Wednesday 3rd January 2018

NBS: India Remains Highest Importer of Nigerian Crude Country’s trade balance rises to N1.23tn in Q3 Ndubuisi Francis in Abuja India has continued to remain the largest importer of Nigeria’s crude oil, purchasing oil valued at N550.88 billion

from Nigeria in the third quarter of last year, a report released yesterday by the National Bureau of Statistics (NBS) has indicated.

The third quarter 2017

foreign trade figures by the statistical bureau also showed that despite the discovery of shale oil in the United State, Nigeria exported crude oil valued at N457.732 billion to

the U.S. in the third quarter of last year.

Crude exports to the U.S. put the country as the second highest buyer of Nigeria’s crude oil after India.

Other major buyers included Spain, Netherlands, France and Indonesia, which imported oil valued at N298.73 billion, N220.52 billion, N178.18 billion and N162.1 billion, respectively,

from Nigeria.

South Africa, Canada, United Kingdom and Italy also purchased Nigeria’s crude oil Continued on page 9

Lawal Kaita, former Governor of Old Kaduna State is Dead…

page 9

Wednesday 3 January, 2018 Vol 22. No 8294. Price: N250

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Ortom Weeps as Marauding Herdsmen Kill Scores in Benue Calls on Buhari to save his people President, Umahi, APC condemn Omoku, Kaduna killings, Wike offers N200m bounty Iyobosa Uwugiaren, Omololu Ogunmade, Onyebuchi Ezigbo in Abuja, Ernest Chinwo in Port Harcourt, George Okoh in Makurdi and

Benjamin Nworie in Abakaliki The killings perpetuated by bloodthirsty criminal gangs in parts of Nigeria since the start

of the New Year, continued yesterday when marauding Fulani herdsmen attacked two local government areas in Benue State – Guma,

Governor Samuel Ortom’s local government, and the Logo Local Government Area – killing over 50 persons.

The Chief Press Secretary

to the governor, Mr. Terver Akase, confirmed the attacks while speaking with THISDAY yesterday, saying those dead included nine members of the

Benue State Livestock Guards, while dozens were critically injured.

Continued on page 8

In Readiness for 2019, Buhari Reappoints Amaechi Campaign DG Tinubu backs president second term, may seek commitments Olawale Olaleye With 2019 general election just 13 months away, it has come to light that President Muhammadu Buhari may have finally thrown his hat into the ring to seek re-election next year by reappointing his Minister of Transportation and former governor of Rivers State, Hon. Rotimi Amaechi, as the Director-General of his 2019 election campaign.

Already, Amaechi, who led Buhari’s campaign in 2015, THISDAY gathered, has been issued a letter of

appointment for next year’s election and would make an official announcement on his appointment anytime soon.

Twice last year, Buhari had hinted at a possible presidential run, albeit subtly.

First, he did so during a summit on counter-terrorism in Abidjan, Cote d’Ivoire, and the second time last November, when he visited Kano State on a two-day working visit.

THISDAY gathered that although the president has Continued on page 9

Presidency, Stakeholders Constitute NEW YEAR CELEBRANTS… L-R: Mrs. Ajoke Okeowo; Chairman, Eleganza Group, Alhaji Razaq Akanni Okoya; his wife, Shade; and real estate mogul, C'ttee to Avert Future Fuel Crisis… Page 10 Chief Olu Okeowo, during the party hosted by Okeowo at his residence (Palacio de Okeowo) in Park View, Ikoyi, Lagos, to usher in the New Year… Monday

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PAGE EIGHT ORTOM WEEPS AS MARAUDING HERDSMEN KILL SCORES IN BENUE Ortom who was distraught over the incidents was said to have wept profusely at the scene of the attacks and called on President Muhammadu Buhari to protect his people from the hands of the bloodthirsty herdsmen.

The governor was also at the Benue State University Teaching Hospital to commiserate with the injured and said that the development was unacceptable.

The deadly incidents forced him to call an emergency meeting of the State Security Council yesterday to discuss the issue.

The attacks were said to have been carried out between New Year Day and yesterday in both local government areas.

A source disclosed that the invaders came into Logo at about 10 a.m. on New Year day, shooting sporadically as worshippers were coning out of church.

According to him, communities attacked included Ayilamo, Turan and Gaambe-Tiev in Logo.

He added that several persons were still missing while several houses and property worth millions of naira had been destroyed.

The source added that members of the newly constituted Livestock Guards, set up by Ortom for the enforcement of the Anti-open Grazing Law were also murdered, even as he frowned at the attitude of the government for deliberately refusing to send patrol vehicles to the area.

Also, another attack took place in Akor, Umenger and Tomatar in Guma Local Government Area at about 3 a.m. yesterday.

Speaking with newsmen at the end of the emergency security meeting held in Government House, Ortom said over 20 persons had been killed.

But later at the Benue State Teaching Hospital mortuary where the corpses of the deceased were deposited, he expressed shock at the number of persons murdered. “What I have seen here is far beyond the report we received.

Several innocent people have been killed. Women and children murdered with their throats slit open. “Many people are still missing while several houses have been destroyed. The whole of Guma and Logo have been turned into desolate lands. “You would recall that I made official reports to the federal government about the intended invasion of Benue State by these herdsmen who claimed that they would resist the (Anti-Grazing) law. I have never seen where people would come out with this level of impunity. “This is unfortunate; we are living in a country that is presumed to be our own. Security agencies in this country had been aware of the impending attacks and what you are seeing here is just a tip of the iceberg.�

Continuing, he added: “From the report I have gotten so far, what has happened is beyond what we are seeing here in Makurdi where some of the dead and injured are being brought for medical attention. “So many people have been killed, houses razed and some of those killed had their throats slit, eyes and private organs removed and killed like animals. “You can imagine that innocent women and children and unarmed people were slaughtered in cold blood just for no reason at all because they want to be law abiding. “I feel sad about all this. Is this how we are going to continue?

The federal government and President Muhammadu Buhari must rise and give us protection to show that we are truly citizens of this country. “Though we will continue to urge our people to be law abiding, there is a limit to what we can bear. This is not fair, it is not right and certainly unacceptable.�

When contacted, the public relations officer of the Nigeria Police Force headquarters in Abuja, Jimoh Moshood, said the force headquarters was yet to get the details of the Benue attacks.

Ortom had in November last year signed the Anti-Open Grazing and Anti-Kidnapping, Abduction, Cultism and Terrorism Bills into law.

Ortom said that the anti-grazing law would bring to an end the incessant clashes between herdsmen and farmers in Benue.

He lamented the destruction of lives and property in clashes involving farmers and herdsmen over the years, and promised to promote ranching since it had proved to be the best way of rearing livestock globally.

Rivers, Kaduna Killings Condemned News on the Benue killings came just as President Buhari, Ebonyi State governor, Dave Umahi, and the All Progressives Congress (APC) condemned the New Year day killings in Omoku, Rivers State and Sango Local Government Area in Kaduna State.

At least 17 persons were killed after the New Year day crossover service by unknown assailants in Omoku, the headquarters of Ogba/Egbema/Ndoni Local Government Area (ONELGA) of Rivers State, while a traditional ruler, Etum Numana, Dr. Gambo Makama, and his pregnant wife, were slaughtered in Sango, Kaduna State on the same day.

In a statement issued yesterday by his media aide, Malam Garba Shehu, Buhari said his administration would investigate and bring to justice the perpetrators of violence in various parts of the country, stating that no religion or civilised culture condones violence, especially the destruction of innocent souls.

The president, who also condemned the killings of citizens in Rivers and Kaduna States on New Year day, described the incidents as “reprehensible and unacceptable� and directed the law enforcement agencies in both states to intensify efforts and ensure that the assailants face the music.

Shehu said in the statement that the president frowned at killings in the name of religion at separate meetings he had with the Qadiriyya Muslim Movement in Africa and Izalatul-Bid’a-WaIqamatus-Sunnah at the State House, Abuja.

According to him, the president said anyone, or group of persons, who unleashes violence on the innocent in the name of a movement, cause or religion, lacks an understanding of the ordinances of God. “You can’t kill to please God, and I know no religion tolerates the taking of another person’s life in the name of a religious movement. There is no justification for killing any member of the society. “We have been tackling the Boko Haram menace and we have made significant impact, and we will extend the measures to stop all wanton killings,� he was quoted as saying.

The statement added that the president said the country’s security apparatus would be consistently reviewed to check threats to the peaceful co-existence of all Nigerians with a view to ensuring the safety of lives and property.

It also said the president told the delegation that his political party, the APC, predicated its campaigns on three issues – adequate security, the fight against corruption, and economic development to aid job creation, adding that his government had been consistent in pursuing them. “Our priority is to also ensure that everyone in the country has something to eat. We are really concerned about the underprivileged. Graciously, God has been hearing our prayers. “In the past two years, we have had bountiful harvests due to favourable conditions. All over the country, we have reports of farmers posting good harvests... “Justice will be done to all in the war against corruption. As religious leaders, I urge you to reach out to your followers to respect the rights of others. “Those that stole from the public can no longer sleep well in the country today. When they run abroad, they cannot take their landed assets with them. We will, in all cases, have them return what they looted,� he added.

According to the statement, the leader of Qadiriyya Muslim Movement in Africa, Dr. Keribullah Nasir Kabara, said the movement would continue to uphold the president in prayers for good health and longer life to enable him build a stronger nation that caters for all citizens.

Kabara, the statement added, said reports of improved security in the North-east and better harvest for farmers across the nation were clear signs of God’s favour and urged the president to continually look unto God. It also said the sheikh observed that the improved security situation in the country had made it possible for ten million members of Qadiriyya from many parts of Africa to gather in Kano for some days to commemorate the birthday of the founder of the movement without a single attack.

The statement added that the leader of the second group of Ulamas, Shiekh Bala Lau, commended the government’s ongoing drive for infrastructure development in the country and urged Buhari to continue to remember the masses who look up to him for improved wellbeing.

In another statement by Shehu, Buhari expressed shock and outrage over the reports of the massacre of innocent persons in Omoku in Rivers State and the killings of a traditional ruler and his wife in Sango, Kaduna State on New Year day.

While appealing to the affected communities not to embark on reprisal attacks, he asked them to allow the security agencies to thoroughly investigate the incidents and make the perpetrators face the music.

The president was quoted as saying: “I have always maintained that nothing justifies the taking of the life of an innocent person,� adding: “People in our communities must learn to live peacefully.�

The statement also said the president commiserated with families of the victims and wished the injured a speedy recovery.

Also condemning the Omoku attack, the senator representing

Rivers South-East, Sen. Magnus Abe, described the killings in the early hours of the New Year day as barbaric and senseless.

A statement yesterday by his media aide, Mr. Parry Benson, said Abe expressed concern over the re-emergence of violence and crime in the area.

He said it was needless for humans to take the lives of others. “The incident should be condemned by every right thinking Rivers man and woman. “Rivers communities should not be allowed to become havens for blood thirsty hoodlums,� he said.

The senator urged the NyesomWike-led government to assist the security agencies with the needed tools to tackle the security challenges bedevilling the state. “The killing in Omoku is an indication that all is not well, the state government should assist the security agencies with the needed tools to tackle the rising state of insecurity. “The state government must drastically re-engineer the security architecture of the state, and provide funding to fight crime to stop this endless waste of human lives,� he said.

Similarly, the ruling APC condemned the gruesome attacks on worshipers ushering in the New Year in Taiwo Isale area of Ilorin, Kwara State, and Omoku community in Rivers State.

In a statement issued yesterday by the APC spokesman, Bolaji Abdullahi, the party also condemned the killings of the Kaduna traditional ruler and his wife by unknown gunmen on New Year day. “Our thoughts and prayers are with the victims and with their friends, families and loved ones. We also condole with the government and people of the affected states. “It is unfortunate that when people were looking forward to the New Year, they were killed and maimed in such a gruesome, barbaric and needless manner.

There can be no justification for these evil, wicked and callous attacks. “While preliminary reports link the attacks in Kwara and Rivers State respectively to hoodlums and cultists in the reported areas, we call on the relevant security agencies to embark on a full investigation to unravel the perpetrators and make sure they face the full wrath of the law,� the party said.

Also reacting to the Rivers attack, the Ebonyi State governor condemned the New Year killings in Omoku, describing it as the height of insanity and barbarism.

Umahi in a statement signed by his Chief Press Secretary, Emmanuel Uzor, said the killing of innocent worshippers who went for the crossover night service was a national tragedy and condoled with the families of those who lost their loved ones.

The governor further commiserated with the government and people of Rivers State over the calamity and described the act as the height of insanity and degeneration of humanity to evil.

Umahi said: “We are here again faced with one of the greatest carnages and man’s inhumanity to man. To think that a man with blood running in his veins should open fire on innocent fellow citizens is so horrible and devastating. It is with great shock that I received the news and on behalf of my family and the patriotic citizens of Ebonyi State, I commiserate with my brother and friend,

Governor Nyesom Wike, the people of Rivers State and the families of the deceased. “Such an inhuman act further puts question to our existence as sane and salubrious conscious beings�

He called on the security agencies to intensify investigations into the massacre with a view to arresting the masterminds of the killing, while praying to God to grant the souls of the deceased eternal rest.

Wike Places N200m Bounty Meanwhile, the Rivers State governor, Nyessom Wike has placed a N200 million bounty for information that would lead to the arrest of the perpetrators of the New Year day Omoku massacre.

He also said the perpetrators would forfeit their houses, just as he directed the security agencies to go on a full-scale war against criminals in the area.

Wike spoke yesterday after he led the Rivers State Security Council on a fact finding/ sympathy visit to the families of the deceased. He also visited those injured during the attack.

The governor also visited the scene of the crime where he got briefings from the Nigerian Police Area Commander, Mr. Mike Nwafor and the Ogba/ Egbema/Ndoni (ONELGA) Local Government Council Caretaker Chairman, Mr. Olisa Osi. He said: “We have placed a N200 million bounty for relevant information that will lead to the arrest of all those involved in this unfortunate act of violence. “Anybody who is connected to this crime in any way will have his/her houses forfeited to the government. This place had been peaceful before this unfortunate mayhem. “We will not allow another case of violence. We have mobilised the security agencies to take the battle to the perpetrators.�

Wike said all those linked to the Omoku violence would face the full wrath of the law. “You cannot shed innocent blood and go free. We are working with all the security agencies to do everything possible to arrest the perpetrators. They must pay for this,� he said.

The governor commiserated with the families of the deceased, saying that the state government would support them in burying their loved ones and also settle the medical bills of those receiving treatment at different hospitals.

He said: “I am pained by this unfortunate mayhem. Enough is enough.�

The governor and the service commanders also visited the residence of wanted cultist, Don Wanny, where the governor commended the security agencies for working hard to improve security in the state.

The Chairman of Ogba/ Egbema/Ndoni Local Government Area, Mr. Osi Olisa, informed the governor that 17 persons lost their lives as a result of the attack.

Also recounting what transpired, Mrs. Comfort Ordu, who lost her husband and three of her children, said they were dragged out of their home and killed by the perpetrators.

Some of those murdered in cold blood included Favour Odili, Saviour Amirinze, Augustine Ordu, Precious Ordu, Wisdom Ordu, Jennifer Ohia and Innocent Ohia.

Others were Reuben Idogu, Baby Idogu, Ngozi Ogbuanukwu, Oyi Ogadinma, Nwakaego Ogadinma

and Uche Onige.

Wike was accompanied to Omoku by the Brigade Commander of the 6 Division of the Nigerian Army, Brigadier General A.A Bande; Commander of Joint Task Force, Colonel M.N Madi; Rivers State Deputy Police Commissioner, Ahmed Magaji; and Rivers State Director of the Department of State Services, Mr. Tosin Ajayi.

Amaechi Wants Wike Impeached But even as Wike placed a N200 million bounty on the killers in his state, his predecessor, Rotimi Amaechi yesterday called for his impeachment over the killings, contending that the governor has no excuse for not protecting the live of citizens in Rivers State.

Amaechi, who is the Minister of Transportation in the Buhari administration and a virulent opponent of Wike, said whilst the governor has been busy building roads, he has failed to protect lives and guarantee the development of human capital. “The first responsibility of a governor which is what the oath of office requires is that you swear to protect lives and property.

When you don’t protect lives and property, what do you do?

It is impeachment. Unfortunately, there is no House of Assembly in Rivers State. “There is too much noise coming from Rivers State. The governor just wakes up and starts shouting, abusing people.

That’s all he does, Mr. Projects painting roads. “The first thing you do is human capacity development and keeping human beings and we are losing lives everyday. “I just don’t know, because the things are there for him to work with. He is not like me, when during my second term President Goodluck Jonathan took away the police and the State Security Services (SSS). “The Army brigade commander couldn’t visit me, but in his case, everyone is at his disposal. “He can see the Commissioner of Police, Director, SSS, unlike my time, yet, we fought insecurity. But because he needs these people (criminals) for election purposes, that is why they are still there.

That is why they are killing. We need much more than that. “Unfortunately, I swore not to be talking about Rivers anymore but you don’t keep quiet in the face of 21 lives lost. You can’t just keep quiet. I have said it that nobody should criticise his successor. “Let him do his bit, but a successor that watches the lives of people go like that and does not care. God will bless him,� he said.

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˾ WEDNESDAY, JANUARY 3, 2018

PAGE NINE

Nigerians Tell of Being Used as Slaves in Libya The European Union is working with Libyan coastguards to reduce the number of migrants crossing the Mediterranean Sea. But many of those intercepted end up in detention centres in Libya, where some migrants say they are used as slaves, as the BBC found when it spoke to some Nigerians who have just returned home As evening falls on Benin City, outside the mildewed 1960s block of one of the city’s many hotels, a group of men and women are sitting on a scattering of plastic chairs, under a sign advertising “exotic cocktails” and “groovy nights”.

But they are not here for drinks or dancing, they are about to start the hard work of rebuilding their lives.

They have come from Libya, where most of them were held in detention centres by the Libyan authorities. And they have returned with accounts of horrifying abuse, including being leased or sold as slaves.

Agen Akhere has a round, baby-face but his small eyes are searing red. He is sniffling as he talks, and looks like he might well up with tears.

He was held for two months in a detention centre in a place called Gharyan. He was registered by the UN’s migration agency (IOM), released from the detention centre and flown home - but his friend did not make it.

“It’s because of money,” he said, pleading and craning his neck to get closer to the microphone. “My friend, he’s still there. His name is Samson.

He’s still there, in Gharyan.”

Gharyan is a prison in the mountains about 100km (60 miles) south of Tripoli. And it is a place where all of the migrants

we spoke to were taken before they made it home.

Again and again they tell the same story, of detainees horrifically abused by prison guards, starved, beaten, raped - and traded as slaves.

“They come to our caravans [cells], they pick six persons to do their dirty jobs to do farming, brick-laying work,” says Lucky Akhanene. He returned in the same group as Mr. Akhere and was held in Gharyan for four months.

“They give us out to their friends. They don’t pay us. It’s just hard labour, if you’re not fast with your job you get beaten.”

Three separate people spoke about being leased out by the prison for day labour like this.

Others said they were sold.

Jackson Uwumarogie and Felix Efe were arrested “on top of the sea”, off the coast of Libya and taken to Gharyan.

They said one night a prison guard came and counted out 20 men, he took them outside and blindfolded them.

Mr. Uwumarogie overheard the men talking about a price - 1,000 dinars ($735; £550). They were put into a van and taken to a farm.

Mr. Uwumarogie and Mr. Efe were forced to work harvesting onions and feeding cattle. They slept in a plywood hut and were guarded day and night by men with guns. They were never paid.

Mr. Uwumarogie’s baggy tracksuit bottoms hang from his tiny waist and a tight woollen polo neck highlights his skinny frame and slightly puffy, swollen cheeks.

He is clearly not well. On the farm they were only given food every few days, he said, and given sea water to drink.

After six months they and five others were loaded into a pick-up truck and taken to the desert.

“They dumped us there,” Mr. Uwumarogie said. They were there for two days.

“It was with the help of God that we found the man that rescued us.” The man brought them to his house and then took them to Tripoli to meet the IOM. Stories of black slavery in Libya have been circulating for the past two years. But the number of accounts we heard from recent returnees seems to suggest it has become endemic in the detention system.

And it is tied to something that has been going on for much longer: a dark but thriving industry in which migrants are extorted for money by traffickers and prison guards.

“There was a connection man who normally has a connection to the Mudeen, that is director of the prison. He would call them and he would bail them out,” Mac Agheyere said.

He left for Europe in 2015 and was arrested and taken to prison

in the Libyan town of Zawiya.

“I had no one to bail me out.”

He explained that the middleman would charge up to 250,000 naira ($695; £520) per person.

Mr. Aghayere borrowed money from his family in Nigeria to pay for his own release but he was arrested again. This time he could not afford to pay but one day a man came, who paid it for him.

“I thought he was my Messiah,” Mr. Aghayere said.

“I never knew he was an evil person.”

The man owned a carwash and some beach huts by the sea.

He said Mr. Aghayere should work for a month to pay back the release money.

After that, they agreed on a salary. But two months later he refused to pay. Another month went by and he refused to work any longer.

“He beat me with an iron bar,” he says. “They took barbed wire and tied my hands and my feet and threw me inside a car and took me back to prison.”

Mr. Aghayere was told he was being sent back to Nigeria but he was transferred to Gharyan prison and spent seven months there before he was repatriated by the IOM. He said in the time he was there he saw 20 people die.

Again and again we heard stories of horrific abuse at Gharyan prison.

Each of the Nigerian migrants

we met, separately, told us that they were given very little food - a piece of bread smaller than the palm of their hand in the morning and watery pasta in the evening.

Some said they drank water from the toilet. They were regularly rounded up and beaten.

“They beat boys,” Fatima Atewe said. She was one of the only women who agreed to speak to us about what happened in Gharyan.

“Even in prison in Nigeria, they don’t beat Nigerian people the way they beat Nigerian people there.”

“Many people are dying there day and night. And their cold is not good, their cold is like inside a fridge,” Ms. Atewe added.

She spent just over 10 days in Gharyan before she was repatriated. She had been arrested with a friend and after three days in prison she said, her friend was sold.

The UN’s migration agency, together with various African governments are working to get migrants home. But delegates from each country have to get to the detention centres before they can identify their citizens.

Libya is in the middle of a civil war. With many different militia groups vying for power, travelling beyond Tripoli is dangerous.

The prison at Gharyan is run

by Libya’s Ministry of Interior which itself is run by two militia groups.

The Ministry of the Interior is only nominally under the UNrecognised government in Tripoli.

As of yet, the Libyan Interior Ministry hasn’t responded to requests for an interview.

In recent months, the situation has become increasingly lawless but also on the rise is the numbers of migrants being held in these prisons.

The EU is encouraging Libya to stop migrants from crossing the Mediterranean. It has been training the Libyan coastguard to intercept boats leaving Libyan waters.

Arrivals to Italy have fallen by 70 per cent. But many of the migrants who are stopped end up in detention centres like Gharyan.

Medical charity Medecins Sans Frontieres says the numbers of migrants in the Libyan detention centres that it has access to have increased tenfold since July, when these policies began.

The UN’s human rights chief Zeid Ra’ad Hussein has described the policy as “inhumane”.

As more and more migrants pile into these centres, conditions will only get worse. The stories of abuse will keep coming. Those that return come with a warning.

“I just want to plead with everyone out there,” Lucky Akhanene said. “Libya is not a place to go.

“Most times I wonder if Libya is not from this earth.”

Lawal Kaita, former Governor of Old Kaduna State is Dead Emmanuel Otaru The former governor of old Kaduna State, Alhaji Lawal Kaita is dead.

He died yesterday evening at the Turkish Hospital in Abuja.

Governor Aminu Bello Masari of Katsina State has expressed sadness over the death of the former governor, saying Nigeria

has lost a patriotic son who had contributed immensely to the development of contemporary politics in Nigeria.

Governor Masari, in a statement signed by his Senior Special Assistant (SSA) on Media, Abdu Labaran Malumfashi, described the deceased as ‘one of the most accommodating, generous

and refined politicians the nation has produced’, adding that politics will never be the same without the jocular banter of the deceased.

According to the governor, “Katsina State, and indeed the nation at large, will miss the wise counsel of Alhaji Lawal Kaita. “For Alhaji Lawal Kaita, politics was never a do or die affair, but a vehicle for service to the

people. “On behalf of the good people of Katsina State, I condole President Muhammadu Buhari, the Emir of Katsina, Alhaji Abdulmumin Kabir Usman and the immediate family of the deceased. “May Allah forgive all his shortcomings and grant him eternal rest, and grant his family the fortitude to bear the loss,” the statement further reads.

Late Lawal Kaita

IN READINESS FOR 2019, BUHARI REAPPOINTS AMAECHI CAMPAIGN DG refused to share his 2019 aspirations with many people, he has however intimated Amaechi of his intention to seek re-election.

Amaechi before the 2015 elections had convinced Buhari, who after losing to former President Goodluck Jonathan in 2011 had said he would not contest for the presidency again, to re-contest in order to stabilise the polity and implement the “change” agenda of the All Progressives Congress (APC).

However, this time around, Buhari was said to have confirmed his intention to run strictly to the “Buharists”, a group of loyalists formed by Amaechi and comprises governors of the APC, ministers, party chieftains and some prominent Nigerians, all of whom share the ideals of the group.

Amaechi, THISDAY gathered, formed the Buharists group at the height of growing criticism against the Buhari presidency and convinced its members to alter the

narrative against the president.

With the formation of the group, Amaechi was also said to have consulted with critical stakeholders in government, the party and the country, to first seek their buy-in and enjoin them to join the 2019 election bid, which according to sources, is expected to be much tougher than the 2015 contest.

Sources close to the APC also hinted that although a majority of party members are not averse to the president’s re-election bid, they

have however craved that things be done properly and expect Buhari to reach out to them personally to intimate them of his re-election bid.

According to sources, the National Leader of the APC, Chief Bola Ahmed Tinubu was also believed to have told some of those close to the president that whilst he and his loyalists in the South-west were ready to back Buhari’s re-election bid, the condition for their support would be different this time around.

According to one source, the APC chieftain had told those who approached him on Buhari’s re-election bid that “let it be known that we supported him in 2015 based on trust. This time, around, we have to negotiate proper agreement”.

Although it is almost a fait accompli that the president would run in next year’s election, sources in the APC are nonetheless very concerned that the contest will be much tougher due to the

disappointment, mistrust and discontent with the administration by a large section of Nigerians.

Accordingly, the Buharists have been reaching out to seek the understanding and cooperation of all that matter, as they forge ahead with Buhari’s re-election.

In the meantime, Amaechi, the sources revealed, would hold a press briefing in the next few days to announce his appointment as well as unveil the agenda for the Buhari 2019 project.

The second largest component was prepared foodstuff, beverages, spirits and vinegar and tobacco, which contributed N25.81 billion or 0.7 per cent of total exports.

The NBS report said: “In the third quarter, Nigeria exported most products to Europe, with an export value of N1.293 trillion, Asia N1.035 trillion and America N826.98 billion. The value of exports to Africa was only N367.28 billion, among which N114.93 billion in goods were

exported to ECOWAS countries.”

The nation’s total exports in the third quarter of 2017 were put at N3.573 trillion, representing a 15.19 per cent growth compared to the second quarter of 2017, and a 53.85 per cent growth compared to the third quarter in 2016.

The NBS added that total imports in the third quarter decreased to N2.349 trillion, representing a decline of 9.41 per cent quarter-on-quarter and 4.47

per cent on a year-on-year basis.

The statistical agency noted that Nigeria’s trade balance in the third quarter of 2017 amounted to N1.225 trillion, due to the continued increase in exports and a decline in imports.

“This figure in the third quarter more than doubled the value in the previous quarter and it is the first time that the trade balance exceeded N1 trillion since the last quarter of 2014,” the NBS report stated.

NBS: INDIA REMAINS HIGHEST IMPORTER OF NIGERIAN CRUDE valued at N161.5 billion, N148.9 billion, N107.5 billion and N100.9 billion, respectively, the report showed.

The NBS pointed out that the structure of Nigeria’s export trade was still dominated by crude oil exports, accounting for N2.972 trillion or 83.17 per cent of total exports in the third quarter of 2017.

Also in the period under review, Nigeria earned N397 billion as Liquefied Petroleum Gas (LPG), otherwise known as cooking gas,

and Liquefied Natural Gas (LNG) export proceeds.

A breakdown showed that the country exported N386.028 billion of LNG and cooking gas valued at N11.835 billion.

According to the NBS report, total earnings from gas exports during the review period amounted to N483.4 billion, including other gaseous components as well as LNG and LPG. For other petroleum gases,

exports stood at N30.8 billion, liquefied propane, N19.113 billion, and N14.71 billion for naphthalene.

The country also exported liquefied butane worth N13.71 billion, other LPGs, and other gaseous hydrocarbons valued at N7.199 billion.

The NBS stated that exports by sector revealed that Nigeria exported mainly mineral products, which accounted for N3.475 trillion or 97.2 per cent of total exports.

WEDNESDAY, JANUARY 3, 2018Ëž T H I S D AY

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NEWS

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

Presidency, Stakeholders Constitute C’ttee to Avert Future Fuel Crisis

Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË

For several hours yesterday, the Minister of State for Petroleum, Ibe Kachikwu, Chief of Staff to President Muhammadu Buhari, Abba Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, and oil marketers, met in the State House to brainstorm on the recent fuel crisis and proffer a lasting solution.

The meeting called by Kyari and attended by leaders of Depot and Petroleum Marketers Association of Nigeria (DAPMAN) and their Independent Petroleum Marketers Association of Nigeria (IPMAN) and Major Oil Marketers Association of Nigeria (MOMAN) counterparts, was spurred by fuel scarcity

which stalled joyful celebrations of Christmas and New Year in December.

The meeting was held in the conference centre of the old Banquet Hall of the Presidential Villa.

Speaking with journalists after the meeting, Kachikwu said the meeting was called to critically examine issues revolving around the scarcity with a view to finding a lasting solution to the menace of fuel scarcity in future.

He said the meeting was useful as it provided the platform to brainstorm on the development and ensure that Nigerians do not go through similar pain and trauma they went through in December.

He said it was against that background that the committee set up and chaired by him

DeďŹ ant PDP Group Plans to Set up Own NWC Jan 22

would continue with the meeting today in his office as he listed members of the committee to include: Baru, Ministry of Petroleum parastatals, members of DAPMAN, IPMAN, MOMAN and labour unions.

He also said if there is incriminating evidence against those who orchestrated the fuel crisis, they would be duly punished. “This meeting was called that involved literally all the players in oil industry. The GMD, DG, DSS, DAPMAN, IPMAN were there. The whole idea was to do a centric analysis of what really went wrong. Like you know, for over two years, we have been out of this petroleum crisis. ‘It’s been working well, NNPC has been managing it properly and suddenly, there was this gap. So, they wanted us to put heads together to find out what went wrong. It is not a fault finding meeting. How do we take correcting measures to avoid

that and what are the things that are creating the difficulties in the system? “Because fuel scarcity has been ever lingering. It’s been 30, 40 years old thing and I think it is to the credit of the president and his government over the last two years that we haven’t had any of this through his policy that he has enunciated. “So that was the objective of today’s meeting. Everybody gave ideas, everybody was collaboratively finding solutions.

The GMD started by presenting what the scenario was. At least for now, it has taken away the fuel queues that you see. Then dig into the long term solutions and everybody contributed. “We set up a committee which I will head. Members included: the GMD, most of the parastatals in the ministry, DAPMAN, IPMAN, MOMAN, labour unions, and we are to meet in my office tomorrow and dig deeper into this thing

and find a long term solution. “This is a major concern, that Nigerians should not be made to suffer; that Nigerians do not get through the kind of thing they went through this December. We want to find lasting solution and that is what the committee will come out with in the resolutions tomorrow. “I feel your pain, we share in those pains but we are going to find lasting solution. There are people who are culprits. They will be identified. In fact, the chief of staff instructed that specific names should be put on the table. Those who have gone against the rule, done certain things that are against the book should be punished. But the greatest difficulty in Nigeria is that people make allegations. “When you then ask for evidence, everybody now goes back into the safety nets. You cannot prosecute except you have evidence. I’m 30 years old as a lawyer. So, we will

need to find that evidence. We will definitely punish those who were behind the things that are wrong, but more fundamental, and more importantly is that we want to find lasting solutions and we all want to work more collaboratively,� he said.

Also speaking, Chairman of DAPMAN, Dapo Abiodun, confirmed that the committee set up would come up with a lasting solution to fuel crisis today as he listed emerging problems that might have orchestrated the crisis to include the decision of NNPC to deprive oil marketers of the opportunity of importing fuel as had been the case in the past.

According to him, whereas the oil marketers used to import 60 per cent of petroleum products into the country in the past, fuel importation is now the exclusive preserve of NNPC. He also said whereas fuel is sold at N145 per litre in Nigeria,

Cont’d on Pg 48

Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË

vested with powers to arbitrate on the matter.� He however An aggrieved group in the said those who feel aggrieved Peoples Democratic Party can go to court. (PDP) that goes by the While refuting BoT’s charge name Concerned Candidates that they are trying to cause and Stakeholders yesterday said distability in the party, he said they would inaugurate their own the BoT chairman, Senator Walid National Working Committee Jibrin, “called me personally and (NWC) on January 22. said he has gone for medical The members who stated checks and when he returned this at a press conference in we will have a meeting.�

Abuja yesterday, said they He added: “What we would no longer recognise the are doing is part of internal PDP Governors’ Forum, which mechanism to ensure that they declared is oppressive and PDP does not go down. We retrogressive to the party. are asking for restitution. You Meanwhile, the Prince Uche reconcile two people when Secondus-led PDP national there is a misunderstanding, leadership had warned the you don’t reconcile people when group against using PDP’s logo, a man kills another person’s slogan, flag or any insignia of son. What you do is restitution. the party as part of its activities. There has to be punishment.

Also, the national publicity The only thing BoT will do is secretary of PDP, Kola to do the right thing.�

Ologbondiyan, had threatened On why they choose to that persons who use their party operate from another secretariat, identity to create a faction risk he said rather than taking being arrested. laws into their hands, they The spokesman said the have decided to open their reconciliation committee led by own secretariat, stressing that the Governor of Bayesla State, factionalisation is allowed in Hon. Serieka Dickson would be every democracy. meeting the rest of the aggrieved “There fundamental right as stakeholders by second week of contained in the constitution.

January in order to iron out all We have a right of freedom of outstanding issues relating to the association.�.

December 9 national convention. On the issue of their party However, speaking on membership, he said: “We are all behalf of the group, Director card carrying members of PDP, General of the forum, Emmanuel most of us served in the recent Obi-Nwosu, said “finally, the national convention. Letters inauguration of the authentic written to us in recognition of National Working Committee our contribution to the party.

(NWC) of our great party will You don’t appoint non party take place on January 22, 2018. members into the party. Obi-Nwosu who denied that “It is exercise in futility to they are working against the paint members of this party ongoing peace process within in bad light by saying that the party, said what they are we are not party members. doing is one of the major means We can’t sell our party. of resolving internal dispute.

Most of the people causing “What happened in eagle the problem just joined the square does not require PDP. They just chanced into reconciliation but restitution. power and they believe they What we are doing is to ensure can subdue everybody.� that what was done wrong is On his part, former done right. What we need in Deputy Director of the Prof.

PDP now is thorough internal Tunde Adeniran Campaign party democracy.�

Organisation, Chief Akindele, On whether they will head said his former national to court, Obi-Nwosu, said: “the chairman aspirant is not behind Board of Trustees (BoT) has been their movement.

CLOWNING AROUND

Cross River State Governor, Professor Ben Ayade (left), and his predecessor, Senator Liyel Imoke, during the governor’s visit to Imoke in his hometown in itigidi, Abi Local Government Area of the state‌Monday

Lagos Police Arrest Badoo Cult Leader, Chief Herbalist Demolish shrine in Imosan village The Lagos State Police Command yesterday made a major breakthrough in the fight against the menace of Badoo cult with the arrest of the group’s herbalist, Fatai Adebayo, alias Alese.

The notorious activities of the dreaded cult group prevalent in Ikorodu and Epe axis of the state had sent many of the victims to their early graves with cruel killings through the smashing of mortar and pestle on victims’ heads.

Adebayo, 34, who specialises in administering oath on members of the group before they launch any attack, was arrested at his shrine located in Imosan Village, a suburb of Ijebu-Ode, Ogun State.

The arrest of the herbalist followed the arrest of some

Badoo cult suspects at the weekend including the overall head of the group. Speaking while parading Adebayo before journalists at the shrine, the state’s Commissioner of Police, Mr. Imohimi Edgal, said the head of the group was arrested on water during an attempt to escape.

The CP, who led the operation involving the Commander of Rapid Response Squad (RRS), ACP Tunji Disu; Chairman of Lagos State Special Task Force, SP Yinka Egbeyemi, among others, said investigation was still ongoing but that the full details about the arrests made so far would be disclosed on Thursday at a press briefing.

He said: “Over the weekend, we had far reaching achievement in the fight against the killers

popularly known as Badoo in Ikorodu. “Their kingpin who is the head of the group has been arrested. He was arrested on water as he was making his escape.�

Revealing how the herbalist was arrested, Edgal said: “One of the suspects arrested confessed and he led us here that before they go for any killing, the head of the group brings them to this gentleman (Adebayo) to come and carry out oath for both themselves and the piece of stone they used for their killings and that they don’t go for any killing without first of all coming for oath in this shrine and that is why we are here. “This gentleman is an accomplice before the fact and so definitely we are placing

him under arrest and as well as sealing off the shrine till after investigation. “I will give further details on Thursday during my press briefing but I can assure the good people of Ikorodu, Lagosians and Nigerians that we will not rest until this evil is completely rooted out from Lagos State,� Edgal assured.

The CP also made a brief stop-over at the palace of the traditional ruler of Imosan Village, Chief Tajudeen Muili, to intimate him of the criminal activities going on under his domain.

At the shrine located at No 38, Ayegbami Quarters in Imosan, which was later demolished by policemen, there were different charms and big stones said to be used for the illicit activities of the Badoo group.Â

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WEDNESDAY, JANUARY 3, 2018˾ T H I S D AY

NEWS

Buhari to Commission 10 Coaches, Two Locomotives, Inland Dry Port in Kaduna FG hikes train fare

Omololu Ogunmade ÓØ ÌßÔË President Muhammadu Buhari will tomorrow commission 10 new coaches and two locomotives for Abuja-Kaduna standard gauge rail line as well as an inland dry port in Kaduna.

This is coming as the federal government has disclosed plans to increase rail transport fare for Abuja-Kaduna route from its current N1,500 for executive class and N1,050 for standard class.

The new fares are yet to be disclosed.

Making this disclosure to journalists after meeting the president in the State House, the Minister of Transportation, Mr. Rotimi Amaechi, said the increase of locomotives from two to 14 would stop racketeering which had led to the sack of the station managers, porters, and ticket officials at Idu and Rigasa rail stations in August, 2017.

The first two modern locomotives for the route were purchased at N1.1 billion by the previous administration of President Goodluck

Jonathan.

Amaechi who said he discussed the planned inauguration with the president, disclosed that the president was happy with the development, moreso that it will ease pressure from passengers and aid comfort.

According to him, one of the locomotives will be dedicated to direct movement non-stop from Kaduna-Abuja to aid the early arrival of passengers who live in Kaduna and work in Abuja.

“The president is pleased with the arrangement because basically we will then be able to discharge the passengers pressure that we have had, that is why you have ticket racketeering. When demand outstrips supply then you see all sorts of attempts to cheats the passengers.

“There are two things I know the president likes, I have mentioned one, the second one, is after inauguration even the passengers agreed that the cost of transportation to Kaduna via the railway is a bit too cheap. So there will be a need to increase the price of the cost and then there will be

Kano LG Polls: I Don’t Recognise Kwankwasiyya List, Says KANSIEC Chairman Ganduje pledges warm reception for predecessor’s visits Ibrahim Shuaibu ÓØ ËØÙ

leadership and leadership of other parties, saying the Crisis rocking the All commission would only sell Progressives Congress forms to aspirants approved (APC) in Kano has taken by the Bashir Yahaya Karaye another dimension as the APC leadership. state Independent Electoral Until the recent release Commission (KANSIEC) of letter of approval of yesterday declared that no Karaye by the APC national recognition would be given secretariat as acting Chairman, to any Kwankwasiyya political the Kwankwanso-anointed group ahead of the February chairman, Umar Haruna 10 local government elections. Doguwa, was challenging the Besides, the commission state government’s legality to confirmed that 36 political party leadership. parties would participate in Sheka insisted that the much-awaited council polls. preparations had been Addressing journalists in concluded for the election his office, the Chairman of the with sensitive materials soon commission, Professor Garba to arrive from abroad.

Ibrahim Sheka, who dismissed On the issue of influence from insinuation that the commission the government, the professor was contending between the of economics insisted that he Ganduje and Kwankwaso’s would not succumb to any lists of aspirants, maintained: pressure from any quarters.

“KANSIEC did not recognise He denied rumours of his any group called Kwankwasiyya purported resignation. in our bulk list of political Responding to questions parties for the February 10 at a separate briefing, the local government elections.”

Commissioner for Information, Meanwhile, Governor Malam Muhammad Garba, Abdullah Umar Ganduje has noted that Ganduje would expressed his willingness to be kind enough to warmly warmly receive Senator Rabiu receive Kwankwaso with the Musa Kwankwaso to Kano due respect desirable of his for the local council election status during his planned visit. campaign.

Highlighting some of his Kwankwaso’s scheduled visit achievements in the last 12 for local government campaigns months, Ganduje posited has continued to create tension that his government has and possible crisis between fulfilled over 90 per cent of his loyalists and Ganduje’s his campaign promises to supporters.

Kano people.

Sheka explained that He used the occasion to KANSIEC would only identify pledge commitment to the with the lists forwarded by the completion of the ongoing government-supported APC hydropower project.

more comfort. More comfort in the sense that when you have excess seats multiplied by the number of passengers that will come, then anybody

that wants to racketeer will have to eat the tickets himself.

“I’m not an expert in that area but one thing I know is that one of the locomotives

will be dedicated to direct trip from Kaduna to Abuja non-stop, that should be doing 1:15 or 1:20 minutes non-stop.

That will enable those living in

Kaduna and working in Abuja to actually come to work on time. If you leave at 6am by 7:15, 7:20 you should be in Abuja,” he stated.

WORK HAS STARTED

R-L: Enugu State Deputy Governor, Hon. Mrs. Cecilia Ezeilo; Governor Ifeanyi Ugwuanyi; Speaker, state House of Assembly, Hon. Edward Ubosi; Chief Judge of the state, Justice Ngozi Emehelu, and others, during the New Year prayer session at the Government House, Enugu to formally usher in the commencement of work....yesterday.

Innoson Owner Drags EFCC to Court, Demands N200bn for Unlawful Imprisonment, Others Nigerian Army patronises company for military vehicles Christopher Isiguzo ÓØ ØßÑß The Chairman/Managing Director of the Innoson Vehicle Manufacturing (IVM), Chief Innocent Chukwuma, has dragged the Economic and Financial Crimes Commission (EFCC) to court, demanding N200 billion for unlawful imprisonment, malicious falsehood and defamation.

In a statement made available to THISDAY through his spokesperson, Mr. Cornel Osigwe, the automobile manufacturer said the law suit was in response to his unlawful arrest and subsequent release by the EFCC fortnight ago.

The statement indicated that Chukwuma in the lawsuit which was filed at the Enugu State High Court by Prof Joseph N Mbadugha of McCarthy Mbadugha and Co, is claiming against EFCC; N30 billion exemplary damages; N30 billion for assault and battery; N30 billion for unlawful imprisonment; N40 billion for injury to feelings-mental pains and anxiety arising from malicious falsehood and defamatory publications of the defendants against the plaintiffs; N50 billion for injury to plaintiff’s reputation arising from the said publications; N20 billion for general damages.

He also asked for an order that the published words complained of be retracted by the defendants and such retraction be published in two national newspapers including

the Punch newspapers.

The IVM owner also asked the court for an order of perpetual injunction restraining the defendant either by itself, agents, privies, and/or assigns from further maligning or otherwise defaming the plaintiffs in the words complained of or similar words and/or in other manner howsoever.

“An order that 22 per cent interest on the sums of money claimed in sub-paragraphs (a)-(f) commencing from December 20, 2017, till judgement is delivered and a post judgement interest of 22 per cent on the judgement sum till the final satisfaction of the judgement debt.

Furthermore, Innoson has set machinery in motion for a N50 billion suit against EFCC, GTBank and three others for breach of his fundamental rights.

The EFCC had claimed in a statement on its official website that the arrest of Chukwuma “followed his refusal to honour invitation by the commission having earlier jumped an administrative bail granted him in a case being investigated by the capital market and Insurance Fraud Unit of the Commission’s Lagos office.” EFCC further alleged that “the industrialist used forged documents to secure tax waivers.”

Chukwuma had maintained that “at no time did Chukwuma (Innoson) receive an invitation or was invited by the EFCC or was there any time he jumped an administrative bail granted by the EFCC.

“Innoson is a public figure and a well-known industrialist of international repute. There is no way he would be invited by the EFCC and he would ignore or refuse to honour it.

“Innoson has never had any issue or query from the EFCC of recent. The last issue Innoson had with EFCC was an invitation extended to him in 2012 based on a complaint against him by Guaranty Trust Bank (GTB). Innoson honoured this invitation and subsequently, EFCC filed a charge against him at the Lagos High Court.

“The charge was subsequently struck out. However, Innocent Chukwuma and Innoson Nigeria Limited appealed against the order striking it out on the basis that it ought to be dismissal and not striking out. The appeal no: CA/I/1330Cm/2017 is still pending at the court of appeal Lagos State. Since then, EFCC has never invited him.”

He said his ‘unlawful’ arrest and detention caused untoward injury and damages to his person, personality, reputation and loss of business interest from his prospective business partners amounting to millions of dollars.

Meanwhile, Nigerian Army yesterday formally went into partnership with Nigerian indigenous motor manufacturing company, Innoson Motors Manufacturing Company for modification of some of its equipment, local production of armoured fighting vehicles and other military hardware.

A statement by the Director

Army Public Relations, Brigadier General Sani kukasheka Usman, said this was made manifest during a meeting between the management of the company let by the Chairman, Doctor Innocent Chukwuma and the leadership of the Nigerian Army led by the Chief of Army Staff, Lieutenant General TY Buratai, at the Army Headquarters, Abuja.

In his remarks, Buratai congratulated the company for giant strides it has recorded in the production of various brands of vehicles lately. He said that the essence of the meeting was to further formalise the business relationship between the Nigerian Army and Innoson Vehicle.

The army chief recalled with delight that the Nigerian Army being patriotic and in a bid to encourage local entrepreneurs asked Innoson Motors to supply three vehicles early last year which were found to be durable and performing very well as they were employed in combat and proved to be useful, comfortable and convenient in military operations.

Based on that, the army acquired over 70 more variants of the Innoson vehicles which were deployed in the Northeast for Operation Lafiya Dole.

He further stated that the army desires to deepens its cooperation by partnering Innoson Vehicle Manufacturing Company Limited to conceptualise, design, modify and produce military hardware.

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T H I S D AY WEDNESDAY JANUARY 3, 2018

T H I S D AY WEDNESDAY JANUARY 3, 2018

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T H I S D AY Ëž Ëœ ÍąËœ 2018

COMMENT

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

SYMBOLISM AND CHALLENGES OF GOVERNANCE African leaders could do more for their people than mere exhibitionism, writes Okello Oculi

I

n 1560, Queen Elizabeth 1 was so thrilled at the prospect of John Hawkins bringing her huge quantities of gold and silver from seizing Africans from West Africa and selling them as slave labour to Spanish mine-owners in the Americas.

She named a ship for hid voyage as ‘JESUS’’. Hawkins was later made a ‘’Knight’’ for glorious service to Her Majesty.

That report is by a Guyanese historian, Walter Rodney, who was assassinated with a bomb hidden inside a transistor radio.

We can compare Queen Elizabeth 1’s reaction to that of the mother of Chioma Ajunwua whispering: ‘JESUS, JESUS OF NAZARETH’’, into her hands as her daughter swayed back and forth and ran to take that historic jump that won her, and Nigeria, an Olympic gold medal.

Both women were equal before a divine force that controls forces that impact on human and terrestrial affairs. For the British monarch wealth would come to her and England’s economy if Jesus calmed hazards in a vast ocean – including armed robbery/ ‘’piracy’’ and violent death in Africa. For the Nigerian mother, pride in a daughter, was mixed with a vague sense of service to Nigeria’s nationhood, and possible monetary gain. In each case ‘’Jesus’’ was a symbol; and answerer of hope. He was urged to ignore pains of those who would be victims and losers.

The Black African Pharaohs of Ancient Egypt invented the ‘NATIONAL FLAG’’ as a tool for tapping approvals from ‘’RA’’ –the Sun God’’ – for guidance to rulers here on earth to serve ‘’justice’ or the welfare of society. The flag flapped in the wind as if waving at the Sun as it travelled across sky from dawn to dusk.

Down the centuries, the flag as a symbol of a nation at prayer for good governance, success in collective efforts, security, peace and welfare of the people, has become universal. However, Pharaohs waged war and colonised peoples along the Mediterranean Sea. Genocide against aboriginal peoples from Canada to Chile; from Chad to Namibia; Manchuria and Australia to Vietnam, have been carried out in the service of national flags.

In 1987, Madam Maria Fanfani invited writers from most regions of Africa. After handshakes with the Pope – a man from Democratic Republic of Congo dropped to his knees to enjoy a papal hand on his head – we walked in the clothing section of the Vatican. I was dazed by the rich embroidery of robes worn by men with holy bodies: priests, bishops and cardinals. In the history of Italy, Popes once ruled over vast territories. The pomp we were seeing was part of political memories. Subsequently, Pope Francis rebelled against this regal textile forest by dressing with a simple robe at his first encounter with the audience in St Peter’s Square. He was returning to the symbol of Jesus as a man for service to ordinary followers.

IT IS WORTH NOTING THAT THE CLASH BETWEEN THE OPULENCE OF SYMBOLS OF POLITICAL, SOCIAL AND ECONOMIC POWER, ON THE ONE HAND AND A VAST ARMY OF UNEMPLOYED YOUTHS HAS PROVOKED KIDNAPPINGS OF EITHER OFFICIALS OR MEMBERS OF THEIR FAMILIES – TO BE BOUGHT BACK WITH MILLIONS OF NAIRA

This matter of material symbols of authority and power has been handled with extremes across Africa. “Emperor Bedel Bokasa in Central African Republic moved from a drab military uniform to sitting on a ‘’throne’’ of gold; dressed in a onemile- long gown (said his furious critics), and wearing a crown sparkling with diamonds and sapphires. At the opposite end were Mwalimu Nyerere and Mallam Aminu Kano with simple attires. Mobutu Sese Seko adopted Nyerere’s ‘’safari suit’’: adding a leopard skin on a cap atop his head and a magic-drenched walking stick.

Like the textile culture in the Vatican, ‘’feudal’’ textile models are struggling with ‘’democracy attires’’. In the film ‘’MY FAIR LADY,’’ the director hints at Bernard Shaw’s mockery of the pretensions of the British aristocracy by making Mr Doolittle – the father of the street girl whose English accent has climbed from the gutter to “ladyship’’ – pull out his dirty handkerchief and wipe off ‘’dirt’’ from a chair in Professor Higgins’s living room. African leaders damned colonialists but rode to Independence Day Celebration ceremonies in Rolls-Royce vehicles; and attend rotating OAU and African Union summits hidden inside gleaming Mercedes Benz limousines. The primary school teacher’s bicycle lost the symbolism contest.

The so-called ‘’development partners’’ have gladly joined this glamour game. Loans for projects are tied to imports of grand jeeps, with their costs deducted before and cash arrives.

Resourceful Nigerian journalists owe Nigerians photographs of forests of jeeps and private jets that assemble at: meetings of leaders of political parties; weddings, religious or secular ceremonies and ‘’events’’. Symbols of political and socioeconomic power frighten away the ‘’talakawa’’.

It is worth noting that the clash between the opulence of symbols of political, social and economic power, on the one hand and a vast army of unemployed youths has provoked kidnappings of either officials or members of their families – to be bought back with millions of naira.

Rodney noted that it was differences in levels of production of technology, machinery and agriculture in favour of Europe that enable her people invade Africa profitably. Current symbols of power across Africa, however, put emphasis on textiles and other consumption items. In the 1936 World Trade Fare the majority of patents for scientific inventions exhibited by Britain were held by her aristocrats. Africa’s legislators should build science laboratories in their garages; produce inventions; support daring visions by youth inventors, and tap palm wine on slopes of Kilimanjaro.

THE STATE OF THE NHIS

Yahaya Jibrin argues that there is much to learn from the tenure of Dogo Muhammad

T

he National Health Insurance Scheme (NHIS) has been in the news of late for negative reasons. So much so that one is forced to ask if the NHIS is jinxed.

The history of the NHIS is replete with tales, tales by moonlight if you like.

I am somewhat confused if you ask me because it appears something is fundamentally wrong somewhere.

I won’t bore you with how the NHIS came into existence by the Olusegun Obasanjo administration with Prof Eyitayo Lambo as minister of health. But I recall vividly when Prof Eyitayo Lambo declared on the launch of the NHIS on June 6, 2005 that by 2025, Nigeria would have attained universal health coverage. But former President Olusegun Obasanjo who was in attendance interjected by saying instead of 2025, Nigeria would achieve universal health coverage by 2015.

Let us do some mathematics. 2017 minus 2005 equals 12. It means the NHIS has been in existence in the last 12 years with only about 4% health coverage. While countries like Ghana and Rwanda that at some point had to understudy our NHIS has achieved over 50% universal health coverage.

Doesn’t this call for concern? In an interview granted by Prof Eyitayo Lambo, earlier this year, he said: “Before we handed over in 2007, we got some level of coverage of about 7 per cent, but 12 years after, the country is below 5 per cent coverage.

Having birthed that baby, I feel despondent today�.

The question is at what point did we make the wrong turn? While I won’t spare the current administration, I would say that turn was taken by the Goodluck Jonathan administration and the Buhari administration revved dangerously on that road with the choice of the suspended Prof Usman Yusuf. That is another topic entirely. As a start, the issue of high turnover of chief executives is one major factor. Without mincing words, I would say the NHIS stopped breathing the moment Dr. Dogo Muhammad was shown the exit in 2012, not on the strength of non-performance but for reasons

best known to Goodluck Jonathan and his cohort.

The current Minister of Education, Mallam Adamu Adamu, then a columnist with one of the leading newspapers wrote a brilliant article titled, “For Want of a Godfather.� In the said article he lamented and equally lambasted former President Jonathan for the way and manner Dr. Dogo Muhammad was shown the exit. Hear him: “A highly qualified British-trained surgeon and a Fellow of the Royal College of Surgeons, Dr. Dogo Muhammad had had an eventful tenure at the NHIS full of awards.

The International Social Security Association gave Dogo-Muhammad’s NHIS/MDG Maternal and Child Health Project a Merit Award at an international get-together in Arusha Tanzania on December 6, 2011, and declared it as the best example of best practice worthy of emulation by other African countries. This award has been posted

by President Jonathan on his Facebook as one of the achievements of his administration.� “After launching Dr. Dogo-Muhammad’s Community-Based Social Health Insurance Programme in Isanlu, Kogi State, on December 17, 2011, President Jonathan was so impressed that he posted it on his ‘Neighbour 2 Neighbour’ social forum; and it is today recognised as one of the four notable achievements of the Federal Ministry of Health. “At the end of Dr Dogo-Muhammad’s first tenure, the Minister of Health, Professor C. Onyebuchi Chukwu, assessed his stewardship as Executive Secretary of the NHIS, scored his performance as excellent and recommended the renewal of his second and final tenure of five years to President Goodluck Jonathan, in line with the provision of the NHIS Act. But here the president’s commitment to merit seemed to have suddenly vanished into thin air, and he directed that the vacancy is advertised.

Yet, on the very day the president declined to approve Dr. Dogo-Muhammad’s reappointment, he approved the reappointment of the Chief Medical Director of Gwagwalada Specialist Hospital, and subsequently went on to approve the reappoint-

ments to the second tenure of the director general of the Administrative Staff College of Nigeria (ASCON) and the executive secretary of the Joint Admissions and Matriculation Board (JAMB) without asking that these vacancies be advertised.�

I guess you are perplexed. Amongst the numerous things Dr. Dogo Muhammad did at the NHIS, three things were outstanding. One was that during his tenure, NHIS was free from scandals unlike now, where all the past chief executives were somewhat given office spaces in the EFCC due to one scandal or the other. The second was that he grew the number of enrollees from 450,000 in 2006 to 5.6 million in 2012, unlike now that the figure has been depleted. The third was that he also increased the purse of NHIS from N12 billion to N94.8 billion.

Those in the know of things then said “Dogo won’t spend money if it is not for the growth of the scheme� and that was why he was able to build the NHIS to enviable heights.

And now, let me shock you all. Since Dr. Dogo Muhammad left, the NHIS has had five executive secretaries within the space of five years. And none of them could equal or build on his record at least.

Yes, that is the truth. While I must state that this piece is not about Dr. Dogo Muhammad, instead it is an exposition of how not to govern a country.

In the case of Goodluck Jonathan, this was an agency that was recording progress on all fronts and assiduously working towards universal health coverage, but that didn’t mean anything to him. Instead, he brought in a politician to head the NHIS and in a year or so, the politician messed up the place that he was also asked to leave. And what was the implication? Successes recorded began crumbling. Another individual acted as chief executive for one year, and in truth, not much was expected from him because he was clueless about the dynamics of healthcare financing. The only visible thing about the tenure was that the chap was everywhere lobbying to be made substantive executive secretary. Mind you, the enrollee’s figure was dropping, as well as the purse of the NHIS, through lack of policy direction on the

one hand and spurious contracts on the other hand.

Then, enter President Muhammadu Buhari. One had thought that he would have taken an interest in the NHIS since it was going to be an avenue for his administration to score some points, but instead, he brought in a supposed professor of oncology and paediatrics. This chap spent less than a year in the saddle, and the highlight of his tenure was that he was not afraid to spend money, since according to him; he has the mandate of the president. But I am not sure if part of the mandate were arrogance and financial recklessness. I hear that his excesses at the NHIS were phenomenal and that was why he was suspended and investigated. I also learned that he is scheming to return despite the fact that he ran NHIS aground in less than one year. Wonders shall never end in this country.

Now, how can the NHIS impasse be resolved? In my considered opinion, if we have a government that is serious about affecting the lives of the ordinary Nigerians on whose mandate they came to power, the choice of chief executive for an agency as critical as NHIS ought to have been a product of extensive consultation and research. For example, I imagine a situation where the question would be asked on the tenure of all former chief executives, on how each of them fared regarding achieving the mandate of the NHIS. I would also imagine the government seeking out Dr. Dogo Muhammad to know what it was that made him succeed at the NHIS. I know in some quarters, meaning would be ascribed to this piece, but in truth, I care less. But one thing that can’t be denied is that NHIS died the moment Dr. Dogo Muhammad was asked to leave.

I stand to be corrected. Under Dogo, the NHIS introduced the Community-Based Social Health Insurance Programme (CBSHIP), it also launched the Voluntary-Contributors Health Insurance Programme (VCSHIP), the Tertiary Institutions Social Health Insurance Programme (TISHIP), the Retiree Social Health Insurance Programme (RSHIP), and much more too numerous to mention.

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T H I S D AY Ëž Ëœ ÍąËœ 2018

EDITORIAL MOROCCO AND THE ECOWAS BID Nigeria’s national interest should determine our position

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n November 9, 2017, the House of Representatives organised a public hearing on the question of Morocco’s admission-in-principle into the Economic Community of West African States (ECOWAS).

This was against the background of Nigeria’s admission of its support for the return of Morocco to the African Union at the January 2017 meeting in Addis Ababa under the cover of “African integration�. But there was much ambiguity about Nigeria’s willingness to follow through and encourage Morocco’s membership of ECOWAS. There had also been so much opacity with Nigeria even claiming that it had no proper record of international treaties it had entered into.

However, public opinion and the people’s buy-in are both critical to the legitimacy of decisions taken on their behalf by either governments or regional bodies seeking cooperation, collaboration and integration. Whatever may therefore be the interest of heads of government, it is important to structure public opinion appropriately to ensure the legitimacy of outcomes in line with the ECOWAS mandate and objectives. Beyond THE IDEA SHOULD this, the overriding BE SUBJECTED TO A objective is to defend NATIONAL DEBATE SO Nigeria’s strategic THAT A MORE RATIONAL interest as distinct from DECISION CAN BE emotive nationalism TAKEN ON THE BASIS OF and chauvinism.

ENLIGHTENED INTEREST It is in that context RATHER THAN ON that we should examine EMOTIONS the arguments against Morocco’s bid for the membership of ECOWAS. Some have argued that Morocco is seeking to beneďŹ t from both the Arab League and ECOWAS at the same time and that this will reduce Nigeria’s inuence within the sub-region. Others canvass the extreme view that if Morocco joins ECOWAS, “Nigeria will disintegrate.â€? Members of the House of Representatives resolved that if admitted into ECOWAS, Morocco, which enjoys a non-tariff economic partnership with the European Union (EU) will ood West Africa with European goods

Letters to the Editor

and pose a threat to the Nigerian economy. Groups such as the Nigerian Movement for the Liberation of Western Sahara, the Society for International Relations Awareness (SIRA) and other opinion leaders have also raised issues about geographical contiguity.

Unfortunately, in all these disparate positions, pertinent questions remain: How serious is the threat allegedly posed

by Morocco to Nigeria’s strategic inuence in the ECOWAS sub-region? If African countries are expected to end up in African economic integration, how does the Morocco bid negate such aspiration? What are the real implications (political, economic and otherwise) of Morocco’s membership of ECOWAS for Nigeria?

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

DOES PAUL POGBA KNOW?

T

he most recognisable Muslim football player nowadays in the English Premier League is Paul Pogba of Manchester United Football Club (Man U). Hardly any Man U match kicks off without Pogba getting captured on camera saying some longish Islamic prayer, but this Paul was raised a Roman Catholic. At what point and what spurred him to convert to Islam is still a mystery to a lot of us but the conversion itself by a Catholic to Islam is still a greater mystery. This mystery is truly great because it is not the norm that Catholic boys embrace Islam for the “light� that has shone on them.

It is the issue surrounding the idea of an enlightenment that makes it so difficult for Catholics to convert to Islam in the first place. The crusades were truly initiated by Catholics because of this “enlightenment� and to this day every Catholic who has had instruction in the Church’s catechism knows in the depth of his or her heart that a great anti-matter haunts the Church but Catholics are not a people to go out there and brag that “our faith is the best.� What Catholics do is pray so that the true God will beget the true light and mankind shall be redeemed in the end. What Paul Pogba does not know is that Catholic boys do not convert to Islam because of an anti-matter involving the Annunciation to the effect that Angel Gabriel who was the harbinger of this Annunciation would contradict himself some 600 years later by appearing in Mecca as Mailaka Jibril and doing a totally different

he argument that Morocco’s opposition to selfdetermination in Western Sahara amounts to a disqualiďŹ cation fails to take into consideration the fact that confronted with similar threats, the responses of other African countries including Nigeria, have not been dissimilar to that of Morocco. Raising the banner of this argument is therefore self-serving and inconsistent. And what that suggests is that the reactions to the proposed Moroccan membership of ECOWAS suffer from a poverty of the contemplation of the long term perspective of the place of Nigeria within both the sub-region and the continent at large.

However, before any action can be taken for or against the bid by Morocco to join ECOWAS and what the position of Nigeria should be, public opinion needs to be well clariďŹ ed to ensure effective buy-in and prevent a backlash such as has been seen with Nigeria’s continued membership of the Organisation of Islamic Countries (OIC) and the D-8 Organisation for Economic Cooperation. Indeed, it is within that context that we understand the fears of those who look at the Morocco bid from the prism of local politics. But what is ignored is that the expansion of the sub-regional body beyond the West-Africa geographical does not in any way impinge on our national interest.

All factors considered, we believe that instead of adopting a knee-jerk reaction, the idea should be subjected to a national debate so that a more rational decision can be taken on the basis of enlightened interest rather than on emotions.

announcement. Catholics do not say this out in the open but they contemplate on the reason why anyone would conceive an idea to counter the Annunciation and they continually pray that the world shall see the true light.

One of the highpoints of Christianity is Palm Sunday that commemorates Jesus Christ’s triumphant entry into Jerusalem in a humble fashion on a donkey back as a flesh being. Catholics are not at all comfortable with the story that some 600 years later the founding pillar of a religion that is the anti-matter of Christianity laid claims to nightly journeys to Jerusalem in mystical forms. This is troubling to Christians all over the world. One highpoint of Christianity also is the Ascension; in fact, in Western countries the belief in the Ascension has raised doubts in the minds of liberal academics who bear “Christian� first names. Anyway, what is the whole point of being a Christian if one does not believe in the Ascension of Jesus Christ into heaven in flesh and that He would return again to judge the living and the dead? Thus, it is tripling troubling for Catholics, young and old, if another religion preaches that their protagonist ascended to heaven also from Jerusalem of all places; when did these mystical, ethereal night journeys become real? These troubling ruminations surely gave impetus to the crusades but Catholics have resolved that prayers and education would enlighten the world.

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

PRINCE HARRY, MEGHAN AND AFRICA Prince Harry falls in love with a person of African ancestry - so what?

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rince Harry is to marry Meghan Markle and many people think it marks some kind of breakthrough or major step for the British Royal Family. There was even an article in THISDAY suggesting that Meghan would represent a major step for the British Royal Family.

Actually the British Royal Family has plenty of African blood from many generations.

However to focus on more recent history: the family of Philip, Duke of Edinburgh, the husband of the Queen and father of Prince Charles has African ancestry. George Battenberg, the uncle of Philip, married Nadejda Torby, the descendant of Alexander Pushkin. Pushkin, Russia’s greatest poet, was a descendent of an African of noble parentage and later a protege of Tsar Peter the Great called Abram Gannibal. When they married the British gutter press fantasised that the British Royal Family would soon produce Black babies!

The Pushkin descendants apart from the Royal family include Hugh Grosvenor, Duke of Westminster, one of the richest aristocrats in Britain, whose father married Natalya Ayesha in 1978.

The Grosvenor family wealth is in billions. Even more recently in 1999 Joy Elias Rilwan (yes, a Nigerian!) married James Lascelles, 57th in line to the throne.

Why should anyone be surprised? Huge chunks of Western culture have an African ancestry from ancient Egypt, and African royals have been around Europe for centuries as have large populations of Africans. Apart from Pushkin, Beethoven, Alexandre Dumas, many other famous artists had African ancestry. In Alexandre Dumas case his grandfather, a French aristocrat, fell in love with his mother and paid exorbitantly for her freedom. He returned to France to claim his inheritance but before he could bring his love to France Napoleon banned Africans from France. Dumas pere became a great general in Napoleon’s army and his son Alexandre, became the author of Three Musketeers and the toast of Paris.

But does any of this really matter? Does any of this affect the price of yam in Lagos? So I say it is good to get one’s history right, but other than that - so what if Prince Harry marries Meghan Markle.

Dapo Ladimeji, editor - african -century.org

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T H I S D AY WEDNESDAY JANUARY 3, 2018

T H I S D AY WEDNESDAY JANUARY 3, 2018

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T H I S D AY ˾ WEDNESDAY, JANUARY 3, 2018

18

MIDWEEKPOLITICS

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

NEWSMAKERS

Can Amosun Determine His Successor?

At every public gathering, Ogun State governor, IbikunleAmosun does not miss the opportunity to tell his audience that he will handover power to a governor-elect from Ogun West Senatorial District. Femi Ogbonnikan wonders if the governor has the power to ensure that his candidate wins the governorship election

N

owadays, little premium is placed on the concept of internal democracy. To many lovers of the concept, internal democracy has long died a natural death. No thanks to the overbearing tendency of sitting governors.

In order to cover their track when they leave office, incumbent governors often try as much as possible to install a successor. While some succeed, others fail. A former governor of Delta State, Dr Emmanuel Uduaghan tried to influence the choice of his successor and failed whereas a former Akwa Ibom governor, Godswill Akpabio succeeded.

In their bids to anoint and install a successor, governors often throw decorum overboard. They also abandon internal democracy. Today, some members of the Peoples Democratic Party agree that the party lost the 2015 general elections partly because it disregarded its own constitution and paid little or no regards to internal democracy.

Thus, the aftermath of the absolute power exercise by governors is that many of them have come to believe that that they have absolute power to control and impose their surrogates as successors with consequential loss of internal democracy.

For instance, the immediate past PDP-led administration of ex-President Ebele Goodluck Jonathan suffered the same fate. The PDP was at the receiving end of candidates imposition, breeding acrimonious rivalry, and without recourse to the party’s primaries. The aftermath, the centre could no longer hold, internal democracy was thrown to the wind, thereby witnessing mass exodus of party stalwarts, defecting to the beautiful bride of the time, APC, in droves.

Narrowing it down to Ogun State, the path to self-destruct beckons unless urgent steps are taken to prevent the situation from degenerating.

The state governor has been carrying on as if he has an absolute power to produce a governor for the state.

If he is a good student of history, the governor should not have difficulty remembering that it was the decision of his predecessor, Gbenga Daniel to ensure his favoured candidate emerge as his successor that was partly responsible for him (Amosun) to emerge governor.

Amosun had announced his opposition to the most popular aspirant from Ogun West, Senator Olamilekan Adeola even though the governor said he supported the district to produce the next governor.

To lend credence to the scorn the governor has for the Lagos West Senator, at a recent parley with Ogun West Elders Council and Yewa Think-Tank group that visited him at his Okemosan Office, Abeokuta, to protest the endorsement of Adeola as the Ogun West APC consensus candidate by the Ogun West Elders Forum (OGWEF), Amosun said no “foreigner” would be allowed to emerge as governor of the state under his watch.

Though the governor said any bonafide indigene but not based in the state, could be considered for the number one position, he however, vowed that he would use resources at his disposal to thwart efforts to hijack the state by outsiders.

Amosun noted that the state has been held under siege by a ‘foreigner’ who served as a governor and urged the indigenes of the state to work against anyone whose origin cannot be ascertained, to hijack the state.

Even though, Amosun described Adeola as a foreigner because he is coming from Lagos to seek election as governor of Ogun State, many in the state do not share the his sentiment. The generality of the people of Ogun State appear to

Amosun

prefer the stranger and are flocking round him.

Sooner than latter, Amosun, who himself as become unpopular among the people, risks isolating himself further as long as he maintains his opposition to Adeola’s ambition.

Chief Bode Mustapha, an APC chieftain from Egbaland and an apostle of power shift to Ogun West, in a recent interview with THISDAY, has warned Gov Ibikunle Amosun of dire consequences in meddling over who succeeds him in office. He admonished Mr Governor to learn a big lesson from his immediate predecessor, Otunba Gbenga Daniel, who eventually lost out while in his bid to foist Prince Gboyega Nasir Isiaka (aka GNI) against the collective popular decision of the PDP in the state, and heed the popular demand for an internal democracy to prevail in choosing his successor from Yewa/ Aworiland.

“Let us face it. When APC was coming, the mantra at that time was “Any Other But Jonathan” (AOBJ), but that had come and gone. Now, the PDP is trying to put its house in order. Now, APC is beginning to make the same mistake that PDP made. I was privileged to know this because by the grace of God, I was the first person from Ogun State to be a member of the National Working Committee (NWC) of the then, largest party in Africa that was ruling this country. And at that time, the governors thought that they were invincible and infallible.

They were thinking that it was about them, they were imposing people. Internal democracy was thrown to the dogs and immediately that thing started happening, danger signals were there.

APC should not fall into the same pit or trap that PDP fell into. That is why, I believe that again, in Nigeria, we should stop exercising, celebrat-

The state governor has been carrying on as if he has an absolute power to produce a governor for the state

ing people but we should start to strengthen institutions. There is a party, strengthening the party, open the doors for the party for people who wish to join the party, who believe in the party, take the party back to the people, not about imposition. Let the people choose who to represent them, whether as councillors or as House of Assembly member or House of Representatives member or senators or as governors or as president. Because in Nigeria now, we are not in Nigeria of about 20 or 30 or 40 years ago. Today, people would vote for individuals in this country. I see many people who would say to me, in that Ogun State, I don’t care what it is, I am going to vote for Mr X, Y, Z. I have seen people who have told me, who are not politicians, talking to me, that they would vote for the same person each of them have been mentioning. Now, they are going to vote for individuals and if we don’t get it right, you would just make mockery of the so-called party. So, I think that the party should be given back to the people and in the process, let the strengthening of that institution begin or emerge or run at the grass root level, all to the Presidency and then, we would get a good candidate. Of course, that candidate could be supported by the incumbent, based on many factors that we would take into consideration”, declared Mustapha.

In the absence of internal democracy, Mustapha, a former National Auditor of the PDP, disclosed it was the over-bearing influence of the chieftains that knelt the death of the party.

“That was what killed PDP, lack of internal democracy. That was why you had governors of PDP who were sitting governors who ran for the National Assembly seats and lost. We had Babangida Aliyu, he ran, he lost; we had Jolly Nyame, he ran, he lost; we had Suswan, he ran, he lost. Because they imposed themselves on the people. Unfortunately APC is following the same path at the moment and I hope, it is not going to be a self-destruct path”, warned Mustapha.

Besides, Mustapha who is an erstwhile legislator that represented Abeokuta North/

Odeda/Obafemi-Owode Federal Constituency on the platform of the Alliance for Democracy (AD), between 1999 and 2003, further urged the incumbent governor to exercise caution in picking his anointed candidate.

“Well, as far as I am concerned, I have said it and I have made it abundantly clear, that there are many, many people who want to join APC today, in many states of Nigeria, and Ogun State in particular. People have come to me, to say, sorry, we are not talking about APC, we like APC, we are only associating with the candidates because we are not wanted in APC. And that is a danger signal. Now, I was privileged to be part of PDP, that lost the election in 2011 to ACN in this state. And quote me, that I, Bode Mustapha, went to the governor at that time, the sitting governor and he is alive, Otunba Gbenga Daniel, and I said to him, “don’t play this card of fragmentation”. And I told him to his face, that if you play this card, that the best your PPN would get, would be third position, PDP would come second and ACN would win this election. And after this election, they would maltreat you and it came to pass. I hope, we are not going to allow that happens in APC. People want to join the party, the door of the party should now be opened to everybody, and I am saying it emphatically, let people join this party, open the party and when people join the party everybody who has an ambition, let him sell himself to the members of the party and let the best be chosen by members of the party, and not by any individual or group of people”, he concluded.

Adeola, who currently represents Lagos West at the Senate, in a recent interview with THISDAY, has also advised his compatriots from Ogun West not to wait for anyone to make them governor.

He said: “The good people of Ogun West should sit back and be sure of what they want.

If we are waiting on somebody to give us the governorship ticket then, we are not ready to become the governor. Because nobody, nobody I repeat, gave the Egbas. Nobody handed over Chief Gbenga Daniel to the Remo people that, this is their governor. Nobody handed over Chief Bisi Onabanjo to the Ijebus that he was their governor. Nobody handed over Sen Ibikunle Amosun to the Egbas that he is their governor.

Nobody handed over Chief Olusegun Osoba to the Egbas that he was their governor. So, why do they want to hand over somebody to the Yewa people or to the Ogun West people that, this is your governor?

“Yes, the good people of Ogun West want to produce the governor, come 2019 but we will need to get our acts together. We need to be more focused and dedicated more than ever before because this is our time. And for it not to slip from our hands, all hands must be on deck. We must thank those supporting us, including Chief Olusegun Obasanjo, Chief Olusegun Osoba, Senator Ibikunle Amosun and others, But the fact still remains, that the governor should not force any aspirant on us in Ogun West. He should allow the Ogun West people to decide who becomes their own governor. We don’t want a governor that will be remote-controlled. We don’t want a governor that will be looked after like a baby and be spoon-fed like a baby. We don’t want a governor that will not be independent–minded to carry out programmes, policies and objectives that will be state-driven. We don’t want a governor that will stay in office and will not ensure fair equitable distribution of the state’s resources across all the local governments. If we crave to be governor, we must put our best hands forward, because at the end of the day, you are not going to be governor of Ogun West but the governor of Ogun State”, said Adeola.

T H I S D AY ˾ WEDNESDAY, JANUARY 3, 2018

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PERSPECTIVE

MIDWEEKPOLITICS

A Catalogue of Gaffes President Muhammadu Buhari continues to make avoidable blunders thereby lending credence to allegation that he is ill-prepared for governance, reports Tobi Soniyi

T

he latest blunder by President Muhammadu Buhari in appointing dead people as members of boards of parastatals is a continuation of a weakness in his government which manifested at the beginning of his tenure as president.

Since he took over power in 2015, it has been one mistake or the other. Yet, all the mistakes are avoidable.

When he was inaugurated as president in May 29, 2015, many expected the president to hit the ground running immediately.

Because the blunder keeps re-occurring, many have come to conclude that there is lack of capacity in the government. This has not only lent credence to the allegation that neither him nor his political party, the All Progressives Congress was prepared for governance.

It took him not less than six months before he could finally appoint ministers. That period was enough for business to take a flight since no one knew in which direction the president would go.

At the beginning of this administration, two weaknesses became quite clear: first, the president did not have patience for due process and secondly, there was lack of competent hands to properly advise the president on basic bureaucratic process. The result is the unprecedented number of gaffes the president keeps making.

Before appointing ministers, the president made some appointments and directed the appointees to resume immediately even when such appointments must be ratified by the Senate before they could be valid and before the appointees could resume. In their letters of appointment, the appointees were directed to resume immediately.

Such appointments weRe Mr. Babatunde Fowler, who was appointed the Executive Buhari Chairman of the Federal Inland Revenue Service (FIRS); Mr. Ahmed Kuru, who was three months, Buhari returned to Nigeria in named the new Managing Director/CEO of August 2017. Before he could transmit to the the Asset Management Corporation of Nigeria President of the Senate, Dr. Bukola Saraki and (AMCON); Mr. Kola Ayeye, Ms. Eberechukwu the Speaker of the House of Representatives, Uneze and Mr. Aminu Ismail, who were named Yakubu Dogara, a written declaration of his executive directors of AMCON; and Professor resumption to enable the Acting President to Umaru Danbatta, who was nominated as the stop performing his functions, he addressed Executive Vice-Chairman of the Nigerian the nation as president.

Communications Commission (NCC).

Section 145 of the 1999 Constitution as In accordance with their letters of appointment, amended provides: “Whenever the President they all resumed at their respective offices, a transmits to the President of the Senate and development that angered the Senate. The the Speaker of the House of Representatives senators considered their action a deliberate a written declaration that he is proceeding attempt to disrespect constituted legislative on vacation or that he is otherwise unable to authority. Some senators then expressed the discharge the functions of his office, until he view that those who resumed without Senate’s transmits to them a written declaration to the confirmation had automatically disqualified contrary such functions shall be discharged by themselves for acting unconstitutionally and the Vice-President as Acting President.” illegally in capacities clearly defined by law.

There is no reason, the broadcast could not The removal of the Director General of the come after he had complied with the constitution.

National Pension Commission, Mrs Mrs. Chinelo The president’s action was inexcusable.

Anohu-Amazu which was done in violation of The Presidency created another avoidable the Pension Reforms Act was another avoidable controversy with the appointment of the board blunder. It can only happen in a government of the Niger Delta Development Commission. that has no regard for the rule of law.

Section 4 of the Niger Delta Development Section 21 (1)(a)-(j), especially (j), which Commission (NDDC) (Establishment) Act provides that a person shall seize to be a 2000 provides that the office of the chairman member of the PenCom board if “The President shall rotate amongst member states of the is satisfied that it is not in the interest of the commission in alphabetical order. Thus, the Commission or public for the person to continue chairmanship, which started with Abia has in office and notifies the member in writing rotated up to Cross-River currently. to that effect”.

Section 12 of the Act provides that: “There Under her watch, the pension fund grew from N2.9 trillion to N6.5 trillion in less than three years, her sudden removal from office could not be said to be in public interest.

Also, while Section 21(2) of PRA 2014 provides that “In the event of a vacancy, the President shall appoint a replacement from the geo-political zone of the immediate past member that vacated office to complete the remaining tenure”, the presidency appointed Aliyu Dikko from Kaduna State, North West, May be it is high time the as a replacement for Anohu-Amazu, who hails from Anambra State in the South East president appointed a geo-political zone. special assistant on due After staying in London for a little more than

process and compliance

shall be for the commission, a managing director, and two executive directors who shall be indigenes of oil producing areas starting with the member states of the commission with the highest production quantum oil and shall rotate amongst member states in order of production”.

Section 5(2) of the NDDC Act provides: “Where a vacancy occurs in the membership of the board, it shall be filled by the appointment of a successor to hold office for the remainder of the term of office of his predecessor, so however, that the successor shall represent the same interest and shall be appointed by the president, subject to the confirmation of the Senate, in consultation with the House of Representatives.”

Mrs. Ibim Seminatari, former Commissioner for Information in Rivers could not become a substantive Managing Director (MD) of the NDDC for this reason. She acted briefly to complete Rivers State’s tenure and made way for the former Deputy Governor of Akwa Ibom State, Nsima Ekere. Also, Senator Ndoma Egba (Cross River) was appointed to serve out the tenure of Senator Bassey-Ewa Henshaw (Cross River), who was removed along with other board members in 2015 before the end of his tenure in December 2017.

It is in line with this Act that the former Secretary to the Government of the Federation (SGF), Babachir Lawal, made it clear, for instance, in Ekere’s appointment letter dated 1st November 2016, (referenced SGF.55/S.2/C.3/ IV/52), that “The appointment took effect from November 1, 2016 and you are to serve out the remainder of the term of office of your predecessor in line with Section 5(2) of the (NDDC) Act”.

Yet, in sheer absurdity, the same Presidency vide a letter dated 16th October 2017 (referenced SGF.55/S.2/C.3/IV/168) and signed by the former Acting SGF, Dr. Habiba Lawal, renewed the appointment of the NDDC Board for another four-year term in clear breach of the NDDC Act. Recall that the nominations of Maimuna Aliyu and Sa’ad Alanmu as members of the board of the Independent Corrupt Practices and Other Related Offences Commission were

withdrawn after it was revealed that the same commission was investigating them.

When Nigerians thought they had seen enough gaffes, the president dished out another surprise by appointing about dead men into boards of parastatals.

Francis Okpozo, who died in 2016, was appointed chairman of the Nigerian Press Council.

Ironically, when he died, the president in a statement by his spokesperson, Femi Adesina, commiserated with “the family and friends of the late senator, whose championing of social justice in the Niger Delta, during his long history of service to the people, endeared him to many.”

Also Donald Ugbaja, a late former deputy inspector general of police, who died a few weeks ago was appointed a board member of the Consumer Protection Council.

A third person, Christopher Utov, was appointed board member of the Nigerian Institute of Social and Economic Research. He is believed to be the same person as a Catholic priest from Benue State who died on March 18.

Since the president has chosen to retain some of the incompetent hands working with him, expect more gaffes in the new year.

Before appointments are made, the Department of State Security Services usually screens nominees to determine their suitability for the roles the president wants to assign to them.

This perhaps explains why the DSS came up with a report on the Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu.

Why was the DSS not asked to screen these nominees? Or were they screened? There is obvious lack of capacity to do the simplest work of government, which is to make appointments.

If our government can not perform this simple task competently, why should anyone trust those in power to handle more complex tasks competently?

May be it is high time the president appointed a special assistant on due process and compliance. Enough of these gaffes. Enough of embarrassment.

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

A Christmas Party to Remember During the yuletide season, hundreds of widows and orphans converged on Yaba to attend a party organised by a nonprofit group.

Solomon Elusoji, who was there, writes that the party was only a footnote

Wife of Lagos State governor, Mrs. Bolanle Ambode (4th left) and Mrs. Folorunso Alakija (5th right), others cutting cake at the Christmas party organised by the Rose of Sharon Foundation for widows and orphans held at Yaba College of Technology, Lagos...recently

E

very year, the Rose of Sharon Foundation, a nonprofit organisation devoted to the welfare of widows and orphans, organises a Christmas party for its beneficiaries in Lagos.

Usually held on an open field inside the premises of the Yaba College of Technology, the widows and orphans come out in identical, colourful ankara prints. They present cultural performances, dance, make merriment with food and drinks, and are treated to a bouquet of academic and professional scholarships sponsored by the foundation’s founder, Mrs. Folorunso Alakija, one of the richest women on earth.

Last year’s edition of the Christmas party, which was headlined by the First Lady of Lagos, Mrs. Bolanle Ambode and Alakija, was no different. Defying a tepid sun, the duo, seated under a canopy watched performances after performances – poetry recitations, cultural dances – before proceeding towards an exhibition stand where Rose of Sharon widows displayed the works of their hands. There were also Christmas hampers for sale.

Mrs. Ambode, who charged Nigerians to use the festive season to reach out and show love by giving and sharing with others, encouraged the widows and orphans to put their trust in God, noting that when all hope seems lost and help too far away,

He will suddenly appear and meet their needs as their Husband and Father. The First Lady of Lagos, who is the Grand

Mrs.Bolanle Ambode, who charged Nigerians to use the festive season to reach out and show love by giving and sharing with others, encouraged the widows and orphans to put their trust in God, noting that when all hope seems lost and help too far away, He will suddenly appear and meet their needs as their Husband and Father.

The First Lady of Lagos, who is the Grand Matron of the foundation, also commended the foundation for its relentless efforts to improve the conditions of the widows, their children and orphans in all ramiďŹ cations

Matron of the foundation, also commended the foundation for its relentless efforts to improve the conditions of the widows, their children and orphans in all ramifications.

Also speaking at the party, Alakija, said the foundation will continue to advocate for the rights of widows and orphans in the country.

She called on all stakeholders to join them in the fight. Alakija, who highlighted some of the foundation’s achievements during the period, said that 2017 was a fruitful year. According to her, the foundation’s empowerment programme has benefitted widows from all the geopolitical zones of the country. Over 1,000 widows, together with their children, emerged as beneficiaries and recipients of loans and scholarships. “Wipe away your tears, roll up your sleeves, pray, believe and look for what you can do. Start doing something,� she encouraged the group.

To improve the health of the widows, founder, Cancer Awareness Nigeria, a nonprofit organisation, Mrs. Tolulope Falowo, gave away 100 vouchers to those over 40 years of age. The vouchers enabled them to undergo free cancer screening. Also, the CEO of Makemee Elegant, Mrs. Kehinde Okoroafor, offered to train 50 widows in producing wigs and weave-on.

To promote academic excellence among the children of the widows, the foundation also gave cash prizes to primary, secondary and tertiary students who distinguished

themselves. The student with the best result in the Bachelor’s degree category was, however, awarded a scholarship for further study with a cash prize of N50, 000.

On its website, the Rose of Sharon Foundation (RoSF), describes its purpose as “an NGO focused on alleviating the plight of widows and orphans.� The Foundation says it designs and “execute programmes that give financial independence and educational opportunities to widows, their children and orphans.�

A journey that started with three widows on May 23, 2008, the foundation has now morphed into a network of almost a thousand widows. Since inception, RoSF has empowered 970 widows – 11 of whom are in university, awarded scholarships to 1,366 widow’s children and 72 orphans, according to data extracted from its website.

The loans to widows are interest free and the scholarships have no conditions attached.

It has also provided accommodation for residential/business purposes for 82 widows. Moreover, it has provided some free healthcare checkups and free legal services to our widows with the support of other agencies.

One of the widows the foundation has empowered is Mrs. Josephine Bhate, who spoke to this reporter in 2015. Mrs. Bhate lost her husband in 2006, and was left to cater for four children. She got to know about the Rose of Sharon Foundation through

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FEATURES

a church member, and since then, as she tells us, they have been incredibly helpful. “God has been helping me,� she said. “God has been using this foundation for us. At times, they train us on how to do something for a living. Last time, we were taught how to make beads, decorations, and make-up. So, in future we can make use of it. At times, they will bring people to teach us about hygiene. They are really trying for the widows.�

Another widow who has benefited from the foundation’s benevolence is Mrs. Chinwendu Augustine, who spoke to THISDAY earlier this year. In 2006, Chinwendu Augustine lost her husband in an accident along Oshodi Expressway. The news shook her terribly. “I did not even know I would be alive today,� Augustine said, 11 years after the unfortunate incident that left her an unemployed widow with three kids to support. “It was tough and a very heavy burden; I was left all alone.�

But, in 2012, Augustine heard about RoSF. Quickly, she signed up. “The Foundation has really changed my life,� she said. “They wiped off my tears; they gave me interest free loans and sent my children to school.� Augustine’s only daughter just recently passed out from the Michael Okpara University of Agriculture, Umudike, studying Business Management and Agriculture, through a RoSF scholarship. “In fact, anytime I call upon them, they are always there for me,�

Augustine added. “I thank God that He used this Foundation to take care of me.�

According to Forbes, as at December 2016, Mrs. Folorunso Alakija was worth $1.43billion. A onetime fashion designer and style connoisseur, Alakija struck gold when she obtained an oil exploration license from the Nigerian government in the early 1990s. Now the vice chair of Famfa Oil, a Nigerian oil exploration company, she credits her success to the divine, hard work and persistence. These three factors, too, have informed her philanthropy.

RoSF is affiliated to Rose of Sharon Glorious Ministry International, a Christian Ministry also started by Alakija, “to provide spiritual strengthening through the God we serve, give comfort and encouragement where the opportunity presents itself for the widows, their children, orphans and the neglected in our society,� a statement from the foundation’s website said.

Beyond the spiritual, she also believes that people who are ready to work hard and persevere will eventually prevail. This is why RoSF emphasises skills empowerment programmes over the mechanical idea of doling out ephemeral packages. Last December, RoSF, donated a skills acquisition centre and bookshop to the Yaba College of Technology in Lagos.

Alakija, in a press release obtained by THISDAY, said the centre and bookshop, both located in a bungalow, are to support

Wife of Lagos State governor, Mrs. Bolanle Ambode (1st left), one of the beneďŹ ciaries and Mrs. Folorunso Alakija, at the event

Mrs. Bolanle Ambode and Mrs. Folorunso Alakija, having a look at the widow's exhibition stand.

To improve the health of the widows, founder, Cancer Awareness Nigeria, a nonproďŹ t organisation, Mrs. Tolulope Falowo, gave away 100 vouchers to those over 40 years of age. The vouchers enabled them to undergo free cancer screening. Also, the CEO of Makemee Elegant, Mrs. Kehinde Okoroafor, offered to train 50 widows in producing wigs and weave-on

The Christmas party was spiced with a variety of culture performances

the college to train more youths, widows and less-privileged to become self reliant.

“Education is one thing that is important within our structure as a foundation for

widows and orphans to be educated,� she said.

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IMAGES

The Speaker, Edo State House of Assembly, Rt. Hon. Kabiru Adjoto (l), presenting a copy of the 2018 appropriation bill to the Governor, Mr. Godwin Obaseki, at the Government House in Benin City,recently

Group Managing Director/CEO, Master Reality International Concept Limited, Mr. Lai Omotola (left) and General Manager, General Duty Services, Mr. Emmanuel Malagu, during the annual media meeting for the year on the nation economy, environment, budget, construction, infrastructures and politics in Lagos....recently kola olasupo

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

(L-R; Executive Director, Fatgbems Group, Shamsudeen Gbemisola, Managing Director, Damola Gbemisola, Captain Depot Team, Abraham Klove, Chief Operating OďŹƒcer, Fatgbems Group, Dare Adeola and the Executive Director, Bayo Gbemisola at the presentation of Fatgbems Group 2017 end of year football tournament trophy to the depot team in Lagos...recently

Cross section of travellers boarding the free train ride provided by Aregbesola’s administration of Osun State t lddo terminus, Lagos to their various destination in commemoration of the new Year 2018 celebration....recently

L-R: Chairman, Auxiliary Society, Wesley Cathedral, Olowogbowo, Lagos, Bro. Olubunmi Cole; Patron, Bro. Aramide Tola Noibi; Vice Chairman, Bro Olumide Alex-Taylor; Secretary, Prince Adesegun Akitoye and a patron, Pastor Ayodeji George at the oďŹƒcial Inauguration thanksgiving service of the Society’s milestone anniversary at the church in Olowogbowo, Lagos...recently

Governor Aminu Waziri Tambuwa of Sokoto State and his convoy cruising across River Benue on boats to Ibi town in Taraba State to pay a condolence visit to the former Chief Whip of the House of Representatives, Hon Isiaka Bawa, who lost his mother, Hajiya Hadiza.. recently.

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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 3.83% 4.50%

CALL 1-MONTH 3-MONTH

6.33% 7.58% 8.67%

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

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

329.91% 0.03% 3.90%

2 9 , S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 1 7

11.66% 25.84%

EXCHANGE RATE ͹͎ʹ˚ͯ ̊ ̊

Quick Takes Transcorp Hotels Calabar Wins Award

FMDQ LISTS FGN DIASORA BOND

L-R: Managing Director/CEO, FMDQ OTC Securities Exchange, Mr. Bola Onadele. Koko, Director-General, Debt Management OďŹƒce of Nigeria (DMO), Ms. Patience Oniha, and Executive Director & Head, Debt Capital Markets, Stanbic IBTC Capital Limited, Mr. Kobby Bentsi-Enchill, during the presentation to the DMO of the listing certiďŹ cates for the inaugural $300 million Diaspora Bond and $3 billion Eurobond issues on FMDQ in Lagos‌recently

10 Banks Facilitate N93trn Investment in Fixed Income Securities, Currency Goddy Egene Stanbic IBTC Bank Plc, Access Bank Plc, Ecobank Nigeria Limited led the top 10 banks that facilitated investment in fixed securities and currency valued at N93.36 trillion on the FMDQ OTC Securities Exchange between January and November 2017.

In all, the 10 banks accounted for 71.7 per cent of the total of N130.17 trillion trading in the 11 months.

But the three banks-Stanbic IBTC, Access Bank and Ecobank-accounted for 48.73 per cent or N45.49 trillion of the total transactions

CAPITAL MARKET recorded.

The other banks among the top 10 include: United Bank for Africa Plc, standard Chartered Bank Nigeria Limited, First Bank of Nigeria Limited, Diamond Bank Plc, CitiBank Nigeria Limited and Union Bank of Nigeria Plc. Meanwhile, an analysis of the N130 trillion traded so far in the market, showed that the Treasury Bills (T.bills) segment is the most active accounting for 37.8 per cent, followed by the activities in the foreign

exchange (FX) market which accounted for 32.27 per cent.

Money market (repurchase agreements [repos]/buybacks & unsecured placements/takings) accounted for 24.54 per cent, while the Federal Government of Nigeria (FGN) bonds recorded 5.35 per cent.

A further analysis of the performance in November showed that transactions in the FX market settled at $15.08 billion, an increase of 8.78 per cent when compared with the $13.86 billion recorded in October.

Turnover in the fixed Income market in the month

under review settled at N6.41 trillion, a 20.39 per cent increase. Transactions in the T.bills market accounted for 87.60 per cent of the overall fixed Income market, from 85.10 the previous month.

Outstanding T.bills at the end of the month stood at N10.41 trillion, which is 5.46 per cent higher than the N9.87 trillion in October. On the other hand, FGN bonds outstanding value increased by 1.48 per cent to close at N7.53 trillion, from N7.42 trillion in October.

Trading intensity in the

During the past 10 years, companies have made enormous investments to provide customer service through digital channels, a report has stated. The report from the Boston Consulting Group (BCG), however, noted that although the adoption of digital channels was revolutionising how customers interact with businesses, the benefits in terms of cost reduction and customer experience had often fallen short of expectations.

Therefore, it stressed the need for companies to reconsider their approach.

The report pointed out that the fundamental challenge was that companies continue to develop digital channels independently of their existing human-support channels, most notably the contact centre. “As a result, they fail to

ECONOMY tap into the contact centre’s value in providing multichannel customer service and customer insight. This value is significant, even in the context of an existing “digital first� channel strategy. “Because companies think about digital and human support separately, they make a common set of mistakes when designing and executing a multichannel strategy. They can correct these mistakes by following a corresponding set of imperatives that have the shared objective of leveraging the contact centre’s insights and capabilities to increase the impact of digital initiatives. “By taking these actions, companies can realize benefits from an improved customer experience sooner, sustainably reduce cost to serve, and more successfully ease customers

into the self-serve habit,� it explained.

It showed that a survey conducted by the BCG and NICE, a provider of customer experience data tools, found that 82 per cent of consumers in a sample from advanced economies use a web selfservice channel. However, the survey also found that 82 per cent of consumers still call contact centres to speak with agents.

To this end, it stressed that the continued dependence on human assistance was an indication that companies and their customers were not fully capturing the benefits of digital customer service. “Companies often decide which activities to automate on the basis of how easy it is to do so. The basic assumption is that digital self-serve channels will handle the simpler interactions, while humans step in to deal with more complex queries.

Ecobank Supports PediatricCentre

The Lagos State government has commended Ecobank Nigeria for renovating and furnishing the main building at the Agbala Pediatric Centre in Ikorodu, being part of the bank’s corporate social responsibility (CSR) eort directed at women and children.

Speaking on behalf of the State Commissioner for Health, the Chairman, Lagos State Health Service Commission, Dr. Bayo Aderiye said the contribution by Ecobank would go a long way in resuscitating healthcare delivery at the Centre. He said the children’s pediatric Centre which is a strategic health facility for residents in Ikorodu and environs has long desired this facelift.

Aderiye used the opportunity to call on other corporate bodies to support the government in enhancing strategic public facilities that have direct impact on the people. Also speaking during the ceremony, the Managing Director, Ecobank Nigeria, Charles Kie said the renovation of the Agbala Pediatric centre by the bank was a promise kept as part of a weeklong Environmental sustainability campaign in line with the business mantra of Ecobank, which is to build a world class Pan African bank and contribute to the economic development and ďŹ nancial integration of Africa.

Tunisia Raises Fuel Prices

Continued on page 24

‘How Firm Can Improve Digital Customer Service’ Obinna Chima

Transcorp Hotels Calabar, a subsidiary ofTransnational Corporation of Nigeria Plc has been recognised by the Cross River State Safety Commission as the ‘Best Safety Compliant Hotel’ in 2017.

The award was bestowed upon the hotel recently, for achieving a standard of safety management. According to a statement, the hotel had over the years been attracting numerous acclaim owing to its painstaking attention to detail and its infusion of world-class structures and standards into its everyday activities to satisfy its guests and customers. The General Manager, Transcorp Hotels Calabar, Mr. Chuma Mgbojikwe, who expressed delight at the latest award, said its focus and investment in training and retraining as well as maintaining high quality standards in the area of safety, security and hygiene was paying-o for the hotel. He added: “We take great pride in this award and recognition. We have seen a consistent improvement in our hygiene standard and this has certainly helped to increase guest satisfaction.â€? Continuing, he enthused, “We’re very proud to win this award -- it is great to receive global recognition for the hard work our team members put into delivering a high standard of hygiene and safety.â€?

Mgbojikwe assured of the hotel’s dedication to focus on maintaining excellent standards in all its activities. On his part, Mr. Valentine Ozigbo, MD/CEO Transcorp Hotels Plc, said, the award was a unique achievement for Transcorp Hotels Calabar, adding “I am impressed by the high level of training and awareness within the hotel. It is obvious that Transcorp Hotel Calaber is committed not only to guest satisfaction and comfort, equally important are the Security and Safety issue.

However, this model does not always consider the real value to customers of the contact or how automating it might diminish that value. “For example, most subscription businesses make bills available online, regarding this as a simple way to address billing inquiries. But customers often go online not only to find out how much they owe, but also to understand how a charge is calculated, dispute a charge, request a payment extension, or learn how to reduce charges in the future. “If they cannot get help with such inquiries in the digital channel, customers must call the contact centre for assistance—and will likely be frustrated that they had to make multiple contacts to resolve their issue,� it explained.

To address these mistakes Continued on page 24

Tunisia has announced the second increase in fuel prices in six months,raisingthepriceofpetrolby2.85percentasthegovernment tries to rein in the budget deďŹ cit.The price of a litre of gasoline rose from 1.75 dinars to 1.8 dinars from Monday, the Ministry of Energy, Mines and Renewable Energy explained. The price of diesel will also increase by 0.05 dinars, to 1.56 dinars a litre for low sulphur diesel and 1.28 for regular diesel, the ministry said. The price of a canister of domestic cooking and heating gas will rise from 7.4 to 7.7 dinars, the ďŹ rst rise in price for seven years. According to Reuters, in July the government raised the price of fuel from 1.65 dinars to 1.75 dinars, an increase of 6.7 percent.

Praised for its democratic transition after a 2011 uprising, Tunisia has struggled to push through economic reforms agreed with international lenders to lower public spending.

It has forecast that the budget deďŹ cit will fall to 4.9 percent of gross domestic product in 2018, from about 6 percent expected in 2017.

A 36 billion dinar ($14.55 billion) budget for 2018 approved earlier this month includes a package of ďŹ scal measures to cut the deďŹ cit that had been watered down under pressure from unions.

“TThe agriculture sector will get a massive boost from the federal government in 2018.

This will be in its bid to keep to its promise on diversification of the economy away from oil,

CEO of Fidelity Bank Plc,

Mr. Nnamdi Okonkwo

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10 BANKS FACILITATE N93TRN INVESTMENT IN FIXED INCOME SECURITIES, CURRENCY Fixed Income market for the month under review settled at 0.54and 0.11for T.bills and FGN bonds respectively, from 0.47 and 0.11respectively, recorded the previous month.

T.bills between the one and three months maturity bucket became the most actively traded, accounting for a turnover of N1.33trn in November.

Activities in the Secured Money Market (i.e. Repos/ Buy-Backs) settled at N3.42 trillion in November,59.04 per cent (N1.27 trillion) more than the value recorded in October.

Unsecured placements/ takings closed the month at a turnover of 226.46 billion, a 14.38 per cent rise increase. ‘HOW FIRM CAN IMPROVE DIGITAL CUSTOMER SERVICE’ and promote a seamless multichannel customer experience, the report stated that contact centres needed to produce huge quantity of valuable information. “Analysing data on where customers look first to get help can also yield valuable insights. For an increasing number of customers, a web search is the first recourse when seeking answers about products or services. “And they often find what they’re looking for.

Customers who Google a company’s contact number, for instance, typically see it displayed in a large font at the top of the search listings.

Leading companies use search engine marketing to funnel search queries into relevant online answers. “Rather than forcing customers into digital channels, companies should create the conditions that will encourage them to change their habits over time. In our experience in multiple service sectors, switching to digital channels is not a one-time event but rather a transition that typically requires up to two years,� it stated.

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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Court Stops FRC’s Rule on Audit Committee Chairman’s Qualification Goddy Egene Shareholders under the aegis of Independent Shareholders Association of Nigeria (ISAN) have won a case against the Financial Reporting Council of Nigeria (FRCN). The FRCN had in 2015 issued and published a which stated that “any person attesting as Chairman of Audit Committee to annual report statement, accounts, financial report, return, and other documents of a financial nature, shall be a professional member of an accounting body established by act of National Assembly.�

But ISAN, as association considered the Rule 2(c) of the FRCN as an anomaly and meddlesome in the extreme, saying it was against the letters and spirit of the Companies and Allied Matters Act (CAMA) section 359.

The National Coordinator of ISAN, Mr. Adeniyi Adebisi explained in a statement that they engaged the Executive Secretary of the FRCN on a number of occasions to reverse itself regarding the said rule, but the agency refused to do so. “It insisted that a chairman of an Audit Committee of a public quoted company must be one professionally qualified as an accountant. To add salt to injury, public companies that could not provide a professionally qualified accountant as their

Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă?

Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Cap Mkt) ÔÓÙĂ?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Nation’s Capital) ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ (Money Mkt) Reporters

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Audit Committee chairman were required to apply for a waiver before their annual accounts can be approved. FRCN collects a sum of N600,000 for the so called waiver to be granted. In view of this rascally behavior of the FRCN, our Association felt compelled to institute a legal action under SUIT NO FHC/L/ CS/1026/16 before Justice A O Faji with Barrister Chuks Chukwemeka as our lead counsel,� Adebisi said.

He explained that ISAN had prayed the High Court to: set aside the publication purporting to be rules made

by FRCN(Defendant); set aside

any other directive of FRCN to companies incorporated under the CAMA published on its websites or by any other means on the qualification for membership, headship or composition of an audit committee; set aside any directive to any quoted company or any imposition of any sanction upon any quoted company or any director or officer, or any other agent of other professional engaged by any quoted company among others.

Adebisi said that in his ruling Justice A. O. Faji, declared that FRCN has no power under the FRCN Act to make any rule

stipulating a qualification for membership or headship of audit committees of companies incorporated under the CAMA. The ISAN coordinator quoted the court to have declared: “The defendant has no power under the FRCN Act to prescribe any standard of financial reporting or any other standard that requires of any company incorporated under the CAMA anything that is inconsistent with or that modifies in any respect any provision of the CAMA. The defendant is bound to exercise its functions in accordance with any law in force in the country and therefore may not prescribe

any standard or make any other prescription which is inconsistent with any other law made by the National Assembly. “In the absence of the Board established for the defendant and charged with overall control of the defendant under the Financial Reporting Council of Nigeria Act neither the Executive Secretary of the defendant nor any other persons can constitute themselves into the defendant or act in the name of the defendant to be exercised by the defendant to affect the legal rights and obligations of any person outside of the defendant under the Financial Reporting Council of Nigeria Act.�

PROMOTING E-BUSINESS

L-R: Regional Managing Director, Microsave, Mr Isaac Ondieki; Chief Executive OďŹƒcer, Gboza Tech, Mr. Ade Atobatele; Vice Chairman, Committee of e-Business Industry Heads (CeBIH), Mr. Stanley Jacob; Executive Director, Business Development, Nigeria Interbank Settlement System (NIBSS), Niyi Ajao, and an oďŹƒcial of the Central Bank of Nigeria, Mr. Stephen Ambore, at the CeBIH annual retreat held in Abeokuta‌recently

Firm Unveils Africa’s On-demand Commodities Trading Platform Emma Okonji An eCommerce firm, OyaOya, has announced the pilot of its commodity trading marketplace on www.oyaoya.com to connect the commodity ecosystem across Nigeria and Africa.

The OyaOya platform rides on cutting-edge technology to connect four essential components together in a seamless and efficient flow – a marketplace for vendors to present their products; customers to select a product; commodity transporters and an escrow payment system for secure transactions.

The Chief Executive Officer, OyaOya, Khalil Halilu an-

nounced the pilot run of the marketplace with over 3,000 registered vendors already saying that it opens Africa’s first Commodity on-demand hub leveraging technology to raise the bar for the commodity value chain across the continent.

He said: “Nigeria and other African economies are projected to increase shares of the global sales due to growing participation in eCommerce and accelerated growth forecast expected out of developing economies.

OyaOya aims to have 10 per cent of farmers and 40 per cent of petroleum product traders on its platform by the end of 2018. We are also mindful that today’s urban dweller is a very

busy person.

He or she does not have the time to go out for cooking gas or shop around for groceries.

Similarly, businesses want access to the best items at the best prices, delivered to them with ease. This is where OyaOya comes in. The platform provides the customer access to vendors, giving him or her choices based on brand, price, time it takes to deliver and even a vendors rating by other customers.�

According to him, apart from providing a one-stop-shop for commodity market information, OyaOya will also fill the gap for driving efficiency and effective distribution across Nigeria and other African economies.

“OyaOya is an enterprise based on our user friendly online platform designed to connect customers to vendors within close proximity for easy and secure on demand transactions. We believe that buying and selling does not have to be tedious, or time-consuming.

We do all the heavy-lifting so you do not have to. We bring a highly innovative and confident team together to make sure we deliver value and quality, when and where you need it – no hassle, no hustle,� he added.

Halilu explained that it is settled long ago that Africa is the commodity-capital of the world, yet the continent has not been able to effectively distribute

its resources amongst its people. “Farmers face several challenges including trying to get their products to market, inadequate information on how, where and at what price to sell produce. This is compounded by customers not being able to locate them, a mismatch between transporters and owners of commodities, among other factors that have undermined the global competitiveness of the local commodity merchants,� he said.

He explained that commodity prices would be volatile and extremely difficult to predict, which is due to several challenges faced in the African commodity ecosystem.

‘Graduate Trainees Will Re-engineer the Nation’s Workforce’ Emma Okonji

Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“

Given the dearth of practical skills among young school graduates as a result of too much emphasis on theoretical and technical education in the university system, the Managing Director of Poise Graduate Finishing Academy (PGFA), Mr. Asher Adeniyi, has stressed the need to train technicians that will boost the nation’s workforce.

Commending the Group Managing Director of PGFA, Mrs. Ukinebo Dare, for her initiative on the curation of

the transformational curriculum seven years ago, Adeniyi said such initiative led to the formation of PGFA, an institution that gives graduates a head start to the Nigerian labour market by equipping them with the right skills to get the job of their dreams. “Students who have passed through the school have been able to unlock the secret formula to winning the hearts and minds of employers with most of them taking over the job market. The school is currently improving the Nation’s GDP one individual at a time

by refining and developing knowledge, attitude, skills and experiences to position graduates for a successful career,� Adeniyi said. According to him, “the academy is set out to empower young people with skills and values that will enable them make lasting contributions in every sphere of life. As a result of the unpleasant unemployment situation faced by youths in Nigeria, however, getting a good job might prove to be extremely difficult but when the necessary skills are acquired from PGFA, graduates would

not just get the jobs but also make valuable contributions to the institutions they work for.�

He stated that students could apply for the 2018 entry session to participate and benefit for a lifetime opportunity on the PGFA website. So far, PGFA has trained over 33,000 graduates in Nigeria with employability skills like business canvas and plan writing, self-awareness, business communication and etiquette, among others. The trainees are also exposed to digital skills, IT skills which improves their communication

skills in listening, writing or oral. The skills acquired have connected 528 graduates to jobs in the private sector.

At a recently organised job fair for the graduates passing out, employers were delighted at the level of quality and preparedness of the participants. An employer from the insurance industry, Mr. Philip Okafor, said: “The candidates I interacted with, showed diligence in preparedness and demonstrated a higher quality of IT skills compared to other graduates.�

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BUSINESSWORLD

NEWS

‘Algeria’s Shale Gas Plans Will Require Tough Reforms’ Algeria needs to exploit its shale gas resources to offset a surge in local energy consumption that is eating into vital exports, but developing the industry will take time and require far-reaching reforms at the state energy firm.

The North African country is a key gas supplier to Europe, but exports have suffered from delays to several gas projects and a steep rise in the use of subsidized gas at home as the population has grown.

According to a report by Reuters, Algeria’s gas exports are expected to fall to 54 billion cubic metres in 2017 from 57 billion in 2016, the state energy firm Sonatrach has said. In the decade to 2014, domestic gas consumption has more than tripled.

To reverse the fall in exports, Sonatrach has started talks with France’s Total and Italy’s ENI, Sonatrach officials say. The aim is to exploit shale resources estimated at 22 trillion cubic metres, the world’s third largest.

The foreign firms have not confirmed this, although Total’s CEO said in December his company was open to greater cooperation after Sonatrach said it would work with Total on shale gas.

The talks are part of changes pursued by Sonatrach’s new chief, Abdelmoumen Ould Kaddour, a U.S.-trained engineer, who took office in March aiming to overhaul a sprawling group hit by inefficiency, delays and corruption scandals. Sonatrach declined to comment for this article.

But new shale gas projects will not happen overnight as only limited geological survey data exists and Algeria needs to change legislation to offer more attractive terms to foreign firms, which are selective about investments at a time of low energy prices, industry sources say. Key Western firms are anxious about gas supplies as Algeria’s exports drop.

They are also keen to break the link between what they pay for Algerian gas and the oil price, which can result in losses if crude prices are high.

But the bigger challenge for Ould Kaddour will be to shake up Sonatrach, no easy task in a country where senior figures wary of foreign influence can resist reforms. “Algeria should have launched shale exploitation years ago but lacked consistent and coordinated leadership,� said Geoff Porter, head of North

Africa Risk Consulting and an Algeria energy expert. “What Ould Kaddour is trying to do is risky, but necessary.

He wants to wake Sonatrach up from its slumber,� he said. “But the changes ... may cause some pain. They will mean loss of prestige for some Sonatrach stakeholders and it will mean longer hours for some Sonatrach employees.�

Algeria also needs to invest in oil projects to keep its crude output at one million barrels a day. Pumping has become more difficult as surface reservoirs have been exploited at some fields. Algeria shied away from change in its energy industry until European gas buyers started wondering whether to renew contracts as they fear Sonatrach might struggle to meet its obligations. Domestic gas demand is expected to rise further due to Algeria’s growing population, industry sources say.

Algeria, which sells mainly to Italy, Spain and Portugal, is the third most important gas supplier to the European Union after Russia and Norway.

Any reduction in supplies from Algeria could increase European reliance on Russia, which has used gas to further its foreign policy aims.

China Stocks Start 2018 Strongly, Dollar Weakens China’s equities led regional gains as property stocks soared in Hong Kong and a gauge of manufacturing strength beat expectations. The dollar slid following its worst year in more than a decade, while gold advanced.

An index of Chinese H shares jumped 2.8 per cent to head for a 2 1/2-year high, while the Hang Seng Index and stocks on the mainland also rose. Developers were the biggest gainers, boosted by optimism on sales. The MSCI Asia Pacific Index climbed to a record, though markets in Tokyo remain closed until Thursday for Japanese holidays, and New Zealand was also shut Tuesday. Gold climbed for an eighth day, bitcoin held losses and the dollar weakened against almost all major currencies.

Global stocks last year posted their best performance since 2009, fueled by a synchronous global expansion and a go-slow approach toward monetary-

stimulus withdrawal in major economies. That proved to be a winning recipe for equities and a loser for the greenback.

U.S. stocks pared gains on the last day of trading, however, with the bulk of losses coming toward the close. S&P 500 futures were up 0.1 percent Tuesday.

The China Caixin manufacturing purchasing manager’s index showed a December reading of 51.5, beating the expected 50.7 and up from 50.8 the previous month. A slew of other manufacturing PMIs from around the region showed Taiwan’s at its highest since at least 2015, while the Philippines remained in expansion and Indonesia and Malaysia contracted. Singapore reported fourth-quarter economic growth of 3.1 percent, beating estimates.

Also, the MSCI Asia Pacific Index climbed 0.5 percent as of 12:42 p.m. in Hong Kong, after surging 29 percent to a

record high in 2017.

In the same vein, the Hang Seng China Enterprises Index jumped 2.8 percent, the most since November, and the Hang Seng Index was up 1.7 percent, while Korea’s Kospi index added 0.4 percent, while Australia’s S&P/ASX 200 Index slipped 0.2 per cent.

The Bloomberg dollar index was down 0.1 per cent, falling for a fifth-straight session.

The euro was little changed at $1.2016, while the British pound gained 0.1 percent to $1.3514. The onshore yuan rose as much as 0.2 percent to its strongest since Sept. 8, while the South Korean won touched the highest since 2014 and Taiwan’s currency extended gains at a four-year high.

The Aussie rose 0.4 per cent to 78.32 U.S. cents and the New Zealand currency strengthened 0.1 per cent to 71.14 U.S. cents, set for a 10th session of gains.

The yen fell 0.1 per cent to 112.72 per dollar.

Singapore Home Prices Rise Singapore home prices rose for a second straight quarter, reinforcing signs the city-state’s property market is emerging from a four-year slump.

An index tracking private residential prices rose 0.7 per cent in the three months ended Dec. 31, building on a 0.7 percent gain the previous quarter, according to preliminary data from the Urban Redevelopment Authority released Tuesday. For 2017, prices rose 1 percent compared to a 3.1 percent decline in 2016, the data showed.

A jump in home sales and

developers’ aggressive bids for land are stoking optimism the property market is making a comeback after prices fell for almost four years. Still, gains may be capped as the bulk of cooling measures rolled out since 2009 remain in place to avoid Hong Kong-style runaway price-growth. The central bank in November flagged the risk that rising housing vacancies amid slowing population growth may undermine the burgeoning property recovery.

Developers sold about 10,245 units last year through

November, already making it the best year since 2013, with a month of sales still to report.

According to Bloomberg, the apartment prices in prime districts rose 1.6 percent last quarter compared to a 0.1 percent gain in the September quarter. Suburban apartment prices added 0.6 percent after climbing 0.8 percent in the previous quarter, while areas near prime districts gained 0.2 percent. For 2017, prime area apartments rose 0.8 percent while suburban areas added 1.2 per cent.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Reinvention! A New You! Do you sometimes wish you can wipe clean the slate of your past? Do you wonder how you can change the way you are perceived and start all over again? I have and many of us might have gone through that introspection at one time or the other.

One person that exemplifies the question above for me is Mo Abudu.

Mo has done a fantastic job of reinventing herself and is a great motivator to manypeople on believing in themselves, their abilities, understanding who they want to be and taking positive and practical steps to achieving these objectives. To the best of my knowledge her media debut was with her TV talk show Moments with Mo.She later became the CEO of Ebony Life TV and is now a movie mogul, with the production of acclaimed movies to her credit. She has completely metamorphosed, changed the narrative about who she is and how she is perceived.

We all like what we see today and want to associate with it and are inspired by it.But, I can assure you that she did not achieve this reinvention and growth without a lot of hard work and focus. Many of us have the potential to achieve this same level of success and fame. The question is, what are you doing about this potential?Potential is a word filled with optimism, possibilities, fulfilment, and greatness.But, many of us do not fulfil our potential. We live our lives with unfulfilled potential. Florence Littauer, a speaker and author, in her book Silver Boxes, wroteabout her father, who always wanted to be a singer but never was. She said he died with the music still inside him.

Florence’s comment about her father leaves me very sad, because many of us have potential. When asked to talk about the things we want to do, we can paint a vivid and palpable picture of what we want to do or who we want to become.

Many of us have gifts we do not hone and these gifts are withering away inside of us. John Maxwell said, “not reaching your potential is like dying with the music still inside of you�.

If this article strikes a chord in you, these are pertinent questions to ask yourself and work towards answering as you start to reinvent yourself:

r Do you like what you are doing now?

If yes, how can you do it better and ensure that you do it to a point that it elevates you to a level where it changes the narrative about you. If not, rWhat would you like to do? It is important to spend time understanding what you like. Many of us are in jobs we currently are not excited about. I knew what I liked doing early in my career, which

Do you know why you want to do what you would like to do? Why you want to do what you want to do is very important because what drives you is very key to ensuring that you succeed. If your objective is superďŹ cial and not from deep within you, the reinvention drive will not succeed

was to make things happen. Give me a blank slate, tell me what you hope to achieve and this gets me very excited and passionate.

Combining the above scenario with a sales and marketing role, which was achieving targets and working with teams to achieve these targets gave me a lot of passion and energy. If you come across someone doing an assignment with passion, there is big difference. It is said, that one person with passion is greater than ninety-nine who have only interest.

r Can you do what you like to do? Be honest about this, evaluate your ability. Where you fall short, consider whether you can be trained to achieve your objective. r Do you know why you want to do what you would like to do? Why you want to do what you want to do is very important because what drives you is very key to ensuring that you succeed. If your objective is superficial and not from deep within you, the reinvention drive will not succeed. Your desire to reinvent yourself must be for altruistic reasons otherwise you may not succeed. When you do things for the right reason it gives you inner strength and resolve, because reinvention takes time, can be very challenging and many issues will come up that can deviate you from your goals and objectives. Knowing you are doing it for the right reasons will keep you going and power your resolve. r Do you know people who do what you’d like to do? The example I used above, Mo Abudu - is a great inspiration for me, especially her intentionality and determination.

Somebody, once asked me, “why not Oprah�.

Yes, Oprah is also an inspiration for some of the things I will like to do� – especially in the media space. Who is your inspiration?

Who has done what you’d like to do and succeeded in it? What steps are you taking to studying and understanding what these individuals have done? r Will you pay the price to do what you want to do? Reinvention does not come easy.

It involves plenty of hard work and we are usually our own worst enemies. James Thorn said, “probably the most honest self-made man that ever was, was the one we heard say, I got to the top the hard way, fighting my own laziness and ignorance every step of the way�. John Maxwell said, “taking the steps necessary to live your dreams and do what you do want to do will cost you. You will have to work hard. You will have to make sacrifices. You will have to keep learning and growing and changing. The question is are you willing to pay the price?�

Mo has paid the price and reaped the benefits and many admire what she has achieved and who she is today. People say there are two great days in a person’s life, the day you were born and the day you discover why.

It is possible, she has discovered why or she may be on another reinvention drive to further enhance her stature. Let’s take a cue from Mo, there are many good examples of individuals who have reinvented themselves, but hers is one that we can see and relate with today, because it is current and happening right now.

I wish you a happy new year, Reinvention and a NEW YOU! .– 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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Stock Market Investors Count Gains Goddy Egene writes that with more price gainers than losers in 2017, investors are happy that they staked their funds in the stock market the top performer in the sector, after advancing Investing in the equities market provides significantly higher returns compared to other forms of investments. However, it equally carries higher risks, hence many investors, who are risk averse, prefer fixed income.

For three years-2014, 2015 and 2016- the Nigerian equities market recorded a decline, a development that made more investors to go remain in the fixed income securities market.

However, 2017 was a turning point as the market rebounded and delivered significant returns to investors. The Nigerian Stock Exchange (NSE) All-Share Index rose 42.3 per cent, while market capitalisation gained N4.36 trillion to close the year at N13.61 trillion.

In all, 67 stocks appreciated in value, while 38 depreciated. Some of the stocks fetched returns above 100 per cent. The highest price gainer, for instance, Dangote Sugar Refinery Plc posted a gain of 227 per cent, while International Breweries Plc, Fidelity Bank Plc, Fidson Healthcare Plc and Dangote Flour Mills Plc appreciated by 194.5 per cent, 192.8 per cent, 189 per cent and 185 per cent respectively.

According to analysts at Meristem Securities Limited, positive sentiments dominated the Nigerian equities market in 2017 as investor confidence was restored following release of impressive financial scorecards, alongside developments such as the increase of Nigeria’s weighting in Morgan Stanley Capital International (MSCI) Frontier Market Indexes and the introduction of the Investors’ and Exporters’ (I&E) FX window in April which increased the participation of investors in the equities market. “Given that we expect the Nigerian economy to maintain its steady growth, we do not expect the market to deviate from its current trend, hence, we opine that this positive momentum will be sustained in 2018, albeit at a slower pace on the back of the high base effect in 2017. Positive sentiments dominated the Nigerian equities market in the year as investor confidence was restored following release of impressive financial scorecards, alongside developments such as the increase of Nigeria’s weighting in Morgan Stanley Capital International (MSCI) Frontier Market Indexes and the introduction of the Investors’ and Exporters’ (I&E) FX window in April which increased the participation of investors in the equities market,�

MSL said.

Agricultural Sector A further review of the sectoral performance by MSL indicated that the agricultural sector closed in the positive territory, as the MERI-AGRI index advanced by 66.6 per cent. “Trailing the banking and services sectors, the sector closed as one of the best performers in the year. Sector breadth was pegged at 2.00x, as two stocks advanced while one declined.

Presco Plc (+70.82 per cent) and Okomu Oil Palm Plc (+68.51 per cent) recorded gains while Livestock Feeds Plc declined by 1.19 per cent. “The positive outing recorded at the close of the year can be attributed to the price advancements noted on the two large cap counters in the sector, following increased investors’ appetite for the stocks. We expect the positive appetite for agricultural stocks to continue in 2018, to be fueled by the Federal Government’s intervention in the sector in terms of provision of credit facilities in addition to other incentives. We also expect improved performance through increased public-private partnership with sector players, in a bid to achieve self-sufficiency in the production of certain agricultural products,� they said.

Banking Sector Outpacing all other sectors in the bourse, the sector prevailed as investors’ favorite for 2017, as the MERI-Banking Index, which measures performance of sector stocks in the space, advanced by 81.92 per cent in 2017.

Accordingly, sector breadth closed positive at 4.00x, as 12 bulls outran three bears.

Fidelity Bank (+192.86 per cent) topped the gainers’ chart in the banking sector while recording the third highest return in the entire market. On

by 90 per cent. Beta Glass Plc (+69.23 per cent), Berger Paints (+32.66 per cent), Dangote Cement Plc (+32.19 per cent) and Portland Paints (+22.22 per cent) also featured on the top gainers’ chart for the year.

On the flip side, PaintsCom was the top laggard for the year, after shedding 9.23 per cent. The counter was trailed by Vanleer (-6.19 per cent) and African Paints (-4.86 per cent). “The sector enjoyed improved investor confidence in the year as most companies recorded significant gains in their top-line and bottom-line performances.

Consequently, the positive sentiments sustained on most of the sector’s stocks drove the sector’s performance in the year,� MSL said.

Insurance sector

NSE trading oor

its trail were Stnabic IBTC Holdings Plc (+176.67 per cent), FBN Holding Plc (+162.69 per cent), UBA (+128.89 per cent) and Access Bank Plc (78.02 per cent).

On the other hand, Jaiz Bank , Wema Bank Plc and Unity Bank Plc were the only counters with negative annual returns as their share price recorded respective declines of 49.60 per cent, 3.70 per cent and 3.64 per cent in that order. “Active investor participation was seen in the sector, as investors reacted to the inflow of favourable news within the space in a bid to position adequately for short-term and long-term profits. The sector’s performance was largely anchored by investors’ reaction towards the financial performance and corporate benefits of sector companies. We also note the impact of portfolio rebalancing activities and the year-end rally on the sector, as this drove most counters to their year-highs. In the coming year, we envisage increased participation within the space as we note that the sector is highly suited for speculative trading as well as long-term investments,� the analysts said. According to them, about the financial performance of companies in the sector, in 2018, they envisage a moderation in profit growth on the back of a decline in asset yield. “Therefore, even though we expect a positive return at the end of the year, we do not envisage gains as sizeable as that recorded in 2017,� they said.

Consumer Goods Sector MSL Following a barrage of bullish investor sentiments in 2017, the consumer goods space upturned the previous year’s loss to close the year in the green zone. The NSEFBT10 returned +36.97 per cent in the year, as the sector breadth for the year stood at 2.17x, reflecting 13 gainers and six losers.

DSR topped the gainers’ chart for the year, after recording a share price appreciation of 227.33 per cent. The ticker was trailed by International Breweries Plc (+194.59 per cent), Dangote Flour Mills Plc (+185.88 per cent), NASCON (+117.65 per cent) and Nestle (+92.10 per cent).

Conversely, Seven-Up Bottling Company Plc (-20.95 per cent), Enamelware (-20.80 per cent), Champion Breweries Plc (-15.10 per cent), Union Dicon Salt Plc (-14.17 per cent) and Nigerian Breweries Plc (-8.85 per cent) were the major underperformers for the year. “The sector benefitted from the all-round improvement in the state of the economy which triggered top and bottom-line growth in the companies, thus boosting investor confidence in sector stocks. In 2018, we expect the positive sentiments towards the sector to be sustained, as the improved FX environment and moderating

inflationary pressures should help stem the input costs of the companies and enhance growth in their earnings. We however do not envisage the magnitude of capital appreciation recorded in 2017 to be replicated given the effect of a high base,� MSL said.

Healthcare Sector According to the investment banking firm, the positive sentiments, which pervaded the general equities market in 2017 was reflected in the healthcare sector, as the sector returned +43.23 per cent, thus, emerging one of the best performing sectors in the year. The sector breadth settled at 2.50x as five stocks advanced, while two declined. The best performing stock for the year was Fidson Healthcare, as the counter appreciated by 189.06 per cent followed by May & Baker Nigeria Plc , which advanced by 176.60 per cent . Other tickers that recorded gains in the year were GlaxoSmithkline (+37.21 per cent), Pharma Deko Plc (+32.58 per cent) and Ekocorp Plc (+4.98 per cent).

Conversely, Morison Industries Plc recorded the highest decline, shedding 67.88 per cent.

Neimeth International Pharmaceuticals Plc fell by 3.8 per cent. “The bullish sentiments witnessed in the healthcare sector can be attributed to the impressive financial scorecards released by the companies during the year, as most companies recorded remarkable YoY growths, given the improved FX liquidity recorded in 2017. Moreover, the low base effect from the previous year boosted performance considerably. Also, it is worthy to note that Fidson Healthcare and May & Baker particularly witnessed strong bullish activity during the year, as the stocks attained their 5-year-high prices of N3.99 and N5.52 respectively,� they said.

In the coming year, MSL said they expect the positive momentum to be sustained, albeit, to a lesser degree, given the high base effect of 2017. “We expect the major driver of positive sentiments to be impressive earnings releases, as well as a generally upbeat market mood,� they said.

Industrial Goods The industrial goods sector was resilient in the year, upturning the losses recorded in 2016, as the MERI-IND index returned +31.14 per cent at the end of the year. As evidenced by the sector breadth which closed at 3.00x, the sector closed the year in favour of gainers, as there were nine gainers and three losers while other counters traded flat.

At the close of the year, CCNN emerged as

Positive sentiments dominated the insurance sector in 2017 , as the NSEINS10 gained 10.36 per cent . Sector breadth pegged at 2.00 with four tickers advanced, while declined while all others traded flat.

NEM dominated the sector for the second consecutive year, gaining 58.10 per cent. Continental Reinsurance Plc, Linkage Assurance Plc and AXA Mansard Insurance Plc appreciated by 41.41 per cent, 32 per cent and 15.57 per cent respectively.

Counters which dragged the sector’s performance in the year were AIICO Insurance Plc and Law Union & Rock Insurance which shed 17.46 per cent and 3.75 per cent in that order.

According to MSL, the positive performance of the sector was reflective of the positive mood in the Nigerian equities market. “We are optimistic about the growth prospects of sector companies in 2018, given projected infrastructural spending and efforts by the NAICOM to deepen the distribution channels for insurance products,� they said.

Oil and Gas Sector Despite the negative sentiments that trailed most of the oil and gas ‘ stocks, the oil and gas sector closed the year on a positive note, as the NSEOILG5 index advanced by 5.76 per cent at the end of the year.

There were three gainers and five losers at the close of the year, indicating a market breadth of 0.60x. Seplat was the best performing stock for the year, advancing 64.80 per cent, trailed by Eterna Plc (+30.97 per cent) and Oando (+27.45 per cent). Conversely, Forte Oil Plc closed as the worst performing stock for the second consecutive year as fell by 48.5 per cent. Other losers were: MRS Oil Nigeria Plc (-36.49), Double 11 (-30.25 per cent), Conoil Plc (-25.29 per cent) and Total(-23.09 per cent).

In their opinion, MSL analysts said the sector’s performance was majorly dragged by weak appetite for some of the sector’s large cap stocks following the unimpressive financial scorecards released in the year. “We, however, note that the renewed investor sentiment on Seplat in the last quarter of the year pushed the sector index to a positive close. In the coming year, while we envisage improved investors’ appetite towards players in the upstream segment, we expect the sentiments on most downstream stocks to remain largely unchanged. We however expect the performance of some large cap stocks to bring the sector to a positive close at the end of the year,� they said.

Services Sector The services sector closed the year upbeat, as some counters recorded triple digit growth in the year. The sector performance as measured by the MERI-SER index showed a 68.13 per cent return in the year. The sector breadth settled at 1.40x, as there were seven gainers and five losers.

C & I Leasing topped the gainers’ chart, after recording a 158 per cent. Also trailing the counter with a triple digit price advancement was Newrest ASL Plc(+138 per cent). Other top gainers were Transcorp Hotel Plc(+44.78 per cent), Caverton (+43.33 per cent) and NAHCO (+25.95 per cent).

Conversely, University Press Plc closed as the top loser, shedding 46.23 per cent Other losers were Trans nationwide Express Plc (-22 per cent), Capital Hotel Plc (-10 per cent).

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Furore over Cryptocurrencies Obinna Chima examines the raging debate surrounding the likely impact of cryptocurrencies on financial stability and the conduct of monetary policy The world of money and finance is transforming before our eyes. Digitised assets and innovative financial channels, instruments and systems are creating new paradigms for financial transaction and forging alternative conduits of capital.

In recent times, the rise in popularity of cryptocurrencies has been attracting the attention of investors in the global market, whilst it has remained a concern to regulators of financial institutions.

From the United States(US) to other countries in Europe and Asia, the allure to cryptocurrencies has continued to increase.

Indeed, investors in cryptocurrencies have been riding a tremendous bull run as it outpaced global stock market returns by huge margins last year.

A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. Cryptocurrency made the leap from being an academic concept to (virtual) reality with the creation of Bitcoin in 2009.

There are over 1,300 cryptocurrencies in the world, with Bitcoin as the most popular.

While Bitcoin attracted a growing following in subsequent years, it captured significant investor and media attention in April 2013 when it peaked at a record $266 per bitcoin after surging 10-fold in the preceding two months.

Bitcoin’s price rose stratospherically last year, a fact that left many players in the market with massive gains and many bigger players became millionaires.

As of December 18, 2017, the total value of digital currencies was just over $587 billion with bitcoin dominating. In fact, the market capitalisation of the Bitcoin only was $284 billion, with a price per coin of nearly $17,000 as of the abovementioned date.

But despite these, central banks as well as regulators across the globe, including the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have continued to issue warnings about the dangers of digital money, while some are considering supressing bitcoin or even creating their own versions of cryptocurrencies.

The regulators are worried that it might disrupt financial system stability, make financial institutions more vulnerable to cyber attacks, affect the bottom-line of regulated banks, shift lending beyond the regulatory perimeter and make central banks lose control of payments.

The Cryptocurrency Industry A report by the Cambridge Centre for Alternative Finance (CCAF) titled: “Global Cryptocurrency Benchmarking Study,� estimated that more than three million people (three times previous estimates) are actively using cryptocurrencies.

The 2017 report, which was authored

by Garrick Hileman and Michel Rauchs, showed that cryptocurrencies are increasingly being used, stored, transacted and mined around the globe.

The study gathered data from more than 100 cryptocurrency companies in 38 countries, capturing an estimated 75 per cent of the cryptocurrency industry.

It divided the cryptocurrency industry into four key sectors – exchanges, wallets, payments, and mining.

In terms of exchanges, it found that cryptocurrency exchanges provide on-off ramps to cryptocurrency systems by offering services to users wishing to buy or sell cryptocurrency. This sector was the first to emerge in the cryptocurrency industry, and has the most operating entities and employs the most people. Currently, about 52 per cent of small exchanges hold a formal government license, compared to only 35 per cent of large exchanges, the report stated.

Also, it noted that wallets have evolved

from simple software programs to sophisticated applications that offer a variety of technical features and services. As a result, the lines between wallets and exchanges are increasingly blurred, with 52 per cent of wallets providing an integrated currency exchange feature.

Similarly, the report stated that cryptocurrency payment companies generally act as gateways between cryptocurrency users and the broader economy, bridging national currencies and cryptocurrencies.

They can fit into two broad categories: firms that use cryptocurrency primarily as a “payment rail� for fast and efficient cross-border transactions, and firms that facilitate the use of cryptocurrency for both users and merchants. The study found that the size of the average business-to-business cryptocurrency payment ($1,878) dwarfs peer-to-peer and consumer-to-business cryptocurrency payments.

According to the report, in the absence of a central authority, cryptocurrencies are created by a process called “mining� – usually the performance of a large number of computations to solve a cryptographic “puzzle�.

The study showed how cryptocurrency mining has evolved from a hobby activity into a professional, capital-intensive industry in which bitcoin miners earned more than $2 billion in mining revenues since 2009. The cryptocurrency mining map indicates that a significant proportion of publicly known mining facilities are concentrated in certain Chinese provinces.

Furthermore, the study found that more than 1,800 people now work full time in the cryptocurrency industry, as more companies are engaged across various cryptocurrency sectors. “Cryptocurrencies such as bitcoin have been seen by some as merely a passing fad or insignificant, but that view is increasingly at odds with the data we are observing,�

Research Fellow at the Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School, who co-authored the study, Hileman said.

He added: “The advent of cryptocurrency has also sparked many new business platforms with sizable valuations of their own, along with new forms of peer-to-peer economic activity.�

Regulators Kick Apparently weighing in on recent desperation by Nigerians that invested in Ponzi schemes that promised mouth-watering profits, the CBN warned Nigerians against the use of virtual currencies, including bitcoin, ripples, litecoin.

It argued that virtual currencies are largely used in terrorism financing and money laundering, considering the anonymity of virtual transactions. “The attention of bank and other financial institutions is hereby drawn to the above risks and you are required to take the following actions actions pending substantive regulation or decision by the CBN,� the statement read. “Ensure that you do not use, hold, trade and/or transact in any way in virtual currencies. Ensure that existing customers that are virtual currency exchangers have effective capital AML/CFT controls that enable them to comply with customer identification, verification and transfer, monitoring requirements. “Where banks or other financial institutions are not satisfied with the controls put in place by the virtual currency exchanger/customers, the relationship should be discontinued immediately. “Any suspicious transactions by these customers should immediately be reported to the Nigerian Finance Intellignece Unit (NFIU).�

The apex bank said anyone trading in bitcoin was doing so at his or her own risk. “The CBN reiterates that VCs such as bitcoin, ripples, monero, litecoin, dogecion, onecoin, etc., and similar products are not legal tenders in Nigeria. “Thus, any bank or institution that transacts in such businesses does so at its own risk.�

Similarly, the NDIC has warned against the risk of trading with digital currencies.

The Director Research, Policy and International Relations, NDIC, Mohammed Umar, said the mandate of the corporation does not include providing insurance cover to risks associated with trading with digital currencies not issued by the CBN. “The financial regulatory authorities are not playing catch up on the digital currency race in Nigeria. There is no country in the world that allows its citizens to use digital currencies as money not issued by the Central Bank,� Umar stated. “No central bank will accept digital currency

as a substitute for its national currency or part of its monetary system, when it is not able to control it. “Nigerians must understand that adequate notice has been issued by all financial sector regulatory authorities, namely CBN and NDIC, to warn Nigerians who want to trade in bitcoins as gamblers. “They can only do so at their own risk.

The CBN cannot say anyone cannot trade with it and NDIC will not insure any trading in any currency not issued by the CBN.�

Presently, the director said an inter-agency committee, involving the NDIC, Ministry of Justice, Economic and Financial Crimes Commission, EFCC, Nigeria Police, Department of State Security, DSS and other relevant agencies, had been established on the development.

He said the committee, with its secretariat at the CBN, would closely monitor the activities of digital money operators to ensure Nigerians were not exposed to unnecessary risks. “If you can buy a bitcoin, nobody will stop you. It is at your own risk. A bitcoin is not covered by the CBN rules, and NDIC will not insure it.

We have consistently warned Nigerians that anyone who trades in bitcoin does so at his own risk,� Umar said.

Beyond the concerns raised by the CBN and NDIC, the United States’ Federal Reserves, the European Central Bank, the People’s Bank of China, the Bank of Japan, the Bank of England, Bank of France, among others, have also cautioned against the use of Bitcoin, just as some have indicated that they were still studying the situation.

Beyond the concerns raised by the CBN and NDIC, the United States’ Federal Reserves, the European Central Bank, the People’s Bank of China, the Bank of Japan, the Bank of England, Bank of France, among others, have also cautioned against the use of Bitcoin, just as some have indicated that they were still studying the situation.

Therefore, as cryptocurrencies grow, there is need for central banks across the globe to look for ways to forge partnership with the fintechs. This corporation would be necessary to make things smoother and dispel the fears that had been expressed as well as create better understanding for investors.

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T H I S D AY WEDNESDAY JANUARY 3, 2018

T H I S D AY WEDNESDAY JANUARY 3, 2018

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BUSINESSWORLD

INTERVIEW

‘Trustees Provide Comfort, Safety to Parties in a Transaction’ The Managing Director/CEO, STL Trustees, Funmi Ekundayo spoke to Nosa Alekhuogie on the role corporate trustees play in protecting investors and what her company has to offer. Excerpts: Your company, STL Trustees recently emerged as the “Non-interest Trustees of the Year 2017� during the third African International Conference on Islamic Finance organised by The Metropolitan Skills Limited in conjunction with the Islamic Finance Council and the Islamic Finance Institute of Southern Africa. What values or operating culture do you think helped you to achieve this feat?

Thank you. At STL Trustees our core values are integrity, professionalism, commitment and innovation and these values ensure that in dealing with clients, whether individual or corporate, we strive to always deliver trust solutions that are guaranteed to meet their needs on a continuously satisfactory basis.

Also, because we operate in an industry that is extremely dynamic, we train and retrain ourselves towards ensuring that we continuously deliver quality and innovative services with the required speed to excite our clients.

STL Trustees is a delegate trustee to the first Sukuk issuance in Nigeria, the State of Osun Sukuk Al-Ijara, which was issued by the government of the State of Osun to finance the construction of modern elementary, middle and high schools in the state. We are also a delegate trustee to the first sovereign Sukuk to be issued in Nigeria, the N100 billion FGN Road Sukuk 1, which was issued by the federal government to fund the construction and rehabilitation of some roads across the six geo-political zones in the country.

Essentially, our ability to anticipate, meet and surpass the needs of our clients are some of the factors that helped us to win the award.

Talking about the nation’s economy as a whole, tell us how corporate trustees contribute to the nation’s economic development?

Trustees play critical roles in business transactions. What every investor requires is peace of mind. Anyone that is parting with value - whether you are a bank that wants to lend to a corporate entity for any reason whatsoever – wants to be sure that the money will be repaid with interest and as agreed. So, I would say that we are the gate watchers. We protect investors. We create comfort to all parties on a commercial transaction.

Most credit transactions with banks are not complete without a trustee because the trustee provides the requisite comfort to both the bank which is lending the money and the borrower that the terms of their agreement will be fully complied with. And who monitors the terms? It is the trustee. So with that, a financial provider in a transaction feels secured with the fact that a trustee will monitor all the obligations and ensure that all the terms of the obligations are complied with from the beginning to the end of the transaction and everybody is happy. So it is a win-win situation. And what makes an economy grow? trade,ability to invest, and conducive environment. So if you want to look at it from that perspective, trustees help to facilitate that.

So coming to bond trusteeship, which is also a very significant part of the role we play as a trustee, Nigeria is a frontier economy, which means that we still have a lot of infrastructural gap. Whether you look at it from the federal or state government perspective, there is a wide deficit gap to be filled. Now, what do most states do? They come into the capital market to raise capital. We call it debt capital or the bond. For them to raise those bonds, investors will have to part with their own money so that the states can have instant cash to carry out long-term infrastructural projects. When they carry out those projects, the country is better for it. The populace are happy. Even, the states can also increase their internally generated revenue (IGR) through that process. However, don’t forget that some people have parted with their own capital ab initio and these people need to be paid back. So all of the interest of the investors is put in one person and that is the trustee.

The trustee ensures that the mode of repayment

Ekundayo

is secured. For states mostly, they have their facts. A lot of the securities for the repayment of the investors come from state’s sinking funds.

Irrevocable Standing Payment Order (ISPO) is put in place after necessary checks have been run by the Ministry of Finance and the Debt Management Office (DMO) to ensure that the state does not go above the threshold that is regulatorily provided for. Once we go through all those processes, the Trustee is the receiver of the sinking fund that will be used to repay both the principal and the interest payments to all the investors from the beginning of the transaction up unto maturity. So again, you can see the roles that trustee are playing in national development.

When we compare Nigerian corporate trustees to those in other countries, where do we stand?

Trustee business in Nigeria is evolving fast.

Government and business owners are beginning to understand the role of trustees and how cardinal the involvement and participation of Trustees is in structuring and managing debt capital and bank credit transactions. Comparatively, corporate trustees in Nigeria have come a long way from the previous situation where corporate trustees used to be regarded as fringe players in transactions to playing a more central role in transactions. This, however, does not apply to private trusts where the awareness of the importance of trustees is still at rudimentary stages even amongst more sophisticated individuals.

However, efforts are being made at industry level to continue to increase the awareness of the importance of the role of corporate trustees in the country.

Tell us the roles of corporate trustees in modern wealth and asset management?

Trustees help people to plan the future of their generations because when you have a trust in place you will be able to easily and seamlessly transfer wealth from one generation to another.

And then the issue of having family friction, bickering here and there is significantly reduced.

If you have a trustee, you would have given a very clear instruction on how your estate should be managed or transferred. It is a wealth transfer

process that helps to avoid your assets going into the wrong hands or mismanaged or misused.

You can even create a living trust for yourself which begins to run while you are around. Our society is replete with stories of families fighting over properties. That is why people shouldn’t allow their estates to go through such mess.

When siblings who ordinarily should be united now become sworn enemies because of family properties, then it is a mess. But once you have a trustee, you can go to sleep and be rest assured that your estate will be fine and everything will be implemented in line with your instructions.

As the immediate past president of Association of Corporate Trustees (ACT), what do you consider to be the challenges facing the industry?

One of the challenges facing the industry is that of awareness. The ACT is, however, working hard to ensure that a layman on the street understands what the concept of trusteeship is all about and how it can be beneficial to them.

Also, in the area of regulations, we would want to see a complete overhaul of the key laws that guide the practices of trusteeship business in Nigeria, basically the Trustees Act and the Trustees Investment Act. These laws are more than 50 years old and some of them still rely on the practices of common law and we think it’s about time that the National Assembly came up with some needful amendments to these statutes. The ACT will be happy to engage the legislature in this regard and contribute our quota to the proposed amendments.

In the area of private trusts which involves Wills and Living Trusts, our social-cultural belief is another challenge as a lot of people continue to view it with superstition. No matter how religious some people may be, the need to have an estate plan in place frightens them and they keep procrastinating and postponing until it is too late to set up a plan.

However, in terms of the laws regulating our business, I would like to commend the Securities and Exchange Commission (SEC)’s efforts at creating rules as the need arises and

updating them from time to time. This has been very helpful.

Tell us some of the products on offer at STL Trustees In order to simplify the concept of trusteeship for our customers and make same readily available no matter an individual’s income level, we have a bouquet of customized retail products tailored to meet the needs of individuals across a broader spectrum. These products are: Controlling your Retirement Voluntarily (STL CRV).

STL CRV is a savings product which has been designed for income earners who are mindful of preparing ahead for post-retirement from paid employment, in addition to the mandatory Pension Contributions under the law as well as self-employed individuals who want to secure their future, when they would be less active and earn lower income. The product is targeted at the middle to lower income group and ensures that they are able to maintain a lifestyle akin to what they enjoyed while active. It is pertinent to also add that this product has an insurance benefit and the contributor gets a specified amount on the happening of certain events. The insurance premium is separate from the funds contributed and the income generated from the management of the funds as the premium for the insurance is paid by STL Trustees.

There is also STL Target, which is specifically designed for persons who would wish to set aside some funds to meet a particular need at some determinate time in the future. The advantage of this product is that it simplifies savings for events by the client and ensures that the funds are available for the required purpose.

We also have an educational product tagged STL CET. STL is a CET Child Education Trust designed to enable you set up a trust fund for the education of your child or children.

STL Trustees will hold such funds under a trust instrument as trustees to the named beneficiaries and preserve the funds, including all accumulated income thereon in trust for your named beneficiaries. The contributions for this product is periodic and gradual to enable one build up the fund to achieve the desired objective. One can also make lump sum payment if desired.

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BUSINESSWORLD

PERSPECTIVE

Impact of I &E FX Window Arize Nwobu highlights the impact of the Investors’ and Exporters’ FX window created by the CBN on the equities and foreign exchange market The impact of the Investors’ and Exporters’ (I&E) FX Window, created by the Central Bank of Nigeria(CBN), on both the FX market and stock market has been positive and magical, which demonstrates how innovative financing ideas can generate energetic inflows into the financial system and economy towards spurring growth . Innovation, the core of entrepreneurship, is one of the four major factors necessary for economic growth and transformation; others being, infrastructure, education and technology.

Economies that fail to transform themselves will fall off the path of growth, as noted by Peter Howitt. The Nigerian economy fell off the path of growth in 2016. As a mono-product economy which has been factor-driven for 57 years, the economy is more prone to shocks in a globalized economy with changing perspectives.

The Nigerian economy need to be diversified, with more innovative monetary and fiscal policies, financial products, and a greater tilt to a marketbased financing system, in addition to other innovative ideas that could spring from deep systems thinking and powered by technology to engender growth and rapid transformation.

The I&E Window was established in April 2017, ‘’to boost liquidity in the FX market and ensure timely execution and settlement for eligible transactions as stipulated by CBN. The operating modality is on a willing buyer, willing seller basis. The exchange rates of the transactions are as agreed between authourised dealers and their counterparties, which engender transparency and liquidity.

Eligible transactions to access the Window are, Invisible Transactions (excluding International Airlines Ticket Sales Remittances), Bills for Collection, and Any other trade-related payment obligations(at the instance of the customer).The Invisible Transactions include, capital repatriation, loan repayments, loan interest payment, dividends/income remittances and consultancy fees.

Others are, software subscription fees, technology transfer agreement agreements, personal home remittances and other such other eligible invisible transactions including ‘Miscellaneous Payments’ as detailed under Memorandum of the CBN Foreign Exchange Manual. The permitted Invisible Transactions and Bill for Collection are eligible to purchase US Dollars sourced from

CBN Governor, Godwin EmeďŹ ele

CBN FX Window to Secondary Market Intervention Sales(SMIS) Wholesale(Spot and Forwards) only.

In a circular, dated April 25, 2017, CBN noted that, ‘’supply of foreign currency to the Window shall be through portfolio investors, exporters, authourised dealers and other parties with foreign currency to exchange Naira. The CBN shall also be a market participant at this Window to promote liquidity and professional market conduct.’’ Prior to the establishment of the Window, the economy had cooled off and plunged into recession in August 2016, when the National Bureau of Statistics (NBS) reported that GDP dipped by 2.06 per cent for the second quarter in 2016.

Recession is characterised by business cycle contraction and general slowdown of economic activities with drop in outputs, rising unemployment and more borrowing by government.

Major factors that contribute to the recession include a drastic fall in global oil price, depletion of external reserves and flight of foreign investors. As a result, dollar became scarce and many

Russel Smith Partner 4Subsea to Deliver Asset Optimisation Russel Smith Nigeria has sealed a technical partnership with Norwegian company 4Subsea to collaboratively deliver subsea solutions by combining engineering competence, experience and technologies for effectively ensuring the lifespan of subsea assets.

4Subsea is a global leader in the provision of innovative, cost-effective subsea asset integrity management technologies with operations in several countries. 4Subsea’s areas of expertise include; flexible risers and flowlines, well intervention and drilling, digitization, sensor technology and offshore wind.

This partnership will see RusselSmith improve its monitoring and repair services

for flexible pipes, umbilicals and ancillaries. Of particular note is 4Subsea’s Portable Annulus Tester (PATTM), a field-proven product that automates integrity testing of flexible risers, and which will be fully available to customers in the Nigerian Oil and Gas Industry as a result of this partnership.

This alliance further reinforces RusselSmith’s commitment to providing innovative solutions and technologies in its subsea asset integrity management business division to its customers.

According to RusselSmith’s Senior Executive Vice President, Kayode Adeleke, “We are very pleased to announce this strategic partnership with 4Subsea.

The partnership will improve our service delivery and drive greater customer success as we continue to create more value in the Nigerian Oil and Gas Industry by delivering quality services and building local capacity�. “We are excited about building a partnership with RusselSmith, whose experience and capabilities are important factors in ensuring life extension of subsea assets in West Africa�, says Peter Jenkins, CEO of 4Subsea. “We believe that the introduction of innovative, automated monitoring and repair solutions for flexible risers will help operators reduce both risk and cost,� he added.

factories either shut down completely or operated at suboptimal capacity.

The development triggered a gale of downsizing across subsectors of the economy, including banks. And, in turn, dollar scarcity fuelled massive speculative trading on the green back which contributed to plunged Naira to an all time low of N590/$1.

The establishment of I&E Window offered a panacea in the maze. In six months of its establishment, between May and October, 2017, the Window, reportedly attracted an inflow of $10 billion, and $20 billion to date. The Window reenergized the FX Market and production and the PMI has since been looking up, steadily. CBN has continued to sustain dollar supply on the back of increasing external reserves which increased to $33 billion in October, 2017, from $23 billion in October 2016, and is projected to hit $40 billion in 2018.

The impact of I&E Window also resonated at the stock market. In a typical demonstration of its intrinsic nature as an information-driven market, the stock market reacted positively and power-

fully even ahead of the establishment of the Window. The market, which, reportedly, had been bearish for five days became bullish on the news of the pending establishment of the Window, and wiped off a seven day trading loss with an additional traded value of N294 billion across all sectors.

Stakeholders have commended the positive impact of the Window on the economy. The Lagos Chamber of Commerce (LCCI), in its Q3 review of the economy, noted that, ‘’CBN has been consistent in its intervention in the FX market. This has helped to reduce exchange rate volatility over the last two quarters. With the intervention, we have seen improved liquidity of forex and stability of naira against the dollar.

Confidence is gradually returning to the market and we hope that this would be sustained.’’ And, in a report released in October, 2017, the World Bank, noted that ‘’government must sustain the regime of the free flow of foreign exchange into the economy through the newly established Investors’ and Exporters’ Window, which has helped to resolve the challenges of foreign exchange scarcity with flows into the economy through the Window in excess of $7 billion.’’ The economy exited recession in Q2, 2017, with a fragile growth of 0.55 per cent, Year-on- Year in real terms, which is 2.04 per cent higher than the corresponding quarter in 2016(-1.49 per cent).

The World Bank noted that the recovery was on the back of improving global conditions, including surging capital flows and rising energy.

On the outlook, the Bank projected that the Nigerian economy would grow at a modest rate of one per cent in 2018, and South Africa by 1.5 per cent, against sub-Saharan Africa’s estimate of 3.2 per cent in 2018 and 3.5 per cent in 2019. It further noted that ‘’most African countries must pay attention to skills-building through smarter investments in foundational skills for children, youth and adults and leverage spending to achieve better learning outcomes to enhance productivity growth, inclusion, and adaptability of Africa’s workers to the demands of today’s markets and those of the future.’’ t/XPCV #VTJOFTT +PVSOBMJTU BOE $IBSUFSFE 4UPDLCSPLFS XSPUF WJB BSJ[FOXPCV!ZBIPP DPN 5FM

CitiServe Introduces OrangeBox Retail Platform to Merchants Citiserve has introduced its new innovative distribution platform to its merchants at its quarterly merchant congress. By holding its merchant congress, Citiserve, as a company devoted to pushing the cashless Nigeria initiative, creates an opportunity for its merchants to give feedback on its services, the industry initiatives, and get suggestions from the frontline on how to enhance the cashless Nigeria initiative.

The merchant congress creates a comfortable environment for the merchants to talk about their concerns on payments and the payment value chain in

general. Citiserve also used the opportunity to introduce the merchants to its new value proposition- the OrangeBox retail platform.

The OrangeBo Retail platform i s a n i n n o v a tive digital distribution pl a t f o rm t h a t c rea t es and d el i v ers v a l ue t o t h e l a st mi l e by pro v i d i n g i n c ome opport un i t i es i n t h e sa l e of e-products as well as ph ysi c a l pro d uc t s v i a the OrangeBox point-ofsales (PoS) device to the consumer. This platform leverages on the OrangeBox PoS which is a merchant device with a wallet system that accepts card and cash

payments and transactions respectively. The platform is flexible and adaptable with a human face. It also gives all merchants that have the Orangebox, the opportunity to enhance their income through the sale of e-products and Physical products.

The platform with over 49,000 OrangeBoxes panNigeria offers product owners a deep and penetrating distribution channel delivering availability, accessibility and increased profit. Its range of product include Airtime, Pay/cable TV, Power/utility bills (token), Lottery, Internet, Insurance, Money Transfer and much more.

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EDUCATION 2018: Moving Education Forward through Transparency, Commitment

As schools across the country prepare to resume academic activities after the Christmas and New Year holidays, with parents having to grapple with their children’s school fees, coupled with the recession of 2017, experts opined that there must be transparency and commitment to move the education sector forward. Funmi Ogundare reports

Nigerian students are yearning for an improved education sector

The education sector in 2017 has come and gone with its challenges, in spite of these, President Muhammadu Buhari has promised a better deal for the sector.

At a summit on education held in Abuja on November 13, 2017, he promised to strengthen the Ministerial Strategic Plan, saying that his administration is committed to revitalising the education system by making it more responsive and globally competitive.

He admitted that “our country is facing numerous challenges in education and other sectors as a result of historical abuses, mindless impunity and corruption. “With an estimated 13.2 million children out of school, high illiteracy level, infrastructure deficit and decay, unqualified teachers and inadequate instructional materials, just to mention some of the challenges, we can clearly see the effects of decades of neglect that the education sector has suffered. “We are determined to turn around the sector for the better, we are already making appreciable progress in this respect. This summit must therefore, among other things, sharpen our strategies for addressing the challenges of basic and secondary education, teacher training and professional development, technical and vocational education. “The summit must work to enhance quality in, and access to higher education and other challenges in the sector that will debar us from attaining the SDGs and be among the top 20 economies in the world.�

Towards the end of the year, precisely on December 29, the president approved the constitution of the governing boards of agencies and parastatals under some ministries.

The constitution of the boards with the appointment of chairmen, according to a statement from the office of the Secretary to the Government of the Federation, was a demonstration of government’s efforts aimed at building strong institutions of governance and improving the quality of policy formulation and supervision.

According to the statement, “the appointments take immediate effect and ministers are advised to inaugurate the boards after letters of appointment have been issued.�

Perhaps considering the remarks of the president, some experts are of the opinion that a way forward cannot be charted without considering the present situation and the limitations that currently exist.

Sharing his expectations for the education

sector in 2018, a former Vice-Chancellor of Ondo State University of Science and Technology (OSUSTECH), Okitipupa, Professor Tolu Odugbemi stressed the need for the country to determine what suits it economically and socially, and be prepared to fund those ideas or actions relevant to societal needs.

He highlighted some of the factors hindering good standards in education to include bad planning of curricula of institutions, misconception of what the mission of various levels and types of educational institutions should be even by owners of such institutions, attitude of workers/staff which may in part be due to poor remuneration. He expressed concern that most workers have to fend for themselves through alternative sources of income which may be legal or illegal, ethical or unethical because various owners, in particular government agencies do not pay monthly salaries and allowances of staff and their workers as and when due. “It is counter-productive not to pay staff their salaries and allowances as and when due. Such situations result in an unproductive workforce. There is also the major issue of incessant strikes. Strikes due to many of the reasons already mentioned above. In order to get better and effective results for products of our institutions, there must be reorientation to provide insight or a way forward for government, unions and staff, students and other stakeholders, parents, employers of labour, among others.�

He stressed the need for political will on the part of the government which should be focused on quality, adding that it is not the quantity of universities in any area/state/nation that matters, but the quality. “Universities for example are centres which thrive on the passion in knowledge gaining and transfer, and societal development. Our universities have to work hard with the right and eminently qualified staff with passion for education, excellence and break-through to impact the society positively. Many universities are not fulfilling their mandates of teaching, research and community development,� Odugbemi, a former Vice-Chancellor of the University of Lagos said.

He observed that local communities see universities sited in their domains as local community institutions for employing all their community members at any time without recourse to the needs of the institutions or budgetary allocations and societal relevance. “In the past, our universities in Nigeria

recruited top scholars and administrators from USA, UK, India, Canada, Egypt, Ghana and other commonwealth countries, furthermore students from these other countries come to our tertiary institutions to study.�

Odugbemi expressed concern that Nigerian students now move to other countries where they pay heavily to attend institutions abroad to cover accommodation and tuition. “I must point out that these institutions situated abroad are really well-equipped with assorted learning resources. Universities are supposed to be international and contributions should not be of mean value. “There is an urgent need for reorientation of various communities to note that universities located in their communities will certainly influence their communities one way or another through outstanding research output that will make the outlook of university towns better.�

The former VC argued that appropriate criteria for appointments and promotions of principal officers, staff and administrators are often bent by ill-qualified university leaders, stressing that “we must make our universities truly universal and of highest standards to make them solve societal problems. “Universities need to be properly funded to make institutions have solid infrastructure and attract and retain good and great staff and push out meaningful research findings. “There must be orientation programmes that will re-educate communities to raise funds to offer scholarships to their needy indigenes and donate in cash and in kind to achieve desired positive results.�

He however noted that funding remains a big challenge in Nigeria and even in developed countries like Canada, USA and UK, adding that with great institutions, funding is critical which includes exploring all other sources to make institutions viable and optimal.

Aside government subventions, he listed other potential sources of funding which must be explored to include government grants and interventions (to address specific matters, school fees, levies, PTA support, donations, IGR, partnerships, contributions from alumni and alumnae, taxes, as well as research findings through patents and consultancy). “Generally, individual institutions should carefully consider their funding needs and the governing boards/councils should apply what suits their own context so far the end-products will be relevant in making the society better.

As with any organisation, the principles of teamwork, transparency, courage, sincerity and welfarism are required to move our education sector forward,� Odugbemi stressed.

A lecturer at the Department of Mass Communication, Lagos State University (LASU), Dr. Tunde Akanni recalled the unprecedented record set by the Joint Admissions and Matriculation Board (JAMB), saying that the move by the board to spring reassuring hope means that it will impact on the youths, as well as the country. “Those who are JAMB’s clients are the supposed leaders of tomorrow, so if JAMB springs some reassuring hope, it will be trans generational as this will inevitably impact on our young ones that all hope is not lost and that efforts of individuals like Professor Oloyede will hopefully enhance the country’s glory.�

He expressed concern about the uncertainty of teachers’ fate in the hands of government agencies across all levels, while recalling the indictment of TETFund for MRA (Media Rights Agenda) hall of shame. “TETFund has become one habitual disrespecter of the rule of law.

Many university teachers have also expressed total loss of confidence in the agency for lack of transparency and efficiency which it can’t controvert.�

Akanni stressed the need for the Minister of Education, Mallam Adamu Adamu to pay more attention to public comments and yearnings on the performance of agencies under his ministry.

The Director of Edumark Consult, Mrs. Yinka Ogunde said: “I have often said the country should embark on a nationwide training of teachers using technology, adding that this would inspire and build their confidence.

She added that with commitment and will to drive it, the country could create a culture among educators that will turn them to real nation builders. “A lot of things are not really about money, it is more about ideas and strategies. It is about putting the right people at the helm of affairs. It is about selling hope to the people and showing that we can do it. We need to embark on a train-the-trainers programme. “We need to revisit the quality of those who are making policy decisions on education and create a vision for the sector to motivate everyone and show that truly things are changing. We need to provide basic infrastructure for our children. 2018 is a year that we must begin something,� Ogunde said.

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EDUCATION

Business Ventures, Key to Survival of Nigerian Varsities, Says VC Victor Ogunje in Ado Ekiti Business and research innovations have been described as potent weapons that can boost the ranking of Nigerian universities to match their counterparts in advanced countries.

It was declared that the only way universities can subdue the perennial problem of underfunding causing poor rating of Nigerian universities on Webometric Ranking is by stepping up efforts that can bring appreciable increase in the revenue generation of higher institutions.

The Vice-Chancellor of the

Ekiti State University, Prof.

Samuel Oye Bandele, who said this in Ado Ekiti, disclosed that his administration has embarked on aggressive revenue generation through the establishment of some business ventures. According to him, the monthly wage bill of the university stands at N500 million, while the state government released N270 million as subvention, saying that it behooves on him to look inwards to be able to meet the demands of the university for proper functioning.

Bandele, who commended Governor Ayodele Fayose for considering issues relating to

EKSU to be of priority, appealed for more funding from the state in the overall interest of the university. “The global recession makes it expedient for university managers to think outside the box. Our university is making aggressive drives in rice, water and block production. The EKSU Rice and EKSU Water are now making waves in Ekiti market, while the bakery industry is in the pipeline. “EKSU Fish, Cow and Poultry are also doing well, while the moribund university press has been resuscitated to generate funds for the university.

“We know it will be difficult to increase the tuition fees, I won’t even dabble into that because the students may not want to hear that; but if we fail to take all these actions, the university could not have been stable in terms of academic calendar due to incessant strikes we would have been witnessing. “I want to thank members of ASUU, NASU and SSANU for their understanding. Though they know that I am a vicechancellor who places priority on workers’ welfare, they know I don’t joke with it, because it is their rights. “When I came on board,

I addressed the issues of outstanding promotions and allowances. Though we have not been able to meet all our obligations to them, we will try and ensure that no staff or student of this university suffers unduly for lack of funds�, Bandele promised.

He said the National Universities Commission (NUC) has given the university the nod to run some lucrative courses like Insurance, Actuarial Science, Educational Technology, Marketing, Library Studies, Industrial Relations, Anatomy, Physiology, Tourism and Entrepreneurial Studies. “Before we came on board,

EKSU was no longer attractive to students because we only offered traditional courses.

But with these new courses, our admission strength has gone up.�

Bandele added that he is planning to introduce the Faculty of Environmental Science to prepare grounds for the running of more professional courses like Architecture, Building Engineering and Estate Management. “We are also planning to stabilise the Medicine and Surgery course and to ensure that the Faculty of Pharmacy takes off before the end of my tenure.�

187 Institutions BeneďŹ t from TETFund’s Sensitisation Exercise Kuni Tyessi in Abuja A total of 187 federal and state tertiary institutions in the six geo-political zones of the country have benefited from the sensitisation and awareness exercise carried out by the Tertiary Education Trust Fund (TETFund).

The exercise could not take place in 11 institutions due to the industrial action by the Academic Staff Union of Universities (ASUU) during the period, as well as other circumstances.

The Executive Secretary of the fund, Dr. Abdullahi Baffa, said some of the encumbrances were as a result of lack of adequate information and unnecessary ambiguities created by some desk officers and staff of beneficiary institutions.

He explained that the seminar was not only to clear grey areas through detailed presentation of the requirements for each of the fund’s intervention lines, but also to ensure a more cordial and effective collaboration between the beneficiaries and management of the fund. “It is important to state that the sensitisation exercise was

in furtherance of the various attempts made in the over 20 years of the fund’s existence to ensure that beneficiary institutions access funds allocated to them for physical infrastructure, library development, research and publication, academic staff training and development, etc. “By the guidelines of the fund, beneficiary institutions cannot access funds except they properly retire monies earlier disbursed for their projects and programmes. Many of them are unable to satisfy this key requirement, which was introduced to ensure judicious utilisation of the funds and value for money. The effect of this has been huge accumulation of un-accessed funds running into billions of naira.�

During the sensitisation workshop, teams drawn from the relevant departments in the fund such as Project Management, Monitoring and Evaluation, Academic Staff Training and Development (AST&D), Education Support Services and Internal Audit Unit made presentations showing the guidelines for the various interventions and the need for full compliance.

Expert Urges Engineers to be Solution Providers Shola Oyeyipo Nigerian engineers have been advised to become solution providers, particularly in the area of infrastructural deficit, as well as other problems confronting the country.

Mrs. Titi Omo-Ettu, who gave the advice recently during the fourth engineering induction lecture at the Bells University, Ota, for the 2017/2018 engineering graduates titled ‘Engineers as Total Solution Providers in the Emerging Knowledge and Information Age’, said engineers are expected to provide solutions to societal challenges. Charging the students, she said, “today’s engineer looks right, sees a human problem, develops solution to it and sells his/her solution

to the highest bidder who he must also find.� Her advice was encapsulated in what she calls ‘10 Things’ young engineers should accept responsibility that they are the solution providers of today, must read widely, train continuously and synergise with other professionals. “To make this effective, they should work in teams.

They should see their environment as their constituency, communicate effectively, be fair and ethical and learn to choose wisely.�

In his remarks, the ViceChancellor, Professor Jeremiah Ojediran commended the college for always hosting the annual ceremony with the best brains as the guest lecturer to deliver the inspiring lectures.

L-R:The Vice-Principal, Grace High School, Lagos, Mr. Philip Balogun; the Administrator, Mrs. Olatokunbo Edun; and Head, Grace Children School, Dr. Nike Akindayo, during the school’s 50th anniversary press conference‌ recently

Jega Lauds Sokoto’s Budgetary Allocation to Education A former Chairman of the Independent National Electoral Commission (INEC), Professor Attahiru Jega, has commended the Sokoto State government for allocating 26 per cent of its 2018 budget to education, saying that the move will help in addressing numerous challenges facing the sector.

Speaking at a youth and students’ summit organised by the Federation of Sokoto State Students’ Associations in Sokoto, Jega blamed the seem-

ing lackadaisical approach to funding of education in Nigeria for low standards in the sector. “Nigeria as a nation has never allocated up to 15 per cent of its budget to education.

I was abroad and reading a newspaper when I came across a news item that Sokoto State governor has allocated 26 per cent of the state’s budget to education. This is very commendable and I hope the figures won’t come down in the next budget.�

According to him, for the necessary impact to be made, all stakeholders must be on the same page and must exhibit the same determination to achieve success.

He said even if the governor of Sokoto State and his officials are willing to promote education, if other stakeholders and the communities lag behind, little success will be achieved.

Jega urged the participants at the summit to pay attention to education and commended the

student leaders for the positive activism they exhibited by organising the event. “My involvement in student activism and unionism and subsequently my involvement with the Academic Staff Union of Universities (ASUU) are the foundation of whatever I have become in life. “So it is very important that as youths, you pay attention to your studies and show commitment to the service of others in your communities

Stakeholders Advocate Skills-based Education System Ikenna Ekwerike Discussants at the Accenture Nigeria Alumni Network event recently held in Lagos with the theme ‘Re-imagine Education for the Fourth Industrial Revolution’, have advocated a purposeful basic education system in Nigeria that equips children with skills by taking advantage of the opportunities provided by modern technology.

This was part of the company’s corporate social responsibility programme tagged ‘Skills to

Succeed’.

The panel discussion underscored some of the challenges bedevilling education in Nigeria which include: high rate of out of school children, poor teacher quality, curriculum quality and unfavourable legislations.

One of the discussants, the Director of Education, Corona Schools, Amelia Dafeta, said there is need to evolve a school curriculum that takes care of the particular needs of Nigeria. She suggested a kind of curriculum that would place agriculture

in the front burner; expressing regret that children don’t seem interested in taking up careers in the sector.

Dafeta expressed hope that technology could be effectively deployed to increase the interest of street children in learning.

The Proprietor of Global International College, Mrs. Bolaji Esime, said lowering the Unified Tertiary Matriculation Examination (UTME) score for admission into colleges of education was equal to bringing down the quality of teachers, adding

that the curriculum should be designed separately to meet the need of each region.

According to Ms. Utibe Henshaw of the Education Partnership Centre, there is need to standardise the quality of people that get into teaching.

She called for advocacy and lobbying of government into paying more attention to the adoption of technology in the basic education system. “The solutions to all of Nigeria’s problems are all here; it means listening to all.�

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Ministry Partners SFH to Combat HIV/AIDS in Schools Kuni Tyessi in Abuja The Ministry of Education, in collaboration with the Society for Family Health (SFH), has presented a report that will help combat the scourge of HIV/AIDS in the education sector.

The Minister of Education, Mallam Adamu Adamu presented the report at the official dissemination of report of the

impact evaluation of family life HIV/AIDS education in Abuja.

Adamu, who was represented by the Director, Education Support Services in the ministry, Mrs. Justina Ibe, said the initiative was borne out of the need to equip in-school youths to abstain from pre-marital sex.

He said the dissemination of the draft report was a scientific

declaration that used curricular and co-curricular strategies to communicate sexuality information to adolescents by the education sector.

According to him, the awaited dissemination exercise was delayed after the exit of the Global Fund Round 9 Phase 2 interventions on HIV/AIDS in schools. “To fill the gaps and sustain this good initiative, Famliy

Life HIV/AIDS Education (FLHE) embodies the new vision and effort to combat the HIV/AIDS scourge in the education sector. “The exercise is a holistic effort to move the country forward and create a better HIV free society for young people. I implore that as partners, we should all contribute our quota for the success of the exercise.�

The Chief Whip, Anambra State House of Assembly, Hon. Beverly Ikpeazu-Nkemdiche (ďŹ fth left); the Vice-Chancellor, Chukwuemeka Odumegwu Ojukwu University, Anambra State, Prof. Fidelis Okafor; guest speaker, Prof. Jerry Agada and others at the fourth Literati Philosophia Prof. Fidelis Okafor Annual Lectures held at the Igbariam Campus of the university‌ recently

Winners Emerge in Mental Maths Contest Funmi Ogundare Winners have emerged in the mental mathematics competition organised for senior secondary one (SS1) and SS two students by Like the Stars Initiative, a non-governmental organisation with focus on mind development of the girl-child and educational advancement in the Niger Delta Region.

The keenly contested competition saw Master Wisdom Onianwa of Faith Academy, Asaba emerge as the overall winner, while Miss Ikechukwu Paula Petra of Our Ladies of Nigeria Secondary School, Oghara came second.

Odize Goodness of Challenge Academy, Udu came third at the finals which held at Government College, Ughelli.

Speaking at the just concluded competition organised in partnership with the Delta State Ministry of Education, the Executive Director of the organisation, Miss Dele Dudusola said the

competition was designed to help students show their brain power, unleash hidden skills, acquire good retentive memories and equip them for the increasingly competitive challenges of the 21st century, adding that emphasis should be placed on higher mathematical reasoning, sound qualitative and quantitative analysis. “The solution to global and local challenges will require new knowledge, mathematical calculations and high mental intelligence, especially from young boys and girls. I am so delighted that today we have among our finalists, girls who have shown courage, knowledge and discipline in this competition and we will continue to encourage them to remain good moral ambassadors to other young girls in joining us to spread the message beyond mental power.�

She said 30 schools were invited to represent each senatorial zone in the state,

storming mental mathematics quiz competition which is the first of its kind in Delta State.�

The state Coordinator, Head Admin and Human Resources, Niger Delta Development Commission (NDDC), who was represented by Mr. James Odafe Fole, commended the organisers, saying that the competition is in line with NDDC’s vision and mission to transform education in the Niger Delta. “This superb competition is borne out of a vision to ensure that the good objectives of NDDC especially in the area of Science, Technology, Engineering and Mathematics (STEM) are achieved. Today, these students have made us proud and I will take back the message to the NDDC board and management.�

Prizes, including laptops, electronic tablets and cash prizes were presented to the students.

while zonal preliminaries held in Urhobo College, Warri (Delta Central); Government College, Ughelli (Delta South); and French Language Centre, Asaba (Delta North), adding that 10 schools emerged from the preliminaries with four girls emerging as finalists.

In his remarks the Commissioner for Basic and Secondary Education, Mr. Chinedu Ebie, who was represented by Director SVT, Pastor Joy Biyidi, commended the organisers of the competition and the participants, saying, “our students have shown to us they are truly ready to take over from us, with the present generation by their display of intelligence in giving prompt and correct answers to questions asked during the competition without using the calculator, biro or paper.�

He applauded the organisers “for the great initiative of organising and engaging our children in this brain-

Ahmed to Revisit Kwara Poly Fees Hammed Shittu in Ilorin The Kwara State Governor, Abdulfatah Ahmed has restated his preparedness to revisit the school fees of the state Polytechnic (KwaraPoly), Ilorin.

The governor, who made this known in a statement signed by his Senior Special Assistant on Media and Com-

munication, Dr. Muyideen Akorede, said in line with his determination to resolve the school fees controversy, a committee comprising members of the House of Assembly and officials of relevant ministries has been set up to conduct a forensic investigation into the tuition fees and submit its report by January 5, 2018 in response to the assembly’s

earlier resolution on the fee issue. He expressed hope that the tuition fee will be reviewed in a manner that satisfies students, parents and guardians, as well as the institution’s capacity to run efficiently and in a sustainable manner.

The governor thanked the leadership and members of the House of Assembly for

their interest in resolving the issue of fees at the polytechnic in an amicable and mutually acceptable manner.

Ahmed also commended the house for its shared commitment to speedy passage of the 2018 budget to ensure a return to the January to December budgeting circle.

Unretractible DamagesYour Words Make Ă—Ă&#x;Ă— ĂĄĂ‹Ă? ĂŽĂ™ĂĄĂ˜Ă?Ă‹Ă?Ăž Ă‹Ă˜ĂŽ ĂĄĂ‹Ă? Ă?Ă™ Ă?Ă“Ă˜Ă?Ă? Ă?Ă’Ă? ĂœĂ?Ă‹ĂŽ ÞÒĂ? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËŞĂ? Ă?Ù××Ă?Ă˜Ăž Ă“Ă˜ ĂŽĂ‹Ă—ËŞĂ? ̙ÒĂ?Ăœ Ă?Ă™Ă˜ËŞĂ?Ěš Ę¨ĂœĂ?Ăž ĂžĂ?ĂœĂ— ĂœĂ?ĂšĂ™ĂœĂžË› ĂŽĂ‹Ă— ĂĄĂ‹Ă? Ă“Ă˜ ÞÒĂ? ʨʰÒ Ă?Ă™ĂœĂ— Ă‹Ă˜ĂŽ Ă“Ă˜ ĂŒĂ™Ă‹ĂœĂŽĂ“Ă˜Ă‘ Ă?Ă?ÒÙÙÖ ĂŒĂ&#x;Ăž Ă’Ă‹ĂŽ Ă˜Ă?Ă Ă?Ăœ ĂŒĂœĂ™Ă&#x;Ă‘Ă’Ăž ÒÙ×Ă? Ă‹ Ă?Ù××Ă?Ă˜Ăž Ă?Ă™ ĂžĂœĂ™Ă&#x;ĂŒĂ–Ă“Ă˜Ă‘Ë Ă’Ă? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËŞĂ? Ă?Ù××Ă?Ă˜Ăž Ă?Ó×ÚÖã ĂœĂ?Ă‹ĂŽËœ ËŤ ĂŽĂ‹Ă— Ă“Ă? ĂŽĂ“Ă?ĂœĂ&#x;ÚÞÓà Ă?˛ˏ Ăž ĂĄĂ‹Ă? Ă’ĂœĂ“Ă?Þ×ËĂ? ÒÙÖÓÎËãĂ? Ă‹Ă˜ĂŽ ÞÒĂ? Ă?Ă‹Ă—Ă“Ă–ĂŁ Ă™Ă? Ă?Ă™Ă&#x;Ăœ ĂĄĂ‹Ă? Ă‹ĂŒĂœĂ™Ă‹ĂŽ Ă?Ă™Ăœ ÞÒĂ? ÒÙÖÓÎËã˛ Ă&#x;Ă?Ă’ Ă‹Ă? Ă?Ă’Ă? ĂžĂœĂ“Ă?ĂŽ ÞÙ Ă?Ă?Ă? ÞÒĂ? ÑÙÙÎ Ă“Ă˜ Ă?Ă Ă?ĂœĂŁĂžĂ’Ă“Ă˜Ă‘ Ă’Ă?Ăœ Ă?Ă™Ă˜ ĂŽĂ“ĂŽ Ùà Ă?Ăœ Ă’ĂœĂ“Ă?Þ×ËĂ?Ëœ Ă?Ă’Ă? Ă?Ă™Ă&#x;Ă˜ĂŽ ÞÒËÞ Ă?Ă’Ă? ĂĄĂ‹Ă? Ă Ă?ĂœĂŁ Ă“ĂœĂœĂ“ĂžĂ‹ĂŒĂ–Ă?Ëœ Ă?ĂœĂ“ĂžĂ“Ă?Ă“Ă¤Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă˜Ă‹Ă‘Ă‘Ă“Ă˜Ă‘ Ă?Ă Ă?ĂœĂŁĂžĂ’Ă“Ă˜Ă‘ Ă’Ă? ĂŽĂ“ĂŽË› Ă˜Ă?Ă™ĂœĂžĂ&#x;Ă˜Ă‹ĂžĂ?Ă–ĂŁËœ ÞÒĂ? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËŞĂ? ĂĄĂ™ĂœĂŽĂ? Ă•Ă?ÚÞ ĂœĂ?Ă Ă?ĂœĂŒĂ?ĂœĂ‹ĂžĂ“Ă˜Ă‘ Ă“Ă˜ Ă’Ă?Ăœ Ă’Ă?Ă‹ĂŽ Ă‹Ă˜ĂŽ Ă?Ă’Ă? ĂĄĂ‹Ă? Ă?Ă?Ă?Ă“Ă˜Ă‘ Ă’Ă?Ăœ Ă?Ă™Ă˜ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ÓÞ˛ Ă’Ă?Ă“Ăœ ÒÙÖÓÎËã ĂĄĂ‹Ă? ĂœĂ&#x;Ă“Ă˜Ă?ĂŽË Ă&#x;Ă?Ă’ Ă“Ă? ÞÒĂ? ÚÙåĂ?Ăœ Ă™Ă? ĂĄĂ™ĂœĂŽĂ?Ě‹ ÞÒĂ? Ă™ĂœĂ&#x;ĂŒĂ‹Ă? Ă?Ă‹ĂŁ ĂžĂ’Ă‹ĂžËœ ËŤĂĄĂ™ĂœĂŽĂ? Ă‹ĂœĂ? Ă?Ă‘Ă‘Ă?Ëœ Ă™Ă˜Ă?Ă? ÞÒĂ?ĂŁ Ă?Ă‹Ă–Ă– ÞÙ ÞÒĂ? Ă‘ĂœĂ™Ă&#x;Ă˜ĂŽËœ ÞÒĂ?ĂŁ Ă?Ă‹Ă˜Ă˜Ă™Ăž ĂŒĂ? ĂœĂ?ĂžĂœĂ‹Ă?ĂžĂ?ĂŽË› ĂœË› Ă‹Ă–Ă‹ ĂĄĂ‹Ă? Ă’Ă‹Ă Ă“Ă˜Ă‘ Ă˜Ă™Ă˜Ă? Ă™Ă? Ă“Ăž ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă’Ă? ĂĄĂ‹Ă? ÚÙĂ?ÓÞÓà Ă? ÞÒËÞ Ă’Ă“Ă? Ă?Ă™Ă˜ËŞĂ? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ Ă?Ă™Ă&#x;Ă–ĂŽ Ă˜Ă?ÓÞÒĂ?Ăœ ĂŒĂ? ĂŽĂ“Ă?ĂœĂ&#x;ÚÞÓà Ă? Ă˜Ă™Ăœ Ă?Ă™Ă&#x;Ă–ĂŽ Ă“Ăž Ă’Ă‹Ă Ă? ĂŽĂ?Ă‘Ă?Ă˜Ă?ĂœĂ‹ĂžĂ?ĂŽ ÞÙ ĂŒĂ?Ă“Ă˜Ă‘ Ă?Ă&#x;Ă‘Ă‘Ă?Ă?ÞÓà Ă? Ă™Ă? Ă&#x;Ă˜ĂœĂ&#x;Ă–Ă“Ă˜Ă?Ă?Ă?Ëœ ËŠĂ?Ă‹Ă˜ĂžĂ‹Ă˜Ă•Ă?ĂœĂ™Ă&#x;Ă?Ă“ĂžĂŁËŞËœ ĂœĂ™ĂĄĂŽĂ“Ă˜Ă?Ă?Ă?Ëœ Ă&#x;Ă˜Ă—Ă‹Ă˜Ă‹Ă‘Ă?Ě‹ Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁËœ ĂšĂ?Ă?Ă Ă“Ă?Ă’Ă˜Ă?Ă?Ă?Ëœ Ă&#x;Ă˜Ă?Ă™Ă˜ĂžĂœĂ™Ă–Ă–Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁËœ ĂĄĂ“Ă–ĂŽĂ˜Ă?Ă?Ă? Ă‹Ă˜ĂŽ Ă“Ă˜ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă?Ë› Ă? Ă‹Ă?ÞÓà Ă?Ă–ĂŁ Ă‹ĘľĂ?Ă˜ĂŽĂ?ĂŽ ĂšĂ‹ĂœĂ?Ă˜ĂžĚ‹ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ?ËŞ Ă?Ă™Ă˜Ă?Ă?ĂœĂ?Ă˜Ă?Ă?Ă? Ă‹Ă˜ĂŽ Ă•Ă?ÚÞ Ă‹ Ă?Ă–Ă™Ă?Ă? ĂžĂ‹ĂŒ Ă™Ă˜ Ă’Ă“Ă? Ă?Ă’Ă“Ă–ĂŽËŞĂ? ĂšĂœĂ™Ă‘ĂœĂ?Ă?Ă? Ě‹ Ă˜Ă™ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă’Ă‹ĂŽ Ă?Ă Ă?Ăœ Ă?Ă˘ĂšĂœĂ?Ă?Ă?Ă?ĂŽ Ă?Ă&#x;Ă?Ă’ Ă?Ă™Ă˜Ă?Ă?ĂœĂ˜Ă?Ë ËŠ Ă’Ă‹Ăž ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž Ă•Ă˜Ă™ĂĄ Ă—ĂŁ Ă?Ă’Ă“Ă–ĂŽË ËŞ Ă’Ă? ĂœĂ‹Ă˜ĂžĂ?ĂŽËœ ËŠ Ă‹Ă— Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă‹ Ă?Ă™ĂœĂ—Ă‹Ă– Ă?Ă™Ă—ĂšĂ–Ă‹Ă“Ă˜Ăž Ă™Ă? ÞÒÓĂ? Ă‘ĂœĂ™Ă?Ă? ĂŽĂ?Ă?Ă?ĂœĂ“ĂšĂžĂ“Ă™Ă˜ Ă“Ă—ĂŒĂ&#x;Ă?ĂŽ Ă™Ă˜ Ă—ĂŁ Ă™ĂĄĂ˜ Ă?Ă™Ă˜Ë ĂŽĂ‹Ă— ĂœĂ?Ă—Ă‹Ă“Ă˜Ă?ĂŽ ĂŽĂ“Ă?ĂžĂœĂ‹Ă&#x;Ă‘Ă’Ăž ĂĄĂ’Ă“Ă–Ă? Ă’Ă“Ă? Ă—Ă&#x;Ă—ËŞĂ? Ă?Ă™ĂœĂœĂ™ĂĄ Ă‹Ă˜ĂŽ ĂŽĂ‹ĂŽËŞĂ? ĂœĂ‹Ă‘Ă? Ă‹Ăž ÞÒĂ? Ă?Ù××Ă?Ă˜Ăž Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă?ĂŽ Ă?Ă™Ăœ ÞÒĂ? Ă?Ă˜ĂžĂ“ĂœĂ? ĂŽĂ&#x;ĂœĂ‹ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒĂ?Ă“Ăœ Ă’Ă‹ĂœĂŽ Ă?Ă‹ĂœĂ˜Ă?ĂŽ ÒÙÖÓÎËã˛ Ă?Ă“Ă—Ă“Ă–Ă‹Ăœ Ă™ĂŒĂ?Ă?ĂœĂ Ă‹ĂžĂ“Ă™Ă˜Ëœ ÞÒÓĂ? ÞÓ×Ă? ÚÙĂ?ÓÞÓà Ă?Ă–ĂŁ Ă?ÞËÞĂ?ĂŽËœ ĂĄĂ‹Ă? Ă?Ă˜ĂžĂ?ĂœĂ?ĂŽ Ă™Ă˜ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ ĂœĂ?ĂšĂ™ĂœĂž Ă?Ă–Ă?Ă?ĂĄĂ’Ă?ĂœĂ?Ë› Ă’Ă“Ă? ĂĄĂ‹Ă? Ă™Ă˜ Ă‘Ă™ äĂ?ËŞĂ? ĂœĂ?ĂšĂ™ĂœĂž Ă“Ă˜ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ Ă?Ă?Ă’Ă™Ă™Ă–Ëœ Ă“Ă˜ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ Ă?ÞËÞĂ?Ëœ ĂŒĂŁ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœË› Ă“Ă•Ă? ĂŽĂ‹Ă—Ëœ Ă‘Ă™ ĂĄĂ‹Ă? Ă‹Ă–Ă?Ă™ Ă‹ Ă?Ă?Ă˜Ă“Ă™Ăœ Ă?Ă?Ă?Ă™Ă˜ĂŽĂ‹ĂœĂŁ Ă?Ă?ÒÙÙÖ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžËœ Ă™Ă&#x;ĂžĚ‹Ă‘Ă™Ă“Ă˜Ă‘Ëœ Ă?Ă?Ă–Ă?Ě‹Ă?Ă™Ă˜Ę¨ĂŽĂ?Ă˜ĂžËœ Ă?Ă?Ă–Ă?Ě‹Ă‹Ă?Ă?Ă&#x;ĂœĂ?ĂŽ Ă‹Ă˜ĂŽ Ă“Ă˜ĂžĂ?ĂœĂ?Ă?ĂžĂ“Ă˜Ă‘Ë› Ă“Ă? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËŞĂ? Ă?Ù××Ă?Ă˜Ăž ĂœĂ?Ă‹ĂŽËœ ËŤ Ă‘Ă™ Ă“Ă? Ă“Ă—ĂšĂœĂ™Ă Ă“Ă˜Ă‘ Ă’Ă“Ă? Ă?Ă•Ă“Ă–Ă–Ă? Ă‹Ăž Ă‹ĘľĂ?Ă˜ĂŽĂ“Ă˜Ă‘Ëœ Ă?Ă™Ă?Ă&#x;Ă?Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ ĂšĂ‹ĂœĂžĂ“Ă?Ă“ĂšĂ‹ĂžĂ“Ă˜Ă‘ Ă‹Ăž Ă‹Ă–Ă– Ă?Ă?ÒÙÙÖ Ă?Ă Ă?Ă˜ĂžĂ?˛ˏ Ă“Ă? ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? ĂĄĂ?ĂœĂ? Ă?Ă–Ă‹ĂžĂ?ĂŽ Ă‹Ăž Ă’Ă“Ă? ĂšĂœĂ™Ă‘ĂœĂ?Ă?Ă?Ëœ Ă‘Ă™ Ă’Ă“Ă—Ă?Ă?Ă–Ă? Ă?Ă?Ă–Ăž Ă—Ă™ĂœĂ? Ă?Ă?Ă–Ă?Ě‹Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă?ĂŽ ÞÙ ĂœĂ“Ă‘Ă’Ăž Ă‹Ă–Ă– Ă?Ă™Ă˜Ă?Ă?ĂœĂ˜Ă? Ă‹ĂŒĂ™Ă&#x;Ăž Ă’Ă“Ă—Ă?Ă?Ă–Ă?Ë› ÑÙ˪Ă? ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă’Ă‹Ă? Ă?Ă–Ă?Ă‹ĂœĂ–ĂŁ ÞËÕĂ?Ă˜ ÞÒĂ? ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă“ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ Ă?Ă™Ă˜ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ? ÞÙ Ă?Ă’Ă‹ĂœĂšĂ?Ă˜Ă“Ă˜Ă‘ Ă’Ă“Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™ĂœË› Ă™Ă&#x;ËŞĂŽ Ă‹Ă‘ĂœĂ?Ă? ÞÒËÞ ÞÒĂ?ĂœĂ?ËŞĂ? Ă‹ Ă’Ă&#x;Ă‘Ă? ĂŽĂ“ĘĽĂ?ĂœĂ?Ă˜Ă?Ă? ĂŒĂ?ÞåĂ?Ă?Ă˜ ĂŒĂ™ĂžĂ’ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ?ËŞ Ă?Ù××Ă?Ă˜ĂžĂ? Ă?Ă Ă?Ă˜ ÞÒÙĂ&#x;Ă‘Ă’ ÞÒĂ?ĂŁËŞĂœĂ? Ă?ĂžĂ‹ĂžĂ“Ă˜Ă‘ Ă‹ Ă?Ă“Ă—Ă“Ă–Ă‹Ăœ Ă™ĂŒĂ?Ă?ĂœĂ Ă‹ĂžĂ“Ă™Ă˜Ë›

Ă? ĂŁĂ™Ă&#x; Ă?Ă?Ă?Ă– ĂšĂ?Ă˜Ă?Ă“Ă Ă? Ă‹ĂŒĂ™Ă&#x;Ăž ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ ĂœĂ?ĂšĂ™ĂœĂžĂ?Ëœ ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă˜Ă™Ăž Ă‹Ă–Ă™Ă˜Ă?Ë› Ăž Ă“Ă? Ă‹ ÞÓ×Ă? Ă?Ă™Ă˜Ă?Ă&#x;Ă—Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?ĂžĂœĂ?Ă?Ă?Ă?Ă&#x;Ă– ÞËĂ?Ă• Ă?Ă™Ăœ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă‹Ă˜ĂŽ ĂŽĂ?ĂšĂ‹ĂœĂžĂ—Ă?Ă˜ĂžĂ‹Ă– Ă–Ă?Ă‹ĂŽĂ?Ë› Ă’Ă?ĂœĂ? Ă“Ă? Ă˜Ă™ ĂŽĂ™Ă&#x;ĂŒĂž ÞÒËÞ Ă“Ăž Ă“Ă? Ă‹Ă˜ Ă?Ă—Ă™ĂžĂ“Ă™Ă˜Ă‹Ă–Ă–ĂŁ Ă“Ă˜ĂžĂ?Ă˜Ă?Ă? Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? ÞÒËÞ Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? ĂŽĂ™Ă˜Ă? Ă?Ă?Ă˜Ă?ÓÞÓà Ă?Ă–ĂŁ Ă‹Ă˜ĂŽ ÚÙĂ?ÓÞÓà Ă?Öã˛˛

Ě‹ Omoru writes from the UK

EIN Supports Differently Abled Children in Lagos In line with its corporate social responsibility initiative, Event Industry Nigeria (EIN), in collaboration with Event Market Nigeria (EMN) recently supported the differently abled persons in the society by organising a charity event tagged ‘Differently Abled Meet and Greet’ for Pacelli School for the Blind and Partially Sighted Children, Surulere, Lagos.

The event was a platform to encourage and support the blind children and inspire them to greatness to be self-actualised citizens in the society. It was also to make them realise that people do care about them to inspire them to the fulfillment of their dreams.

The Event Convener of Event Market Nigeria, Temmie Amodu said the visit to Pacelli School was to alleviate the plight of the differently abled and create a platform of expression and self-actualisation for them. “The EMN Differently Abled Meet and Greet is to uplift the plight of the differently abled to live to their full potential because we do care for them.

They are abled members of the society and should be

encouraged.�

He advised the students to keep their dreams alive and cling to their passion in order to live fulfilled lives.

It was an atmosphere of fun as differently abled talents seized the occasion to entertain themselves and the crowd.

Among them were Abednego Norris, the first blind African rapper and multitalented artist who anchored the event and proved that sight impediment does not deter one from showcasing humor and wits.

Kelly Blind of Wazobia FM was full of nuggets and jokes to inspire the children to greatness while sharing his life experiences.

Miss Ejiro Sharon, an ExPacellian also explained how she chases her dreams and explained how she strives to achieve all her goals. “Being differently abled cannot deter me from chasing my dreams as I believe we all have different goals to achieve, whether being physically challenged or not. So I will chase my dreams with all I have got. I am looking forward to becoming the first blind ambassador to the United Nations.�

35

T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś

Cowbellpedia: Catching them Young for Mathematics Based on the realisation that building capacity in Mathematics represents a concrete pillar for development, Promasidor Nigeria Limited has for about 20 years taken up the challenge of stimulating students’ interest in the subject through its mathematics competition for secondary schools. Uchechukwu Nnaike highlights the impact of the intervention so far A story was once told of a certain prominent Lagos editor who elected to study Mass Communication because the course did not require a credit pass in Mathematics. After he secured his dream admission and resumed at the University of Lagos, ‘trouble started.’ To his shock, the Mathematics he thought he had escaped reared its head as the school made it mandatory for all Mass Communication students to pass a six-unit, two-semester science course in order to graduate.

It took “special divine intervention� for the editor to pass the ‘Mathematics-laced’ course.

Based on this experience, he has become the Mathematics ambassador in his house, encouraging his children to take the subject seriously in their early years.

Regarded as the foundation of science, Mathematics involves the study of measurement, properties and relationships of quantities, using numbers and symbols. Experts also maintain that Mathematics provides deep reasoning that is unique to human beings. More importantly, they note that solving mathematical problems helps the mind to reason and organise complicated situations into clear, simple and logical steps.

As much it is seen as the soul of science, Mathematics is however dreaded by most students, resulting in an unimpressive performance in the subject at external examinations conducted by the major examining bodies such as the West African Examinations Council (WAEC) and National Examinations Council (NECO).

In the 2011 WAEC May/June Senior School Certificate Examination (SSCE), only 41.50 per cent of the candidates obtained credit in Mathematics, while only 24.72 per cent passed the subject in the 2010 NECO May/June SSCE. In 2017, only 52 per cent had credit pass in Mathematics and English Language in the WASSCE. In his paper, ‘Trends in Students’ Performance in Mathematics’, Udonsa Effiok, a Mathematics lecturer at the Federal College of Education, Yola, Adamawa State, identified a number of factors that impeded students’ achievement in the subject in senior secondary school examinations.

These he said include: shortage of qualified Mathematics teachers, poor facilities, inadequate equipment and instructional materials.

Others are method of teaching, large class size, Mathematics phobia/fright, low interest by students, parental influence and undue distraction from unproductive use of social media networks.

Similarly, the Chief Executive Officer of the National Mathematical Centre (NMC), Professor Stephen Onah blamed the serial poor performance in Mathematics on unqualified teachers, as well as the international standards maintained by the examination bodies.

Onah said with the low teacher-student ratio, effective teaching becomes a problem.

He therefore called for incentives for teachers to boost their interest in critical subjects.

On its part, the Mathematical Association of Nigeria said the poor performance is studentrelated, teacher-related and government-related.

From Left:The senior category winner, Master Munachi Ernest-Eze of Loyola Jesuit College, Abuja; Managing Director, Promasidor Nigeria Limited, Mr. Anders Einarsson; and junior category winner, Master Jesse Uche-Nwichi of Graceland International School, Rivers State, at the finals of 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz Show in Lagos‌ recently The association’s President, Professor Che Agwagah observed that a number of Mathematics teachers, especially at the secondary school level are weak in knowledge, content and pedagogy.

To tackle the challenge, investment in education across the world has assumed an entirely new frontier and approach such that governments and corporate organisations have come to realise that building capacity in Mathematics represents a concrete pillar for development.

One of the corporate organisations on this path of building human capacity is Promasidor Nigeria Limited. Through its Cowbellpedia initiative, the company has provided a platform to stimulate interest and reward excellence in Mathematics among students in Nigeria’s secondary school in nearly 20 years. The interventions include Cowbellpedia Secondary Schools Mathematics TV Quiz Show, Cowbellpedia Radio (a Mathematics class on radio) and Cowbellpedia Mobile App (Mathematics Q&A mobile application).

Through these platforms, the company has been able to arouse and re-awaken the interest of students in Mathematics at the secondary school level and further reinforced the importance of the subject NECO has also recognised and commended Promasidor for stimulating the interest of Nigerian students in Mathematics through the TV quiz show, sponsored by Cowbell, the company’s flagship brand. In a chat with journalists at the finals of the 2017 Cowbellpedia Secondary Schools Mathematics Television Quiz Show in Lagos recently, the NECO Registrar, Professor Charles Uwakwe said the competition has considerably reduced the phobia for Mathematics among students across the country.

Uwakwe maintained that the Cowbellpedia initiative has demystified the terror of Mathematics

that has been killing the dreams of many students.

He cited the figure for last year’s qualifying examinations as proof of the renewed interest of more students in the subject.

Compared to the enrolment figures of 27,000 participants in 2015 and 46,000 in 2016, 52,000 students participated in the 2017 nationwide examinations of the competition, out of which 108 moved to the second stage, which is the television quiz show with five of the students having a perfect score of 100 percent in the qualifying examinations.

The NECO registrar commended Promasidor for the Cowbellpedia initiative and expressed the council’s continued technical support for the project in appreciation of what he described as “Promasidor’s great corporate social responsibility to the Nigerian society.�

In the last two decades, the mathematics initiative has produced champions and heroes. Last year, Munachi Ernest-Eze, a student of Loyola Jesuit College, set a new record by winning in the junior and senior categories of the Cowbellpedia Secondary School Mathematics Television Quiz Show within a period of two years.

Emmanuel Mebude, a student of Ogunlade Memorial Secondary School, Surulere, Lagos also set a new competition record in speed and accuracy. He answered 17 questions in the ‘60 Seconds of Fame’ segment in the preliminary rounds of the senior category.

Greater Tomorrow International College, Arigidi-Akoko, Ondo State also got an award for producing finalists back-to-back in the last three years. These are: Evans Owamoyo in 2015 (junior category) and 2017 (senior category), and Dennis Balogun in 2016.

The Ambassadors College, Ota, Ogun State received an award for its contribution to Math-

ematics education. The school, which boasts of 17 Mathematics teachers, produced eight out of the 12 finalists in 2016, and won the two categories that year, as well as the teachers’ edition. Oluwanifise Onafowokan, last year’s first runner-up in the senior category is also a product of the school.

Meanwhile, in the 2017 finals, Jesse UcheNwichi of Graceland International School, Rivers State and Ernest-Eze emerged champions in the junior and senior categories respectively. For their feat, they were rewarded with N1 million each and an all-expense paid education excursion abroad. Onafowokan and Owamoyo were the first and second runners-up respectively in the senior category, while Oluwafemi Adeyanju of Jesuit Memorial College, Port Harcourt, Rivers State and Ezekiel Ekanem of Advanced Breed Group of Schools, Sagamu, Ogun State finished first and second runners-up in the junior category.

The first and second runners-up for each category won N750,000 and N500,000 respectively.

Each teacher of the 2017 champions received a cash prize of N400,000, while those of the first and second runners-up got N300,000 and N200,000 respectively. Also, the winning schools won Mathematics textbooks, desktop computers and printers Reassuringly, the Managing Director of Promasidor Nigeria Limited, Anders Einarsson not only reiterated the commitment of the company towards education, but also promised that the company would continue to support the academic development of Nigerian children.

That affirmation is the tonic students, teachers, schools, parents and other stakeholders in the education sector require to boost a Promasidorinspired revolution in Mathematics education in Nigeria.

Outgoing Rector Calls for Restructuring of Poly Sector Segun Awofadeji in Bauchi The outgoing Rector of the Federal Polytechnic, Bauchi, Shuaibu Musa, has tasked the federal government on the need to restructure the polytechnic sector to make it more qualitative and efficient in the discharge of its mandate.

Musa, who spoke during the hand-over ceremony held

at the council chamber of the institution, said “despite the fact that polytechnic education has been recognised as the producer of the required technical manpower that drives the competency-based economic activities of the nation, it has not enjoyed the commensurate support it deserves. “The National Board for Technical Education (NBTE),

the body charged with the responsibility of regulating the sector is overburdened, given that it has to superintend over 600 institutions across the country. The time has come for the institutional arrangement to be reviewed.�

Musa also called for massive funding for the provision of heavy equipment and tools needed for hands-on training in polytechnics. “An

earlier needs assessment conducted in the sector needs to be urgently revisited and implemented to rescue the polytechnics. A coordinated resuscitation of the manufacturing industries would bring back the glory to technical manpower, and may reduce or even eliminate the effect of the current dichotomy the polytechnic graduates are facing and further improve

their societal image, which is currently low. “Given that world economies are increasingly becoming more knowledge based, it will be worthwhile for the Nigerian polytechnic sector to be liberalised and be given room to award degrees and higher qualifications so as to accelerate the attainment of the goals and objectives of the National Economic

Recovery and Growth Plan of the current administration.�

On the challenges facing the polytechnic, Musa said: “One can easily identify the inadequacy of funds as a notable challenge. The low internal revenue generation capacity of the institutions and the federal government’s meagre allocation of recurrent costs have dampened the rate of growth in the polytechnic.

T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś

36

CITYSTRINGS

Ă?ĂžĂ“Ă˜Ă‘ Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă‹ĂœĂ–Ă?Ă? Ă”Ă&#x;Ă˜ĂĄĂ‹ Ă—Ă‹Ă“Ă– Ă?Ă’Ă‹ĂœĂ–Ă?Ă?˛ËÔĂ&#x;Ă˜ĂĄĂ‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

Empowering Delta Youths Omon-Julius Onabu takes a look at the maiden products exhibition and business fair held recently in Asaba under the auspices of the Delta State Job Creation Office

Entrepreneurs displaying their products at the maiden exhibition and business fair held in Asaba, Delta State‌recently

Y

ou know a ripe corn by its looks.

This is an African adage which illustrates the evident features of maturity with the symbolism of a common agricultural product. Perhaps, this idiomatic expression aptly captures the mood at the maiden Products Exhibition and Business Fair held last December in Asaba, the Delta State capital at the instance of the Job Creation Scheme of the Dr. Ifeanyi Okowa’s administration. At least 400 beneficiaries of the state government's employment and job creation programme, particularly the Skills Training and Entrepreneurship Programme (STEP) and the Youth Agricultural Entrepreneurs Programme (YAGEP), were on ground to showcase to the world their various products and services.

The beneficiaries were trained and established in various enterprises including information communication technology (ICT), hair dressing and makeover, catering and confectionary, cosmetology, craft/homecare products, interior dĂŠcor decoration and event management, electrical installation and repairs, fashion design and tailoring, shoe making, upholstery, welding and fabrication and automechanic; and, the agricultural enterprises covered aquaculture, poultry, crop production, agro-processing and piggery." Their diverse training and enterprises dictated the products and services exhibited by the generally young but enthusiastic entrepreneurs.

It was palpable excitement from several of the exhibitors who spoke with THISDAY during the two-day event, including partners in various cluster enterprises especially in the area of fish and crop production. For PPSP Cluster members, Hilary Ogboi, Mercy Owohm Okpugha Thank-God and Emmanuela Clinton, business has been both challenging and encouraging; but noted that it certainly has been an exciting experience being a young graduate farmer.

Among those who commended the scheme were Jane Nwabuwane and Arubayi Claren of the 2016 STEP ‘Batch A’, Ifeyota Edafe, Kemi’s Beauty Trends as well as Favour Farms (Fish Farm Cluster in Ugborodo-Okpe) members, including Morrison Idoro and cluster groups in Aniocha North and Patani. Interestingly, Dafe, who is a 2014 graduate of the state’s skills acquisition scheme and co-opted in STEP platform, today has 30 trainees in her business outfit at Okpanam, Oshimili North Local Government Area.

Peace Umukoro, a 2016 ‘Batch B’ STEPneur, has good news and only one advice for the unemployed young graduate out there still

Delta State is the only state that has demonstrated its commitment to skills development in practical terms. The World Bank will continue to support the Delta State Government in the areas of skills and technical development and will work with the Job Creation OfďŹ ce of the state government to strengthen the labour market observatory system in order to make Governor Okowa’s dream of recreating the middle class a reality

playing the doubting Thomas: “Just go and get yours whenever the application forms for the next batch are out. Your life won’t be the same again. I was a jobless graduate for five years as a married woman. That is better imagined! I was very reluctant, very pessimistic initially, but thank God I eventually made up my mind to collect the entry forms.

Today, I can boldly say I’m in business and doing well with my ‘Emy’s Catering’ here in Asaba.�

However, some of the fish farmers complained about the high cost of purchasing feeds for the fish, which they stressed made nonsense of their sales as the price of the fish was not commensurate with the cost of production. They therefore appealed to the governor to intervene on their behalf towards getting the state micro and small scale credit agency to assist them to obtain necessary loan facilities for the business. Similarly, Ethor Odomero whose operations are in Oleh in Isoko South Local Government Area and some YAGEG beneficiaries complained about lack of equipment particularly for cassava processing.

From the foregoing, it is clear that the event is being seen by many observers as a true exhibition of the fruits of Governor Okowa’s youth empowerment in Delta State. Government activities and performance cannot be measured with the barometer of sentiments; any objective assessment must be based on holistic appreciation and analysis of relevant parameters such as government policies, budgets, pronouncements and tangible or even intangible projects and programmes.

If the quality and transparency of the commercial showcasing of the ‘STEPneurs’ and ‘YAGEPneurs’ are anything to go by, then the vision of the Okowa’s Job Creation Scheme is a dream come true. It was hardly surprising that the World Bank through its representative, Dr. Tunde Adekola, a Senior Education Specialist in the bank, has endorsed it for partnership and funding support. In his words, “Delta

State is the only state that has demonstrated its commitment to skills development in practical terms. The World Bank will continue to support the Delta State Government in the areas of skills and technical development and will work with the Job Creation Office of the state government to strengthen the labour market observatory system in order to make Governor Okowa’s dream of re-creating the middle class a reality.�

Declaring the exhibition and business fair open, Governor Okowa noted that a number of the young entrepreneurs “began their journey less than 15 months ago when they completed their training programmes and were handed their starter-packs. Some of them commenced their businesses for as short as six or nine months ago. Indeed, theirs is a remarkable story of industry, diligence and determination to succeed.� He expressed optimism that the job creation programmes of his administration will ensure diversification of the economy, and attributed the success of the entrepreneurial scheme to “rigorous planning, discipline, focus, painstaking selection process, stringent guidelines, prudent management and commitment to set goals.�

While expressing delight at the encouraging prospects of achieving the ultimate goal of the schemes, Okowa admitted that the journey had been smooth-sailing all the way. “We had to brave the odds and refused to accept the notion that the average youth in Delta State was not ready to jettison the rent-seeking mentality and the prevalent culture of entitlement. However, I am happy to say we are inching closer towards our goal of economic diversification through our STEP and YAGEP, as the beneficiaries of these programmes have the capacity to enhance the business competitiveness of the state economy thereby enabling it to withstand external shocks that may arise from vicissitudes in the oil market.�

According to the governor, moving forward especially in the light of the orchestrated gloomy

T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś

37

CITYSTRINGS

future of oil and gas industry, the need to explore several potent job creation options has become imperative. “Globally, it has been established that certain economic sectors and activities hold the highest potential for job and wealth creation for the economy; these are agriculture, agribusiness, agro-based industries, vocational skills-based micro enterprises, cottage enterprises, small and medium scale enterprises as well as public works such as environmental sanitation, housing and road construction,�

Okowa noted. “In fact, interventions in these sectors are generally cost-effective and go a long way to reduce youth unemployment and poverty while ensuring social inclusion, positive economic growth and sustainable development as has been observed in many countries in South Asia, South East Asia and Latin America.�

State Commissioner for Economic Planning who is the Chairman, Steering Committee on Job Creation, Dr Kingsley Emu and the Chief Job Creation Officer, Prof. Eric Eboh, said that the exhibition would provide the beneficiaries of the skills acquisition programmes the opportunity to make vital business contacts, create business relationship with investors and communicate their business vision to financial institutions. An intensive monitoring and mentoring system has been put in place in that direction, Eboh pointed out.

Erstwhile governor of Delta State and a special guest at the event, Chief James Ibori, was apparently overwhelmed at the magnificent array of boisterous young entrepreneurs as he mounted the podium amidst a thunderous applause. He could not hide his feelings.

"I will continue to pray for you and your administration because of your tremendous achievements so far," Ibori declared. "I am particularly happy that you focused on providing jobs for our youths. When you and I must have gone, they are the ones that will be here to take over from us. They are certainly the leaders of tomorrow!

"I deeply appreciate your administration's huge investments in our youths, which is why I am here today to give you my support and to say that you have truly done well.

Deltans did not make any mistake in voting you as their governor. You have lived up to expectations and you deserve my support and sincere commendation."

Another dignitary, Governor Aminu Tambuwal of Sokoto State, was similarly full of commendation for Okowa's youth empowerment and wealth creation schemes.

Speaking with newsmen at the Cenotaph, the governor admitted that his state had a lot to learn from the successful initiative of the Okowa administration especially regarding the youth entrepreneurial and agricultural empowerment programme of the Okowa administration.

Against this background, Okowa during a media parley on Monday, December 18, 2017 disclosed that at least 500 potential entrepreneurs were in the wings preparatory to stepping on the stage as the next batch of STEP and YAGEP beneficiaries. A move that

Through our agship Skill Training and Entrepreneurship Programme (STEP) and Youth Agricultural Entrepreneurs Programme (YAGEP), we have achieved what many thought was unthinkable; after two programme cycles, 2,324 previously unemployed youths are now small business owners and employers of labour

L-R: Governor Aminu Tambuwal of Sokoto State, Governor Ifeanyi Okowa, Delta State Chief Job Creation OďŹƒcer, Prof. Eric Eboh and other dignitaries, during the opening of the Products Exhibition and Business Fair at the Cenotaph, Asaba

Visitors at some of the stands during the exhibition and business fair held in Asaba, Delta State‌recently

further assured the people that the economic diversification policies of the state government through the instrumentality of its job and wealth creation programmes are obviously not a mere flash in the pan.

In the words of Okowa, “Through our flagship Skill Training and Entrepreneurship Programme (STEP) and Youth Agricultural Entrepreneurs Programme (YAGEP), we have

achieved what many thought was unthinkable; after two programme cycles, 2,324 previously unemployed youths are now small business owners and employers of labour." He stressed that the tempo of progress would be sustained.

T H I S D AY Ëž , DECEMBER 3, 2018

38

BUSINESS/MONEYGUIDE

Infracredit Issues Maiden $10bn Bond Obinna Chima InfraCredit has announced that it successfully accessed the debt capital markets for the first time by issuing a N10 billion 16 per cent Series 1 Senior Guaranteed Fixed Rate Bond Due 2027.

A statement yesterday explained that via InfraCredit’s guarantee, Viathan Group through Viathan Funding Plc, established a special purpose vehicle to raise the debt capital.

The debt instrument is backed by the irrevocable and unconditional guarantee of InfraCredit and accorded ‘AAA’ long term national scale rating by GCR and Agusto & Co. According to the statement, the Viathan bonds would be the first corporate infrastructure bonds issued in the Nigerian debt capital markets with a tenor of 10 years, extending the yield curve for corporate debt issuances. “By leveraging on InfraCredit’s financial strength and high credit ratings, the Viathan Bonds was subscribed by 16 institutional investors comprising at least 12 pension funds and two insurance companies,

committing a total of N10.5 billion out of the total issue size of N10 billion, translating to a 105 per cent subscription.

The Viathan Bonds priced at an 82 basis points premium to the 10-year sovereign benchmark bond using the 60-day yield average adapted for the book-build exercise,� it added.

Furthermore, it revealed that the ‘AAA’ rated bonds would be listed on FMDQ OTC Securities Exchange.

Viathan Group develops and operates captive and embedded (off-grid) power solutions for governmental, commercial and residential off-takers across Nigeria, using natural gas as fuel with a combined generation capacity of 50MW. The net proceeds of the bonds would be utilised by the Viathan Group to expand its generation capacity by 7.5MW, construct a 104,800 scm/day Compressed Natural Gas (CNG) Plant and refinance short term bank debts.

Commenting on the development, the Chief Executive Officer of Viathan Engineering Limited, Mr. Ladi Sanni said: “The success of the bond issuance has significant implication for Viathan’s capacity expansion

strategy. With 10-year funding at relatively lower borrowing cost, Viathan Group is better positioned to efficiently execute its capacity expansion plan in captive power generation and increase its diversification into gas processing.�

Also speaking, the CEO of InfraCredit, Chinua Azubike said: “We are pleased to support Viathan Group’s business expansion programme in the captive power market, by enabling them to raise long term local currency funding with favorable terms.

This transaction will create a new investable asset class to match the long-term maturity structure of pension fund and insurance companies’ assets�.

Speaking on the success of the transaction, the Chairman, InfraCredit, Uche Orji said: “The success of this transaction aligns with the overall objective of InfraCredit’s sponsors, the Nigeria Sovereign Investment Authority and GuarantCo, in establishing InfraCredit to serve as a catalyst for facilitating private investment into infrastructure from pension funds and other long-term private institutional investors in order to support sustained economic growth in Nigeria.�

Agusto Upgrades FCAM’s Fund Rating to ‘A(f)’ The Legacy Short Maturity Fund, a mutual fund managed

by First City Asset Management Limited (FCAM), has received a risk rating upgrade.

The fund’s rating has been upgraded by two notches, from BBB+(f) to A(f), by Agusto & Co.vFCAM is the wealth and investment management arm of FCMB Group Plc. The firm explained in a statement that the higher rating of A(f) indicated that Legacy Short Maturity (NGN) Fund has a low to moderate exposure to downside risk (impairment to the net asset value) in the medium term.

According to Agusto & Co, the new rating of Legacy Short Maturity Fund was on account of the fund’s good quality assets, adequate liquidity management strategies, conservative approach to credit risk, enhanced risk management and zero currency risk exposure.

In addition, the rating agency stated that interest rate risk in

the fund was moderate in the short term, and that the Fund has a high quality portfolio management team with over 18 years’ experience across various financial fields.

Legacy Short Maturity Fund seeks to preserve capital and generate consistent income for unit holders. The Fund pursues its investment objectives by investing in high quality, nairadenominated money market instruments and short maturity bonds rated by a Securities & Exchange Commission (SEC) registered credit rating agency.

Speaking on the upgrade

by Agusto & Co, the Chief Executive Officer of FCAM, Mr. James Ilori said: “We are delighted that our focus on consistently creating value for unit holders in line with the investment objectives of Legacy Short Maturity (NGN) Fund, has once again been recognised by Agusto & Co, via a double risk-rating upgrade for the Fund. We will continue

to manage the Fund in the most professional manner, in line with international best practices.’’ FCAM, as a portfolio management company, also manages Legacy Equity Fund, which has become the toast of investors in the equity-based mutual funds segment in Nigeria.

The company provides services that cut-across collective investment schemes such as mutual funds, which are predominantly for retail investors, as well as specialised discretionary portfolio management, for ultra-high and high networth individuals and institutional investors.

FCAM has consistently focused on delivering superior wealth and investment management services, aimed at meeting investors’ desire for safety of investments and good return.

FCAM’s market counterparties include CSL Stockbrokers Limited and First City Monument Bank Limited.

Fed Rate Hikes Expected to Hurt Car Sales in 2018 As automakers seal their first annual United States sales decline since 2009, expectations for more interest-rate hikes are contributing to the nearly unanimous view that car demand will drop again in 2018.

Few analysts anticipate sales this year will reach 17 million vehicles, which was just achieved for a third-straight year and only the fifth time in history. The Federal Reserve forecasts three rate hikes in 2018, crimping the free-flowing credit that helped fuel a record streak of demand growth now coming to an end. “Consumers could face slightly higher costs for all their bor-

rowing: credit-card balances, student loans, financing a house or a car,� said Charlie Chesbrough, senior economist at Cox Automotive, which owns websites including Kelley Blue Book and Autotrader.

Bloomberg quoted him to have added: “At the same time, higher rates drive up the cost to provide low-rate financing, which eats into profit margins and hurts the carmakers as well.�

The central bank, which hiked rates three times in 2017, raises interest rates to keep the economy from overheating and leading to high inflation.

For consumers, those protective measures make it more

expensive to take on new car loans or leases. “The monthly payment matters,� said Jonathan Smoke, Cox’s chief economist. “When rates rise, many consumers do not have an option to pay more.

We believe higher rates have already led the automotive market to see some shift� toward used-vehicle purchases instead of new ones.

The final tally for 2017 industry deliveries will be reported Wednesday when automakers announce December results.

Analysts project that all major carmakers will report declines compared with the blowout final month of 2016, which benefited from an extra selling day.

Broad street

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2017 Broad Money (M2)

21,851,454.31

-- Narrow Money (M1)

9,890,813.10

---- Currency Outside Banks

1,523,239.91

---- Demand Deposits

8,367,573.19

-- Quasi Money

11,960,641.22

Net Foreign Assets (NFA)

9,732,990.89

Net Domestic Assets(NDA)

12,118,463.42

-- Net Domestic Credit (NDC)

26,821,446.81

---- Credit to Government (Net)

4,824,226.22

---- Memo: Credit to Govt. (Net) less FMA

7,834,536.74

---- Memo: Fed. and Mirror Accounts (FMA)

-3,010,310.52

---- Credit to Private Sector (CPS)

21,997,220.59

--Other Assets Net

-14,702,983.39

Reserve Money (Base Money)

5,486,804.65

--Currency in Circulation

1,868,735.07

--Banks Reserves

3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

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, FRI, DEC 29,2017 The price of OPEC basket of fourteen crudes stood at $64.47 a barrel on Friday, compared with $64.17 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž , DECEMBER 3, 2018

39

MARKET NEWS

SEC: Electronic-Dividend Registration to Continue Goddy Egene and Nosa Alekhuogie

December 31, a 2017 as deadline for the free registration.

Speaking in Abuja yesterday, Acting Director General of SEC, Dr. Abdul Zubair, said that all investors that are yet to enroll, are enjoined to continue with the registration exercise at a marginal cost of N150 only. He said: “Such investors should continue to approach their banks or registrars, as usual, to seamlessly mandate their bank

The Securities and Exchange Commission (SEC) yesterday said the electronic-dividend registration exercise would continue seamlessly in spite of the expiration of the December 31, 2017 free registration deadline.

SEC had undertaken to pay the cost of the enrolment for e-dividend since 2016 and gave

accounts for the collection of their dividends electronically, including unclaimed dividends, not exceeding 12 years of issue as the N150 would not be demanded from them at the point of registration. “For the avoidance of doubt, the N150 fee would not be demanded from the investors at the point of registration and/ or submission of completed e-dividend mandate forms.

In his comments, Director External Relations of the SEC, Mr. Henry Rowlands disclosed that the SEC has consulted with other stakeholders to ensure that the process is seamless, adding that investors should entertain no fear of being charged until their registration is approved. “Where the investor’s account is not funded, the parties have agreed that such an enrolment request will be disapproved

because the account is not funded and the investor will be alerted accordingly,� he said.

Meanwhile, Zubair also announced an extension of the forbearance window for Multiple Accounts consolidation to March 31, 2018.

The SEC boss said: “With a view to encouraging many more investors to consolidate their multiple subscriptions into one account, the SEC wishes

PRICES FOR SECURITIES TRADED AS OF

to announce an extension of the forbearance for Multiple Accounts till March 31, 2018.

Accordingly, investors that bought shares of the same company during public offers, using different names, are allowed till 31st of March, 2018 to continue to approach their stockbrokers or registrars, to regularize their shareholdings in line with SEC Rules on customer identification.

A S AT 2 / 0 1 / 2 0 1 8

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N 1

28 29 BANKING ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm)

PRICE

814,111.08

25.93

%CHANGE 1.13

BANKING S/N 2 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N 3 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

OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

BUILDING MATERIALS DANGOTE CEMENT PLC

CROP PRODUCTION FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC FISHING/HUNTING/TRAPPING ELLAH LAKES PLC. LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

S/N

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.

12

S/N 14 BUILDING CONSTRUCTION S/N 15 16 INFRASTRUCTURE/ HEAVY CONSTRUCTION S/N 17 REAL ESTATE DEVELOPMENT S/N 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 27 BEVERAGES--NONALCOHOLIC S/N

MARKET CAP(Nm) 3,919,316.70

VOLUME

30 31

224

24,777,162

224

24,777,162

32 33

PRICE

%CHANGE

TRADES

VOLUME

8.79

-0.11

229

4,266,914

34

229

4,266,914

453

29,044,076

35 FOOD PRODUCTS

PRICE

%CHANGE

TRADES

VOLUME

230.00

-4.99

46 46 46

611,854 611,854 611,854

499

29,655,930

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

9 10 11 13 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE

MARKET CAP(Nm) 315,519.62

TRADES

MARKET CAP(Nm) 1,100.00 64,570.17 68,500.00 MARKET CAP(Nm) 511.20 MARKET CAP(Nm) 2,490.00

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

PRICE 0.50 67.69 68.50

%CHANGE -

TRADES 0

VOLUME 0

13 10 23

68,681 11,110 79,791

S/N 40 41 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

PRICE

%CHANGE

TRADES

VOLUME

4.26

-

0

0

S/N

0

0

42 43

PRICE

%CHANGE

TRADES

VOLUME

0.83

-

7

274,500

7

274,500

30

354,291

PRICE

%CHANGE

TRADES

VOLUME

0.70 0.50 3.25

-

2 3 0

9,898 26,086 0

60,159.03

1.48

1.37

125

102,771,421

32,462.61

16.90

-

16

42,456

146

102,849,861

146

102,849,861

44 45 46 47 48 49 50 51 52 53 BANKING S/N 54 55

BUILDING CONSTRUCTION ARBICO PLC.

MARKET CAP(Nm) 711.32

56

PRICE

%CHANGE

TRADES

VOLUME

4.79

-

0

0

57

0

0

58

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

MARKET CAP(Nm) 36,960.00 165.00

REAL ESTATE DEVELOPMENT

MARKET CAP(Nm)

PRICE

%CHANGE

7,249.52

2.79

-

3

7,716

66

PRICE

%CHANGE

TRADES

VOLUME

67

100.00

-

0

0

68

UACN PROPERTY DEVELOPMENT CO. LIMITED 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

MARKET CAP(Nm) 2,000.00

PRICE

%CHANGE

TRADES

VOLUME

59

28.00 6.60

-

6 0

2,750 0

60 61

6

2,750

62

TRADES

VOLUME

63

3

7,716

64 65

11,305.89

45.22

-

0

0

69

26,682.70

10.00

-

0

0

71

0

0

72

9

10,466

70

MARKET CAP(Nm) 2,386.33

BEVERAGES--BREWERS/ MARKET DISTILLERS CAP(Nm) CHAMPION BREW. PLC. 16,285.35 GOLDEN GUINEA BREW. PLC. 242.22 GUINNESS NIG PLC 205,895.98 INTERNATIONAL BREWER472,686.45 IES PLC. NIGERIAN BREW. PLC. 1,070,825.07 BEVERAGES--NON-ALCOHOLIC 7-UP BOTTLING COMP. PLC.

MARKET CAP(Nm) 65,321.00

FOOD PRODUCTS

MARKET CAP(Nm)

73 74

PRICE

%CHANGE

TRADES

VOLUME

0.50

-

0

0

75

0

0

76

PRICE

%CHANGE

TRADES

VOLUME

77

2.08 0.89 94.00

-

16 0 26

244,391 0 108,600

78

54.99

0.90

24

153,346

135.05

0.11

71

201,767

137

708,104

PRICE

%CHANGE

TRADES

VOLUME

101.97

-

5

7,664

5

7,664

TRADES

VOLUME

PRICE

%CHANGE

79 INSURANCE CARRIERS, BROKERS AND SERVICES S/N 80 81

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.

60,750.00

12.15

-0.33

117

1,657,790

244,320.00

20.36

1.80

43

2,121,848

76,102.88

29.00

-

29

130,226

17,446.43

2.20

4.76

43

1,217,784

1,861.25

0.50

-

0

0

1,015.74

5.70

-

0

0

50,922.21

19.22

3.89

46

576,597

3,676.41

13.45

-

0 278

0 5,704,245

PRICE

%CHANGE

TRADES

VOLUME

15.60 1,555.99

-0.45 -

71 30

837,891 15,666

101

853,557 VOLUME

FOOD PRODUCTS--DIVERMARKET SIFIED CAP(Nm) CADBURY NIGERIA PLC. 29,299.95 NESTLE NIGERIA PLC. 1,233,365.20

HOUSEHOLD DURABLES NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC. PERSONAL/HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

1,766.22

23.23

-

0

0

3,168.80

3.04

1.33

42

1,082,250

42

1,082,250

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

83,975.59

21.15

2.67

19

156,478

231,006.67

40.21

-1.93

23

343,779

MARKET BANKING CAP(Nm) ACCESS BANK PLC. 306,636.50 DIAMOND BANK PLC 36,361.81 ECOBANK TRANSNATIONAL 298,547.20 INCORPORATED FIDELITY BANK PLC 74,754.98 GUARANTY TRUST BANK PLC. 1,193,434.32 JAIZ BANK PLC 18,562.48 SKYE BANK PLC 7,217.76 STERLING BANK PLC. 32,533.17 UNION BANK NIG.PLC. 127,573.16 UNITED BANK FOR AFRICA 356,015.98 PLC UNITY BANK PLC 6,429.14 WEMA BANK PLC. 19,287.23 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

MARKET CAP(Nm)

82

MORTGAGE CARRIERS, BROKERS AND SERVICES ABBEY MORTGAGE BANK PLC

500,257 8,856,077

PRICE

%CHANGE

TRADES

VOLUME

10.60 1.57

1.44 4.67

149 44

11,161,044 10,742,459

16.27

-4.29

38

1,465,326

2.58 40.55 0.63 0.52 1.13 7.51

4.88 -0.49 1.59 4.00 4.63 -3.72

144 123 11 96 75 35

10,080,470 5,390,824 1,447,783 15,558,096 6,500,472 560,260

10.41

1.07

190

5,929,824

0.55 0.50

3.77 -3.85

29 39 973

2,630,000 2,453,000 73,919,558

PRICE

%CHANGE

TRADES

VOLUME

10,292.50

0.50

-

0

0

3,742.31

0.54

3.85

30

3,669,357

21,210.00

2.02

4.66

10

204,161

3,000.00

0.50

-

2

1,100

14,521.84

1.40

-

7

100,400

7,364.75

0.50

-

0

0

7,000.00 2,411.47

0.50 0.53

-

0 0

0 0

1,913.74

0.50

-

0

0

3,070.00

0.50

-

1

100

642.04

0.50

-

0

0

3,661.72

0.50

-

0

0

3,308.17

0.77

-

2

14,011

5,520.00

0.69

4.55

6

401,500

4,000.00

0.50

-

0

0

8,343.19

1.58

-4.82

2

100,000

3,869.74

0.50

-

0

0

2,759.15

0.50

-

1

20,000

3,334.38

0.50

-

0

0

4,170.41

0.50

-

1

100

6,455.52

0.50

-

0

0

4,670.54

0.50

-

0

0

1,291.15

0.50

-

0

0

6,933.33

0.50

-

0

0

8,000.00

0.50

-

0

0

6,691.37

0.50

-

21

938,228

83

5,448,957

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

11,799.67

2.58

-

0

0

2,858.30

1.25

-

MICRO-FINANCE BANKS S/N

42 605

MARKET CAP(Nm) 5,460.00

10

11,000

10

11,000

PRICE

%CHANGE

TRADES

VOLUME

1.30

-

0

0

Ëœ ÍťËœ ͺ͸͚͜ Ëž T H I S D AY

40

MARKET NEWS

Vetiva Fund Managers to Rebalance Exchange Traded Funds Suite Goddy Egene Vetiva Fund Managers Limited yesterday said it would rebalance  its Exchange   Traded Fund (ETF) suite.  Vetiva Fund Managers Limited has funds that track the price and yield performance of the various indices in the market. But the Nigerian Stock Exchange (NSE) has rebalanced the indices   as the end of December, 2017.

Vetiva said in line with the action of the NSE, it will also make adjustment to its ETF

suite. “Vetiva Fund Managers Limited refers to the release by the NSE of the results of the year-end review of the NSE indices which include the NSE 30, NSE Banking, NSE Consumer Goods and NSE Industrial indices. As the investment objective of the Vetiva ETF Suite is to track the price and yield performance of the relevant indices, any change to the underlying indices will require the ETF Trusts to make corresponding adjustments to the portfolios

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

on rebalancing,�  the investment banking firm said.

The firm added further to the above,   it will rebalance its ETF portfolios in line with the changes to the relevant indices.

Also, relevant weightings adjustments will be made to the portfolios in line with the review of the relevant indices.

Vetiva notes that there are no changes to the NSE Banking and NSE Industrials Indices following the yearend review.

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 29-Dec-2017, unless otherwise stated.

“The changes to other indices, however, include, but are not limited to, the entry of Dangote Flour Mills, NASCON  Allied Industries Plc and Diamond Bank Plc to the NSE 30 Index and the entry of Northern Nig. Flour Mills Plc to the NSE Consumer Goods Index.

Other changes include the exit of Oando Plc, Seven-up Bottling Company Plc and UAC of Nigeria Plc from the NSE 30 Index and the exit of 7up Bottling Company Plc from the Consumer Goods

Index.

The NSE-30 and NSE Industrial Indices are modified market capitalization index with the numbers of included stocks fixed at 30 and 10, respectively. The stocks are selected based on their market capitalisation from the most liquid sectors.

The liquidity is based on the number of times the stock is traded during the preceding two quarters. To be included, the stock must have traded for at least 70

percent of the number of times the market opened for business.

The Nigerian bourse began publishing the NSE 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NSE developed four sectoral indices and developed the NSE Pension Index in 2013, with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors.

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 180.91 182.36 42.74% Nigeria International Debt Fund 235.18 236.77 11.37% 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 18.23% ACAP Income Funds 0.65 0.65 84.76% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 19.65% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 18.85 19.42 52.65% ARM Discovery Fund 391.67 403.47 36.39% ARM Ethical Fund 27.56 28.39 23.36% ARM Money Market Fund 1.00 1.00 17.94% 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 151.89 152.96 44.41% AXA Mansard Money Market Fund 1.00 1.00 17.22% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 18.68% Paramount Equity Fund 12.07 12.38 28.96% Women's Investment Fund 98.08 100.60 15.94% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 18.01% CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 18.40% Coronation Balanced Fund 1.09 1.11 9.65% Coronation Fixed Income Fund 1.03 1.06 4.32% FBN QUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,147.93 1,149.09 13.03% FBN Heritage Fund 139.29 140.66 24.43% FBN Money Market Fund 100.00 100.00 17.70% FBN Nigeria Eurobond (USD) Fund - Institutional $113.39 $113.49 9.79% FBN Nigeria Eurobond (USD) Fund - Retail $112.76 $112.86 9.92% FBN Nigeria Smart Beta Equity Fund 170.78 173.31 51.28% 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 1.40 1.43 50.53% Legacy Short Maturity (NGN) Fund 2.99 2.99 16.21% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,973.37 3,011.03 35.14% Coral Income Fund 2,468.97 2,468.97 18.44% 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 16.84% 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 17.50% Vantage Balanced Fund 2.10 2.13 25.06%

Vantage Guaranteed Income Fund 1.00 1.00 18.41% Kedari Investment Fund (KIF) 115.08 115.08 18.61% LOTUS CAPITAL LTD ďŹ ncon@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 21.39% Lotus Halal Fixed Income Fund 1,052.42 1,052.42 11.61% 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 14.08 14.21 45.75% Meristem Money Market Fund 10.00 10.00 16.80% 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 1.25 1.27 25.55% PACAM Fixed Income Fund 11.00 11.07 5.87% PACAM Money Market Fund 10.00 10.00 15.14% 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 129.39 131.63 27.66% 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 1.48 1.48 19.02% 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 2,252.35 2,266.90 23.05% Stanbic IBTC Bond Fund 176.45 176.45 14.61% Stanbic IBTC Ethical Fund 1.01 1.02 31.82% Stanbic IBTC Guaranteed Investment Fund 220.25 220.25 17.85% Stanbic IBTC Iman Fund 180.10 182.45 38.73% Stanbic IBTC Money Market Fund 100.00 100.00 16.93% Stanbic IBTC Nigerian Equity Fund 9,735.52 9,854.34 28.42% 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 1.33 1.35 19.30% United Capital Bond Fund 1.57 1.57 28.26% United Capital Equity Fund 0.92 0.93 36.13% United Capital Money Market Fund 1.00 1.00 15.30% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.74 12.92 18.21% Zenith Ethical Fund 13.45 13.60 7.88% Zenith Income Fund 19.00 19.00 14.87%

REITS NAV Per Share

Yield / T-Rtn

11.41 132.46

1.01% 6.85%

Bid Price

Offer Price

Yield / T-Rtn

12.12 144.35 110.27

12.22 147.50 112.38

40.09% 45.93% 45.54%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 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

4.70 9.53 17.66 19.39 149.06

4.74 9.61 17.76 19.59 151.06

69.64% 35.36% 49.06% 21.43% 17.33%

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.

T H I S D AY WEDNESDAY JANUARY 3, 2018

41

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T H I S D AY WEDNESDAY JANUARY 3, 2018

T H I S D AY WEDNESDAY JANUARY 3, 2018

43

WEDNESDAY, JANUARY 3, 2018˾ T H I S D AY

44

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Pakistan Summons US Ambassador over Trump Tweet Pakistan has summoned the US ambassador in a rare public rebuke after Donald Trump threatened to cut aid to Islamabad over its“lies”about militancy, AFP reports.

David Hale was asked to attend the foreign ministry on Monday night, after Islamabad responded angrily to the US President’s allegations that it provided safe havens for militants -- the latest dispute to rock their alliance.

A US embassy spokesman confirmed Tuesday Hale met officials but had no comment on what was said.

There was no immediate response from foreign ministry officials. But Prime Minister Shahid Khaqan Abbasi convened a National Security Council meeting later Tuesday attended by the powerful military chief and other senior military and government officials, a foreign ministry spokesman said.

Trump used his first tweet of 2018 to tear into Islamabad.

“The United States has foolishly given Pakistan more than 33 billion dollars in aid over the last 15 years, and they have given us nothing

but lies & deceit, thinking of our leaders as fools,” he said.

“They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!”

Pakistan hit back swiftly, saying it had done much for the United States, helping it to “decimate” Al-Qaeda, while getting only “invective & mistrust” in return. The angry comments came from its foreign and defence ministers.

Trump’s tweet offered no further details. He first hinted at cutting aid to Pakistan in an August speech charting his Afghan policy, and administration officials including Vice President Mike Pence have also intimated cuts in recent months.

Observers said that without further information the tweet could just be more hot air between the allies, whose often fractious relationship has taken a nosedive under Trump.

“Trump is in the habit of issuing hardline statements which only spoil the atmosphere and violate diplomatic niceties,” analyst Hasan Askari told AFP, adding that Pakistan

should seek more information.

“It will only add to the acrimony that has crept into the bilateral relationship after Trump’s arrival in the White House,”another analyst, Imtiaz

Gul, told AFP. After the September 11, 2001 attacks on the United States, Washington forged a strategic alliance with Islamabad to help in its

fight against militancy.

But Washington and Kabul have long accused Islamabad of supporting militant groups including the Taliban, believed to

have links to Pakistan’s shadowy military establishment which aims to use them in Afghanistan as a regional bulwark against arch-nemesis India.

George Weah Asks Opponent to Nominate Candidates for Appointment In a move that suggests a desire to unite the country after the recent presidential run-off election, the president-elect of Liberia, George Weah, has asked his opponent to suggest capable candidates for appointment into his government.

The former football star who won a landslide in the December 26, 2017 run-off election, visited his opponent in the election and the outgoing vice president, Joseph Boakai.

Weah, according to Premium Times, wrote in his Facebook page that he visited Boakai on New Year ’s Day as “a sign of solidarity and good will”, saying the election was over

and that Liberia was the true winner.

“I informed him that Liberia is the true winner, and that we must all work collectively in the best interest of our country,” he wrote.

“I further intimated that he’s a man of impeccable character and experience, and that his expertise will be needed in order to move our country forward. I further assured him that he will be granted due courtesy according to the law as a statesman and outgoing VP. “Finally, I did suggest to him to put forth his people that he believes are capable of helping us move Liberia forward. Happy new year to you all,” he wrote.

Boakai conceded defeat to Weah even before the final results of the election was announced.

He explained that he did so because he wanted to prevent bloodshed.

“I reject any temptation of imposing pain, hardship, agony, and uncertainty upon our people. My name will not be used as an excuse for one drop of human blood to be spilled in this country,” he said.

Below is Weah’s Facebook post.

“Earlier today, I paid a courtesy visit to the Honorable Vice President, Hon. Joseph Nyumah Boakai as a sign of solidarity and good will; and to wish him happy new year. I expressed to him that the elections are

over now, and that there’s no winner here.

“I informed him that Liberia is the true winner, and that we must all work collectively in the best interest of our country. I further intimated that he’s a man of impeccable character and experience, and that his expertise will be needed in order to move our country forward. I further assured him that he will be granted due courtesy according to the law as a statesman and outgoing VP. “Finally, I did suggest to him to put forth his people that he believes are capable of helping us move Liberia forward. Happy new year to you all.

“May God bless you.”

WEDNESDAY, JANUARY 3,2018˾ T H I S D AY

45

NEWSXTRA

Ikpeazu Highlights Benefits of Restructuring Ejiofor Alike Governor Okezie Ikpeazu of Abia State has re-echoed

the need to restructure the country, saying a restructured Nigeria is feasible provided it favours “a peaceful, safe,

Abubakar Shekau Appears in Video Amid Surge in Boko Haram Attacks Boko Haram leader, Abubakar Shekau, released a video message yesterday claiming a series of attacks in North-east Nigeria during the festive season.

According to AFP, the shadowy leader released his first video message in months amid a surge in violence casting doubt on the Nigerian Government’s claim that the jihadist group is defeated.

“We are in good health and nothing has happened to us,” Shekau said in the 31-minute video message spoken in the Hausa language common across northern Nigeria.

“Nigerian troops, police and those creating mischief against us can’t do anything against us, and you will gain nothing.”

“We carried out the attacks in Maiduguri, in Gamboru, in Damboa. We carried out all these attacks, he said.”

The video then shows footage from a Christmas Day attack on a military checkpoint in Molai village on the outskirts of the Northeast Nigerian city of Maiduguri, which the military said was thwarted by troops after one hour of battle.

Boko Haram fighters in torn clothes were shown shooting from the back of battered pickup trucks.

Shekau’s message comes

during an acceleration of Boko Haram attacks and just days after the jihadists killed 25 people outside Maiduguri, the birthplace of the Islamist insurgency.

In December, Boko Haram attacked convoys of Nigerian soldiers and dispatched suicide bombers into crowded markets in towns across Northeast Nigeria.

At least 50 people were killed in November when a suicide bomber blew himself up at a mosque in Adamawa State.

But President Muhammadu Buhari said in his New Year address that Boko Haram has been “beaten.”

“Isolated attacks still occur, but even the best-policed countries cannot prevent determined criminals from committing terrible acts of terror,” Buhari said.

Shekau, a leader known for his lengthy, wild-eyed video messages, took over Boko Haram in 2009 after the death of its founder, Muhammad Yusuf.

Boko Haram, whose Islamist insurgency has left at least 20,000 people dead in Nigeria since it began in 2009, has long been fractionalised.

In 2016, it suffered a major split when the so-called Islamic State group recognised Yusuf’s son, Abu Mus’ab al-Barnawi, as a leader.

prosperous, virile, united, and indivisible Nigeria that offers every man, woman and child a brighter and better future where each and everyone has a chance to build and share in this great country’s potential.”

In his New Year message, the governor noted that the clamour for the re-structuring of the country’s federal system is in response to the cries of marginalisation by various segments of the country as well as the understanding that the federation, as presently constituted, impedes optimal development and the realisation of the peoples’ aspirations.

He added that by whatever name it is christened, restructuring is not a magic bullet that would resolve all of Nigeria’s challenges or those of any section, region or zone of the country.

The governor, however, stated that this assertion does not detract from the fact that the country is in need of redefinition and conversation to address all the imbalances inherent in

the present Nigerian nation.

“I am therefore constrained to draw our attention to the fact that the needs of our dear country is beyond restructuring because we are yet to realise the urgency and depth thereto, rather, exigencies of our time make this roundtable imperative a sine-qua-non. In addition to the debate on restructuring, on how resources are allocated, power shared or devolved, there is need for Nigerians to renew their commitment to moral renewal, spiritual reawakening and reorientation. Reframing the mindset and attitude of the citizens are a major catalyst in our objective to propel our country to greater height. Therefore my fear is that the greatest threat to the call for restructuring is our fixated mindset and lack of mutual respect for one another,” he explained.

According to him, the present times therefore call for patriotism, tolerance, strength in our diversity, fair play, selfsacrifice, hard work, selfless

service and commitment to public wellbeing.

He argued that it is in the interest of the country that the people build bridges of accommodation, understanding and brotherhood.

“Some integral issues staring us in the face include are Citizens who are fractured, disengaged and poorly mobilised for the needed sacrifice required to trace the pathway to sustainable economic growth and nation building and an unwilling populace reluctant to trust any one, neither proponents nor opponents of the call for re-structuring. This is dangerous because until we see more Igbos moving into Gwoza and Sambisa to build shops and plazas just as we expect the Dantatas and Deribes establish in Enugu, Abakaliki and Ohafia we cannot expect any meaningful change. Taking this into cognisance, the need for a holistic approach to restructuring becomes imperatives,” he added.

He stressed that the

political class and leadership must demonstrate exemplary conduct in terms of probity, integrity, transparency, consistency and altruistic commitment in order to mobilise Nigerians to face their common challenges of poverty, ignorance, infrastructural decay and under development.

“Stellar leadership at various levels in our country is also a critical requirement, if we must galvanise our people, provide templates and framework that is capable of supporting a redistribution of opportunities and resources, not necessarily by collecting from one zone and throwing to another, but by empowering the ordinary citizens on terms that he/she can comprehend and grasp for meaningful participation in the Nigerian socioeconomic enterprise. The decisive step in our long pathway of restructuring is probably to create a sense of inclusion, participation in our economic and democratic process,” Ikpeazu said.

Atiku’s Associate, Lawal Kaita Dies at 85 Ibrahim Shuaibu ÓØ ËÞÝÓØË A political associate of the former Vice President, Atiku Abukakar, Alhaji Lawal Kaita, passed on yesterday after protracted illness.

He was aged 85.

Kaita was also former governor of the old Kaduna State, died in Abuja at the Nizamieye Turkish Hospital.

He was born in 1932 in Katsina and was elected governor of Kaduna State on the platform of the defunct National Party of Nigeria (NPN).

Late Kaita was a member of the Constituent Assembly of Nigeria (1977–1978), and later became Special Assistant to President Shehu Shagari after losing his first governorship attempt to the Peoples Redemption Party (PRP) candidate, Alhaji Balarabe Musa, in 1979.

The late Kaita was a leading member of late Shehu

Yar’Adua’s political movement, and foundation member of Action Congress of Nigeria (ACN).

Meanwhile, Governor Aminu Bello Masari of Katsina State has expressed sadness over the death of Kaita, saying Nigeria has lost a patriotic son who had contributed immensely to the development of contemporary politics in Nigeria.

Governor Masari, in a statement signed by his Senior Special Assistant (SSA) on Media, Abdu Labaran Malumfashi and made available to THISDAY, described the deceased as one of the most accommodating, generous and refined politicians the nation has produced, adding that politics will never be the same without the jocular banter of the deceased .

“Katsina State, and indeed the nation at large, will miss the wise counsel of Kaita.

Family Announces Okeke’s Death The Okeke family of Umokpo, Ohoba in Ohaji/Egbema Local Government Area of Imo State has announced the demise of their patriarch, Chief Linus Ejiogu Okeke (KSM).

According to the funeral

arrangement, he would be buried on Friday, January 5, 2018. His body is expected to depart Aladimma mortuary to his home town on same day. He survived by his wife, children, grand-children, as well as other relatives.

LET’S BE DEDICATED

Edo State Governor, Mr. Godwin Obaseki (right), interacting with a cross section of senior civil servants after a meeting with them at the Government House, in Benin City....yesterday

Shehu Sani Tackles Buhari for Saying Nigerians are Impatient Says president losing popularity Damilola Oyedele ÓØ ÌßÔË

administration, said Nigerians can be impatient as they want to The senator representing improve “our conditions faster Kaduna Central in the National than may be possible considering Assembly, Shehu Sani, has our resources and capabilities.” disagreed with President Buhari said this in respect to Muhammadu Buhari’s position the clamour for restructuring that Nigerians are an impatient where he noted that Nigeria’s population. problems have more to do with The senator, a member of the process, rather than structure.

All Progressives Congress (APC), Sani, commenting on his same as the president, said facebook page yesterday, Nigerians have demonstrated an however, said Nigerians love unprecedented level of patience Buhari to the point of hypnosis. with the Buhari administration.

He added that some of the This, Sani said, was in spite fanatical supporters of the of the fact that the president president are intolerable of is losing his popularity among criticisms at him, and have Nigerians, especially the masses. succeeded in creating an Buhari, in his New Year atmosphere of fear and silence. message, while speaking on the The senator’s comment read achievements and plans of his in full:

“The president said Nigerians are impatient. I disagree with this submission. Nigerians, especially the masses, have demonstrated an unprecedented level of patience with this administration. The love of the masses for the president is beyond the usual and even stretched to hypnosis. The president is not as popular as he used to be but still command an appreciable cult followership among the poor.

“The poor still see him as their messiah. They endure all pains and hardships and see it as sacrifice. They denounce his critics even when they are right, they applaud the president even when he’s wrong. In the heart of many of his followers,

he’s raised to a saintly, angelic and infallible mortal.

“Until recently, the fanaticism of the president supporters in some parts of the country has created a tyrannical atmosphere of fear and of silence, we have an institutionalise intolerance to contrary opinions and to be safe is to kow tow.

“When the president went on long health vacation, they prayed and never protested, they even chased Charley Boy and could have chocked him if he stayed.

PMB is the only President in history that can whip people with koboko and they will smile and thank him for the lashes. The masses are patient. And love for the president is the power of their patience.”

WEDNESDAY, JANUARY 3, 2018˾ T H I S D AY

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SEC Gives Multiple Subscriptions Investors March 31 Deadline to Consolidate Shareholding Says forensic audit on Oando will go on this month Chineme Okafor ÓØ ÌßÔË The Securities and Exchange Commission (SEC) has said investors who bought shares of the same company using different names during public offers have an extended deadline of March 31, 2018, to consolidate their multiple subscriptions into a single account and equally

regularise their shareholding.

SEC’s acting Director General, Mr. Abdul Zubair, disclosed this at a briefing in Abuja yesterday.

He said all shares which are not regularised at the expiration of the date would be transferred to the Capital Market Development Fund on trust.

Zubair, also said the free

Benue Anti-grazing Law: Tension in Nasarawa as Thousands of Farmers Desert Abodes Emmanuel Ukumba ÓØ ËʨË Tension has enveloped Nasarawa State as thousands of Tiv farmers in the state have deserted their abodes following attacks on some communities in the neighbouring Benue State by men suspected to be Fulani herdsmen last Monday.

The communities deserted by the Nasarawa Tiv farmers include Boutsa, Demekaa, Ayoosu, among other villages in Keana Local Government Area of the state for fear of being attacked by the rampaging herdsmen.

The deserted farmers are reported to be currently taking refuge at Keana South Primary School.

The President of Tiv Youth Organisation in Nasarawa State, Peter Ahemba, while addressing the displaced Tiv people in Keana, regretted the untold hardship being experienced by his kinsmen as a result of the unfortunate development.

He pointed out that the harassment of Tiv people of Nasarawa State by herdsmen as a result of the implementation of anti-open grazing law by the Benue State Government must not be allowed to continue as the Tiv people of

Nasarawa State have nothing to do with the anti-grazing law enacted in Benue State.

“Since the implementation of the anti-open grazing law by the Benue State Government, the herdsmen have continued to harass our people here in Nasarawa State as if we are party to the decision of the Benue State Government,” he said.

Ahemba then appealed to the Nasarawa State and federal governments to mobilise adequate security operatives to the troubled areas so as to prevent further break down of law and order as well as ensure the quick return of the deserted farmers to their homes.

The Tiv youth leader therefore appealed to the victims to remain calm as government was already taking measures to arrest the situation.

When contacted over the incident, the Nasarawa State Police Command Public Relations Officer, Kennedy Idirisu, confirmed the development but however said the farmer were leaving their homes on apprehension as there was no attack on their homes by the alleged herdsmen.

registration for e-dividend enrolment had ended on December 31, 2017, and that from January 1, 2018, enrolment for e-dividend will attract a charge of N150 per mandate.

“With a view to encouraging many more investors to consolidate their multiple subscriptions into one account, the SEC wishes to announce an extension of the forbearance for multiple accounts till March 31, 2018.

“Accordingly, investors that bought shares of the same company during public offers, using different names, are allowed till March 31, 2018, to continue to approach their stockbrokers or registrars, to regularise their shareholdings, in line with SEC rules on customer identification. Thereafter, all shares not regularised shall be transferred, on trust, to the Capital Market Development

Fund,” Zubair said.

On the e-dividend programme which has seen about 2.1 million enrolments, Zubair stated that “All investors that are yet to enroll are enjoined to continue with the registration exercise a marginal cost of N150 only.”

“Such investors should continue to approach their banks or registrars, as usual, to seamlessly mandate their bank accounts for the collection of their dividends electronically, including unclaimed dividends, not exceeding 12 years of issue, as the N150 would not be demanded from them at the point of registration.

“For the avoidance of doubt, the N150 fee would not be demanded from investors at the point of registration and/ or submission of completed e-Dividend Mandate Forms,” he explained further.

Zubair also noted that in

line with approved rules of the commission, “all registrars have been directed to stop the issuance of dividend paper warrants with effect from January 1, 2018.

“For the avoidance of doubt, all paper dividend warrants issued up till December 31, 2017 are valid and should be honoured. Banks and registrars are accordingly implored to please note and adhere,” he added.

Responding to questions from journalists, Zubair, insisted that the commission order to conduct a forensic audit on indigenous oil firm, Oando Oil Plc, would go ahead this month.

He said the audit was held up due to legal challenges that have now been removed.

“SEC as a lawabiding corporate entity, has been a little bit careful.

We gave directives that the audit should go on and we still stand

by that. There is no going back on the forensic audit.

“But we had a little challenge down the line because the matter went to court, and as responsible citizens, we had to wait but now that the court has ruled, the auditors have sent out words that they will continue the audit this January. As far as we are concerned there is no going back,” he stated.

Further on the e-dividend fee, Director of External Relations of SEC, Mr. Henry Rowlands, said beginning from January 1, 2018, SEC would no longer underwrite the N150 processing fee for enrolment for e-dividend payments.

He, however, explained that investors would not be charged at the point of registration but at the point of submission of the form at the bank when the application has been approved and form uploaded.

Director Dies After Receiving VISIT TO STATE SECRETARIAT L-R: Ogun State Deputy Governor, Mrs. Yetunde Onanuga; Governor Ibikunle Amosun; Head of Service, Mr. Abayomi Sobande; and Sack Letter in Kogi Commissioner for Health, Dr. Babatunde Ipaye, during an unscheduled inspection of Ministries, Departments and Agencies (MDAs), at the

Yekini Jimoh ÓØ ÙÕÙÔË

A director working with the Kogi State Pension Board, Mr. Alphonsis Ameh, 61, has died barely three days after receiving a sack letter from the state government.

Ameh, who until his suspension in February 2016 at the beginning of Governor Yahaya Bello’s administration, was a Director of Administration and Finance (DAF) in the state pension board.

He hailed from Ade community in Olamaboro Local Government Area, and was a resident of Zone 8 area, opposite Science School, in Lokoja, the state capital.

His niece, who spoke on condition of anonymity, told journalists yesterday that Ameh was among the directors and permanent secretaries that were suspended in February 2016 by the present government.

According to her, Ameh who was a Grade Level 16 officer in the state pension board, had not

been paid any salary since his suspension about two years ago, stressing that the 61-year-old civil servant, who officially received his sack letter on December 29, 2017, died in the early hour last Monday of high blood pressure at the Federal Medical Centre, Lokoja.

Meanwhile, the Kogi State Government has released the second batch of workers in the public service with forged certificates.

The list which included workers on both state and local government payrolls has almost 800 names.

In a statement issued and signed yesterday by the state Auditor General, Alhaji Yakubu Okala, he stated that government was committed to sanitising the public service and makes it the pride of the state.

It noted that it will accord top priority to the payment of salary this year and vowed to pursue programmes and policies that will impact on the lives of civil servants.

state secretariat, Oke-Mosan, Abeokuta...yesterday

Unravel Killers of Kaduna Traditional Ruler, Wife, Others, Community Tells Security Agencies Paul Obi ÓØ ÌßÔË The Numana Community Development Organisation (NCDO) yesterday condemned in strong term the brutal assassination of the paramount ruler and traditional leader -Etum Nunama, His Royal Highness, Dr. Gambo Makama, his wife and two others on December 31, 2017.

The paramount ruler who was the Chairman, Traditional Council, Sanga Local Government and his wife were murdered, his vehicle, house and other valuebles were also burnt down by yet -to -be identified killers at his ancestral village Tsauni Ayuba, when he left his palace at Gwantu, the Sanga Local Government Headquarters to celebrate the New Year with his brothers.

In a statement signed by NCDO National President, Mr. Sabo Gwamna and Secretary, Mr. Mbachi Jonathan Adams, the community said the two others were also killed outside the same village, their bodies were recovered the following day.

“Apart from the killing of the paramount ruler, his wife and two others, the killers also shot his son. He is currently receiving treatment in the hospital.

“NCDO, the socio-cultural umbrella body of the Numana ethnic group in Nigeria, therefore sees this gruesome murder of our paramount ruler as one too many, considering that in recent times, the Sanga Local Government Area, and in fact, the entire Southern Kaduna has been serially attacked and many people killed by these merchants of death.

“It is worth noting that a week before the barbaric murder of our paramount ruler, two of our sons were waylaid and attacked on their way to their village- Janda, still in Sanga Local Government Area, by suspected Fulani herdsmen. They were beaten to stupor, their money, mobile phones and other valuables were also carted away.

“We are worried that, it seems, these agents of darkness have set their deadly eyes on our people and are determined to annihilate us.

“We, therefore, call on the Nigeria Police Force under the leadership of the Inspector General of Police (IG), Ibrahim Idris, the Director General of the Department of State Services (DSS), and other security agencies, to, as a matter of

urgency, spread their tentacles and unravel the killers of our traditional ruler, his wife and two others so that they can face the wrath of the law.

“While we call on sons and daughters of Numana all over the country, especially in Gwantu, the Sanga Local Government headquarters, to remain calm and not take the law into their hands, we also call on the Forward Operation Base (FOB) of 2 Battalion of the Nigerian Army in Zango Kataf and the Kaduna State Police Command to take proactive measures to protect our people from these deadly killers.”

They added: “This call has become extremely important so as to avoid the patience of our people from being overstretched.”

WEDNESDAY, JANUARY 3, 2018˾ T H I S D AY

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Dickson Warns Bayelsa Youths against Cultism, Other Vices Two feared dead in rivalry over pipeline jobs Emmanuel Addeh ÓØ ÏØËÑÙË The Governor of Bayelsa State, Honourable Henry Seriake Dickson, yesterday advised youths of the state to resist any temptation to disrupt the peace of the state by involving in cult or other related vices.

Dickson spoke even as it was learnt that at least

two persons had lost their lives in Ondewari, a coastal settlement in Southern Ijaw Local Government Area, following clashes between two rival gangs over who should get a pipeline surveillance contract in the area.

A statement by Mr. Fidelis Soriwei, the governor’s Special Adviser on Media Relations, said Dickson made the comment while addressing

Agents Escape Death as Fire Razes NPA Complex at Lagos Seaports Eromosele Abiodun Clearing agents operating at the Tin-Can Island Port and Terminal Multipurpose Limited (PTML) yesterday escaped death as the office complex was razed by fire.

The office complex which was densely populated was rented out by a subsidiary the Nigerian Ports Authority (NPA), Seaview Properties Limited to clearing agents.

THISDAY reliably gathered that the fire broke out in one of the container offices, thereby affecting about 40 offices in the complex Earlier yesterday, a similar fire outbreak happened at an NPA building popularly know as ‘national’ around located at the Tin Can Island Port second gate.

The fire outbreak affected several offices including that of a former vice chairman of Association National Licensed Customs Agents (ANLCA).

Tin Can Port Chairman of International Freight Forwarders Association (IFFA), Ojo Akintoye, told THISDAY that he was still at the scene of the fire at PTML container complex.

He said operators with

offices inside the complex are suspecting foul play, adding that the fire might have been caused deliberately.

He said the office of a Board of Trustees (BoT) member of ANLCA Sanni Shittu as well as other top clearing agents occupying the left wing of the complex have been razed down completely.

Also, a former Public Relations Officer of ANLCA, Gaming Adeola, also confirmed the development, claiming sabotage.

“That was the new year gift we got but we are unperturbed,” he said on phone The NPA had given occupants of the PTML container complex an eviction notice in 2016.

But Chairman of the complex, Chukwuemeka Shedrack, had kicked against the order, saying that NPA was trying to render the operators homeless.

The occupants alleged that there was an attempt

by NPA to concession the complex to a popular port concessioniare.

The occupants subsequently took NPA to court in 2017.

youths at the Oxbow Lake Pavilion during a musical concert organised by the State Ministry of Tourism.

The governor noted that his administration was against youth involvement in cultrelated activities and called on them to collaborate with the government and other stakeholders to actualise the desired development and stability of the state.

“Don’t allow people to mislead you. Say no to those who want you to join cults. We don’t want to see our young people getting involved in cultism.”

He added: “You guys are important to us and your happiness is key to the prosperity, development and stability that we have been working hard to see in this

state.

“Let me remind you all, the young people of this state, that we are interested in your future, that everything we are doing in this government: the schools we are building, the other facilities we are putting in place are all for your future because you are the most important people in this government.”

Governor Dickson promised that the state government would ensure the organisation of an annual musical event of top Bayelsa artistes and others at the Ox Bow lake pavilion in Yenagoa.

Meanwhile, some residents of Ondewari, were said to have fled, with several spending the festivities in the bushes, following clashes between rival gangs in which

two persons were feared dead.

A resident and environmentalist, Mr. Alagoa Morris, told journalists in Yenagoa that the community had been deserted since the crisis commenced last Sunday.

While urging relevant security agencies to intervene and restore peace to the community, Morris said two people in the community died in similar circumstances last July.

“Our pain is that this crisis was avoidable; the community leadership had cried out to state government and had drawn the attention of the security agencies to the raging issues bordering on pipeline surveillance jobs at oilfields in the area, but nothing happened.

“The situation would have

been nipped in the bud, but here we are, four youths have been lost to the oil industryinduced conflict that has left the community mourning.”

According to him, efforts are on at the community level to resolve the crisis.

Also, acting Paramount Ruler of the community, Chief Peresho Erefawari, decried the frequent clashes by armed gangs in the area and urged the security agencies to intervene.

“The clash was caused by a protest by some youths in the community who were aggrieved over their exclusion in the petroleum pipeline protection jobs in the area.

“We have tried in vain to broker a truce so that peace will prevail, but to no avail,” he said.

CAUGHT AT LAST

L-R: Suspected Badoo chief herbalist, Fatai Adebayo (alias Alese); Lagos State Commissioner of Police, Mr. Edgal Imohimi; Commander, Rapid Response Squad (RRS), Tunji Disu during the arrest of the Badoo chief herbalist at his shrine in Imosan village, Ijebu-Ode, Ogun State...yesterday

Faleke Criticises Kogi Gov over Car, Cash Donations to Gunmen Abduct Traditional Masquerades Ruler in Kaduna without fulfilling it could go state government that had administrator for Ijumu Local James Emejo ÓØ ÌßÔË John Shiklam ÓØ ËÎßØË A traditional ruler in Zangon Kataf Local Government Area of Kaduna State, the Agwam Akulu, Mr. Yohanna Sidi Kukah, has been abducted by unknown gunmen.

Kukah, a second class chief of the Ikulu people is the younger brother to Bishop Matthew Hassan Kukah of the Catholic Diocese of Sokoto.

The traditional ruler was said to have traveled from his palace in Kumuru to Anchuna, his village where the gunmen invaded his house.

They were said to have arrived the private residence at about 9p.m. and started shooting sporadically and ordered

him to come out.

One of his guards who attempted to prevent the gunmen from taking the traditional away was also kidnapped.

A community leader in the area, Mr. Waziri Ashafa, who confirmed the incident said the gun men drove away with the traditional ruler and his guard in a vehicle.

The spokesman of the Kaduna State Police Command, Mukhtar Aliyu, did not pick his call when THISDAY called to confirm the incident.

The abduction is coming barely 38 hours when another traditional ruler in Sanga Local Government Area of the state and his wife were murdered by suspected herdsmen.

Deputy governorship candidate of the All Progressives Congress (APC) in the 2015 gubernatorial election in Kogi State, Hon. James Abiodun Faleke, has criticised the donation of six Toyota Venza Cars as well as cash gifts of N2 million each by the state Governor, Yahaya Bello, to masquerades in his hometown in Okene.

The donations, which reportedly took place during the last Ekwechi (masquerade) festival in December had been described as the height of absurdity by Faleke.

He said it was indeed absurd that the same governor who had not been able to pay workers salaries for several months and promised to clear all outstanding salaries and pensions last December

ahead to spend money buying car gifts for masquerades.

According to him, “I honestly don’t know what is happening in our state.

We thought the governor would heed popular call to settle all outstanding salaries and pensions in the state last December as he promised after receiving the Paris Club refunds of close to N12 billion only for him to pay 60 per cent of 2 months.

“So where did the rest of the money go? Next we heard was the news of the six Venza cars he bought and presented to masquerades in Okene along with N2 million cash to each of the masquerades.

“How else can one be so insensitive to the welfare, yearning and aspirations of his people?”

According to Faleke, “The

denied all along it had no outstanding (obligations) just released a fresh list of “cleared staff.

“What this means is that those staff whose names were just released had been without pay for the past two years when the screening exercise began. So who is fooling who?”

The lawmaker bemoaned a situation where instead of providing succour for the citizenry across the state, what obtains is intimidation and harassment of hapless and harmless citizens all over the places.

“A case in point is the recent case in Iyamoye community where a group of youth were distributing rice to the people for Xmas and were attacked by soldiers providing security for Bello’s appointed

Government, Taofeek Isah!

As an Administrator, the State Government provided him soldiers with which he harasses perceived political opponents across the State. Of course, the newstands were agog few days ago with the news of how “unidentified” thugs hijacked the first batch of rice consignments donated by some senators to alleviate hunger ravaging the workers’ homes. That is the reality of our dear state at the moment.”

In a statement, Faleke called on Bello to “turn a new leaf this year by re-ordering his government’s priorities away from childish, wasteful, unproductive extravaganza to meaningful statecraft aimed at ameliorating the current unacceptable level of pains being inflicted on the people of the state.”

48

WEDNESDAY, JANUARY 3, 2018Ëž T H I S D AY

NEWSXTRA

Sirika: $400m Needed to Complete Abuja Airport New Terminal Expresses disappointment with pace of work

Kasim Sumaina Ă“Ă˜ ĂŒĂ&#x;ÔË The Minister of State for Aviation, Mr. Hadi Sirika, yesterday disclosed that the new terminal currently under

construction at the Nnamdi Azikiwe International Airport, Abuja would need additional $400million to $500 million to fully function. The minister hinted this when

CAN Expresses Displeasure over Kwara New Year Attack Police arrest 32 suspects Hammed Shittu Ă“Ă˜ Ă–Ă™ĂœĂ“Ă˜ The Christian Association of Nigeria (CAN), Kwara State chapter, yesterday expressed displeasure over the attack on their members and members of the Fathul- Quarreb Muslim society at their various worship points at Taiwo area, Ilorin on the eve of the new year.  Meanwhile, the state police command said it has arrested 32 suspected irate youths who were allegedly involved in the attack.

Although the atate Governor, Alhaji Abdulfatah Ahmed, has condemned the act, he has also vowed to ensure continued peace and harmony in the state while the Speaker of the state House of assembly, Mr. Ahmad Ali, called for investigation in order to fish out the perpetrators.

In a statement signed by CAN Chairman in Ilorin, Professor Timothy Opoola, he described the act of the suspected hoodlums as barbaric and uncalled for.

The body strongly appealed to the Kwara State governor to quickly intervene and forestall future attack on its members.

Speaking with journalists in Ilorin yesterday, the state Commissioner of Police, Mr. Lawan Ado, said the attack was not a premeditated religious attack as being speculated in some quarters. Â He said the command received a distress call at about

1a.m. on the new year day to the effect that hoodlums, armed with dangerous weapons were harassing and intimidating people and commercial motorcycle riders along Ibrahim Taiwo Isale area of the Ilorin metropolis. “This group of unruly youth were said to be throwing fireworks, including knock out bangers of different indiscriminately into premises of both the Catholic and Methodist churches and the United Secondary School, where members of the Quareeb Muslim Group and Christian worshippers were having their crossover programmes, causing a stampede in the premises of the school. “This commotion gave the hoodlums an opportunity to gain entrance into the church premises, snatching handsets of some of the worshippers, damaged five vehicles belonging to worshippers and three persons sustained varying degrees of injury. “On the strength of the report, police men drafted to the scene promptly brought the situation under control while 10 suspects were initially arrested, the injured victims were rushed to the hospital where they were treated�, he said.

He added that the suspects would be charged to court as soon as investigation was completed.

Ndoma-Egba Matriarch Dies at 91 The death of Mrs. Adeline Ndoma-Egba (nee Wilson) from Cross River State has been announced.

Sources said she died in the morning of December 30, 2017 at the age of 91.

The widow of  Justice Emmanuel Takon Ndoma-Egba, passed away 10 days to her 92nd birthday, said Professor Rowland Ndoma-Egba. “She was a most remarkable lady with an infinite capacity for love, service and sacrifice,� the family said.

Born on January 8, 1926 to James and Elvira Wilson in St Catherine’s, Jamaica, in the West Indes, the deceased called ‘Angel’ by the family, worked at the University of Nigeria Teaching Hospital, former General Hospital, Enugu and Park Lane Hospital, Enugu, as the first Theatre matron. At the outbreak of the Nigerian Civil War, she was Matron at

the Queen Elizabeth Hospital, Umuahia.

The late Adeline NdomaEgba  also worked with the international Red Cross at the Awomama Reference Hospital, Awomama, Imo State. After the civil war, she was the matron at the General Hospital Ogoja and Matron at the Holy Family Joint Hospital, Ikom, from where she retired in 1985 into a quiet life of service to the family, community and humanity.

She was an elder at the Presbyterian Church of Nigeria.

Ndoma-Egba

he visited the airport for the inspection.

According to him, “the funds are needed to correct the challenges hindering the completion and full take-off of the terminal. Some efforts have already been put in motion to tackle the challenge as the ministry has made proposal to the federal government on how to source for the money.�

Speaking further, he noted that the project was initially billed to be inaugurated in December 2017 stressing that,

“we have earlier on said that we will be able to finish this project by December 2017 but unfortunately, we are in January 2018 and the project has not been delivered and it is the first tour that we are undergoing as a ministry at the first day of work to find out from the contractors the state of things and what could be the hindrance and to find out why the project was not delivered and also to see the state of work.

He hinted that the quality of work was acceptable but

“the pace is unacceptable.

The project should have been delivered earlier than now and the contractor is just repeating what he said earlier on and some of the challenges he has been facing regarding some components of work and some additional problems. We need to ensure that this terminal can be use for the purpose for which it is intended. “Unfortunately, some of the hindrances are very complex and some of them will delay this job and some of them are

from the foundation and these are the problems that we found.

Classical examples, not only here in Abuja, the four other airports. “But here in Abuja, we have the problem of linking the new terminal and the old terminal.

The blocking of the control tower, the control tower cannot see the other side of the airport and it’s an issue and also, we have the fire service blocking access to the terminal building making it very difficult for the aircraft to maneuver and utilise the apron.�

BRIEFING THE MEDIA

L-R: Senior Pastor, KICC, Pastor Mathew Ashimolowo; National Superintendent, Pastor Femi Faseru; and Pastor, KICC, Idimu Parish, Pastor Tomi Vincent, at a press conference of the Mathew and Yemisi Ashimolowo Annual Widows Empowerment coming on Saturday at Ode-Omu, Osun State, in Lagos....yesterday

PRESIDENCY, STAKEHOLDERS CONSTITUTE C’TTEE TO AVERT FUTURE FUEL CRISIS in neighbouring countries of Ghana, Niger and Benin Republic, oil is sold at $1, an equivalent of N360, pointing out that the development might have resulted in diversion of petrol to Nigeria to such countries with the aim of maximising profit.

Abiodun said it was impossible for oil marketers to import fuel and sustain the sale of the pump price of petrol at the rate of N145 per litre. “A lot of issues were raised and a committee was constituted that will meet tomorrow under the chairmanship of the minister of petroleum to further go into the nitty gritty and to ensure that these problems do not reoccur again. “From our point of view as marketers, we made our submission known to government and we emphasised the fact that this was not a marketer-related problem. There was no hoarding on the part of any marketer. Marketers are your brothers, they are Nigerian citizens, they are businessmen, no marketer makes money from hoarding petroleum products, our business is to take petrol and sell. “We explained that the problem that you saw is not

willful on the part of anyone either NNPC or marketers.

The situation from our point of view is that from January to December, the price of crude remained relatively stable following the hurricane Katrina. “In the month of September - October, crude prices went up and marketers lost the ability to import and sell at N145 per liter. Since the price of crude is directly proportional to refined product, we could not import petrol and sell at N145 any more. And this business is a partnership between marketers and NNPC. Marketers bring in a certain volume and NNPC also brings in a certain volume. “In the past, marketers brought in about 60 per cent while NNPC brought about 35 to 40 per cent. But by the month of October, marketers completely stopped importing because there is no more subsidy.

So, we can’t sell for profit. So, we have to stop importing. So, the burden of importing 100 per cent now fell on NNPC. “So you can imagine a situation where NNPC was importing in part and marketers were importing in part and then suddenly, NNPC begins to import 100 per cent coupled

with the fact that in the months we call the ember months, from October to December, the consumption of petrol is highest in the country. “So, you now have what we call a double warning. NNPC is suddenly finding importing what they probably didn’t expect in terms of volume and the fact that Nigerians themselves are consuming more volume than they will normally consume in earlier months coupled with the fact that the countries that are surrounding us as a nation are all selling fuel at more than $1 per liter. $1 today is about N360.

If you go to Cotonou, Ghana, Niger. So, it is not unlikely that some of our petrol is finding itself across the border to these countries. “All these are issues we believe amounted to what we saw in December but thankfully NNPC rose to the occasion. They stepped up import, stepped up supplies. That situation has since normalised. “Today’s meeting is to ensure that this does not happen again and this we are going to continue tomorrow in the committee that was set up under the chairmanship of the minister of state for petroleum

to ensure that we find a long lasting and enduring solutions to this problem so that Nigerians will not have to go through this harrowing situation again,�

Abiodun stated.

In his submission, IPMAN National President, Elder Chinedu Okonkwo, said they were very happy with the output of the meeting, disclosing that with the level of deliberation in the meeting yesterday, Nigerians could be assured that matters of fuel scarcity in the country have finally come to an end. “We are glad with the promise of the Chief of Staff at the meeting. With what we have heard today from the meeting, Nigerians should go home and be glad because the issue of constants fuel supply have been resolved. “The issue apparently, by tomorrow will be resolved as a committee will be set up to ensure that the major marketers, the independent marketers and all those that are supposed to be bringing in the products will contribute. This will solve this problem once and for all.

They have also assured that the refineries are coming on stream with installed capacity. This is cheery news,� he said.

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

5 T H A F R I C A N N AT I O N S C H A M P I O N S H I P

Our Target in Morocco is the Trophy, Says Ezenwa Salisu lists Rabiu Ali, Okpotu, 21 others for the tournament Duro Ikhazuagbe Captain of the Home-based Eagles, Ikechukwu Ezenwa, has promised that the team is heading to the 5th African Nations Championship (CHAN) starting in Morocco on January 13 to win the trophy.

Nigeria’s best performance in CHAN so far is the bronze won at the 2014 edition in South Africa.

But Ezenwa who stood between the sticks when the senior national team qualified Nigeria for the 2018 World Cup is looking forward to consolidating by leading the home-based players to lift the CHAN title in Morocco when the final is played on February 4.

“The most important thing for us (Eagles) right now is to go to Morocco and do the nation proud by winning the trophy,” stressed the former FC Ifeanyiubah safe hands to NFF website yesterday.

He insisted that the team’s preparation for the 2018 CHAN has been very good.

“We have had very good preparation so far and the unity in the team is awesome and with that, I am confident of a better outing than the last time in Rwanda.”

Part of the team’s preparation included participation in the WAFU Cup of Nations tournament which took place in Cape Coast, Ghana in September 2017 (where the team finished as runners-up); participation in the Nigeria Professional Football League Super Six Tournament in Kano in December 2017 (which it won) and a series of friendly matches during the last phase of camping in the Federal Capital Territory, Abuja.

Asked about the team’s chances in Group C with opponents such as Rwanda, Libya and Equatorial Guinea to contend with, Ezenwa insisted Eagles are going to take every game is it comes.

“First of all, we are going to take each game as it comes; Rwanda, Libya and Equatorial Guinea are very good sides when it comes to the CHAN tournament. Look at the last edition, Rwanda were very tough and they performed better than us.

“The Libyans are former champions so they are no newcomers to the competition and for Equatorial Guinea, they will be coming with the bunch of players that played the World Cup qualifiers for them, so to be honest, it’s going to be a very tough group for us but we are up to the task,” the Home-based Eagles supremo assured Nigerian fans.

Ezenwa sees the CHAN in Morocco as opportunity for any of the home-based players to prove their worth as Super Eagles Franco-German coach, Gernot Rohr may extend call up to anyone who distinguishes himself in the competition.

“I think any player that does very well will have an opportunity (to go to Russia) because the Technical Adviser, Mr. Gernot Rohr will be in Morocco with us just like he was with us

in Ghana where some players who did well were invited for the FIFA World Cup qualifier against Zambia,” reasoned the team captain.

Meanwhile, Head Coach of the team, Salisu Yusuf, yesterday released his final squad for the CHAN in Morocco starting next week, with Ezenwa, midfield Trojan Rabiu Ali and marksman Anthony Okpotu listed.

Ezenwa is joined for the goalkeeping duties by Oladele Ajiboye and Theophilus Afelokhai, and defensive stalwarts Osas Okoro, Stephen Eze and Kalu Orji Okogbue also made the list, as midfielders Ifeanyi Ifeanyi and Ekundayo Ojo and forwards Sunday Faleye and Emeka Atuloma.

The team of 23 players and their officials are expected to fly out of the country in a few days, to continue preparations in Morocco ahead of Nigeria’s first match of the campaign against Rwanda in Tangier onMonday, January 15.

The 2014 bronze medallists will also play 2014 champions Libya at the same Ibn Batouta Stadium in Tangier on Friday, January 19, before travelling to Agadir to tackle Equatorial Guinea on Tuesday, January 23.

FULL LIST Goalkeepers: Ikechukwu Ezenwa (Enyimba FC); Oladele Ajiboye (Plateau United); Theophilus Afelokhai (Enyimba FC) Defenders: Osas Okoro (Rangers International); Daniel James (Plateau United); Kalu Orji Okogbue (Rangers International); Ikouwem Utin (Enyimba FC); Abdullahi Musa (Wikki Tourists); Timothy Danladi (Katsina United); Ifeanyi Nweke (Kano Pillars); Stephen Eze (Kano Pillars) Midfielders: Ifeanyi Ifeanyi (Akwa United); Rabiu Ali (Kano Pillars); Augustine Oladapo (Enyimba FC); Ekundayo Ojo (Sunshine Stars) Forwards: Emeka Atuloma (Rivers United); Anthony Okpotu (Lobi Stars); Eneji Moses (Plateau United); Ibrahim Mustapha (Enyimba FC); Emeka Ogbuh (Rivers United); Sunday Faleye (Akwa United); Nura Muhammed (ElKanemi Warriors); Okechukwu Gabriel (Akwa United)

L-R: Rabiu Ali, Osas Okoro and Anthony Okpotu are all listed in Coach Salisu Yusuf’s Morocco bound Home-based Eagles for the 2018 African Nations Championship

Nigeria’s Female Team Misses Out of 2018 ITTF World Team Championships The implication of Nigeria female table tennis players missing the 2016 ITTF Africa Championship which held in Morocco has emerged as the team has been ruled out of the 2018 World Team Championships by the International Table Tennis Federation (ITTF).

It was the inability of Nigeria to compete in the team event that has denied the country from making the cut as it was only Olufunke Oshonaike that was able to sponsor herself to the tournament. She claimed the

women single’s title at the expense of Egypt’s Dina Meshref.

With this development, Egypt will be leading five other African teams to the tournament holding between April 29 to May 6 in Halmstad, Sweden.

However, the world table tennis ruling body has confirmed the men’s teams of Nigeria and Egypt as well as five other African countries for the 2018 World Team Championships.

Nigeria and Egypt qualified automatically for the tournament based on their world rating and

performance at the 2016 edition in Malaysia but they are expected to campaign in the second division after both teams failed to make it to the Championship division.

Unlike Nigeria, Egypt and Togo who qualified based on the outing in 2016, the likes of Algeria, Congo Brazzaville, Senegal, South Africa, and Tunisia made the cut following their performances at the 2016 African Championship in Morocco.

Egypt is the only female team that made the automatic cut for the championship while the likes

of Algeria, Congo Brazzaville, South Africa, Morocco and Tunisia picked their slots in Sweden following their performance and presence at the 2016 African Championship in Morocco.

China tops the list of teams expected in Sweden as they are the defending champions of the men and women categories but all eyes will be on Germany this year following the displacing of China’s Ma Long as world number one by Germany’s Dimitrij Ovtcharov in the January 2018 ranking expected to be released this week.

Ecobank Pledges Support as IAAF Confirms May 12 for 6th Okpekpe Road Race The Managing Director of Ecobank Nigeria Limited, Charles Kie, has pledged his company’s continued support for the Okpekpe International 10km Road Race.

Kie made this pledge while commending Pamodzi Sports Marketing Company, organisers of the trail-blazing road race in Nigeria on the recent upgrade of the event to a Silver Label status by the International Association

of Athletics Federations (IAAF).

“We are delighted to be a strong part of the success story of the Okpekpe Road Race, especially on this latest elevation to the Silver Label Race which is the first to be so recognised in West Africa and the second ever silver label road race in the entire African continent after the Sanlam Cape Town Marathon in South Africa which was upgraded to a Gold Label race last year,’’ said Kie. The Ecobank chief further

stressed that the elevation does not only lend credence to the standard and popularity of the race, but also represents a milestone in the development of sports in Nigeria.

He added that the upgrade further justifies Ecobank’s consistent support to the annual event and reiterated that the Okpekpe’s vision of a top quality competition that affords top athletes from across Africa the opportunity to compete

and socialise ties with the bank’s pan-African posture.

Kie maintained that the bank supports and encourages creativity and excellence among Africans, especially the young people, who are the future of the continent.

Meanwhile, the IAAF has confirmed the May 12, 2018 date set by the organisers of the Okpekpe International 10km Road Race for the sixth edition of the event in Okpekpe near Auchi in Edo State.

Zenith/Delta Principal’s Cup Organisers Pick March 3 for Final The final of the Zenith Banksponsored Principal’s Cup Football Competition for all Secondary Schools in Delta State has been scheduled for March 3. This is the Season 2 of the tournament.

Final venue is the Ultra-modern Stadium at the Delta State Polytechnic in Ozoro, Delta State.

Delta State Governor, Ifeanyi Okowa, and the Group Managing Director of Zenith Bank, Peter Amangbo, are expected to lead other top dignitaries to the event.

Organisers of the event revealed the final date at the weekend after rolling out the fixtures for the zonal

stage, quarterfinal, semis and the final.

Head of the organising team, Tony Pemu, told journalists that the fixtures were released that way to exhibit transparency.

Pemu said: “We preach fairness to the participating teams and we should be transparent in the discharge of our responsibilities. All the teams from this stage know their potential opponents as they progress and so there is no issue of favouritism at all.

“There is still a long way to go but we are intensifying efforts on our operations because this is the last stretch to the final match.”

R-L: Former Super Eagles Captain, Austin Jay Jay Okocha, catching fun with Managing Director, Seven-Up Bottling Company Plc.,(SBC), Ziad Maalouf and his wife and Head of Marketing, SBC, Norden Thurston, at Wizkid The Concert in Lagos… recently

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Why Africa’s Young People Are the Real Winners at the CAF Awards Benedict Peters Almost nowhere on earth is football followed as passionately as in Africa. It is loved by Africans from all walks of life and from all across the continent. This week, I am giving the opening address at the Confederation of African Football (CAF) Awards in Accra, Ghana. This has afforded me a good opportunity to reflect on Africa’s relationship with football and how it can help deliver a brighter future for our young people.

I believe we need only look to the Liberian presidential election for a fine example of the transformative power of football. Against the odds, and in the mighty wake of Ellen Johnson-Sirleaf, the newcomer candidate, George Weah snatched victory and today, is President-elect of one of Africa’s most rapidly developing countries. Before he was a Presidential candidate, of course, Mr. Weah was an outstanding footballer whose career spanned great clubs like Paris Saint Germain, Marseille, Monaco and even English Premiership giants like Sadio Mane, Pierre-Emerick Aubameyang and Mohamed Salah are the ďŹ nal three nominees for the Aiteo/CAF Player of the Year Chelsea and Manchester City. A Africa’s young are global currency, a language Wayne’, so children must also agreement with the Nigerian striker of fearsome reputation, Weah has been described as the already shaping today and spoken in the United Kingdom work hard in school. The same Football Federation (NFF) to greatest footballer to emerge redefining tomorrow with as much as in Brazil, China can be said of football: not all provide financial Support to from Africa, confirmed in their creativity, passion and and Nigeria. And in football of our children will grow up the technical team of Nigeria’s 1995 when he won both FIFA innovation. I believe that the we see, most tangibly, the to be the next George Weah, national team for the next five Footballer of the Year and the greatest gift that our generation bold young role models and Abedi Pele, Dider Drogba years. In the months since, highly valued Ballon D’or. Over can give them is to continue to ambassadors of Africa who or Jay Jay Okocha, but these Nigeria has won more games a three year period, in 1989, provide platforms for aspiration, are inspiring others and have role models still offer young than they have lost and has 1995 and 1996, he claimed the recognition and inspiration. But set the pace in their pursuit people a concrete example of qualified for the 2018 FIFA top prize of African Footballer the idea of ‘opportunity’ or of of excellence. the hard work that goes into World Cup. Aiteo has also made significant contributions of the year, crowning that in ‘potential’ can be an abstract Of course, we must be careful the pursuit of excellence.

1996 with the African Footballer enough concept to adults never not to set false expectations.

The example of football towards developing the local mind the younger generation, Football is affected by the goes far beyond the 22 men football by underwriting of the Century award.

The power of a footballer many of whom have been same attrition rate that applies or women who stand on the the costs associated with entering frontline politics cannot overlooked by the decisions of to other sports in that very pitch for 90 minutes each organising the Federation be overstated, for two reasons. governments not to allow funds many are called but few week. I know this because Cup, Nigeria’s equivalent of First, it shows that politics is raised from investment to trickle ultimately make the dizzy I have seen the extraordinary the English FA Cup, helping accessible to all, to the ambitious down into stronger education heights that many dream depth of support services that smaller teams grow and individual who dares envisage systems, apprenticeships and of former President Barack go into creating the finished improve on the national stage.

With coaching roles, training a way he or she can contribute advancement.

Obama pointed out that product of a football match, In football, the notion young in the United States and the transformative role roles, marketing, advertising, to their country’s future. Second, it makes politics interesting and of opportunity is far from may have good role models they play when properly commercial partnerships and merchandising roles all part of relevant to young people. If abstract. Football has always for economic empowerment looked after. our continent is ever to reach been a unifying factor and and entrepreneurship in the Over the last year, Aiteo the infrastructure of a newlyits full potential, then it is our a great tool for promoting music industry, but that it was has been supporting sports global Nigerian football team, young people who are going integration and development. unlikely that each child would development in Nigeria, no child need only grow up But more than that, it is a grow up ‘to be the next Lil leading to deliver it. a partnership to be the next Alex Iwobi if

WINTER TRANSFER‌

Real Madrid Drops De Gea Interest David De Gea is reportedly no longer a transfer target for Real Madrid, who will turn their attentions to other targets with the Spain number one apparently feeling settled and valued in Manchester.

The goalkeeper is arguably the best in the world right now, and has been at the top of his game for the past few seasons.

Since Sir Alex Ferguson retired in 2013, De Gea has been United’s stand out peformer - a pillar of consistent throughout a turbulent period.

He is utterly idolised by adoring Red Devils supporters, and that is part of the reason he wants to star at the club as reported by El Confidential.

The former Atletico Madrid

stopper is happy at the club because of how much is he valued, and how popular he is in the eyes of everybody at the club.

There always appears to be worry surrounding De Gea that, with the team underperforming, he will eventually grow tired and leave for a side who can genuinely challenge for all major trophies.

He came within a whisker of signing for Madrid back in 2015, but stayed put thanks to problems with the fax machine processing the paperwork.

De Gea has continued to be linked to the Spanish heavyweights ever since, but it appears now that they will have to look elsewhere.

WINTER TRANSFER‌

they are to benefit from the transformative power of football. If a footballer can become the head of a nation, then why not a football coach, a medic or a marketing executive?

So, when I stand on the stage tomorrow to open the CAF Awards, the winners will be very clear to me before the awards have even been handed out: the true winners will be every young person who sees that event; sees that the eyes of the world are on Africa and that a future for each one of them exists in which they can go beyond their school, their hobbies, their parents, and truly embrace their potential.

Because the way we conceive the future sculpts the present. r #FOFEJDU 1FUFST JT UIF &YFDVUJWF 7JDF $IBJSNBO "JUFP (SPVQ

WINTER TRANSFER‌

Hammers’ Three Transfer HuddersďŹ eld Sign Monaco Defender on Loan Bids Rejected

Huddersfield have signed Monaco and Netherlands defender Terence Kongolo on loan for the rest of the season.

Terriers manager David Wagner was keen to bolster his defensive options this month, and Kongolo has been signed before Saturday’s FA Cup tie

at Bolton.

The 23-year-old only joined Monaco from Dutch side Feyernoord in the summer for 15m euros (ÂŁ13.38m). “Terence is a top player who we’ve followed from his time at Feyenoord,â€? said Wagner. “His big summer move to Monaco put him out of our reach at the time, but we’re delighted we can bring him in on loan now “He is a high-quality young centre-back and will provide us with a great option for the rest of the Premier League season. With Michael Hefele and Jon Gorenc Stankovic returning from long-term injuries, it was important to have this.â€?

West Ham have already had three bids turned down as they attempt to bolster manager David Moyes’ squad during the January transfer window.

The Hammers have had mixed results since Moyes replaced Slaven Bilic on 7 November.

They beat Chelsea and drew with Arsenal, but have lost four times, including at home to fellow strugglers Newcastle.

One player set to leave this month is striker Diafra Sakho.

The 28-year-old was close to joining French club Rennes in the summer and, while he is still highly regarded by some at West Ham, it has been decided he will be allowed to leave if

the club receive an acceptable offer.

The Hammers have dropped into the Premier League relegation zone before Tuesday’s game against second-bottom West Brom at the London Stadium.

Moyes has identified the areas he wishes to strengthen but, as yet, the club have been unable to do deals in what has been described as a “difficult market�.

Swansea defender Alfie Mawson, Newcastle midfielder Jonjo Shelvey and Bournemouth midfielder Harry Arter are the latest players to be linked, with Moyes known to be keen to bring in more players with Premier League experience.

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Price: N250

MISSILE Dasuki’s Family to FG Today is two years since the former National Security Adviser (NSA), Sambo Dasuki, was arrested and re-arrested in December 2015 after securing his bail condition but ignored by the federal government. –The late Sultan Ibrahim Dasuki family urging President Muhammadu Buhari to order the release of former National Security Adviser, Col. Sambo Dasuki (rtd).

ISSAAREMU George Weah: Beyond Soccer GUEST COLUMNIST

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iberia has recorded another first; the first nation to produce a footballer-President, George Weah, just as the first to produce first democratically elected two-term successful female President in Africa, the outgoing President Ellen Johnson Sirleaf.

I should add, Liberia is also the oldest Republic in Africa with less than five million people, a quarter of Lagos state! Lest we also forget, President Olusegun Obasanjo in 2003 was the first President to disclose that Nigeria spent whooping $12billion to liberate Liberia from its senseless civil war of attrition in which Nigeria lost one thousand troops and countless thousands of civilians.

A visitor from the outer-space reading and watching the global (mainstream and social media) coverage of the announcement of new Liberian President elect, George Weah would have been misled to assume that the great footballer “dribbled� his political opponents to the Executive Mansion in Monrovia. Watching the NTA Sport parliament edition of Monday, 28th of December, I saw ace-anchor, our own “Mathematical� Segun Odegbami in lamentation recalling his bold intention to contest for FIFA presidency and the typical Nigerian cynicism which trailed his legitimate ambition. Reflecting on Weah’s ascendancy for me raises same nostalgia of the hysteria on the trail of the ascendancy of the out- going Liberian President, Ellen-Johnson Sirleaf. I can vividly recall the somewhat patronising headlines: “First female President in Africa�!, “The Iron-Lady takes charge in Liberia�!! “Age of Women�!, “Women are coming�,!! ad infinitum. Of course Mrs. Ellen Johnson is certainly a woman and a proud mother of four and grandchildren too. It was saying the obvious that Ellen Johnson is truly the first female democratically elected President in Africa. But the obsession with gender dimension of Johnson’s Presidency exposed our readiness to undervalue the participation of women in governance and belittle their achievements made in spite their gender.

This is understandable. This is Africa, a continent in which it is easier to transfer power and wealth to male child (witness Togo and Democratic Republic of Congo!) than to a wife (Mugabe miserably and happily failed!) and female child. A female presidency understandably captured our imagination, and I dare say, has a rather sexy appeal. But even at that narrow perspective, the point cannot be overemphasised; Ellen Sirleaf’s democratic victory and two term successful tenures was a product of her direct political engagement of trial and error spanning decades, political contestation and

Liberia President-elect, George Weah cooperation, imprisonment and exile, national commitment and international exposure rather than her gender credentials. Hers is fallout of earned and deserved victory than an ascribed gender. Thus other women and indeed men who are eager to follow her footsteps must realize that there is a long walk to political victory. The point being made here is that we must assess George Weah’s emergence as a president beyond a man running around leather ball to include a critical assessment of a citizen who has decidedly opted for political activism and engagement in almost three decades. I agree with Odegbami that George Weah “was a footballer and a successful one at that�. But it is remarkable that he also observed further that “it was his concern about the plight of his poor compatriots and his audacity to lead which “accorded him that recognition by giving him their mandate�.

His profile is as instructive as it is inspiring for African youths. George Oppong Weah was born October 1, 1966, Monrovia, Liberia. His soccer imprints are indelible; named African, European, and World Player of the Year in 1995—“an unprecedented achievement�. He shared a lot in common with the legendary Pele ( Edson Arnates Do Nascimento) who started playing with borrowed “bunch of socks tied together�

Liberia Out-going President Ellen Johnson-Sirleaf in the poorest neighbourhood. “Too poor to afford anything� including a ball, but he transfigured into a football legend of all times.

Like Pele, Weah also learned football “on the dusty streets of Monrovia�. Later in life there has been enough Godliness in the details of his remarkable successes.

He led Young Survivors, a team without a coach, into the first division, signed a three-year semiprofessional contract with top Cameroonian club Tonnerre of YaoundĂŠ, which won its league in his first season (1987) with the team. “In his five seasons with Monaco (1987–92), he scored 57 goals, and the team won the French Cup in 1991.

Subsequently he transferred to AC Milan (1995–2000) in Italy’s Serie A, helping the club win the 1996 and 1999 league titles.

In January 2000 AC Milan loaned him to Chelsea of London, where he made an important contribution to that team’s Football Association Cup triumph. At the end of his career, Weah scored more goals and played in more matches than any other African professional in Europe.�

But Weah’s match to presidential victory can hardly be televised as its soccer goals were beamed live. It takes more than “exceptional dribbling and shooting skills� to be a President of Africa’s oldest Republic! It takes a great of equipment

The point being made here is that we must assess George Weah’s emergence as a president beyond a man running around leather ball to include a critical assessment of a citizen who has decidedly opted for political activism and engagement in almost three decades

of political personality to lead a nation.

First it’s about values that endeared him to his compatriots. He also works hard work and has tremendous compassion for the nation and the poor. He is one of the few Western African patriots still standing.

Weah’s longstanding commitment to humanitarian activities, especially in Africa, earned him the admiration of all. Nelson Mandela called him the ‘African Pride’. “In June 1997 while in Liberia to coach the national team, he promoted vocational training schools where former child soldiers and other war-affected youth could learn new skills. He played in a football match between teams of former child soldiers.

He also visited a health clinic, one of more than 50 primary healthcare facilities that have been revitalized by UNICEF�. Weah was once a goodwill ambassador for the United Nations. Indeed there were scores of political reversals and failures for him more fatal than loosing a football match but he never gave up. President Charles Taylor was out of power by 2003. And in 2005 Weah ran for president of the country as a member of the Congress for Democratic Change (CDC) party. After winning the first round of voting, he was defeated by Jonson-Sirleaf of the Unity Party (UP) in the runoff election in November 2005. Weah initially challenged the election results in court, but he later dropped the matter .

He also faced Johnson Sirleaf again in the October 2011 presidential election, but this time he ran on the ticket of the CDC as a vice presidential candidate; the presidential candidate of the CDC was Mr. Winston Tubman. But he also lost to Johnson Sirleaf. Johnson Sirleaf again defeated him, who got re-elected by a wide margin. In December 2014 Weah ran for the position of senator of Montserrado county under the banner of the CDC paradoxically defeating his nearest opponent, Robert Sirleaf, a son of the incumbent president. Weah is riding to power on the crest of alliance of political forces waving a flag of national unity. Weah’s election is an outcome of complex coalition with political support from the outgoing President Ellen Johnson.

In sum, beyond romanticising soccer, the emergence of George Weah is a victory for democratic process in West Africa in general and Liberia in particular .

And many thanks to the Liberian electorate for keeping faith with democracy which has made a footballer from a humble background to become the 25th president of Liberia. r $PNSBEF "SFNV JT B NFNCFS PG UIF /BUJPOBM *OTUJUVUF ,VSV +PT

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