Wednesday 10th January 2018

Senate Tackles Malami over Maina, Asks Him What He Has to Hide Directs committee to expedite probe Tobi Soniyi in Lagos and Damilola Oyedele in Abuja The Senate has asked the Attorney General of the Federation (AGF) and Minister

of Justice, Mr. Abubakar Malami (SAN) to explain to Nigerians why he has been running around the courts seeking to stop the probe by the two chambers of the

National Assembly into how Mr. Abdulrashid Maina, an Assistant Director in the Ministry of Interior, was surreptitiously reinstated into the civil service after being

dismissed. In a statement by Senator Aliyu Sabi Abdullahi, Chairman of the Senate Committee, Media and Public Affairs, the Senate wondered

why the AGF rushed to court if he did not have a “skeleton in his cupboard” with regards to the reinstatement of Maina into the Federal Civil Service. Abdullahi said the

lawmakers were surprised that the AGF, who had utilised the ample opportunity given to him by both chambers of the Continued on page 10

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Presidency Absolves Buhari of Herdsmen Killings, Blames Crisis on Demographic Changes FG plans stakeholder confab as Ortom rejects cattle colonies Two policemen killed in Benue ambush, IG relocates to Makurdi Military arrests ‘state-sponsored’ armed gang, Benue denies sponsoring militia Omololu Ogunmade in Abuja and George Okoh in Makurdi with agency report The presidency yesterday absolved President Muhammadu Buhari of the killings allegedly committed by armed herdsmen in several states of the federation, particularly in Benue State

and neighbouring states, saying that the president was concerned about the persistent herdsmen and farmers’ clashes, especially when he sees gruesome pictures of those that have been slaughtered. This is just as the federal government has also proposed a conference of stakeholders on infrastructure and agricultural

development as a platform for immediate and long-term solutions to the frequent conflicts between farmers and herdsmen. Despite the proposal to hold the conference, the embattled governor of Benue State, Samuel Ortom, whose people have borne the brunt of the conflicts

with herdsmen, yesterday met with the president in the State House, Abuja, but expressed indifference towards another proposal by the federal government to create cattle colonies in the country to control open grazing by cattle rearers. The proposed conference, according to a statement by

the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, was conceived to help in finding short and long-term measures for the expansion of agriculture in the country. The statement said the conference would tap into experiences and best practices to draw up a development

plan of 20-30 years on the basis of population and development projections, which it said would take into consideration environmental impacts. According to the statement, Buhari was concerned about the persistent herdsmen and farmers’ clashes, especially Continued on page 10

… Says It’s Working to Resolve Impasse with Senate over Confirmation of MPC Members Damilola Oyedele in Abuja As concerns mount over the inability of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to hold its next meeting slated for the fourth week of this month, the presidency yesterday said that it was working to resolve the matter with the Senate. THISDAY had exclusively reported last November that eight positions on the 12-member committee were vacant, making it impossible for the committee to form a quorum. This had heightened fears over the Senate’s refusal to consider President Muhammadu Buhari’s nominees for the vacant positions on the MPC arising from the impasse with the presidency regarding

the nomination and nonconfirmation of the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu. A senator who spoke to THISDAY at the weekend also said the Senate had resolved to seek legal interpretation of a comment made by Vice-President Yemi Osinbajo that the position of the EFCC chairman does not require the confirmation of the Senate, as it was not specified in the constitution. As a result of Osinbajo’s remark, the Senate had resolved to suspend confirmation processes for all nominations not specifically mentioned in the 1999 Constitution but provided for in the establishment Acts of several agencies of the federal Continued on page 11

2019: Northern PDP Leaders Begin Search for Presidential Candidate... Page 13

GROOMING TOMORROW’S LEADERS... Chairman, Africa Initiative for Governance (AIG), Mr. Aigboje Aig-Imoukhuede, flanked by AIG Scholars Class of 2017 – L–R: Emokiniovo Akpughe, Emmanuel Taiwo, Oluwapelumi Simpson, Abdul-Fatawu Z. Hakeem, Chukwunonso Iheoma and Efosa Trevor Edobor, after the public lecture delivered by former President Olusegun Obasanjo, at the Blavatnik School of Government, University of Oxford, United Kingdom, on Monday

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InterContinental Group Threatens to Pull out of Nigeria Hundreds of workers may lose their jobs Receiver Manager: Hotel group is being unreasonable, matter will be resolved Davidson Iriekpen The InterContinental Hotels Group (IHG), the multinational hotels company headquartered in the United Kingdom, has threatened to pull out of Nigeria by January 18 over a breach of contract and huge debt owed it by the receiver/manager appointed by Skye Bank Plc. The IHG, which entered into a international management agreement with Milan Industries Limited, owners of InterContinental Hotel Lagos, in January 2012, had in a notice of termination of the agreement dated January 3, 2018, expressed its displeasure with Messrs Kunle Ogunba who was appointed the receiver/manager by Skye Bank following an interim court order.

Should the British hotels group make good its promise hundreds of Nigerians working for the Lagos hotel may find themselves without jobs. According to the IHG, “We had, on various occasions, engaged the receiver/ manager to ensure the proper management and operation of the hotel as part of IHG’s global hotel network. “Despite multiple letters issued to the receiver/manager and Milan dated May 18, 2017, June 1, 2017, June 14, 2017, July 18, 2017, October 31, 2017, November 12, 2017, December 15, 2017, requesting the cooperation of the receiver/ manager with IHG in order to ensure that the hotel maintains its operating licence and to avoid a material breach of the agreement, a significant amount

of fees outstanding in the sum of $3,142,324/NGN995,223,818 owed to IHG remains unpaid and continues to accrue on a daily basis. “Furthermore, Clause 16.1 empowers IHG to terminate immediately the agreement upon the appointment of an administrator or receiver over the assets of Milan, whereupon the marks, licence and software licence granted for the use of Milan by IHG shall cease; access of the hotel to IHG’s reservations system will be suspended and the management and operation of the hotel by IHG shall terminate. “Take note that this letter formally serves as notice of termination of the agreement with effect from January 18, 2018.�

The Milan Group, an Indian family-owned conglomerate with over 40 years of trading in Nigeria, had taken a facility from Skye Bank to part finance the five star hotel located in Victoria Island, Lagos, and managed by IHG. The Milan Group, it was gathered, had up till 2021 to pay back the facility but in a curious move, the bank obtained an interim order to takeover the management of the hotel. The takeover did not go down well with IHG, which has severally complained about the manner the receiver/manager has been going about the assignment, culminating amongst other issues: “Failure to pay in full and on time all amounts due to IHG,� developments the

British hotel group considers a fundamental breach of the existing agreement. The IHG also complained in an earlier letter dated December 26, 2017 that it was “highly concerned that the hotel’s payroll has been suspended until after the Christmas holidays�. “This is a further breach of the agreement, and we insist that all relevant payments are made to hotel employees immediately,� the hotel group said. IHG further complained that the service delivery level was being impaired by the omissions highlighted in its letters. Attempts to reach the receiver manager, Ogunba, proved abortive, but a source close to his law firm informed THISDAY that IHG was trying

to blackmail both the bank and the receiver manager. The source said the group had become a leach to the hotel, adding that since the law firm took over the hotel as receiver manager, it had paid the group N173 million. He said what IHG had failed to acknowledge is that the resources from the hotel can no longer sustain its operations, wondering why the group was always demanding for the little the hotel makes. “They want to use blackmail to get an unfair advantage over the resources of the organisation and that is not fair,� the source said, adding that whatever the grievances, they would be resolved. “We are currently engaging them in order to resolve the issues,� he noted.

PRESIDENCY ABSOLVES BUHARI OF HERDSMEN KILLINGS, BLAMES CRISIS ON DEMOGRAPHIC CHANGES when he sees gruesome pictures of mayhem from several parts of the country, notably Benue and neighbouring states. The president, he said, was equally worried about some public pronouncements and finger-pointing, which in most cases were very unhelpful to the peaceful coexistence of Nigeria’s diverse peoples, adding that Buhari was conscious of his duty to Nigerians. “Not least because he is held accountable for everything that goes wrong. He deeply sympathises with the families and all the other direct and indirect victims of this violence. He is determined to bring it to a permanent end,� Shehu said. Further observing that while there are many Nigerians who see the conflict between the nomadic herdsmen and peasant farmers as an ethnic problem, others point to religious differences and agenda, he noted however that the president does not subscribe to such “simplistic reductionism�. Shehu also said Buhari held the view, as many experts also do, that these conflicts are more often than not caused by major demographic changes in Nigeria, recalling that when Nigeria attained independence, the population of the country was estimated at about 63 million. “Today, the population is estimated at close to 200 million, while the land size has not changed and will not change. Urban sprawl and development have simply reduced land area both for peasant farming and

cattle grazing. “It is therefore both unfair and unkind for anyone to keep insinuating that the president is condoning the spate of killings in Benue and other neighboring states. “President Buhari has publicly condemned the violence at every turn. He is prepared to permit every possible step that can lead to the stoppage of the killings. “It is on account of this he brushed aside an opinion that the federal government should challenge the constitutionality of the Anti-Open Grazing Act. He wanted to give a chance to the state government to succeed in stopping the senseless killings. “It will be recalled that as he did in dealing with the Boko Haram insurgency in Northeast Nigeria, which required sustained action from the government before it was finally curtailed, President Buhari gave the relevant mandates to the country’s security agencies to put a stop to the Benue killings. “The killings must stop and the security agencies have the president’s support to do this as quickly as possible. Whipping up hate may captivate the public and score political points on the social media, but it will not bring an end to the crisis. “Let every stakeholder instead sit down with the government and security forces and carry everyone along in finding an all-embracing solution,� Shehu said in the statement. He observed that as a father, retired army general and statesman, Buhari had maintained lasting relationships with many Nigerians, irrespective of their tribes or

religion. He also said that the president was appealing to Nigerians to support and co-operate with his administration’s plan to find permanent solutions to the menace and avoid aggravating or escalating tensions in all conflicts threatening the peace of the country. “It is also a known fact that the young people who trek the whole distance of thousands of kilometers tending the cattle do not own the cattle. “In fact, many of the cattle are not owned by Fulanis or Muslims. The point is that it is too simplistic to see the conflict as ethnic or religious,� he stated.

Ortom Rejects Cattle Colonies Irrespective of the position of the presidency, the governor of Benue State, Samuel Ortom, yesterday met with Buhari in the State House, Abuja, but expressed indifference towards the proposal by the federal government to create cattle colonies in the country to control open grazing by cattle rearers. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, had at the end of a meeting in Abuja of ministers and governors on the rampant killings of innocent souls in Benue and other adjoining states on Monday, said that the federal government had resolved to set up cattle colonies on 5,000 hectares of land where herdsmen can live and tender their cattle. But Ortom, in reaction to the proposal, while answering

questions from State House correspondents, said he had no knowledge of what cattle colonies entail, insisting that what obtains globally, in accordance with best practices, was ranching. Questioning why ranching which is practised worldwide could not be entrenched in Nigeria, Ortom said incentives such as land in his state were available for herdsmen who want to ranch their cattle. He insisted on the enforcement of the Anti-open Grazing Law in his state, noting that until the January 1 mayhem in Benue, relative peace had largely been achieved in the state since the law took effect. “For the colony thing, I don’t know what colony is. I’m waiting to be briefed about what colonies mean. I don’t understand it‌ but like I keep saying, for us, the way forward is ranching. “The way forward is ranching because it is a global best practice. And it is not just practiced in other parts of the world, on African soil in Swaziland, South Africa, Kenya, Tanzania, Mozambique, almost all African countries that rear cattle, they ranch, so why can’t we do the same thing here? “It is not for me to create ranches. I know that as a farmer, I have one in my farm and there are several other people who are free to do so. The permits are available for people who want to ranch their cattle to access land and begin to ranch. “So, it is free for everybody and that is the right way to go. And since we started the implementation, there has been

relative peace amongst farmers and herdsmen. “They were doing well until this militia coming from this Miyetti Allah Kautal Hore came and attacked us. And they are known. We know where they are. As I talk to you, they are in Tonga in Awe Local Government, Nasarawa State,� he said. Ortom, who disclosed that despite the outcry against the January 1 massacre the herdsmen were still on the rampage in Benue State, added that they even had the guts to kill policemen deployed in the state to bring the crisis under control on Monday. According to him, if such militant herdsmen were daring enough to kill security agents, the development only showed that the matter had assumed a new dimension, which he said implied that nobody was safe any longer. “That is where these people are camped and coming to attack people. And it is taking a different dimension. Just yesterday (Monday), in Logo Local Government, mobile policemen that were deployed in Logo in keep vigil to protect the people and the land, these militia came, exchanged fire with them, caught two of them and slaughtered them like goats, mobile policemen! “They shot another one, macheted him and left him in a pool of his own blood but luckily he did not die. We have taken him to the hospital. We are treating him. “The other one that was declared missing was found today (Tuesday). So, when it gets

SENATE TACKLES MALAMI OVER MAINA, ASKS HIM WHAT HE HAS TO HIDE National Assembly to state his case on the Maina issue, was the one who headed to court to stop the legislature’s investigation. He said the Senate would not be intimidated by the AGF’s resort to using the judiciary to stop the lawmakers from carrying out their constitutional duty. In this wise, Abdullahi said the Senate had further directed the committee investigating the Maina issue to expedite action on the issue and submit its reports on time. The Senate and Nigerians, he said, were interested in how Maina, a fugitive of the law, was

surreptitiously brought into the country and reabsorbed into the civil service, adding that they would therefore not allow those who want the case buried to prevail. The Senate commended the judiciary for upholding the sanctity of separation of powers and the right to a fair hearing when it refused to stop the Maina probe without hearing from the Senate. Abdullahi said: “We are wondering what the AGF is afraid of. When he appeared before our committee, he was well received and fairly treated. He expressed his happiness with the protection given to

him by the committee handling the Maina case. “Why then is it very important and urgent for him to stop the investigative hearing? What is the AGF trying to hide? “Let it be known that the legislature has the power of investigation on all institutions, bodies and individuals, particularly those who access funds that have been appropriated by us. “We, however, express our commendation to the judiciary for upholding the principles of separation of powers and insisting on a fair hearing. “We believe that is the reason the judge refused to grant the

prayers of the AGF yesterday (Monday) and insisted that the National Assembly should be put on notice and served all the court processes so that we could enter our own defence. “While we respect the position of the court and would respond accordingly, the Senate has further directed the committee investigating the Maina issue to expedite action and submit its report on time. “The Senate believes Nigerians are interested in knowing the how, who, why and where of what is now known as ‘Maina Gate’. We definitely will not allow those who want the facts buried to

prevail,� Abdullahi stated. After denying involvement in the scandal, Malami on Monday rushed before a Federal High Court in Abuja with an application to stop the legislature’s probe of the matter. However, the trial judge, Justice Binta Murtala Nyako, after hearing the application in chambers rejected it. She consequently ordered the AGF to put the respondents on notice to enable them to come and show cause why the application should not be granted. The court later fixed January 15 for a hearing of the motion on notice.

to the level of the militia killing security men who are armed and are trained to protect lives and property, is it now taking a dangerous dimension? Who is now safe?� he demanded to know. On his meeting with Buhari, Ortom said he had delayed his meeting with the president till yesterday because of the necessity to ensure that normalcy had been restored at home, disclosing that since the outbreak of the tragedy, the president had taken various measures to address the menace, including the relocation of the Inspector-General of Police, Ibrahim Idris, to Benue State and the deployment of troops of the Nigerian Army. He insisted on the arrest of the leadership of Miyetti Allah, pointing out that their threat of mayhem over the implementation of Anti-open Grazing Law, without attendant the penalties, was the underlying factor behind the recent killings. While dismissing the allegation that he threatened to hire forces from Ghana to fight herdsmen in his state, Ortom also denied the speculation that he was previously prevented from seeing the president. “I had earlier briefed Mr. President when this incident took place on the 1st of January. Continued on page 11

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NEWS PRESIDENCY ABSOLVES BUHARI OF HERDSMEN KILLINGS, BLAMES CRISIS ON DEMOGRAPHIC CHANGES After staying back on the ground to do the needful to ensure that we restored normalcy, I said it was important for me to come personally and brief him and that has been done. “Already, because of the communications we have been having when these incidents started, actions have been taken as directed by him. “The movement of the DIG, the movement of the IG to Benue State to ensure that this challenge is surmounted was at the instance of Mr. President. “Of course, additional personnel of the DSS and the police have been deployed and even the army. We have additional personnel on the ground now. “We have adequately and fully given them the logistics support to ensure that our people are protected. “I had to brief him. He is also doing further investigations to know the next line of action. I believe that my request that the leadership of Miyetti Allah must be dealt with will he heard. “They must be arrested and prosecuted because we cannot allow impunity to continue to thrive. And of course, threats and no action have resulted in these killings and I think that Mr. President will also do the needful to ensure something is done,� he said. On the speculation that he was prevented from meeting the president, he said: “I’m not aware of this and I don’t even know about that one. I’m hearing it for the first time. “If someone has done that, it must be this Miyetti Allah Kautal Hore that has done it. I have never accused anyone of blocking me from seeing Mr. President. I have seen Mr. President. “I told you that when this incident occurred, I spoke to Mr. President on the phone and followed it up. I know what it entails, being a president. “Even as governor, most times, I am not with my phone. People cannot access me all the time, much less a president. So I never said that I was blocked from seeing the president. “The truth is that I have access to Mr. President anytime I want. I speak to him on the phone and I see him personally. I requested to speak to him on the phone that day because I couldn’t come to Abuja and he gave me the opportunity and today, I’m here and I have seen him.�

The governor who said he would embrace any measure that would put paid to the gruesome killing of his people, added that if the mayhem was not stopped, it would only add to Nigeria’s over-bloated problems. Ortom also dismissed as blatant lies, claims that the January 1 killings were caused by the theft of 1,000 cows. “You know that man is a liar. Gololo is a liar. He is a wanted man in Benue State. We don’t even know where he is. He stays somewhere and makes allegations. “The other time, he said 1,000 cattle were stolen and the herdsman decided to commit suicide by jumping into the river. He has not come out to justify what he said. “Anything that can stop the killing of my people, I will go for it. I will support it. Any policy or any directive, anything that will help stop the killing of these innocent people who are not armed... because this cannot continue. “The law on the Prohibition of Open Grazing and Establishment of Ranches was made out of the necessity to ensure that we have peace for herdsmen and farmers and that is what we have done. “The law seeks to protect all and as I talk to you, except this Miyetti Allah Kautal Hore who are instigating people to fight and kill us, there are Fulani men in Benue State as I talk to you going about their business,� he said.

Buhari Orders IG to Move to Benue Meanwhile, the president on Monday night ordered the Inspector General of Police to relocate immediately to Benue State to restore law and order and forestall the escalation of the herdsmen-farmers’ crisis. According to a statement by the police spokesman, Mr. Jimoh Moshood, the order came as more killings of innocent people by herdsmen in Guma and Logo Local Government Areas in Benue State were reported. In compliance with the order, Idris was expected to move into the troubled state with additional five units of the Police Mobile Force (PMF). On Sunday, the police chief deployed, among other security measures, five MOPOL units. There are now ten of them in the crisis areas. More units of the police

special forces, counter terrorism units, and conventional policemen were also deployed in the state on Monday. “The aerial surveillance by police helicopters will continue, while the Police Mobile Force personnel, police special forces and conventional police personnel, the Counter Terrorism Unit (CTU), Police Explosive Ordinance Department (EOD) and Special Police Joint Intelligence and Investigation Teams already deployed to Benue State will carry on unrelentlessly with the patrols and crime prevention activities in the affected areas to sustain the normalcy that have been restored in the state,� Moshood was quoted by the News Agency of Nigeria (NAN) as stating. “The force will not hesitate to deal decisively with trouble maker(s), any group(s) or individual for conduct likely to instigate the escalation of the crisis. “The full weight of the law will be applied on anyone arrested for being responsible for the mayhem in the affected areas in the state. “While once again, the Nigeria Police Force commiserate with government and the people of Benue State over the loss of innocent lives, the force implores them to cooperate with the Nigeria Police Force in this latest effort to restore lasting peace in the state. “The commitment of the Nigeria Police Force to ensure law and order and the protection of lives and property of all Nigerians throughout the country remains unequivocal and unwavering,� Moshood added. In addition to the police reinforcement in Benue State, the Chief of Army Staff, Lt.-Gen. Tukur Buratai, said yesterday that the Nigerian Army has deployed troops to help stem the clashes between farmers and herdsmen across Benue and other neighnouring states and stabilise them. Buratai said this at the official inauguration of the Nigerian Army farms and ranch and presentation of farm implements to the army by the Minister of Agriculture in Giri, Borno State, yesterday. He listed the states where the troops had been sent to as Benue, Taraba and Nasarawa, noting that the army would support the federal government to stem the clashes. According to him, once the

nation attains food security, all forms of insecurity including the insurgency in the North-east, militancy, kidnappings and other forms of security issues would be reduced. “We are ready to support the federal government to stabilise the farmers’-herdsmen clashes across the country. “We are tasking our special forces to ensure that everywhere they are deployed across the country at short notice, they stem the conflict. “We have properly deployed across Benue, Taraba and Nasarawa States within the axis where we have the conflict. Once there is peace, the development in agriculture will thrive for the good of our country. “Areas such as ranching, fisheries, poultry production for eggs and meat, green houses and plantations are now practised in most barracks of the Nigerian Army,� he said.

Two Policemen Killed But despite the police and military deployment in Benue, rampaging headsmen on Monday killed two policemen in the state, while another police office sustained severe injuries after their camp was attacked by herdsmen in Awashuwa village in Logo Local Government Area. The herdsmen had earlier that day, attacked the camp of a detachment of mobile policemen from Mopol 13 stationed at Awashuwa in Logo but they were repelled, only for them (herdsmen) to regroup and attack the camp in the evening. Confirming the attack to journalists, one of the policemen who was badly injured during the ambush, said the herdsmen came in large numbers and overpowered the policemen and injured an inspector and a sergeant before they slit their throats in a nearby bush in the area. They also burnt some houses within the area after the attack, he added. Some of the injured policemen were taken to the Benue State University Teaching Hospital (BSUTH) in Makurdi, while the remains of the deceased policemen were evacuated to the mortuary in Makurdi. He also revealed that the Benue State Police Command, which embarked on an aerial surveillance operation, led by the Deputy Commissioner of Police in charge of Operations,

Mr. Abdul Gimba, made a stop over at Awashuwa while the corpses of the slain policemen were being evacuated. “Our men came under attack at Awashuwa in Logo Local Government Area of the state. They were ambushed by the herdsmen who had tried to attack them earlier in the day but they were repelled. They came back at night and two of our men were killed and their rifles taken away,� he said. The police public relations officer in Benue State, who also confirmed the incident, disclosed that a reinforcement was sent to the area from 13 PMF led by the commander, CSP Abubakar Garba.

Military Arrests Armed Gang In a related development, troops of 93 Battalion of the Nigerian Army stationed in Takum, Taraba State, yesterday arrested nine armed militia from Benue, claiming to be members of government sponsored security volunteers. A statement yesterday by PRNigeria, a media and communications firm used by the army and other security agencies in the country, said the armed gang was arrested at Arufu, a boundary town between Taraba and Benue States. Quoting an unnamed military intelligence source, PRNigeria said five of the suspects were armed with AK-47 rifles that were fully loaded. On their arrest, a reinforcement of a purported Civilian JTF group came to prevent the troops from taking them into custody. The military source, according to PRNigeria, further disclosed that when the soldiers stood their ground, the armed militia’s reinforcement later withdrew. The officer was quoted to have said: “During the preliminary investigation, the arrested armed gang claimed that the weapons were issued to them by one Aliyu Tashaku through an agent of government. “The suspects also confirmed that they were 60 in number in their own camp located at Gbeyi, Benue State. However, further investigation revealed that they were more than 700 and well-armed persons at the camp where they were trained by selected ex-service men on a monthly allowance of N15,000.00 from their sponsors.�

The suspects, said the statement, were co-operating with their investigators, while security operatives were conducting further investigations to unravel the real sponsors of the armed gang and their motives. But in reaction to the allegation that the Benue State Government had sponsored the armed militia arrested yesterday, the state government denied arming and owning a militia group. According to a statement issued yesterday by Mr. Terver Akase, the chief press secretary to the Benue governor, the state government categorically denied the fact that the government under Ortom had recruited any militia group and armed them since the governor assumed office. “Governor Ortom is widely recognised for his disarmament policy which brought about the amnesty programme leading to the recovery of about 700 arms and ammunition, with over 800 youths laying down their weapons to embrace the programme across the state. “It is also on record that the present administration inherited the state Civilian Joint Task Force from the previous government but later proscribed it,� he explained. Akase said following the enactment of the Open Grazing Prohibition and Ranches Establishment Act in Benue State last year, the government set up livestock guards to help with the enforcement of the law. The livestock guards, according to him, are not armed personnel, adding that their job is to ensure compliance with the regulation of ranches establishment and prohibition of open grazing of animals in the state. “The Benue State Government believes in the use of conventional security agencies to protect the people. “Even in the face of the renewed killing of innocent people by herdsmen in Logo and Guma Local Government Areas, Governor Ortom did not let the people resort to self help. The governor acted swiftly to get the approval of President Muhammadu Buhari for the deployment of more troops in the troubled parts of the state,� he said. He said the government was committed to bringing the killings in the state to an end and restoring peace to the affected areas.

‌ SAYS IT’S WORKING TO RESOLVE IMPASSE WITH SENATE OVER CONFIRMATION OF MPC MEMBERS government such as the CBN, FIRS, NCC, and others. The MPC meeting is crucial for the economy and its deferment could impede the CBN’s important role of setting interest rates and formulating monetary policies to ensure price stability and engender growth. The nomination of four members of the MPC has been pending before the Senate since October 2017, alongside the nomination of the deputy governor of the CBN, Mrs. Aisha Ahmad, and five non-executive directors of the Bank. However, the Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, speaking at a meeting with journalists yesterday, said the cause of the impasse, which led the Senate to suspend consideration of the MPC

nominations, would soon be addressed. Although he did not comment on the fate of Magu, whose rejection twice by the Senate led to the decision to suspend consideration of certain nominees from the executive, Enang said the Senate should be aware of the implications of its failure to confirm the MPC members. Elaborating on the nominations affected by the resolution of the Senate, Enang said the executive was engaging the legislature on the matter. “Mr. President has submitted, as required by law, and it is pending before the legislature and we are engaging the legislature within the law. “We are conscious that the legislature, particularly the Senate, is very responsive and very concerned about the economy of the country.

“The Senate is also conscious that nothing should be done that will be detrimental to the international image of Nigeria and perception of Nigeria. “The executive is also conscious that when the law requires a person to be confirmed, the person should be confirmed when it is submitted. “So, we are engaging the legislature, particularly the Senate on this, and the Senate is sensitive to the public and what is likely to happen, and the international perception of Nigeria’s financial and economic sector if members of the monetary committee are not confirmed,� Enang added. He observed that the Senate’s resolution had also affected the nominees for the Nigerian Electricity Regulatory Commission (NERC), deputy governor of the CBN, and managing director and

executive directors of the Nigeria Deposit Insurance Corporation (NDIC), among others. “Any matter that is standing like an issue between the executive and the legislature which may be the reason for the embargo, we are going to address it and make sure that it is surmounted,� Enang stated. The presidential aide said the failure of the seventh National Assembly during the past administration to properly oversight ministries, departments and agencies (MDAs) of government was also responsible for several corruption scandals under President Goodluck Jonathan. “When they check and bring out what they are doing, it is not an attack on the executive, it is simply drawing the attention of the executive. It is some of these things that draw the attention of the president and

the ministers in their respective ministries and the parastatals under them,� he said. Enang was the Chairman Senate Committee on Rules and Business in the seventh assembly. “If you see too much compromise, the people will suffer and something will go wrong. I was involved and even if I indict myself, I will plead for forgiveness. “If there was activism, if the National Assembly and its different committees were doing their work in the seventh Assembly, checking what was happening in the Office of the National Security Adviser, checking what was happening in the petroleum ministry, we will not have the ‘Diezani-gate’ and all the other gates. “We will not have all that we are now having to probe as to how monies were utilised and how petroleum revenue

was spent. If the legislature had done their work as they are doing now, I think we would not have had this kind of situation,� he added. Commenting on the 2018 budget before the legislature, Enang said the executive and legislature were still at liberty to make inputs into the proposal, as it was yet to be passed. “Any person can make suggestions, that is not padding. Therefore, there can be no padding of a document that is before the legislature for legislative consideration. “If after a bill has been assented to and forwarded to the assembly for publication and gazetting, and somebody introduces something to it, that is padding, because you are adding an illegal, unlawful entry into a document, so that is padding and contamination of the document,� he explained.

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WEDNESDAY JANUARY 10, 2018 ˾ T H I S D AY

NEWS

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

Nigeria’s Oil Production Hits 2.25mbd as 254 Firms Submit Bids for 2018/2019 Term Contracts NNPC demands to know beneficial owners of bidding companies Chineme Okafor in Abuja Nigeria’s daily crude oil production with condensates has increased to 2.25 million barrels per day (mbd), but with crude oil production alone standing at 1.8mbd, while condensates are 450,000 barrels per day (bd), the Nigerian National Petroleum Corporation (NNPC) has disclosed. The NNPC also disclosed yesterday in Abuja that it had received 254 applications from oil trading firms, refineries and other national oil companies, interested in the 2018 to 2019 term contract to lift and sell Nigeria’s crude oil blends for the periods. NNPC’s Group Managing Director, Dr. Maikanti Baru, said shortly after declaring open the bid opening and evaluation exercise, the firms would be trimmed down to an acceptable number after evaluations of their bids are completed in the next three to four

weeks, and given up to 40 cargoes of Nigeria’s oil to lift and sell in the international market every month. Baru said this was equivalent to the volume of crude oil the corporation put out in its 2016 to 2017 crude oil term contract and which 39 successful bidders emerged. He also noted that going forward, the NNPC would demand to know the real owners and beneficial owners of companies that participate in its crude oil term contract as a new requirement to avoid trading with companies and individuals with questionable backgrounds. “For crude oilproduction without condensate, we’ve gone up significantly today. We have about 1.8 million barrels per day without condensate. If you add condensate, we make about 2.25 million barrels per day. So, there is significant improvement,” Baru said. He further said on the volume of oil to be lifted in the term contract:

“It’s about the volume that we had last year, we have about 40 cargoes on a monthly basis. The number of bidders that submitted this year is 254.” Continuing on the term contract, Baru explained that “after evaluation, which will take about three to four weeks, we will get the consent, and once we get the approval, we will announce the winners. “The beneficial owners being talked about refer to the company or the directors. We want to be sure, but in terms of reputation, we do not get our goods in the hands of companies that have directors with questionable characters.” He also said the corporation

would go ahead to conduct another crude oil term contract in 2019 and 2020, as against disclosures in 2016 that it was looking to exit the practice for a longer term stable contract. According to him, “I think the nature of commodity trading is that in some cases, you even do it at shorter periods because of the shared volume that is concerned. We continuously do refresh the bidders ‘position or lifters’ position on yearly basis because we think that there are opportunities for other players that could come in and we don’t want to shut them down. For now, we will do another term contract for 2019/2020.” Speaking on interests in Nigeria’s

crude oil blends, Baru claimed that demands for the country’s oil from North America was coming up again, and that supplies to the continent in 2017 was about 16.5 per cent. “Contrary to people’s perception and because of the shale oil that had taken up most of the markets of Nigerian crude oil, which, of course was the perception that we had about two years ago, in fact in 2016, we had very low export, particularly to the US. But last year, we had up to 16.5 per cent, to be precise of our crude oil going to North America,” he stated. Europe and Asia, the NNPC explained, still remained the most preferred destinations for Nigeria’s

crude oil with 36 per cent and 26 per cent of supplies going to them respectively. Similarly, the Group General Manager, Crude Oil Marketing Division (COMD) of the corporation, Mr. Melee Kyari, said the bid process was fully automated and made to withstand possibilities of tampering. Kyari stated: “There would be no lobbying in the lifting programmes. It is fully automated. The customer knows where and when they get their liftings and this is unparalleled.” He noted that parts of the procedure was that the companies selected had to have a net worth of $250 million, turnover of $500 million, an irrevocable letter of credit with their banks and years of experience.

Bill Gates to Repay Nigeria’s $76m Polio Debt Nigeria has authorised Bill and Melinda Gates Foundation to start the repayment of $76 million polio eradication loan to Japan. The Minister of Finance, Mrs. Kemi Adeosun, made this known in Abuja yesterday when she received a delegation of Japanese House of Councillors Parliamentarians. She said the delegates were in Nigeria to assess the level of usage of Overseas Development Assistance (ODAs) extended to Nigeria since 2014. She added that the authority to trigger repayment was given to Bill and Melinda Gates Foundation following the eradication of polio in the country. She noted that the eradication of polio was made possible as a result of the ODA facility provided by the Japanese Government valued at $76 million in 2014. She recalled that the ODA was structured for repayment after four years and that by this development, Bill and Mellinda Gates Foundation would start repaying the facility to Japan this year. The News Agency of Nigeria (NAN)

reported that Adeosun while marketing Nigeria to the Japanese delegation noted that Nigeria was fast growing and evolving from negative areas to positive areas through its determined fight against corruption. She added that “because Nigeria is a middle income country, we will require the expertise of Japanese companies for infrastructure development. “Nigeria is a good place to invest because it is a rising investment destination. “I promise that the government will make life easy for Japanese investors wishing to do business in Nigeria.” In his address, the leader of the delegation, Mr. Kiyoshi Ejima, described Nigeria as a powerhouse with rich natural resources with which Japan tried to strengthen relationship with. Nigeria, he said, had set the target of becoming one of the top 20 economies by the year 2020 and he assured that “Japan will support Nigeria toward realising its 2020 target.”

End Gruesome Killings Across the Country, Amnesty International Tells FG Obinna Chima The Amnesty International Nigeria has called on the federal government to take urgent steps at ending what it described as an epidemic of gruesome killings across the country Responding to a spate of killings in Nigeria over the past week by herdsmen, ethnic militias and cult groups which have left dozens dead across parts of Benue, Kaduna, Rivers and Taraba States, the Director of Amnesty International Nigeria, Osai Ojigho, in a statement expressed disappointment that no one has been brought to book. According to him, the government must make better

use of its resources to bring the perpetrators to justice. He added: “The Nigerian authorities must do more to end this epidemic of gruesome killings of dozens of people across the country. Though these clashes have been going on for years, we have seen a disturbing escalation in the bloodshed since the start of 2018. The government must make better use of its resources to bring the perpetrators of these attacks to justice. “No-one has ever been held to account for the many murders committed during these clashes. The pattern of attacks and reprisals is reaching a boiling point

Cont’d on page 52

ALL IS STILL NOT WELL MR. PRESIDENT

President Muhammadu Buhari (right), receiving Governor Samuel Ortom of Benue State in his office at the Presidential Villa, Abuja ...yesterday Godwin Omoigui

INEC Releases Full Election Timetable, Parties Have Till Dec 3 to Produce Presidential Candidates Says Anambra senate rerun must hold Saturday Onyebuchi Ezigbo in Abuja The Independent National Electoral Commission (INEC) has finally issued detailed timetable of activities leading to the next general elections in 2019. According to the time table issued by the commission, all the political parties are expected to submit to INEC names of its presidential candidates latest on December 3, 2018. It said the earlier approved election timetable which scheduled the presidential and National Assembly elections for February 16 and governorship and state assembly polls for March 2, 2019 still stands. Addressing journalists at the headquarters of the commission yesterday evening, the Chairman of INEC, Prof. Mahmood Yakubu, said the only adjustment is that the area council election in the Federal Capital Territory (FCT) will now hold simultaneously on the same date with the governorship elections.

While fielding questions from journalists, Yakubu said the commission would go ahead with the rerun election for Anambra Central Senate seat fixed for January 13. Giving details of the approved timetable, he said henceforth, presidential and National Assembly elections will hold on the third Saturday of the month of February of each election year, while governorship and state assembly elections will hold two weeks later. The INEC boss said the commission would conduct elections for 1,558 constituencies made up of one presidential constituency, 29 governorship constituencies out 36 states, 109 senatorial districts, 360 federal constituencies , 991 state assembly constituencies, six area council chairmen as well as 62 councilor ship positions for the FCT. Highlights of the detailed timetable approved at its meeting

yesterday in Abuja gave all the political parties a deadline of December 3 to submit their candidates for the presidential election. Publication of notice for national and state election would be done on August 17, 2018, while that of the FCT area council elections would be done on September 3 this year. According to the INEC timetable, collection of nomination forms by political parties for national and state elections will done between August 11 and 24, 2018, while conduct of primaries, including resolution of disputes for national and state elections, will be between August 18 and October 7, 2018. Also, primaries for FCT area council elections will be between September4 and October 27, 2018. The INEC timetable also fixed commencement of campaigns for the presidential and National Assembly election on November 18, 2018, and will end February 14, 2019. For the governorship and state assembly elections, the campaign

will commence December 1, 2018, and end on February 28, 2019. While speaking on the uncertainty over the lingering rerun election for the Anambra Central Senatorial seat, Yakubu said the commission has not changed its position to hold the election on January 13 in obedience to the Appeal Court ruling which ordered it to conduct the said poll not later than 90 days from the date of the judgment. “We are going by the orders of the Court of Appeal, and so there will be election for the Anambra Central senatorial rerun on January 13 as scheduled,” he said. The INEC boss also said the committee set up to advise the commission on the creation of additional polling units has concluded its work and that very soon, the commission will make its position known. He also said the commission would this week issue registration certificates to new political parties.

WEDNESDAY JANUARY 10, 2018 ˾ T H I S D AY

13

NEWS

2019: Northern PDP Leaders Begin Search for Presidential Candidate BoT warns splinter group to shape up Onyebuchi Ezigbo in Abuja Northern elders and stakeholders of the Peoples Democratic Party (PDP) have commenced profiling of presidential aspirants that can fly the flag of the party in the 2019 presidential election. The Chairman of the PDP Board of Trustees (BoT), Senator Walid Jibrin, who disclosed this yesterday when he received members of the PDP ward-to-ward team on courtesy visit, said the region has started “the process of identifying credible candidate from the northern region who will fly the party flag in the 2019 presidential election.” The BoT chairman also weighed in on the recent outburst declaration by an aggrieved PDP group, warning them to desist from creating further crisis in the party. He said the BoT would do all it can to ensure that those behind the rebellion did not succeed in throwing the party into crisis again. Speaking on the plans for 2019, Jibrin said the aim of embarking on the search is to identify who is the best candidate to rule this country, the best person that will help PDP take away power from the All Progressives Congress (APC). Some political gladiators from the North, including former Vice President, Atiku Abubakar; former Governor of Jigawa State, Sule Lamido, and former Governor of Kano State, Ibrahim Shekarau, have already indicated their intention to run for the office. However, Jibrin said the stakeholders of the party in the North would ensure that only the best candidate is presented

for the presidential race. “All of us as a party, have agreed that the president of Nigeria should come from the North. I enjoin you to support the North to bring and give you a very capable president, never-a-no-do-well president, a good quality president. “We are all doing what we can in the North with all the leaders to identify who is the best candidate to rule this country, the best person that will take away power from the ruling party because 2019 is our own, 2019 is for PDP,” Jibrin stated. On the return of former Vice President Atiku Abubakar to the party, Jibrin described it as a good omen for the PDP, adding that the party was expecting more former PDP members who had left the party. He used the occasion to urge the Senate President, Bukola Saraki, and former Governor of Kano State, Senator Rabiu Musa Kwankwaso, to make haste and return to PDP. “We are also expecting a big return of some of our former governors, our National Assembly members and very renowned party followers. And when this is done, which will be done very quickly, then the party will now come to its stable stand. “We should encourage anybody who has left us to come back and reunite with us. We will not hate anyone or deprive anybody. It is a good omen for this party that we should receive people. “We are therefore calling on Saraki, Kwankwaso and all our former legislators who had left this party to come back quickly,” the BoT chairman stated. Jibrin said the BoT has set up internal reconciliation committee

headed by former Senate President, Senator David Mark, to reconcile members of the board who were at different camps during last year’s PDP national convention. He commended the role PDP governors played in the emergence of Prince Uche Secondus as National Chairman, stating the if

not for the governors, the party would not have had a successful convention. “BoT, throughout the campaign, was neutral, but some people decided to pitch camp with some aspirants. Because of that, we have decided to set a committee,” he disclosed.

He warned members of the factional group, the fresh PDP, to desist from creating further crisis in the party. “Our party has undergone many trials, trials of leaving the party by some former governors and some party leaders. Followed by the misfortune we suffered during

Ali Modu Sheriff reign and now one group is coming up again, the so called Fresh PDP. “I will pray that this PDP (group) will not see the light at all. We are doing all we can to ensure that they do not go anywhere. The suffering we suffered in the party will not be repeated,” he added.

BRIEFING THE PRESS ON ACTIVITIES

L-R: National Commissioner, Independent National Electoral Commission (INEC) , Prince Adedeji Soyebi; Chairman, INEC, Prof. Mahmood Yakubu; and National Commissioner, May Agbamuche-Mbu, at press briefing on the release of the timetable and schedule of activities for the 2019 general election in Abuja....yesterday Julius Atoi

Bayelsa: Four Soldiers Feared Dead, Several Militants Killed

Media C’ttee Makes Appeal on IPI in Military Operation 2018 Congress Olawale Ajimotokan in Abuja The Nigeria media stakeholders have called for cooperation to ensure the success of the 2018 International Press Institute (IPI) World Congress scheduled to hold in Abuja in June this year. The plea was made yesterday by a member of Programme and Event Committee, IPI 2018 Congress, Kabiru Yusuf, at the inaugural meeting of the organising committee, hosted in Abuja by the Managing Director of the News Agency of Nigeria (NAN), Mr. Bayo Onanuga. IPI Director, Barbara Trionfi, would visit the country next month for the stakeholders’ meeting to assess the level of preparedness for the event. Over 300 delegates from 60 countries will attend the congress which has the theme: ‘Why Good Journalism Matters.’ Yusuf enjoined all stakeholders in the journalism profession to contribute immensely and ensure that Nigeria organises a historic conference that would attract participants worldwide. He said the committee is seeking N200 million for the congress,

stressing that the event would provide Nigerians the opportunity to showcase the country and local talents in the industry to the global audience. “South Africa hosted the conference twice in 1994 and 2014, while Kenya followed suit thereafter. We have a challenge here because people want to go to Kenya. We are faced with a challenge to persuade foreigners on their own volition to take a flight to come and spend two days with us. All of us are doing it voluntarily. That is why we should do all we can to the glory of our country and to ourselves to make sure that we host the conference and get good participation,’’ Yusuf said. He said so many questions were asked before Nigeria was awarded the hosting right, adding that they are trying to use the event to project the image of the country. Yusuf stressed that the organising community would not rely on federal government funds even though they will be partnering government agencies. ‘‘We are not relying on the government to be the sponsor even though they are partners. At the end of day we will do our country proud if we are able to successfully host this important event,” Yusuf said.

Govt calls for calm

Emmanuel Addeh in Yenagoa At least four soldiers were feared dead yesterday in an operation to rid Toru Ndoro, Ekeremor Local Government Area of Bayelsa State of militants who beheaded a security operative who had been on the trail of a militant warlord in the area. During the ongoing operation which took effect last week, several commanders and foot soldiers fighting on the side of the hoodlums were also said to have been exterminated by the military spearheaded by men of the Joint Task Force, Operation Delta Safe (OpDS). The bloody clash, THISDAY learnt, had also led to more residents fleeing the embattled community, in which the kingpin simply identified as ‘General’ Karaowei, who is alleged to have masterminded several heinous crimes in the waterways around the area, held sway. Many of the security chiefs in the region were said to have been riled by the sheer audacity of the gang, which after killing the senior security officer, made a ceremony out of the murderous

act by displaying the head around several communities in apparent triumphalism. Enquiries directed at the Coordinator, Joint Media Campaign Centre of the special security outfit, JTF, Major Ibrahim Abdullahi, were yet to be responded to yesterday evening, but a senior military officer in the know of the operation, who spoke in confidence, confirmed the killing of the four soldiers by the militants. He disclosed that the military were already closing in on the murderers and their leader, maintaining that the hoodlums would soon be apprehended. The JTF Commander, Rear Admiral Suleiman Apochi, also reportedly deployed more troops in the community who were said to have intensified their search to locate the hideout of the militant leader and his boys in the creeks. Also yesterday, the Bayelsa State Government described the recent killings as barbaric, lawless and totally condemnable, adding however that the initial killing by the militants took place in Edegbene community, Burutu Local Government Area, Delta State, but only spilled over to Bayelsa State during the criminal celebration of

the dastardly act by the suspects. A government statement signed by the Special Adviser to the Governor on Security Matters, Dr. Boma Spero-Jack, stated that the governor found the act completely unacceptable and counter-productive to the security efforts of the government. “The government calls on fleeing members of Toru Ndoro community to return home and go about their normal and legitimate duties, as the government is on top of the matter,” he said. The statement also called on the military authorities to be professional in the ongoing operation and abide by the rules of engagement to avoid collateral damage. It advised the army to consider the lives of innocent and law abiding citizens, especially women and children. Dr. Spero-Jack also called on community leaders not to allow criminally-minded persons to gain ground in their domains, as their actions could impact negatively on them. Lamenting the situation, the Chairman of the Ijaw Youth Council (IYC), Central Zone, Mr. Tari Porri,

condemned the violent attitude of some youths in communities. “The situation there at Ndoro community was orchestrated by some of our political leaders who buy these weapons and pay these young men to intimidate people during elections, and after the election, they fail to retrieve these weapons from them. “This has brought us to where we are today. This issue is a big problem. And the annoying thing is that when reported to the security personnel, they come after your life. It is very painful. This is a self -inflicted injury,” he alleged. Porri added: “Some of our political leaders celebrate these young boys more than the sane ones. As a zone and Ijaw youth council, we sympathise with those affected by the operations carried out. We condemn the act in its entirety. “Cutting the head of a human being and celebrating with it is an abomination, and we condemn it. We call on our community leaders and rulers to stop celebrating criminals. I am worried that if the military doesn’t succeed in apprehending the young man, his return will be deadly.”

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COMMENT

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

A LEADER WHO INSPIRES

Imam Imam pays tribute to Aminu Tambuwal, Sokoto State Governor, at age 52

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ix years ago, five young Nigerians graduated from Usmanu Danfodio University with a bachelor’s degree in Law and were on the verge of missing admission into the Nigerian Law School due to lack of finances. Over dinner, it was mentioned to the then Speaker of the House of Representatives, Hon Aminu Waziri Tambuwal, of the dire situation the young ones were in and how their dreams of becoming lawyers was getting away by the hour. Without asking who they were, he directed us to contact them. Few days later, he not only paid for all they required, he ensured each of them got a laptop computer to aide their studies. The interesting aspect of this story is that few days ago, I encountered one of them in Abuja and while thanking me for intervening at a very critical period in their lives, he expressed disappointment that none of them was able to meet with Tambuwal to thank him collectively and individually for his dream-saving gesture. Why am I telling this story today? The lesson here is simple: some people are attracted to those who need help because it feels good to be of help at critical times. Whenever someone is hurting or suffering in some ways, kind-hearted individuals deliberately come forward to help without even wanting to be praised. This is where Tambuwal comes in. I am sure the lesson in this encounter is not lost on Tambuwal himself. This is because his life does not lend itself to embellishments – it is an inspirational and captivating study of the triumph of mind over matter. As we mark his birthday today, we will all meditate on this lesson, and draw the positives that will continue to illuminate paths in our relationship with others. In the last 52 years, Tambuwal has left no one in doubt about his capacity for fair and equitable representation. Over the years, he has demonstrated ability to meet with the needs and demands of the people that he encountered. His profound achievements as governor in the Seat of the Caliphate have drawn praises, honour and recognition from far and near. In his role as the Number One citizen of Sokoto, Tambuwal has raised the ante of purposeful leadership and good governance. By a magic of work, ethics and sincerity of purpose, his administration has prioritised areas whose importance will continue to have enduring impact on the life of the citizenry. Such sectors include education, agriculture, health, women and youth empowerment, energy, poverty eradication and revamping of the entire governance structure. His administration is making positive impact in public schools by building new classrooms, supplying of chairs, tables and textbooks for students, delivering new buses to schools, and flagged off programme to enrol 1.4 million new kids into schools in the next 12 months. All these led to a stamp of

TAMBUWAL’S APPROACH TO LEADERSHIP IS DEFINED BY THE VISION TO BUILD PEOPLE AND ENDURING STRUCTURES THAT CAN STAND THE TEST OF TIME

commendation by UNICEF after the number of out of school children dropped by half in the state in two years. In agriculture, 140 women and pensioners were trained in fish farming and supported with grants and starter-packs of tanks and fish feeds to start businesses. The government gave out 981,000kg of improved rice seeds to farmers free of charge to support them, and after introducing wheat farming to the state for the first time, it gave 6000 bags of 100kg wheat seeds to farmers, free of charge. To ensure sustainability, promote new technology and enhance private sector participation in farming, the state government and Dangote Industries Ltd started a rice outgrower scheme at Goronyo and Middle Rima Valley. Some1000 farmers were engaged for the pilot project in 2017 with 500 hectares of land committed. For the 2018 farming season, 2000 hectares will be used with the number of farmers also increasing. All these efforts were complemented by distribution of fertiliser, water pumping machines and pesticides. The result is increase in yield and more wealth and prosperity for Sokoto farmers. The same team work and strength of character led to these successes replicated in all the sectors of the economy of the state. Tambuwal’s approach to leadership is defined by the vision to build people and enduring structures that can stand the test of time. While most are admired because they move others to follow their example, Tambuwal belongs to the category of a few who are special enough to encourage others to find their own unique path. Just by being who he is, he has sparked many to be who they want to be. Through thoughtful leadership, great vision and sincerity, all parts of Sokoto have felt the positive impact of his activities. And for that, if for nothing else, he deserves to be called a leader who inspires. In this season of politics, many, especially closer home, have deliberately chosen to misunderstand Tambuwal. But as Ralph Waldo Emerson said decades ago, “Is it so bad, then, to be misunderstood? Pythagoras was misunderstood, and Socrates, and Jesus, and Luther and Copernicus, and Galileo, and Newton, and every pure and wise spirit that ever took flesh. To be great is to be misunderstood.� With time, people will understand the fact that Tambuwal is indeed a role model for all those seeking to understand how to make impact with their lives. And on this momentous day of his 52nd birthday, I thank him for his service, and wish him a happy birthday. Imam, the spokesman to Governor Tambuwal, wrote from Sokoto

BUHARI’S SECOND TERM GAMBIT President Buhari does not have what it takes for a second term, argues Sonnie Ekwowusi

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part from greed, political ideological bankruptcy, sheer incompetence, crass materialism, narcissism, profligacy, another vice imperilling Nigerian democracy is lack of sense of shame. The Nigerian political actors have lost the sense of public shame. This lack of public shame finds its dramatic expression in the instinct in most politicians to grab political power by all means not to serve but to dominate their fellow men. President Muhammadu Buhari’s second term bid, despite his consistent poor performance in office, exemplifies the lack of sense of public shame in contemporary Nigerian politics. Notwithstanding that the people are complaining that their lives in the last three years are full of miseries, anguish, despondency and hopelessness President Buhari is jostling to staging a comeback in 2019. Where has public shame gone? Why do our politicians have no sense of public shame? We must restore the power of public shame in Nigeria. We must restore the power of public indignation. What is repugnant is repugnant. President Buhari’s bid for a second term is repugnant to good conscience. The truth of the matter is that President Buhari is not a saleable presidential material in 2019. We don’t even need a Fr Camillus Mbaka or any of these self-imposed prophets to remind us of this truth. It is a self-evident truth. Even Aisha Buhari, the president’s wife, known for her boldness in speaking the truth, did not mince words in telling her husband that the confusion reigning in Aso Rock Villa was a big obstacle to progress in his government. She specifically told her husband to get rid of the cabals in his government if he wanted to make some progress. But as usual,

Aisha Buhari’s kind advice went unheeded. Now the Nigerian citizens are probably experiencing their worst economic hardship in recent years. Three years down the line, nothing has changed. The same failed leadership; the same electricity failure; the same failure to fight corruption; the same injustice everywhere; the same collapsed educational system; the same collapsed primary health system; the same stealing of government by the people in government. I need not reiterate here the hardship the Nigerian people suffered at last Christmas owing to fuel scarcity. Even as we speak there is no end in sight to the fuel scarcity. The fuel queues keep on shortening and elongating everywhere. Meanwhile the government keeps blaming the marketers for the scarcity. We are like a people groping in darkness. We are a people groping from one darkness to the other; from one government’s faux pas to the other; from one scatter-brain idea to the other. Now instead of pausing a moment and figuring out the best way to ameliorate the worsening living conditions in Nigeria, President Buhari is now campaigning for a second term. His vaulting ambition to grab power again in 2019 has taken priority now. The president has reportedly re-appointed Minister of Transportation Rotimi Amaechi as the Director-General of his 2019 Presidential Election Campaign. Asked whether President Buhari would seek re-election in 2019, Minister of Communications Alhaji Adebayo Shittu said: “It goes without saying, I mean if you have a child who goes to primary school and he does well, he proceeds to secondary school and he does well and you keep asking if he will be going to university. It goes without saying‌ By the grace of God, we his (Buhari’s) ardent supporters who

appreciate his worth on behalf of millions of Nigerians would urge him to re-contest.� With the greatest respect, I disagree with Alhaji Shittu. President Buhari has not done well. On the contrary he has failed the test. Therefore it is advisable that he refrains from seeking a second term. Pursuant to section 14 (2) (b) of the 1999 Constitution, it is the primary responsibility of the Federal Government to protect the lives and property of its citizens. But painfully, human life has become so cheap in Nigeria in the last three years. An innocent citizen can be hacked to death in the full glare of the public. This is not a good testimonial for the Buhari government. Imagine, under the watch of the Buhari government the Fulani herdsmen have been having a free killing field: they have been killing men, women and children in different parts of Nigeria with their AK-47 and other sophisticated weaponry. Recently, the Fulani herdsmen attacked the Agatu Community in Benue State and killed 33 indigenes of the community. It is on record that the Fulani herdsmen have killed about 5, 500 people in Agatu in the last four years. In 2016 alone about 400 people were murdered in the same Agatu community by the same herdsmen. Benue State Governor Samuel Ortom now laments that his life is being threatened by those who do not want the implementation of the Open Grazing Prohibition and Ranches Establishment Law aimed at checkmating the murderous activities of the Fulani herdsmen in the state. In Kaduna State, a monarch and his wife were recently attacked and killed by the same Fulani herdsmen. In Ilorin, Kwara State, many Christian worshippers who were returning from the New Year Cross-Over Night Service were attacked and hacked to death by the same Fulani herdsmen. In

Omoku, Rivers State, about 17 Christian church worshippers were killed during the last New Year Eve by the same Fulani herdsmen. Some husbands were dragged out of their houses and murdered in front of their wailing wives by the same Fulani herdsmen. Whereas we were to believe that Boko Harm had been defeated in Nigeria by the Buhari government but, Boko Haram continues to freely ravage Borno, Yobe and Adamawa States. Recently Boko Haram struck at Kanama, Gamboru Ngala and Mafa in Yobe State, and killed many soldiers and civilians there. Apart from Boko Haram deadly attacks, what is now beyond comprehension is that the murderous Fulani herdsmen have remained untouchable in Nigeria. Whereas the government could arrest and prosecute IPOB members, the same government is unable to arrest and prosecute the murderous Fulani herdsmen. Therefore President Buhari is advised not to seek a re-election in 2019. More importantly, the Buhari government is rocked by lots of corruption scandals. The evidence of corruption in the Buhari government include: the N233 million grass-cutting fraud involving former Secretary to the Government of the Federation; the $25 billion NNPC contract scam; the Osborne $43 million loot; N3.2 billion Aso Rock Clinic drug-purchasing fraud; the MTN bribery scandal; the controversies surrounding the nomination of Ibrahim Magu as Economic and Financial Crimes Commission (EFCC) boss; the recall of Abdulrasheed Maina to the civil service. Certainly, a democracy that creates loopholes for flourishing corruption, fraud, kleptomania and graft cannot lead to human flourishing. Therefore President Buhari is advised not to seek a re-election in 2019.

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EDITORIAL THE GROWING POVERTY IN THE LAND

To arrest the trend, the citizenry must begin to demand equity, fairness and accountability from their leaders

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hile Nigeria’s labour population increased from 83.9 million in the second quarter to 85.1 million in the third quarter of last year, the country’s unemployment rate rose from 14.2% to 18.8%, according to the latest ďŹ gures from the National Bureau of Statistics (NBS). This should worry the authorities, especially when the NBS also stated that the total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in the second quarter to 51.1 million in the third quarter of the same year. That there is no engagement of the report is indicative of the fact that the federal government is not interested in working with data. More disturbing, however, is that all the much-touted impressive economic growth rates of the last couple of years have not translated into good life for a majority of the people. On the contrary, Nigerians continue to be ranked among ALL THE MUCH-TOUTED the poorest people IMPRESSIVE ECONOMIC in the world and GROWTH RATES OF THE this paradox can be LAST COUPLE OF YEARS linked to the growing HAVE NOT TRANSLATED inequality between INTO GOOD LIFE FOR A the rich and the poor. MAJORITY OF THE PEOPLE Meanwhile, it has long been projected that by next month, February 2018, Nigeria will overtake India as the country with the most number of citizens living in extreme poverty despite the fact that India has more than four times the population of our country. Living in extreme poverty, going by the parameters set by the World Bank, means living on less than $1.90 (N680) per day, an amount that cannot guarantee for any individual even the barest minimal needs for survival. This is another emblem of shame that should task all of us. Some of the factors responsible for this state of affair include a growing population amid declining ďŹ nancial resources, high incidence of unemploy-

ment, predominant production of primary goods over ďŹ nished products, aging public infrastructure and opaque systems of governance. The high rate of out-of-school children and poor output in the education sector also contribute negatively to deepening this inequality as the nation churns out a crop of uncompetitive youth in a world driven by technology.

T T H I S DAY

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he challenge is even bigger. Many of the rural communities in the country today are not connected to the national grid and as such, do not have any electricity. Some do not have access to potable water and many lack critical infrastructure for storage and transportation of raw materials from their places of production to markets. In several parts of the country where farming is the main occupation, the incessant clashes with herdsmen have made the profession a serious hazard. The foregoing are a few of the challenges that have to be addressed to lift our people out of poverty. But the federal government must also stop providing undue advantage in form of waivers to few persons while the current regime of subsidies that do not impact on the poor is unsustainable. Government must focus on the people, their safety and welfare; the optimal allocation of scarce resources and the effective implementation of policies for service delivery. Therefore, we hope the federal government and the authorities in the 36 states of the federation will wake up to the reality of not only the growing gap between the rich and poor of our society but also the seeming hopelessness for a vast majority of our people. Ironically this is happening in nation blessed with enormous natural and human resources, but which has consistently been held down by poor governance at virtually all levels. There is also a role for citizens. We must begin to demand equity, fairness and accountability lest this deepening cycle of poverty continues. Until we begin to do all these, Nigerians will ďŹ nd it increasingly difďŹ cult to maximise their potential in the bid to enjoy better lives.

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HEPATITIS: A GLOBAL HEALTH CHALLENGE

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reviously described as epidemic jaundice, hepatitis (inflammation of the liver) is a potentially life-threatening liver infection caused by the five unrelated hepatotropic viruses: hepatitis A, hepatitis B, hepatitis C, hepatitis D and hepatitis E; all respectively members of the Picornaviridae, Hepadnaviridae, Flaviviridae and Hepeviridae of the viral family. The hepatitis virus attacks the human liver to either cause acute or chronic hepatitis. Chronic hepatitis, usually of hepatitis B virus develops after weeks to months of untreated initial infection leading to complications in the liver as cirrhosis and hepatocellular carcinoma (cancer of the liver). The case of fatality rate due to acute hepatitis is about 1%. But individuals with chronic infection typically acquired in childhood, have a 25% risk of premature death due to either liver cancer or cirrhosis and the resulting persistent liver damage associated with infection. Viral hepatitis has been known to exist since ancient civilisations. The contagious nature of the illness was suspected even in the eighth century CE, as shown in records of major military campaigns in different continents of the 18th to 20th centuries, including the American Civil War, the First World War and the Second World War. According to the World Health Organisation (WHO), viral

hepatitis is one of the most common infectious diseases which are of a global public health problem in the world today. Each year, over a million lives are lost due to viral hepatitis, mainly in Third World nations. Symptoms of viral hepatitis include: tiredness; poor appetite; fever; nausea and vomiting; darkening of urine; jaundice (yellowing of the skin and eyes); stomach pain; light-coloured stool and frequent diarrhea, among others. The methods of transmission of hepatitis include: sexual intercourse; blood transfusion and at a chronic stage, blood or bodily fluids like sweat and saliva are vehicles of transmission. Though hepatitis can be prevented by avoiding risky behaviours, it still remains an important occupational hazard for health workers. In May 2016, the World Health Assembly endorsed the Global Health Sector Strategy (GHSS) on viral hepatitis 20162021 report. The GHSS calls for the elimination of viral hepatitis as a public health threat by 2030 (reducing new infections by 90% and mortality by 65%). This is to focus on hepatitis B and C, the most deadly responsible for 96% of all hepatitis mortality. In conclusion, the Nigerian government has to do more in areas of research, vaccination and public awareness programmes aimed at tackling the hepatitis health challenge that is killing hundreds in the country daily. Umar Musa Zakari, DNA Labs. Ltd, Jos

IS AISHA GOING THE WAY OF STELLA?

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ealising that I am some four months older than Nigeria’s First Lady, Mrs. Aisha Buhari, I have always studied her progression with keen interest whilst wondering in my mind how I would look now if had been born a female. Not too long ago I was worrying in my mind that, owing to President Buhari’s long absence on medical vacation, Aisha was going out of shape; those chubby cheeks, thick lips, expanding stomach-line and a general heavyset bearing. That wonder returned again; so if I had been born a girl and now married, now a grandma, and my husband goes away on a long medical vacation would I let myself be bloated? As if she was reading my mind, the recent photos I saw of Aisha on the pages of newspapers answered my question. Gone now is that grandmotherly look and carriage; Aisha looked sharp at Gen. T. Y. Danjuma’s 80th birthday bash in Lagos. Gone

also were those chubby cheeks and in their place were what looked like cleft cheeks, thinner red-tinged lips, and a generally less-heavyset mien; there was even a hint of a tummy-tuck job. Aisha simply looked radiant in her red dress; that suspected tummy-tuck job reminded us all of the late Stella Obasanjo and it seems alright that after gouging themselves full with the goodies of Aso Rock, sitting first ladies should proceed for facelift and liposuction surgeries. It is all fitting and proper. Now President Buhari and his cohorts must stop flaying the Peoples Democratic Party for “mess left behind� and sundry. One such “mess� must have been a tip on how to look radiant post-menopause so that “oga� does not take his attention elsewhere. The idea that President Buhari has also resumed his duties in the bedroom is comically entertaining. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

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T H I S D AY W E D N E S DAY JANUARY 10, 2018

T H I S D AY WEDNESDAY JANUARY 10, 2018

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T H I S D AY ˾ WEDNESDAY, JANUARY 10, 2018

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Saraki and the Threat of Opposition in Kwara The hegemony of Senate President Bukola Saraki in Kwara politics is being challenged by the opposition. Hammed Shittu examines the dynamics that are likely to determine the 2019 general election in the state

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t is not an overstatement to say that the November 18, 2017 local government council election was not the best outing for members and the leadersship of the ruling All Progressives Congress(APC) in Kwara State. During the election, the political dynasty of the late strongman of Kwara politics and former Senate Leader, Dr. Olusola Saraki, built and nurtured over the years, came under threat due to a partial victory recorded by opposition Peoples Democratic Party (PDP). The concern now is that what many consider as a very formidable dynasty which is currently under the leadership of the scion of the late politician and present Senate President, Dr. Bukola Saraki, who was also a former governor of the state, is under threat. For the first time in the history of the state, in a period of over 40 years since the Saraki family has managed the political affairs of the state, an opposition party, specifically the PDP, sprang a surprise by snatching eight councillorship seats in a local government election conducted by the ruling party in the state. It is a development political analysts expect to give the APC leadership some sleepless nights, even though they successfully delivered all the 16 chairmanship positions to the party without allowing PDP to take even one. Historically, the Saraki dynasty never lost any seat to an opposition in the the state. All the seats in any local council elections so far conducted in the state were always won by the candidates approved by the power brokers without any hindrance and this had been due to the acceptability of “Baba Oloye’ as the late father of the Senate President was fondly called by his political admirers. The younger Saraki has no doubt consolidated on the foundation laid by his father. He took over the political leadership of the state with calculated dexterity and like his dad, during his tenure as governor, in the two local government councils elections conducted, no opposition got any seat. All the candidates he supported for the councillorship and chairmanship positions won with landslide. The secret is simply that practically all the political elites and people of the state work hand in glove with the arrangement of the leaders and also, there has always been a well planned approach to good governance at the grassroots. Even under the present administration of Governor Abdufatah Ahmed which conducted two local government elections, it was only during the last year’s poll that an opposition won eight councillorship seats. All the other candidates of the APC won landslide electoral victories. Away from the peripheral and looking deeply into the issues, some watchers of the Kwara State politics and members of the opposition PDP are of the opinions that the people of the state are beginning to wean themselves from the control of the dynasty. The argument making the round among those unfavourably disposed to the APC leadership in the state is that had the election not conducted by the state independent electoral commission, believed to be taking instructions from the ruling party, the party would have lost more local government councils seats in the state to the opposition.

Bukola Saraki

Despite the leadership crisis at the national level and the internal wrangling that rocked the PDP in the state before the local government councils election, the party was able to put up a strong show against the APC. Some members of the APC were said to be dissatisfied with the leadership of the party in the state and did not bother to help the party during the election. In fact, some APC leaders were defeated at their polling units in the election. This caused a stir within the ruling party which believed it had done well to win all the councillorship seats during the election. Several reasons were responsible for the loss of the seats to the PDP. Prominent among them is the allegation that the APC in the state did not meet the needs of some of its stakeholders. To express their grievances, these people chose to work against the electoral victory of their party during the election. Also, the non- payment of the workers in the 16 local government councils of the state was another factor that affected APC and paved the way for the electoral victory of PDP candidates.

Some members of the opposition PDP are of the opinion that the people of the state are beginning to wean themselves from the control of the dynasty

Before the conduct of the election, council workers were owed over 12 months salaries, a situation that forced some of the workers to turn to begging as a means of livelihood. They blamed the state government for nonpayment of their salaries, an allegation the state governor rejected. These council workers were unhappy with the ruling party and would be too happy to see the party lose the election. They worked against the APC in areas where theY could garner enough support. As if this was not enough, some of the members of the APC who were said to be dissatisfied with the attitude and action of some leaders in their various wards and local government areas came out enmasse to mobilise against the party in the election. APC sources hinted that some of the political leaders were very worried as the results of that elections were coming out on the election day, as some of them lost their wards to the PDP. The development was said to have angered the Senate President who could not believe the disappointment recorded during the election and was said to have vowed to go back to the drawing board so as to work harder in order to come up with a system that will guarantee efficient and effective electoral victory ahead of the 2019 general elections. The plan, according to sources close to the dynasty, is to return the party to total winning track for which it was known in the state. However, one of such moves being planned by the political leader of the state is to

create special constituency office within Kwara Central Senatorial District which he represents to enable him reach out to more people in the area. This would also help him to get reliable feedbacks that would help in addressing the issue of perceived neglect being raised among some people in the area.This, to Saraki, is charity beginning at home. Another move being carried out by Saraki was the new change in the leadership of its campaign house tagged, “Mandate House.” The idea is to bring on board more talented politicians that would see to the day to day administration of his campaign office. The Mandate campaign house is the political house that has produced many political office holders in the state, including including the incumbent governor and his deputy, Elder Peter Kisra, senators, members of the House of Representatives, state lawmakers, local government chairmen, councillors, commissioners, special advisers and several others. The office usually embarks on various welfarist programmes for the people of Kwara Central Senatorial District. It also undertakes many developmental projects in the district - like road construction, transformers distribution poverty alleviation, construction of boreholes, distribution of educational materials to students among others. It also extends these giant strides to the other two senatorial districts that make up the state. So, Saraki has appointed a grass roots man, a former commissioner and special adviser on Political Matters, Alhaji Musa Abdullahi as the new Director General of the campaign/constituency office. Speaking at the handing over ceremony, which took place at the office, the outgoing Director General of the campaign, Abdulwahab Oladimeji Issa enjoined his successor to use his wealth of experience in public offices to serve the people of the district and the state at large. He stated that, the dispensation of the dividends of democracy for which the office was established sas the cornerstone of the programmes that the constituency office runs. Abdulwahab thanked Saraki for the numerous successes that were recorded during his time in office, including road constructions, rehabilitation of Agba dam, provision of borehole, street lights, empowerment to the young and old, especially women and widows. According to him, the numerous employment and job opportunities that the Senate President brought to the district and the state as a whole were the biggest impact recorded as well as the numerous financial assistances that were given to the old and young for social functions and to attend to their health . In his response, the new DG, Abdulahi pledged to work with the management and the entire staff to improve the fortune of the constituency office. He urged them to come up with different ideas to move the office forward and serve the electorates better. He reiterated that the the constituency office is an umbrella body that would continue to attend to the demands of the people . With this inauguration of the new leadership at the campaign office of the Saraki dynasty led by an astute politician, Abdullahi, ahead of 2019 general elections, a stage should now be set for record breaking victories in the political history of the state as being envisaged by Saraki. Only time will tell how much of this will be actualised.

T H I S D AY ˾ WEDNESDAY, JANUARY 10, 2018

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PERSPECTIVE

MIDWEEKPOLITICS

An Endless Rivalry Hardly a month passes by without the Minister of Transportation, Chibuike Amaechi and Governor Nyesom Wike of Rivers State exchanging barbs. Expect the tension between these friends-turned-foes to get messier as 2019 draws closer, writes Davidson Iriekpen

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ith 2019 elections almost around the corner, the rivalry between the Minister of Transportation, Chibuike Amaechi and Governor Nyesom Wike of the Rivers State has intensified. Last week, the minister accused the governor of not doing enough to tackle insecurity in the state. The governor’s in action he claimed led to the killings of 17 persons who were returning from new year service in Omoku, Ogba/Egbema/Ndoni Local Government Area of the state by unidentified gunmen. Reacting to the incident, Amaechi who apparently is still unhappy with the loss of the state to the Wike-led Peoples Democratic Party (PDP), instead of sympathising with the families, accused the governor of playing politics with human lives. Some Nigerians aren’t happy with the minister’s reaction. They wondered if Wike was responsible for the killings of over 50 persons in Benue State, three in Southern Kaduna and injuring over 10 in Kwara State that happened almost simultaneously. Those who spoke with THISDAY could not understand why the minister chose to politicise the tragedy. “Which governor in his right senses will call on hoodlums to attack worshippers? In a situation of such monumental tragedy, one would have thought that the minister would have exercised some restraints by sympathising with the families of the dead and calling on security agencies to redouble their efforts in tackling crime in the case, the minister politicised the tragedy and not politicised it. Everything should not be politics. In Benue, Kaduna and Kwara, did you not see indigenes of the state rising up to condemn the killings? At that moment, they forgot their political differences and inu So why should Amaechi not do same?,” asked a former commissioner in the state who preferred to be anonymous. But the state government said Amaechi was economical with the truth by playing down on Wike’s efforts at tackling the security challenges in the state. In a statement issued by the state’s commissioner for Information and Communications, Emma Okah, he advised the former governor to redeem his fading image by attracting federal government projects to Rivers State like his contemporaries in APC from other states are doing. “When Amaechi was governor, high profile kidnap cases were recurring and violent crimes littered the space. Hon Charles Nsiegbe was killed right under his nose. Ambassador Igantius Ajuru was also killed. Arch Bishop Kattey was kidnapped, Prof. Nimi Briggs was also kidnapped. Rather than living in a faded past or demarketing his state, Amaechi should concern himself with what he is doing today as a stakeholder to improve the security of lives and property of the people that gave him the finest opportunities in life. “The Rivers State government has repeatedly accused him of using his federal position to compromise the security architecture of the state by influencing frequent change of Commissioners of Police to the state as well as his support to the Special Anti Robbery Squad (SARS) despite the litany of accusations of kidnapping, robbery, extortion, rape and criminality rained on them by the public in the state. “Security is a federal concern and as a government, Rivers State has sufficiently funded the security agencies to perform optimally and despite provocations from the SARS, we have never denied them support. I hope Amaechi has not forgotten how he refused to fund the police in Rivers State because the Commissioner of Police then was not doing his bidding of arresting and detaining his political opponents.” Also, the Chief of Staff to the governor, Chukwuemeka Woke, alleged that Amaechi promoted insecurity during his eight-year administration of the state. He further alleged that the state witnessed the highest level of kidnapping and political killings under the

Chibuike Amaechi

leadership of Amaechi. Woke alleged that several leaders of the state fled into political exile because the former governor used his armed goons to target political opponents across the state. He said: “It was under Amaechi that Charles Nsiegbe was murdered in cold blood by assassins. Late Captain Elechi Amadi was kidnapped while former Vice Chancellor of University of Port Harcourt, Prof. Nimi Briggs was also kidnapped.” On his part, Wike berated the minister for politicising security, saying that his comment on the Omoku killings was an indictment of security heads posted to the state by the APC-led federal government. The governor added that while his administration has never influenced the posting of any security head to the state, it has always funded and provided logistics for security agencies more than any state government in the country. “I challenge any state government in the country to come forward to say it has provided more support for security agencies than Rivers State. When you portray the state as insecure, you are driving away investors. No good man does that. By Amaechi’s logic, the killings all over Nigeria is being sponsored by the president,” he said. Wike alleged that while Amaechi was governor of Rivers State, all the leading construction companies like Julius Berger Plc fled the state because their personnel were kidnapped regularly. He revealed that Amaechi resorted to the use of unqualified contractors, which led to poorly executed projects. The governor said as a result of improved security in the state, first class construction firms like Julius Berger Plc, CCECC and RCC are working in the state. “International conferences and seminars are back to Rivers State. This is because the people now have confidence in the security architecture of Rivers State. During Amaechi, all the seminar and conferences moved to Akwa Ibom State,” he said. Analysts believe that it was wrong for anybody to blame the governor for the Omoku killings. In Nigeria, governors are supposed to be chief security officers in their respective states but in reality, this is not the case. Commissioners of police, heads of the army, navy, air force,

The politicisation of national security must stop for there can be no country without security

Nyesom Wike

civil defence and DSS do not take directives from governors but from Abuja. In the case of Rivers State where the opposition is in charge, every security implementation by the state government is always undermined by officials and members of the ruling party. Since he came to power 2015, Wike has handed over almost 450 vehicles and five armoured personnel carriers to the police and other security agencies. The state government recently handed over 10 armoured boats to the Navy to protect the waters in the state. These are in addition to other logistics like fuel and cash incentives to officers and men. The governor has tried to reduce criminality in the state by offering amnesty to cultists and this attracted over 25,000 men who surrendered their guns. The governor provided alternative sources of income through jobs and construction activities to the repentant cultists. This has won him high commendations from near and far. Since his assumption of office, the governor has been moving from community to community condemning violence and promoting peace. For this, Christians in the state through the Christians Association of Nigeria declared him an apostle of peace. He has twice offered huge reward to anyone with information on the mass killers. Also to further encourage the police to tackle crimes, the governor also instituted a N5million compensation for families of any police personnel, who lost his or her life while fighting kidnapping or armed robbery in the state. To curb the destructive predisposition of cult groups and the threat they constantly pose to peace and security in the state, Wike recently requested security agencies to carry out a total clampdown on cultists and related criminal behaviour in communities across the state. He directed heads of tertiary institutions to take measures, including arrest, prosecution and summary expulsion, to stamp out cult and related activities in all state-owned tertiary institutions; requested traditional rulers to join forces with the security agencies and local government chairmen to enforce the state’s anti-cultism law and eliminate cult activities in their communities. What the governor has done – which is also what almost all the state governors are doing – has no doubt indicated that the federal government is unable to equip the police properly to safeguard the lives and property of the citizenry. This funding aspect of police administration is, among others, the strongest argument in support of multi-level police. This matter has been a favourite subject matter among the elite for many years. Today, with the upsurge in crime especially such opportunistic crimes as

armed robbery and kidnapping, the subject has become even more relevant. Last week, the Bayelsa State Governor, Mr. Seriake Dickson, accused the federal government of playing politics with the national security. He further alleged that President Muhammadu Buhari was not personally in charge of the country’s critical security architecture. The governor said Buhari’s failure to be in charge of the nation’s security and engage critical stakeholders was the reason why APC leaders were playing politics with security. The governor said some APC chieftains had taken advantage of the dysfunctional and imperfect federal structure to hijack the security architecture, lamenting that they were using the security structures to torment innocent citizens for their selfish ends and by so doing, causing national insecurity. He also called on the president to call his party leaders especially to order; to desist from sponsoring insecurity. He said some APC leaders in the state were using the name of the president to compromise security by intimidating security agencies, stockpiling arms and ammunition, killing and ransacking communities at will. The governor said he formally reported the matter to the president and relevant authorities but lamented that instead of bringing the perpetrators to book, the federal government, to his utmost chagrin, not only shielded the criminals from prosecution but provided them with security. He said: “These APC leaders exploit the fact that Mr. President is not personally involved in the handling of national security to breach national peace and security. They know that he is not in charge of the critical issues of national security because he is not personally handling them the way he should. So they take advantage of the President’s attitude and the dysfunctional Nigeria state to intimidate and blackmail security agencies for their selfish interest and in the process, endanger the safety of lives and property of Nigerians. “These APC leaders use the name of the president to sponsor criminals to unleash savage violence on innocent citizens. Their aim is to cause panic and force them to align with them. A case in point is in Bayelsa State where some APC leaders hide under the protection of the federal government to stockpile arms and ammunition to maim and kill innocent citizens just to instill fear in them. I have personally reported this to Mr. President and to the best of my knowledge, there has not been any decisive action from him or the federal government. Instead of prosecuting these criminals, the federal government has beefed up security around them. The politicisation of national security must stop for there can be no country without security!”

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FEATURES

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

Taming the Dreaded Badoo Cult Femi Ogbonnikan takes a critical look at the renewed attacks of the Badoo cult group in Ikorodu community and its environs, and the security measures put in place by the Lagos State Police Command, in collaboration with other stakeholders, to end the activities of the dreaded group

Suspected members of the Badoo cult arrested in 2017 by the Lagos Police Command

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he mere mention of the word "Badoo" to residents of Ikorodu, a suburb of Lagos State, leaves a sour taste in their mouths and sends jitters down their spines and quickly forecloses a social media platform where it was originally coined, but as synonymous to a dare-devil cult group. It is a money-making ritual cult group which has its masterminds and sponsors in Ikorodu and operates within the confines of the upscale community and its immediate environs. Noted as the haven of notorious criminal activities, ranging from pipeline vandals to armed robbers, and to ritualists, Ikorodu has become a no-go area for visitors, on account of the unwholesome activities of the criminal elements that have made the community inhabitable. But barely three months on, the unwholesome activities of the cult group was brought to an abrupt halt, following the swift intervention of the Lagos State Police Command, in collaboration with the Lagos State Government and traditional institutions in the affected Ikorodu community and its environs, the masterminds of the group have called the bluff of the threat of the Lagos State Police Commissioner, Mr. Imohinmi Edgal, that read the riot act three months ago, halting the menace, and returned to the trenches, as no fewer than five deaths, traceable to the activities of the group, have been recorded in the areas a couple of weeks ago. In the latest onslaught, in the wee hours of Sunday morning, November 26, 2017, like an unleashing resurgence, the cult group struck in Offin, a neighbouring community in Igbogbo/Baiyeku Local Council Development Area (LCDA), in Ikorodu where it left in the wake the murder of a Pastor of the Redeemed Christian Church of God (RCCG), Victor Kanayo, in-charge of Fingers of God Parish, Offin and the maiming of his wife and a child. However, the injured wife and a 10-month old child were rushed to Ikorodu General Hospital, Beach Road, Ikorodu by police operatives attached to Igbogbo Road Divisional Police Station,

Ikorodu. It was gathered that the assailants smashed the head of the pastor with two big stones, which were said to have been found placed beside his corpse. On arrival, it was learnt that the gang had cut the iron bars on the window of the bungalow where the family lived to gain access into the house. Further findings revealed that the pastor and his two family members (wife and child) were the only occupants, living in the building because the landlord moved out some months ago as a result of fear and as well as the growing increase in insecurity in the affected area. While confirming the incident, the new Lagos State Police Command Public Relations Officer (PRO), SP Chike Oti, confirmed that the slain pastor was the head of Fingers of God Parish, RCCG, Igbogbo. “However, the command has made a couple of arrests, and suspects are being questioned with a view to discovering the author of the heinous crime. “The Lagos State Commissioner of Police, Mr. Imohinmi Edgal, has also dispatched a team of crack detectives to unravel those behind the dastardly act; dig into the past of the victim and see if there is a correlation between his past and his fate. “The issue of his past before he became a born-again Christian is of interest to the police because of a human skull tattoo drawn on his left arm which gives the victim away as one who may have belonged to any of the cult groups. “Meanwhile, investigation into the case

The notorious activities of the dreaded cult group had sent many to their early graves with cruel killings through the smashing of mortar and pestle on victims’ heads

is ongoing, findings will be made public as usual by the CP.� Shortly after, the police hierarchy in a special police gazette bulletin under the authority of the Inspector General of Police (IGP), Ibrahim Idris, with reference number CR 07/2017, had declared a popular independent oil marketer and prime suspect of the Badoo cult killing gang in Ikorodu and Epe axis of the state, Alhaji Alaka Abayomi Kamal, wanted. Alaka, who had earlier been arrested and released on bail by the police, was said to have frustrated attempts to re-arrest him. The 51-year-old suspect, who is the owner of Alaka Petroleum, is wanted in connection with series of well-orchestrated killings and nefarious activities of the Badoo cult group. The notorious activities of the dreaded cult group had sent many to their early graves with cruel killings through the smashing of mortar and pestle on victims’ heads. His declaration as a wanted man followed a warrant of arrest duly obtained from a Lagos State Magistrate Court. According to the bulletin, “The abovenamed person (Alhaji Alaka Abayomi Kamal “M�) is hereby declared wanted by the Nigeria Police Force on CRO Form “5� issued by the Office of the Deputy Commissioner of Police, Criminal Intelligence and Intelligence Department (CIID), Musiliu Smith Street, Yaba, Lagos. “He (Alaka) is wanted for the offence of Badoo cult killings in Ikorodu and Epe areas of Lagos State. He was once arrested, and released on bail; since then it has been impossible to re-arrest him. “He is 5ft 8ft tall, dark in complexion, stout in stature, no tribal marks, speaks Yoruba and English. A Yoruba by tribe, 51 years of age. Home Address – No 22, PSSDC Magodo Estate, Shangisha, Lagos State. A business man with good set of teeth, brown eyes, oval face, small head, low forehead and always on white kaftan. “If seen he should be arrested and handed over to the office of the Deputy Commissioner of Police, Musiliu Street, Yaba, Lagos or any nearest Police Station or call 08068169076 and 08125151772.�

It could be recalled that the Lagos State Government and the State Police Command had earlier uncovered and demolished the alleged Badoo shrine belonging to Alaka in Agbowa area, in Epe Local Government Area, a neighbouring community sharing common border with Ikorodu on September 20, 2017, in an operation led by the Commissioner of Police, Edgal. In a further move to bring the unwholesome activities of the gang to an abrupt end, a combined team of armed policemen led by the Lagos State CP, Edgal, and ably assisted by the RRS Commander, ACP Olatunji Disu, Chairman, Lagos State Environmental Task Force and Special Offences, SP Yinka Egbeyemi, on Tuesday, January 2, 2018, invaded and raided a shrine in Ogun State where the suspected killers use to take oath before going on the prowl. At a shrine located in Imosan, Ogun State, a lot of arrests were made. According to the police, a suspected herbalist working with the so-called Badoo cultists, Fatai Adebayo (alias Alese) was arrested. It was learnt that Adebayo, 34 years old, was accused of administering oath on members of the group before they launch any attack. He was arrested at his shrine located in Imosan Village, a suburb of Ijebu-Ode, Ogun State. The arrest of the herbalist was a followup to that of other suspects including the overall head of the group. Speaking while parading Adebayo before reporters at the shrine, Edgal disclosed that the head of the Badoo group was arrested on a river while attempting to escape. 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, “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

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FEATURES

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." However, it was further learnt that 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. Recovered at the shrine located at No 38, Ayegbami Quarters in Imosan, which was later demolished by policemen, were different charms and big stones said to be used for the illicit activities of the Badoo group. With the arrests of the egg-heads, many people believe respite seems to be on the way of the residents of Ikorodu and its environs who have for long been adorned in the garb of the fear of the unknown. Meanwhile, during the security meeting with the monarch in his palace, recently, the Edgal had sought the collaboration of stakeholders in the community to sustain the peace being enjoyed in Ikorodu and environs. He disclosed that majority of the ritual killings recorded took place within church premises, adding that in most cases, the pastors would have concluded their prayers, left before they attack vulnerable women and children. Decrying the bail granted five out of seven suspected key members of the ritual gang by the court last week, Edgal expressed worries that they could wreak havoc if checks were not put in place. To achieve that, the commissioner announced a curfew between 1a.m. and 4a.m. across the old division, urging the traditional ruler to prevail on his chiefs and youths to commence patrols and ignite bonfires to wade off the killers. “Vigilante groups should be strengthened and given the mandate to question people moving around by that time. Anyone without a good reason should be arrested and handed over to security agents. I will not tolerate jungle justice. “The bad news is that out of the seven principal suspects charged to court in connection with the ritual killings, five of them have been released from prison. They were granted bail by the court and they have gone underground. “Recently, a case of murder at Agbowa that resembles their style of ritual murder was recorded. Investigation had gone to advance stage and details would be given. “We are tracking the five major suspects and I can assure you that we would get them soon. With their release, there is need for vigilance. We must immediately restore all security measures that chased all hoodlums and criminals away from Ikorodu.� In response, the traditional ruler pledged the support of his people to the police in ensuring that the peace already achieved in Ikorodu by the CP is sustained.

With the arrests of the egg-heads, many people believe respite seems to be on the way of the residents of Ikorodu and its environs who have for long been adorned in the garb of the fear of the unknown

Lagos CP Imohinmi Edgal (1st left) with his team arrested Fatai Adebayo (alias Alese), a suspected herbalist working with the Badoo cultists

Fatai Adebayo (alias Alese), a suspected herbalist working with the Badoo cult at his notorious shrine

Fatai Adebayo (alias Alese) being paraded by the crack team of Lagos Police Command after the former's arrest

Meanwhile, the latest attack occurred shortly after the late night meeting on Saturday, November 25, 2017, the Lagos State Commissioner of Police (CP), Edgal, and the Ayangburen of Ikorodu, Oba Kabiru Shotobi, which was held at the latter's palace. The meeting which started by 10p.m. and round off at 1a.m., it was gathered, was necessitated by the resurgence of the recent ritual killings by suspected members of the Badoo gang in Ikorodu. Edgal had during the meeting, which had leaders of different religious faiths, security operatives (DSS, NSCDC, Police and Army), local vigilantes, like OPC, Onyabo, Vigilante Service of Nigeria (VSN), Lagos Neighbourhood Safety Corps (LNSC) and community leaders in attendance, sent a

warning signal to the perpetrators of the heinous crime. Among the security measures put in place to curb the menace of the cult group and ritual killings in recent times in the Ikorodu community and its environs, include the resolve to curb the security challenges within the division, community curfew to be imposed, starting with Ikorodu and this shall be between 12a.m. to 5a.m.; violators shall be handed over to the Police; all youths are enjoined to protect their areas within the ambit of the regulations guiding such activities; bon fire will commence immediately as signs of the presence of vigilante in areas concerned; families are encouraged to accommodate their loved ones over night, whose residence are in isolated

places as part of the security measures; all churches and mosques are to stop night vigil and where found to be imperative, should involve security personnel which must be put in place; and arising from this, staging of vigils without participation of such security men which eventually results in death or killing during or after any vigil, such Pastor or Imam shall be held liable; everybody in Ikorodu to be security conscious for now, especially during the yuletide; and all CDAs members are advised to call emergency meetings immediately not only to sensitise their members but more importantly to generate the data base of all neighbours within their community. within our structure as a foundation for widows and orphans to be educated,� she said.

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IMAGES

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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:Comptroller General, Nigeria Immigration Service, Alh. Mohammed Babandede; Assistant Superintendent of Immigration, Mr. Sulieman Labaran; and Comptroller General Immigration, Cross Rivers State, Mrs. Funke Adeoye, during the immigration’s awards in Abuja..recently kingsley adeboye

L-R: Online Business and Marketing Operations Officer, Cellulant Nigeria Ltd, Melone Chioma; Chief Finance Officer, Chukwuma Onyechere, receiving award of Business Man of the Year on behalf of the CEO Cellulant Nigeria Ltd, from Project Director, Trek Africa Awards and National Discourse, Oki Samson, during the fourth edition of the awards in Lagos...

L-R; Co-founder/COO of RecyclePoints, Chioma Ukonu,; Managing Director of SWM Solutions, Mrs. Tolagbe Martins and CEO of Wecyclers , Olawale Adebiyi at the Breakfast Meeting organized by Cleaner Lagos Initiative (CLI) to familiarize environmentalists with the waste management agenda of Lagos State Government, held in Lagos...recently

L-R: District Governor, Lions Clubs International District 404B1, Oyewole Oyewunmi, Executive Chairman, Ado Odo/Ota Local Government Hon. Bashur Oladele Adeniji, chairperson Diabetes Awareness Committee Ln (Dr) Juliet Jolaoluwa Opaleye,Vice Chairman Ado Odo/Ota Local Govt, Hon Ojugbele, and Secretary to the Local Govt. Hon Wale Dada, during the commemoration of the World Diabetes Day/Road Awareness Campaign/Lecture of Lions Clubs International District 404B1, held in Ota, Ogun State...recently

L-R State Minister for Education Anthony Anwuka, Chief Hammed Ibraheem, Mrs. Rebecca Ibraheem, Secretary National Universities Commission Prof. Abubakar Rasheed , during the presentation of Provisional Licences to new private Universities in Abuja....recently

L-R; Society Steward, Wesley Cathedral Olowogbowo, Lagos, Bro Adesunbo Scale; Archbishop of Lagos, Methodist Church, Nigeria, Most Revd Luke Olukayode Odubanjo and the conference Education Board Secretary, Methodist Church Nigeria, Very Revd David Oyebade at the 2018 Convenant Sunday Thanksgiving Service of the

L-R Commissioner for Housing and Special Duties, Akwa Ibom State, Mr. Akan Okon, Chairperson Technical Committee for the realisation of Ibom Deep Sea Port, Mrs. Mfon Usoro, Director, Maritime Services, Federal Ministry of Transportation Abuja, Alhaji Sani Umar Galadanchi and aacting Director-General/CEO, Infrastructure Concession Regulatory Commission Mr. Chidi Izuwah during a meeting of Ministerial Project Development Steering Committee (MPDSC) for Development of Ibom Deep Sea port in Abuja.....recently

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BUSINESSWORLD

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

Íł Ëœ Í° ÍŽ ÍŻ Íś MONEY MARKET OBB OVERNIGHT

REPO 18.33% 19%

CALL 1-MONTH 3-MONTH

17.83% 18.83% 19.83%

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

333.95% 0.71% 1.36%

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

1.36% 1.36%

EXCHANGE RATE ͹͎ͳ˚ͯ ̊ ̊

Quick Takes S’ African Airways Increases Routes

South African Airways (SAA) has commenced the operation of wide-body aircraft on its Johannesburg-Mauritius route.The Airbus A330 generation aircraft oers a two-class cabin conďŹ guration, with increased seat availability.Business class will range from 36 to 46 seats and economy class from 186 to 203. The A340-300 has 38 seats in business class and 215 in economy class.Before now, SAA serves the Johannesburg-Mauritius route with an A320, oering 24 business-class seats and 114 in economy class. A statement from the airline explained that a wide-body aircraft would now be used on seven of the nine weekly ights. SAA spokesperson, Tlali Tlali said: “Mauritius is one of our most popular destinations for both business and leisure travel in our route network, which has prompted us to add more seats on those days of the week when demand is at its highest.“The wide-body aircraftoperationsserveasreplacementofthenarrowbodycapacity and frequencies that have been adjusted on some days on the Mauritius ights in line with our objective of eďŹƒcient utilisation of our aircraft and as part of our network remediation.“The Mauritius route performance has shown steady growth and an increase in customerrequirementsovertheyearsandSAAremainscommitted to responding to travel needs of our valued customers.

THIS IS OUR FOCUS

L-R: Director, External Relations, Securities and Exchange Commission(SEC), Mr. Henry Rowlands; Coordinating Director Operations, Ms. Mary Uduk and Acting Director General, Dr. Abdul Zubair during a press briefing on the ongoing capital market initiatives in Abuja‌recently

Survey Anticipates Growth in Credit This Quarter Obinna Chima The Credit Conditions Survey Report of the Central Bank of Nigeria (CBN) for the fourth quarter of 2017 has predicted an increase in availability of credit to households and firms this quarter. According to the survey obtained on Monday, the availability of secured credit to households decreased in the fourth quarter (Q4) of 2017, but was expected to increase this quarter. Lower appetite for risk was the major factor for the decrease. It showed that lenders reported that the availability of

ECONOMY unsecured credit to households increased in Q4 2017 and the increase in availability was also expected to be sustained this quarter. Most lenders adduced increased appetite for risk to the increase. “The overall availability of credit to the corporate sector increased in Q4 2017 and was expected to increase in the next quarter. Favorable economic outlook was a major factor contributing to the increase,� it stated. Furthermore, the report

stated that demand for secured lending for house purchase increased in Q4 2017, adding that more lenders expected demand for secured lending to increase further in the this quarter. “The proportion of loan applications approved decreased despite lenders’ loosening of the credit scoring criteria. Demand for total unsecured lending from households decreased in the current quarter, and was also expected to decrease in the next quarter. “Due to lenders stance on tightening the credit scoring criteria, the proportion of approved unsecured loan

applications decreased in the current quarter, but was expected to increase in the next quarter,� it added. According to the report, secured loan performance, as measured by default rates, worsened in the review quarter. However, lenders expect lower default rates this quarter. “Total unsecured loan performance to households, as measured by default rates, deteriorated in Q4 2017 but is expected to improve in the next quarter. “Corporate loan performance Continued on page 24

2018: Experts Bullish on Banking, Consumer Goods, Others Goddy Egene As market operators and investment analysts project another rally in the equities market, they have picked Banking, Building materials, consumer goods, oil and gas as sectors that would deliver significant returns to shareholders in 2018. In their outlook for the market in 2018, analysts at FSDH Merchant Bank said it remained positive. And they said specifically favoured sectors are Banking, Building materials, consumer goods and agriculture. Similarly, analysts at WSTC Financial Services Limited, are bullish on the equities market, saying fast moving consumer goods(FMCG), industrial goods, banking, construction

CAPITAL MARKET and oil and gas are poised to benefit most. The Nigerian Stock Exchange All-Share Index (NSE ASI) closed the year 2017 at 38,243.19, representing an appreciation of 42.3 per cent. According to FSDH, the performance of market in 2017 was driven by: the increase in the price of crude oil; introduction of the Investors’ and Exporters’ (I &E) foreign exchange window leading to stability in the foreign exchange market; improved corporate earnings and the drop in the yields on the Nigerian Treasury Bills (NTBs). They said: “FSDH expects the factors that drove the

equity market in 2017 to support the market rally in 2018. We observed a strong correlation between the historical movements in the NSE ASI and the crude oil price (Bonny Light). The current consensus is that the average price of crude oil will be marginally higher in 2018 than 2017. The inflation rate should decline further in 2018. FSDH believes the expected drop in the equity market in first quarter (Q1) 2018 is an opportunity for strategic investment in the market ahead of the expected rally in second quarter (Q2). The following sectors should perform well in 2018: Banking; Building Materials; Consumer Goods and Agriculture.� In their own assessment,

WSTC said the equities market is expected to be driven by liquidity in the FX market, improving economic activities, impressive corporate performance and softer yields on fixed income securities in first half (H1) 2018. “FMCG, Industrial Goods, Banking, Construction, and Upstream Oil & Gas are poised to benefit most. Regulation constitutes a key risk to the downstream Oil & Gas industry. We expect a modest contraction in net interest margin (NIM) in the banking industry in H1 2018,� they said. WSTC noted that high oil prices, easier access to FX, and improving economic Continued on page 24

Oil & Gas Conference Holds February

The organisers of the secondWest African International Petroleum ExhibitionandConference2018(WAIPEC)haveunveiledanoverview of its programme ahead of the event which is returning from 7th to 8th February, in Lagos.Across the two-day event, the conference programme has been developed by a leading steering committee and speakers to build on the discussions of 2017 and to provide real value and insight for all delegates. Set around the theme of ‘New ventures in West Africa; driving oil and gas production through innovative strategies,’the conference would focus on unlocking strategic value, leveraging innovation, best practices and technology that will grow West Africa’s energy industry. Set to tip the scales, WAIPEC is one of the largest event in the centre of Nigeria’s oil and gas hub as well as an industry led event, held in partnership with the country’s petroleum sector and hostedbythePetroleumTechnologyAssociationofNigeria(PETAN). WAIPEC 2018 is projected to attract more than 200 exhibiting companies and 6,000 visiting professionals from across West Africa, Europe, Americas and Asia - with its programme poised to set the standards on content, delegates and industry support for all conferences in the West African petroleum sector. Speaking ahead of the event, Chairman of PETAN, Bank Anthony Okoroafor said: “Taking place at the beginning of the year, WAIPEC 2018 will set the trend and the pace for the West African oil and gas sector in 2018.�

Bayer Introduces New Packs of Claritine

Bayer Middle Africa, has introduced Claritine, the over-the-counter (OTC) allergy brand worldwide into the Nigerian market. It was launched with a campaign themed “Live Claritine Clear! Do not let cold and allergy symptoms control youâ€?.The Product Manager, Bayer Middle Africa Limited, Mrs. Ogechi Sholadoye, said Claritine is Bayer’s brand of Loratadine that oers non-drowsy relief from symptoms of cold and allergies including itching, catarrh and itchy/ teary eyes.“With Claritine, Bayer is making good its promise to deliver quality pharmaceutical support to Nigerians,â€? she stated. She also conďŹ rmed that Claritine is now available for purchase in all leading Pharmacies in the country and called on consumers to insist on packs with NAFDAC Registration number at point of purchase. Bayer is a life science company with more than 150year history and core competencies in the areas of health care and agriculture. Bayer has been improving the quality of life of people by preventing, alleviating and treating diseases, through its pharmaceutical division, and providing a reliable supply of high-quality food, feed and plant-based raw materials around the world through its crop science division.

“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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SURVEY ANTICIPATES GROWTH IN CREDIT THIS QUARTER improved across all firm sized business in the current quarter, except for small businesses. Lenders generally expect lower default in the current quarter. “Lenders reported that the overall spreads on secured lending rates on approved new loans to households relative to MPR widened in Q4 2017, and was expected to remain widened in the next quarter,� it added. The spreads on overall unsecured lending narrowed in Q4 2017 and were expected to remain narrow in the next quarter. Part of the CBN’s mandate is to nurture an efficient monetary and financial system in order to promote macroeconomic stability in Nigeria. To achieve this, the Bank needs to, among others, understand trends and developments in credit conditions. In carrying out the survey of bank lenders, the survey covered secured and unsecured lending to households, lending to non-financial corporations, small businesses and non-bank financial firms. Continuing, the report stated that despite lenders’ loosening of the credit scoring criteria in Q4 2017, the proportion of loan applications approved in the quarter decreased. 2018: EXPERTS BULLISH ON BANKING, CONSUMER GOODS, OTHERS activities should strengthen asset quality and enhance modest credit growth. �Healthier consumer spending will be supported by declining inflation & election-induced public spending. Stability in FX and declining inflation are expected to support lower input and operating costs. Thus, we expect healthier margins from companies in these sectors. However, we reckon that a resurgence of tighter liquidity in the FX market and heightened election-related uncertainties in the year may dampen overall market performance in H2 2018,� they said.

Group Business Editor

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

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ 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

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (Maritime)

PenCom Clears 20,529 Firms for FG Contracts Between 2012 and 2018 Ebere Nwoji The National Pension Commission (PenCom) issued compliance certificates to a total of 20,529 companies operating in Nigeria to bid for federal government contracts. Compliance certificates were issued from December 2012 January 3, 2018. The Pension Reform Act 2014, requires that employers who wish to solicit for federal government contract or who wish to do business with any federal government Ministry, Department or Agency (MDAs) must provide proof of compliance with PRA 2014 in respect of remittance of deducted pension funds to workers’ Retirement Savings Accounts. A breakdown of the clearance certificates issued by the commission in the period under review, shows that the commission, issued the least number of compliance certificate in the year 2012 with a total number of 559 firms clinching the certificates. The year 2016 witnessed the issuance of highest number of clearance certificates by the commission as a total number of 9, 077 firms were certified to bid for federal government contracts by the commission. This was followed by 2017 during which it certified 3,850 firms and 2015 when it issued 3,619 certificates. In 2014, PenCom cleared 2,178 firms, in 2013, 1,163 firms were cleared

for federal government contracts while this year, as at January 3, 2018, the commission has so far issued a total of 83 compliance certificates to 83 firms. The certified firms according to the commission are those who complied with the provisions of the PRA 2014 with regard to submission of evidence of remittance of contributions of their employees to their Retirement Savings Accounts (RSA) as well as evidence of valid group life insurance policy. The commission had recently

issued a general notice to remind employers who wish to bid or solicit for contract or business from any federal government MDAs, of the requirement to provide proof of compliance with the provisions of the Pension Reform Act, 2014 (PRA 2014). In the notice, the commission had insisted that only Pension Clearance Certificate (PCC) issued by PenCom will serve as proof of compliance with the provisions of PRA 2014. It enjoined federal government MDAs to ensure that all

bids tendered by intending organisations for contracts are accompanied by PenCom compliance certificates(PCC) “In view of the above, all federal government MDAs have been mandated to ensure that all bids tendered by organisations are accompanied by PCC, organisations who wish to obtain the annual PCC are required to forward their applications to PenCom headquarters in Abuja, or any of its six (6) zonal offices nationwide,� the commission stated. The commission noted

that MDAs often times accept spurious evidence of compliance from contractors and are reluctant in ensuring that companies bidding for works fulfill their obligations relating to pensions as enunciated in the Public Procurement Act 2007. It further urged MDAs to demand for the compliance certificate as a requirement for transacting any business with a private sector organisations adding that appropriate circulars have been issued to all MDAs in that regard.

PROMOTING INVESTMENT

L--R: Managing Director/CEO, Prudential Trust Company Limited, Nnamdi Anammah; High Commissioner Permanent Representative to ECOWAS, British High Commission, Paul Arkwright; Advisory Board Member, Commonwealth Enterprise and Investment Council (CWEIC), Peter Obi; CEO, CWEIC, Richard Burge; Country Head (Nigeria), CWEIC, Obinna Anyanwu, at a ceremony in Lagos‌recently

225,000 Farmers to Reap from NIRSAL’s New Field Structure Ndubuisi Francis in Abuja The Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) is deploying an innovative nationwide field structure to support 225,000 farmers under the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN). The initiative is part of the agency’s drive to take business-driven agriculture to the grassroots. The structure, known as Project Monitoring Reporting and Remediation Office (PMRO), has units located in each state of the federation and the Federal Capital Territory (FCT), Abuja.

The PMROs are designed to support NIRSAL’s core mandate of making agriculture more attractive for private sector investment by de-risking the agricultural value chain. Among other functions, they will provide rigorous monitoring and supervision of NIRSALfacilitated agriculture projects to improve successful outcomes. NIRSAL, which was appointed by the CBN as an implementation partner in the Anchor Borrowers Programme, is deploying the PMROs to support an initial number of about 225,000 farmers throughout the country under the programme. The 225,000 farmers being supported include a minimum of 5,000 farmers in

37 locations in 36 states and the FCT. Speaking on the development, Managing Director/CEO of NIRSAL, Mr. Aliyu Abbati Abdulhameed explained that the PMROs will play an important supportive role because NIRSAL runs a lean operation at its corporate headquarters. According to Abdulhameed, “The PMRO structure is very critical to our operations. Agriculture is a field business. They would act as our eyes to ensure that agricultural projects that we facilitate finance for are executed in line with agreed terms and also serve to extend the reach of our interventions�. He added that the PMROs

will also have the responsibility of capturing the impact of NIRSAL’s interventions on communities, individual farmers and other players along the agricultural value chain. “The positive impact made is the justification for our existence so it’s critical to constantly measure and review the impact of our interventions.� The function of the PMRO office in each state is to generate new projects where necessary, supervise existing ones and mobilize the community to support and own as well as enjoy the positive impact of NIRSAL projects. In line with NIRSAL’s focus on business-driven agriculture,

the PMROs are led by highly experienced private sector professionals and will deploy private-sector orientation and strategies to drive the projects along agribusiness lines. They will also assist the banks to properly package those projects so that they become bankable. In his remarks, the National Coordinating Consultant overseeing the PMRO, Dr. Steven Ogidan noted that the structure believes that “the closeness of the PMROs to project sites and the embedding of project monitoring services within the project sites of any project that is more than 500m ensures effective monitoring and reduces the risk of loan diversion�

Balogun now Chairman as Legacy Pension Managers Reorganises Board Following the acquisition of majority share 60 per cent of the Legacy Pensions by the FCMB Group recently, the new owners have reorganized the board of the pension fund administration. This has witnessed the appointment of Mr Ladi Balogun as the chairman of the company’s board and Mr. James Ilori as non-executive director . A statement from the PFA, said this has received the approval of the National Pension Commission.

Balogun, was until March last year the Chief Executive Officer of First City Monument Bank (the retail and commercial banking subsidiary of FCMB Group). He has over 23 years’ experience in the financial services industries in Europe, the United States of America and Africa. Balogun also holds a Bachelor’s degree in Economics from the University of East Anglia, United Kingdom and a Masters in Business Administration (MBA) from Harvard Business School, United States

of America. His appointment in 2007 as the Managing Director of First City Monument Bank Limited saw the transformation of FCMB from an investment bank to a prominent mid-tier Nigerian commercial bank and financial services group. Balogun serves on the board of several FCMB Group companies and chairs the board of Credit Direct Limited.Mr. Balogun also serves as Chairman of Tenet Investment Company, a private equity investment

firm, focused on the food and agri-business value chain in West Africa. On the other hand, Ilori has vast experience in research, business development, risk management, and all areas of the investment decisionmaking process acquired from leading organisations in Nigeria and the United Kingdom. Before his appointment as the Chief Executive Officer of First City Asset Management (FCAM) in 2014, he worked as a fixed income fund manager with

Crown Agents Investment Management in the United Kingdom. Ilori, who is a CFA charter holder, has successfully propelled FCAM to become a top-rated wealth management company. It provides services that cut-across collective investment schemes such as mutual funds and investment plans predominantly for retail investors, as well as specialised discretionary portfolio management, for high net-worth individuals and institutional investors, within and outside Nigeria.

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BUSINESSWORLD

NEWS

Why Nigeria is Low on Petrol Nigeria, Africa’s biggest oil producer and a member of Organisation of Petroleum Exporting Countries(OPEC) has suffered fuel shortages over the past few weeks. They complicated transport and hurt economic activity and, in the words of President Muhammadu Buhari, ensured that for many Nigerians the Christmas holidays were “anything but merry and happy.� His administration had said it was working overtime to end the queues that have formed at gasoline stations throughout much of the country. Nigeria is about the only major African economy to experience frequent fuel scarcities. According to Bloomberg, part of the problem is that, despite pumping 1.8 million barrels a day of crude, Nigeria has to import almost all its fuel because of the decrepit state of its refineries. But in that, it isn’t alone: Most countries in Africa lack refineries. A bigger problem is that Nigeria caps gasoline prices, often at levels below retailers’ costs. The cap today is set at N145, or $0.40, a liter, which would translate to $1.52 per gallon. That makes the West African nation one of the 10 cheapest places in the world to buy petrol and compares to a global average of $1.12 and a United States average of $0.73 per liter, according

to GlobalPetrolPrices.com. They could when the current cap was set, in May 2016. Back then, Brent crude traded at less than $50 a barrel. It’s since risen about 40 percent, to $68, which has made it more expensive for retailers to buy refined fuel. Neither does it help that Nigeria bases the cap on its official exchange rate of 305 naira per dollar, which few retailers can access, given that the market rate is almost 20 percent weaker at 360. Many have stopped importing, leaving that job almost entirely in the hands of the state oil company, the Nigerian National Petroleum Corp., a task it is struggling with and was never designed to do on suc h a scale. The Group Managing Director, NNPC, Maikanti Baru and other Nigerian officials including Minister of State for Petroleum Resources, Emmanuel Kachikwu, said they were clamping down on anyone hoarding fuel or selling it above sanctioned prices. They have ramped up the amount of petrol sent to depots across the country and called for Nigerians to cease panic buying. They have said the shortages will be over soon and that increased demand in the run-up to Christmas was to blame. But one thing they and Buhari are adamant about is that prices won’t be increased. Queues at service stations have eased in Lagos,

the main commercial hub, and Abuja, the capital. But the shortages are still severe in many other cities, including Kano in the north. Fuel prices are a hugely sensitive issue in Nigeria. Given the poor state of schools and hospitals, many citizens feel that cheap fuel is about the only benefit they get from their government. When Goodluck Jonathan, Buhari’s predecessor, tried to end subsidies and hike prices in 2012, nationwide protests crippled the country, forcing him to backtrack. Buhari, 75, who won elections in 2015 by appealing to Nigeria’s poor masses, increased prices the following year only after weeks of shortages forced his hand. He will be loathe to do it again, especially with elections coming up in early 2019 and his popularity already dented by a weak economy and rising unemployment. Previous fuel crises were bad enough to hit gross domestic product. A bigger impact might be on inflation, given the resulting increase in transport prices. Buhari’s team met with officials on January 2, to figure out a long-term plan to prevent any future shortages, but he’s unlikely to find solutions in the absence of allowing fuel prices to rise -- at least until current efforts to revamp old refineries and investments in new ones start paying off.

Atlanta Fed President Calls for Slow Tightening The United States central bank should be patient as it raises interest rates this year, said Federal Reserve Bank of Atlanta President, Raphael Bostic, adding his voice to other dovish comments from officials concerned by low inflation and the risk of an inverted yield curve. “I am comfortable continuing with a slow removal of policy accommodation,’’ Bostic, who votes on policy this year for the first time in his Fed career, was quoted to have said by Bloomberg on Monday in Atlanta. “However, I would caution that that doesn’t necessarily mean as many as three or four moves per year.’’ Fed officials have pencilled in three 2018 rate hikes, according to their latest median projections, after upgrading growth forecasts for the year following a $1.5 trillion tax cut signed into law by President Donald Trump on December 22. Whether to accommodate this fiscal stimulus or lean against it by raising rates faster will be a key test for Fed Governor Jerome Powell, who was picked to replace Janet Yellen when her term as Fed chair ends next month. Bostic, in his most dovish speech since taking the helm

at the Atlanta Fed in June, said he only expected a modest bounce to growth from the tax measures. He later told reporters his base case for Fed hikes this year was “two to three, with the idea that data is going to come in to really inform how aggressively we can be moving our policy.� Philadelphia Fed chief, Patrick Harker, had said on January 5, that he favored raising rates only twice this year while his St. Louis Fed colleague, James Bullard, indicated in a January 4 interview on Bloomberg Television that he preferred to keep rates on hold. Fed officials are looking for clues about the strength of underlying inflation in the US and continuing to debate why price gains are so low, even with unemployment at 4.1 percent last month, the lowest level since 2000. Bostic made clear that he was watching weak price pressures, which he said could be eroding the public’s confidence in the Fed’s ability to reach its 2 percent inflation target -- a goal it has missed for most of the past five years. “My main concern is that inflation expectations risk becoming anchored below

2 percent,’’ he said. “‘If this happened, it would be increasingly difficult for the Fed to hit our 2 percent target.’’ He also echoed other recent comments from Fed officials in pointing to the flattening yield curve as a potential risk. The spread between two-year and 10-year Treasury notes has collapsed to the narrowest since 2007. Bostic said he would “do all I can to make sure our policy doesn’t invert the yield curve explicitly.� Delivering an annual forecast to the Atlanta Rotary Club, Bostic said he expects moderate growth this year, aided by a small boost from the recent tax overhaul, as well as a pickup in housing, investment spending and strong consumer spending. The labor market is likely to continue to tighten and it’s been puzzling that wages haven’t shown a larger pickup, he said. “I’m marking in a positive, but modest, boost to my near-term GDP growth profile for the coming year,� Bostic said. “For now, I am treating a more substantial breakout of tax-reform-related growth as an upside risk to my outlook,� he added.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Why Do We Have to Suffer So Much? As I start to write this column today, a television set is on in the background and what I hear on Channels Television is a story on the Benue killings. An ex-Military man now a security expert invited as a pundit for the program, starts by begging the President to help with the Benue situation before moving on to expressing anger at the lack of attention being given to the issue of killings by Fulani herd’s men. After his commentary, a senior clergy man comes on to also beg again. My question is, why do we have to beg for what is obvious? Why are we meant to suffer so much as a people? Why do simple things with no complexity become very difficult to tackle? It’s crazy and people are dying slowly every day because of these seeming simple challenges. Many examples abound. Let’s start from the airport. I traveled in December, came back and learnt we now had to take our luggage to the car park which is via a very unfriendly and crowded walkway. The walkway is rickety, not properly cemented or tiled, so navigating it is challenging. Many people who have no business being there clog the walkway and there is a big gap between the walkway and the car park with no covering. The question I asked was, if it rains, how will travelers be protected? This is because there is no way, they would not be exposed to the elements. Of course, I got no answer and the matter has still not been addressed. The car park is also not managed efficiently. After parking, you have to go into the excruciating task of queuing up to pay for parking. I am sure you would have been able to create an image of how stressful this whole situation will be for a traveler just coming into the country after also going through the chaotic immigration process, where our infrastructure is grossly inadequate for the number of travelers who come into this country. So, that’s our welcome to Nigeria. When I compare this situation to the countries around us, which I have been privileged to visit in the past few months I cringe and shake my head. The airport in Dakar is akin to any first world airport, same with Abidjan and others. These are countries that are not as affluent as us and are mainly agrarian, but they have been able to make agriculture viable and used its proceeds to build their infrastructure. We leave the airport and get to the roads, and the surrounding infrastructure. An apologetic situation! Why is it that government and all stakeholders involved are not paying more than lip service to

Examples of how much we suffer are too numerous for my page to accommodate. My prayer is that this situation changes for the better in 2018 and beyond. We need to elect the right people to govern and straighten the numerous problems we have in this country

infrastructure development in this country, knowing that achieving human capital development is crucial to the growth of a country’s economy? The lack of these basic infrastructural requirements is shortening the lives of Nigerians. Today, the US, with its advanced infrastructure is agitating for an upgrade of its infrastructure. This was one of Trump’s campaign promises and he is doing everything to ensure that he gets funding from Congress to implement this promise. Now, this is a country with very good infrastructure, clamouring to improve on what it already has. I guess, they strongly believe in John F. Kennedy’s saying, about the crucial role infrastructure plays. John F. Kennedy said, “America has good roads, not because America is rich, but America is rich because it has good roads.� According to the World Bank, every 1% of government funds spent on infrastructure leads to an equivalent 1% increase in Gross Domestic Product (GDP), in Nigeria, there is no meaningful correlation between infrastructure development and economic growth. Why we cannot achieve this, even with the various funds like the Sovereign Wealth Fund government has set up is sad. It seems the Yuletide season has been designated a time to suffer now in Nigeria. This past Christmas was especially harrowing. We had no power, no fuel, most houses with no power and fuel, had no water because we generate our power and pump our own water for domestic use. I am not sure I have been to any country where the situation described above is the norm. But in Nigeria, we have learnt to accept this anomaly as normal. However, this situation that is an anomaly in almost every country became even worse. In addition to the no light, no water, no fuel situation, we had no access to cash. The CBN says we should go cashless; banks encourage you to use ATMs and advise or discourage you from visiting their branches. It is evident that not sufficient homework was done in planning to ensure their networks were in good working condition and had cash readily available on a real time basis in their ATM machines. People had to stand in long queues and switch from one ATM to another without any guaranty that they would not go through the same disappointment they just encountered. This created a lot of frustration. Many people had to go without cash after queuing up for hours at ATM machines. Stocking up for Christmas, which can be a heavy spending activity for most families or individuals was a harrowing experience because POS machines were not working. Just yesterday, a friend told me Virgin Atlantic delayed flights for 28 hours without a plausible explanation except that it was due to operational issues. The question I ask is, would Virgin Atlantic give the same response if this situation happened in the UK or the US? Maybe this explanation was given because this is Nigeria and we are used to suffering. Examples of how much we suffer are too numerous for my page to accommodate. My prayer is that this situation changes for the better in 2018 and beyond. We need to elect the right people to govern and straighten the numerous problems we have in this country. We cannot afford to continue like this! !

.– 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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Going Green The successful raising of N10.7 billion from the debut Sovereign Green Bond is another commendable feat by Debt Management Office and a show of investors’ confidence, writes Goddy Egene

Osi nbajo

The federal government’s Economic Recovery and Growth Plan (ERGP) has been seen as capable of repositioning Nigeria to its deserved position as a leading force in Africa and world at large. However, like some other policies of government that were well crafted but failed due to lack of implementation, some analysts are apprehensive of two major threats to the ERGP. The apprehensions are around funding and implementation. However, the financial managers of government resources have started to address the funding side of the programme. One of the sources identified to fund the programme is the tapping into the Green Bonds market. Being a new area, the task of ensuring a successful outing rested on the Debt Management Office (DMO). But employing its expertise to work with other stakeholders, the DMO ensured that debut Green Bond, which was issued in December, was successfully completed. Despite the fact that issue was made in a period where most investors should be closing their books for the year, the N10.69 billion bond was enthusiastically received. This successful outing, according to stakeholders, attest to the high confidence in investors have in the management of DMO led by the director general, Patience Oniha and the Nigerian economy. Federal Government Explains Before the issuance of the bond, the federal government had to explain the specifically what the proceeds would be used for. This was important given the fact there have been cases of funds diversion in the past. And at the Green Bond Conference organised in Lagos by Federal Ministry of the Environment, Federal Ministry of Finance and DMO, Vice President, Prof. Yemi Osinbajo said the bond would support the federal government’s shift to non-oil base assets for project financing for economic growth and development. According to him, the proceeds of the bond would be used for environmental projects such as renewable energy micro-utilities in three communities estimated at N10 billion and would provide an average of 33KW of

Oniha

power through solar technology. He noted that the environment finance was very important for environmental projects, noting that the Green Bond would address climate change and environmental projects to ensure sustainable development. Osinbajo, who described the initiative as a new addition to the market funding portfolio, added that the proceeds would be used by Nigeria to fight climate change. He said that climate change had led to increase in natural disasters thereby affecting food, water and energy supply, thereby increasing poverty level of populace. Also speaking at the conference, the then Minister of Environment, Mrs. Amina Mohammed, said government’s identifies the Green Bonds as one of the alternative sources of financing. “Government is ready and committed to diversifying the economy, creating Jobs, improving security and improving quality of life. Green Bonds provides a new product with new credentials that investors can buy into which has gone through a vigorous process to ensure transparency, accountable use of funds and is environmentally friendly,� she said. The minister called on the domestic capital markets to rally round the issuances. “Our domestic market need to rally around our own domestic issuances. The recently issued Euro Bonds are a testament to us that the Nigerian Market is still viable. So, let’s translate that to domestic issuances. Greening our economy and financial systems will in the long run support our sustainability efforts and improve the economy as it will open new avenues for new types of jobs, innovation and skill,� she added. Stakeholders Optimistic Right from the beginning, most stakeholders were optimistic that the bid by the federal government to raise funds through Green Bonds issuance would be successful given the high demand for the instrument by investors globally, the management of DMO and confidence in the current administration. For instance, the Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema said oversubscription in Green Bond issuance is commonplace, meaning that

the planned issuance by Nigeria will record significant patronage. According to him, assets under management by signatories to United Nations-supported Principles for Responsible Investment (Green Investment) rose from $4 trillion in 2006 to $60 trillion in 2015. Besides, he said assets managed by institutional investors in the Organisation for the Economic Cooperation and Development (OECD) countries are projected to hit $120 trillion in 2019. This, Onyema explained, are signals of a vibrant green bonds market that Nigeria will benefit from. Another first for DMO Succeeding with the debt Green Bond has been described as another first recorded by DMO. According to DMO, the Green Bond was very well received by a wide range of investors. The agency said that at the close of the offer, the total subscription received was N10.791 billion compared to the N10.69 billion offered. “Among the investors who subscribed to the Green Bond were banks, pension funds, asset managers and retail investors,� the debt agency said. The DMO had offered N10.69 billion Sovereign Green Bond for a tenor of five years and coupon of 13.48 per cent per annum. “The DMO is pleased with the strong interest shown by investors. It shows investors’ interest in new products and support for the objective behind the issuance of b ond which is to invest in projects that will contribute to preserving the environment. It also shows support for the Paris Agreement on the Climate, which Nigeria has endorsed,� it said. The green bond which was rated ‘Excellent’ by Moody’s, was issued as part of the federal government’s new domestic borrowing in the 2017 Appropriation Act to finance three Projects. The projects are: Energising Education Programme, Renewable Energy Micro Utilities and Afforestation Programme. The DMO expressed its commitment to providing products that meet the needs of

investors for their portfolio preferences and to continue to promote financial inclusion. Having succeeded with the debut issue, the market has not been established for subsequent issuances. Oniha had disclosed that the government was working through the Federal Ministry of Environment and other stakeholders to introduce Green Bond to support the private sector who may also want to issue the product to support financial inclusion. She said that DMO was not only to borrow but also supports the development of the market. She said that the bond issuance benefits were huge which ranges from poverty alleviation, job creations, economic benefits and environmental benefits. According to her, the Green Bond could be issued by corporates and not only government, noting that capital market regulators were open to new products and would be eager to issue separate guidelines that would allow corporates to issue green bond. The DMO boss further allayed fears of possible defaults as the projects are not meant to service the debts, rather the federal government will retire the debts from the budget appropriation. She said: “This Green Bond is risk free and is like any other bonds issued by the federal government. It is captured in the federal government budget and will be retired by the government. So, the projects to be financed from the proceeds of the bond are not expected to generate revenue but are expected to have multiple effects to the people and economy.� She explained that the outlook looks brighter for Nigeria as the country has come out recession and external reserve is also on the increase, which, she said would help boost the stability of our currency with increase in foreign investor confidence. Oniha emphasized that the DMO strategy is to continuously restructure the federal government’s debt portfolio to replace short tenured bonds with long tenor and high rates with lower rates. Before the issuance of the Green Bond, the DMO had succeeded in issuing the first $300 million Diaspora Bond and first Eurobond that has 30 years tenure.

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Nigeria’s Shadow Economy Organising the informal sector and harnessing its massive potential will significantly enhance government’s non-oil revenue drive, writes Obinna Chima With the rising level of unemployment in the formal sector, the number of those seeking for opportunities in the informal sector has continued to swell. In its latest report, the National Bureau of Statistics (NBS) revealed that the country’s unemployment rate rose from 14.2 per cent to 18.8 per cent in 2017. According to the NBS, the total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in the second quarter 2017 to 51.1 million in third quarters. It also stated that the unemployment rate increased from 14.2 per cent in the fourth quarter 2016 to 16.2 per cent in second quarter 2017 and 18.8 per cent in the third quarter, 2017. This increases the number of those in the informal sector. The sector, which is also referred to as ‘grey economy’ is the part of an economy that is neither taxed, nor monitored by any form of government. Unlike the formal economy, activities of the informal economy are not included in the gross national product (GNP) and GDP of a country. In fact, the International Monetary Fund (IMF) recently pointed out that unregistered household enterprises comprise a significant portion of Nigeria’s economy, accounting for as high as 65 per cent of the country’s Gross Domestic Product (GDP). The fund noted that by 2035, sub-Saharan Africa will have more working-age people than the rest of the world’s regions combined with pressure on governments to provide jobs for them. According to the IMF, in sub-Saharan African, up to 90 per cent of jobs outside agriculture are in the informal sector, including household enterprises that are not formally registered, like street vendors or domestic workers as well as off-the-book activities by registered firms—for example, the taxi driver that offers a discount if the meter is not turned on. “The informal economy in sub-Saharan Africa is the second-largest in the world, after Latin America and the Caribbean. From 2010 to 2014, sub-Saharan Africa’s informal economy accounted for 38 percent of GDP to the region,� the IMF said. “Household survey data suggest that people working in the informal sector consume more goods and services than those in the agricultural sector in many countries,� the fund stated. Indeed, the informal sector generally is characterised by absence of official protection and recognition, non-coverage by minimum wage legislation and social security system, predominance of own-account and self-employment work, absence of trade union organisation, low income and wages, little job security as well as the absence of fringe benefits from institutional sources. The informal sector represents an important part of the economy, and particularly of the labour market, in many countries, especially developing countries, and plays a major role in employment creation, production and income generation. Clearly, in countries with high rates of population growth such as Nigeria, the informal sector tends to absorb most of the growing labour force in the urban areas. Informal sector employment is a necessary survival strategy in countries that lack social safety nets such as unemployment insurance, or where wages and pensions are too low to cover the cost of living. According to the Africa Development Bank (AfDB), the prominence of the informal sector stems from the opportunities it offers to the most vulnerable populations such as the poorest, women and youth. Even though the informal sector is an opportunity for generating reasonable incomes for many people, most informal workers are without secure income, employments benefits and social protection, the multilateral institution noted.

This explains why informality often overlaps with poverty. For instance, in countries where informality is decreasing, the number of working poor is also decreasing and vice versa. Beyond poverty and social issues, the prevalence of informal activities is closely related to an environment characterised by weaknesses in three institutional areas, namely - taxation, regulation and private property rights. Higher taxes and complicated fiscal process may prevent informal sector operators from formalising their activities. Long requirements for registration as well as licensing and inspection requirements are also barriers faced by the informal sector. Moreover, limited access to capital is an important constraint for operators working in the informal sector. Lack of skills, education and training are also impediments to the formal sector in Africa. Other factors include the limited access to technology and poor infrastructure. Furthermore, the informal sector doesn’t seem to be on the development agenda of African countries or their multilateral development partners. Link between the Formal and Informal Economies A report by Phillips Consulting stated that the relationship between the formal and informal economies has generally been regarded from two opposing viewpoints: dualism and structuralism. It explained that the dualists believe that both economies operate independently of each other and have very few linkages, with the informal economy being the ‘lesser’ of the two. On the other hand, structuralists regard the two economies as being fundamentally linked. “Indeed, the formal and informal economies are linked, with the informal economy often trading with, and providing goods and services for the formal sector. In fact, many formal establishments hire employees under informal circumstances. “For example, large manufacturing firms may subcontract certain parts of a manufacturing process to outside hires, some of whom may be located in other countries. These sub-contractors, although working for a formal organisation, may be operating in the informal economy, due to the fact that these workers may not be afforded the employment benefits that formal employees enjoy.

“In some cases, this informal connection may even be illegal. This is evidenced by the use of sweatshops by some large corporate organisations, where employees are made to work in socially unacceptable conditions for long hours, and provided with salaries below the minimum wage,� it added. However, the report noted that the informal economy is poorly regulated and so workers are often able to increase their take-home earnings by avoiding taxation and social contributions. It is also common for entrepreneurs in the sector to seek to reduce costs associated with wages and social benefits. Due to the non-payment of taxes by some of these enterprises, there are fewer funds available for the government to improve infrastructure, and provide other public goods and services in the sector. Harnessing Opportunities A former Deputy Governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu argued that formalising the informal sector would help accelerate revenue from taxation in the country. He explained: “If you look at Nigeria today, you find that the penetration of mobile telephones is very high, about 140 million lines out of 180 million people. You also find that the informal economy is huge in Nigeria – 65 per cent of our GDP according to the IMF. “But, what is the effort that is being made to bring the informal economy into the formal economy? It is when you bring the informal economy into the formal economy that you can generate massive amounts of tax revenue. “Now, how do you bring the informal economy into the formal economy? The path to achieving that runs through the mobile telephone. If the government were to follow mobile telephone ownership in Nigeria, they would get to nearly every Nigerian. “If you get to every Nigerian whose simcard is registered, then you do a tax audit of that individual. If you are not paying tax, why not? What is the arrangement that can be set up now so you can pay taxes? Even if you are a street hawker and you have a mobile phone that is registered, why would you not pay tax to the state? Also, the President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, said formalising the informal sector would help promote financial inclusion, allow for effective transmission of monetary

policy as well as boost government’s revenue generation capacity. “The financial inclusion programme is to make operators in the informal sector to be able to access the financial system and also enables them to be able to access some of the intervention funds in the country. “The reason why microfinance banks were set up was to help those who are in the informal sector to also have access to funding and necessary support to operate. You know there rules and regulations in this country that also encourage co-operatives society. If properly structured, those in the informal sector can take advantage of the opportunities to access certain facilities. “We also need to still study the kind of models they have in countries such as Malaysia, Singapore, Indonesia, South Korea and even India, where operators in the informal sector are contributing significantly to the GDP of their nations. So, we need to study how they have operated their models successfully to make impact in their economies,� the CIBN president added. But the Chief Executive Officer of Proshare Nigeria Limited, Mr. Femi Awoyemi, held the belief that over 75 per cent of Nigeria’s population operate in the informal sector. According to him, corruption has also been a major source of funding for the informal sector. Awoyemi said: “Whenever we draw our budget and we don’t take that sector into consideration, then we are missing the point. Formalising the informal sector is not just what government needs to do, it is the only thing they need to do because that is almost the whole economy of Nigeria we are talking about.� Therefore, the formalisation process for informal sector operators should be a key area for consideration for governments at all level. In fact, many informal sector operators are afraid of formalising their businesses because of the perception that it comes with additional cost and obligation. This, therefore requires proper enlightenment from the government as to the benefits these set of operators stand to benefit. Thus, policies to reduce taxes for small businesses, and make the formal registration process faster and easier should be promoted. In addition, organising the informal sector operators would help the central bank in its financial inclusion drive as well as its cashless policy.

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BUSINESSWORLD

ANALYSIS

Expectations from Insurance Sector As operators in various sectors of the economy kick-off activities in the new business year, Ebere Nwoji writes on what Nigerians expect from insurance operators

The insurance sector, like every other sector of the economy in the year 2017, was faced by many challenges that resulted from the lingering effects of the economic recession. The recession stagnated businesses and eroded the purchasing power of the masses thereby slowing down their demand for insurance products. Against this backdrop, the industry operators could not achieve most of the goals they set for themselves For insurance, the Commissioner for Insurance, Mohammed Kari, could only achieve implementation of at least two out of the six compulsory insurances slated for enforcement since 2009. He has, however, vowed to achieve the implementation these insurances this year. Also, the regulator, in collaboration with the industry operators, was also unable to deepen insurance penetration to the level that would shore up the industry’s premium generation from N400 billion to their projected tune of N1.1 Trillion by the year 2017. Similarly, their dream of ensuring that the industry contributes meaningfully to the Gross Domestic Product (GDP) of the economy from the present contribution of less than one per cent to at least three per cent was far from being achieved. Indeed recent response by the industry leaders on the present level of the scoter’s contribution to the GDP shows that even key operators in the industry are currently not certain about the sector’s actual contribution to the national GDP. The last figure given in this regard was from the immediate past Commissioner for Insurance Mr. Fola Daniel, who said the industry ‘s contribution to the GDP stood at 0.6 per cent but later reduced to 0.3 percent after the rebasing of the economy. Recent statistics on the growth of the sector released last December by the National Bureau of Statistics (NBS) shows that the

industry, during the third quarter of 2017 merely grew by 0.3 per cent. Similarly, recent financial reports of operating firms for 2016, published by the National Insurance Commission (NAICOM) shows that about 12 insurance firms are currently facing financial challenges to the extent that if the managers fail to work hard this year, they will see themselves placed under the regulator and its interim managers’ supervision and management. Closely connected to this is the fact that a number of weak firms in the system placed under the management of interim managers for the purpose of resuscitating and returning them to financial stability and hand over to their owners, have for years now remained dormant. The interim managers seem to be very comfortable with their new jobs while the

The Nigeria Insurers Association (NIA), in collaboration with NAICOM, should reawaken their strength and arm themselves with the necessary tools that will ensure that their members and those they regulate pay claims with little or no stress

shareholders have remained at the receiving end of losses from their invested funds. Against this back drop, the insuring public, investors and other stakeholders in the industry are watching keenly what operators have for them in the new business year. Having successfully come out of lingering effects of the recession that hit the country two years back , the stakeholders’ expectations from the industry are high. For instance, the investors have waited for too long to reap from their investments and eager to see results. This being the case, all arms of the industry are expected to work together and raise the industry’s banner higher than it has been so that the public will see the need to patronise the industry and as such make it contribute significantly to the economy. As already envisaged by the industry operators, awareness creation is key in this regard, as such, the operators should not relent in their bid to make the industry’s rebranding project work. They should surmount all impediments to its take-off and place insurance at the front burner of both private and public sector businesses through the rebranding initiative. The industry’s ‘catch them young’ slogan should be put into action especially by the Chartered Insurance Institute of Nigeria(CIIN), the educational arm of the industry. To this effect, in addition to distribution of insurance text books to government senior secondary schools in the country and tertiary institutions, the inclusion of insurance as subject of study in government secondary schools and establishment of insurance departments in tertiary institutions, which the institute is already doing should be extended to private schools and to junior secondary to give the students adequate knowledge of insurance from junior level and prepare them to choose it as a subject of study in their Senior school certificate examinations. The institute should set up monitoring

and evaluation team that will follow up on the previous efforts made and additional efforts needed to achieve its goals. It needs to obtain data on number of students that write insurance in West African Examinations and it also needs to extend insurance to other examination bodies like NECO and General Certificate in Examinations (GCE). By its establishment, the institute is the educational arm of the industry. Therefore, it should in line with the promise of one of its past presidents, Mr A A Lawal, who said the institute plays a key role in insurance education to Nigerian masses. It should realise the fact that part of the problem of the industry is most people are ignorance of what insurance is and its numerous benefits. Currently, insurance teaching in most senior secondary schools in the country is still in principle and not in practice and is limited to public schools with exclusion of private schools. CIIN should push further to see that insurance teaching is practically done in both public and private schools in Nigeria . However, the various arms of the industry should give financial support to the institute in this regard bearing in mind that its mass education activities across the country is for the good of the entire industry because as more insurance policies are sold, brokers will collect more commission while adjusters will have more claims to adjust in time of loss. So in addition to NAICOM’s financial support to the institute for its mass education programmes, other arms of the industry should contribute their own quota. Aside awareness creation, the issue of maintaining high ethical and professional standards in business conduct is of importance as this will ensure that adequate premiums are charged in each business transaction and claims paid timely without stressing the customer. Continued on page 29

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ANALYSIS

2017: CHALLENGING YEAR FOR INSURANCE SECTOR The Nigerian insuring public is still waiting to see in Nigeria insurance practitioners that willingly and responsibly pay claims when they come without delay, stress or argument. Various complaints from the public show that operators who pay claims willingly are still very few in Nigeria. Until the few Nigerians who currently buy insurance enjoy stress -free claims payment in its practical reality, those who jettison insurance services will remain in their positions because they get discouraged by the experience of their friends who struggle to get claims from insurance operators. The Nigeria Insurers Association (NIA), in collaboration with NAICOM, should reawaken their strength and arm themselves with the necessary tools that will ensure that their members and those they regulate pay claims with little or no stress. They should ensure that operators charge adequately and pay claims as and when due. Available information from marketers show that some company marketers charge as low as N1000 on third party motor insurance despite the Nigeria Insurance Industry Data Base(NIID) and this explains why claims on this policy is often not paid. Such firms hide behind the fact that the insuring public is not aware that claim on third party motor insurance is payable and when it occurs they take advantage of ignorance of the victim to deny him of the claims. The above two bodies should create awareness on the need for the public to pay the right premium and to demand for claims when the need arises. NAICOM should provide this needed intervention effort to ensure that unprofessional practices like price wars, rate cutting among others, which have been existing in the industry over the years, are controlled to the barest minimum. By its establishment, the commission has the mandate to ensure effective administration, supervision, regulation and control of insurance business in Nigeria. The commission has the duty to establish standards for the conduct of insurance business this year in order to improve on the existing standard and ensure that operators conduct their business better than they did last year. NAICOM is to determine whether there is need to increase insurance rates this year and should as such approve rates of insurance premiums to be paid in respect of all classes of insurance business. From the financial reports of insurance companies for 2016 published recently, it has been discovered that indebtedness by both government, insurance brokers and individual buyers is gradually finding its way back to the industry despite the implementation of the ‘no premium no cover law. According to the report, from non-life segment of the business, outstanding premium due from brokers, agents, sundry debtors and others to underwriters amounted to N92.98 billion. Out of the above outstanding premium, non-life operators were owed N84.48 billion and life operators N8.58 billion. A breakdown of the figures revealed that agents and brokers owed N1.96 billion, sundry debtors, N15.29 billion and others N75.81 billion. The NIA, which is the umbrella body of insurance underwriters in the country was established in 1971 to promote and uphold the universally accepted standards of business ethics and professional integrity among its members, using modern technology in maintaining and disseminating information globally. There has been crusade over the years by public speakers against unethical practices among insurance underwriters. The NIA as the umbrella body should tighten its belt in disowning or delisting operators who indulge in any form of unethical practices. It should also caution its members who still drag the image of the industry into the mud through repudiation of genuine claims. The Nigeria Council of Registered Insurance Brokers (NCRIB) is the umbrella association of all registered insurance brokers in Nigeria who are by law expected to be registered by it before they can be licensed to operate in the Nigerian insurance market by the NAICOM. The council has as its objectives the duty to establish and maintain a central organisation for insurance brokers and generally do all

Kari

such things as may, from time to time elevate their status and safeguard and advance their interest and procure their general efficiency and proper professional conduct, with a view to ensuring for the community, the existence of a class of insurance brokers who can be relied upon as being trustworthy and duly qualified to perform their responsible duties. The new president of the association should be awake in doing this. He should keenly watch over legislation affecting insurance brokers, and to promote, or

Aside from awareness creation, the issue of maintaining high ethical and professional standards in business conduct is of importance as this will ensure that adequate premiums are charged in each business transaction and claims paid timely without stressing the customer

support and assist in any legitimate manner, the carrying into effect of any legislation having for its object the common interest of members, of the council and the general public. On the other hand, the objectives of establishing the Institute of Loss Adjusters of Nigeria (ILAN) was to establish and sustain a professional body of practicing loss adjusters of Nigeria. It has the responsibility of engaging in activities that will ensure the general welfare and public well-being of insurance loss adjusters and to take necessary actions for the advancement of education in the field of loss adjusting in Nigeria. The objectives should be pursued by the institute by establishing and maintaining institutions, libraries, schools, and recreation centres for the succour, assistance or education of its members, and the public in Nigeria in loss adjusting. Similarly, the Association of Registered Insurance Agents (ARIEN) members have the responsibility of promoting and selling grassroots insurance resting on their shoulders. They have numerous members scattered all over the country and are closer to the masses more than the brokers and the underwriters. They should therefore, use this opportunity to market insurance to Nigerian masses and in doing that protect the image of the industry by not presenting themselves in bad light. They should make use of relevant technologies to spread insurance to all Nigerians. They should establish branches in rural areas to pursue the federal government 10 million farmers insurance scheme by marketing micro insurance scheme to farmers in rural areas. ARIEN should also rise up to the challenge of keying to the model marketing tool like those of information technology in

selling insurance to the grass root through the education of its members and enlisting of young graduate who are more versatile in the use of modern technology in the sale of insurance. The association should ensure that its members do not further dent the industry’s image through misbehaviors like absconding with premium they supposed to remit to insurance firms and non documentation of policy contracts of their clients. Risk Surveyors Association of Nigeria (RISAN) is an association of corporate bodies and individuals performing the duties of risk surveyors in the fields of risk management, risk surveying, loss prevention, risk controls, etc in relation to fire technology, safety devices, engineering, business information and other risk of both industrial, commercial and personal lines. RISAN provides continuous education for its members and inculcate in them the virtues of maintaining good business relationship with clients when giving professional advice on risks. One of the areas insurers are not getting things right in Nigeria is in the area of educating Nigerians on how to stay safe and avoid risks. The result of this is that insurance industry is prone to claims emanating from avoidable risks. The risk surveyors should, during the year, make their position and services more prominent and accessible than the previous years. Many don’t understand their position and place in the insurance industry they should therefore tell people where they are and what they can do to help in reducing the burden of claims from avoidable risks coming the way of insurers. Industry observers are of the view that the insurance sector stands better chance of performing optimally if these bodies live up to their expectation in their regulatory functions and business conducts.

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Venezuela to Issue $5.9bn in Oil-backed Cryptocurrency President Nicolas Maduro said on Friday that Venezuela would issue 100 million units of its new oil-backed cryptocurrency in coming days, although it is unclear whether any investors will want to purchase the “petro� at a time when the OPEC member is going through a deep economic crisis and its leftist government has little credibility. Socialist Maduro surprised many last month when he announced the launch of the cryptocurrency, to be backed by Venezuela’s oil, gas, gold and diamond reserves, as a way to circumvent U.S. sanctions that have hurt Venezuela’s access to international banks. Maduro specified on Friday that each unit of the currency would be pegged to Venezuela’s oil basket, which this week averaged $59.07 per barrel, according to the oil ministry. That implies the total cryptocurrency issued would be worth just over $5.9 billion. There is much confusion, however, over how the mechanism will work. Opposition politicians have already panned the project as a fanciful idea doomed to fail and useless at getting food to the millions who are suffering from product shortages and the world’s highest inflation. Maduro says the cryptocurrency will usher in the “21st century� and boost Venezuela’s access to hard currency. “I have ordered the emission of 100 million petros with the

legal sustenance of Venezuela’s certified and legalized oil wealth,� said Maduro in a state television address. “Every petro will be equal in value to Venezuela’s oil barrel.� Venezuela has the world’s largest oil reserves, according to OPEC, and makes some 95 percent of its export revenue from oil. Critics say the government has squandered wealth from a decade-long oil boom and that without reforms any influx of resources will also be burned through. Strict currency controls have forced people onto the black market, on which a dollar can buy 137,000 bolivars. The country’s strongest official rate, meanwhile, is 10 bolivars per dollar. That fall in value combined with money printing by the central bank is behind what many analysts are measuring as hyperinflation. Local economic consultancy Ecoanalitica said prices rose more than 80 per cent in December alone. Money supply, according to the central bank, was up more than 1,000 percent last year. Maduro said the cryptocurrency issuance would take place through virtual exchanges in the coming day, but did not give further details. Cryptocurrencies are decentralised and their success relies on transparency, clear rules and equal treatment of all involved.

NEWS

Oil Toys with $62 amidst Iranian Friction, US Drilling Pullback Oil rose, clinging to last week’s gains as political tensions in Iran and declining exploration work in the United States(US) threatened output growth. Futures advanced 0.5 per cent on Monday, settling near $62-a-barrel in New York. A simmering power struggle in Iran has raised anxieties over the stability of OPEC’s third-largest crude producer, Bloomberg reported. Meanwhile, US explorers cut the number of rigs searching for oil last week by the biggest margin in two months. The Iran situation “has the market a bit on edge,� said John Kilduff, a partner at

Again Capital LLC, a New York-based hedge fund. Oil has held above $60 a barrel since late December in New York with US crude stockpiles contracting and American oil drilling stalling out. Output curbs by the Organization of Petroleum Exporting Countries(OPEC) and allied suppliers have buoyed prices, with producers promising to continue the curbs for all of 2018. “The risk at this point is somewhat to the upside, particularly if we continue to see weak drilling numbers in the United States,� Head of Global Commodity Strategy

at TD Securities in Toronto, Bart Melek said. Yet at current prices levels, “a significant portion of shale production is viable and profitable.� West Texas Intermediate for February delivery added 29 cents to settle at $61.73 a barrel on the New York Mercantile Exchange. Total volume traded was about 8 percent below the 100-day average. Brent for March settlement climbed 16 cents to end the session at $67.78 a barrel on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a premium of $6.06 to March

WTI. Iranian President Hassan Rouhani said the anger that led to a week of antigovernment protests exposed the need for the greater freedoms he has long championed, as well as a stronger economy. In the US, drillers reduced the oil rig count last week by 5 to 742 rigs. In the midst of investor pressure, explorers are seeking to do more with less in a bid to boost profits, including opening already-drilled wells by fracking them rather than deploying more rigs to start new ones.

GM Getting Ready to Build Small Cadillac SUV General Motors Company is gearing up one of its car plants to build a new Cadillac crossover with hopes of reversing the luxury brand’s sales slump in the United States(US) according to people familiar with the matter. The automaker has begun building test versions of the Cadillac XT4 at its assembly plant in Kansas City, said the people, who asked not to be named because the company hasn’t yet announced production plans. Tom Wickham, a GM spokesman, declined to comment. The XT4 will have a dual mission for GM. The first is to give SUV-loving luxury buyers more options in Cadillac showrooms. The second is to make better use of the automaker’s Fairfax assembly plant in Kansas at a time when auto companies are laying off workers who make passenger cars and contemplating whether to keep making their slowest-selling models. For Cadillac, GM needs more sport utility vehicles to help sales in the U.S., which fell 8 percent last year. The brand’s sales are booming in China but have struggled at home because dealers only have two SUVs to sell -- the XT5 crossover and the full-size Escalade. According to Bloomberg, the XT4 will be smaller than the

XT5 and give GM a competitor to vehicles like the BMW X3 and Audi Q3. In the U.S., the XT5 was one of only two models in the Cadillac line-up to see sales increase last year, with deliveries surging 73 per cent. “It’s a new architecture for us, and it is up to the task,� Johan de Nysschen, the president of Cadillac, said in an email. “It’s the right size, dynamics and sophistication to attain what I believe is worthy of a Cadillac in this segment.� The XT4 will be built using similar underpinnings as the Chevrolet Malibu sedan also made at GM’s Fairfax assembly plant, which will help defray the costs of parts for each vehicle. Building the SUV with shared parts is a welcome plan for workers at the factory, where GM cut a third shift last year as Malibu sales plunged 18 percent. To keep passenger cars profitable, automakers are looking to build them alongside more profitable SUVs. Detroit’s three carmakers build few SUVs and cars on the same assembly lines, while rivals Honda Motor Co. and Toyota Motor Corp. have done it for decades. GM shares climbed 0.5 percent to $44.22 at the close Monday. The stock jumped 18 percent last year.

FOR GOOD HEALTH

L-R: Human Resources Manager, Dana Air, Valentine Osuorah; Communications Manager, Kingsley Ezenwa; Account OďŹƒcer, Rasheed Musediq; Accountable Manager/Chief Operating OďŹƒcer, Obi Mbanuzuo and Senior Information Technology OďŹƒcer, Douglas Amiadamhen during Dana Air’s 9th Anniversary Football Competition in Lagos...recently

Saudi Arabia Converts Aramco ahead of Historic IPO Saudi Arabia has changed the status of its national oil giant Aramco to a joint-stock company as of Jan. 1, in a key step for an initial public offering (IPO) planned for later this year. The sale of up to 5 percent of Saudi Aramco, expected to go ahead in the second half of 2018, is a centerpiece of Vision 2030, an ambitious reform plan to reduce the dependence of the Saudi economy on oil. The plan is championed by Saudi crown Prince Mohammad bin Salman. The change, which was published in a cabinet decree in the kingdom’s official bulletin on Friday, is a requirement for local companies in Saudi Arabia ahead of listing, a senior Aramco source, who declined to be named, told Reuters. “As a customary step in the preparation process for a Saudi IPO, Saudi Aramco has converted to a joint stock company,� the source said.

“This establishes the framework to allow future investors to hold shares in the company alongside its shareholder, the government.� But it is an important step as it shows the IPO process, which could be the biggest in history raising up to $100 billion, is moving ahead despite market speculation it could be delayed or totally shelved. Prince Mohammad told Reuters in October it was still on track for 2018. Aramco has a fully paid capital of 60 billion riyals ($16.00 billion) divided into 200 billion ordinary shares, according to the company’s bylaws published in the official bulletin. The firm’s board will have 11 members and the power to list the company in domestic and international markets, it said. The government will propose 6 members of Aramco’s board, but shareholders with a more

than 0.1 percent stake will have the right to propose a member to the general assembly. The government will have the right to appoint or change the company’s chairman, a position currently held by Energy Minister Khalid al-Falih. The government will remain the major shareholder of Aramco and retain the ultimate decision on output levels and production capacity, it said. “The state will remain the only responsible entity to make the final decisions regarding the maximum levels of hydrocarbons that can be produced at any time,� it said. Saudi officials have said domestic and international exchanges such as New York, London, Tokyo and Hong Kong have been looked at for a partial listing of the state-run oil firm. They also left the door open for other options including an exclusive listing on the

kingdom’s bourse Tadawul and an IPO coupled with a private placement to a strategic investor as a precursor to an international IPO. Aramco’s IPO will comply with regulations of the Saudi stock exchange and also regulations of the international market where it will be listed, the official bulletin said. Investors have long debated whether Aramco could be valued anywhere close to $2 trillion, the figure announced by the crown prince, who wants to raise cash through the IPO to finance investment aimed at helping wean the world’s biggest oil exporting nation off its dependency on crude. A kingpin of the Organization of the Petroleum Exporting Countries (OPEC), Saudi Arabia is also leading members and other rival oil producers such as Russia to restrict oil supplies under a global oil pact to drain inventories and boost oil prices.

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PERSPECTIVE

Still On Cement War Between Dangote and BUA

By Rahma Oladosu It is no longer news that there is an ongoing dispute between the Dangote group PLC, and the BUA International Limited Abdulsamad Rabiu over contentious mining site (No. 2541ML) said to be in the boundary town of Oguda/ Ubo in Okene, Kogi State. It all started when BUA group accused Dangote group of trying to force it to relinquish mining rights in a limestone field as part of a bid to monopolize the cement market. BUA’s chairman, Abdulsamad Rabiu, said Dangote group was undermining security around his plant in Edo state, a state with limestone, a key ingredient in cement manufacturing. Dangote’s cement operation is in the North central state of Kogi. “Our cement business has of late come under intense, consistent attacks as the minister Kayode Fayemi, Dangote group and their cohorts have sought to employ instruments of state to forcefully wrest control of our mining areas,� BUA said in a letter to President Buhari, asking the president to intervene and investigate the matter. He said the company was under pressure to relinquish its mining area to Dangote. Meanwhile, the ministry of mines in a statement alleged that the management of BUA Group has been using armed militia, soldiers and policemen to mine marble and limestone in mining sites allocated to the Dangote Group. According to the Permanent Secretary, Mohammed Abass, in the records of the

Ministry of Mines and Steel Development and the Nigerian Mining Cadastre Office, the BUA Group did not have a mining lease over the contentious site (No. 2541ML) and was therefore engaged in illegal mining. “The ministry had earlier in 2015 issued a stop work order on this same disputed site but the BUA Group disregarded the order and went ahead with its illegal mining activities, under heavy cover of armed soldiers, policemen and men of the Nigeria Security and Civil Defence Corps.� While this was going on the Executive Director, Dangote Group, Mr. Devakumar Edwin, said in a statement, “The Dangote Group validly acquired its interest and mining title in the disputed Mining Lease No. 2541 from AICO Ado Ibrahim & Company Limited sometime in 2014. AICO itself had applied to the Mining Cadastre Office and Ministry of Mines and Steel Development for the said Mining Lease No. 2541 located in a boundary town of Oguda/Ubo in Okene Kogi State in 2007. However, BUA insisted that its mining sites were in Obu, Okpella, Edo State and not Kogi State. BUA in specific response to Devakumar Edwin of Dangote Group’s claim of BUA operating on ML2541 in Okene, Kogi State,said “ we wish to restate that BUA does not have any operations whatsoever in Okene, Kogi State where the purported ML2541 is situated. Our mining operations are limited to Obu-Okpella, Edo State for which licences ML18912 and 18913 were issued and revalidated by the same ministry in a publication�

“These licences have been owned, operated and fulfilled by BUA and its predecessorsin-title since 1976 as it is also a notorious fact that we have exercised total control and possession over the mining area covered by the above mining leases since 1976 when we operated under the name of Bendel Cement Company Limited.� After much arguments and exchange of words over the disputed mining site, Edo State governor, Godwin Obaseki finally revealed that the federal government’s directive during a meeting with leaders and elders of Okpella community at the Government House, Benin City, noted that parties involved in the crisis were in court, and therefore the federal government had decided that further mining in Obuh community be suspended to allow a peaceful resolution of the dispute in court. According to Obaseki, “We are following the rule of law, there is a dispute, it is not unusual to have disputes over assets, but there are laid down methods to resolving disputes of this nature. “What we understand as a government is that there is dispute or claim between the two parties over an existing mining right and the Mining Act of 2007 is quite clear, the Federal Ministry of Mines and Minerals Development decides on how to award or issue leases. “In this case, there are multiple claims and they have all gone to court. We have a letter from the Federal Ministry of Mines and Minerals Development instructing that the party currently mining that particular site should vacate it, pending the outcome of the

decision in court. “So the position of the Edo State government today is that court orders must be obeyed, the federal government´s instruction should be obeyed, that the mine should be shut until the outcome or the determination of the case in court.� While shutting down the mining sites might be a relief or alternative option right now to ease the tension and confusion caused by the whole saga on rightful ownership fights over, it is necessary to confirm the exact location of the sites. We have seen the argument by Dangote claiming that its mine ML2541 site is in Okene, Kogi State while BUA on the other hand is insisting that its mining sites ML18912 and 18913 and operations are limited to Obu-Okpella, Edo State. The National Boundary could easily resolve this boundary dispute. Meanwhile it is necessary to point out the socio-economic as well as political implication of the tussles between the two powerful cement manufacturers and industrialists in Nigeria. Apart from creating anxiety and tension among the communities across the two states that could create communal clashes, the economic impact of inactivity and job loss that drastically affect the national revenue cannot be overemphasized. Delay in resolving this issue will continue to have negative effects on economy. It is therefore pertinent to call for appropriate interventions at resolving the crisis as soon as possible. t0MBEPTV XSJUFT GSPN "CVKB BOE DBO CF SFBDIFE PO PMBEPTVSBINB!HNBJM DPN

Coal Dwarfs Battery Metals in Mining Deals despite War on Pollution Coal and iron ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future. While the biggest deal was in Brazil, China was a top player despite planning to reduce domestic coal and steel-making to tackle smog in its cities. Elsewhere, miners haunted by the overpriced mega-purchases they made before the commodities crash of 2015 hesitated on deals involving the metals needed to run electric cars. Mining deals totaled $96.8 billion, based on 2,109 mostly

modestly-sized transactions in the past year, Thomson Reuters Deals Intelligence showed. That marked a 10 percent increase in value from 2016 but fell far short of $150-$200 billion totals in the boom years, after which miners had to write billions of dollars off the value of their assets. More than $92 billion of the 2017 total was spent on coal, iron ore and steel deals as investors stayed loyal to a sector that still generates steady profits despite the global drive to reduce pollution. Analysts predict continued demand, even though coal is the biggest source of the

carbon emissions that the 2015 Paris Agreement aims to curb. Steel-making, which uses iron ore and coking coal, accounts for an estimated seven percent of industrial direct CO2 emissions, industry figures show. For the mining sector, the minerals offer an established way of making money when ultra-low official interest rates mean relatively cheap funding is available to purchase assets. “If you are a buyer, maybe you think you can squeeze some cost out of it thanks to the low cost of capital,� Brewin Dolphin equity analyst Nik Stanojevic said, adding that emerging markets such as

China and India will continue to rely on coal for years to come. Demand from these huge and growing economies will help to counter the trend against fossil fuels. Norway’s sovereign wealth fund has proposed dropping oil and gas companies from its benchmark index while Britain said on Friday it will set an emissions limit on coal-fired power stations from 2025, forcing them to close unless they use carbon capture technology. China is pushing to limit consumption of coal, which is used to produce most of its electricity. But its coal output will still be around 3.9 billion

tonnes a year by 2020 and on Friday it announced plans to create several “super-large� mining companies by then. Demand for metals used in making batteries, such as lithium, cobalt and nickel, is expected to soar as China leads the shift to electric vehicles. But investors regard them as less certain to guarantee profits because prices are volatile and the basic minerals require additional processing for use in batteries. Lithium and cobalt CBD3 in particular look overpriced. Spot battery grade 99.5 percent lithium carbonate in China AM-995C-LTCB, where most lithium batteries are made,

rose around a third in 2017, while cobalt prices more than doubled. Analysts and bankers say mining companies are holding fire on battery deals due to the risk of paying too much, as they did for assets at the height of the commodities boom that culminated in 2012. “We’re hoping the industry has learned some cautionary lessons,� said analyst Paul Gait at Bernstein, adding it would be very unwise to buy projects such as lithium in the current market. “It should be left to its own devices. The lithium price is coming down. There’s no way this is the bottom of the cycle.�

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EDUCATION Achieving a Workable Plan for Students in the New Term With the beginning of a new term after the Christmas and New Year break, which is usually packed with academics and extra-curricular activities, experts and parents suggest that with careful and deliberate planning, students will be ready to take on the entire year. Funmi Ogundare reports

They must be adequately prepared for the new term

The holidays are over and a new term is here. This period is usually greeted with mixed feelings as most parents who had taken part in the merry making and shopping associated with Christmas and New Year, have to start thinking of tuition fees and school materials to buy for their children. Many schools resumed across the country on January 8, while some others will resume on January 15. Though the second term of every academic session is not as hectic as the first, it is still packed with academics and extra-curricular activities which require a great deal of thought and preparation. Some parents opined that with careful and deliberate planning, parents and children would be ready to take on the entire year. The Executive Administrator of The Foreshore School, Ikoyi, Miss Oyindamola Egbeyemi, said getting the students fully prepared for a new term is a challenge as parents may find themselves getting a little anxious around this time, especially for those who have children that are moving to new schools. She added that children may find the prospect of a new term exciting or nerve-wracking, depending on their disposition, age and stage of learning, however, a few key things need to be done to ensure that they start the term properly and are not left behind or out of sync with school activities early on. Considering the amount of time that students have spent out of school over the holidays, she said it is only natural that their bodies may have gone out of sync of the daily routine during the term, adding that in order to make it easier for their children to wake up early when school starts, parents need to enforce earlier and stricter bedtimes during the days approaching the start of the term. “This way, they children’s body clocks start to adjust to the routine of waking up earlier and it becomes less of a chore when they eventually resume school,� she said. During the holiday, Egbeyemi said children would have spent a lot of time resting and recovering from their hard work during the previous term, adding, “while rest is important, it is also imperative that students begin to get more mental stimulation ahead of the start of

the term. Mentally engaging activities such as reading, writing and solving puzzles will provide that kick that will wake them up and prepare them for the work ahead of them when the term begins.� The administrators said the first day of school could be daunting, especially for children who move to a new school. “There may be some fear of the unknown, unclear expectations, new friends to make, new academic challenges, new teachers, and so on. To overcome this, it is advisable for students to take some time to reflect on the previous term with a view of what is to come in the new one. They should think as far back as their first day up until the last day of the last term; taking note of all their achievements in-between. “This would serve as a good confidence boost that reminds them of the challenges they overcame in the past; and therefore prepare their minds for those ahead. After a long break from school, parents and students may forget the new term’s activities. In order to adequately prepare, parents should retrieve the school calendars (if they do not have them already), review them and prepare for activities holding over the course of the term, some of which may require advance planning or purchase of special items.� As a way of ensuring that the children are physically prepared for the new term, she suggested that parents should take them for a general check up with their doctors, adding that by so doing, any illness that may have not been noticed early enough will be nipped in the bud thereby giving the children a healthy start for the term. Egbeyemi said some children may experience a growth spurt over the holiday, so there is need for parents to ensure that their uniforms still fit (for those who are returning to the same school). “For those changing schools, parents must make all arrangements to ensure that they purchase new uniforms on time. In addition to uniforms, other materials that parents need to ensure that their children are equipped with include stationery, sportswear, bags and books. “Following the Christmas holiday period, there is temptation to take the holiday a little further by the children, they could decide to skip one or two days of the beginning of the

term. Missing out on school in any way is not advisable because the children and parents would have to catch up to get back on track. This could destabilise the students, thereby laying a weak foundation at the beginning.� A journalist, Mrs. Biodun Ozurumba said there must have been a deliberate saving culture before the Christmas season, adding that parents don’t have to eat up all funds available to them just to celebrate Christmas. “Parents should have paid their children’s school fees even before resumption. All school uniforms that needed repairs should have been tidied up; new ones must have been washed and kept ironed aside. All other things for school like provisions for the boarders can now be purchased and kept in air tight containers and labelled for the students.� She added that parents should tutor their children on how to relate with their fellow students, obey their teachers and be of good behaviour. “It has been a trying period for parents, but our children are our future, thus, it is important to leave mundane things for serious investment on one’s children,� Ozurunmba said. A parent, Mrs. Bukola Ogunlade said for parents that are not capable of paying the exact tuition fee meant for their children, they could contact the school to know if they could pay in instalments so as to ease their burden. She said parents should also get their children’s school and lunch bags, shoes, socks, uniforms and be sure that there is no need for amendment, adding that they should prepare the time table for meals and review the kind of snacks their children would be taking to school. “Parents should start reminding their children of their resumption and their expectations in the term regarding their attitude in school and to their academics.� The Zonal Coordinator, North Central, National Institute for Cultural Orientation (NICO), Ilorin, Mr. Ohi Ojo said 2017 was a difficult year for many Nigerians financially, especially for those who have only one source of income, adding that the income could not meet increase in the cost of living. He stressed the need for parents to take a holistic approach to paying their children’s tuition

fees and choice of schools, saying, “unfortunately many parents are not aware of the great strides that have been achieved in government and public schools. These schools have more qualified and experienced hands that can take care of most needs of the parents thus freeing them with funds to do other things.� He stressed that parents should be realistic enough to know where they can afford to send their children to. “If it is public schools so be it in order to have more funds for other commitments.� Ojo added that the distance of the schools the children attend from their homes should be considered, saying that savings from transport cost can help pay for other bills. “These are fundamental issues which must be honestly tackled in order to avoid annual financial embarrassment parents face in paying for their children and wards especially as many parents faced the brunt of recession of 2017.� The Director, Omolewu Academy, Beckman Height, Okeho, Mr. Segun Omolewu expressed concern about the attitude of some Nigerians over the education of their children, saying that some parents prefer to spend more time and money in beer parlours and buying party uniforms popularly called ‘aso ebi’, rather than giving their children quality education. “For us to prepare adequately for the children’s resumption, we need to cut down on certain things that are not needed at this period when the education of our children is paramount.� He regretted that “in a town where my school is located, despite the fact that they cannot afford the school fees for quality education, they spend quality time every evening in beer parlours, and on weekends, they have three or four parties to attend and buy ‘aso-ebi’.� The director said with the recession of 2017, there is need for parents to cut their coats according to their cloth, adding, “the Christmas period is a holiday period, so parents should reduce their going out. With the recession, there should be a reduction in the amount we spend on entertainment for the festivities and even fuel scarcity should not also reduce the plan for the children’s quality education bearing in mind that the future is more important.�

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EDUCATION

Bauchi Allocates 18.8% of 2018 Budget to Education Segun Awofadeji in Bauchi The Bauchi State Government has allocated 18.8 per cent which amount to N31,579 696,627 to the education sector in the 2018 proposed budget of N167,957,420 800. This was disclosed by the Permanent Secretary of the State Planning Commission, Yahuza Adamu Haruna at a ministerial media briefing on

2018 budget. The permanent secretary said 2018 budget was basically focused on the six priority areas of the present administration which are health, agriculture, education, sanitation and water supply, youth and women empowerment and infrastructural development. According to him, education is another area of critical importance to the state government,

which is why the government is allocating N31,579,696,627, representing 18.80 per cent to the sector. He said the intervention that will be carried out in the sector includes renovation and reconstruction of many primary and secondary schools; training and retraining of staff; provision of equipment and construction of ICT centres, among others. “Because of the intervention

in this sector, the number of students that passed the national exams rose from 3.37 per cent in 2015 to 17 per cent. in 2016 and 27 per cent in 2017,� Haruna said. Giving a further breakdown of the 2018 budget, he said N25,574,001,643, representing 15.23 per cent was allocated to the health sector, which shows government’s commitment to

the sector. He said the planned interventions in the health sector in 2018 includes continue the implementing of the fivehealth point agenda and establishment of state health care insurance agency. Others includes provision of one per cent of the entire state Consolidated Revenue Fund (CRF) for basic health care delivery,

fulfilling all national and international health partnership agreements, as well as implementing the national policy guidelines for primary health care under one roof. The permanent secretary explained that the budget tagged ‘Budget of Consolidation’ is investing massively in infrastructure revolution, as well as human capital development.

Schools Resumption: Adebule Tasks Heads of Schools on Compliance Funmi Ogundare The Deputy Governor of Lagos State, Dr. Oluranti Adebule has called on proprietors and school administrators to ensure compliance with the state government’s unified resumption date to improve the standard of education. A statement signed by the Head, Public Affairs, Office of Education Quality Assurance, Ministry of Education, Mr. Emmanuel Olaniran read: “the Deputy Governor, Dr. Oluranti Adebule warmly welcomes students in public and private schools, as well as principals, head teachers, teachers and proprietors in Lagos State back to school. “The 2017/2018 second term academic activities commences immediately on Monday, January 8, 2018. All students in public and private schools are expected back in school.� In another development, Adebule has commended the retirees of the Office of Education Quality Assurance for setting the pace for a vibrant, committed and result oriented legacy for improved educational standard in the state. She thanked the retirees for setting the pace for the betterment of the state education system below tertiary level with assured improvement and sustainability of standard. The deputy governor, who was represented by the Chairman of the State Universal Basic Education Board (SUBEB), Dr. Ganiu Sopeyin, gave the commendation at an end of the year party and retirement celebration organised by the agency to appreciate its retirees and reward exemplary officers. She also commended the awardees for exemplary discharge of their primary assignment and encouraged them not to rest on their oars. The State House Committee Chairman on Education, Mr. Lanre Ogunyemi also commended the outstanding retirees and the awardees, saying, “to you officers who have retired, be assured that your work will continue to speak for you while for you the awardees, the upper rung of the ladder is where you are destined in your career.� The Director General,

Office of Education Quality Assurance, Mrs. Ronke Soyombo said since inception, the collective, determined and committed efforts of the officers and evaluators have helped improved the quality and standard of the education system below tertiary level in the state. She disclosed that the Whole School Evaluation (WSE) exercise, a statutory responsibility of the agency, has continuously and consistently been embarked on. “It is heart-warming that schools across the state graded fair and poor are now been graded good and very good due to OEQA’s intervention in both public and private schools resulting to improved learners’ performance.� She added that since the beginning of the exercise, the quality and standard of teaching, security around schools, learning environment, safeguarding and child protection, checkmating of examination malpractices, subject accreditations, admission racketeering and observation of open day activities across schools in the state six education districts have improved tremendously. “Further achievement includes training and retraining of evaluating officers on Education Management Information System (EMIS), training and retraining of head teachers of public primary and secondary schools and proffering amicable solutions to matters affecting learners and staff of educational institutions. “The OEQA’s projection and development plan this year will be in pursuit of new strategies in intervention practice with a view to further improve learning outcomes in schools, training of evaluators for improved performance and furthering enlightenment advocacy,� Soyombo said. The highpoint of the occasion was the presentation of gifts to the retirees and rewarding outstanding evaluators and other outstanding staff of the OEQA. Ogunyemi also presented cash gifts to the best evaluator male and female categories and the best staff.

From left:The Vice-Chancellor, University of Nigeria, Nsukka (UNN), Prof Benjamin Ozumba with the Ambassador of Sweden, Her Excellency, Inger Ultvedt, when the ambassador visited the university for the UNN-Science Park Development Initiative‌ recently

Sahara Group, Oduwole Partner to Empower African Girls Worried by the statistics indicating that 15 million girls of primary school age half of them in sub-Saharan Africa - will never enter a classroom, an African energy conglomerate, Sahara Group is providing an empowerment platform that would give wings to the aspirations of the African girl-child. Tagged ‘Empowering the African Girl Child’, the project is being implemented under Sahara’s Grooming Film Extrapreneurs initiative, which seeks to promote economic empowerment through the arts. Sahara Foundation, in collaboration with Zuriel Oduwole, a young film maker and advocate for girl-child education and gender equality, will host a film making session for 90 African girls in Nigeria, Ghana and Cote d’ Ivoire from January 8-17,

2018 to give the beneficiaries a head start towards pursuing a career in the creative arts. According to the Head, Corporate Communications, Sahara Group, Bethel Obioma, the project is expected to drive the advocacy message for girls’ rights; highlight key issues affecting girls across the three African countries; and equip 90 girls with the foundational skills required to become film makers. “We plan to identify and empower girls who have shown a talent for film making and/or production. Our hope is that the initiative would inspire and replicate Zuriel’s success among other girls her age in Africa. Above all, Sahara Group is particularly passionate about the fact that the project would give traction to ongoing conversations and interventions geared towards the pursuit of

gender equality and quality education, being goals four and five of the Sustainable Development Goals.� Speaking on her partnership with Sahara, Oduwole said she is hopeful that the success of the project would encourage more corporations around the world to create partnerships with small groups to empower more girls across the globe. “I like the fact that Sahara Group sees some value in what I am doing with girls’ education across the world, and just like the African proverb, ‘if you want to go fast, go alone, and if you want to go far, go together’. I think I have gone very fast in the last five years since I started my project at age 10. Sahara has shown they are serious about girls education, so it is easy for me to create a partnership, so we can do more together

for girls education in Africa, and also around the world,� said the teenage film maker who at the age of 12 had her self-produced movie screened in a commercial cinema. The Manager, Sahara Foundation, Oluseyi Ojurongbe, said the film making workshop would run for two days in each of the three countries. “The participants will be expected to execute a joint docu-film project featuring human angle stories of children across Africausing their countries as case studies- to highlight challenges, opportunities and aspirations of the girl-child in Nigeria, Ghana or Cote D’Ivoire.� Ojurongbe explained that 90 girls (30 from each country) from age 13 to 19 have been identified across the three African countries as beneficiaries based on their interests in film making.

NIPCO Company Secretary Unveils Foundation, Awards Scholarships The Company Secretary, NIPCO PLC, Paul Obi, has launched a non-profit making and non-partisan foundation aimed at contributing to the progress of humanity through the encouragement of educational pursuits. The Sir Paul Obi Foundation inaugurated in Ogberuru, Orlu Zone of Imo State also awarded scholarship to about 30 indigent students of the town and neighbouring autonomous communities. Twelve of the beneficiaries are university graduates, while about two scores were

at secondary school level prior to making secondary education free in the state. Speaking at the inauguration of the foundation, Obi who chairs the Board of Trustees said “I started nursing the philanthropic idea in 2001 and put it to informal effect in 2005 prior to the formal launch today.� He said the foundation, established in memory of his late father, Augustine Okoronkwo Obi, who was instrumental to his being a lawyer, but died before he could graduate from the university, was initially for indigent people from Ogberuru

Autonomous Community, but has now being extended to 12 autonomous communities in the area making up the Ochasi Clan. Obi stated that the scheme is primarily aimed at supporting the training of beneficiaries through university education and thereafter make them assist their families and contribute to the development of the area and society at large. He added that the foundation is intended to support the handicapped and empower the youths and for social regeneration, as well as serve as pressure group to draw the attention of

government to erosion gullies ravaging some parts of the clan. He said the importance of education cannot be over emphasized as illiteracy is a major factor in breeding and promoting poverty of the mind and spirit. According to him, the project which is being supported by traditional rulers in the area and beyond, would be attacking poverty within its available resources through educational support with the ultimate aim of improving the quality of life of residents of the communities and the state in general.

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BAF Turns Two, Builds Capacity of Public School Teachers Uchechukwu Nnaike To commemorate its second anniversary, the Bunmi Adedayo Foundation (BAF) has kicked off a 12-month professional development training for about 200 teachers from 16 public primary schools in Lagos State. The training, facilitated by the Teaching Network Foundation, is aimed at sharpening the skills of public school teachers in the state for better learning output and improved performance of the pupils. In his remarks, the Chairman, Board of Directors of the foundation, Mr. Babatunde Akinleye, said the focus of the foundation has always been to build the capacity of primary school teachers, adding that a needs analysis was carried out by the consultant to identify the areas where their skills need to be enhanced and based on analysis, a 12-month programme was drawn up. He said the consultant also

designed the curriculum for the workshop, which would enable the teachers to contribute the knowledge they already have, share ideas and develop their capacity. He said there would also be follow up by the foundation to monitor the value the teachers would add in their classrooms. “Our focus in the foundation is to have better learning outcome, better results from the children to enable them compete with those who attend private schools.� On the foundation’s achievements so far, Akinleye said: “The journey has been interesting, we have achieved more than we expected and thank God for the support from various individuals and organisations. There are always challenges, but we have not come across any challenge that we have not been able to overcome.� The Chief Executive Officer of the foundation, Mrs. Yemisi Adedayo, who underscored

the importance of continuous professional development, said it will enhance the competence of the participants. While reiterating the foundation’s mission of enhancing the learning outcome of public primary schools, she said it has adopted three more primary schools, in addition to the two existing ones. She said by 2020, the schools would have been transformed, adding that all the projects in the schools would be needs-driven. Also speaking, the Training Consultant, Dr. Dolapo Ogunbanwo, who commended the foundation for the initiative, said without training and developing teachers, who are the gate keepers, the foundation vision cannot be attained. She said the training would afford the participants the opportunity to share their knowledge because when people that already have a

lot of experience bring their ideas together, they further enrich themselves. In his remarks, the Chairman of the State Universal Basic Education Board (SUBEB), Dr. Ganiyu Sopeyin, who thanked the foundation for its support, said “BAF has shown us over the years that they are indeed our dependable and reliable partner in the wheel of progress in our quest to provide qualitative and quantitative education for our children who are leaders of tomorrow.� While reiterating the importance of teachers in education, he said training of teachers is one of the important components of the Universal Basic Education Programme (UBE), adding that training and re-training can therefore not be over-emphasised. He urged the beneficiaries to take advantage of the golden opportunity, participate actively so that they can go back as resource persons to train others.

Tips for Writing Constructive Reports

Ă? ĂŁĂ™Ă&#x; Ă?Ă?Ă?Ă– ĂšĂ?Ă˜Ă?Ă“Ă Ă? Ă‹ĂŒĂ™Ă&#x;Ăž ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ ĂšĂœĂ™Ă‘ĂœĂ?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?ĂœĂ? 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‹Ă˜ĂŁ ĂĄĂ‹ĂŁĂ? Ă—Ă“ĂœĂœĂ™ĂœĂ? ĂŁĂ™Ă&#x;Ăœ Ă™ĂĄĂ˜ Ă—Ă?Ă˜ĂžĂ™ĂœĂ?Ă’Ă“Ăš Ă?Ă?Ă?Ă?Ă?ÞÓà Ă?Ă˜Ă?Ă?Ă?Ë› Ă™ ĂŽĂ™ Ă“Ăž ĂĄĂ?Ă–Ă–Ëœ Ă‹ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă—Ă&#x;Ă?Ăž ĂŽĂ™ Ă‹ Ă?Ă?ĂœĂ“Ă™Ă&#x;Ă? Ă?Ă Ă‹Ă–Ă&#x;Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒĂ? Ă?ÞËĂ?Ă?ËŞĂ? Ă™Ăœ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžËŞĂ? ĂĄĂ™ĂœĂ•Ëœ Ă’Ă“Ă? ĂšĂ?ĂœĂ?Ă™ĂœĂ—Ă‹Ă˜Ă?Ă?Ă? Ă“ Ă‹Ă˜ĂŽ ÞÒĂ?Ă˜ Ă?ĂŁĂ˜ĂžĂ’Ă?Ă?ÓäĂ? Ă’Ă?Ăœ Ă™ĂŒĂ?Ă?ĂœĂ Ă‹ĂžĂ“Ă™Ă˜Ă? Ă“Ă˜ĂžĂ™ Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ ÞÒËÞ Ă“Ă? Ă&#x;Ă?Ă?Ă?Ă&#x;Ă– ÞÙ ÞÒĂ? Ă?Ă&#x;ĂŒĂ”Ă?Ă?ĂžËœ Ă’Ă“Ă? ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂœĂ?Ă–Ă?Ă Ă‹Ă˜Ăž ÙÞÒĂ?ĂœĂ?Ë› Ù×Ă? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? Ă?Ă?Ă?Ă– ÞÒËÞ ÞÒĂ? ĂšĂ&#x;ĂœĂšĂ™Ă?Ă? Ă™Ă? Ă‹ ĂœĂ?ĂšĂ™ĂœĂž Ă?Ă‹ĂœĂŽ Ă“Ă? ÞÙ ĂšĂœĂ™Ă Ă“ĂŽĂ? Ă‹ Ă?Ă˜Ă‹ĂšĂ?ÒÙÞ Ă™Ă? Ă‹ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžËŞĂ? Ă‹Ă?Ă‹ĂŽĂ?Ă—Ă“Ă? Ă‹Ă˜ĂŽ Ă?Ă™Ă?Ă“Ă‹Ă– Ă?Ă•Ă“Ă–Ă–Ă?Ë› ÞÒĂ?ĂœĂ? Ă Ă“Ă?ĂĄ Ă“Ăž Ă—Ă™ĂœĂ? Ă?Ă?ĂœĂ“Ă™Ă&#x;Ă?Ă–ĂŁ Ă‹Ă˜ĂŽ ĂœĂ?ËÖÓäĂ? ÞÒËÞ ĂĄĂ’Ă“Ă–Ă?Ăž ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ ÞÒĂ? ĂœĂ?ĂšĂ™ĂœĂžËœ ÞÒĂ?ĂŁ Ă‹ĂœĂ? Ă?ËÚÞĂ&#x;ĂœĂ“Ă˜Ă‘ Ă‹ Ă?Ă˜Ă“ĂšĂšĂ?Ăž Ă“Ă˜ Ă?Ù×Ă?Ă™Ă˜Ă?ËŞĂ? Ă’Ă“Ă?ĂžĂ™ĂœĂŁ Ă?Ă™Ăœ ÞÒĂ? ĂšĂ‹ĂœĂ?Ă˜ĂžËœ Ă?Ă™Ăœ ÞÒĂ? Ă?Ă?Ă’Ă™Ă™Ă–Ëœ Ă‹Ă˜ĂŽ Ă?Ă™Ăœ ÞÒĂ? Ă˜Ă?âÞ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ě™Ă?ÙÖÖĂ?Ă‘Ă? Ă™Ăœ Ă“Ă˜Ă?ÞÓÞĂ&#x;ĂžĂ“Ă™Ă˜Ěš ĂĄĂ’Ă™ Ă—Ă“Ă‘Ă’Ăž Ă˜Ă?Ă?ĂŽ ÓÞˏ˛ Ă’Ă? Ă?Ă™Ă–Ă–Ă™ĂĄĂ“Ă˜Ă‘ ĂšĂ™Ă“Ă˜ĂžĂ? Ă‹ĂœĂ? ÞÓÚĂ? ÞÒËÞ ĂŁĂ™Ă&#x; Ă—Ă‹ĂŁ Ă?Ă“Ă˜ĂŽ Ă&#x;Ă?Ă?Ă?Ă&#x;Ă– Ă?Ă™Ăœ ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ ĂŁĂ™Ă&#x;Ăœ Ă˜Ă?âÞ ĂœĂ?ĂšĂ™ĂœĂžË? Do not write narratives, Keep your writing brief. Ă™Ă&#x; Ă˜Ă?Ă?ĂŽ ÞÙ Ă•Ă˜Ă™ĂĄ ĂĄĂ’Ă‹Ăž Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ ÞÙ Ă?ÙÖÖĂ?Ă?Ăž Ă?Ă™Ăœ Ă‹ ĂœĂ?ĂšĂ™ĂœĂž Ă?Ă‹ĂœĂŽË› ĂžĂ‹ĂœĂž Ă?ĂœĂ™Ă— ĂŽĂ‹ĂŁ Ă™Ă˜Ă? Ă™Ă? ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă“Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă?Ă–Ă‹Ă?Ă? ÞÙ Ă‘Ă?Ăž ÞÙ Ă•Ă˜Ă™ĂĄ ÞÒĂ?Ă— Ă‹Ă˜ĂŽ Ă?ÙÖÖĂ?Ă?Ăž Ă‹Ă–Ă– ĂœĂ™Ă&#x;Ă˜ĂŽ ÎËÞË Ă™Ă˜ ÞÒĂ?Ă—Ë› Ă™Ă&#x; ĂĄĂ“Ă–Ă– Ă&#x;Ă?Ă&#x;Ă‹Ă–Ă–ĂŁ Ă˜Ă™Ăž ĂŒĂ? ÞÒĂ? Ă™Ă˜Ă–ĂŁ Ă™Ă˜Ă? Ă“Ă—ĂšĂ&#x;ĂžĂ“Ă˜Ă‘ Ă“Ă˜ĂžĂ™ ÞÒĂ?Ă“Ăœ Ă–Ă“Ă Ă?Ă?Ëœ Ă•Ă?Ă?Ăš Ă‹Ă˜ Ă?ĂŁĂ? Ă™Ă˜ ĂĄĂ’Ă‹Ăž ÙÞÒĂ?Ăœ ĂœĂ?Ă–Ă?Ă Ă‹Ă˜Ăž ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? Ă•Ă˜Ă™ĂĄ Ă™Ă? ÞÒĂ?Ă“Ăœ ĂšĂ?ĂœĂ?Ă™ĂœĂ—Ă‹Ă˜Ă?Ă?Ă?Ëœ ËÞÞÓÞĂ&#x;ĂŽĂ?Ă? Ă‹Ă˜ĂŽ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™ĂœË› Gain clarity from: ĂŁĂ™Ă&#x;Ăœ Ă’Ă?Ă‹ĂŽĚ‹ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËœ ĂšĂœĂ“Ă˜Ă?ÓÚËÖ Ă™Ăœ Ă‹ĂŽĂ—Ă“Ă˜Ă“Ă?ĂžĂœĂ‹ĂžĂ™ĂœËœ ×ÙÎĂ?Ă– ĂœĂ?ĂšĂ™ĂœĂžĂ? Ă‹Ă˜ĂŽ Ă?ĂœĂ™Ă— ÙÞÒĂ?Ăœ ĂœĂ?Ă–Ă?Ă Ă‹Ă˜Ăž ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ?Ë› Ă’Ă?Ă?Ă• ĂŁĂ™Ă&#x;Ăœ Ă?Ă?ÒÙÙÖ˪Ă? Ă‹Ă?Ă?Ă?Ă?Ă?Ă—Ă?Ă˜Ăž ÚÒÓÖÙĂ?ÙÚÒã˞ ĂšĂ?ĂœĂ&#x;Ă?Ă? ×ÙÎĂ?Ă–Ă? Ă™Ă? Ă?âĂ?Ă?Ă–Ă–Ă?Ă˜Ăž ĂœĂ?ĂšĂ™ĂœĂžĂ? ĂĄĂœĂ“ĂžĂžĂ?Ă˜ ĂŒĂŁ ÙÞÒĂ?Ăœ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? Ă“Ă˜ Ă‹ Ă?Ă“Ă—Ă“Ă–Ă‹Ăœ Ă?Ă–Ă‹Ă?Ă? Ă™Ăœ Ă?Ă&#x;ĂŒĂ”Ă?Ă?Ăž Ă‹ĂœĂ?Ă‹Ë› Know precisely what you are assessingË› Ă? Ă“Ăž ĂšĂœĂ™Ă‘ĂœĂ?Ă?Ă? Ă“Ă˜ Ă?Ă™Ă—ĂšĂ‹ĂœĂ“Ă?Ă™Ă˜ ÞÙ ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžËŞĂ? ĂšĂœĂ?Ă Ă“Ă™Ă&#x;Ă? ĂĄĂ™ĂœĂ• Ă™Ăœ Ă“Ă? Ă“Ăž Ă‹Ă˜ Ă?Ă Ă‹Ă–Ă&#x;Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă? Ă’Ă“Ă? ĂĄĂ™ĂœĂ• Ă“Ă˜ Ă?Ă™Ă—ĂšĂ‹ĂœĂ“Ă?Ă™Ă˜ ÞÙ Ă’Ă“Ă? Ă?Ă–Ă‹Ă?Ă? Ă™Ăœ ĂŽĂ™ĂœĂ—Ă“ĂžĂ™ĂœĂŁ Ă—Ă‹ĂžĂ?Ă?ËŁ ĂœĂ? ĂŁĂ™Ă&#x; Ă‘ĂœĂ‹ĂŽĂ“Ă˜Ă‘ Ă?Ă?Ă?Ă™ĂœĂžËœ Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁËœ ĂœĂ?Ă‘ĂœĂ?Ă?Ă?Ă“Ă™Ă˜ Ă™Ăœ ĂŽĂ?Ă‘Ă?Ă˜Ă?ĂœĂ‹ĂžĂ“Ă™Ă˜ËŁ Ă‹Ă?Ă’ Ă™Ă? ÞÒĂ?Ă?Ă? Ă?ÞËÞĂ?Ă? Ă’Ă‹Ă? ˊÚÙÖÓÞÓĂ?Ă‹Ă–Ă–ĂŁ Ă?Ă™ĂœĂœĂ?Ă?Þ˪ ĂĄĂ‹ĂŁĂ? Ă™Ă? Ă?Ă?Ă?ĂŽĂ“Ă˜Ă‘ ĂŒĂ‹Ă?Ă• Ă“Ă˜ ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘Ë›

L-R: The Lagos State High Court Judge, Justice Olubunmi Adeniyi; Managing Director, Chrisland Schools, Ronke Adeyemi; Representative of Lagos State Deputy Governor, Mrs. Lola Adegbite; Grace School Administrator, Iyiola Edun; and the immediate past Vice-Chancellor, University of Lagos, Professor Rahaman Bello, during the 50th anniversary opening ceremony of Grace School in Lagos‌ recently

SEPIP Trains 891 SBMC Members on Effective School Mgt Segun Awofadeji in Bauchi As part of efforts to improve the quality of education in Bauchi State, a total of 891 School Based Management Committee (SBMC) members have been trained on effective management of schools across the state. The training under the additional financing was provided by the State Education Programme Investment Project (SEPIP), targeted at SBMC members for 297 schools in Ganjuwa, Katagum and Toro centres representing the three senatorial areas of the state. The three-day training which was specifically organised for

SBMC chairmen, secretaries and treasurers was to enable the members plan, improve and for effective management of schools in the state. Declaring the training workshop open, the Chairman, Bauchi State Universal Basic Education Board (BASUBEB), Prof Yahaya Yero said the workshop was meant to educate the SBMC on ways to conduct and manage the school system with a view to taking over schools from the government in the near future. Yero, who was represented by the Director, Quality Assurance of the state SUBEB, Alhaji Abdullahi Hamza, urged the SMBC members to judiciously

use resources of their schools effectively based on the training given to them by the SEPIP. The chairman, who emphasised the vital role of education to the socio-economic and political development of any society or nation, said “this is the reason the state government places high premium on developing the state education sector to meet international standard.� In a goodwill message, the Provost, College of Education, Dr. Garbba Kirfi, called on the participants to involve the Parent Teachers Association (PTA) members of their schools in all their activities as government would hand over the schools

to communities. He pointed out that when the communities handled the schools effectively, the intention of government is to transfer all schools budget to the SBMC account of the schools as the contributions of government towards the development of the schools. Also, the Deputy Project Coordinator, SEPIP, Mallam Datti Umar advised the participants to pass on the training they received to other members of their various schools. He urged the participants to make good use of the capacity building workshop with a view to improving the school system.

Ali Blames Leaders, Parents for Declining Quality of Education Ademola Babalola in Ibadan A Senior Advocate of Nigeria (SAN), Yusuf Ali has bemoaned the poor quality of education acquired by Nigerian youths, and accused the leaders and parents of no longer investing in the sector. Ali said this while presenting WAEC and NECO registrations

fees to 50 final year indigent students of Ibadan Boys High School, his alma mater recently. The presentation made under the aegis of the Yusuf Olaolu Ali Foundation as a vehicle for the philanthropic works, was part of his efforts to touch the lives of the less privileged as a mark of honour to God for His unending favour and blessings

in his life. Ali said the foundation established in 2009 is now concentrating on intervening in the area of education and health. “It is interesting to note that I attended this great secondary school as a matured student having secured admission after concluding my primary and modern school education and having worked briefly. This

school contributed in no small measure to the personality Allah has made me today.� While regretting that government at all levels and parents are no longer investing as much in education as before, Ali urged the Oyo State government not to relent in its giant strides to put education in its rightful place by injecting more funds into it.

Get organized! Ă?Ăž ÞÒĂ? Ă?Ă?ÒÙÙÖ˪Ă? Ă‹Ă?Ă‹ĂŽĂ?Ă—Ă“Ă? Ă?Ă‹Ă–Ă?Ă˜ĂŽĂ‹Ăœ Ă‹Ă˜ĂŽ Ă?ĂžĂ‹ĂœĂž Ă?Ă‹ĂœĂ–ĂŁ ÞÙ Ă?ÙÖÖĂ?Ă?Ăž ÞÒĂ? ÞÙÙÖĂ? ĂŁĂ™Ă&#x;ËŞĂŽ Ă&#x;Ă?Ă? ÞÙ Ă—Ă‹Ă•Ă? ĂŁĂ™Ă&#x;Ăœ Ă?Ă Ă‹Ă–Ă&#x;Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă&#x;Ă?Ă’ Ă‹Ă? ĂžĂ?Ă?Ăž ĂœĂ?Ă?Ă&#x;Ă–ĂžĂ?Ëœ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ?ËŞ Ă?Ă?Ă–Ă?Ě‹Ă‹Ă?Ă?Ă?Ă?Ă?Ă—Ă?Ă˜ĂžËœ ÙÞÒĂ?Ăœ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ?ËŞ Ă‹ĂšĂšĂœĂ‹Ă“Ă?Ă‹Ă–Ă? Ă‹Ă˜ĂŽ ĂŁĂ™Ă&#x;Ăœ Ă™ĂĄĂ˜ Ă“Ă—ĂšĂœĂ?Ă?Ă?Ă“Ă™Ă˜Ă?Ë› ÞÒĂ?Ăœ Ă?Ă™Ă&#x;ĂœĂ?Ă?Ă? ÞÙ Ă’Ă?Ă–Ăš ĂŁĂ™Ă&#x; Ă?Ù××Ă?Ă˜Ăž Ă™ĂŒĂ”Ă?Ă?ÞÓà Ă?Ă–ĂŁ Ă‹ĂœĂ? ĂœĂ?Ă?Ă™ĂœĂŽĂ?ĂŽ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ?ËŞ Ă“Ă˜Ă Ă™Ă–Ă Ă?Ă—Ă?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ Ă?Ă™Ă˜ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ“Ă™Ă˜ ÞÙ Ă?Ă˘ĂžĂœĂ‹Ě‹Ă?Ă&#x;ĂœĂœĂ“Ă?Ă&#x;Ă–Ă‹Ăœ Ă‹Ă?ÞÓà ÓÞÓĂ?Ă? Ă‹Ă˜ĂŽ Ă’Ă™Ă&#x;Ă?Ă? ĂšĂ?ĂœĂ?Ă™ĂœĂ—Ă‹Ă˜Ă?Ă?Ă?Ë› You may want to set up an assessment system early Ă’Ă“Ă? Ă“Ă? Ă?ĂœĂ“ĂžĂ“Ă?Ă‹Ă– ÞÙ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ă–ĂŁ ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ ĂŁĂ™Ă&#x;Ăœ Ă?Ù××Ă?Ă˜ĂžĂ?Ë› Ă™Ă&#x; Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă‹Ă?Ă?Ă™ĂœĂŽ ÞÙ Ă‹Ă?Ă?Ă?Ă?Ă? Ă™Ă˜ ÞÒĂ? Ă?ÚÙÞ Ă‹Ă? ÞÒÓĂ? Ă“Ă? Ă–Ă“Ă•Ă?Ă–ĂŁ ÞÙ ĂŒĂ? Ă‘Ă&#x;Ă?Ă?Ă? ĂĄĂ™ĂœĂ•Ëœ Ă&#x;Ă˜Ě‹Ă?Ă&#x;ĂŒĂ?ĂžĂ‹Ă˜ĂžĂ“Ă‹ĂžĂ?ĂŽ Ă?ÞËÞĂ?Ă—Ă?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂŽĂ‹Ă—Ă‹Ă‘Ă“Ă˜Ă‘ ÞÙ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ?ËŞ Ă?Ă’Ă‹ĂœĂ‹Ă?ĂžĂ?ĂœĂ?Ë› ÒÙÙĂ?Ă? ĂŁĂ™Ă&#x;Ăœ ĂĄĂ™ĂœĂŽĂ? Ă?Ă‹ĂœĂ?Ă?Ă&#x;Ă–Ă–ĂŁË› Ă™Ă&#x; Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă?Ă&#x;Ă— Ă&#x;Ăš Ă‹ Ă’Ă&#x;Ă—Ă‹Ă˜ ĂŒĂ?Ă“Ă˜Ă‘ Ă“Ă˜ Ă‹ ĂŒĂ™Ă˘ ÞÒËÞ˪Ă? Ă™Ă˜Ă–ĂŁ Ă‹ Ă?Ă™Ă&#x;ÚÖĂ? Ă™Ă? Ă“Ă˜Ă?Ă’Ă?Ă? ĂĄĂ“ĂŽĂ? Ă‹Ă˜ĂŽ ĂŽĂ?Ă?ĂšË

Ăž Ă“Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ ĂĄĂœĂ“ĂžĂ? Ă”Ă&#x;ĂŽĂ“Ă?Ă“Ă™Ă&#x;Ă?Ă–ĂŁ ĂĄĂ’Ă?ÞÒĂ?Ăœ Ă™Ăœ Ă˜Ă™Ăž ĂŁĂ™Ă&#x;ËŞĂœĂ? ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ Ă?ĂšĂ‹ĂœĂ“Ă˜Ă‘Ă–ĂŁË› Be proactive; Ă™ Ă˜Ă™Ăž ĂĄĂ‹Ă“Ăž Ă?Ă™Ăœ ĂœĂ?ĂšĂ™ĂœĂž Ă?Ă‹ĂœĂŽ ÞÓ×Ă? ÞÙ ĂŽĂ?Ă–Ă“Ă Ă?Ăœ Ă‹Ă˜ĂŁ ĂŒĂ‹ĂŽ Ă˜Ă?ĂĄĂ?Ë› Ă™Ă?Ăž ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? ĂĄĂ™Ă&#x;Ă–ĂŽ Ă‹ĂšĂšĂœĂ?Ă?Ă“Ă‹ĂžĂ? Ă•Ă˜Ă™ĂĄĂ“Ă˜Ă‘ ÞÒĂ? Ă?Ă“ĂžĂ&#x;Ă‹ĂžĂ“Ă™Ă˜ ĚŽ Ă‘Ă™Ă™ĂŽËœ ĂŒĂ‹ĂŽ Ă™Ăœ Ă&#x;Ă‘Ă–ĂŁËœ Ă?Ă‹ĂœĂ–ĂŁË› Ă’Ă‹Ăž ĂĄĂ‹ĂŁËœ ÞÒĂ?ĂŁ Ă?ÙÙÚĂ?ĂœĂ‹ĂžĂ? åÓÞÒ ĂŁĂ™Ă&#x; ÞÙ Ă?Ă’Ă‹ĂšĂ? ÞÒĂ?Ă“Ăœ Ă?Ă’Ă“Ă–ĂŽ Ă?Ă‹ĂœĂ–ĂŁ Ă‹Ă˜ĂŽ Ă?Ă™ Ă‹ĂœĂ? ĂšĂœĂ?ĂšĂ‹ĂœĂ?ĂŽ Ă?Ă—Ă™ĂžĂ“Ă™Ă˜Ă‹Ă–Ă–ĂŁ ÞÙ ĂœĂ?Ă‹ĂŽ ÞÒĂ? ĂœĂ?ĂšĂ™ĂœĂž Ă?Ă‹ĂœĂŽË› Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ“Ă˜Ă‘ ĂĄĂ?Ă–Ă– åÓÞÒ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? ĂŒĂ?Ă?Ă™ĂœĂ? Ă‹Ă˜ĂŽ Ă‹Ă?ĂžĂ?Ăœ ÞÒĂ? ĂœĂ?ĂšĂ™ĂœĂž Ă?Ă‹ĂœĂŽ Ă“Ă? Ă Ă?ĂœĂŁ Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜ĂžË› Ă‹ĂœĂ?Ă˜ĂžĚ‹ Ă?Ă‹Ă?Ă’Ă?ĂœĂ?ËŞ Ă?Ă™Ă˜Ă?Ă?ĂœĂ?Ă˜Ă?Ă?Ă? Ă?Ă‹Ă˜ Ă’Ă?Ă–Ăš ÞÙ Ă?Ă‹Ă?ÓÖÓÞËÞĂ? ÞÒÓĂ?Ë› Ă?ĂžĂ‹ĂŒĂ–Ă“Ă?Ă’ Ă‹ ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜Ă‹Ă– ĂœĂ‹ĂšĂšĂ™ĂœĂž åÓÞÒ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă™Ă˜ ÞÒĂ?Ă?Ă? Ă™Ă?Ă?Ă‹Ă?Ă“Ă™Ă˜Ă?Ë› Create a personalized or individualized ‘Progress Tracking Record System’. Ă’Ă“Ă? ĂĄĂ™Ă&#x;Ă–ĂŽ Ă?Ă—ĂŒĂ™ĂŽĂŁ Ă‹Ă˜ĂŁ Ă?Ă™Ă˜Ă?Ă?ĂœĂ˜Ă? ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžËœ ĂŁĂ™Ă&#x;Ăœ ĂžĂ‹ĂœĂ‘Ă?Ăž ĂŒĂ?Ă’Ă‹Ă Ă“Ă™ĂœĂ?Ëœ ĂĄĂ‹ĂŁĂ? ĂŁĂ™Ă&#x; ĂĄĂ™Ă&#x;Ă–ĂŽ Ă?Ă&#x;ĂšĂšĂ™ĂœĂž ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜Ăž ÞÙ Ă‹Ă?Ă’Ă“Ă?Ă Ă? ÞÒĂ?Ă— Ă‹Ă˜ĂŽ ÞÓ×Ă? Ă?Ă?Ă‹Ă–Ă?Ă? Ă“Ă˜ ĂĄĂ’Ă“Ă?Ă’ ĂŁĂ™Ă&#x; ĂšĂœĂ™ĂšĂ™Ă?Ă? ÞÙ Ă‹Ă?Ă’Ă“Ă?Ă Ă? Ă?Ă’Ă‹Ă˜Ă‘Ă?Ă? Ă“Ă˜ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜Ăž ĂŒĂ?Ă’Ă‹Ă Ă“Ă™ĂœË› Ă˜ĂžĂ“Ă—Ă‹ĂžĂ? ĂŁĂ™Ă&#x;Ăœ Ă’Ă?Ă‹ĂŽĚ‹ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËœ ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜Ăž Ă‹Ă˜ĂŽ ÞÒĂ? ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă™Ă? ÞÒÓĂ? ËŠĂ?Ă‹ĂœĂ?Ě‹ĂšĂ–Ă‹Ă˜Ă˜Ă“Ă˜Ă‘ËŞ Ă?Ă?Ă?Ă™ĂœĂž Ă‹Ă˜ĂŽ Ă™ĂŒĂžĂ‹Ă“Ă˜ ÞÒĂ?Ă“Ăœ Ă?Ă™Ă˜Ă?Ă?Ă˜Ăž ÞÙ Ă&#x;Ă?Ă? ÞÒÓĂ? ÞÙÙÖ˛ Ă’Ă“Ă? ĂœĂ?Ă?Ă™ĂœĂŽ Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‹Ă?Ă?Ă?Ă?Ă?Ă“ĂŒĂ–Ă? ÞÙ ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜Ăž Ă‹Ă˜ĂŽ Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă•Ă?ÚÞ Ă?Ă™Ă˜Ă?Ă“ĂŽĂ?Ă˜ĂžĂ“Ă‹Ă–Ë› Ă™ ×ËÞÞĂ?Ăœ ĂĄĂ’Ă‹ĂžËœ Ă‹Ă–ĂĄĂ‹ĂŁĂ? ĂœĂ?Ă—Ă?Ă—ĂŒĂ?Ăœ ÞÒËÞ ĂŁĂ™Ă&#x; Ă‹ĂœĂ? ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ Ă‹ĂŒĂ™Ă&#x;Ăž Ă?Ù×Ă?Ă™Ă˜Ă?ËŞĂ? Ă?Ă’Ă“Ă–ĂŽËœ Ă?Ù×Ă?Ă™Ă˜Ă? ĂĄĂ’Ă™Ă?Ă? ĂšĂ‹ĂœĂ?Ă˜ĂžĚ™Ă?Ěš ÖÙà Ă?Ëœ Ă?Ù×Ă?Ă™Ă˜Ă? ĂĄĂ’Ă™Ă?Ă? Ă&#x;Ă˜Ă?Ă™Ă˜ĂŽĂ“ĂžĂ“Ă™Ă˜Ă‹Ă– Ă‹Ă?Ă?Ă?ĂšĂžĂ‹Ă˜Ă?Ă? ÞÙ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ Ă?Ă?ÒÙÙÖ Ă—Ă‹ĂŁ ĂŽĂ?ĂšĂ?Ă˜ĂŽ Ă™Ă˜ ĂĄĂ’Ă‹Ăž ĂŁĂ™Ă&#x; ĂĄĂœĂ“ĂžĂ? Ă‹Ă˜ĂŽ Ă–Ă‹Ă?ÞÖã Ă?Ù×Ă?Ă™Ă˜Ă? ĂŁĂ™Ă&#x;ËŞĂ Ă? Ă™Ă˜Ă–ĂŁ Ă•Ă˜Ă™ĂĄĂ˜ Ă?Ă™Ăœ Ă‹ Ă?Ă—Ă‹Ă–Ă– Ă?ĂœĂ‹Ă?ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒĂ?Ă“Ăœ Ă–Ă“Ă Ă?Ă?˛˛ - Omoru writes from the UK

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NNMA Boss: Uniqueness of Work, Not Publication of Several Papers Earns Award A lot of mysteries seem to have shrouded the Nigeria National Merit Award, despite several applications from top notch academics in the country. In de-mystifying the award, which often produce only two recipients, one in humanities and the other in sciences, the Chairman of the Board, Prof. Shekarau Yakubu Aku said it is beyond the submission of papers, and more on the uniqueness of the work submitted. He spoke with Kuni Tyessi Last year, only two academics were found worthy of the award by the board; the same thing happened the previous year despite several applications. Is this now the norm? It is not the number of applications that is important, but the merit of the work of those who have been nominated or those who have nominated themselves. We do not have a number we work with. We advertise for applications and nominations and each of these is processed and it is those that merit the award that are moved to the final stage. If you look at our decree, it says it must be unique. You might have lots of papers to becoming a professor but if the work is not unique, you might not have the merit. The award is not for academics only, it is for everyone who has made contributions to national development. The awardees of last year are two. One is a professor in chemical engineering and the other is a fine artist and not in the academia. Apart from the academia of what beneďŹ t is the award to Nigeria and Nigerians? The award encourages people in research and this should particularly be relevant to the needs of the country. The last one did a lot of inventions and equipment for testing all sorts of things. He was a military man too. He invented things that are used in hospitals. His work was unique and he was able to cling the award. We want deep uniqueness of these contributions to the country. Many of these people have placed Nigeria on the world map with their contributions and that is why we give them such opportunities. Many Nigerians have placed the country on the world map and have retold the country’s story in new dimensions yet they have not been recognised by the board. For instance the celebrated writer, Ms. Chimamanda Adichie is young and has contributed to the literary world through her ďŹ erce writings. Why has she not been recognised by the board? I know the young lady you are talking about and I have read some of her works. The award is not made and given based on such. We advertise and call for nominations, usually within the period of three months. After the nominations close, we process them. If you didn’t apply and was not nominated by someone, there is no way we can process you. If we do it that way, it will be another thing entirely. Many academics are unaware of the award. What is the board putting in place to ensure that it spreads its tentacles in order to increase participation? It is not true that many academics are not aware of the awards. We advertise in the electronics and print media. So if somebody does not bother, that is a different issue. The truth is that many do not want to apply because the conditions are very stringent. So if you apply and don’t go beyond the first stage, you feel bad and the award is a proof that it is meant for very distinct people What are the processes and special attributes involved and needed for recognition by the board? We make the advertisement and give a closing date for submission. We ask that the application be accompanied with evidence. They choose what their best evidence is and make submissions. We have four areas of awards. The first is in the humanities, which includes arts/culture and education, the second is in the sciences which includes all the pure and applied sciences like agriculture, etc. The third is in medicine and this includes the allied in areas such as pharmacy

Aku and nursing and then we have the engineering and technology which also covers building and architecture. Each of the areas is taken care of by a specialised committee. The committee is drawn by assessors from the universities mainly and each committee has a membership of 10 persons. This means we are talking about 40 professors from universities all over the country. The nomination goes to the committee of assessors and they go through them. They have two or three meetings. For the first meeting, they get to go through the submissions and they share them among themselves. They all go through the works and then come back for the second meeting. Sometimes, we use external assessors if we do not have specialists within the assessors. So once you go through this stage, which is the stage of the specialised committee, their decision goes to the next stage which is the committee of chairmen of the committee, chaired by one of them who is usually referred to as the chairman of chairmen. The idea is to ensure that some committees are not too hard on applications and some are not too soft, so that there is a balance. Once it goes through that second stage of the committee of chairmen, it comes to the full board. The board then takes the decision and it forwards them to Mr. President who approves the awards. The presidency usually requests for all the minutes of the meetings and the justifications, and even at the presidential level, the submissions are still cross-checked. It is when the president is satisfied with the nominations that he gives us the approval for the award. It is only at that stage that we can announce the names of the people who have passed the exercise. Nigerians seem to play politics with everything; would you say that at some points, politics and god-fatherism inuence the choice of recipients? No god-fatherism and politics is involved in the choice of candidates. The assessors have no contact with the nominees and we try to make sure that nobody knows who the assessors are and we have done this since 1979 and we have had no problems of that nature. The secretariat is very strict on that. One of the assessors scored all the submissions 100 per cent in everything and the committee rejected it, citing that there is no way anyone can be perfect and we had to go and look for a separate assessor. That is how far we go. What do you hope to achieve during your tenure as chairman of the board of NNMA? There are a number of things one would have loved to achieve but whether we can do them is a different issue. We have developmental projects which we want to do. In the last one year, we have been able to just get money for the normal things.

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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×

A New Chapter for Lagos Doyen Lion Club As part of its commitment to continue to address the plight of the less-privileged in the society, the Lagos Doyen Lion Club recently installed a new president and new club officers. Ugo Aliogo who attended the event, reports

L-R: Lion Jude Obaro, the newly installed President, Lion Dr. Abiola Oyeleye, the outgoing president, Lion Adeyemi Bero and Alex Irotumhe

I

t was a cool evening baked in the solemnity of happiness and love for members of the Lagos Doyen Lions Club District 404 A1 Nigeria. The day was carved out to celebrate the investiture ceremony of Lion Dr. Abiola Oyeleye, who takes over the reins of power as the new President of the club and also the installation of club officers. The evening also hosted the fund raising event for 1,000 charity cataract surgeries project for the club. The ambiance and electricity of the event spoke volume emphasising on the need to support the less-privileged in the society. Undoubtedly, the event remains a significant milestone in the annals of the club. When it was time for the newly installed President of the club, to give his acceptance speech, he was filled with great delight to the amazement of the members and invited guests. His joy knew no bound not because he had taken the mantle of leadership, but for him it was a convenient photo opportunity to illustrate service and charity, activities which mean so much for the Lagos-based Ophthalmologist. Oyeleye is an easy going fellow. He is a man with a large heart. He has deep understanding of charity and love because of the exemplary precepts laid down by his late father who was a member of the club. This has helped to form his beliefs and shaped his thoughts on the need to give and change lives within the limits of an individual’s resources and power. Oyeleye is soft spoken. His personality depicts a man cut out from the hustle and bustle of daily life, maybe because of his professional training as a medical doctor. In the figment of the imagination of the members of the club, he clearly understood what the position of such required. There was something about his demeanour that was very comforting, especially the way he conducted things and ensured that things

were properly done irrespective of the seeming challenges. “Lagos Doyen Lions Club has already carried out other projects in this Lionistic year in conjunction with other Lions Clubs (including the Lekki Admiralty Lions Club, Lions Club District 404 A1), Ophthalmological Society of Nigeria (OSN) Lagos State Chapter and Lagos Island Local Council Development Area. My team from the Eye Doctors’ have been drafted to carrying out Lions projects this year and are available to support projects,� he noted. He also noted that they were hopeful of raising funds towards 1,000 charity cataract surgical operations for the under privileged at N15, 000 per surgery, adding that in partnership with the President of OSN, Dr. Bade Ogundipe, they have already mobilised ophthalmologists who have agreed to carry out the surgeries for N15,000 per surgery.

In every society, there is a lot of need, and I will not be able to achieve all. It is a continuation, so we look around every society. My own special area is eye surgery. Lionism does a lot in other aspects of need. We are hoping to raise 15,000,000 for the 1,000 surgeries. Today, we have a lot of persons who have signiďŹ ed their intentions to donate

The newly installed President of Lagos Doyen Lions Club, Lion Dr. Abiola Oyeleye

Oyeleye added that the beneficiaries of the projects would not be only in Lagos, but other parts of the country. He said in 1990, the club launched the

‘Sight First’ programme, adding that through the initiative, the club is restoring sight and preventing blindness on a global scale, “Lions have raised more than $346 million

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37

CITYSTRINGS

for this initiative. Sight First targets the major causes of blindness: cataract, trachoma, river blindness, childhood blindness, diabetic retinopathy and glaucoma.� Oyeleye said: “In every society, there is a lot of need, and I will not be able to achieve all. It is a continuation, so we look around every society. My own special area is eye surgery. Lionism does a lot in other aspects of need. We are hoping to raise 15,000,000 for the 1,000 surgeries. Today, we have a lot of persons who have signified their intentions to donate. “Today is not the only day we receive funds. We raise funds throughout the year and carry out the surgeries. The surgeries will not be done only in Lagos, it is going to be wide spread or in any other clubs that call on us we will plan towards helping them. I have colleagues who are willing to share my dreams with me. “The club has been in Nigeria since 1963. The first club started in 1964 which is Doyen Lion Club. The first Nigerian who was the Treasurer of the club was Doyen Akintola Williams. Over the last 50 years, the club has done a lot in Nigeria in changing lives and making meaningful impacts. We have some buildings that have been donated by Lions Club, we have some motherless babies homes in Lekki, an Eye Hospital in Isolo. We engage in regular contributions for disabled children which we support strongly. In Ajah, there is a building which we built for them which is being used as a health facility. “The challenge for the club over the years is getting more people aware of what the club is doing. I am using this medium to request the support of everyone towards this course. Private organisations have supported in the past especially if members know the organisations who want to take our initiative as their Corporate Social Responsibility (CSR). A lot of organisations have contributed as CSR in the past. We should not singled out any organisation because we have at least a 100 of them. We have reached out to a lot of private partners and we have gotten support from a number of medical colleagues and those in the financial sector. We are still reaching out to others. “Regarding the issue of supporting the Internally Displaced Persons (IDPs), I am not sure that the club has done so much in that regard. However, we support where there is a need in the IDP camps. We are not limited to any geo-zone. The cataracts surgeries will cover from Lagos down to Asaba. Those are where 1,000 cataract cases are and where our district clubs are based. “Beyond cataracts another eye defect that faces the average Nigeria is Glaucoma. It is a blinding disease and it has no symptoms until it is gone very advanced. There is not enough attention given to health delivery in the country. We are supposed to put 15 per cent of our Gross Domestic Product (GDP) into the health sector, but we are not doing it. Even if we are doing that there is still a lot of work to be done. “The main problem in health sector is healthcare financing. Healthcare financing

Over the last 50 years, the club has done a lot in Nigeria in changing lives and making meaningful impacts. We have some buildings that have been donated by Lions Club, we have some motherless babies homes in Lekki, an Eye Hospital in Isolo. We engage in regular contributions for disabled children which we support strongly

The outgoing president, Lion Adeyemi Bero handing over to the incoming President, Lion Dr. Abiola Oyeleye. Alex Irotumhe looks on

Other club oďŹƒcers inducted by the outgoing president, Lion Adeyemi Bero

requires having some insurance schemes to be put in place in order to address the needs of the disadvantage. “Nothing will stop medical tourism for now because people will still feel they need to get a second opinion. What we have currently in the area of ophthalmology will take care of 90 needs of our society.� In his remarks, the President of OSN, Dr. Bade Ogundipe, stressed the need for individuals to give towards the common good of the society, adding that Nigerians should not focus on just meeting their own, but should also consider other members of the society. He noted that over the years, the club has been focused on assisting the needy in the society, while calling on spirited individuals

to take a cue from their efforts and extend a helping hand to the less-privileged in the society. Ogundipe added: “It is interesting to know that sometimes it seems that the more you give to the needy, the more your wealth grows. We are sometimes bugged by the fear of our children not sliding down into poverty, we want to feed them with silver spoon and unfortunately, some of them get choked with the silver spoon. “Cataract happens to be a major cause of blindness globally. It may reduce the self-esteem of the individuals; they become non-productive, become dependent on other people. The picture looks gloomy, but there is indeed hope. Cataract is treatable and the outcome is very good. It has been established

from studies that the amount of money spent on cataract surgeries is quadrupled in economic returns. For every $100 invested into cataract blindness, $400 is made as returns on investment, and two people are free to become productive, the blind patient and the care giver. The quality of life after cataract surgery improves so also is the self-esteem. The life expectancy is also elongated. “Distinguished guests by being part of the fundraising for 1,000 charity cataract surgeries, you are indirectly saving 2,000 people from the claws of cataracts, 1,000 patients and 1,000 care givers, you have helped boost the economic activities of the community. Also, boost the social capital of the larger community.�

T H I S D AY Ëž , DECEMBER 10, 2018

38

BUSINESS/MONEYGUIDE

World Forecasts 2.5% Growth for Nigeria in 2018 The World Bank has forecast that economic growth in Nigeria would edge up to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade. According to the World Bank’s January 2018 Global Economic Prospect report launched on Tuesday in Washington DC, Nigeria’s Gross Domestic Product (GDP) is expected to grow by 2.8 per cent in 2019 and 2020. The News of Agency of Nigeria (NAN) reports that the World Bank also forecast that global economic growth will go up to 3.1 per cent in the year. According to the bank, growth in Sub-Saharan Africa is projected to continue to rise to 3.2 per cent in 2018 and to 3.5 per cent in 2019, on the back of firming commodity prices and gradually strengthening domestic demand. However, the report showed that growth would remain below pre-crisis averages, partly reflecting a struggle in larger economies to boost private investment. “South Africa is forecast to tick up to 1.1 per cent growth in 2018 from 0.8 per cent in 2017. The recovery is expected

to solidify, as improving business sentiment supports a modest rise in investment. “However, policy uncertainty was likely to remain and could slow needed structural reforms. “Nigeria is anticipated to accelerate to a 2.5 per cent rate this year from one per cent growth in the year just ended. An upward revision to Nigeria’s forecast is based on expectation that oil production will continue to recover and that reforms will lift non-oil sector growth. “Growth in Angola is expected to increase to 1.6 per cent in 2018, as a successful political transition improves the possibility of reforms that ameliorate the business environment,â€? it stated. According to the report, CĂ´te d’Ivoire is forecast to expand by 7.2 per cent in 2018, Senegal by 6.9 per cent; Ethiopia by 8.2 per cent, Tanzania by 6.8 per cent, and Kenya by 5.5 per cent as inflation eases. The World Bank said that the regional outlook for sub-Saharan Africa was subject to external and domestic risks. It showed that any unexpected activity in the United States and Euro Zone could have a negative impact on the region.

Also, an abrupt slowdown in China could generate adverse spillovers to the region through lower-than-expected commodity prices. “On the domestic front, excessive external borrowing without forward-looking budget management could worsen debt dynamics and hurt growth in many countries. “A steeper-than-anticipated tightening of global financing conditions could also lead to a reversal in capital flows to the region. Protracted political and policy uncertainty could further hurt confidence and deter investment in some countries. “Rising government debt levels highlight the importance of fiscal adjustment to contain fiscal deficits and maintain financial stability. “Structural policies including education, health, labour market, governance, and business climate reforms could help bolster potential growth,’’ it stated. The World Bank advised policy makers around the world to focus on human investments to increase their countries’ productivity, and move closer to the goals of ending extreme poverty and boosting shared prosperity.

Analysts Predict Monetary Policy Easing Nume Ekeghe Analysts at WSTC Financial Services Limited in its 2018 forecast has predicted a 200 basis point (bps) reduction in the Monetary Policy Rate(MPR). The firm stated this in its 2018 projection titled: “Nigeria in 2018, A tale of two halves,� made available to THISDAY. The Lead Analyst, WSTC, Mr. Olutola Oni noted that “monetary easing is now a matter of when, not if.� The report added: “We expect the CBN to adopt a dovish stance in 2018, although this should bear some implications on inflation and capital flows. “The CBN will witness renewed pressure to complement the economic growth agenda of fiscal policies ahead of February 2019. “The ongoing sovereign debt portfolio restructuring will enable the CBN mop up excess liquidity at lower cost .We expect a 200bps reduction in MPR in 2018, with the first rate cut in March or May. “However, considerations about ensuring positive realreturns and stability in the FX market should ultimately place

a floor on monetary easing and yield compression.� The firm also anticipated stability in the foreign exchange market, stating that there were few incentives for the harmonisation of rates across various forex market segments in 2018. It noted that increased exchange rate exposure, resulting from the FGN’s debt substitution strategy, would be an additional reason to avoid convergence of rates in the year. “Inflows from oil earnings and proceeds of external borrowings will further prop-up external reserves in first half 2018. We expect a slowdown of inflows in the second half of 2018 as election-related uncertainty kicks in. “However, both the MPC and the Presidency will favour forex stability ahead of the February 2019 general elections, hence, we reckon that FX rates will be managed across the different market segments,� it added. Commenting on its outlook for the stock market, the report stated: “The equities market is expected to be driven by liquidity in the forex market, improving economic

activities, impressive corporate performance and softer yields on fixed income securities in first half 2018. FMCG, Industrial Goods, Banking, Construction, and Upstream Oil & Gas are poised to benefit most.� Continuing, it stated that regulation constitutes a key risk to the downstream oil and gas industry. “We expect a modest contraction in net interest margin in the banking industry in the first half of 2018. Also, high oil prices, easier access to forex and improving economic activities should strengthen asset quality and enhance modest credit growth. Healthier consumer spending will be supported by declining inflation & election- induced public spending. “The performance of the Consumer Goods & the Industrial Goods sectors will be driven by stable product prices, healthier sales volume, lower debt burden, lower borrowing cost & improved forex liquidity. “Stability in forex and declining inflation are expected to support lower input and operating costs. Thus, we expect healthier margins from companies in these sectors.

Emefiele DisownsTwitter Accounts Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has distanced himself from several twitter handles purportedly owned by him. Consequently, the CBN in a statement by its Acting Director, Corporate Communications, Mr. Isaac Okorafor yesterday, warned members of the public not to be misled by the fake twitter

accounts as well as to disregard whatever message it conveys. The statement explained: “The attention of the CBN has been drawn to the existence of several twitter handles purportedly owned by the Governor, Mr. Godwin Emefiele. “We wish to inform members of the public, particularly members of the social media community that Mr. Emefiele currently has no twitter handle.

We wish to state categorically therefore, that the twitter handles bearing the name and photographs of Mr. Emefiele are fake and targeted at misleading unsuspecting members of the public. “Accordingly, we wish to advise all members of the social media community and the general public to be wary of the fake accounts and discountenance whatever message conveyed therein.�

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, MON, JAN 8,2017 The price of OPEC basket of fourteen crudes stood at $65.85 a barrel on Monday, compared with $65.86 the previous Friday, according to OPEC Secretariat calculations.). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž , DECEMBER 10, 2018

39

MARKET NEWS

Equities Market Hits New High as All-Share Index Rises to 40,362.97 Goddy Egene and Nosa Alekhuogie

market has remained bullish in 2018 on bargain hunting. The sustained demand lifted the market by 1.29 per cent to close at 40,362.97, while market capitalisation added N182.7 billion to close N14.36 trillion. In all, 47 stocks appreciated yesterday, while only seven depreciated. Although gains recorded in the share prices of FBN Holdings, Zenith Bank, Transcorp, Access Bank and GT-

The Nigerian equities market hit a three-year high yesterday with the Nigerian Stock Exchange (NSE) All-Share Index (NSE ASI) crossing the 40,000 threshold to close at 40,362.97. This followed persistent rally in the market on positive sentiments. After rebounding in 2017 with 42.3 per cent, the

Bank were mainly responsible for rise in the index, Dangote Flour Mills Plc led the price gainers’ chart. Flour Mills chalked up 10 per cent, trailed by FCMB Group Plc with 9.05 per cent, while WAPIC Insurance Plc garnered 7.4 per cent. Diamond Bank Plc and Honeywell Flour Mills Plc went up by 6.5 per cent and 5.3 per cent in that order. Diamond Bank was recently

appointed as a Forum Member Adviser to the World Economic Forum (WEF). According to a statement, Diamond Bank is the first Nigerian company and only the second African company to become a WEF Adviser. “Membership is on an invitation only basis and is extended only to the most dynamic businesses, who are using tech-driven disruption to

PRICES FOR SECURITIES TRADED AS OF

drive growth,� the statement explained. Commenting on the appointment, the Chief Executive Officer of Diamond Bank, Uzoma Dozie, said: “I am delighted that Diamond Bank was invited to join as a Forum Member Adviser of the WEF as it is testament to our status as one of Nigeria’s leading innovators. I am also thrilled to be attending this year’s annual meeting in Davos,

where I will be presenting my views on the three key areas of financial inclusion, Nigeria’s positive outlook and the future of banking.� Meanwhile, UACN Property Development Company Plc led the price losers with 4.7 per cent, trailed by NAHCO with 4.6 per cent. Nestle Nigeria Plc shed 3.3 per cent, while Union Bank of Nigeria Plc closed 2.6 per cent lower.

A S AT 0 9 / 0 1 / 2 0 1 8

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N 1

BANKING ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm)

%CHANGE

941,894.81

4.86

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 S/N 9 10 11 12 13 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N 14 BUILDING CONSTRUCTION S/N 15 16 INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 17

OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

MARKET CAP(Nm) 361,465.60

MARKET CAP(Nm) DANGOTE CEMENT PLC 4,047,120.51

BUILDING MATERIALS

S/N

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--NON-ALCOHOLIC S/N 28 29 30 31 32

VOLUME

587

41,904,581

587

41,904,581

%CHANGE

TRADES

VOLUME

4.90

525

21,700,896

525

21,700,896

1,112

63,605,477

33 34 35 FOOD PRODUCTS S/N 36 37 FOOD PRODUCTS--DIVERSIFIED S/N

%CHANGE

TRADES

VOLUME

1.38

57 57 57 1,169

1,417,380 1,417,380 1,417,380 65,022,857

39 HOUSEHOLD DURABLES

41 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

38

S/N 40

CROP PRODUCTION

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC

1,100.00

-

0

0

64,570.17 68,000.00

4.99 2.26

26 27 53

238,816 523,013 761,829

FISHING/HUNTING/TRAPPING ELLAH LAKES PLC.

MARKET CAP(Nm) 511.20

%CHANGE

TRADES

VOLUME

-

0 0

0 0

LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

MARKET CAP(Nm) 3,060.00

%CHANGE

TRADES

VOLUME

3.03

61

3,240,285

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

BUILDING CONSTRUCTION ARBICO PLC.

61

3,240,285

114

4,002,114

S/N 42 43 44 45 46 47 48 49 50 51

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

1,853.10

-

5

56,654

194.58 2,111.93

-

6 0

74,583 0

74,385.82

3.39

335

139,920,761

34,383.47

2.29

113 459 459

3,281,043 143,333,041 143,333,041

%CHANGE

TRADES

VOLUME

-

0 0

0 0

%CHANGE

TRADES

VOLUME

60 61

-

9 0

49,244 0

63

9

49,244

64

VOLUME

65

MARKET CAP(Nm) 711.32

52 53 BANKING S/N 54 55 56 57 58 59

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

MARKET CAP(Nm) 36,960.00 165.00

REAL ESTATE DEVELOPMENT UACN PROPERTY DEVELOPMENT CO. LIMITED

MARKET CAP(Nm)

%CHANGE

TRADES

7,873.14

-4.72

21

532,918

66

21

532,918

67

%CHANGE

TRADES

VOLUME

68

-

0

0

69

-

0

0

REAL ESTATE DEVELOPMENT 18

TRADES

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 11,305.89

FOOD PRODUCTS DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC

70 71

26,682.70

MARKET CAP(Nm) 2,386.33

BEVERAGES--BREWERS/ MARKET DISTILLERS CAP(Nm) CHAMPION BREW. PLC. 17,929.55 GOLDEN GUINEA BREW. PLC. 242.22 GUINNESS NIG PLC 223,419.05 INTERNATIONAL BREWER489,878.17 IES PLC. NIGERIAN BREW. PLC. 1,110,074.12 BEVERAGES--NONALCOHOLIC 7-UP BOTTLING COMP. PLC.

62

MARKET CAP(Nm) 65,321.00 MARKET CAP(Nm) 80,850.00

-

0

0

0

0

30

582,162

%CHANGE

TRADES

VOLUME

75

-

2 2

380,000 380,000

76

%CHANGE

TRADES

VOLUME

77

5.05 2.00

37 0 68

2,129,950 0 1,379,844

78

-

13

148,834

0.01

72 73 74

79 INSURANCE CARRIERS, BROKERS AND SERVICES S/N

154

10,266,019

272

13,924,647

80

%CHANGE

TRADES

VOLUME

81

-

8

1,716

MICRO-FINANCE BANKS

8

1,716

S/N

%CHANGE

TRADES

VOLUME

10.00

326

7,994,741

261,600.00

0.46

131

6,187,377

85,287.71

1.94

149

4,329,739

82 83 84

22,045.95

5.30

61

2,462,536

85

1,861.25

-

0

0

86

N NIG. FLOUR MILLS PLC. NASCON ALLIED INDUSTRIES PLC UNION DICON SALT PLC.

1,015.74

-

2

10,000

56,380.05

4.98

44

871,957

3,676.41

-

0 713

0 21,856,350

FOOD PRODUCTS--DIVERSIFIED CADBURY NIGERIA PLC. NESTLE NIGERIA PLC.

MARKET CAP(Nm) 31,497.45 1,149,351.57

%CHANGE

TRADES

VOLUME

-0.42 -3.33

58 48

872,142 460,593

106

1,332,735

HOUSEHOLD DURABLES

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC. PERSONAL/HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

1,766.22

-

0

0

3,220.92

-0.32

110 110

8,343,614 8,343,614

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

86,079.94

3.24

98

4,564,885

252,780.24

2.33

89

1,303,937

187

5,868,822

1,398

51,707,884

MARKET BANKING CAP(Nm) ACCESS BANK PLC. 325,728.96 DIAMOND BANK PLC 48,868.42 ECOBANK TRANSNATIONAL 333,778.34 INCORPORATED FIDELITY BANK PLC 85,185.90 GUARANTY TRUST BANK PLC. 1,323,814.44 JAIZ BANK PLC 22,982.11 SKYE BANK PLC 9,299.80 STERLING BANK PLC. 43,761.44 UNION BANK NIG.PLC. 127,403.29 UNITED BANK FOR AFRICA 386,453.46 PLC UNITY BANK PLC 8,299.43 WEMA BANK PLC. 23,530.42 INSURANCE CARRIERS, BROKERS AND SERVICES AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC. AXAMANSARD INSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. GOLDLINK INSURANCE PLC GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC SOVEREIGN TRUST INSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. STANDARD TRUST ASSURANCE PLC UNIC DIVERSIFIED HOLDINGS PLC. UNITY KAPITAL ASSURANCE PLC UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC

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

%CHANGE

TRADES

VOLUME

4.16 6.57

344 476

41,124,081 219,651,811

2.54

70

1,548,524

0.68 2.23 4.00 4.69 2.70 -2.60

304 304 28 103 135 90

26,964,717 17,729,113 2,738,200 7,632,065 11,976,796 3,373,960

1.80

305

23,148,745

4.41 3.39

47 68 2,274

10,315,920 5,168,247 371,372,179

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

10,292.50

-

0

0

3,880.91

1.82

22

1,421,768

24,675.00

-

6

166,217

3,000.00

-

5

2,100,000

15,040.48

-

18

531,010

7,364.75

-

1

10,000

7,000.00 2,411.47

-

3 0

141,502 0

1,913.74

-

0

0

3,070.00

-

1

2,000

642.04

-

1

1,000

3,661.72

-

3

180,000

3,308.17

-

2

32,650

6,400.00

2.56

11

584,087

4,000.00

-

0

0

8,079.17

-0.65

20

3,368,569

3,869.74

-

0

0

2,759.15

-

2

200,000

3,334.38

-

1

481,250

4,170.41

-

2

13,000

6,455.52

-

0

0

4,670.54

-

0

0

1,291.15

-

0

0 1,000

6,933.33

-

1

8,000.00

-

0

0

7,761.99

7.41

64

2,909,180

163

12,143,233

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

11,799.67

-

0

0

3,178.43

4.51

6

186,735

6

186,735

MARKET CAP(Nm)

%CHANGE

TRADES

VOLUME

5,460.00

-

0

0

7,370.87

-

0

0

6,005.46

-

0

0

5,664.87

-

0

0

2,949.22

-

0

0

˾ WEDNESDAY, JANUARY 10, 2018

40

Nigeria Daily Stock Market Report: dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž 'ĂŝŶƐ Ϯ͘Ϭй

THISDAY AFRINVEST 40 INDEX

dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ŐĂŝŶĞĚ Ϯ͘Ϭй LJĞƐƚĞƌĚĂLJ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϲϳϭ͘ϳϳ ƉƚƐ͘ dŚŝƐ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƌŝǀĞŶ ďLJ ŐĂŝŶƐ ŝŶ 'h Z Edz ;нϮ͘ϮйͿ͕ E' D ;нϭ͘ϰйͿ ĂŶĚ E/d, ;нϰ͘ϵйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϰϭ͘ϱй ŽĨ ƚŚĞ ŝŶĚĞdž͘ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ŝŶĚĞdž ŚĂƐ ƌĞƚƵƌŶĞĚ ϴ͘ϰй zd ͘

>ŽĐĂů ŽƵƌƐĞ ^ƵƐƚĂŝŶƐ WŽƐŝƟǀĞ DŽŵĞŶƚƵŵ͙͘ E^ ^/ ƵƉ ϭ͘ϯй dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƐƵƐƚĂŝŶĞĚ ŝƚƐ ƉŽƐŝƟǀĞ ŵŽŵĞŶƚƵŵ ƚŽĚĂLJ ƚŽ ĞdžƚĞŶĚ ŐĂŝŶƐ ƚŽ ƚŚĞ ĨŽƵƌƚŚ ĐŽŶƐĞĐƵƟǀĞ ƐĞƐƐŝŽŶ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ƌŽƐĞ ϭ͘ϯй ƚŽ ĐůŽƐĞ Ăƚ ϰϬ͕ϯϲϮ͘ϵϳ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ĞdžƉĂŶĚĞĚ ƚŽ ϱ͘ϱй͘ /Ŷ ƚƵƌŶ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ EϭϴϮ͘ϳďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ƌŽƐĞ ƚŽ Eϭϰ͘ϰƚŶ͘ dŽĚĂLJ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵŽLJĞĚ ďLJ Ă ďƌŽĂĚͲďĂƐĞĚ ƌĂůůLJ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ĂůƚŚŽƵŐŚ E' D ;нϭ͘ϰйͿ͕ E/d, ;нϰ͘ϵйͿ ĂŶĚ 'h Z Edz ;нϮ͘ϮйͿ ǁĞƌĞ ƚŚĞ ŵĂŝŶ ĚƌŝǀĞƌƐ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ŝŶĐŚĞĚ Ϯϳ͘ϱй ŚŝŐŚĞƌ ƚŽ ϳϳϬ͘ϵŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ĚŝƉƉĞĚ ϱϭ͘Ϯй ƚŽ Eϳ͘ϵďŶ͘

ŽŶƐƵŵĞƌ 'ŽŽĚƐ /ŶĚĞdž ŵĞƌŐĞƐ >ŽŶĞ >ŽƐĞƌ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ďƵůůŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƐĂǀĞ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ǁŚŝĐŚ ƐŚĞĚ Ϭ͘ϯй ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ E ^d> ;Ͳϯ͘ϯйͿ͕ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ĂƉƉƌĞĐŝĂƚĞĚ ƚŚĞ ŵŽƐƚ͕ ƵƉ Ϯ͘ϯй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐƵƐƚĂŝŶĞĚ ŝŶƚĞƌĞƐƚ ŝŶ E/d, ;нϰ͘ϵйͿ͕ 'h Z Edz ;нϮ͘ϮйͿ ĂŶĚ ^^ ;нϰ͘ϮйͿ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ƌŝƐŝŶŐ ϭ͘Ϯй ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƵƉƟĐŬƐ ŝŶ KEK/> ;нϱ͘ϬйͿ ĂŶĚ DK /> ;нϬ͘ϴйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϳй ĂƉŝĞĐĞ ĂƐ t W/ ;нϳ͘ϰйͿ͕ >/E< ^^hZ ;нϮ͘ϲйͿ ĂŶĚ E' D ;нϭ͘ϰйͿ ĐůŽƐĞĚ ŚŝŐŚĞƌ͘

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ Ͳ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ ĚĞĐůŝŶĞ ƌĂƟŽͿ Ͳ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϲ͘ϳdž ĨƌŽŵ ϰ͘ϭdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĂƐ ϰϳ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϳ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŽĚĂLJ͛Ɛ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ E'&>KhZ ;нϭϬ͘ϬйͿ͕ & D ;нϵ͘ϬйͿ ĂŶĚ t W/ ;нϳ͘ϰйͿ ǁŚŝůĞ ƚŚĞ ǁŽƌƐƚ h ͲWZKW ;Ͳ ϰ͘ϳйͿ͕ E , K ;Ͳϰ͘ϳйͿ ĂŶĚ E ^d> ;Ͳϯ͘ϯйͿ ĚĞĐůŝŶĞĚ ƚŚĞ ŵŽƐƚ͘ &ŽůůŽǁŝŶŐ ĨŽƵƌ ĐŽŶƐĞĐƵƟǀĞ ĚĂLJƐ ŽĨ ĂƉƉƌĞĐŝĂƟŽŶ͕ ǁĞ ĚŽ ŶŽƚ ƌƵůĞ ŽƵƚ ƚŚĞ ƉŽƐƐŝďŝůŝƚLJ ŽĨ ƐŽŵĞ ƉƌŽĮƚ ƚĂŬŝŶŐ ůĂƚĞƌ ŝŶ ƚŚĞ ǁĞĞŬ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ĂƐ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁĂdžĞƐ ƐƚƌŽŶŐĞƌ͕ ŽƵƌ ŶĞĂƌ ƚĞƌŵ ŽƵƚůŽŽŬ ŽŶ ƚŚĞ ŵĂƌŬĞƚ ƌĞŵĂŝŶƐ ƉŽƐŝƟǀĞ͘

ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ EŝŐĞƌŝĂŶ ƌĞǁĞƌŝĞƐ WůĐ EŝŐĞƌŝĂŶ ƌĞǁĞƌŝĞƐ WůĐ ;͞ƚŚĞ ŽŵƉĂŶLJ͟ Žƌ ͞E ͟Ϳ ŝƐ ƚŚĞ ůĂƌŐĞƐƚ ďƌĞǁŝŶŐ ĐŽŵƉĂŶLJ ŝŶ EŝŐĞƌŝĂ ǁŝƚŚ ƚŽƚĂů ŝŶƐƚĂůůĞĚ ďƌĞǁŝŶŐ ĐĂƉĂĐŝƚLJ ŽĨ ŽǀĞƌ ϭϲ͘ϱŵŚů ĂŶĚ ƌĞǀĞŶƵĞ ŽĨ Eϯϭϯ͘ϳďŶ ĂƐ Ăƚ &z͗ϮϬϭϲ ĂĐĐŽƵŶƟŶŐ ĨŽƌ ŽǀĞƌ ϲϱ͘Ϭй ŽĨ ŵĂƌŬĞƚ ƐŚĂƌĞ͘ /Ŷ ŝƚƐ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ͕ ƌĞǀĞŶƵĞ ŐƌĞǁ ϭϰ͘ϰй zͲŽͲz ;ĨƌŽŵ EϮϮϮ͘ϳďŶ ŝŶ ϵD͗ϮϬϭϲ ƚŽ EϮϱϰ͘ϳďŶ ŝŶ ϵD͗ϮϬϭϳͿ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ŚŝŐŚĞƌ ƉƌŝĐĞƐ ĂƐ ǁĞůů ĂƐ ƐƚĞĂĚLJ ǀŽůƵŵĞ ŐƌŽǁƚŚ͘ ŽƐƚ ŽĨ ƐĂůĞƐ ƌĂƟŽ ŚŽǁĞǀĞƌ ĚĞƚĞƌŝŽƌĂƚĞĚ ƚŽ ϱϴ͘ϭй ŝŶ ϵD͗ϮϬϭϳ ƌĞůĂƟǀĞ ƚŽ ϱϲ͘ϯй ŝŶ ϵD͗ϮϬϭϲ ƚŚŽƵŐŚ KƉĞƌĂƟŶŐ ĞdžƉĞŶƐĞ ŵĂƌŐŝŶ ŵŽĚĞƌĂƚĞĚ ĨƌŽŵ Ϯϲ͘ϵй ƚŽ Ϯϲ͘ϭй͘ dŚĞ ŝŵƉĂĐƚ ŽĨ ĐŽƐƚ ŵŽĚĞƌĂƟŽŶ ǁĂƐ ĨƵƌƚŚĞƌ ƐƚĞĚ ďLJ Ă ϰϬϰ͘ϴй ũƵŵƉ ŝŶ ŽƚŚĞƌ ŝŶĐŽŵĞ ;ĨƌŽŵ EϬ͘ϰďŶ ƚŽ EϮ͘ϬďŶ ŝŶ ϵD͗ ϮϬϭϳͿ ĂŶĚ ĂůƐŽ Ă ƐŝŐŶŝĮĐĂŶƚ ϮϮ͘ϲй zͲŽͲz ;ĨƌŽŵ EϭϬ͘ϮďŶ ƚŽ Eϳ͘ϵďŶ ŝŶ ϵD͗ ϮϬϭϳͿ ƌĞĚƵĐƟŽŶ ŝŶ EĞƚ ĮŶĂŶĐĞ ĐŽƐƚ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ E ƌĞĐŽƌĚĞĚ Ă ϭϵ͘ϰй zͲŽͲz ŐƌŽǁƚŚ ŝŶ ŶĞƚ ŝŶĐŽŵĞ ;ĨƌŽŵ EϮϬ͘ϭďŶ ƚŽ EϮϰ͘ϬďŶ ŝŶ ϵD͗ ϮϬϭϳͿ͘ ^ŝŵŝůĂƌůLJ͕ Yϯ͗ϮϬϭϳ ƐƚĂŶĚĂůŽŶĞ ǁĂƐ ůĂƌŐĞůLJ ƉŽƐŝƟǀĞ ĂƐ ZĞǀĞŶƵĞ ƌŽƐĞ ϭϮ͘ϵй YͲŽ ͲY ;ĨƌŽŵ Eϲϱ͘ϯďŶ ƚŽ Eϳϯ͘ϳďŶ ŝŶ Yϯ͗ϮϬϭϳͿ͘ ŽƐƚ ŽĨ ƐĂůĞƐ ĂŶĚ KƉĞƌĂƟŶŐ ĞdžƉĞŶƐĞƐ ƌŽƐĞ ϭϱ͘ϯй ĂŶĚ ϭϲ͘ϱй ƚŽ Eϰϴ͘ϯďŶ ĂŶĚ EϮϮ͘ϲďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ EŽƚǁŝƚŚƐƚĂŶĚŝŶŐ͕ ŽƚŚĞƌ ŝŶĐŽŵĞ ƌĞĐŽƌĚĞĚ Ă ϳϵ͘ϱй ũƵŵƉ ďƵƚ ǁĂƐ ƵŶĂďůĞ ƚŽ ŽīƐĞƚ ƚŚĞ ŝŵƉĂĐƚ ŽĨ ŶĞƚ ĮŶĂŶĐĞ ĐŚĂƌŐĞ ;ƵƉ ϱϮ͘ϵй YͲŽͲY ĨƌŽŵ Eϭ͘ϳďŶ ƚŽ EϮ͘ϲďŶͿ͘ ,ĞŶĐĞ͕ ƚŚĞ ŽŵƉĂŶLJ ƌĞĐŽƌĚĞĚ Ă ŵĂƐƐŝǀĞ ĚĞĐůŝŶĞ ŝŶ W d͕ ĚŽǁŶ ϳϱ͘ϭй YͲŽͲY ĨƌŽŵ Eϭ͘ϬďŶ ƚŽ EϮϱϵ͘ϵŵ͘ ůƚŚŽƵŐŚ ŝƚƐ ƋƵĂƌƚĞƌůLJ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ Yϯ͗ ϮϬϭϳ ǁĂƐ ƐƵďͲŽƉƟŵĂů͕ ǁĞ ŵĂŝŶƚĂŝŶ Ă ƉŽƐŝƟǀĞ ŽƵƚůŽŽŬ ŽŶ EŝŐĞƌŝĂŶ ƌĞǁĞƌŝĞƐ ĂƐ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ƌĞďŽƵŶĚ ŝŶ ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ďƌŽĂĚĞƌ ĞĐŽŶŽŵLJ ƚŽ ďĞ ƉŽƐŝƟǀĞ ĨŽƌ ƚŚĞ ĐŽŵƉĂŶLJ͘ tĞ ƚŚĞƌĞĨŽƌĞ ĞdžƉĞĐƚ ƚŽ ƐĞĞ ƐƚƌŽŶŐĞƌ ĞĂƌŶŝŶŐƐ ŝŶ ŝƚƐ &z͗ϮϬϭϳ ƌĞƐƵůƚ͘

Afrinvest Securities Limited (RC 603 315) (A Dealing Member of the Nigerian Stock Exchange)

Wednesday, January 10, 2018

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

THISDAY AFRINVEST 40

Current Price

Previous Current Price Weighting Change

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

1,671.77

1.96%

8.4%

67.2%

24.3%

7.6%

8.0x

1.0x

3.4%

1

Guaranty Trust Bank PLC

44.98

2.2%

21.8%

10.4%

10.9%

26.0%

4.3%

9.4x

2.3x

4.6%

10.5% 10.7%

2

Zenith Bank PLC

30.00

4.9%

14.1%

17.0%

15.7%

21.7%

3.2%

5.9x

1.2x

6.7%

16.9%

3

Nigerian Brew eries PLC

140.00

0.0%

8.6%

3.8%

3.7%

18.9%

8.6%

34.5x

6.3x

2.6%

2.9%

4

Nestle Nigeria PLC

1,450.00

-3.3%

6.9%

-6.8%

-6.8%

78.4%

19.0%

37.8x

25.0x

1.7%

2.6%

5

Dangote Cement PLC

237.50

1.4%

5.9%

3.3%

3.3%

30.4%

15.7%

16.4x

4.7x

3.6%

6.1%

4.9%

5.8%

14.4%

14.6%

2.6%

0.3%

16.4x

0.6x

2.0%

6.1%

4.2%

4.5%

7.8%

6.2%

15.1%

2.0%

4.6x

0.6x

5.8%

21.9%

5.0x

6

FBN Holdings Plc

10.07

7

Access Bank PLC

11.26

8

United Bank for Africa PLC

11.30

1.8%

4.4%

9.7%

8.5%

17.2%

2.2%

9

Ecobank Transnational Inc

18.19

2.5%

3.3%

7.0%

11.8%

-14.6%

-1.3%

10

SEPLAT Petroleum Development C

660.00

1.5%

3.0%

5.4%

5.4%

-12.4%

-6.7%

11

Stanbic IBTC Holdings PLC

42.01

0.0%

2.7%

1.2%

2.7%

28.7%

3.4%

9.7x

102.00

2.0%

2.3%

8.5%

8.5%

4.5%

1.4%

71.8x

3.6x

0.6%

1.4%

50.00

0.0%

1.7%

11.4%

11.4%

47.1%

9.8%

4.5x

7.6x

2.0%

22.4%

4.8%

39.0%

0.8x

6.6%

20.2%

0.7x

3.4%

-19.1%

0.8x 2.5x

-15.8% 1.4%

10.3%

12

Guinness Nigeria PLC

13

Lafarge Africa PLC

14

Fidelity Bank PLC

2.94

0.7%

1.4%

19.5%

14.0%

8.0%

1.1%

2.6x

0.4x

15

Oando PLC

5.99

0.0%

1.2%

0.0%

0.0%

40.7%

4.2%

2.7x

0.6x

16

Dangote Sugar Refinery PLC

21.80

0.5%

1.2%

9.0%

7.1%

23.8%

10.3%

8.5x

3.7x

2.3%

11.8%

17

Okomu Oil Palm PLC

67.69

0.0%

1.0%

0.0%

0.0%

37.4%

25.9%

9.0x

2.9x

2.2%

11.1%

2.3%

0.2%

3.7%

2.8%

11.2%

18

Unilever Nigeria PLC

44.00

1.1%

7.3%

9.4%

50.3%

8.4%

27.1x

10.3x

19

International Brew eries PLC

56.99

0.0%

0.8%

4.6%

3.6%

24.6%

7.4%

59.7x

13.6x

20

Flour Mills of Nigeria PLC

32.50

1.9%

0.7%

12.1%

12.1%

10.4%

2.6%

8.9x

0.9x

21

Transnational Corp of Nigeria

1.83

3.4%

0.7%

25.3%

23.6%

19.6%

4.1%

7.3x

1.3x

22

UAC of Nigeria PLC

17.90

2.3%

0.6%

5.9%

5.9%

6.3%

2.2%

11.5x

0.8x

23

Diamond Bank PLC

2.11

6.6%

0.7%

40.7%

34.4%

2.5%

0.3%

8.5x

0.2x

24

Total Nigeria PLC

230.00

0.0%

0.5%

0.0%

2.17

9.0%

0.6%

180.00

0.8%

0.4%

0.0%

0.5%

25

FCMB Group Plc

26

11 PLC

37.0%

1.7%

13.7% 5.5%

8.7% 11.7%

0.0%

37.3%

7.4%

8.6x

3.0x

2.6%

11.7%

37.3%

3.8%

0.6%

6.3x

0.2x

4.6%

15.9%

-7.5%

-7.5%

32.6%

12.0%

9.6x

2.7x

4.4%

10.5%

9.2%

13.1%

44.3%

3.7%

12.0x

5.3x

27

Forte Oil PLC

47.50

28

PZ Cussons Nigeria PLC

21.68

3.2%

0.4%

5.2%

2.5%

10.7%

5.0%

20.5x

2.1x

29

Cadbury Nigeria PLC

16.77

-0.4%

0.4%

7.0%

7.5%

4.5%

1.6%

47.8x

2.8x

30

Presco PLC

68.00

2.3%

0.3%

-0.7%

-0.7%

42.9%

25.9%

3.4x

1.2x

2.2%

29.8%

31

NASCON Allied Industries PLC

21.28

5.0%

0.3%

15.0%

10.7%

53.4%

18.1%

12.0x

5.5x

3.3%

8.3%

32

UPDC Real Estate Investment Tr

10.00

0.0%

0.3%

0.0%

0.0%

0.8x

6.8%

33

Union Bank of Nigeria PLC

7.50

-2.6%

0.3%

-3.8%

-0.1%

5.6%

1.2%

34

Julius Berger Nigeria PLC

28.00

0.0%

0.3%

0.0%

0.0%

-12.2%

-1.2%

35

Sterling Bank PLC

1.52

2.7%

0.3%

40.7%

34.5%

6.1%

0.6%

36

Dangote Flour Mills Plc

16.17

10.0%

0.3%

33.1%

33.1%

61.6%

15.8%

5.2x

2.3x

37

GlaxoSmithKline Consumer Niger

21.80

-1.4%

0.2%

0.9%

0.9%

61.2%

23.6%

4.5x

1.6x

38

Chemical and Allied Products P

35.76

0.0%

0.2%

5.2%

0.2%

84.3%

38.5%

15.6x

11.0x

6.2%

6.4%

Beta Glass PLC

51.31

0.0%

0.1%

0.0%

0.0%

18.4%

11.9%

7.2x

1.2x

1.9%

13.8%

7.21

0.0%

0.1%

0.0%

0.0%

4.7%

2.8%

21.4x

1.0x

5.5%

4.7%

39 40

Transcorp Hotels Plc T o p 10 G a ine r s T ic k er

9.6x

8.0x

8.3% 2.3%

4.9% 2.1%

0.5x

10.4%

1.5x

-8.1%

0.4x

12.5% 19.1% 1.4%

22.1%

T o p 10 T r a d e s b y V o l u m e

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

D A N GF LOUR

16.17

10.0%

D IA M ON D B N K

219.7

6.6%

FCM B

2.17

9.0%

T R A N SC OR P

139.9

3.4%

WA P IC

0.58

7.4%

FCM B

74.6

9.0%

2.11

6.6%

Z EN IT H B A N K

41.9

4.9%

H ON YF LOUR

2.78

5.3%

A C C ESS

41.1

4.2%

C H A M P ION

2.29

5.0%

F ID ELIT YB K

27.0

0.7%

C A VER T ON

1.47

5.0%

UB A

23.1

1.8%

C ON OIL

34.03

5.0%

FB NH

21.7

4.9%

N A SC ON

21.28

5.0%

GUA R A N T Y

17.7

2.2%

FB NH

10.07

4.9%

UC A P

14.6

-0.2%

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

UA C -P R OP

3.03

-4.7%

NB

1437.9

0.0%

NA HCO

4.29

-4.7%

Z EN IT H B A N K

1232.3

4.9%

N EST LE

1450.00

-3.3%

GUA R A N T Y

789.2

2.2%

7.50

-2.6%

N EST LE

659.7

-3.3%

D IA M ON D B N K

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s T ic k er

UB N

T ic k er

GLA XOSM IT H

21.80

-1.4%

A C C ESS

455.2

4.2%

C A D B UR Y

16.77

-0.4%

D IA M ON D B N K

441.2

6.6%

4.14

-0.2%

D A N GC EM

336.1

1.4%

UB A

261.6

1.8%

T R A N SC OR P

254.9

3.4%

FB NH

214.6

4.9%

UC A P

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

41

˾ WEDNESDAY, JANUARY 10, 2018

MARKET NEWS

Vitafoam Shareholders to Receive 15kobo Dividend Despite Loss Goddy Egene In spite of posting a loss for the year ended September 30, 2017, Vitafoam Nigeria Plc has recommended a dividend of N156.36 million for the shareholders. The company, apparently affected by the inclement operating environment, announced a loss in its operations. But despite the loss, the directors have recommended the dividend, which translates to 15 kobo per share.

Details of the audited results of the company showed that revenue stood at N17.696 billion, up by N4.125 billion or 30 per cent the N13.569 billion recorded in 2016. Cost of sales rose by N3.698 billion, that is 41.51 per cent from N8.907 billion to N12.606 billion. Consequently, the company ended with a gross profit at N5.089 billion, indicating a growth from N4.661 billion in 2016. Although other gains stood at N283.565 million compared with N284.856 million in 2016,

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

administrative expenses dropped slightly from N3.426 billion to N3.313 billion. However, distribution costs rose from N632 million to N726.182 million, just as operating profit rose from N888 million to N1.333 billion. While finance income dropped from N68.257 million to N61.152 million, finance cost jumped by about 54 per cent from M895.059 million to N1.376 billion due to high interest on loans and overdraft. This reduced profit before tax to N18.133 million from

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 08Jan-2018, unless otherwise stated.

N61.198 million in 2016. An increase in the tax expense further compounded the problem of the company. Tax expense increased from N93.23 million to N127.69 million, compared with N145.823 million, making the company to close the year with a loss of N127.69 million compared with N32.032 million. The Group Managing Director and Chief Executive Officer of Vitafoam, Mr. Taiwo Adeniyi had last said the company’s shareholders are their pride. “Our shareholders are our

pride. We have an obligation to work very hard to ensure that they are rewarded. We have always sustained our culture of shareholder value and we shall continue to appreciate our shareholders’ advice on how to move the company forward. It has been difficult to plan under recession,” Adeniyi said. Speaking on the manufacturing sector, Vitafoam boss noted that companies that import most of their raw materials had challenges with the exchange and availability of Dollars due

to improper alignment of fiscal and monetary policies. According to him, the federal government’s policy of preferential allocation of Dollars to genuine manufacturers did not achieve desired result because it is cashed backed. He explained that the manufactures could not take advantage of the special window for forex because many of them could not back their high demand with cash while the banks who are supposed to lend money had liquidity problem.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 185.75 185.80 45.99% Nigeria International Debt Fund 238.94 238.99 12.75% 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 0.77% ACAP Income Funds 0.64 0.64 -1.27% 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 16.80% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.10 19.68 4.54% ARM Discovery Fund 403.50 415.67 3.71% ARM Ethical Fund 27.95 28.80 2.31% ARM Money Market Fund 1.00 1.00 16.83% 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 158.04 159.15 4.18% AXA Mansard Money Market Fund 1.00 1.00 16.28% 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 1,161.12 1,162.29 8.46% FBN Heritage Fund 143.34 144.77 1.97% FBN Money Market Fund 100.00 100.00 16.10% FBN Nigeria Eurobond (USD) Fund - Institutional $113.98 $114.09 1.31% FBN Nigeria Eurobond (USD) Fund - Retail $113.31 $113.42 1.32% FBN Nigeria Smart Beta Equity Fund 162.79 165.14 -5.42% 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 1.31 1.34 53.72% Legacy Short Maturity (NGN) Fund 2.89 2.89 16.64% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,039.54 3,078.79 38.15% Coral Income Fund 2,475.07 2,475.07 18.73% 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 16.51% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 16.60% Vantage Balanced Fund 2.15 2.18 2.04% Vantage Guaranteed Income Fund 1.00 1.00 18.39%

Kedari Investment Fund (KIF) 115.08 115.08 18.61% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.21 1.23 0.60% Lotus Halal Fixed Income Fund 1,057.04 1,057.04 0.44% 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 15.38 15.50 9.01% Meristem Money Market Fund 10.00 10.00 16.70% 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 1.26 1.28 6.08% PACAM Fixed Income Fund 11.07 11.14 0.32% PACAM Money Market Fund 10.00 10.00 14.07% 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 133.85 136.28 32.12% 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 1.49 1.49 0.23% 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 2,300.30 2,315.80 2.47% Stanbic IBTC Bond Fund 178.68 178.68 1.26% Stanbic IBTC Ethical Fund 1.04 1.05 3.47% Stanbic IBTC Guaranteed Investment Fund 221.45 221.45 0.54% Stanbic IBTC Iman Fund 182.19 184.54 1.81% Stanbic IBTC Money Market Fund 100.00 100.00 16.79% Stanbic IBTC Nigerian Equity Fund 9,992.14 10,118.39 3.28% Stanbic IBTC Dollar Fund (USD) 1.06 1.06 0.00% 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 1.35 1.37 20.78% United Capital Bond Fund 1.57 1.57 27.95% United Capital Equity Fund 0.94 0.96 2.70% United Capital Money Market Fund 1.00 1.00 15.30% United Capital Money Market Fund 103.00 103.00 4.60% United Capital Money Market Fund 1.10 1.10 15.40% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.90 13.09 2.35% Zenith Ethical Fund 13.53 13.69 2.19% Zenith Income Fund 19.11 19.11 1.02%

REITS NAV Per Share

Yield / T-Rtn

11.41 132.75

1.01% 0.22%

Bid Price

Offer Price

Yield / T-Rtn

12.11 151.07 114.58

12.21 154.21 116.72

-0.08% 5.74% 4.88%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

5.04 9.86 18.22 20.35 151.08

5.08 9.94 18.32 20.55 153.08

81.79% 40.03% 53.65% 27.41% 18.87%

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

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T H I S D AY WEDNESDAY JANUARY 10, 2018

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WEDNESDAY JANUARY 10, 2018 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

North Korea, South Korea Agree to Hold Military Talks - Joint Statement North and South Korea agreed to hold military talks, a joint statement said after the two Koreas engaged in formal dialogue on Tuesday for the first time in more than two years, according to a Reuters report. North Korea also decided to send a high-ranking delegation and a cheering squad to the Pyeongchang Winter Olympics in South Korea next month, but the head of its delegation in the talks on Tuesday expressed negative sentiment over the mention of denuclearisation during Tuesday’s discussions, the South Korean government said in a statement. The two sides, according to AFP,

decided to hold military talks and to restore a military hotline closed since February 2016. Seoul and Olympic organisers have been keen for Pyongyang – which boycotted the 1988 Summer Games in the South Korean capital – to take part in what they repeatedly proclaimed a “peace Olympics” in Pyeongchang next month. But the North had given no indication it would do so until leader Kim Jong-Un’s New Year address last week, instead pursuing its banned weapons programmes in defiance of United Nations sanctions, launching missiles

Polish PM Sacks Key Ministers in Moves to Mend EU Ties Poland’s new right-wing Prime Minister Mateusz Morawiecki sacked his defence and foreign ministers in a major cabinet reshuffle on Tuesday, as he seeks to mend strained ties with the country’s EU partners, AFP reports. The prime minister is due to fly to Brussels for talks with European Commission President Jean-Claude Juncker later Tuesday focused on the EU’s unprecedented disciplinary procedure against Warsaw over its controversial judicial reforms, which Brussels says threaten the rule of law. Ahead of his departure, it was announced that defence minister Antoni Macierewicz and foreign minister Witold Waszczykowski lost their jobs along with environment minister Jan Szyszko, among others, at an official ceremony held at the presidential palace in Warsaw. Interior minister Mariusz Blaszczak took over the defence portfolio, while Jacek Czaputowicz, a deputy foreign minister with centrist views, will serve as foreign minister.

“We don’t want to be a dogmatic, doctrinaire or extremist government; we want to be a government that draws together the economy and society, as well as the European and global dimensions with the local level,” Morawiecki, who himself took office just last month, said as he greeted his new cabinet. Warsaw-based political analyst Eryk Mystewicz described the reshuffle as “a new opening with the EU that gives a strong signal to Europe.” “Morawiecki, Czaputowicz are not people who can be accused of wanting a Polexit.” Mystewicz said, adding that Czaputowicz as foreign minister “is a man from the centre who can give a new impetus to relations between Warsaw and Brussels.” In a major escalation against one of the bloc’s biggest states, Brussels last month triggered article seven of the EU treaty over what it sees as “systemic threats” to the independence of the Polish judiciary from the nation’s right-wing government.

capable of reaching the United States and detonating its sixth and most powerful nuclear test. “The North Korean side will dispatch a National Olympic Committee delegation, athletes,

the western state of Rakhine, where an estimated 655,000 Rohingya Muslims have fled from a military crackdown that followed militant attacks on security forces. “A free press is critical to a free society - the detention of journalists anywhere is unacceptable. The Reuters journalists being held in Myanmar should be released immediately,” Clinton said in a Twitter post. Clinton was U.S. president for much of the 1990s when the

A bomb went off in the centre of the Pakistani city of Quetta, capital of the province of Balochistan, killing seven people and wounding 23 on Tuesday, Reuters reported police and hospital officials as saying. The blast targeted a police truck close to a high security area where the provincial assembly and other government offices are located. A suicide bomber was believed to have walked up to the truck and

clubs in Tel Aviv while partying with two friends. In it, Yair Netanyahu and his friends are heard teasing each other on who has paid for what during their night out on the town. When one of the friends tells Yair he spotted him 400 Shekels (about $115), Yair says: “No, that was for the hooker.” In other portions of the recording

Demarcation Line marking the border to the Peace House venue on the southern side, just yards from where a defector ran across in a hail of bullets two months ago.

blown himself up, senior police officer Abdul Razzaq Cheema told Reuters. The bodies of five policemen and two civilians, as well as the wounded victims, were brought to the Civil Hospital, Dr Waseem Baig told Reuters, adding that death toll could climb as some of the injured were in serious condition. The attack took place hours

after the provincial chief minister, Sanaullah Zehri, resigned, although there was no indication that the blast was connected to provincial politics. Zehri quit after some members of his PML Nawaz party rebelled against him to back a no-confidence motion in the provincial assembly, where he no longer commanded majority support.

Balochistan province is an important leg in the $57 billion China-Pakistan Economic Corridor of energy and infrastructure projects that China hopes to build as part of its “belt and road” initiative. Last month two suicide bombers stormed a packed Christian church in southwestern Pakistan killing nine people and wounding up to 56, in the latest attack claimed by Islamic State in the country.

Zimbabwe Anti-corruption Body Investigates Grace Mugabe’s PhD Zimbabwe’s anti-corruption agency is investigating whether the former First Lady Grace Mugabe fraudulently obtained a doctorate, according to BBC. Lecturers at the University of Zimbabwe filed a petition last week asking to investigate. She was awarded the PhD just months after enrolling at university in 2014 even though doctorates typically require years of full-time research. Mrs Mugabe has previously defended her academic record. In September, she told a governing party rally that she had earned her PhD despite her detractors’ scepticism. Mrs Mugabe was awarded a PhD by the University of Zimbabwe.

United States pressed Myanmar’s then military rulers to release democracy champion Aung San Suu Kyi from years of house arrest. Suu Kyi won a 2015 election and formed a government in early 2016, although she is barred by the constitution from becoming president. She has made no public comment on the case of the two Reuters reporters. Her spokesman has said the case would be handled according to the law.

Netanyahu Defends Son Taped Illicitly Outside Strip Club Israeli Prime Minister Benjamin Netanyahu on Tuesday defended his son over drunken remarks made between visits to strip clubs and taped illicitly that drew criticism for being derogatory of women, Reuters reports. The recording, aired late on Monday by Israeli Hadashot News, was made in 2015 while Netanyahu’s son, Yair, toured strip

Tuesday’s talks were held in Panmunjom, the truce village in the Demilitarised Zone that splits the peninsula. The North’s delegation walked over the Military

Seven Killed, 23 Injured in Pakistan Blast Aimed at Police Truck

Bill Clinton Joins Calls for Release of Reuters Journalists in Myanmar Calls grew on Tuesday for the release of two Reuters journalists in Myanmar who are facing accusations of breaching the country’s Official Secrets Act, with former U.S. President Bill Clinton urging that they be freed immediately, Reuters reports. The reporters, Wa Lone, 31, and Kyaw Soe Oo, 27, were detained on Dec. 12. They are due to make their second appearance in court in the main city of Yangon on Wednesday. The two had worked on Reuters coverage of a crisis in

cheerleaders, art performers’ squad, spectators, a taekwondo demonstration team and a press corps and the South will provide necessary amenities and facilities,” they said in a joint statement.

Yair offers “to arrange” an exgirlfriend for his friend in order to settle his debts, appears to rate strippers’ skills and appearances and is embarrassed by a late-night phone-call from his mother. Yair issued a statement in which he said the news report was salacious, the recording illegal and that he was inebriated at the time.

But lecturers at the same institution are behind the petition to investigate how she obtained the qualification. Zimbabwe Independent, a privately owned newspaper, quotes the academics’ petition as saying they had no knowledge of her 2014

graduation until they heard media reports: “This was a shock to many members of the department as most members never [saw] or heard about the proposal, progress reports, thesis examiners and outcome of such a study by the candidate.”

Local media report that Mrs Mugabe’s doctoral thesis has not been made public, breaking with usual practice. Mrs Mugabe was personally capped by her husband and then-president Robert Mugabe, who was also the chancellor of the University of Zimbabwe.

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49

NEWSEXTRA

Obasanjo: African Leaders Becoming Strategic, Liberal-minded Obinna Chima Former President, Chief Olusegun Obasanjo, yesterday pointed out that African leaders were becoming more strategic, open and liberal-minded. Obasanjo, who is also the Chairman of the Africa Initiative for Governance (AIG) Panel of Advisors, also said African leaders “no longer take no for answer.” He said this while delivering a public lecture titled: ‘Leadership in the African Context – How to Drive Transformational Change in African Countries,’ at the Blavatnik School of Government, University of Oxford. According to a statement, the lecture was made possible by a partnership between the

AIG and the Blavatnik School of Government, based on the shared purpose of building good governance and public leadership in Africa. Obasanjo said: “Transformational Leadership abhors complacency. It requires proactivity, thinking out of the box, resilience and consistency. “Shrewdness in policy development and creativity in implementation are virtues which must not be ignored. Transformational Leadership is not a popularity contest.” The lecture had participants converging at the University of Oxford from within and outside the United Kingdom to hear Obasanjo’s insights on driving sustainable and transformative change on the African continent.

In his comment, AIG’s Founder and Chairman, Mr. Aigboje AigImoukhuede, described Obasanjo as a statesman of the world. Aig-Imoukhuede added: “Beyond his contributions as two-time Head of State of Nigeria, he continues to support impactful causes in Africa and all over the world. “We are privileged to have him as the Chairman of our Panel of Advisors and appreciative of his taking the time to share his wealth of experience and learnings with the world’s future leaders.” Earlier, the Dean of the Blavatnik School of Government,

Professor Ngaire Woods, said: “It was a great honour to host Chief Olusegun Obasanjo, a leader who handed power to a democratically-elected President in Nigeria in 1979, a leader who opposed the human rights abuses of the military coup government of the 1990s – suffering three years of imprisonment as a result – and who was twice elected President serving both his own country, and the continent of Africa, with great distinction. “At theblavatnik School of Government we have a mission to inspire better government and public policy around the world, and we are grateful to

Africa Initiative for Governance for creating such a special and inspiring opportunity for all our students and faculty, as well as for Oxford, and for students who attended from across the UK as a whole.” The visit to Oxford also served as a forum for the AIG Board of Directors, Panel of Advisors and Management to interact with the six AIG Scholars currently studying for a Master of Public Policy at the Blavatnik School of Government, and to further convey to them the ethos of the AIG Scholarships and the meaning of Leadership. In August 2017, AIG announced

the award of the inaugural AIG Scholarships to six young and talented West Africans Emokiniovo Akpughe (Nigeria), Efosa Trevor Edobor (Nigeria), Abdul-Fatawu Z. Hakeem (Ghana), Chukwunonso Iheoma (Nigeria), Oluwapelumi Simpson (Nigeria) and Emmanuel Taiwo (Nigeria). In addition to the scholarships, the AIG Fellowships have also been established at the Blavatnik School of Government for individuals from West Africa who have demonstrated evidence of outstanding contribution to the public good, through exemplary leadership in public service.

NECO Releases Nov/DEC SSCE Examination Results Laleye Dipo in Minna The National Examinations Council (NECO) yesterday made history by releasing the results of the November /December Senior School Certificate Examination it conducted between November and December 2017 in a record 38 days. In the past, NECO had released the results 80 days after the conduct of the last paper, a situation that had hampered admission into tertiary institutions by successful candidates. NECO Registrar, Professor Charles Uwakwe, who announced the results in Minna, Nigeri State, said of the 42,429 candidates that sat for the examination, 24,098 representing 56.79 per cent passed with five credits and above including English and Mathematics. Uwakwe also said 32,917 candidates passed with five credits and above irrespective of English Language and Mathematics, adding that 32,701 candidates passed at credit level and above in Mathematics and 29,258 scored credit and above in English Language. The Registrar said the examination body recorded

a marginal decrease in the number of malpractices with 4,425 cases representing 5.9 per cent decrease. Uwakwe attributed the early release of the results to “the council’s new work ethos that borders on efficient service delivery “It is also to enable candidates who wish to gain admission into higher institutions utilise the results before the end of admission process for the 2017/2018 academic session “This is another landmark in business of conducting a hitchfree and credible examination in the country. It is therefore not an overstatement that the council is a leading light in the examination industry as it continues to be in tune with best practices in the global assessment industry.” An analysis of the results showed that Ogun State which fielded 5,687 candidates led the 36 states and Abuja by recording 91.42 per cent pass followed by Akwa-Ibom with 1,118 candidates which recorded 87 per cent pass and Oyo State with 8, 513 candidates recording 86.90 percent pass. Like in the June/July SSCE, Zamfara State fielded 230 candidates, and recorded 12.90 per cent pass to come last.

Teenage Bride Poisons Husband in Kano Ibrahim Shuaibu in Kano The Kano State Police Command yesterday confirmed the arrest of Sadiya Umar, a teenage bride, who allegedly poisoned her husband, Umar Sani, to death two weeks after their wedding. The late Sani who allegedly ate the poisoned meal served by his newly wedded wife, died a day after the incident while receiving treatment at the Aminu Kano Teaching Hospital (AKTH). The incident occurred at Yakasai Quarters, within the Kano metropolis. The spokesman of the Kano Police Command, Magaji

Musa Majia, said the woman was arrested two days after she evaded arrest. “Three relations of the late husband reported the incident to Kofar Wambai police station in the Kano metropolis. After the police received the report, they went to the deceased matrimonial home at Yakasai quarters to effect her arrest, but found that the bride had ran away until yesterday when she was eventually arrested.” Majiya added that the woman has already been handed over to the Criminal Investigation Department (CID) for interrogation. He also confirmed the burial of the late husband.

GATHERING FOR YOUTH SUMMIT

L-R: Oyo State Governor, Senator Abiola Ajimobi; Vice-President Yemi Osinbajo; Osun State Governor, Rauf Aregbesola; and his deputy, Mrs. Titi Laoye-Tomori, during the South-west regional youth summit, at the WOCDIF Centre, Osogbo....yesterday

Southern, Middle Belt Leaders Demand IG’s Removal over Benue Killings Shola Oyeyipo Leaders from Southern and the Middle Belt regions under the auspices of Southern and Middle Belt Forum have jointly condemned the unchecked killings that have gone on in Benue State and demanded the removal of the Inspector General of Police (IG), Ibrahim Idris. Urging the presidency and all relevant security agencies to stop the carnage, the body in a statement jointly signed by Yinka Odumakin (South-west), Senator Bassey Henshaw (South-south), Prof Chigozie Ogbu (South-east) and Dr Isuwa Dogo (Middle Belt), stressed that if not urgently addressed, the killings are capable of destablising the unity in the country. They lambasted a statement credited to the IG after meeting with President Muhammadu Buhari at the Presidential Villa last Friday, where he was quoted to have said: “Obviously it is communal crisis, herdsmen are part of the community. They are Nigerians and are part of the community. Are they not?”

The leaders, who are particularly appalled by the level of killings that have gone on in the state in the last few days, were further displeased by the official indifference in condemning and going after the perpetuators of the deadly crimes. “These killings threaten the fragile unity of this country and the official handling of the fall-outs are proving worse than the very sinister act itself. “As things stand, the confidence of most sections of the county in the willingness of the federal government to protect them is badly shaken as the authority of the central government appears largely compromised,” the concerned Nigerians noted. According to the forum, in order to restore faith in the government and prevent a resort to self-help in the face of existential threats from killers, government must take some actions. “We demand the following: Immediate removal of the IG and his replacement for having

failed to effect the law against murderers and justifying crimes. “We have seen images of horror and wanton killings perpetrated by killer herdsmen who went on a killing spree and are now granting press conferences justifying why they carried out such a barbaric act. We are further embarrassed that the IG, who ordinarily should have gone after these criminals, has been making excuses for the murderers; against the call of his duty. “We consider the above remarks highly unbecoming of the no. 1 cop in Nigeria who should enforce the law against murderers. And it has shown clearly what the lopsided appointments into security forces can cause. “A multi-ethnic society requires a reflection of its plurality in the leadership of its security apparatus so that the type of balance required can be provided at all times. We must also express our reservations about the defeaning silence by the President about these killings; as we are yet to hear a word

directly from him over these cold-blooded murders, which many have seen as reprisals over the outlawing of open-grazing of cattle in Benue State,” the leaders bemoaned. They added: “We demand the immediate arrests of the killers and their sponsors. The federal government must disarm all herdsmen across the country immediately. “An urgent commencement of the unbundling of the Police structure so that states must have their own police to enforce laws made by their Houses of Assembly. “The president should address the country on these incidents and announce concrete measures to assure citizens that his government has not abdicated the primary responsibility of protecting lives and property. “The National Assembly should cut short its recess to address this national emergency,” they stated further. The forum also called on all statesmen and leaders across the country to speak up on this national disaster as silence is sinful.

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After Plotting APC’s Defeat, Gani Adams Pledges Allegiance to Ambode Gboyega Akinsanmi After staging disapproval rally against the All Progressives

Congress (APC) just before the 2015 general election, the leader of Oodua Peoples Congress (OPC), Mr. Gani Adams, yesterday pledged

Buhari Counsels Migrants to Stay at Home, Build Their Economies Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday counselled illegal migrants from Nigeria to remain in the country and strive to improve their economic scales instead of daring the deadly Sahara Desert and the Mediterranean Sea which have both claimed several lives. A statement by Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said the president gave the advice while receiving Rwandan Minister of Foreign Affairs, Hon. Louise Mushikiwabo, who visited the State House as Special Envoy of President Paul Kagame who will assume office this month as the new Chairman of African Union (AU He said Buhari told the envoy that Nigeria had taken it upon itself to bring back thousands of its citizens who are currently stranded in Libya. “Illegal migration is now a major issue in Africa. Many dare the Sahara Desert and the Mediterranean Sea to get into Europe, and many die in the process. Or they get into trouble, as we now see in Libya. I don’t

envy our position, as many Blacks claim to be Nigerians, even when they are not. “Our Embassies in North Africa are now overworked, trying to identify the true Nigerians. Most of the reasons they mention for migrating illegally are untenable. They should stay here, and see how they can improve their own economies, instead of risking their lives,” he was quoted as saying. Buhari, according to the statement, listed issues that Kagame, as the incoming Chairman of AU, would have to contend with. Such issues include: South Sudan, separatist agitation in Southern Cameroon, unrest in Togo, among several others in the continent. “Gaddafi’s long rule produced many people, whose only skill is how to shoot guns. Now, they are scattered around the continent, still with their weapons, and fomenting trouble,” Buhari was further quoted, adding that Nigeria was taking steps to curtail the development. In his submission, Mushikiwabo said Kagame looked forward to the counsel and support of the Nigerian President when he assumes office as the AU chairman this month.

allegiance to Lagos State Governor, Mr. Akinwunmi Ambode. Adams, who recently emerged the Aare Ona Kakanfo of Yorubaland-designate, also sought fresh relationship with the Lagos State Government and the people of the state irrespective of what happened shortly before the 2015 presidential election. He pledged allegiance to Ambode at the State House yesterday alongside the Chairman of the Aare Ona Kakanfo Inauguration Planning Committee, Mr. Gabriel Akinadewo, thus inviting the governor to his inauguration as the Aare Ona Kakanfo of Yorubaland on January 13. On March 16, 2015, Adams had led a considerable number of the OPC members from all South-west states in a violent rally he organised in support of former Goodluck Jonathan’s re-election. He had, also, led the rally against former Chairman of Independent

National Electoral Commission (INEC), Prof. Attahiru Jega in Lagos, who was allegedly believed to be working for the APC in the presidential contest especially. During the rally, the OPC members were then seen brandishing cutlasses, guns and knives among others along the Oworonsoki-Ojota highway and occupied one side of the highway, harassing pedestrians, motorists and other road users. But at a meeting with the governor yesterday, the OPC leader acknowledged that there was no permanent enemy or friend in politics, which he attributed to the late Premier of old Western Region, Chief Obafemi Awolowo. He, therefore, explained two rationales behind his visit to the State House, noting that it was first to establish a relationship with the Lagos State Government and second invite Ambode to his inauguration as the Aare Ona

Kakanfo of Yorubaland. Irrespective of what has happened, Adams said: “I want to build a relationship with you, personally, with the Lagos State Government and with the people of Lagos. Chief Awolowo said there is no permanent enemy or permanent friend in politics.” Aside, Adams acknowledged how the governor had transformed the state, noting that in the last two and half years, Ambode had succeeded in giving the State a major facelift and that appreciable level of progress had been recorded across the state. He said: “I am so particular about the Light up Lagos. Whenever I am driving from Lagos Island, I always ask my Chief of Staff or sometimes my driver if we are in Europe or we are still in Nigeria or the same Lagos that we are living before?” The OPC leader, equally, acknowledged what Ambode

had done to grow the South-west integration since assumption of office, noting that Lagos “is South-west even though it is the commercial nerve centre of Nigeria. I have realised that you are more interested in the integration of the South-west.” Also at the meeting, Ambode said Lagos over the years had remained the heartbeat of the future of the Yoruba race, assuring that no stone would be left unturned “to engender South-west and would continue to support initiatives towards its success. “We believe so much in the Yoruba race. We believe so much that Lagos remains the work of the future of the Yoruba race. We would not let the Yoruba race down. We believe so much in Nigeria. But we know where we are from and we know that everything that binds us together as one we would continue to support.”

Days of Fuel Scarcity are Over, NNPC Assures Nigerians The Nigerian National Petroleum Corporation (NNPC) yesterday assured Nigerians that there would no longer be fuel scarcity which had caused unbearable queues for Nigerians. The Group Managing Director of the corporation, Maikanti Baru, said this in Abuja at the 2018/2019 crude oil term contract bid opening. According to him, the opening of bids is an indication of President Muhammadu Buhari’s drive for transparency and accountability in the conduct of government business. He condemned the recent fuel shortage, which lasted a month, describing the corporation’s downstream counterparts as ‘unpatriotic’. Although the fuel scarcity has ended in major Nigerian cities, filling stations in many towns outside Abuja now sell petrol at about N200 per litre against the N145 official price. The NNPC chief did not, however, speak on this. “I am happy that this problem has been dealt with and the few pockets of non-compliance have been tackled. “It was unfortunate that due to the behaviour of a few bad eggs, the Christmas was a pain. We hope you will never be part of this incident and we also hope this type of thing never happens in the future. “NNPC is determined that this year there will be no fuel shortage. Definitely we have seen the last of it,’’ Baru said. He warned those that would be selected after the bid against

indulging in sharp practices. He said NNPC’s focus was to enhance production volume, while ensuring that the “best value is realised through competitive marketing of our crude grades to international refineries and graders’’. “In line with this aspiration, NNPC is collaborating with key stakeholders to improve the overall security of our production sites, crude export lines and other critical oil and gas infrastructure.’’ He urged the bidders not to patronise fraudsters who promise off takers selection assistance. Speaking with journalists shortly after the bid ceremony, Baru said the evaluation would take three to four weeks, adding that 16 per cent of the crude was going to North America. Also speaking, Mele Kyari, the Group General Manager, Crude Oil Marketing Division said “there would be no lobbying in lifting programmes.’’ “It is fully automated. The customer knows where and when they get their lifting and this is unparalleled.’’ Kyari said part of the procedure was that the companies selected must have a net worth of about 250 million dollars, turnover of 500 million dollars, letter of credit and years of experience. The News Agency of Nigeria (NAN) reported that 254 companies are bidding for the off take of Nigerian crude grades as against 224 in 2017. This round is the third call for bids under the present administration.

VISIT TO FINANCE MINISTRY

Minister of Finance, Mrs. Kemi Adeosun (left), with the Chief of Air Staff, Air Marshal Sadique Baba Abubakar, during the air chief’s visit o to the minister in Abuja....yesterday

Herdsmen Killings is Terrorism, Ethnic Cleansing, Says Fayose Victor Ogunje in Ado Ekiti Ekiti State Governor, Mr. Ayodele Fayose, has called on the federal government to put a permanent stop to the killings in Benue State by herdsmen, saying “what is happening in the state and other middle-belt states is more than a strive between herdsmen and local farmers, it has gotten to the level of terrorism and ethnic cleansing. “Just now, we heard the news of the herdsmen attacking the camp of mobile policemen, Mopol 13 in Benue State, killing two officers by slitting their throats. Do you call people who could invade the camp of mobile policemen in a guerilla manner and overpower armed Mopol mere Fulani herdsmen?” Fayose, who sympathised with the government and people of Benue State for the murder of 59

people last week, said President Muhammadu Buhari must take decisive steps to stop what he described as an attempt to wipe the Agatu and Tiv people of Benue State off the face of the earth. According to a statement yesterday by his Special Assistant on Public Communications , Lere Olayinka, Fayose also berated the likes of former President Olusegun Obasanjo for keeping silent while thousands of Nigerians were being killed by herdsmen. He said: “Nigerians are gradually beginning to see these killings as a case of hand of Esau, voice of Jacob. It is man inhumanity to man, clear cruelty and unacceptable.” The governor, who said all men of good conscience in the country should rise in condemnation of the nonchalant attitude of the federal government on the herdsmen

criminal activities, added: “What is happening in Benue and other states in the North-central is an issue that President Buhari must have to take decisive steps. We never had killings like these under previous administrations. It is one killing too many!” Fayose said no one can deny the fact that the Fulani herdsmen have become a nightmare to Nigerians. He said: “On the Global Terrorism Index, Fulani militant group (herdsmen) operating in Nigeria and parts of the Central African Republic is the fourth deadliest known terrorist group. “A group declared as the fourth deadliest terrorist group in the world as far back as 2015 cannot be handled with levity by the federal government as being done presently and the earlier President Buhari is made to realise that his main duty is protect the lives of all Nigerians, the better.

“Most importantly, the silence of the people does not amount to their inability to defend themselves. And it should be known to the powers that be that everybody in Nigeria has rights to life. “Taking lives cheaply and brazenly as being done by the herdsmen is the height of evil which no responsible government should allow. The federal government must have to take decisive steps to end this pogrom and stop playing to the gallery. “As it is, police do not have capacity to handle the situation in Benue and we will not be surprised if the herdsmen begin to move from one state to the other to cause further havoc because they are getting away with murder daily. Therefore, the federal government needs to do more; otherwise, Nigerians will begin to see the herdsmen as the APC hit group.”

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Buhari Will Restructure Nigeria in Second Term, Says VON Boss Ohanaeze, Afenifere parley in Enugu Christopher Isiguzo in Enugu Ahead of tomorrow’s parley between the leaderships of Ohanaeze Ndigbo and Afenifere in Enugu State, a chieftain of the All Progressives Congress (APC) in the South-east, Osita Okechukwu, yesterday assured the southern leaders that the much talked about political restructuring would be

addressed during President Muhammadu Buhari’s second term. Okechukwu who described the proposed parley as ‘handshake across the Niger,’ congratulated the President General of Ohanaeze Ndigbo, Chief John Nnia Nwodo, for convening the meeting of the southern leaders. In a statement made available to journalists, Okechukwu who is also the Director General of Voice of

Edo Govt to Prosecute Parents for Denying Children Access to Education Adibe Emenyonu inBenin City The Edo State Government yesterday said it would arrest and prosecute parents and guardians who violate the Child Rights Law, especially those who deny their children and wards access to education. The acting Chairman of the state Universal Basic Education Board (SUBEB) and Special Adviser to the Governor on Basic Education, Dr. Joan Osa Oviawe, disclosed this in Benin-city during an inspection tour of schools in the metropolis on the first day of the academic session. The state in 2007 domesticated the Child Rights Act, and the state Governor, Godwin Obaseki, in 2017, inaugurated the Family Court to try cases on violation of the Child Rights Law. Oviawe said: “The government will continue to promote a knowledge-based economy to drive economic growth and development. This cannot be achieved without solid basic education.” She frowned at the low turnout of pupils in the schools visited, stressing that the practice where

pupils fail to resume on the first week of resumption is not the best. The governor aide noted that “the state government will soon clampdown on parents or guardians who prevent their wards from attending schools but prefer that they be engaged as house assistants or hawkers.” She assured the people that the state would continue to provide facilities to give children quality education, adding: “Pupils must be in school to enjoy facilities provided by government. Lack of infrastructure is the least challenge in schools in the state. The main challenge for us is that of truancy in the first week of resumption.” Oviawe said SUBEB would work with education secretaries to train headmasters/mistresses on effective school management and community engagement. She warned that the state government would not also tolerate lateness and absenteeism among teachers and headmasters/ mistresses, adding that “existing laws and rules will be appropriately applied to sanction those found wanting.”

Nigeria (VON) however, appealed to Igbo and Yoruba leadership to support the Rails, Roads, and Power (RRP) projects, the economic restructuring initiated by President Buhari. He said the meeting provides an opportunity for Igbo delegates to lobby their Yoruba counterparts to support the creation of additional states in the South-east and a President of Igbo extraction in 2023 after Buhari’s second tenure. “To be candid, I’m one of those, who view the two as competing brothers rather than adversaries as some have internalised. I also share the view that the unity of the two will in no small measure enhance the unity of our dear country. “Before one suggests or proposes possible take-aways, from the meeting, let me without being immodest state that I only read about the meeting in one of the major national newspapers, the Vanguard to be specific. From the story one of the cardinal agenda is restructuring, if this is the case, one therefore may humbly seek permission to propose a way forward. “That delegates should take serious and deep analysis of

President Muhammadu Buhari’s economic restructuring captured in RRP - Rails, Roads and Power projects, as enunciated in his 2018 New Year Speech. “This to me is important because Mr. President has in the midst of competing options elected to first embark on massive critical infrastructure renewal, after which he will embark on political restructuring. The infrastructure renewal is an urgent programme in the face of huge infrastructural deficit. “I agree that some may argue, why not both together or no, we can do better infrastructural development in regional units. Those who argue the regional option born out of devolution of power, easily forget that our governors control about 48 per cent of monies accruing to the Federation Account and nobody queries them like the federal government,” Okechukwu quipped. Okechukwu said because the state governors were not held accountable like the president at the federal government, the state Houses of Assembly act

like Rubber-Stamp Assembly; leading to democracy recession compounded by lack of free and fair local government council election and no anti-graft agency at the local unit. While arguing that until will grow democracy at the state level and hold the state governors, chairmen and councillors accountable, we will never appreciate the critical infrastructural foundation being laid by President Buhari. It is in this connection that a large spectrum of Buhari’s supporters nationwide have agreed with him to first embark on RRP and to embark on political restructuring during his second term. “Mr. President I know, is aware that one of the cardinal programmes in our great party’s manifesto is devolution of powers from the center to the units. He has this on his cards. And therefore no political party, at least, not All Progressives Congress (APC) for sure will hold on ad infinitum to 68 items in the Exclusive List of the 1999 Constitution of the Federal Republic of Nigeria without amendment.” he said. He reminded the Igbo delegates

to the meeting the demand of President Buhari from our leaders in the last meeting at Aso Presidential Villa, where in response to their demand for an additional state to par the South-east with other geopolitical regions with six states, demanded that we should name the particular state of our choice, which has not been done. Okechukwu maintained that the meeting provides a golden opportunity for Igbo delegates to lobby their Yoruba brothers to buy into redressing this equity and justice placebo, of South-east region. Which some have dubbed shortchange or as some cynics posit, punishment because of the civil war. He noted that the rigorous process of state creation requires lobbying for buy in of this nature, adding that the buy-in of Yorubas will strengthen the hands of Mr. President in lobbying his brothers in the North to create additional state in the South east. Okekwukwu appealed to Ndigbo not to work out of the conference hitting the table, out of lamentation, without tangible take-away of items like state creation.

FG Orders Contractors to Show Tax Identification before Payment To undertake compliance spot checks on MDAs Ndubuisi Francis in Abuja The federal government has ordered vendors of Ministries, Departments and Agencies (MDAs) to display their Tax Identification Numbers (TINs) on their invoices before payments are effected by the MDAs. Government’s directive was handed down by the Minister of Finance, Mrs. Kemi Adeosun, to the Accountant General of the Federation, Alhaji Ahmed Idris. The order is part of efforts to block revenue leakages by the MDAs’ vendors. About N100 billion has been reportedly discovered as tax revenue shortfall by contractors between 2012 and 2017. According to a statement by her media aide, Mr. Oluyinka Akintunde. the minister, in a memo titled “Compliance with Tax Payments by Federal Government Vendors”, disclosed that persistent leakages in revenue remittances by vendors had been uncovered by the Government’s Project Lighthouse,

a systemwide revenue intelligence data-warehouse. The leakages, she said, were due to lack of TIN particularly on Value Added Tax (VAT), Withholding Tax (WHT) and other related inflows into the government coffers The minister said, “In order to address these lapses in the implementation of the 2017 Budget as well as boost the revenue accruable to the Government, all MDAs should be directed to insist that invoices submitted by vendors for payments must clearly state the TIN. “This is to confirm tax compliance by relevant government vendors before payments are effected.” She added that the directive to the government vendors is in compliance with the provisions of both the Federal Inland Revenue Service (FIRS) and Procurement Acts of 2007 respectively. Adeosun stated that spot checks would be undertaken on MDAs to confirm compliance with the directive.

CONSULTATIVE VISIT

Lagos State Governor, Mr. Akinwunmi Ambode (right), presenting an Eyo plaque to the Aare Ona Kakanfo-designate of Yorubaland, Chief Gani Adams, during the courtesy visit to the governor at the Lagos House, Ikeja....yesterday

Buhari Should Come to Benue State and Sympathise with the People, Says Tor Tiv George Okoh in Makurdi Paramount ruler of Tiv people of Benue State, Professor James Ayatse, has called on President Muhammadu Buhari, to visit the state and placate the people who are grieving heavily over the death of more than 50 persons killed by suspected Fulani herdsmen. The Tor Tiv who said this yesterday while speaking with journalists in Gboko Local Government Area, reminded the President that Benue people voted massively for him and as such, it behooves on him to identify with them at a time they have been brutally attacked and are mourning. He said: “I am expecting that the president will come but if he

doesn’t, then that means he is not treating us as friends. Even if he comes and waves at the people and say I feel your pain and sorrow, it will do a lot of good. When he comes himself, his whole being will be here and the impact on the people will be greater than sending representatives.” The monarch described the attacks as ‘barbaric’, calculated and coordinated genocide on the Tiv nation, decrying that it was done in a merciless manner and has continued unabated. He said the federal government reacted too slow to the warnings given by the state Governor, Samuel Ortom, of impending attacks by the herdsmen, stating that he is not satisfied with the efforts

made so far by the government in deploying troops to stop the attacks as well as the comments made by the Inspector General of Police (IG) describing the killings as ‘communal clash’. “I am yet to understand the reason for the slaughtering of our people. We feel very unhappy that it is happening to us as citizens of Nigeria. We sacrificed for the unity of this country. There is no household that you go to in Tiv land that you will not find a soldier who fought for this country. The killings have continued even as I talk with you. “The federal government has made some efforts but I am not satisfied with the efforts. For the IG to describe it as communal clash

is not fair. We do not share border with Fulani people so why would anyone say that it is a communal clash. “Anarchy and impunity have taken over our country. I hoped with the coming of the IG, Ibrahim Idris, we would see more seriousness.. We will see their action and the kind of mandate they have. If they (herdsmen) stop killing my people, then I will know the government is serious,” Ayatse maintained. Commenting on the proposed establishment of colonies by the federal government, he said the practice is alien especially to an area where the people are not cattle rearers, averring that there is already an existing law in the state.

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Four Abia Lawmakers Defect as APC Holds Rally in State Rally insensitive to plight of Nigerians, says PDP Onyebuchi Ezigbo in Abuja and Emmanuel Ugwu in Umuahia The Abia State chapter of the All Progressives Congress (APC) yesterday held its “mega rally” with the party leaders, saying that Abia and the other states of the South-east was ready to become APC controlled state come 2019. It was hyped since last year that President Muhammadu Buhari would grace the rally but he did not come. Rather the President was represented by his senior special assistant on political matters, Gideon Samali, who did not make any speech. However, the National Chairman of the party, Chief John OdigieOyegun and other national leaders, including the National Vice-Chairman, South-east, Senator Osita Izunaso and his South-west counterpart, Chief Segun Oni as well as the national auditor, George Moghalu. There was also strong solidarity from across the borders as Imo State governor, Chief Rochas Okorocha and former Enugu State Governor,

Mr. Sullivan Chime, were on hand to support the APC in Abia. At the Umuahia township stadium where the rally was held, Oyegun welcomed several defectors to APC including four members of the Abia State House of Assembly. They include Ikedi Ezekwesili (Umunneochi), Theophilus Ugboajah (Ikwuano), Martins Azubuike (Isiala Ngwa North), and Solomon Okogbue (Bende South). Oil magnate and former governorship aspirant on PDP platform, Chief Uche Ogah, also formerly declared for the APC. Oyegun said he had been invited to come to Abia since last year and having finally come to see things for himself he was convinced that Abia is now ready for APC.” “We have seen; we are satisfied,” he said, adding that he would hold the “APC stars” responsible if the party fails to produce the next governor of Abia come 2019. The APC national chairman acknowledged that Nigerians are passing through hardships under the present dispensation but encouraged people to keep

hope alive as according to him there is light at the end of the tunnel. “There is no question that there is hardship in the land,” he declared, insisting that President Buhari was not unmindful of what Nigerians are passing through hence he has been working hard to find solution to the problems. “The bad days are coming to an end; the good days are beginning,” Oyegun assured. Imo State Governor, Okorocha said the 2019 presents a second chance opportunity for Ndigbo to play the kind of politics that would bring them to the mainstream national politics. “We played bad politics in 2015. Regional politics will do us no good,” he said, adding that “every Igbo man should join APC.” Former Abia State Governor, Chief Orji Uzor Kalu, who is now the leader of the party in the state, vowed that he would put “everything I have to make this state APC,” adding that after scoring less than six per cent votes in 2015 APC was now in good stead to rake in 75 per cent of the

votes come 2019. He said: “Nobody in this state (Abia) can do anything” to stop APC from taking over the state in 2019. Earlier, the state Chairman, Hon Donatus Nwankpa, said the APC is witnessing fast growth in Abia and “we have determined to make Abia truly God’s own state.” To capture Abia State government, Nwankpa said that APC would take its campaign to every Abia home without indulging in hate speech. He also demanded more federal government presence in the as well as “more reasonable” federal appointments for Abia people. However, the Peoples Democratic Party (PDP) has accuse the APC of taking Nigerians for a ride by behaving as if their sufferings and predicament did not matter The party described the APC mega rally held in Umuahia as “the height of disdain, insensitivity and insult of the ruling party to the plight and predicaments of Nigerians under their misrule.” In a statement issued yesterday

evening by its National Publicity Secretary, Kola Ologbondiyan, PDP asked APC to try and reflect on its failure to fulfill even the littlest of the promises they made to Nigerians in 2015. “If anything, the ruling party was in Umuahia just to spit on the faces of suffering Nigerians as well as the graves of those that have died due to the hardship occasioned by the misgovernment of the APC in their nearly three years in office. “Nigerians were disheartened to see leaders of the ruling party dancing away and making vain speeches at a time when millions are still traumatized over killings in Benue and other parts of the country, while many more are groaning under the pains of economic hardship worsened by the unabating fuel crisis in the country. “If the APC had any iota of regard for Nigerians, it would at this moment, be brainstorming on the many woes it has caused the nation and how to shore up the economy ruined by its tactless government.

“The Umuahia rally has also shown that the APC leaders are not in any way interested in the welfare of Nigerians but in their selfish, political and pecuniary interests. This even manifested in their empty speeches wherein they could not present the people with any achievement or plans for future development. “Perhaps the APC would have learnt a lesson from the scanty turnout of Nigerians at their so called “mega rally.” The cold response by the few attendees, the refusal of the people to brandish brooms and the total absence of cheers for their leaders, including Oyegun, constitute a loud act of rejection. “Again, we invite the APC to reflect on their failure to fulfill even the littlest of the promises they made to Nigerians in 2015. We urge Abians, and indeed, every Nigerian to take heed from the failed promises of the APC and refuse to be beguiled a second time.”

Ibom Deep Seaport Promoters Seek Developers, Operators for Project Sunday Okobi The promoters of the Ibom Deep Seaport (IDS) have made public their plans to get developers and operator for the execution of the multi-billion naira project. Expected to generate thousands of direct and indirect employment in the pre-construction, construction and post-construction stages, the promoters of the IDS said the procurement process would kick off this month with the advertisement of the request for qualification (RFQ) from reputable private sector port developers and operators. The selected developers and operators noted recently that they are expected to develop the IDS in partnership with the Akwa Ibom State Government and the Federal Government of Nigeria. While Global Maritime and Port Services Limited (GMAPS) of Singapore is the Transaction Advisor, PwC, Nigeria is the Project Manager of the project. In a statement made available to THISDAY yesterday, the promoters said the federal government and the Akwa Ibom State Government have reached a critical milestone in the implementation of the IDS project. “The IDS is arguably one of the most promising Public Private Partnership (PPP) infrastructure initiatives in Africa because of the unique and unparalleled investment opportunities it offers international seaport developers, operators, investors as well as its potential for driving inclusive economic growth in Nigeria and the West and Central African sub-region. Strategically located in the South East of Akwa Ibom State, Nigeria, the approximate coordinates of the IDS scaled from the British Admiralty Chart Number 1387. “The 2,565 hectares Greenfield port area is designed for New Panamax Class vessels with channel

(18.24m); turning basin and berth depth (16.72m) and quay length of about 7.5 kilometres. When fully developed, the container terminals will be able to accommodate up to 13 New Panamax Class container vessels and two very large feeder vessels,” the statement added. According to the promoters, the IDS is positioned to offer a value proposition superior to other seaports in the region. Available data indicates that the various seaports currently serving the West and Central African sub-region are reaching saturation and the need for viable alternatives has become critical for major shipping lines sailing these routes. They stated that with limited land to expand the existing seaports in Lagos and the inhibiting conditions against the development or expansion of other ports in neighbouring countries, the IDS offers an ultramodern deep seaport with modern cargo handling equipment, facilities and systems that can address the capacity challenges constraining other seaports across the region. Enumerating other benefits of the project, the promoters said: “The Greenfield site has substantial land available for future expansion. Due to its proximity to target markets in West and Central Africa, neighbouring hinterland countries and major shipping lines calling West/Central Africa, large gateway market size to attract direct vessel services and sizeable transhipment cargo hinterland for feeder shipping network connection, as well as its capacity to handle post and New Panamax vessels at its specialised terminals, the IDS is in an enviable position to emerge as the first major transhipment hub for the region. The transhipment container market for the IDSP is estimated to grow from about 1.2 million TEUs in 2021 to about 4 million TEUs in 2040.”

WELCOME TO MY OFFICE

Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), Sharon Ikeazor (right), welcoming the newly appointed Auditor-General of the Federation, Mr. Anthony Mkpe-Ayine, during the courtesy visit of the Auditor-General of the Federation to PTAD headquarters in Abuja.....yesterday

Eroton Blames Sabotage for Buguma Gas Well Fire Eroton Production and Exploration Company Limited has announced that illegal third party activity and sabotage was responsible for a gas fire broke out on the Buguma 10 gas well, a gas well located within Oil Mining Lease 18 (OML 18). In a statement yesterday, the company said there have been no fatalities or spill into the environment resulting from

this incident. According to the company, “On the 8 January 2018, a gas fire broke out on the Buguma 10 gas well, a gas well located within Oil Mining Lease 18 (OML 18) that is operated by Eroton Exploration and Production Company Limited, operator of the Eroton/NNPC Joint Venture. Eroton had taken over operatorship of this OML from

Shell Petroleum Development Company Limited in 2015. “Preliminary checks with Eroton reveal that at it has promptly reported the incident to the relevant regulatory bodies including the Department of Petroleum Resources and the NOSDRA. Our investigations have further revealed that the well is a non-operational one having been safely secured by

SPDC with a downhole plug and a Non Return Valve before transfer to Eroton.” It added: “The cause of the fire is therefore likely to be from illegal third party activity/sabotage. Eroton is currently working to put out the fire and stabilize the conditions of the well. After this is done a full investigation will be carried out into the cause of the fire.”

END GRUESOME KILLINGS ACROSS THE COUNTRY, AMNESTY INTERNATIONAL TELLS FG because of the failure of authorities to carry out investigations and end the rampant impunity for previous crimes. It is not enough for government to make pronouncements or issue condemnations, it is vital that

those responsible are punished. “This is the only way to start to tame this wave of violence that is endangering lives across the country. That herdsmen, ethnic militias and cult groups kill Nigerians with ease should be a wakeup call for the

Nigerian government to ensure accountability for every violation of human rights.” More than 57 people were killed in Benue State on January 1, while in Rivers State, at least 17 people were killed also on

January 1. Also, at least six people were killed in Taraba State on January 5. Similarly, in Kaduna State, a traditional ruler and his pregnant wife were killed on January 1, 2018.

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NEWSEXTRA

Court Orders Ex-permanent Secretary, Clement Illoh to Forfeit N706.5m to FG A Federal High Court in Lagos yesterday ordered a former Permanent Secretary in the Ministry of Labour and Productivity, Dr. Clement Illo Onubuogo, alleged to have been involved in the Sure-P scam to permanently forfeit the sum of N664million and $137,680 to the federal government. Justice Saliu Seidu granted the order at the resumed trial of the former permanent secretary. Yesterday, counsel to Onubuogo, Mr. T. S. Awana, informed the court that his client had two applications, one challenging the jurisdiction of the court and the other for the discharge of the earlier order of the court granting the interim for forfeiture of the properties in question. Awana however, added that the case being a civil case and the discussion between his client and the Economic and Financial Crimes Commission (EFCC) on the need to settle out of court, he would be withdrawing the two applications. Counsel to the EFCC, Mr. Rotimi Oyedepo, in his submission, confirmed the position of the move to settle out of court and stated that he would not be opposing the withdrawals of the two motions filed by the defendant and urged the court to strike out the motions for the coast to be clear for out of court settlement. While making further submission, Oyedepo told the court that based on the discussion and agreement reached between the parties EFCC would be applying for the discharge of an earlier interim order of the court as regards two of the properties being sought to be forfeited to the government. The properties are Clement Illoh’s Mansion located at Ikom Quarters, Issala Azegba, Delta

State and the property lying and situates at number 19 Madue Nwafor Street off Achala Ibuzor Road, Asaba Delta State. He then urged the court to discharge the earlier order of the court as regards the two properties only. Awana did not oppose the application which pave the way for EFCC to move the motion for the final forfeiture of the other properties. In moving the application for final forfeiture of the properties EFCC counsel, Oyedepo told the court that since the defendant has withdrawn their counter affidavit, the prosecution is left with no option than to move the motion for final forfeiture of the properties. “In view of the discussion with the defendant we want to move the motion of September 5, 2017 wherein we are seeking the final forfeiture of the properties listed in prayers 1,2,3 and 4.’ Oyedepo said the motion was brought pursuant to section 17 of the Advance Fee Fraud and other Related Offences Act number 14, 2014. The prosecution said the application for final forfeiture is supported with nine paragraphs affidavit and two exhibits. “We also filed a written address in support of the motion as their argument in support of the motion.” The prosecution therefore urged the court to grant their application for the final forfeiture of the properties as contain in prayers 1,2,3 and 4 in the face of the motion papers. The application was not opposed by the defendant. Justice Saliu Saidu consequently granted the application ordering the defendant to forfeit the sum of N437,348,181.16 found by the EFCC

2018 UTME to Commence from March 9

Only 283,319 candidates apply Kuni Tyessi in Abuja The Registrar and Chief Executive Officer of the Joint Admissions and Matriculation Board (JAMB), Prof Ishaq Oloyede, has announced that the Board has fixed the 2018 Unified Tertiary Matriculation Examinations (UTME) from March 9 to 18, 2018. Professor Oloyede disclosed this yesterday in Abuja at a ‘Strategic Planning on Supervision and Evaluation’ of the conduct of 2018 meeting even as he lamented the low spate of registration of candidates. He said February 6 is the closing date for the sale of registration form, bemoaning that as at the time of this report yesterday, only 283, 319 registrations had been made across the country. Oloyede said in view of criticisms that trailed the sale of entry for a month in the past years, the board decided to earmark two months so that every willing candidate could be able to purchase, fill and submit the forms. “We open entry from December 6, 2017, to February 6, 2018, but one month later, only less than a quarter of the two million candidates expected for the examination this year, have registered,” he said. JAMB boss said it had been envisaged that a heavy

concentration in the purchase of the registration form would be in the last one week to closing date, stressing that in view of that, the mock examination would be held in the first week of February across the country. He further lamented that in the last year examination regime, candidates spent about N100 million for correction of errors caused by Computer Based Test (CBT) centres, stating that the board had gone ahead to correct the situation in advantage to the candidates. “This time around, candidates type their names by themselves and this would eliminates, wrong spelling of names and other data, and we are doing this so as to deprive those who are extorting from candidates,” Oloyede stated. As stakeholders suggested, the need for first aid medical facilities in examination halls, he warned that wristwatches, pen and pencil, other than required HB pencils, were prohibited in examination halls, starting from the next examination Stating that even examination officers were affected by this new development, the registrar said the board had gone the extra miles to uncover new ways of cheating in examinations and discovered that sophisticated wristwatches were parts of the gadgets..

in possession of Onuogo which sum is reasonably suspected to be proceeds of unlawful activity. The court also order the final forfeiture of another N97,300.613.44 found by the commission in the defendant’s account. The defendant was also ordered to forfeit another sum of N129,826,452 found by the

commission in possession of Salisu Bala Kura, John Isakwa Kanku, Ahmed Mahmud Muazu, Muktar Safian, Udoh Nnamdi, Umar Bello Mashi, Salogu Karo, Usman Bello, Ahmed Mohammed Makki, Umar Abubakar, Aliyu Abubakar and Enape Victoria. Onubuogo was also ordered

to forfeit to the federal government the sum of $137, 680.11 The EFCC had on April 3, 2016 arraigned Clement O. Illoh, before Justice Babs O. Kuewumi of the Federal High Court, Lagos on a three-count charge bordering on failure to declare his assets. The accused person allegedly failed to disclose the sum of N97,

300, 613.44 found in his account. He also allegedly warehoused the sum of $139, 575. 50 and £10, 121.52, respectively in his account. The offences are contrary to and punishable under Sections 23(3) (c) of the EFCC (Establish) Act. The accused person pleaded not guilty to the charges when they were read to him.

HARVEST OF GUNS

Force Public Relations Officer, Jimoh Moshood, parading some suppected kidnappers arrested along Kaduna-Abuja Road at Jere, Kaduna State....yesterday

Citing Drawbacks in Implementation of Capital Projects, Lawmakers Mull Amendment to Procurement Act James Emejo in Abuja Following widespread complaints over the increasing frustrations encountered in trying to comply with the provisions of Public Procurement Act (PPA), lawmakers yesterday restated the need to take another look at the regulation with a viewing to shortening the rather lengthy process of implementation. Chairman, House of Representatives Committee on Works, Hon. Toby Okechukwu (PDP, Enugu), said the long process required to comply with the act was hurting the country’s development aspirations and needed a review. Speaking during the committee’s routine oversight function to the Ministry of Power, Works and Housing, the chairman further

directed that the rehabilitation of the badly damaged Port-Harcourt-Aba road be put on the priority list of projects to be undertaken by the ministry. Essentially, government agencies as well as contractirs have decried a situation whereby despite the late passage of annual budgets, the cumbersome and long processes of implementing the PPA had negatively affected the implementation of capital votesleading to poor performance of the budget. A Certificate of No Objective is a critical requirement from the Bureau of Public Procurement (BPP) before any contractual procurement could be fulfilled- but the process had been seen as too cumbersome and defeatist.

Yet, it remained one of the critical tools deployed by government to fight endemic corruption in the contractual system. It came as the Minister of Power, Works and Housing, Mr. Babatunde Fashola, yesterday said the federal government’s currently contractual liabilities stood at about N2.79 trillion. He had bitterly complained that the procurement process constituted a major challenge to growth and development and needed to be shortened as well. He noted with concern that even though the 2017 budget was passed in June,theministryhashadtocommence long procurement processes, some of which are yet to be completed, thus delaying payments to contractors. He said contractors were being owed the sum of N265.7 billion for

completed projects but are yet to be paid, stressing that most of them had borrowed funds to implement works with the believe that government would pay. According to him, with more capital releasesfromgovernment,a100percent performance of capital budget was feasible, having currently achieved about 77 percent performance. Nevertheless, the lawmakers further grilled the minister over the implementation of the N3 billion omnibus budget (emergency contract) approved after the passage of the 2017 budget. It was unanimously agreed that the emergency contract vote helped cushion the effects of unforeseen occurrences which affected the lives of Nigerians including bridge collapses, erosion among others.

Faleke to Buhari: You May Not Win Kogi with Bello as Chief Campaigner Former deputy governorship candidate of the All Progressives Congress (APC) in Kogi State and President Muhammadu Buhari’s former campaign coordinator for Lagos State, Hon James Abiodun Faleke, has advised President Buhari not to get carried away by the recent boastful exclamation from Kogi State Governor, Yahaya Bello, during a visit to the Presidential Villa that he would ensure Kogi delivers more votes for the president in 2019 than Katsina, his home state, stating the governor had no such capacity in view of the level of his unpopularity in the state. According to Faleke, it is the height of deceit and folly for a governor who is notorious for neglecting the welfare of the

citizens of his state by owing them several months of unpaid salaries and pensions, a governor who cannot even provide basic infrastructure like water, road, and hospitals, a governor who through his ineptitude has become the most unpopular governor the state has produced to boast of being able to lead the same citizenry who are daily dying of hunger to vote en masse for President Buhari. “I refer to a boastful statement credited to Bello that Kogi State would garner more votes for President Buhari in 2019 than Katsina State and I ask myself why is the governor fooling himself thinking he is fooling Nigerians. First, the governor has never contested for any election and

won before. Not even councillorship election. The governorship seat he is occupying today, he didn’t campaign for it. He was simply gifted the seat, so how can such a person stand to discuss election issues? |How can a governor who is not registered as a voter in his state mobilise vote for no less a person than Mr. President? How can a governor who has been indicted by INEC for fraudulently engaging himself in double registration lead the campaign train of Mr. President across the state with such a moral stain hanging on his neck? What does he know about mobilisation of people for elections? So when elections are being discussed, he should be told to keep quiet?

“My questions are how will Kogi under Bello vote more than Katsina the state of origin of Mr. President? Is it because of his zero performance, his wasteful management of resources in his state or is it because of the rampant kidnapping in the state, incessant killings of labour leaders and dissenting voices as compared with Katsina? “The governor’s Chief of Staff, Edward Onoja in a video gone viral had told a labour leader in the state that he was hitherto gunning for the labour leader’s head but that he was lucky to be present with him in the same church that day. Is that how to attract voters to PMB’s Camp? What achievement is Bello going to use to campaign?”

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T H I S D AY ˾ WEDNESDAY, JANUARY 10, 2018

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WEDNESDAYSPORTS

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

Iwobi Faces Punishment over Pre-match Party Arsenal FC Manager, Arsene Wenger, has said that Alex Iwobi will be fined if it is confirmed that he was at a party 36 hours before Sunday’s FA Cup loss at Nottingham Forest. A video appearing to show the 21-year-old at the party in the early hours of Saturday morning was released on social media. Iwobi played the full match as holders Arsenal lost the third-round tie 4-2. Wenger said is it “impossible” and “unacceptable” to go out within 48 hours of a game. The footage, which was uploaded to Snapchat, appears to show the Nigerian dancing at a party in a house in central London at 02:37 GMT, and was published in UK’s The Sun newspaper. But Wenger said Iwobi was not involved in either taking drugs or drinking alcohol. “First of all we have to be cautious with everything that is coming out,” Wenger added. “When you read what is reported it is like he has

taken drugs. He was not involved in that at all. “He has been out at a birthday party and how long he has stayed? That is important. After, I will decide what happens.” Wenger added: “You know that sometimes you want to prepare 100 per cent but it is not always a guarantee you will be at your best. But that is what is requested from a top-level professional.” According to The Sun the Arsenal midfield star was videoed screaming and dancing at 2.37am on Saturday in Soho, central London, hours before featuring for the Gunners in their 4-2 FA Cup loss to Nottingham Forest at Ashton Gate. Iwobi was filmed dancing at the wild bash where partygoers smoked cannabis and inhaled laughing gas but there was no suggestion that the Super Eagles star took drugs during the house party, according to the report. “Maybe his partying had something to do with it. He shouldn’t be up that late,”

2018 AJC QUALIFIERS

Iwobi (right) faces fine over pre-match party The Sun quoted a source. The report added that the neighbours complained about the noise from the rented flat in Soho, central London,

where the party continued until 3.30am. One of the neighbours said: “They were keeping everyone in the building

awake. I was woken at 1am by chanting and singing and went to complain. There were laughing gas canisters all over the place

and a strong smell of weed. “They claimed they hadn’t been allowed into a club and that’s why they rented the flat.”

Marylove, Abamu No Surgery for Injured Onyekuru Lead Team Nigeria Begins one month rehab at Everton to Flying Start Team Nigeria made a flying start at the ITF/CAT West and Central Africa Junior Championship qualifiers in Lome, Togo with no fewer than eight of its 12 players advancing to the next stage of the event. While Oyinlomo Quadri, who is Nigeria’s highest ranked junior player got a bye to the quarterfinal in the girls’ 16 and under, the trio of Marylove Edward, Gabriel Friday and Matthew Abamu won their second round matches to also move to the last-eight of the tournament featuring 12 countries. US-returnee, Edward outplayed Beragah Atana of Cameroun 6-3, 6-1 and is just three wins away from clinching the girls’ 14 and under crown while in the boys’ 16 and under, Friday had a tough encounter with Vince N’tcha of Benin in a match that lasted about an hour and half with scores ending 7-5, 1-6, 6-1 to the Nigerian. On his part, Abamu,

whose consistency in the past few years has earned him regular invitations by Nigeria, was on top of his game as he sealed a comfortable 6-1, 6-2 win over Chenne Traore of Mali to also keep the dream of landing the top prize in the boys’ 16 and under category. Oiza Yakubu and Rebecca Ekpeyong are also through to the third round in the girls’ 16 and under same for Sulaiman Ibrahim an Usman Kushimo who are slugging it out in the boys’ 14 and under as they all bagged impressive wins on Tuesday. Nigeria has been dominating the tournament with an enviable record of overall winners in the last six editions of the annual regional championship. The African Junior Championship is billed for later this year with the 14 and under holding in South Africa while that of the 16 and under is scheduled to take place in Tunisia.

Contrary to earlier reports, Super Eagles and Everton striker, Henry Onyekuru will not need any surgery to his injured menial ligament. According to AOIFootball. com, Onyekuru was told by doctors at Goodison Park that he would not be needing surgery any more. Onyekuru, who underwent another series of examinations when he arrived at Everton last weekend from his base in Belgium, was told on

Monday he would not be needing surgery and that his rehabilitation would start earnestly. “Yes, the doctor said I am not going to need any surgery yet. My legs are improving everyday. So, we should wait after a one month rehab to check it again,” the former KAS Eupen striker told AOIFootball.com exclusively yesterday. Speaking further, Onyekuru said he hopes after the one

month rehabilitation he will be fine and back on his feet. This certainly will be cheering news to Super Eagles’ Coach Gernot Rohr, who has been in constant contact with the forward even as his possible appearance at the FIFA World Cup later in the year is welcoming. Onyekuru had claimed he would not need surgery for the injury even after Belgian champions Anderlecht

announced he will have to go under the surgeon knife. He injured his knee during a Belgian league game at his former club KAS Eupen late last month and it initial examination carried out had suggested that he could be sidelined for at least six months. This had prompted fears amongst Nigerian football fans that the emerging star could miss the World Cup in Russia in summer.

Moroccan AmbassadorTips Eagles for CHAN Glory The Ambassador of the Kingdom of Morocco to Nigeria, His Excellency Moha Ou Ali Tagma has rated the Super Eagles as good enough to overhaul the opposition at every stage and emerge champions of the 5thAfrican Nations Championship starting in Casablanca on Sunday. Speaking in Abuja yesterday during a courtesy call by a Nigeria Football Federation (NFF) delegation led by the General Secretary, Dr. Mohammed Sanusi, the envoy

expressed his view that the Moroccan B team may not be as strong as the A team that has (like Nigeria’s A team) qualified to be one of Africa’s five flag-bearers at this summer’s FIFA World Cup finals. “Having said that, I will be most fulfilled if Nigeria and Morocco should play the final match in Casablanca on 4th February,” Tagma said, adding: “If your B team is like the A team, which easily qualified for the World Cup and defeated Argentina 4-2 in

a friendly match two months ago, then it can go all the way.” Sanusi insisted that the NFF treasures the warm relationship between the federation and the Federation Royal Marocaine de Football, whose President, Fouzi Lekjaa, is the 3rd Vice President of CAF and also a member of the CAF Emergency Committee, like Nigeria’s Amaju Pinnick. “Morocco is like a second home for us. As I speak now, our Super Eagles are in Rabat training ahead of the CHAN

and have the support of the FRMF. We appreciate the good relationship between our two Federations and between our two countries, and will always do what is necessary to service and protect this wonderful relationship.” Also present during the visit were Morocco’s Deputy Head of Mission, El Houssaine Oustitane, NFF’s Director of Communications Ademola Olajire, NFF’s Head of Protocol Tunde Aderibigbe, Paul Okwudolor and Ayo Ibidapo.

Zinedine Zidane Named Coach of the Year in France Real Madrid may have ended the year badly, but Zinedine Zidane has been named French coach of 2017 for leading the club to a Liga and Champions League double. “I want to show that I can also be a good coach in tough

circumstances,” Zidane said in an article published yesterday in France Football magazine, which gives the award. Real are going through a bad run. They are fourth in La Liga, 16 points behind leaders Barcelona, and they ended 2017 with a crushing

3-0 defeat at home in the Clasico. On Sunday, they were held to a 2-2 draw at Celta Vigo. “Today, yes, the danger is there, but I’m not going to change. I am aware that I have in front of me great players who listen to me.

Playing football, I know how to do that. So things will sort themselves out in the end,” Zidane said. “Some people may think that everything is always easy for me, that I do everything from instinct, but that’s not true! Whether it is as a player

or as a coach, I’ve always worked,” said Zidane. “I’m not protected by what I achieved as a player for this club. Zinedine Zidane is no longer a Real player. That Zidane does not exist any more. Now it is the coach Zinedine Zidane who must

create a career,” he concluded. His side will continue their defence of the Champions League against a French team coached by a Spaniard when Real take on Unai Emery’s Paris Saint-Germain in the first knockout round on February 14 and March 6.

Wednesday January 10, 2018

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MISSILE

Angry Benue Youths to Buhari “Why value cows to humans...We will not vote for the present administration again at both the state and federal level if these crises don’t stop” – Angry protesting Benue youths berating President Muhammadu Buhari for his inaction and penchant for looking the other way as herders kill scores of Benue farmers over grazing land.

ISSAAREMU GUEST COLUMNIST

Defending Pension Assets in 2018 P resident Muhammed Buhari’s administration has a singular additional responsibility to safeguard and protect the 14- year-old pension reform of 2004, as amended in 2014. I bear witness that in 2017, more than ever before pensioners and pension assets came under attack. The dramatic return of Mr. Abdulrasheed Maina, one-time chairman of the presidential Pension Task Force, last year and his televised audacious claim to “innocence” in the face of “cash, cash” (his words!) trillion Naira pension scam further fueled the notoriety of the attack on pension assets. Non-payment of the salaries understandably captures the public imagination. But most pensioners, especially in the states, truly constitute, the new non-working poor whose gratuities and terminal benefits and pensions are either denied or paid to no one even when they are already dead. The point cannot be overstated; every working man and woman must get fatigue one day. Hence the need to prepare for the proverbial raining days by setting aside ample funds that will meet the subsistence needs of the aged workers. With the collapse of the extended family support and traditional values of historic care, lack of concern for the aged, today’s workers can only ignore the issue of the pension scheme at the instance of their survival after work. This explains why progressive modern states have defined Pension as a legitimate right of workers. Nigeria has rightly defined pension as a deferred payment, which both the workers and employers must set aside so that workers at old age will not depend on some charity (in an increasingly uncharitable society!). Pensioners should be treated as citizens with rights, not as destitute. Apart from corruption, what made the old public sector pension unsustainable was its non-contributory character. It is commendable that Pension Transitional Arrangement Directorate (PTAD) under the leadership of its Executive Secretary Executive Secretary Mrs. Sharon Ikeazor has credibly contained numerous challenges of the old Defined Benefit Scheme (DBS), reversing the complaints on non-payment of monthly pension and short payment of pension and gratuity among others. PTAD has also dignified the old pensioners with orderly and pensionersfriendly verification exercises. 14 years ago, the Federal Government enacted the Pension Reform Act, PRA 2004 which commendably transformed pension

Buhari

DG of PenCom Funso Doherty

system into a contributory scheme. In 2014, arising out of a comprehensive review of the implementation of the Reform Act, the PRA 2014 repealed the 2004 Act, signed into law by the then President Goodluck Jonathan administration on 1 July, 2014. The Pension Reform Act 2014 reenacted the fundamental provisions of the repealed PRA 2004, which include the establishment of the senate Contributory Pension Scheme, uniform standards for pension administration as well as the National Pension Commission (PenCom) as the sole regulator and supervisor of pension matters in Nigeria.

The mission of PenCom is “an effective regulation and supervision of the Nigerian Pension Industry to ensure that retirement benefits are paid as and when due”. In the 2014 amendments, new developments were introduced; upward review of the minimum rate of pension contribution from 15 to 18 percent of the total pay of the workers and new sanctions and penalties against infractions of the provisions of the Act. The critical question is: how has PenCom fared in realizing its vision? The Contributory pension assets currently stand at N3.6 trillion, a remarkable pool through the contribution of some 7.31 million public and private sector workers - contributors. But the pension assets statistics is miserable compared to the potential of 60 million workforce, coverage inclusive of the informal sector outside of the existing coverage. PenCom should up its vision as a “ pension industry with 20 million contributors delivering measurable impact on the Economy by 2019. While some State Governments have made progress in the implementation of the Contributory Pension Scheme (CPS), coverage is still low. As at the third quarter of 2016, 14 years after, twenty-six (26) States Governments had enacted their pension Laws, with eleven (11) States reportedly at the Bill stages. Only ten (10) out of the 36 states had commenced remittance of contributions into the RSAs of their employees. Just eight (8) States had commenced funding their Retirement Benefit Bond Redemption Fund Accounts (RBBRFAs). While the federal agencies have complied with the Pension Act, it

This adverse development must necessarily task the Pencom officials on the need to be more active in defence of pension assets and above all ensure that retirees have value for their savings by promoting adequate pay

is discouraging that many federal ministries, departments and agencies of government refuse to remit deducted pension funds as and when due. Success of CPS depends on remittance of the deducted pension funds by employers of labour in both the public and private sectors. It is worrisome that according to the Pension Fund Operators Association of Nigeria’s 2016 Annual Report, “the Federal MDAs have since October 2015 been failing to remit the mandatory pension contributions of most of their workers into their Retirement Savings Account (RSAs) as provided for in the Contributory Pension Scheme under the Pension Reform Act of 2014”. This development has adversely affected the accrued rights of employees of the ministries “who are not under the parastatals but are being paid by the National Pension Commission (PENCOM) with funds provided by the Central Bank of Nigeria (CBN)”. Some states even reportedly “have outstanding remittances dating back over two years”. The main strength of Pension Reform Act (PRA) 2004 is that every person who worked in either the Public or Private sectors of the Federation, as well as the Federal Capital Territory, receives his/her retirement benefits as and when due. But again what do the pensioners receive in the face of double-digit inflation? There is the need for minimum pension just as we have minimum pay. This then raises the corporate governance of Pencom and its activism in defense of pension assets in 2018. Pencom should be more vocal and visible to damn pension corruption whether in the old discredited Defined Benefit Scheme ( DBS) or the new Contributory pension scheme. Pencom must also promote pension literacy on a national scale through dissemination of pension industry market statistics just as the CBN does for the money market. Last year, there were ill-informed private bills by some legislators aimed at encouraging withdrawals of some paramilitary agencies out of the Contributory Pension Scheme/Defined Contributions (DC). This adverse development must necessarily task the Pencom officials on the need to be more active in defence of pension assets and above all ensure that retirees have value for their savings by promoting adequate pay. The key issue here is income adequacy for pensioners and increasingly pro-active Pencom. t$PNSBEF "SFNV JT B .FNCFS PG UIF /BUJPOBM *OTUJUVUF ,VSV BOE +PT

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