Collective for his exceptional leadership at the federal level and his accessibility, whenever his assistance and intervention are required. Mo Abudu, CEO, EbonyLife Films, was grateful for the turnout. â&#x20AC;&#x153;Thank you all so much for showing up tonight; it means a lot to us. It is important to keep telling positive stories about Nigeria. Youâ&#x20AC;&#x2122;re in for a treat with this sequel,â&#x20AC;? she said. Kene Mkparu, CEO of FilmOne Distribution, spoke about the scope of the international release of The Wedding Party 2. â&#x20AC;&#x153;This film is opening all across Africa, the U.S., UK, Middle East and Canada, and will be available in four languages. This shows that we can make movies in Nigeria that appeal to the rest of the world.â&#x20AC;? During dinner, guests were entertained with crowdpleasing performances by an array of top artistes, such as the legendary King Sunny Ade, Seyi Shay and Reekado Banks. A highlight of the evening

Cast of the Wedding Party 2: Destination Dubai during filming of the movie was the screening of the hilarious romantic comedy, The Wedding Party 2: Destination Dubai. It raised smiles, gales of laughter and excited rounds of applause from guests. Another high point of the event was the â&#x20AC;&#x2DC;Best Dressedâ&#x20AC;&#x2122; competition, with male and female guests vying to win business-class flight tickets to Dubai on Emirates Airlines, with 5-star accommodation at the various Hyatt hotels and a range of exciting tours

included. Those wearing the most authentic Emirati-style outfits were judged onstage by Stella Obinwa, Director Africa, and her colleagues from Dubai Tourism. Eventually, popular actress Shaffy Bello and highly-rated singer Isaac Geralds emerged winners from the star-studded audience. Runners-up were amply consoled with brand-new Nokia 5 smartphones.

Thanks to a live broadcast from the red carpet on EbonyLife TV and social media, fans at home were not left out of the excitement. #TWP2Premiere was trending for hours, with comments such as: â&#x20AC;&#x153;These celebrities showed up and showed out for this premiereâ&#x20AC;? and â&#x20AC;&#x153;look at the way Nigerians are slaying the Arabian-themed #TWP2Premiere.â&#x20AC;? Following the screening was a lit after-party, hosted

by media partner MTV Base and DJs Obi and Cuppy who shut the house down. A spectacular belly dance performance by Korra & the Sirens and a spontaneous electric-slide dance from guests added to the fun, party atmosphere. When the night was finally over, attendees left with gifts in an exclusive goodie bag, thanks to event sponsors Dubai Tourism, Nokia and other partners.

where necessary.â&#x20AC;? The federal government had on September 11, 2015, filed a 13-count charge on false asset declaration against Saraki and later amended the charges and increased them to 18. During the trial, four witnesses were called and 48 documents were tendered by the federal government to establish the case of false asset declaration against Saraki. However, at the close of the prosecutionâ&#x20AC;&#x2122;s case, Saraki made a no case submission on the grounds that he was not linked directly to any of the charges and that the charges were based on hearsay. The tribunal headed by Mr. Danladi Yakubu Umar, in his ruling on the no case submission delivered on June 14, 2017, upheld Sarakiâ&#x20AC;&#x2122;s claim that the charges were based on hearsay and discharged and acquitted him of the 18-count charge. Not satisfied with the ruling, the federal government approached the appellate court to upturn the decision. However, reacting to the courtâ&#x20AC;&#x2122;s ruling yesterday, Mr. Yusuph Olaniyonu, media aide to the Senate President, said the verdict had vindicated Sarakiâ&#x20AC;&#x2122;s innocence by upholding the decision of the CCT that he had no case to answer on 15 of the 18 charges filed against him by the federal government. According to Olaniyonu, â&#x20AC;&#x153;At least, todayâ&#x20AC;&#x2122;s (yesterdayâ&#x20AC;&#x2122;s) judgment has confirmed the position of the tribunal that the prosecutionâ&#x20AC;&#x2122;s case was entirely based on hearsay, not on any concrete evidence.

â&#x20AC;&#x153;The verdict of the Court of Appeal, just like that of the tribunal before it, aligned with our position that the preposterous claims made during the trial by the prosecution concerning the operation of foreign accounts, making anticipatory declarations, collecting double salaries, owning assets beyond his income, and failure to declare assets owned by companies in which the Senate President owns interests, among others, have fallen like a pack of cards and lacked no basis. â&#x20AC;&#x153;On the remaining three counts, which really touch on two issues, referred back to the tribunal for the Senate Presidentâ&#x20AC;&#x2122;s defence, it should be noted that the appellate court only gave a summary of

its decision today, promising to provide the parties with Certified True Copies of the judgment soon. â&#x20AC;&#x153;As soon as it makes the details of the judgment available, our lawyers will review the grounds of the decision and take appropriate action. â&#x20AC;&#x153;We remain convinced about the innocence of the Senate President on the three (or two) counts because we believe the decision of the Court of Appeal is not consistent with the submissions made by both parties at the tribunal. Thus, it is our view that that aspect of the judgment will not stand. â&#x20AC;&#x153;The confidence and faith of Dr. Saraki in the nationâ&#x20AC;&#x2122;s judiciary and its ability to dispense justice to all manners of people remains unshaken.â&#x20AC;?

Aâ&#x20AC;&#x2122;COURT AFFIRMS CCT RULING ON 15 CHARGES AGAINST SARAKI to adjudicate and reverse the Court of Appealâ&#x20AC;&#x2122;s decision on the three charges. Usoroâ&#x20AC;&#x2122;s statement was reaffirmed by another one issued by Sarakiâ&#x20AC;&#x2122;s media adviser, Mr. Yusuph Olaniyonu, who said that the Senate Presidentâ&#x20AC;&#x2122;s lawyers would review the grounds of the decision on the three charges and take appropriate action, but maintained that the verdict on the 15 charges had vindicated Saraki. Counsel to the federal government, Mr. Rotimi Jacobs (SAN) also said that his team would study the judgment and decide on the next line of action. The Appeal Court had upheld the ruling of the CCT on the remaining 15 counts on the grounds that the prosecution was not able to prove the charges against the Senate President. A three-man panel of the court led by Justice Tinuade Akomolafe-Wilson, in a judgment delivered yesterday on the appeal by the federal government against the ruling of the CCT, held that the prosecution established a prima facie case against the respondent in counts 4, 5 and 6. Counts 4, 5 and 6 border on the purchase of two properties â&#x20AC;&#x201C; Nos. 17 A and B, McDonald Street, Ikoyi, Lagos, by Saraki. In view of this, the appellate court therefore remitted the case to the CCT for the Senate President to open his defence in the said charges. Delivering its judgment on the federal governmentâ&#x20AC;&#x2122;s appeal of the ruling of the

CCT, Justice Akomolafe-Wilson in the 70-page unanimous ruling held that there was no evidence to substantiate 15 of the 18 charges against Saraki. According to the Court of Appeal, the prosecution established that there were discrepancies in the claims on the asset declaration forms on how the two houses in Ikoyi were acquired. Consequently, the panel held that the Senate president needed to provide explanations on the discrepancies established by the prosecution that the properties he claimed were bought from the sale of rice and sugar in his asset declaration form were bought from loans acquired from a commercial bank. The panel stated that it dismissed the 15 other charges against Saraki having concluded that the evidence adduced at the tribunal was based on hearsay that had no probate value. The court further held that the information supplied in the report used to prepare the charges did not link Saraki with the charges as required by law. According to the court, the 48 documents tendered by the federal government and admitted by the tribunal were not from the appropriate sources that were supposed to tender them before they could be admitted in line with provisions of the law. But having established a prima facie case against Saraki in respect of counts 4, 5 and 6, which bordered on the properties at McDonald

Street, the court said that the tribunal should conduct a trial so as to arrive at a just conclusion on the three charges instead of dismissing them at a no case submission stage. â&#x20AC;&#x153;It is hereby ordered that counts 4, 5 and 6 be remitted to the Code of Conduct Tribunal,â&#x20AC;? the court held. Justice Akomolafe-Wilson said the prosecution erroneously came to the conclusion that the burden of proof on the 15 charges rested on the respondent, whereas it is an established fact that the party that alleges must be the one to prove beyond reasonable doubt. The court further faulted the federal government on the claim that Saraki collected salaries and emoluments from Kwara State government after he had left office as the executive governor of the state, adding that it was a big surprise that no single witness was invited from the state to prove the allegation. Similarly, the court faulted the prosecution for failing to call the relevant witnesses to support its allegation that Saraki operated a foreign account while he was in office as governor of Kwara State. The court said: â&#x20AC;&#x153;In conclusion, we find no merit in 15 out of the 18-count charge brought against the defendant by the complainant and we hereby uphold the decision of the tribunal delivered in June this year on the finding. â&#x20AC;&#x153;On the remaining three, it is hereby ordered that counts 4, 5 and 6 be remitted to the tribunal for retrial to enable the defendant offer explanations

OIL PRICES HIT $65 ON NORTH SEA PIPELINE CLOSURE â&#x20AC;&#x153;Demand growth across the commodity complex is extremely robust. And inventories across the complex have been declining sharply,â&#x20AC;? said US bank Goldman Sachs, in a note to clients. â&#x20AC;&#x153;The market reaction shows that in a tight market, any supply issue will quickly be reflected in higher prices,â&#x20AC;? added ANZ bank. The jump in Brent prices widened its premium to WTI prices, making U.S. oil exports more attractive. OPEC and its allies started withholding supplies last January and currently plan to continue doing so throughout 2018. However, the Minister

of State for Petroleum Resources, Dr. Ibe Kachikwu, has expressed fears that a continuing rise in prices of oil could incentivise U.S. shale oil producers to ramp up production and perhaps derail the production cuts agreements reached by OPEC and its non-OPEC allies. Kachikwu had told THISDAY at the recent meeting of the group in Vienna last month, where the decision was taken to extend the production cuts till the end of 2018, that he feared shale oil producers could ramp up production even though the price rise was good for Nigeria to fund its 2018 budget.

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

House C’ttee: Banks Still Holding N50bn Outside TSA Banks cite presidential approval as lawmakers demand proof, CBN unaware

James Emejo in Abuja The Chairman of the House of Representatives Ad-hoc Committee on Treasury Single Account (TSA), Hon. Abubakar Nuhu, yesterday said the committee had discovered that banks are still holding on to public funds amounting to about N50 billion outside the TSA in violation of a circular from the Accountant General of the Federation (AGF) which directed that all public funds domiciled in banks be transferred to respective accounts with the Central Bank of Nigeria (CBN). But in defence, the banks reportedly cited an approval from President Muhammadu Buhari which allowed them to still hold on to the accounts. Speaking at the continuation of the public hearing ordered by a resolution of the lower House on the implementation of the TSA, Nuhu however, demanded evidence with regards to the approval by the president that affected accounts be retained by the financial institutions. This is as the CBN Director, Banking & Payments, Mr. Dipo Fatokun, who appeared before the committee, said though some accounts including the that of the Nigerian National Petroleum Corporation (NNPC)/Joint Venture Accounts had approvals to be operated outside TSA, he was not aware of any such approval from the president allowing for the accounts to be operated separate from the TSA. Asked if the CBN was aware that such accounts were still being run outside the TSA, the CBN Director

said: “The only approval that I am aware of is that of NNPC/JV; I saw that approval from the presidency... apart from that approval, there’s no other presidential approval that I’m aware of.” He added that some of the reasons adduced by banks for retaining some accounts include excuses that some accounts are under court processes while others including those of the judiciary and the National Assembly are expressly exempted from the TSA for some reasons. Also, yesterday, the ad hoc committee directed the apex bank to conclude and submit its reconciliation of TSA accounts for the last two years by the end of December. It further directed that the apex bank allow the Auditor General for the Federation (AuGF), who had bitterly complained about limitations in accessing the TSA, unfettered access to the central accounts with the CBN. But on the contrary, Fatokun suggested that the AuGF should rather access the TSA through the office of the Accountant General of the Federation. Also, as a fallout of yesterday’s meeting which could not really progress, the committee summoned chief executives of banks and other government institutions to appear before it for the last time next Wednesday or risk the consequences. The chairman noted that their continued absence appeared to constitute a stumbling block to ongoing investigations on alleged infractions in the implementation

Deposition Threat, an Affront to Ibadan People, Says Olubadan The Olubadan of Ibadan land, Oba Saliu Adetunji, has described the threat of 21 new Ibadan kings to recommend him for removal as an affront to the people of Ibadan. The Ibadan Council of Obas on Monday issued a 21-day deposition notice to the Olubadan of Ibadanland, accusing him of acts unbecoming of his office as the paramount ruler of the ancient town. But in a statement issued yesterday inIbadanbythemonarch’sspokesman, Mr. Adeola Oloko, quoted him as saying that the Oba-in-Council was unknown to the Oyo State Chieftaincy Laws. Adetunji expressed surprise that a group of educated individuals such as the high chiefs could resort to illegality by commenting on a matter before the court. The Olubadan according to the News Agency of Nigeria (NAN), argued that the Oba-in-Council, which comprises high chiefs and the Olubadan, remains an advisory council with no force of law, customs and traditions backing it. He said that the baales whom the high chiefs have added to themselves to become 21 were also not members of the Olubadanin-Council. The traditional ruler said as the prescribed and appointing authority, he could promote or peg the promotion of an high chief

as long as he wishes. He, however, added that he did not contemplate any such decision as he does not see himself as an absolute monarch. Adetunji also said there was no time that the embattled high chiefs were barred from attending palace activities, adding that they were the ones who rejected palace invitation. The monarch expressed delight that in spite of their absence from official palace activities, the Olubadan had been exercising his duties without let or hindrance. “By custom and tradition, no Olubadan has been recommended for removal from office by any high chief or group of high chiefs at any time and my own reign will not be an exception. “At least, we have received applications from families of about four of the embattled high chiefs asking for their immediate replacement “But, like a prodigal son, we hope that they would sooner than later renounce the unrecognised crowns and return to the warm embrace of their father as the palace door is perpetually open. “The high chiefs are hereby advised to emulate high chiefs in other places who are not wearing crowns but still earn respect of their people for peace and progress to reign supreme in the land,’’ Adetunji said.

of the TSA. He said: “I wish to state with dismay that none of the chief executives of invited organisations seemed to be present. “If people don’t respect our invitation, we will not hesitate to use other means and the constitutional powers that we have to compel people to appear before this committee.” He said: “We are not against any operation of any account outside TSA provided the relevant approval is being given or the approval is there in place. “So, for the banks that are here, they should take note of this. Banks chief executive will have to appear

before us with evidence as regards the approval from Mr. President to operate accounts outside the TSA.” Continuing, Nuhu said: “As you know, the committee has had series of interactions with stakeholders which led to so many discoveries and the level of non compliance to the TSA policy. “It’s important to note that the committee is not in anyway out to witch-hunt any person or organisation, rather, it intends to ensure things are done in line with approved policies. “The committee in its quest to complete it’s assignment and produce it’s report to the House and Nigerians has been constrained

by various stakeholders submitting information demanded. “In spite of concessions given to stakeholders before, obviously, good faith is not being shown to the committee. “It’s an appalling situation when an organisation continues to suppress government revenue by not disclosing the accounts here.” According to him, “The committee then has to waste time and resort to other sources, finding out about these accounts through other means. “Going forward, organisations will be under oath and will swear to the accuracy of all documents submitted to the committee.

“Any further transgression will be taken as deliberate revenue suppression.” The chairman further reiterated the determination of the ad hoc committee to ensure that SystemsSpecs, the company which provides the solutions for the operation of the TSA is paid huge amounts owed it by government. He said despite testimonies by relevant stakeholders about the remarkable delivery of the company, it is still being owed. He said: “But surprisingly, reports submitted to the committee has shown that this firm is being owed huge sums of money.”

GRAND OPENING OF PETROLEX OIL CITY

L-R: Former President, Chief Olusegun Obasanjo; Chairman, Premier Lotto, Sir Kesington Adebutu; Governor of Benue State, Samuel Ortom; Senator Dino Melaye; Minister of State for Petroleum Resources, Dr. Emmanuel lbe Kachikwu; and Vice President Yemi Osinbajo at the official inauguration of Petrolex’s Ultra-Modern Mega Oil City at Ibefun, Ogun State....yesterday

Buhari in Paris, Advocates Restructuring of Nigerian Economy Through Technology Omololu Ogunmade inAbuja President Muhammadu Buhari yesterday in Paris, France, said some fundamental restructuring of Nigerian economy was required in the drive to address climate change in the country. In getting this done, the president said: “Technology will be a powerful tool to simultaneously address climate change and advance development.” He made the remarks while speaking at the ongoing One Planet Summit in the French capital. With the theme, ‘Climate Change Financing,’ the summit was reportedly attended by over 60 heads of state and government and representatives of non-governmental and private organisations. The president, according to a statement by his Special Adviser, Media and Publicity, Mr. Femi Adesina, called for financial and technical support of developed countries, observing that “we cannot implement our Nationally Determined Contribution without adequate financial, technical and capacity building support from the developed countries.” Buhari said he looked up to the developed countries to jointly take

a leading role in mobilising support for this action plan in addressing the challenges of climate change within the framework of the General Assembly of the United Nations. He said: “In Nigeria, we are looking at insurance-based proposals to deal with loss, damage and adaptation to the poor, vulnerable and hard-to-reach groups. “Risk mitigation through insurance must benefit those groups who currently have negligible access to any form of indemnity coverage. vulnerable groups will also benefit from new technologies and ways to make insurance schemes affordable, including through long term premium support. “The adverse impacts of climate change such as temperature rise; erratic rainfall, sand storms, desertification, low agricultural yields, drying up of water bodies like Lake Chad, gully erosions and constant flooding are a daily reality in Nigeria.” Admitting that highly vulnerable communities lack the capacity to cope, he said Nigeria would require external assistance in the following areas: “A long term solution for a source of clean power, which

can be achieved through private investments to create economic competitiveness for industrialisation, job creation and agricultural programmes throughout the country; and the inclusion of Nigeria in climate regional programmes, especially strong financial support to our planned project for the replenishment of the Lake Chad. “This long term solution will ensure sustained livelihood for rural and urban communities, and permanently address the conditions conducive to the spread of violent extremism and terrorism, and stem illegal migration especially of our youths abroad.” In acknowledging that the external support must be sustained on a long term basis, President Buhari emphasised that “the changes that Nigeria and other developing countries need to make cannot be undertaken overnight.” He appealed to the international community to support Nigeria’s commitment towards reducing the negative effects of climate change. Furthermore, he said “since the adoption of the Paris Agreement, we have been strengthening our national efforts towards the implementation of the Agreement and the Marrakech Call for Action,”

adding that even though Nigeria had already ratified the Paris Agreement in May 2017, the country’s “Nationally Determined Contribution to reduce our emission by 20 per cent by 2020 and 40 per cent by 2030,” cannot be attained alone. He further said: “Having just come out of recession, we are under no illusion of the challenges that we face in Nigeria. “Nigeria recognises that ensuring sustainable funding is a major constraint in efforts to implement the Nationally Determined Contribution. To respond effectively to climate change mitigation and adaptation challenges, critical mass of financial resources beyond what we can provide from our national resources will be required.” On steps Nigeria has taken to meet its national goal in this respect, Buhari said the country has “embraced the issuance of the green bond as an innovative and alternative source of projects funding that would help reduce emissions and provide robust climate infrastructure, such as renewable energy, low carbon transport, water infrastructure and sustainable agriculture in line with the Paris Agreement.”

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Kachikwu: 2019 Target to End Petrol Imports Non-negotiable FG to announce new interest rate for manufacturers, Says Osinbajo Ejiofor Alike The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday disclosed that the federal government’s target to end importation of petroleum products in 2019 was is non-negotiable, stressing that operators in the oil and gas industry, who cannot deliver on this target had failed the country. This is coming as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said the Department of Petroleum Resources (DPR) has been mandated to dispense any hoarded petrol in any depot or filling station across the country free to motorists. Vice President Yemi Osinbajo has said the federal government would soon announce a new interest rate specifically to encourage access to loan to the manufacturing sector

to boost economic activities. Speaking during the inauguration of sub-Saharan Africa’s largest tank farm built by Petrolex Oil and Gas Limited in Ibefun, Ogun State, Kachikwu stated that all the refining capacities being developed in this country should be geared towards achieving this target. He urged the Chairman of Petrolex Oil and Gas Limited, Mr. Segun Adebutu to expedite actions on the implementation of the 250,000 barrels per day refinery being planned by the company. “The future here is very pregnant because of the successful birth we are experiencing here today. It is pregnant because tomorrow beckons very sharply. It beckons in terms of the great development of pipeline infrastructure; great refining that I hope and I am going to encourage and persuade and cajole him to bring forward and make possible before 2019 and I am sure the vice president

Bharti Airtel Denies Report of Its Planned Exit from African Operations Emma Okonji with agency report Bharti Airtel has denied recent report that it is exiting its operations from three African markets that were said to be unprofitable. Although the telecoms company confirmed it was open to consolidation with other players in some countries, it however said it has no plans to exit its operations from some African countries for alleged poor performances of those operations. In a statement, according to Business Daily Africa, the telecoms company denied it planned to exit Kenya, Rwanda and Tanzania, as had been reported in The Economic Times last week. The statement further said it would instead pursue other options in a bid to turn in profit in the countries. African industry stakeholders, on getting wind of the purported exit from Kenya, Rwanda and Tanzania, had raised some concerns about the financial muscle of Bharti Airtel, since it is currently bidding to acquire 9mobile, Nigeria’s fourth largest network operator, along side other bidders like Globacom Nigeria Limited; Dangote Group’s telecoms business unit, Alheri Engineering Limited, which has the backing of U.S.-based Blackstone Group with an investment portfolio of $378 billion; Smile Telecoms Holdings, a South African telecommunications group with subsidiaries in Nigeria, Tanzania and Uganda; and Helios Towers, the former owner and operator of the largest telecoms tower network in Nigeria and other countries, before it sold its Nigerian infrastructure to IHS. Other bidders include Centricus Capital and Africell, a subsidiary of the Lebanon-based Lintel Group of Companies, with cellular communications operations in the Democratic Republic of Congo (DRC), The Gambia, Sierra Leone and Uganda; Dubai-based Abraaj Capital, a private equity firm with an investment portfolio of $11 billion; Teleology Holdings Limited, a special purpose vehicle led by a former chief executive of MTN Nigeria, Mr. Adian Wood, and Ericsson; Africa Capital Alliance

(ACA), a leading pan-African investment firm based in Lagos; and The Carlyle Group, a United States-based multinational private equity, alternative asset management and financial services corporation. In the statement, denying its exit from the African operation, Bharti Airtel said its options was “strategic acquisition”, and reiterated its aim to be one of the two largest operators in each of its African markets. The India-headquartered company operates in major markets across Africa, providing both communications and mobile money services. In its latest earnings statement for the three months, which ended in September, the company reported improved customer numbers, Airtel Money service uptake and margins across its Africa business as a whole. The Economic Times had last week, reported tat the telecoms company intended to further boost margins on the continent by disposing of tower assets in five markets and exiting reportedly unprofitable markets like Kenya, Rwanda and Tanzania. While Rwanda is one of Airtel’s smallest units by connections on the continent (GSMA Intelligence placed the figure at 1.6 million at end-Q3), the operator had 11 million in Tanzania and 7.4 million in Kenya at the same point. Although second in Kenya’s market, the company is a long way behind market leader Safaricom in terms of connections with an 18 per cent share. It is also struggling to make inroads into the market leader’s dominant position in the burgeoning mobile money market in the country. Latest statistics from the Communications Authority of Kenya for the three months to end-June showed Airtel Money had 1.5 million users compared to 22.6 million on Safaricom’s m-Pesa. In Tanzania, Airtel is said to be battling for second position in the market with Tigo and is only 2.5 million connections behind market leader Vodacom. In Rwanda, the company is 2 million connections short of those reported by both MTN and Tigo.

is shaking his head to that one,” Kachikwu said. “It is important that all the refining capacities, whether it is the Dangotes; whether it is the four refineries that the Group managing director of NNPC is reactivating; whether it is the Niger-Katsina initiative and of course, Petrolex – we must encourage all of them to help us work assiduously in delivering refining capability par excellence, so that by 2019, we will be able to say that for the first time in this country, we are able to produce all the products that we need,” the minister added. In his speech, the Group Manging Director of NNPC, Dr. Maikanti Baru, said the 300 million litre-capacity tank farm would help in the federal government’s efforts to maintain strategic reserves of petroleum products to ensure uninterrupted supply. Baru explained that the recent petrol scarcity was caused by independent marketers and depot owners, who hoarded the product with the anticipation that the government would increase

the pump price. He gave an assurance that the government has no plan to increase the price of petrol, stressing that the DPR of has been mandated to dispense any hoarded product in any depot or filling station free to motorists. Also speaking, former President Olusegun Obasanjo charged the federal government and the NNPC to facilitate Petrolex’s efforts to construct the pipelines for the discharge of petroleum products into the Petrolex depot within 18 months as promised by the corporation. According to him, the pipelines would eliminate extra handling costs associated with the use of barges to discharge the products from the imported cargoes to the depot. Obasanjo canvassed for a robust public, private sector collaboration, adding that no private business can thrive without support from the public sector. In his remarks, the Chairman of Petrolex, Mr. Segun Adebutu, said the bitter experience he had while

growing up in Apapa motivated him to embark on the project, adding that the tank farm would decongest Apapa by 70 per cent by removing about 2,000 trucks from Apapa roads Business mogul, Sir Kessington Adebukunola Adebutu, said he was proud for his son’s vision in building the largest tank farm in Africa. Speaking shortly before he inaugurated the tank farm, Osinbajo said the federal government would soon announce a new interest rate specifically to encourage access to loan to the manufacturing sector with a view to boost economic activities. He said the federal government was already working out the modalities having realised that the manufacturing sector is key resetting the economy. Osinbajo further revealed that he has been directed by President Muhammadu Buhari to develop a framework that will provide access to fund to manufacturer’s at affordable rate such that the sector will be motivated to boost capacity

to trigger economic activities. He said government would continue to create enabling environment for industrial sector to thrive. Osinbajo lauded Petrolex for taking such bold initiative to develop an integrated energy mega city capable of transforming the oil and gas landscape of the country. He said by its size and scope the investment will help the country meet its petroleum products need in 2018 and reduce by 20 per cent domestic petrol need by first quarter of 2019. Osinbajo said the commissioning was a clear testament of the company’s vision and shows also that Nigeria is ready for business. He said the facility would not only ease petroleum products supply and distribution but will create jobs and trigger economic activities across the state. He assured that government would continue to incentivise private investors to encourage more investments across all sectors of the economy.

NORTHERN SENATORS’ RETREAT

L-R: Governor of Katsina State, Aminu Bello Masari; Sultan of Sokoto, Muhammad Sa’ad Abubakar; Senate President, Dr. Abubakar Bukola Saraki, and other senators during the Northern Senators’ Forum (NSF) retreat in Katsina ....yesterday.

Trafficking of Opioid Pills Used by Boko Haram Suicide Bombers Soars in Sahel Michael Olugbode in Maiduguri with agency report The United Nations has warned of a rise in trafficking of the synthetic opioid tramadol across West Africa, as one official revealed it is being found in the pockets of suicide bombers. The warning came as suicide attack on an internally displaced persons (IDPs) camp in Pulka village, in Gwoza Local Government Area of Borno State has left three persons dead and seven others injured, an aid worker, Bukar Amin told THISDAY. Seizures of the drug have skyrocketed since 2013, from 300kg (660lb) to more than three tonnes a year, the UN’s Office on Drugs and Crime (UNODC) said. In September, three million pills in UN-logoed boxes were found

in Niger. The opioid is known to be popular with Islamist militants Boko Haram. The pills - which can be legally prescribed as painkillers - are thought to be used to calm the would-be attackers, with The Guardian previously reporting that the terrorist group stuff it into dates which they then feed to children before sending them to their deaths. Some 600,000 pills bound for the group were seized on the NigeriaCameroon border in August. Pierre Lapaque, the UNODC’s West and Central Africa representative, warned the situation could not be allowed to “get any further out of control”, as it continues to undermine global security. “Tramadol is regularly found

in the pockets of suspects arrested for terrorism in the Sahel, or who have committed suicidal attack,” Lapaque said. “This raises the question of who provides the tablets to fighters from Boko Haram and al-Qaeda, including young boys and girls, preparing to commit suicide bombings.” The UNODC said the abuse of the drug - usually smuggled from Asia through the Gulf by criminal gangs - is escalating into a major health crisis in the Sahel, particularly in northern Mali and Niger, with sub-Saharan Africa’s young population potentially providing traffickers with an even larger market. One woman in northern Mali told the agency she regularly saw children little older than 10 walking around “after taking or being given

pills in their tea in order to help reduce their feeling of hunger.” People taking the drug illegally are thought use a dose up to five times higher than usual medical prescriptions, the UNODC added. Three Killed, Seven Injured in Suicide Attack on IDPs Camp Meanwhile, suicide attack on an IDP camp in Pulka village, in Gwoza Local Government Area of Borno State has left three persons dead and seven others injured. According to an aid worker, Bukar Amin, he said: “A suicide bomber came to the entrance of Camp 4 around 11a.m. on Monday morning and detonated the explosives strapped to her body and at the last count, we have three deaths and seven injured persons.” Another official, Bunu Bukar

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Lagos to Transform Presidential Lodge to Heritage Centre for Leadership FG completes handing over of edifice Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, yesterday unveiled the grand plan of his administration to transform the Presidential Lodge, Marina to a

national monument to be christened National Heritage Centre for Leadership. He spoke about the state’s plan for the Presidential Lodge after he and Minister of Works, Power & Housing, Mr. Babatunde Fashola,

FG to Demolish Jibowu, Costain Bridges for Rail Lines Sunday Okobi and Kasim Sumaina The Minister of Transportation, Mr. Rotimi Amaechi, yesterday disclosed that for the delivery of a good rail project, the Jibowu and Costain bridges in Lagos State would be demolished. Amaechi stated this shortly after his inspection tour of the ongoing Lagos-Ibadan rail project. According to the minister, “Yesterday I was on tour with the governor of Lagos and we agreed that the two bridges should come down. “The Jibowu bridge and that of the Costain, we have agreed the two of them have to go. We have agreed with the governor of Lagos State on the arrangements we have to make before the bridges have to go. They cannot just go like that because of the management of traffic. “So, what we agreed on is that we are constructing new bridges at Costain so that by the time we finish them, we will demolish the existing ones.” Speaking further, he said: “The one at Jibowu, we will build a flyover across it before demolishing it,” the minister explained. Reacting to the extent of work done on the railway project, the former Rivers State governor said: “We are impressed with the progress of work, but we expect more from CCECC. That is why we want them to increase the speed at which they are going. “Yes, I am a lay man, but I

have engineers supervising the construction and I know that by now they are supposed to have laid the tracks. I expected that they can lay the tracks within a period of one month,” he noted. Amaechi equally spoke on the challenges of the gas pipeline crossing the railway line, explaining that, “If the issue of the transmission lines with the NNPC gas pipeline is not addressed, then there will be no railway line. “I cannot tell you how soon we can do that because I am not with the NNPC. But what we know is that we have a target date. However, I want to say that there is no way you can do construction without challenges in different forms and kinds. “The difference between this construction and the rest is that journalists are physically present with the minister while the work is going on. In other constructions, what the journalists may see is the finished product and may not know what they went through. “The challenges facing this construction is not even here in Ogun but in Lagos. We are dealing with water, drainage, gas, power and the military. But here we are dealing with just gas and maybe a few power transmission lines and we can manage that. Speaking on the completion of the rail project, he said: “Don’t forget that the contract is for three years, but we are chasing the Chinese to see that they finish it in 2018. We have made it clear that we need it before January 2019.”

TRAFFICKING OF OPIOID PILLS USED BY BOKO HARAM SUICIDE BOMBERS SOARS IN SAHEL who spoke with THISDAY from Maiduguri on phone, said: “Yes, there was a suicide attack on a camp in Pulka on Monday, three persons died and seven other persons were injured.” Bukar, who is the Secretary of the Hunters Association in Borno State, added: “Our fear is that, the insurgents would want to use the festive period to create problems in order to seek relevance therefore, people should be extra careful and support security personnel with information at all times.” A military officer, who asked not to be named as he was not authorised to speak to the media, said the clusters of camps in Pulka and Gwoza have created a new security challenge. He said: “We have clusters of camps spread across, all within Pulka town and this is due largely to the growing population of IDPs especially, those recently brought in from Cameroon. “This has created a challenge both in terms of security surveillance and service delivery especially, as the town has no telecommunications network to ensure ease of monitoring and

control.” Attempts to get official confirmation from both National Emergency Management Agency (NEMA) and Borno State Emergency Management Agency (BOSEMA) were unsuccessful Phone calls to both Abdulkadir Ibrahim (Information Officer, NEMA) and Engr. Ahmed Satomi (Chairman, BOSEMA) were not picked at the time of filing this report. Pulka, is 16 kilometres from Gwoza town, 135 kilometres away from Maiduguri, Borno State capital, North-east The attack came barely a day after Sunday’s attack where six soldiers lost their lives with a dozen others injured and heavy fighting equipment reportedly carted away when a military convoy was ambushed by suspected Boko Haram insurgents in Sandiya village, around Konduga town on the Damboa /Konduga border, which is 76 kilometres away from Pulka town in Borno State. Pulka was liberated from the hands of Boko Haram insurgents by the military in early 2016 after been held for close to two years.

signed the final documents to perfect the handover of the edifice in Abuja. The federal and Lagos State governments had on August 17, 2017 signed a Memorandum of Understanding (MoU) formally transferring ownership of the edifice to the state government. The MoU was signed by the Secretary to the State Government, Mr. Tunji Bello, and the Permanent Secretary, State House, Abuja, Mr. Jalal Arabi, ending 20 years of negotiation on the transfer of the national edifice. The MoU paved the way for the final handover of the presidential lodge, which Ambode described as a testament of the commitment of President Muhammadu Buhari to bring positive change to Lagos. After signing the final documents, Ambode commended the president, Vice President Yemi Osinbajo, Fashola and Permanent Secretary in the Office of Chief of Staff to the President and other stakeholders who worked to ensure the final transfer to Lagos. He noted that the state government was delighted “to

be here on this historic day; on a day that actually finalises the intention of Mr. President to bring positive change to Lagos. “We want to sincerely appreciate President Buhari who has graciously approved that the Presidential Lodge be released to Lagos State and for the use of Lagos State. The minister just said we have been trying to get this asset for the last twenty years. “We are pleased that on a day like this. It is my predecessor and present Minister of Works who is now doing the final handing over of which he had also been part of that process to get this asset back to Lagos. But in God’s own doing, the minister is in the position to do the final documentation and we are very grateful for that.” Specifically, the governor noted that the final transfer was a sign of greater collaboration between Federal Government and Lagos State, thereby expressing optimism that it would be the beginning of process to get such assets back to Lagos State. He, also, said the state government would put the edifice

to good use and transform it into a national monument to boost tourism and grow the economy of Lagos and Nigeria. “This is a sign of greater things and greater collaboration between the Federal Government and Lagos State. We believe strongly that this singular gesture is part of what will improve the economy of Lagos because our intention is to turn that particular asset into a national monument. “We can christen it National Heritage Centre for Leadership. We will use it also as a tourist centre to bring Nigerians and foreigners to come to Nigeria and as well use it as a means of improving on the economy of Lagos State and Nigeria. “I want to show my sincere appreciation to the minister. I hope that this particular event will bring more good stories as we continue to see how much we can strive to get some of these assets back to Lagos State,” the governor explained. Also speaking at the event, Fashola congratulated the people of Lagos State for N1.04 trillion budget proposal, which Ambode presented to the State House of

Assembly on Monday. He noted that the budget proposal would improve quality service delivery to the people of the state. He said the signing of the document which formally vest ownership of the Presidential Lodge, Marina in the state government was in fulfillment of Buhari’s promise, saying it was gratifying that the long journey spanning about two decades had finally come to an end. “This is a long journey that has come to an end; a journey that has taken almost two decades when the Lagos State Government asked that the property be vested in Lagos but for reasons that remained difficult to understand it did not happen but the President of change who is a promise keeper has made it happen.” Other officials of the state government at the signing of the document included the Secretary to the State Government, Mr. Tunji Bello; the Commissioner for Information & Strategy, Mr. Steve Ayorinde and his counterpart in the Ministry of Waterfront Infrastructure Development, Mr. Adebowale Akinsanya.

COURTESY VISIT

L-R: Head of Government Affairs, Notore Chemical Industries, Plc, Mr. Yakubu Abdurrahman; MD/CEO, Notore Power, Mr. Femi Solebo; Managing Director, Oil and Gas Free Zones Authority (OGFZA), Mr. Umana Okon Umana; Group Managing Director/CEO , Notore Chemical Industries Plc, Mr. Onajite Okoloko, when the management of Notore visited OGFZA at Onne, Rivers State ... yesterday

FG Urges French Investors to Tap Opportunities under ERGP Ndubuisi Francis in Abuja The federal government has called on French investors to key into the Economic Recovery and Growth Plan (ERGP) as well as take advantage of the opportunities that the country currently presents to invest in Nigeria. The Budget and National Planning Minister, Senator Udoma Udo Udoma, who made the call when a delegation of French businessmen paid him a visit in Abuja, stated that Nigeria’s priority was to create a better environment for businesses to thrive, as the country is focused on expanding the productive base of the economy. While receiving the delegation which was accompanied by the

French Ambassador to Nigeria, Denys Gauer, the minister said the country was more than ever open for business. He welcomed the increasing interest in Nigeria by both domestic and foreign investors and assured that the government was determined to continue with the various initiatives that are already improving the business climate as set out in the ERGP. A statement released by Udoma’s Special Adviser (Media), Mr. Akpandem James, said the minister indicated that as a way to monitor the progress of government’s reforms a target of moving 20 places up was set in 2017 on the World Bank Ease-ofDoing-Business rankings. However, he noted that in the World Bank’s latest rankings, released in October 2017, the

country moved up 24 places, describing it as a remarkable achievement. He added that Nigeria has also been recognised as one of the ten top reforming countries in the world. The more than 30-man delegation, comprising investors in the oil and gas, energy, manufacturing, banking and logistics sectors, among others, is in Nigeria to explore possible areas of investment in the country. The minister said there exist in Nigeria ample opportunities for investment particularly in agriculture, manufacturing, oil and gas, power, rail, mining and shipping among others. He explained that the fall in crude oil price was a wake-up call for the diversification of the country’s economy which has

historically relied, almost entirely, on crude oil for its foreign exchange earnings and government revenues. The government’s response to this, he said, was the development of an ambitious four- year plan to dramatically turn around the economic direction of the country, adding that the ERGP is aimed at increasing the productivity of the Nigerian economy by encouraging private sector investment. Earlier in his remarks, the leader of the French delegation, Movement des Enterprises de France (MEDEF), Philippe Lebonne, told the minister that MEDEF is the largest French business confederation and the largest employer of labour in France, with an estimated 750,000 firms, 90 per cent of which, he said, is made up of small and medium scale enterprises.

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Akiolu: Benin Monarch Came to Lagos Territories, Fought and Conquered Denies claim Benin owns Lagos territory Gboyega Akinsanmi Oba of Lagos, Oba Rilwan Aremu Akiolu, stirred up another hornet’s nest on Monday on the Lagos-Benin connection, insisting that Benin Monarch came to the territory of Lagos, fought and conquered. Contrary to widely circulated reports credited to him that the Benin Kingdom owned Lagos, the monarch clarified that he had never said at any time or any place that Lagos and its territories belonged to Benin. Akiolu also warned some unnamed political actors at the federal level working with external forces to capture Lagos State, noting that unlike Ogun State, no person could capture the state as a slave

again. He spoke at a public lecture, which former United States Ambassador to Nigeria, Dr. Walter Carrington delivered on Monday at the Civic Centre, Victoria Island. The lecture was titled: Nigeria and Africa in a Changing World. The lecture, which incisively x-rayed how Nigeria failed to unleash her socio-economic potentials in the world of 21st century, was held alongside the public presentation of a memoir: Defend the defenseless the diplomat’s wife, Dr. Arese Carrington just published. The lecture, which was organised by the Lagos State Office of Overseas Affairs & Investment (Lagos Global), was attended by the

FG Pledges to Eradicate Bureaucracy Hindering Economic Expansion Omololu Ogunmade in Abuja Vice President Yemi Osinbajo Monday night in Abuja, pledged federal government’s commitment to eradicate bureaucracy hindering the spring of new businesses and economic expansion in Nigeria. The vice president made the remark during an award ceremony tagged: ‘Impact Award,’ organised by the Presidential Enabling Business Environment Council (PEBEC) at the Banquet Hall of the Presidential Villa. Osinbajo who said the recent ranking of Nigeria as one of the top 10 most improved world economies was an attestation to the power of unity and cooperation which he said earned Nigeria that mark. PEBEC’s Impact Award was organised to serve as the platform for the appreciation and recognition of individuals, institutions, ministries, departments and agencies (MDAs) perceived to have contributed to Nigeria moving up 24 places in World

Bank’s latest doing business report. “We are working hard on the attitudes of bureaucrats and persons who have been charged with the responsibility of making things easy,” Osinbajo said, adding: “the whole business of processing pre-investment approvals and all of that should be with the view to making things easy not with a view to becoming an obstacle of sort.” Osinbajo acknowledged improvement in the attitude of bureaucrats in recent times, assuring that the federal government would ensure there is further improvement in such behaviour with a view to accelerating progress in Nigeria’s business environment. He commended the drivers of Nigeria’s geometric rise in World Bank’s ease of doing business assessment, disclosing that “the next few weeks will involve a lot of doing,” as he tasked them to yet pick up their gauntlets to move Nigeria’s doing business status to the next level, pointing out that “there is absolutely nothing we cannot achieve as a people if we set our mind to it.”

Saraki: North Has Been Undeservedly Bashed over Restructuring Damilola Oyedele in Abuja The President of the Senate, Dr. Bukola Saraki yesterday said the North has unfairly been at the receiving end of vitriol and bashes amidst the call for restructuring in Nigeria. This he noted, are from those who suggest that the North is a parasite on the body of the nation, and question what the region brings to the table. Saraki, speaking in his address at the ongoing retreat of the Northern Senators Forum in Katsina, urged northern leaders to see the underserved vilification as a challenge to redouble efforts and put in place policies that would transform the region. Saraki said the North, led by visionary leadership, has leverage and ought to negotiate from a position of strenght. The Senate President proferred his personal opinion on restructuring to mean where

all work towards economic development in every part of the country, so all Nigerians can all take pride of place in the Nigerian project, and no region is seen as a weak link. “My own restructuring is when we oversee the budget process to ensure equitable spread of critical infrastructure in every corner of the country, so that no region is left out of the gains of economic recovery,” “My own restructuring is when we create jobs and enhance food production so our people do not go hungry,” he said. “My own restructuring is when we educate our children so that they can realise their full potential and partake in the promise of the future. My own restructuring is when we place a premium on delivering good governance, fight against corruption, valourise honesty and live to serve the people – without betraying the trust reposed in us,” Saraki added.

Endorses Ambode’s re-election, warns against rebellion

Secretary to the State Government, Mr. Tunji Bello, who represented the state governor, Mr. Akinwunmi Ambode and former Chairman of Punch Nigeria Limited, Chief Ajibola Ogunshola among others. Giving goodwill message at the lecture, Akiolu said there was no way any person “can wish away the influence of Benin Kingdom in Lagos. The Benin monarch came to Lagos territories, fought and conquered.” However, the monarch said he would reserve his comment on the Lagos-Benin connection till May 2018 when he would celebrate his 15th anniversary, noting that he would reply all of them who were making all sorts of comments about Lagos-Benin connection. Specifically, Akiolu said: “I reserve my comment till when I will celebrate my 15th anniversary from May 15 to May 25, 2018. All of them, who are making all sorts of comments about Lagos-Benin connection, will know the kind

of person Oba Akiolu is. “No person, who has the full blood of Iga-Iduganran in him, can fault the claim of Lagos-Benin connection. Aside, there was no time Oba Akiolu said Benin Kingdom owned Lagos. I never said it. But no person can wash the influence of Benin monarch on Lagos away. “The Benin monarch came, fought and conquered. The grace of Oba of Lagos, the descendants of Benin monarch is what is germinating in geometrical progression in Lagos up to date. They always refer to us as Olowo Eko… Very soon, I will come out in full shell. Then, all of them who are talking will keep quiet. The record is there in my possession.” He endorsed Ambode for second term, noting that the leadership of Nigeria “is no longer for any corrupt or greedy person. That era has gone forever. Good governance as well as good leadership is what we want in Nigeria. “This is what we have been

able to display to Lagosians and Nigerians at large withAmbode, the highly respected, very intelligent and very hard-working governor. He has his own way of doing things. “When former President Obasanjo said he wanted to capture Lagos, I made it personally clear to them that Lagos was not part of Ogun when you could capture Osoba and captured all of them. But as long as Iga-Iduganran is still there, Lagos, by God’s grace, cannot be a slave to any person. “That is why Bola Ahmed Tinubu remains the only man standing. And they are at it again. I mean and I have said it before, nobody can capture Lagos. Nobody can stop Ambode. He is going to complete another term. “When it is time to elect another governor, all praises be to Almighty God, I, Oba Rilwan Aremu Osuolale Akiolu, will not die. I will choose the next governor to move Lagos forward,” the monarch said. Also at the public lecture, the Special Adviser, Office of Overseas

Affairs & Investment, Prof. Ademola Abass said public lectures “do not only enrich the knowledge base of the citizenry at large on any given subject, they indeed enrich the state’s archival repository of information and knowledge all which play a crucial role in the enlightenment of the citizens and the development of the state. “This has made the Lagos State government accept to sponsor this public lecture by Ambassador Walter Carrington who served as the United States’ Ambassador to Nigeria from 1993 to 1997, to promote the ideals upheld by all who fought hard for the democracy we enjoy today”. “The period of Ambassador Carrington’s presence in Nigeria coincided with the country’s vigorous struggle for democracy. He is widely regarded as a friend of Nigeria and a progressive mind who joined hands with notable Nigerians in the struggle for democracy.”

PLANNING FOR XMAS

L-R: Corps Marshal, Federal Road Safety Corps (FRSC), Mr. Boboye Oyeyemi; Delta State Governor, Senator Ifeanyi Okowa; and his Anambra State counterpart, Chief Willie Obiano, during a courtesy visit on Governor Okowa in Government House Asaba....yesterday

Global Amnesty Watch Exonerates Nigerian Troops of Complicity in Abuse of IDPs in North-east Adedayo Akinwale in Abuja The Global Amnesty Watch (GAW) has exonerated Nigerian troops fighting Boko Haram in the North-east from various allegations of complicity in the abuse of Internally Displaced Persons (IDPs). It said the ugly incidents came to light in the form of rumours and idle talks, which prompted GAW to initiate further scrutiny of the claims being made. The Country Representative, Africa Affairs of the GAW, Ms. Helen Adesola, disclosed this at the public presentation of its report on sexual harassment and exploitations being carried out in various IDPs camp across the country. She noted that the rights group

would provide legal services to IDPs and families who were molested by any individual either in the military or amongst the civil population. Adesdola stated: “The allegations however found their way into the media before GAW could conclude its investigation. “Even after losing the cover of unanimity under which it had wanted to conclude the review of the various incidents in the IDPs camps, GAW went ahead with the exercise. “It must however be admitted that it became an uphill task given the resulting sensationalism in the mainstream and social media, which muddled the facts with a handful of fictitious accounts,” Adesola noted. She however stressed that such

cautionary step was necessary to ensure that traumatised victims do not wrongly accuse anyone and to ensure that perpetrators do not get alerted and have enough time to intimidate witnesses or victims. GAW therefore proposed that necessary changes should be made in the running of the camps in addition to improving on the security at the various locations. According to her, “the patriotic actors in the fight against terror and the troops have been most embarrassed by the allegations that they were engaged in raping the Nigerians they are meant to be protecting especially with the kind of damaging piece by New York Times. “This notwithstanding, authorities need to order a fresh investigation that will do away with the bias that had been created by the way the

allegations of rape were published with certain groups unilaterally indicting soldiers even before a proper probe has taken place,” she said Adesdola added that the mental, physical and emotional wellbeing of the survivors and indeed all IDPs in camps must be given higher priority to ensure that there is no repeat of what has been reported. The international organisation said that non-state actors should be advised to desist from making bogus claims that are capable of eroding the gains made by the Nigerian military,” she concluded. Adesola also proposed the Identification, apprehension and punishment of the real culprits as a first step towards realising this since our research has cleared the military and its personnel.

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Stakeholders Accuse CBN, NAICOM, Others of Violation of NHF Act Dogara assures on reforms to benefit self-employed James Emejo in Abuja The Managing Director/Chief Executive, Federal Mortgage Bank of Nigeria (FMBN), Mr. Ahmed Musa Dangiwa, yesterday accused the Central Bank of Nigeria (CBN) of violating the National Housing Fund (NHF) Act by failing to remit about N1.6 trillion to the fund as at 2016. Also fingered in the alleged breach of the Act is the National Insurance Commission (NAICOM). Specifically, he said the apex bank in 2016 alone ought to have credited the fund with the sum of, N1.553 trillion which he said is able to provide 300 housing units in each of the 774 local government areas in the country at an average of N6.5 million per housing unit. His mind-boggling revelation prompted stakeholders to advocate severe sanctions for non-compliance to the NHF Act by individuals and institutions as well as.

He spoke during his submission at a two-day public hearing by the House of Representatives Committee on Housing, chaired by Hon. Ahmad Babba Kaita (APC, Katsina) on a motion on the need to ensure full compliance with the National Housing Fund Act for effective housing delivery in Nigeria. The FMBN boss said the failure by the CBN and to a large extent, other stakeholders to make the remittances to appropriate authorities had continued to deprive Nigerians the opportunity of owning their houses. Quoting data from the CBN and NAICOM, Dangiwa said between 2011 and 2016, total loans and advances by commercial banks and quantum of non-life and life funds from insurance companies amounted to N66.99 trillion. He said: “At 10 percent investment of their loan advances and non-life and insurance with the

National Housing Fund, about N6.7 trillion should have been invested in the fund by banks and insurance companies over the period.” He said: “We therefore, support the motion to ensure full compliance by all stakeholders with the NHF Act for effective housing delivery in Nigeria.” The Real Estate Developers Association of Nigeria (REDAN) said it’s in full support of compliance with the NHF Act The Nigeria Law Reform Commission said those in violation of the Act should be brought to book in a court of law and severe punishment for corporate bodies against future violations introduced. Representative of the organised labour said both the CBN and NAICOM should be held accountable for the sad story in the housing sector. Earlier, Speaker of the House of Representatives, Hon. Yakubu Dogara, however, assured on the commitment of the House

to working with stakeholders towards the provision of safe and affordable housing. While calling for increased private sector participation in order to address the national housing deficit, the proposed amendments would make housing laws more encompassing and introduce the necessary changes, as existing schemes have not been very successful. Commenting on four bills related to the reform of National Housing Fund and the Federal Mortgage Bank of Nigeria, Dogara said citizens’ welfare should be of utmost importance to any government and shelter should therefore be considered a foremost priority. According to him, “The government of the Federal Republic of Nigeria has a duty and responsibility to carter for the welfare of its people. Housing or shelter is one of the most important and fundamental needs of man.

The very concept of human dignity requires that a man should have a roof over his head. This is why the Fundamental Objectives and Directive Principles of State Policy of the 1999 Constitution of Nigeria provides, inter alia, that the “state shall direct its policy towards ensuring that suitable and adequate shelter, suitable and adequate food, reasonable national minimum wage, old-age care and pensions, and unemployment and sickness benefits are provided for all citizens” He said: “The National Housing Funds (NHF) scheme was designed to assist public servants own homes while saving a percentage of their income. The private sector employees were also captured under the Act. Similarly, the government – through mortgage institutions – is expected to provide loans to real estate developers to build low cost houses for the people. Unfortunately, both programmes

have not yielded the desired results as Houses are still not within the reach of the generality of Nigerians. Indeed, the provisions of the National Housing Fund Act and Federal Mortgage Bank of Nigeria Act are observed more in breach by most stakeholders mandated to perform one responsibility or the other under the laws. The proposed amendments capture virtually everybody including self-employed persons. “Let me assure you of the determination of the House to collaborate with all stakeholders in ensuring supply of safe and affordable homes and provision of viable legislative frameworks that will lead to private sector participation and ownership in order to reduce these deficits. The Bills being considered today will have far reaching effects on many institutions and stakeholders and these stakeholders should pay attention to the issues and offer workable solutions.”

Senate: Scarcity of Funds Threatening Interventions in N/East Damilola Oyedele in Abuja The Senate Committee on Special Duties has warned that the interventions for persons affected by the activities of Boko Haram, are being threatened by paucity of funds, being experienced by the committee. The Chairman of the Committee, Senator Murtala Nyako (Adamawa APC) speaking yesterday during an oversight visit to the PCNI office in Abuja, said the N45 billion appropriated for the PCNI in the 2017 budget is too little for the body to effectively carry out its mandate. He lamented that the PCNI only received about seven percent of the N45 billion, even though more releases are being expected before the lifespan of the 2017 budget is terminated. “We have seen what PCNI is doing. We are happy with the framework of PCNI. They really need support to do better. We feel that with the right kind of support, particularly funding, they will achieve their

purpose. We have come to put them on their toes because they really have to be on their toes to do the needful and lift the area out of humanitarian crisis. My candid opinion is that what they are getting is too small for any meaningful impact to be made,” Nyako said. “In 2017, they got N45 billion for six states which gives approximately N7 billion per state. One or two local governments in Adamawa can swallow N7 billion. We appreciate the constraints on the side of the federal government. It is our job to put more pressure so that more money will be made available to rehabilitate the North-east and lift the area out devastation,” the lawmaker added. Speaking further, Nyako added that the task of rehabilitating the region from the devastation caused by Boko Haram, and the attendant humanitarian crises, requires all hands to be on deck. The Vice Chairman of the PCNI, Mr. Tijjani Musa Timsah, said inadequacy of funds has become a huge challenge to its activities, even though many IDPs have been resettled and rehabilitated by its efforts.

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L-R: Lead Judge of The Next Titan Nigeria/Chairman, Nigeria Economic Summit Group (NESG), Kyari Bukar; CEO, Primera Africa Securities, Mrs. Lillian Olubi; Season 4 winner of The Next Titan Nigeria, Iyeh Kennedy; CEO, CPMS, Chris Parkes; and Co- Founder of Sahara Group, Tonye Cole, at the grand finale of the Next Titan Nigeria Season 4 in Lagos....weekend

Ribadu: Banking System Prone to Abuse by Corrupt Elements Ndubuisi Francis in Abuja Aformer Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, has declared that investigations had revealed that virtually all cases of corruption occurred with the active involvement of banks and bankers. He therefore observed that the nation’s banking system is susceptible to abuse by corrupt individuals. Ribadu, who spoke in Abuja at a book launch titled, ‘Improving Antimoney Laundering Compliance: Self-Protecting Theory and Money Laundering Reporting Officers’ written by Dr. Abdullahin Usman Bello, said, “internally, we still have a lot of issues, as our banking system is prone to abuse by corrupt elements.”

According to him, “investigations reveal every now and then that almost no case of corruption occurred without the involvement of banks and bankers.” He said: “There are many avenues through which such abuses happen. Some individuals use the convenience of the areas that are subject to abuse as private banking offered by commercial banks for money laundering. “Some others also use the anonymity offered by electronic banking to conceal suspicious transactions. Yet, some others use cash-intensive customers, who are into legitimate businesses as fronts or conduits for money laundering,” he said. Ribadu noted that the first step to getting it right “would mean getting the banks and operators to have an introspective look at

some of these things, and resolve to put a stop to it both in public and corporate interest, as well as the individual’s interest.” Risk management, he proffered, is very essential, advocating that “banks should identify the risk of money laundering in relation to products, services and customers and assess such risks at every stage.” The former EFCC boss noted that “the risks should also be managed whether high, medium or low- risk profiling through reporting, due diligence and monitoring.” He argued that “there should also be thorough profiling of customers and manual and automated checks when onboarding new customers or reviewing existing customers, to checkmate abuse and potential

risks.” He stressed that “as leadership is the first step in getting it right especially on matters of reforms and integrity, the board and senior management of financial institutions have a huge responsibility in ensuring strict compliance to Anti-Money Laundering (AML) regimes.” “When it is the board or management staff that bend rules to approve suspicious deals or warehouse illicit funds, the rest of the staff are only being shown how to behave. The top has to therefore be firm for the rest to fall in line,” he said. The former anti-graft agency boss advised the board and management of banks on the “need to cooperate with law enforcement agencies and regulators, not only by the word of mouth but in letter and spirit.”

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NHRC Begins Public Hearing on Hate Speech, Electoral Violence The National Human Rights Commission (NHRC) yesterday in Jos, began public hearing on hate speeches and electoral violence, witnessed during and after the 2015 general elections in North-central states. NHRC’s Acting Executive Secretary, Mrs Oti Ovrawah, who

declared the event open, said the public hearing was necessitated by a myriad of complaints received by the commission against persons or parties. Ovrawah, according to the News Agency of Nigeria (NAN), said those people and parties were alleged to have been involved in promoting

Xmas: Okowa, Obiano Assure Nigerians of Free Movement As the yuletide season draws near, Governors Ifeanyi Okowa and Willie Obiano of Delta and Anambra States have assured commuters plying the Asaba Onitsha road of free flow of traffic. The governors who spoke after a closed door meeting with the Corps Marshal, Federal Road Safety Corps (FRSC), Mr. Olayemi Boboye yesterday in Asaba said that they met to look at ways to ensure free movement of traffic especially on and around the Niger Bridge during the yuletide period. Okowa on his part said that “we had useful discussion just like we did last year on ways to ensure free flow of traffic during

hate speech and electoral violence. According to her, the public hearing is also to deepen Nigeria’s democracy and promote issue based campaigns, as against speeches that would divide Nigerians and engender electoral violence. “As you are aware, reports of violent incidents and the spread of hate and dangerous messages were widely recorded in the events that preceded the 2015 general election. “Hate speeches and electoral violence have become more

frequent in the past because there was no political will to hold the perpetrators accountable. “So the essence of this public hearing is to seek for accountability, where there is evidence that any person has been involved in hate speeches and election related violence in relation to 2015 elections. “This is also to deepen our democracy and encourage election campaigns that would be based on issues rather than the use of

hate speeches capable of causing election violence,” she said. The acting Executive Secretary added that the exercise would ensure better future elections that would be devoid of rancour and hate speeches. She explained that the hearing would be based on complaints received and the preliminary investigations and analyses already carried out by the commission. Ovrawah noted that those, who would be indicted at the hearing

would be recommended to the Attorney-General and Minister of Justice for prosecution. “In addition to this, a register of persons involved in hate speeches and election violence will be opened to serve as a reference point in future election related matters,” she added. She enjoined all parties involved to ensure a hitch-free exercise. Similar exercise will be held in other geo-political zones across the country.

the yuletide, everything has been put in place to ensure that nobody is stuck on the road.” Obiano who also addressed journalists said that he was in Asaba with the Corps Marshal Boboye “to confer with Okowa on ways to ensure that there is easy movement of traffic particularly at the head bridge”, stating that he has just inspected the road with the Corps Marshal to see things for himself. Boboye assured Nigerians that the FRSC would put its best to ensure effective traffic management, disclosing that the corps has received some logistics support from the governors for the success of the programme.

No Secret Recruitment at NPA, Says GM The Nigerian Ports Authority (NPA) has dispelled rumours that it has engaged in the secret recruitment of some Nigerians as reported in some newspapers. A statement issued in Lagos and signed by Mr. Abdullahi Goje, General Manager, Corporate and Strategic Communications explained that the exercise currently going on at the agency was initiated before the end of 2016, contrary to speculations that the exercise contravened a recent instruction on the embargo on employment given by President Muhammadu Buhari. The statement explained that in line with federal government’s requirements for such appointments,

the organisation had placed advertisements for recruitment in the November 11, 2016 editions of Daily Sun, The Nation and Daily Trust newspapers in addition to the recruitment portal of the authority’s website It stated further: “Examination conducted across the six geo political zones of the country by reputable consultants. The Federal Character Commission (FCC) was fully involved in this recruitment exercise and interviews took place across the six geo-political locations.” The management restated its commitment to the rule of law and compliance to government rules, regulations and directives across board.

Cross River Secures Licence for 528MW Floating Power Plant The National Electricity Regulatory Commission (NERC) yesterday granted the Cross River State Government a power generation licence for the construction of a 528MW floating power plant in the state. The licence was handed over to a delegation from Cross River led by the state governor, Professor Ben Ayade, at a brief ceremony at the commission’s headquarters in Abuja. The Vice Chairman of the commission, Mr Sanusi Garba, commended the governor for providing the enabling environment for investors to invest in the state. “I would like to commend Ayade for providing the enabling environment for investors like MGIG to invest in power generation. Cross River is endowed with lots of natural resources which enables her to play a central role in the power sector” Also speaking during the licence issuing ceremony, Ayade commended NERC for its capacity

and professionalism while processing the license. “I thank the management of NERC for its professionalism while processing this license considering that the last document in the application was submitted last year” Governor Ayade also used the opportunity to advocate for proper monitoring of DISCOS to ensure better service delivery. He said adequate supply of power is central to the industrialisation policy of his administration and promised to assist NERC in carrying out its statutory functions. In his vote of thanks, a commissioner in the commission, Mr. Dafe Akpeneye, thanked Governor Ayade for his dynamism and charged state governments to assist NERC in the areas of safety and removal of buildings under high tension cables. According to Akpeneye, other areas his commission needs assistance include Customer enumeration, electricity theft and payment of bills.

VISIT TO BONNY ISLAND

L-R: Deputy Managing Director, Nigerian Liquefied Natural Gas (NLNG) Limited, Sadeeq Mai-Bornu; First Vice President, Nigerian Gas Association (NGA), Audrey Joe-Ezigbo; President, NGA, Dada Thomas; and Managing Director, NLNG, Tony Attah, during a courtesy visit by NGA to NLNG in Bonny Island ....recently.

Daniel Congratulates Secondus as PDP Chairman Former Governor of Ogun State, who also aspired to be chairman of the Peoples Democratic Party (PDP) at the just concluded convention of the party, Otunba Gbenga Daniel, has congratulated Chief Uche Secondus on his emergence as chairman of PDP. Daniel, who withdrew from the race few hours before the convention, described Secondus’ emergence as divine intervention and a welcome development. ‘’Your emergence as our National Chairman at this material time, when our party seeks unity and cohesion for proper positioning towards the 2019 general election in Nigeria is not just a welcome

development, but a divine intervention and a good omen,’’ he said. While rejoicing with the new chairman for emerging winner after months of rigorous campaigns by the various contenders for the coveted office, he admitted that members of the party have spoken in clear terms with their votes, adding that they have placed on the new chairman the responsibility of their franchise in trust that he will protect them and their interests within the party. ‘’Like I said in the letter announcing my withdrawal from the race on December 9, ours is a democratic party and fair contest is the hallmark of

democracy where the people can express their minds and preferences with their votes. We therefore have a responsibility to take the party back to the people and ensure that we do not disappoint them,’’ The former governor said the leadership of PDP is aware that the party needs to be strong for itself and for the nation so that it can restore its lost glory as the biggest party in Africa, and take it back to Aso Rock as the ruling party in the country. He said: “My tour round the country during my campaign for the chairmanship position of the party in the last three months exposed me to the diverse challenges in the party

and in the country as a whole. I discovered during the tour that the whole nation is waiting for us to come out of our shell, put our crisis behind us and work assiduously to win the next general elections and save the country from the maladministration of the ruling All Progressives Congress (APC) with its promise and fail attitude since they got to office at the federal level in 2015,” Daniel stated that he believed that Secondus has the capacity to bring all factions within the party together and give it a better focus and come up with better strategies that can make things work for the party as it used to be in the past.

NUPENG Decries Scarcity of Petrol in FCT, North Amidst scarcity of petroleum products, particularly petrol in the Federal Capital Territory (FCT) and some states across the country, a major player in the sector, the National Union of Petroleum and Natural Gas, (NUPENG) has called on the management of the Nigerian National Petroleum Corporation, (NNPC) not to relent in its efforts to ease the suffering of vehicle owners at retail outlets and commuters. The National Chairman of the Petroleum and Tanker Drivers’, (PTD) branch of NUPENG, Salmon Oladiti made the admonition yesterday in Abuja.

The federal government at the end of the Federal Executive Council (FEC) meeting last Wednesday in Abuja had expressed concern over the scarcity. Briefing newsmen at the end of the meeting, Information Minister, Lai Mohammed had disclosed that the government directed the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, to put an end to the fuel shortage last weekend. Kachikwu at a separate briefing said his Ministry had instructed the Petroleum Products Pricing and Regulatory Agency, (PPPRA) and the Department of Petroleum Resources, (DPR) to ensure monitoring of supply and distribution of the products.

The scarcity has since eased substantially in Lagos state and its environs, but long queues at retail outlets persist in the FCT and states in the Northern part of the country. But speaking with journalists in Abuja, Comrade Oladiti said his men were ready to assist the NNPC to ensure speedy movement of petroleum products from the depots to retail outlets to end the sufferings of Nigerians at the receiving end of the present shortfall in supply. He further noted that there has been an improvement in the supply chain from the depots. He said: “Now that petrol is gradually available, we are ready

to lift and ensure its availability. “We don’t want Nigerians to go back to the era of artificial scarcity. We are ready to make sacrifices to ensure that lifting at the depots by our members improve.’’ Oladiti said his members are willing to make sacrifices during the festive period to complement the NNPC management resolve of 24 hours loading and distribution at the depots till the situation normalises. The NUPENG boss however appealed to the federal government to implement to the letter its comprehensive project of revitalization of the refineries and depots across the country.”

WEDNESDAY DECEMBER 13, 2017 ˾ T H I S D AY

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NEMA Receives Fresh Batch of 245 Libyan Returnees Chiemelie Ezeobi The National Emergency Management Agency (NEMA) last night received a fresh batch of 245 Libyan returnees at the cargo wing of the Murtala Muhammed International Airport in Lagos. As at 9p.m, the first batch of the returnees touched down in

Lagos after they were flown in Afriqiyah Airbus 330-300 with registration number 5A-ONR and were received by NEMA with support from the International Organisation of Migration (IOM) and the European Union (EU). The breakdown of the figure after profiling, indicated that 66 adults, three children and

Dickson’s Ex-commissioner Shot Dead in Yenagoa Emmanuel Addeh in Yenagoa Suspected gunmen have shot dead Mr Ayekeme Masa, a former Bayelsa Commissioner for Investment, Trade and Industry in the state. The deceased, it was learnt, was an aide to Governor Seriake Dickson during his first tenure and had also been in private business after the expiration of that administration. Masa, who until his demise, was also the Rector of the Institute of Entrepreneurship Studies in the state was shot under circumstances yet to be unravelled by the security agencies operating in the state. The shooting and death of the former commissioner comes a few days after a reporter with African Independent Television (AIT) attached to the state Government House was also shot by suspected armed robbers while returning from the church. She is currently recovering in one of the hospitals in the state capital. Masa, a 64-year-old father of three, was reportedly killed in the early hours of Monday in his residence behind the popular Bolex lounge and night club

in Yenagoa. It was yet unclear the motive behind his killing, but it was gathered that the former Dickson’s aide walked into his assailants already having an argument inside the house with his wife when he came in. ”When he arrived home, he walked into the argument between his wife and the unknown gunmen. He tried to escape from the building before he was shot,” a source said. One of the security men on duty in his house said he heard the shots and came out of his cubicle to meet the seriously injured body of his boss outside the gate. The deceased was said to have been rushed to the Federal Medical Centre in the city centre where he died on Monday evening as a result of the injuries he sustained from the gunshots. The spokesman of the Bayelsa State Police Command, Asinim Butswat, confirmed the incident. He said the team of policemen from the command had visited the scene of the crime, noting that investigation had already begun.

NUATE Pickets Kenya Airways Chinedu Eze The National Union of Air Transport Employees (NUATE) yesterday picketed the operations of the East African carrier, Kenya Airways over labour issues. The picketing of the airline took place as early as 7a.m. and disrupted the check in process of its passengers who were slated to depart Lagos to Nairobi by 8a.m. Hoards of passengers were seen either sitting down on the floor of the terminal or loitering around the premises and unsure of when the union would allow the airline to commence check in of passengers. Kenya Airways operates daily between Lagos and Nairobi. The union members and some workers of the airline were seen with different placards alleging that the airline treats its workers like slaves. The union also insisted that it would continue to picket the airline until its demands were met. Speaking at the rally, the General Secretary of NUATE, Olayinka Abioye in an interview with journalists, alleged that the airline reneged on all the agreements it had with the union since 2016. He also alleged that there had not been salary reviews

of workers in the airline in the past 10 years, adding that such would no longer be tolerated by the union. Also speaking on the picketing of the airline, the General Secretary of NUATE, Mr. Lucky Izevbokun, remarked that the union would continue to ground the operations of the airline until its demands were met, adding that its Nigerian employees were treated like slaves. He explained that the unions had given the management of the airline enough time to implement the agreement reached with it since 2016, but lamented that the management had continued to renege on its agreement. He said: “We have given them some ample time to fulfill their promises, but it seems the management is not serious about the implementation. The misbehaviour of Kenya Airways led to the grounding of their operations today. “We are asking for improved working condition of our members with the airline, but they have been dribbling us since the agreement was reached in 2016. We will continue to ground their operations in the country until they meet our demands,” he said.

five infant females made up a total of 74 females who returned to Nigeria, while 169 adults, one child and one infant males totalled up to 171 males. One of the returnees had one of his leg amputated when his detention camp was invaded and as he was trying to escape, some bullets hit his leg. After spending three months in the hospital, he was amputated.

While commending the courage of the Nigerian returnees in their resolve to voluntarily return to the country to start up a new life, the Director General of NEMA, Mustapha Maihajja, said everything necessary would be done to reintegrate them into the society. The DG who was represented by NEMA South-west Zonal Coordinator, Alhaji Suleiman

Yakubu, said there are many Nigerians who refused to return due to shame and the likes especially fears of meeting their mates who might have succeeded in their endeavours since they left Nigeria to hustle. He said: “It takes courage for you to return home. Nigeria is changing fast as the federal government is making everything possible to ensure that every Nigerian will

be proud of being a Nigerian. “All the government is expecting from you is to have faith in God and your leaders and discharge your civic responsibilities. “One returnees had one of his leg amputated when his detention camp was invaded. He was trying to escape when bullets hit his leg and after spending three months in the hospital, he was amputated.”

NIGERIAN DELEGATION TO WTO

L-R: Permanent Secretary, Ministry of Industry, Trade and Investment, Mr. Akpan Edet Sunday; Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; and Economic Adviser to the President, Ambassador Yemi Dipeolu, at the on-going 11th WTO Ministerial Conference in Buenos Aires, Argentina...yesterday

Apo District Residents Petition CJN over IG’s Illegal Seizure of Property Residents of an Abuja community have petitioned the Chief Justice of Nigeria, Justice Walter Onnoghen, over the role and conduct of the Inspector General of Police (IG, Ibrahim Idris, in flouting a valid judgment of the Court of Appeal over the illegal seizure of their properties at XK Layout, Apo District of the Federal Capital Territory (FCT). The layout which comprises of 78 hectares of land accommodates over 600 families that have been forcefully thrown out of their homes by the police on the orders of the IG. The residents accused him of aiding and abetting a former Deputy Governor of Osun State, Mr. Clement Adesuyi Haastrup, and his company, ENL Consortium Limited, to dispossess them of their property. Already, an Abuja Chief Magistrate Court issued a bench warrant for the arrest of Haastrup and the officials of his company for disobedience of a judgment of court, but residents pointed accusing fingers on Idris for refusing to carry out the order of the court. Trouble started for the residents in 2009 when the Minister of the Federal Capital Territory attempted to dispossess the residents of their land over which they claimed to have

already been given titles by the same government. Several of the residents had already developed their properties and were living on it when they suddenly woke up one day in April 2009, and saw policemen and thugs move in with caterpillars brought by the ENI Consortium, claiming that government have approved the land to be used to build an estate. They were chased out and building on the land demolished. The residents quickly approached an Abuja High Court and got an interlocutory injunction issued by Justice O.O Goodluck that restrained the Minister from forcing them out of the land pending the determination of the suit. Joined in the suit with the Minister are the Federal Capital Development Authority (FCDA), Federal Housing Authority (FHA), the Attorney General of the Federation and ENL Consortium Limited. The suit went into trial and Justice Goodluck delivered judgment on May 27, 2011. The trial judge ruled that only those who had accepted the offer of the plaintiffs through payment could have access to their land. Not satisfied, the residents approached the Court of Appeal on the grounds that the lower court judgment was a miscarriage of justice.

On May 18, 2017, after going to trial, a panel of Justices of the Appellate Court, led by Justice Mohammed Mustapha, who read the lead judgment upturned the decision of the lower court, giving possession to the residents. Other Justices, Justice Emmanuel Akomaye Agim, and Justice Tani Yusuf Hassan concurred with the judgment. After several attempts to get the police to assist the bailiffs of court to execute the judgment, and restore possession to the plaintiffs, the police eventually agreed via a letter dated September 27, 2017, to assist in the provision of security in execution, five months after judgment was delivered at the appellate court. Judgment was eventually executed on October 12, 2017. The residents were about to heave a sigh of relief when on October 28, 2017, the police from Asokoro District led by the DPO, invaded the land again, chased out the residents, and padlocked the gates that lead to the layout. Till date, armed policemen are on guard while the lawful residents are locked out and left with an option of finding alternative accommodation. The police did not stop there. They invited the leader of the residents that have been championing their cause since

2009, Dr. Mohammad Musa Tumala, to the FCT Command over a case of “Criminal Conspiracy and suspected culpable homicide”. The police letter was dated November 10, 2017. It was a case of one Orika Ibe Kalu, a water engineer who died on June 22, 2017, in the course of pumping water from an underground septic tank. In its investigation report dated June 26, 2017, and signed by one Inspector Ofon Bill, the police concluded that late Kalu “died of inhaling the carbon monoxide emissions from the water pumping machine that he used inside the soak-away pit. The pumping machine belongs to the deceased and he was fully aware that the machine had technical problems and he went ahead to make use of it that way. Based on the foregoing, it was proven beyond reasonable doubt that no person or persons was/were involved in the death of the deceased”. The police eventually backed down on the case after investigations proved that Tumala had no hand in the case. In all these, the police despite the judgment of court are still in occupation of XK Layout, while the lawful owners are outside, hanging around and battling to survive.

T H I S D AY ˾ WEDNESDAY, DECEMBER 13, 2017

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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

WORLD CUP QUALIFIER

FIFA Sanctions Nigeria over Use of Ineligible Player NFF: We apologise for the slip but erring official will not go unpunished Duro Ikhazuagbe The Nigeria Football Federation (NFF) has been sanctioned for fielding an ineligible player in the match between Algeria and Nigeria on November 10, 2017. In addition, Nigeria is to pay a fine of 6,000 Swiss Francs (about N2.2million) FIFA’s Disciplinary Committee yesterday awarded three points and three goals from the November 10 last Group B World Cup 2018 qualifier in Constantine to Algeria. Incidentally, Nigeria only lost one point as the match ended 1-1. Nigeria’s remaining 13 points ensured Super Eagles have nothing to fret about as winners of the group while Algeria moved from two to four points. The world football ruling body insisted that Abdullahi Shehu was ineligible to play Nigeria’s last World Cup game away to Algeria on November 10, 2017. Shehu was first booked in Nigeria’s first round qualifier against Swaziland in 2015 before another card in the game against Zambia. The two caution (yellow) cards made it mandatory for the Nigerian defender to miss one game. “The sanction relates to the player Abdullahi Shehu failing to serve the automatic one-match suspension imposed on him as a result of receiving a caution in two separate matches

of the same competition,” observed FIFA. Traditionally, yellow cards issued in previous rounds of the qualifying race are cancelled going forward, but the principle did not apply for the latest series. However, in a swift reaction to the sanction from FIFA, a miffed NFF President, Amaju Pinnick directed that an internal inquiry be instituted immediately and persons found culpable be dealt with. “We accept the decision of the FIFA Disciplinary Committee to fine the NFF and award the match to Algeria. “However, this is a grave error and somebody must be punished. We apologise to Nigerians for this and assure that this will not in any way derail or even distract us in our well-laid plan to ensure that the Super Eagles have a great outing in Russia. “At the same time, I want to assure Nigerians that persons responsible for this slip would not be given just a slap on the wrist. We are actually looking at a re-organisation of the Technical Department. The Technical Committee will henceforth play serious superintending role on all details, no matter how minute, in technical matters. “It is important that all committees and departments at the NFF should move at the same pace as the Executive Committee,” Pinnick concluded.

NPFL INVITATIONAL SUPER SIX

CHAN Eagles Confront Champions Plateau Utd Maikaba satisfied with Akwa Utd’s draw with MFM Home-based Eagles will this afternoon file out against reigning Nigeria Premier Football League (NPFL) champions Plateau United at the Sani Abacha Stadium, Kano in their first match of the glamour Super Six Tournament. Head Coach of the team, Salisu Yusuf, has promptly replaced injured Joseph Osadiaye with Nura Mohammed, while the place of former Akwa United FC defender Afeez Aremu, who few days ago signed a contract with IK Start FC of Norway, will go to veteran wing back Chima Akas. The squad of 30 players and their officials are staying at the Tahir Guest House in the ancient city, and Yusuf has emphasised the importance of regaining winning spirit ahead of the 5th African Nations Championship following a 4-1 bashing by Ghana in the WAFU Cup final in September. After defeating Sierra Leone and drawing with Mali and Guinea, the Eagles overpowered Ghana and Benin Republic to reach the WAFU Cup final, only to lose to the host nation in Cape Coast.

Nigeria qualified for the 5th African Nations Championship following a 2-1 aggregate win over Benin Republic in August, and will play Rwanda, Equatorial Guinea and Libya in Group C at the finals starting on 13th January. In Kano, the Eagles will rest on Thursday before clashing with two-time African champions Enyimba FC at the same venue on Friday, with the final set for Sunday. After the Super Six Tournament, 25 players are expected to be involved in a second phase of camping before the team departs for Morocco early next month. Meanwhile, Akwa United Head Coach, Abdu Maikaba, has expressed contentment with his team’s 1-1 draw with MFM FC on the opening day of the ongoing NPFL Invitational tournament on Monday. Maikaba’s men rallied back from a goal behind to claim a point off MFM at the Sani Abacha Stadium in Kano after Ajibola Otegbeye converted from the spot to cancel out Adegboyega Adekunle’s strike for the Lagos club.

FIFA had hinted the NFF about the disciplinary proceedings, following the use of Abdullahi Shehu in the match against Zambia in Uyo on October 7. Pleas from the federation that the technical officer (at the NFF) whom the FIFA email (suspending Shehu) was

directed to was hospitalised at that period with a serious heart problem and so was not on emails and couldn’t have seen it was rejected by the men in Zurich. Two seasons ago, Real Madrid was thrown out of the Copa Del Rey and fined for fielding an ineligible player.

Russia winger Denis Cheryshev started in the fourth-round tie, despite being suspended after picking up a third yellow card in the semifinals of the previous season’s competition when on loan at Villarreal, and scored Real’s first goal. Cheryshev was withdrawn

from the action moments after half-time when Real had realised their error, with then head coach Rafael Benitez saying they wanted to “show good faith”. Spain’s football federation fined Real Madrid 6,000 euros (£4315) and awarded the game to Cadiz.

Abdullahi Shehu (left) in aerial battle with a Danish forward during the Rio 2016 Olympic Games men’s football tournament in Brazil

Ambassador Prays for Nigeria, Russia Final The Ambassador of the Russian Federation to Nigeria, Nikolay Udovichenko has said that he is looking forward to Nigeria and Russia clashing in the final of the 2018 FIFA World Cup at the Luzhniki Stadium in Moscow on Sunday, 15th July 2018. “I want to congratulate the NFF and the Super Eagles for Nigeria’s qualification for

the FIFA World Cup. Please be assured that the Russian Federation is fully ready to host the competition. We have received a lot of requests from the host cities on what special characteristics the Nigerian team have. They want to be fully prepared in all aspects to receive the Super Eagles. “From the depth of my

heart, I am hoping that your team makes it to the final in Moscow on 15th July, to play against Russia.” Udovichenko spoke on Tuesday afternoon as he received a delegation from the Nigeria Football Federation, led by its President, Mr. Amaju Melvin Pinnick. Pinnick thanked the

Ambassador for his good wishes, while noting that Nigeria’s first feel of Russian soil ahead of the FIFA World Cup ended in a sweet victory over Argentina in a friendly match in Krasnodar. “We helped you to beat Argentina because they had beaten your team in another friendly a few days earlier.”

Singabele Thumbs up Monimichelle iBet Nigeria Targets Sports over Bayelsa Sports Summit Devt from Grassroots Veteran Nigerian football administrator and member of CAF Medical Committee, Dr Peter Singabele has given a pat on the back to the Chief Executive Officer of Monimichelle, Ebi Egbe for putting together the Bayelsa State Sports Summit taking place in Yenagoa today. Singabele who is going to be chairman of the epoch event said yesterday that he was happy a Bayelsa indigene has come up with this laudable idea that could change the face of sports in the state. In Singabele’s words: “The Bayelsa State Sports Summit is significant in many ways. First, this is the first time in the history of the state that stakeholders would be coming together under one roof to discuss the way forward for Bayelsa sports. The summit

will galvanise sports in the state. I give kudos to Ebi Egbe for coming up with this idea and going ahead to bankroll it. The summit is a good one and that is why I am throwing my weight behind it.” Singabele who noted that the convener has made it clear that it is a non-political forum, urged those coming to the event to feel free to speak their minds on how to move Bayelsa sports forward. He stressed that the summit should not be used to blackmail anybody or group insisting that sports play the role of unifying people. The Bayelsa sports summit is billed to take place today at the Lady Diama Event Place in Yenagoa with the state governor, Seriake Dickson, gracing the event as Special Guest of Honour.

The Chairman of the newly unveiled sports betting company in Nigeria, iBet Nigeria, Otunba Gbenga Elegbeleye, has vowed to use the company to positively change the face of sports development in Nigeria. The former Director General of National Sports Commission (NSC) disclosed this at the unveiling ceremony of the betting company held at the Jabi Lake Boat Club, Abuja on Monday. “What we are trying to do is to start a process where sports betting in Nigeria will be beneficial to sports development in the country. “Already, we are discussing with the President of the Nigeria Football Federation, Amaju Pinnick, on the ways iBet Nigeria can promote our young and talented players

from the grassroots level. Not those that were already discovered but the ones yet to hit limelight. “We want to help discover them, polish them and prepare them well to be ready for our U-17 and U-20 national teams. “Again, iBet Nigeria will help in empowering our youths. We want to engage Nigerian youths as iBet agents such as you have your shops and we give you our materials and people come to you to stake and you make commission. “We are going to have offices in all the states of Nigeria and all the local government areas as well as towns and villages in the country. iBet Nigeria will be everywhere. We are targeting giving employments to at least 5,000 youths in the country,” Elegbeleye explained.

Wednesday December 13, 2017

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Price: N250

MISSILE

Tinubu to Okorocha

â&#x20AC;&#x153;Every individual has a right to endorse or support a candidate of his choosing. What Asiwaju said at that encounter and still canvasses is that the APC should not mimic the PDPâ&#x20AC;&#x2122;s penchant for short-circuiting internal democracy by promoting the idea of an automatic ticketâ&#x20AC;? â&#x20AC;&#x201C; All Progressives Congress (APC) National Leader, Asiwaju Bola Tinubu reacting through his media aide, Tunde Rahman to Imo State governor Rochas Okorochaâ&#x20AC;&#x2122;s claim that some governors had endorsed president Muhammadu Buhari for a second term.

ISSAAREMU GUEST COLUMNIST

Donald Trump: Israeliâ&#x20AC;&#x2122;s Friend or Foe?

W

ith friends like the 45th President of United States of America, Donald Trump, Israel possibly needs not worry about the danger posed by Hamas, the Palestinian resistance movement. Gaza is firmly under the heels of Hamas which unapologetically remains hard put to recognise the state of Israel. On Wednesday December 6th, Trump acted true to character as a renegade president of the US by unilaterally recognising Jerusalem as the capital of the State of Israel. He even dared to announce the relocation of the US Embassy from Tel Aviv to Jerusalem! Of course there is already a bagful of his renegade policies: heâ&#x20AC;&#x2122;s set to repeal Obamacare, reneged on the climate treaty, set to reverse the deal with Iran, reversed Cuba-America detente, ad infintum. No country parades such as a rogue president mid-way in the first term. True to expectations, amidst global outrage which trailed Trumpâ&#x20AC;&#x2122;s diplomatic provocation, Hamas leader Ismail Haniya declared the US decision on Jerusalem as a â&#x20AC;&#x153;a declaration of war against Palestiniansâ&#x20AC;?. He called for a new â&#x20AC;&#x153;Intifadaâ&#x20AC;?. The critical question begging for an answer is: what manner of a friend of Israel is Donald Trump, who through sheer political brigandage pushes Israel back to the brink of intifada (a Palestinian uprising manifesting in a series of violent acts and attacks against the Israeli occupation lasting from December 1987 to 2014 in which both the Palestinians and Israelis buried their dead)? A received African wisdom states that â&#x20AC;&#x153;a close friend can become a close enemyâ&#x20AC;?. With friends like Trump, Israel does not need to worry about Hamas leader Ismail Haniya. This is another paradox of the Middle East intractable conflict that both the enemies and so-called friends of Israel achieve the same goal: keeping the state of Israel in perpetual war of attrition! Reading through the 1,250 plus words of Trump recognising Jerusalem as the capital of Israel reminds me of the opening sentence by Simon Seberg Montefiore in his introduction to his best selling â&#x20AC;&#x153;Speeches that Changed the Worldâ&#x20AC;? ( 2005). According to Simon, a â&#x20AC;&#x153;great speech does not just capture the truth of the era; it can also capture the big lieâ&#x20AC;?. Trumpâ&#x20AC;&#x2122;s speech of December the 6th was comparable to Adolf Hitlerâ&#x20AC;&#x2122;s of September 1938 in the sense that they both captured the â&#x20AC;&#x153;big lieâ&#x20AC;? alluding to world peace when as agent provocateurs they both verbally worked for global war. According to Trump, his predecessors had invoked â&#x20AC;&#x153;waiversâ&#x20AC;? refusing to move

Trump

Netanyahu

the US Embassy to Jerusalem or to recognise Jerusalem as Israelâ&#x20AC;&#x2122;s capital city. Apparently, Trump did not invent the idea of Jerusalem as the Israeli capital, contrary to his verbal appropriation and empty grandstanding. Why should Trump be holier than the pope, even when we have just witnessed many devilish details â&#x20AC;&#x201C; tear gassing, stone-throwing, shootings and killings â&#x20AC;&#x201C; in the aftermath of his unthinking, self serving diplomatic adventure? Former American presidents with an eye on peace in a war-torn region were commendably more measured in applying the controversial 1995 American-Jerusalem Embassy Act than a trigger happy President Trump bent on diverting attention from his domestic woes. So much for his â&#x20AC;&#x153;courageâ&#x20AC;?! Elie Wiesel, a celebrated writer and Jewish survivor of Nazi Germany had warned us about the perils of indifference. It is refreshing the world has risen in unison to condemn President Trump for further reinventing violence in Jerusalem and almost putting on hold the peace process in the Middle East. According to Pope Francis, Jerusalemâ&#x20AC;&#x2122;s status should be preserved and needless

conflict avoided. At his weekly general audience at the Vatican, Pope Francis spoke with a heartfelt appeal to ensure that everyone is committed to respecting the status quo of the city, in accordance with the relevant resolutions of the United Nations. â&#x20AC;&#x153;Jerusalem is a unique city,â&#x20AC;? he said, â&#x20AC;&#x153;is sacred to Jews, Christians and Muslims, where the Holy places for the respective religions are venerated, and it has a special vocation to peace.â&#x20AC;? In his remarks, the Secretary-General of the United Nations, Antonio Guterres, conveyed an international diplomatic rebuke: â&#x20AC;&#x153;Any unilateral measures that would jeopardise the prospect of peace for Israelis and Palestiniansâ&#x20AC;Ś Jerusalem is a final-status issue that must be resolved through direct negotiations between the two parties on the basis of the relevant Security Council and General Assembly resolutions, taking into account the legitimate concerns of both the Palestinian and the Israeli sides. In this moment of great anxiety, I want to make it clear: there is no alternative to the two-state solution.â&#x20AC;? He added: â&#x20AC;&#x153;There is no Plan B. Only Prime Minister Benjamin Netanyahu

It is really true that bad friends like Trump will prevent Israel from having good friends. By the way, one searches in vain for Nigeriaâ&#x20AC;&#x2122;s position on Trumpâ&#x20AC;&#x2122;s latest, reckless diplomatic adventure in Jerusalem. Itâ&#x20AC;&#x2122;s time President Muhammed Buhari walked the talk at the 2017 UN General Assembly in September on key foreign policy issues such as the Middle East crisis

who hopes to politically profit from the domestic Palestinian red-herring, (just like Trump!) hailed Trumpâ&#x20AC;&#x2122;s plans to recognise Jerusalem as Israelâ&#x20AC;&#x2122;s capital. Most peace loving Israelis are not as excited as Benjamin Netanyahu and Trump. For instance, notable Israeli politicians such as Meretz leader Zehava Gal-On, a serving member of Knesset from 1999 to 2017, observed that moving the US embassy from Tel Aviv to Jerusalem could enflame the entire region. She warned that such a unilateral move could distance peace. Moving the embassy could serve Netanyahu but could brig about an unnecessary explosion.â&#x20AC;? Ayam Odeh, Chairman of the Joint List, said: â&#x20AC;&#x153;Trump is a pyromaniac who could set the entire region on fire with his madness,â&#x20AC;? adding that the US presidentsâ&#x20AC;&#x2122;s grandstanding â&#x20AC;&#x153;proves decisively that the United States cannot remain the sponsor or arbitrator in negotiations between Israelis and Palestiniansâ&#x20AC;?. The African Union Commission also rightly questioned the United Stateâ&#x20AC;&#x2122;s decision to recognise Jerusalem as the capital of the State of Israel. The chairperson of the African Union Commission, Moussa Faki Mahamat, noted with deep concern the decision of the United States Government to recognise Jerusalem as the capital of Israel. According to the AU, the decision â&#x20AC;&#x153;will only increase tensions in the region and beyond and further complicate the search for a solution to the Israeli-Palestinian conflictâ&#x20AC;?. He reiterated the solidarity of the African Union with the Palestinian people and its support to their legitimate quest for an independent and sovereign state with East Jerusalem as its capital. The chairperson spoke the mind of Africans in calling for a Middle East solution â&#x20AC;&#x153;based on the existence of two states, Israel and Palestine, living sideby-side in peace and security, within the framework of the relevant African Union and United Nations pronouncementsâ&#x20AC;?. It is really true that bad friends like Trump will prevent Israel from having good friends. By the way, one searches in vain for Nigeriaâ&#x20AC;&#x2122;s position on Trumpâ&#x20AC;&#x2122;s latest, reckless diplomatic adventure in Jerusalem. Itâ&#x20AC;&#x2122;s time President Muhammed Buhari walked the talk at the 2017 UN General Assembly in September on key foreign policy issues such as the Middle East crisis. Increasingly, Nigeriaâ&#x20AC;&#x2122;s voice is lost on topical international issues. At best, Nigerian foreign policy has become reactionary, reacting than setting the agenda for genuine global discourse. Lest we forget, the late Nelson Mandela rightly observed that â&#x20AC;&#x153;we know too well that our freedom is incomplete without the freedom of the Palestinians.â&#x20AC;? t"SFNV JT B NFNCFS PG UIF /BUJPOBM *OTUJUVUF ,VSV +PT

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