Wednesday 31st January 2018

NNPC Staff, Seven Others Killed by Herders in Benue, Nasarawa Again, Buhari orders arrest of persons involved in killings Ernest Chinwo in Port Harcourt, Omololu Ogunmade, Damilola Oyedele in Abuja and George Okoh in Makurdi with agency report

The Benue State Police Command has confirmed that suspected herdsmen may have killed a staff of the Nigerian National Petroleum Corporation

State Police Command yesterday confirmed the killing of seven persons by unidentified gunmen suspected to be herders on Monday night in the state.

(NNPC) working on a pipeline along the border of Benue and Nasarawa States in Guma Local Government Area. Similarly, the Nasarawa

The new Commissioner of Police in Benue State, Mr. Fatai Owoseni who spoke on the slaying of the NNPC staff during his first media briefing yesterday in Makurdi, said

the victim was one of the officials of the corporation who were on an official assignment in the area. Continued on page 8

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NPA Gives Intels Two Weeks to Pay $48m Debt Firm insists it has settled dispute, awaiting AGF’s clearance Eromosele Abiodun with agency report There appears to be no end in sight to the dispute between the Nigerian Ports Authority (NPA) and Intels Nigeria

Limited (Intels), as the NPA has handed a two-week ultimatum to the company to remit an outstanding $48 million that ought to have been paid into the agency’s Treasury Single Account (TSA) in 2017.

Speaking yesterday during an interview with CNBC Africa, the Managing Director of NPA, Ms. Hadiza Bala Usman, said Intels’ notice of termination would stand if the company fails

to settle its debt. “I am giving Intels a possible two-week window to provide payment, two weeks from now, following which the notice of termination will not be withdrawn,” she said.

“One of the issues we have had with Intels is their noncompliance with the TSA. As you are aware, the Nigerian government instituted the treasury single account which is the account that

all revenues of government need to be paid into. “Intels collects revenue on behalf of the Nigeria Ports Authority and had refused Continued on page 8

Panel Recommends Gwarzo’s Sack as Adeosun Defends His Ouster Suspended DG contests power to unseat him, maintains minister asked him to stop Oando audit Oando audit

James Emejo in Abuja with agency report The administrative panel of inquiry set up by the Minister of Finance, Mrs. Kemi Adeosun, to probe the suspended DirectorGeneral of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, has recommended his dismissal from office. The recommendation for this dismissal came just as the finance minister appeared before the House Committee on Capital Market and Institutions where she defended her decision to suspend Gwarzo, stating that she did not have to wait for the anti-graft agencies to handcuff Gwarzo before suspending him from office over allegations of financial misconduct. Continued on page 10

L-R: Former Chairman of Skye Bank Plc, Mr. Tunde Ayeni; Rear Admiral Joe Aikhomu; Chairman, UTM Group, Mr. Julius Rone; his wife and celebrant, Utibe; Mrs. Nosa Okunbo; and her husband, Mr. Hosa Okunbo, during Utibe’s 40th birthday celebrations, held in Abuja… recently kunle ogunfuyi

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PAGE EIGHT N PA G I V E S I N T E L S T W O W E E KS TO PAY $ 4 8 M D E B T to comply with TSA and kept retaining those revenues in their coffers. “So we insisted that they must comply, no company is above the laws of the country and we went through the whole process,� she was quoted to have said in the interview. She spoke further on what caused the disagreement between the maritime agency and the logistics firm, accusing the company of failing to comply

with the ground rules. “I think it’s important for all entities operating in an environment to adhere to the rules and regulations,� she said. “What we seek to ensure is with you have a level playing field and you must comply to regulations. At no point was Nigeria Ports Authority not going to remit their own portion of the revenues. “All other third-party agreements that we have in the Nigerian Ports Authority have a

similar structure, so why should Intels feel it can operate outside of the law? The other companies are complying, why don’t you comply?� In September, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, had asked the NPA to void the boats’ pilotage agreement it had with Intels. Intels, a logistics and facilities services provider in the maritime and oil and gas sectors, was

co-founded by Gabriele Volpi, an Italian national, and former vice-president, Atiku Abubakar. Atiku has since sold down most of his interest in the company to the former Lagos State governor, Chief Bola Tinubu. Malami said the agreement, which allowed Intels to receive revenue on behalf of NPA for 17 years, violates Sections 80(1) and 162(1) and (10) of the constitution. The AGF wondered if the management of the NPA and

Intels did not take cognisance of the relevant provisions when negotiating the agreement in 2010. However, Intels last year insisted that it had settled the dispute with NPA and was awaiting the AGF’s clearance. The firm admitted the infractions and apologised for its initial rejection of the regulator’s directive on the TSA, stating its readiness to comply. In its apology, dated October 25, 2017, Intels, through one of

its directors, Silvano Bellinato, suggested that an agreement that would ensure “mutual business satisfaction� be signed between the company and NPA. Bellinato also sought assurances that Intels’ share of collected revenues would always be remitted to it in good time after the TSA account with the CBN is credited. On the basis of the letter, Intels said it was awaiting the AGF’s green light and would like an amicable resolution of the dispute.

“The federal government should tackle the economic challenges and deteriorating security situation in the country,� he said. He also decried the fact that traditional rulers were dependent on government sponsorship to organise their programmes. But thanked Wike for hosting them and assured him that their stay in Rivers would be memorable.

was important to disarm anyone caught with arms and weapons because it is an offence for anyone to carry unlicensed firearms. Akande said in his submission, the Hama Batta thanked the vicepresident for the invitation and his earlier visit to the affected communities late last year. He was quoted as saying, “We came to thank you for your visit (to Numan communities). You made promises of relief materials when you visited, and the relief materials were brought. “Also, the Special Forces that you promised responded on time. There is also now a police command with a Commissioner of Police.� The stated added that his colleague, the Hama Bachamma, also echoed him thanking the presidency for its efforts so far in tackling the issue.

N N PC STAFF, SEVEN OT HERS KILLED BY H ER D E R S I N B E N U E , N ASAR AWA He said that the attack occurred yesterday, adding that the police were still investigating the nature of the attack and the identity of other victims who some locals claimed were miners. “From what we have gathered so far, the attack may have been carried out by some armed bandits but we are investigating.� The police commissioner who also disclosed that two policemen were killed recently in Ukum Local Government Area of the state, stated that the problem around Ukum and Katsina-Ala was a communal clash and an act of banditry that was traced to the wanted militia leader, Terwase Akwaza, alias Ghana. “What happened in Ukum and Kastina-Ala was purely an act of banditry which some criminals took advantage of. Most acts of banditry taking place in that axis are traced to Ghana.� Owoseni also lamented that criminals in the area were taking advantage of the clashes between herders of cattle and farmers to perpetrate their own criminal acts, noting that it was for this reason the Inspector General of Police, Mr. Ibrahim Idris, deployed special forces who are well trained to combat such criminality in the area. He said some persons had been invited for interrogation, even as investigations were ongoing to unravel the cause of the clash but regretted what he described as the conspiracy of silence in the area. The CP also urged the media to partner with the police in the onerous task of improving security, stating: “If the media keep reporting negative things about the country, we might be preventing investors from coming and investing in the country/� Unknown gunmen last week ambushed two policemen in Ukum Local Government Area, killing them and setting their bodies on fire. In neighbouring Nasarawa State, the police command also confirmed the killing of seven people by unidentified gunmen suspected to be herders on Monday night. The attack happened at Kadarko, a village in Keana Local Government Area of the state. According to Mr. Kennedy Idirisu, the force public relations officer, the victims were killed by gunmen who invaded the village on Monday, reported the News Agency of Nigeria (NAN). He described the incident as “saddening�, saying that a special police team, led by a senior officer, had been deployed in the area to forestall a recurrence. Kadarko village has come under severe attacks lately, with cattle rustlers reportedly killing 73 cows on Sunday. Two herdsmen were reported missing after the rustlers’ invasion. NAN also reported that Alhaji Ahmed Bello, the Commissioner of Police in Nasarawa, visited the village on Sunday and assured residents that investigation had commenced so as to apprehend the rustlers. Just as the police in Benue and

Nasarawa confirmed another round of gruesome attacks in their states, President Muhammadu Buhari yesterday reiterated his order to the police and other security agencies to arrest and prosecute all persons involved in the recent killings in Benue and Taraba States. The president, who spoke at the 9th General Assembly of the National Council of Traditional Rulers of Nigeria (NCTRN) in Port Harcourt, River State, said the arrests had become imperative because the attacks in those states amounted to a declaration of war on Nigeria and its territorial integrity. This came as Rivers State governor, Nyesom Wike, stated that since the country was yet to decentralise the police force and other security agencies, his administration has forwarded a bill to the state House of Assembly to establish the Neighbourhood Security Corps to co-operate, support and complement the efforts of the regular security agencies in policing communities in the state and advancing their security. Buhari, who was represented by Minister of Interior, Lt. Gen. Abdurahman Dambazau (retd.), stated that everyone involved in atrocities across the country would be dealt with in accordance with the law. He assured Nigerians that the federal government would not shy away from its responsibility of protecting lives, the sovereignty and territorial integrity of Nigeria. “I am saddened by the waste of lives and property, and I have directed the Inspector General of Police that no one must be spared in all the atrocities. “The killings in Benue and other states must be brought to an end because the action amounts to a declaration of war on Nigeria, its sovereignty and territorial integrity,� he said. According to president, the federal government was confident about restoring security in every part of the country with the support of the traditional rulers. “When you relegate the royal fathers, you have automatically failed in taking governance to the grassroots. “With your support as traditional rulers, we are sure of restoring peace to any part of the nation that is currently under security threat,� he added. The president reaffirmed the government’s resolve to work closely with the traditional rulers because of their importance, not just on the security architecture but also in community development. He urged the traditional rulers to enforce friendship among them and take it down to their communities to achieve national cohesion. “Ensure that there is partnership among your communities; this will give way for cultural interactions and national integration,� he said. The president commended the traditional rulers for the theme of their conference: “Community Policing as a Catalyst to Crime Prevention: The Role of Traditional Rulers.�

He stated that community policing was key to ensuring national security, as it would contribute in arresting crime at the grassroots. In his remarks, Wike reiterated his call for the decentralisation of security services as a way of resolving the deadly security challenges facing the country. The governor noted that the security services, as currently constituted, cannot address the security challenges in the country, where lives are wasted regularly, while governors are helpless. He said the Rivers State Government has taken steps to improve her security through the setting up of a neighbourhood security watch. He said: “For us in Rivers State, our position on state and community policing is very clear. While we join our voices to other well-meaning Nigerians to strongly and emphatically demand for the decentralisation and depoliticisation of the security services, we are also not resting on the back of helplessness by doing nothing. “Already, we have forwarded a bill to the state House of Assembly to establish the Neighbourhood Security Corps to co-operate, support and complement the efforts of the regular security agencies in policing our communities and advancing their security. “The reality before the nation is that centralised policing has flatly failed and is incapable of resolving the enormous security challenges of a vast and culturally diverse country like Nigeria. “And even as we may continue to live in denial, the recurring bloodbaths in Benue, Taraba and other states have once again exposed the weaknesses of our country’s centralised policing system as well as the frustrations and near complete helplessness of state governors in their quest to provide adequate security for the communities and the people that they govern. “We can only imagine the magnitude of the sufferings and pains ordinary Nigerians are going through when the daily pains of violence and insecurity are added to the unending pressure of poverty, unemployment and lack of development.� Wike said at a time like this, it would be ungodly for good men to remain silent while the nation is dangerously wobbling. He urged all well-meaning persons to be counted among those who would work for the resolution of the security challenges facing the country. He said Rivers State was peaceful, working and brimming with ample economic opportunities for investors to take advantage of, adding that the traditional institutions must wake up to their responsibilities by lending their strong and respected voices to the national agitation for true federalism, resource control, greater devolution of powers, state and community policing, and good governance in the country. “In all these, our traditional rulers have significant roles to play to

protect and defend the nation’s unity and advance the rights of our people to democracy, good governance and development,� he said. At the 9th General Assembly of NCTRN, the council of rulers also called on the federal government to end the senseless killings in the country, saying that life was too sacred to be wasted. The chairman of NCTRN and Sultan of Sokoto, Sa’ad Muhammad Abubakar II, also called on the federal government to institute a high-powered commission of inquiry to investigate the killings across the country. He urged the federal government and law enforcement agents to rise up to the challenge of securing lives and property. “As we are meeting, if what is happening is the failure of governance, we will discuss it in details and come up with an appropriate report to help government and the Nigerian society,� he said. According to him, the traditional rulers were capable of stating things the way they are without sentiment in order to move the nation forward. “We existed before 1914, so we have seen it all. We are here permanently unlike the political office holders that have tenures. “We must close ranks as traditional rulers to help build Nigeria Let us build the comradeship we have among us down to the communities and let’s mean what we say, and say what we mean. “Our coming together is unique. It implies that nothing can divide us. So, let us reduce the tension in the country because this is the time for statesmen to work for Nigeria. “Let us stand and face the people that want to destroy our country,� he added. The Sultan noted that Nigeria being part of the world, there could be external threats against her through the use of religion and ethnicity. He urged the security agencies to always seek for the support as the traditional rulers because they had the network to help them. Also, the Ooni of Ife, Adeyeye Ogunwusi, pleaded with the traditional rulers to put politics aside and work assiduously toward meeting the challenges in the country. “Some sections of Nigeria are aggrieved and some feel oppressed; let us come together and take up this challenge so that no one will blame us. “Let us put politics aside, engage in peer review, apply sense of right and wrong, and speak the truth. “The responsibility lies on our head; we must stop the blame game and stop talking the talk but walk the talk,� Ogunwusi said. Earlier, King Dandeson Jaja, the Amayanabo of Opobo and chairman, Local Organising Committee, said that Nigerians were eager to hear from the traditional rulers. Jaja urged the federal government and the royal fathers to rise above ethnicity and sentiments to tackle the challenges in the country.

‘Violence Has Done Great Damage’ But even as the traditional rulers urged the federal government to act quickly to stem the violence in several states in the country, VicePresident Yemi Osinbajo yesterday bemoaned the protracted violence carried out by the herdsmen, saying it had not only done great damage to people’s psyche but also created fear in them. The vice-president made the remark while receiving a delegation of some leaders from Adamawa State led by the traditional rulers of Batta and Bachamma communities in the state. The traditional rulers were the Hama Batta, Homun Alhamdu Teneke, and the Hama Bachamma, Homun Honest Irmiya Stephen. He told the traditional rulers whose people were the victims of recent attacks perpetrated by herdsmen that the government would address the violence in the land and restore peace in the affected communities. “President Muhammadu Buhari is determined to resolve the herdsmenfarmers’ clashes in Adamawa State and return peace and order to the affected communities. “Much damage has been done, not just security-wise, but to the psyche of the people; due to the series of attacks, people are afraid. “We are also looking at repairing the damage that has been done to the infrastructure of the communities and rehabilitating the people,� he said. A statement by his spokesman, Mr. Laolu Akande, said following the vice-president’s visit to the affected communities in Adamawa State on December 5, 2017, he had commenced a series of national consultations with all the relevant groups. The consultations are designed to find a lasting solution to the farmers-herders’ conflicts in various parts of the country. According to him, Osinbajo had had a meeting with the Emir of Kano, Muhammadu Sanusi II; the Lamido of Adamawa, Muhammadu Barkindo Aliyu Musdafa; elder statesman, Malam Ahmed Joda; and other leaders of Fulani communities on December 11, 2017. The statement further said Osinbajo disclosed that the report submitted by the National Animal Production Research Institute (NAPRI), Zaria, on the crisis would be considered. It also said Osinbajo admonished the people of the affected communities to embrace peace and avoid reprisals, emphasising that it

Security Summit Suspended Meanwhile, the Senate yesterday announced the postponement of its planned national security summit in honour of former Vice-President Alex Ekwueme who would be buried Saturday. The summit, initially scheduled to hold on January 24 and 25, was postponed to February 1 and 5 to allow for adequate preparations. It has again been postponed to a yet-to-be announced date. A statement by the Ad Hoc Committee on the Review of the Security Infrastructure, said the latest postponement was to allow lawmakers participate in the funeral programme for the late vice-resident. The Senate leader, Senator Ahmed Lawan, who signed the statement, said a new date would be announced soon. He extended the Senate’s apologies to stakeholders who had been invited. “The summit was organised to provide an all inclusive platform for heads of security and defence agencies, governors, traditional rulers, socio-cultural groups, civil society organisations and others, with a view to finding solutions to the acute and long term security challenges in the country,� the statement read.

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Adichie’s Bookstore Anger Lights up Social Media “Are there bookshops in Nigeria?� The question posed by a French journalist last week incensed acclaimed Nigerian novelist Chimamanda Ngozi Adichie. At an event held in a ritzy Paris government building under crystal chandeliers, Adichie launched a blistering assault on perceived French arrogance. “I think it reflects very poorly on French people that you have to ask me that question,� said Adichie. “My books are read in Nigeria. They are studied in schools. Not just Nigeria, across the continent in Africa.� The subsequent outrage on social media was perhaps predictable: insults hurled at the French journalist amid accusations of racism and colonial prejudices. Adichie wasn’t done yet. The novelist, who was born in Nigeria but now lives in the United States, followed up with a Facebook post the next day arguing that the bookstore

question was “giving legitimacy to a deliberate, entitled, tiresome, sweeping base ignorance about Africa�. But not everyone wholeheartedly agrees. “You can’t say there aren’t any bookstores or libraries in Nigeria, that’s ridiculous,� Tabia Princewill, a columnist at local newspaper The Vanguard, told AFP. “But they aren’t pretty, and they are often religious books or educational books. In public libraries, there are almost no books,� Princewill said. “It’s shameful and it is not being anti-Africa to admit it. “The African elite don’t want to face the reality.� The bookstore debate is so polarising because it isn’t just about access to books, it’s also about the country’s troubled education system. As the population of West Africa’s biggest economy explodes, the government is struggling to educate its 190 million people. Nigeria has a 60 percent

Acclaimed Nigerian novelist Chimamanda Ngozi Adichie has launched a blistering assault on perceived French cultural arrogance afp literacy rate, one of the lowest among frontier markets, according to investment banking firm Renaissance Capital in note yesterday. There are vast regional discrepancies in the country, with the south boasting much higher literacy rates than the north, yet teacher quality and

student attendance are perennial problems. In her Facebook post, Adichie acknowledged the devastating effect of the Boko Haram jihadist insurgency on bookstores in the northeast. She said her uncle had owned a store in Maiduguri, capital of northeast Borno State and

birthplace of Boko Haram, but it had to close down when the city began to feel “too unsafe�. While the north struggles to counter the fundamentalist ideology of the jihadists, whose name translates to “Western education is forbidden�, the south has its own issues. Neighbourhood bookstores in Lagos, the country’s commercial capital with 20 million inhabitants, have to contend with patchy electricity, subsequent mould, and a market flooded with pirated books. Still, some find a way. Kayode Odumosu has always loved books and at age 11, he started working at his school library. In 1993, Odumosu opened Lagos Book Club in Festac, a small middle class neighbourhood. His 3,000 second-hand books are stacked tightly next to one another on long metal shelves. “I sell Shakespeare and all of Chimamanda's novels,� he says with pride. On a recent day in Jazzhole

-- the bookshop Adichie describes as her “favourite in Lagos� -the power is out and the air is muggy. There are biographies of Afrobeat king Fela Kuti next to books on Tehran and Venice. Owner Kunle Tejuoso took over the family business in 1975. “Well before the birth of Chimamanda,� he said with some amusement. The bookstore controversy doesn’t bother him much. “I’m used to it,� he said pragmatically. “When Westerners come to my shop they always have a little shock.� For all Nigeria’s problems, books are an integral part of its culture, he said. “The literary scene is exploding in Nigeria, we have a lot of new writers who make young people want to read. “Our greatest challenge is the internet. In the past, young people weren’t so easily distracted,� Tejuoso added, articulating a problem that affects bookstores both in France and Nigeria.

the capital market suggesting that Gwarzo was morally not fit and proper to investigate them as a regulator. Adeosun, who insisted that she did not have to wait until Gwarzo was handcuffed by the anti-graft agencies before intervening in the situation, further revealed that the suspended DG served as a director in two different companies while he held public office and was a signatory to their bank accounts. She added that the payment of the severance package amounting to about N104.85 million to himself while still in the public service constituted a breach of public sector rules and was not the standard practice in any other government parastatal as claimed by the suspended DG. She said Gwarzo should face the allegations of violation of public sector rules rather than resort to cheap blackmail. Adeosun maintained that the finance ministry did not interfere in the affairs of SEC but gave policy directions, adding that Gwarzo had severally sought policy guidance from her and even had her support to sanction capital market operators who were close to her and wondered how she could have stopped the Oando probe. The minister also refuted allegations that she or any member of her family has shares in Oando. “I took action in the best interest of investors,� she said. However, Gwarzo, who spoke after her presentation before the House committee, held that his suspension by the minister was illegal and not in conformity with any relevant sections of the public sector rules and ISA. He accused the minister of abuse of ministerial powers, adding that the administrative panel set up to investigate him was in conflict, as it included staff of her ministry.

He said the minister had no powers to suspend the SEC DG even for a day, as he is not an employee of SEC but an appointee of the president. Gwarzo further insisted that Adeosun tried to compel him in private to either resign or stop the forensic audit of Oando, a claim which the minister vehemently denied before the lawmakers. Gwarzo also said the payment of the severance package to himself was lawfully provided for having attained two years on the job as a commissioner at SEC before his appointment as its DG. He said he was entitled to the package, pointing out that it is the standard practice not only in the commission but also in other government institutions like the Central Bank of Nigeria (CBN) and the National Pension Commission (PenCom), among others. He argued that contrary to suggestions that he paid himself while still in public service, his appointment was a fresh one just like any other person that could have come from the outside, adding that he satisfied all the relevant conditions before being paid the severance package. But Adeosun countered him, saying it was not the practice in the institutions cited by him. Also, the acting DG of the commission, Mr. Abdul Zubair told the committee that he was not a party to the issues at hand since the events took place before his assumption of duties. There were however indications that two management staff of SEC who were suspended alongside Gwarzo may be recalled and subjected to a different disciplinary procedure. Zubair also said that in the spirit of fairness, it was improper to subject them to the same disciplinary measures as that of the suspended DG under the public sector rules.

PANEL RECOMMENDS GWARZO’S SACK AS ADEOSUN DEFENDS HIS OUSTER She equally disclosed that the report of the administrative panel of Inquiry was ready for submission to President Muhammadu Buhari. Her defence of her actions remains debatable, however, given that Gwarzo’s suspension last November coincided with his refusal to stop the forensic audit of Oando Plc, a Nigerian energy firm, after Adeosun had pressurised him to do so. Gwarzo, in his capacity as the DG of SEC, had ordered the Nigerian Stock Exchange (NSE) to place the shares of Oando on technical suspension, following allegations of capital market infractions against the energy company. Gwarzo had also acted on the petitions by two shareholders of Oando – Alhaji Dahiru Mangal and Ansbury Investment Inc. – who had accused the executive management of Oando of financial mismanagement and had sought for their ouster. Based on SEC’s subsequent investigation into the allegations by the company’s shareholders, Gwarzo as DG had listed various infractions committed by Oando and ordered a forensic audit be undertaken of the company to reaffirm the commission’s findings. However, the forensic audit was put in abeyance after the finance minister was alleged to have put pressure on Gwarzo to stop the audit, which he bluntly refused to do. Following his refusal, the minister suspended the DG, citing allegations of financial misconduct levelled against him and the setting up of the administrative panel to investigate him. But an incriminating memo with a record of the meeting in Adeosun’s office, where she had asked Gwarzo to stop the audit, was immediately leaked from her office less than 24 hours after his suspension

was announced. Although the minister has denied that she attempted to stop the forensic audit of Oando, no audit has been carried out of the firm to date. Trading on the company’s shares on the NSE and the Johannesburg Stock Exchange, where it has a dual listing, however, have remained under suspension. A copy of the report by the panel set up by Adeosun showed that it found Gwarzo guilty of violating public sector rules and financial regulations. In arriving at its recommendations, the panel chaired by the permanent secretary in the finance ministry, Mr. Mahmoud IsaDutse, said it made enquiries at the Corporate Affairs Commission (CAC), banks and other major stakeholders. The panel said it found official letters, bank accounts and credit cards that tied Gwarzo as a director to two private companies, while maintaining his position as the DG of SEC, terming his action “a breach of civil service rules�. The report, which has also been submitted to Adeosun, directed Gwarzo to refund N104.85 million, being the severance package he allegedly approved and paid himself after his appointment as DG of SEC. “Mr. Mounir Gwarzo should be dismissed from the public service of the federal government for holding positions of a director in private companies – Medusa Investment Limited and Outbound Investment Limited, while serving as DG SEC. “This is in breach of PSR 030424, PSR 030402 and Section 6 of the Investment and Securities Act (ISA), 2007. “He should also be referred to the ICPC for further investigation on the allegation of using his position as director-general to influence the award of contracts to Outbound

Investments Limited in view of the provisions of Sections 57 and 58 of the Public Procurement Act. “He should also be dismissed from the public service, having breached Paragraph 313 and 316 of the financial regulations for engaging in extra budgetary expenditure without appropriate approval,� the report quoted by the News Agency of Nigeria (NAN) stated. The panel also recommended that the cases of two management officers of the commission, Mrs. Anastasia Braimoh and Mr. Abdulsalam Naif, who were suspended alongside Gwarzo, be referred to SEC for appropriate disciplinary action, in line with the provisions of the staff manual of SEC. The panel advised the federal government to re-orientate public servants to the fact that the Public Service Rules and Financial Regulations are the grundnorm of every government service contract, be it at the federal, state or local government levels. “Accordingly, all government extra-ministerial departments and agencies should be made to understand that the PSR and FR are superior to whatever specific legislation and domestic arrangements that guide their operations,� it stated.

House Probes Suspension But before the report of the panel was made public last night, Adeosun had appeared before the House Committee on Capital Market and Institutions yesterday afternoon where she defended her decision to suspend Gwarzo. She informed the committee chaired by Hon. Tajudeen Yusuf (PDP, Kogi) that she did not have to wait for the anti-graft agencies to handcuff Gwarzo before

suspending him from office over allegations of financial misconduct. She equally said that the report of the administrative panel of Inquiry was ready for submission to the president. She said Gwarzo’s suspension was only a preemptive action that was taken to safeguard the integrity of the nation’s capital market and in order not to erode investors’ confidence, which is paramount to its viability. She said contrary to speculations, Gwarzo’s suspension had nothing to do with the forensic audit of Oando, but was done as a result of the weighty allegations of breach of public service rules. According to the minister, the investigations began after documents were delivered to the Whistle Blower Unit of the ministry against the embattled DG, following which he was queried. She said his response failed to address the issues raised. She told the committee that Gwarzo had to be suspended to allow for a thorough investigation, after it was discovered that critical documents were being removed from his office. Adeosun further said his suspension was in line with public sector rules. She argued that in the absence of a constituted board of SEC, she was technically empowered to fill in the gap. However, there were counter arguments over whether the minister has the powers to suspend a DG who is an appointee of the president. Also, there were contentions over whether ISA, which provides for the establishment of SEC and the provisions guiding the operations of the capital market, should have been ignored and the public sector rules deployed as reason for the suspension of the DG. Nevertheless, minister said there were numerous complaints by operators in

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

Ijaw Leaders: We Will Back Any Candidate Who Will Restructure Nigeria Emmanuel Addeh Ă“Ă˜ Ă?Ă˜Ă‹Ă‘Ă™Ă‹ Prominent Ijaw leaders, including the Governor of Bayelsa State, Mr Seriake Dickson; Deputy Governor of Delta State, Mr Kingsley Otuaro; elder statesman, Chief Edwin Clark, as well as political leaders of Ijaw extraction yesterday vowed to reject any presidential candidate in 2019 who does not support the restructuring of the country. Other leaders of thought who converged on Kiagbodo, Delta State, the country home of Chief Clark, to take a definite position on the raging call to restructure Nigeria were former Minister of Aviation, Alabo Graham Douglas, ex-Minister of Police Affairs, Chief Broderick Bozimo as well as National Assembly members and traditional rulers. After the meeting which lasted over four hours, Dickson said the leaders took a critical look at the issue of restructuring and took further steps to reaffirm their position that restructuring was a matter of survival to the Ijaw people. According to Dickson, the meeting resolved that Ijaw people who are the most affected by the current situation in the country would only vote candidates with genuine and demonstrable support for restructuring irrespective of political party. Special Adviser on Media Relations to the governor, Mr.Fidelis Soriwei, said in a statement that the leaders

insisted that the next general election would be a referendum on restructuring across Ijaw land. “The next election is going to be a referendum on restructuring because it affects the well being and survival of our people. We will support the candidates who are genuinely committed to the issue of restructuring,� the governor said. While lauding the work of the All Progressives Congress (APC) Committee on restructuring led by Governor Nasir el-Rufai of Kaduna State, the Ijaw leaders called on President Muhammadu Buhari to show the requisite courage by setting in motion the legislative framework to ensure implementation of the report before 2019. The leaders thereafter set up a committee on the issue comprising five representatives each from the three zones- the West, the Central and the East which has three weeks to submit its work. “We have also examined the subject matter of restructuring. People shouldn’t play politics with the issue of restructuring. It is about the survival and wellbeing of our people, it is about the stability of Nigeria. It is far more beyond politics, the Ijaws are passionate about it. “We commend all Nigerians from wherever they come from who are in support of this issue of restructuring. Concerning the recommendations of the APC committee, we call for sincere commitment, we call on the President to lead the charge to

INEC, NCC Seal Deal on Electronic Transmission of Results Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË In a deal certain to play a major role in the outcome of future elections in the country, the Independent National Electoral Commission (INEC) yesterday reached an agreement with the Nigerian Communications Commission (NCC) on the electronic transmission of results in the 2019 general election. The Executive ViceChairman of the NCC, Prof. Umar Danbatta, endorsed the deal when he met with the INEC boss, Prof. Mahmud Yakubu, at the head office of the NCC in Abuja yesterday. Speaking shortly after the meeting, Yakubu told journalists that the commission was committed to deepening democracy by deploying technology in the elections, saying it introduced and deployed the biometric voters’ register in the 2011 general election and the smart card reader in the 2015 general election. He emphasised the time had come to electronically collate and transmit election results, adding that the measure would ensure faster transmission

of results more accurately from the polling units to the various collation and declaration centres. The INEC boss noted that in several re-run and bye-elections conducted since the 2015 general election, the commission has deployed the electronic collation and transmission platform on a pilot basis. “We conducted simultaneous electronic and manual transmission of results in some major elections. We are planning for full deployment this year in the governorship elections in Ekiti and Osun States later this year. Thereafter, we intend to deploy the system in the 2019 general election,� he said. Danbattas in his remarks, expressed his commission’s commitment to ensuring the success of the 2019 polls, stressing that it would not renege on its mandate. He said electronic speedy technology would be deployed for the collation of results. He, however, expressed concern over the nonavailability of the 4G (LTE) Network in the northern part of the country, save for other parts of the country.

restructure the country which will lead to an equitable just and fair Nigeria,� Dickson said. The leaders said all they wanted was a restructured country within the context of a corporate, united and peaceful Nigeria that guarantees equal right for all Nigerians, adding that only restructuring can guarantee peace in the country. Also in attendance were Ambassador Godknows Igali, Prof. Dagogo Fubara, Prof Nimi Briggs, Prof Joe Ajienka, Prof C. Dime, Prof Steve Azaiki, Dr Pius Sinebe, Chief Wellington Okrika, Bayelsa State Commissioner for Culture and Ijaw Affairs, Dressy Dressman and a host of other Ijaw leaders. In his comments, Clark stressed that restructuring was beyond politicking, insisting that

any presidential candidate who was opposed to restructuring would face rejection in Ijaw land during the election. Meanwhile, the Ijaw Youth Council (IYC), yesterday expressed delight over the el-Rufai report, especially the portion that recommends state ownership of onshore mineral resources, including oil. “This is clearly not the whole of what we want because we desire total control of our resources onshore and offshore, but it is certainly a giant leap towards what we have always agitated for as Ijaw people. “However, we worry that this may be political and not backed by sincerity. Recently, the federal government promised the clean-up of Ogoni land and till date we have not seen the

funding of that programme and for unacceptable reasons. “If the APC-led federal government is sincere, let them show sincerity by immediately setting up various committees and put to work all stakeholders to ensure the recommendation is achieved in the shortest possible time before the 2019 elections. “If not we would see this as one of its numerous strategic scams. We are also calling on all southern members of the National assembly to take this up as a project�, a statement by Alfred Kemepado, Secretary General of IYC said. Also, in a statement by Daniel Dasimaka, the IYC Spokesman, the youths applauded the “far-reaching� recommendations by the committee.

“The Ijaw people are not completely in agreement with the recommendation which still vests ownership and control of offshore petroleum resources on the federal government, after all these years of marginalisation; because the oil producing communities who live on the banks of Rivers where the offshore resources are located suffer from the negative effects of oil and gas exploration and exploitation. “While we commend the el-Rufai Committee for its painstaking efforts and bold recommendations, in the same vein we request the committee to revisit and expunge the vesting of the right to ownership and control of our offshore resources on the federal government,� the IYC argued.

TAKE HEART Lagos State Governor, Mr. Akinwunmi Ambode (middle), with the children of late Deji Tinubu, Tamilore (left) and Moyosore

(right), during the funeral service of their father held at the RCCG City of David Parish, Victoria Island, Lagos‌ yesterday

Patience Jonathan Losses N2bn Rights Suit against EFCC Alex Enumah Ă“Ă˜ ĂŒĂ&#x;ÔË Former First Lady, Mrs. Patience Jonathan, lost the N2billion fundamental rights suit filed against the Economic and Financial Crimes Commission (EFCC) following the dismissal of the suit by Justice John Tsoho of the Federal High Court in Abuja yesterday.  Tsoho in his judgement delivered held that Mrs. Jonathan in her submission failed to sustain claims of violations of her fundamental rights by the EFCC. The judge further held that her suit was largely weakened by the respondent deposition that investigations of the alleged crimes said to have been committed by her are ongoing and in progress. The commission had in its deposition averred that bogus sum of money were lodged in the sealed bank accounts linked to the former first lady.

Justice Tsoho held that the law does limit the period on investigation of a crime and further held that the case of the applicant was not sustained. On the complaint by the former first lady that the EFCC violated her rights to private and family life, the judge said there was no evidence to show that the respondent raided her houses. This is so, particularly as EFCC denied it took part in the raid. “No verifiable evidence to prove that the applicant (Patience) is being hunted because of her views expressed during the 2015 general election campaign,� the court stated. On the applicant’s alleged violation of her rights to fair hearing before the properties were sealed, the court held that her rights have not been violated as the court has granted the anti-graft agency an interlocutory injunction sealing the properties on a reasonable

ground of suspicion that they were obtained by proceeds of crime. Justice Tsoho also justified the preservative order, adding that it does not amount to the violation of the applicant’s right. He dismissed claims that most of the email exhibits annexed by the applicant are online publications. “Having made out this, I hold that the applicant is not entitled to any of the reliefs sought. Consequently, the applicant’s suit is hereby struck out,�,Justice Tsoho held. Earlier, while delivering the judgment, the judge had dismissed EFCC objection that Patience suit was an abuse of court process. He said: “The suit is not an abuse of court process as Patience was not a party in any of three suits in Lagos.� Mrs. Jonathan had in her suit filed by her counsel, Ifedayo Adedipe (SAN), prayed the court

to order EFCC to pay her the sum of N2billion as general damages/compensation jointly and severally for the violation of her fundamental rights. She wanted the court to declare that her incessant harassment by the EFCC through negative media publications, denigrating and degrading her person as corrupt without any invitation by the Commission, trial or conviction by a court amount to a violation of her rights under Section 37 of the 1999 Constitution of Nigeria. The former first lady also prayed for a declaration that the indiscriminate freezing of her bank accounts and those of her relatives by the EFCC under the guise of investigation of proceeds of crime without any invitation or interrogation by the respondent (EFCC) is a violation of her rights to own property and to fair hearing guaranteed under Sections 44 and 36(1) of the 1999 Constitution.Â

WEDNESDAY, JANUARY 31, 2018˾ T H I S D AY

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NEWS

Saraki: Separation of Powers Key to Survival of Democracy, National Security The Senate President, Dr. Abubakar Bukola Saraki, yesterday said the full adherence to the principle of separation of powers was crucial to the survival of the democracy, good governance and enhanced national security. Saraki stated this in his lecture entitled: ‘Separation of Powers and National Security in Nigeria: An Appraisal’, presented to Course 26 participants of the National Defence College (NDC) in Abuja, according to a statement by his Chief Press Secretary, Sanni Onogu. He stated that a situation where people frown at the actions of the legislature taken in the course of carrying out its constitutional duties negates the principle of separation of powers and the rule of law. He noted that each arm of government is intended and designed to be free of coercive influence from another, “But, regrettably, that is not always the case, in practice, in the Nigerian experiment,” Saraki said. He added: “Section 60 of the 1999 Constitution provides that: ‘Subject to the provisions of this Constitution, the Senate and the House of

Representatives shall have the power to regulate its own procedure, including the procedure for summoning and recess of the House “We, in the legislature, as representatives of the people, strive to carry out our oversight functions in line with the doctrine of separation of powers – because it is our duty as stipulated by the constitution. “We also do so to guard against Lockean ‘human frailty’ – by which I mean the tendency towards abuse of power, where such power is absolute. To one’s chagrin, however, our actions are often misconstrued, because few understand that the legislative arm of government is not a rubber-stamp, driven from pillar to post by the whims and caprices of another organ of government. “Let all listening to me today note the unassailable position, which is this: the executive, the judiciary and the legislature are co-equals; none is subordinate to the other. Indeed, as former Senate President Ken Nnamani once opined, ‘The legislature and the executive are co-managers of the economy.’” According to the president of the senate, the press is replete

with stories of ‘face-offs’ between the legislature and executive, real or imagined. These, he said, include unguarded pronouncements by a former Secretary to the Government of the Federation (SGF) and other government officials concerning the Senate; or the refusal of the heads of some government agencies to answer when summoned by the legislature. Saraki said: “The refusal of the Senate to confirm certain nominees of Mr. President has drawn undeserved ire in many quarters. These are people who misconstrue the role of the legislative arm, because we are perfectly within our bounds under the Nigerian constitution. “In any case, if the Senate confirms two nominees and rejects one –should we be seen as attacking the executive? Or should we not ask whether there are weighty questions to answer on the part of the nominee? Why is the legislature vilified when occasionally, a nominee fails to scale through. “We really should ask ourselves the tough questions, rather than parroting the fallacy about the legislature not playing along with the executive. Ask yourself what kind of democracy

we would have if all powers resided solely in one arm of government. “That is why I sometimes marvel at the hypocrisy of some vociferous voices who claim that they are fighting for democracy and yet they keep quiet when one arm of government repeatedly imposes its will on the judgment of a co-equal arm of government. “Democracy and the rule of law depend on four elements – deliberation, engagement, participation and collaboration. The constitution says that if you want to wage war or call out troops you must go to the National Assembly and you don’t – is that in tandem with separation of powers? “Even in the United States that we modelled our system on, the White House must engage with Congress in the formulation of critical policies on security and defence. “If the constitution prescribes who may be appointed into certain positions and you flout that – should the legislature not take a stand in the public interest? Or the fact that one judge is believed to be corrupt – does that justify one arm of government breaking down the doors of members of an independent judiciary? “American judges have

blocked many Executive Orders made by President Donald Trump, including those on the Muslim Travel Ban, Immigration and Sanctuary Cities. Despite Trump’s frenetic twitter activity voicing his displeasure, the judges’ rulings stand – because the judiciary is free from the coercive influence of the executive. “The travails of the Nigerian legislature have unfolded under the cloud of many challenges confronting the nation. These only serve to destabilise government, and cannot be good for national security. “In a country that is an amalgam of some 250 ethnic nationalities under one flag, unhealthy rivalries are a symptom of systemic distress, for the avoidance of which separation of powers was propounded,” he said. He further said: “A successful regime of separation of powers would require much more than enacting more laws and amending existing ones. It would require the active compliance with the doctrine from all arms of government. “As the legislature, we would require the executive to give due regard to legal decisions, invitations and resolutions of the National

Assembly. Let me quickly add that we will hold ourselves to the same rules vis-a-vis our co-equals. Despite the clarity and gravity of the constitution on the independence of the legislature, the Deputy Senate President and I have been subject to prosecution over the internal affairs of the Senate. “The way we are elected and our processes – we are independent. It was therefore foolhardy of government to mount such prosecution. “The courts have ruled multiple times that the National Assembly’s internal affairs are inviolable – and yet, what we saw was a ready willingness to cross the line and mount a case, in a flagrant overreach of executive power. Let me say that I view this as a distraction and a legal affront to the principles of separation of powers. “The way forward, having recognised the necessary value that separation of power brings to the strengthening of our democracy, it is important then that we chart a course that ensures that the inviolability of our institutions becomes a mandate for the protection of our democracy.

T H I S D AY WEDNESDAY JANUARY 31 2018

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COMMENT

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

SERVES US RIGHT

Sonnie Ekwowusi urges Nigerians to be more discerning in future elections

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r. Olusegun Obasanjo’s letter dated January 23, 2018 to President Muhammadu Buhari has further drummed home the point that President Buhari is an unfit and incompetent person to be the president of Nigeria. Come to think of it, there is nothing really new in the Obasanjo’s letter. Buhari is an open book accessible by all. The paradox, however, is that Nigerians have refused to learn from painful history. When will we learn? Prior to the 2015 Presidential Election, we were warned that Gen. Muhammadu Buhari was an unfit and improper person to lead Nigeria yet we ignored the warning. For instance, in his article entitled:� The Nigerian Nation Against General Buhari�, Prof Wole Soyinka stated, inter alia, “Buhari – need one remind anyone - was one of the generals who treated a Commission of Enquiry, the Oputa Panel, with unconcealed disdain. Like Babangida and Abdusalami, he refused to put in appearance even though complaints that were tabled against him involved a career of gross abuses of power and blatant assault on the fundamental human rights of the Nigerian citizenry. Prominent against these charges was an act that amounted to nothing less than judicial murder, the execution of a citizen under a retroactive decree. Does Decree 20 ring a bell? If not, then, perhaps the names of three youths - Lawal Ojuolape (30), Bernard Ogedengbe (29) and Bartholomew Owoh (26) do. To put it quite plainly, one of those three – Ogedengbe - was executed for a crime that did not carry a capital forfeit at the time it was committed. This was an unconscionable crime, carried out in defiance of the pleas and protests of nearly every sector of the Nigerian and international community – religious, civil rights, political, trade unions, etc. Buhari and his sidekick and his partner-in-crime, Tunde Idiagbon persisted in this inhuman act for one reason and one reason only: to place Nigerians on notice that they were now under an iron, inflexible rule, under governance by fear. The execution of that youthful innocent – for so he was, since the punishment did not exist at the time of commission - was nothing short of premeditated murder, for which the perpetrators should normally stand trial upon their loss of immunity. Are we truly expected to forget this violation of our entitlement to security as provided under existing laws?� During the 2015 presidential campaigns, we were again warned that Buhari would not make a good president, yet we ignored the warning. At that time, newspaper advertorials with reverting titles such as “Buhari is a Soldier: Once a Soldier always a Soldier�, “Buhari is not qualified to rule Nigeria�, “Buhari cannot be trusted� were constantly inserted in our national dailies. In his response to the clamour for Buhari by some Nigerians in 2014, Prof Soyinka said: “It is astonishing to find that the same former slaves, now free of their chains, should clamour to be ruled by one who not only turned their nation into a slave plantation, but forbade them any discussion of their condition.� Even a seemingly inconsequential and unpopular body such the Association of Witches and Wizards in Nigeria warned Buhari to perish his thought of ruling Nigeria because the witches and wizards in Nigeria would not allow him to rule Nigeria. Eminent journalist and editor of THISDAY, Saturday Newspaper, Shaka Momodu, penned down a series of articles bothering on the unfitness of

WE HAVE TO MAKE A CLEAN BREAK FROM OUR RUINOUS PAST. THE VOTERS SHOULD BE MORE DISCERNING IN 2019 PRESIDENTIAL ELECTION

Buhari to rule Nigeria yet the people did not listen. Emir of Kano and former Central Bank Governor, Sanusi Lamido Sanusi has been crying wolf about the foreign exchange corruption under the Buhari government yet we refused to listen to him. Hear the Emir: “We created billionaires from oil subsidies in the past. We are making the same mistake with Forex‌as an Emir, I can sit in my garden and make phone calls to access $10 million at N197 per $ then sell it off at nothing less than N300. With just a phone call, I’m making a profit of over a billion naira. That is what people are doing now‌Any system that allows you sit in your garden and make a billion naira without investing a kobo is a wrong systemâ€?. Asiwaju Bola Tinubu has consistently shown his displeasure for President Buhari’s lack-lustre performance in government. Even President Buhari’s wife Aisha Buhari has since passed a vote of no confidence on her husband. So, as I said earlier, Buhari is an open book accessible by all to read. The problem is that the ordinary Nigerians are enmeshed in deep followership crisis. The emergence of Buhari as a president of Nigeria, for me, bespeaks the political followership crisis in Nigeria. The ordinary Nigerians who are now complaining on WhatsApp, Facebook, Twitter, etc., that corrupt politicians have ruined Nigeria are accomplices in the making of the corrupt politicians ruining Nigeria. For example, if the Nigerian electorate had voted wisely in the last presidential election, and thereafter followed up their votes to their ultimate destination Buhari would not have emerged. The choice of Buhari in 2015, it is said, was a Hobson choice in the sense that instead of reelecting Goodluck Jonathan whose government was knee-deep in corruption Buhari was a preferred option. But as Prof Soyinka rightly queried, why clamour for the same dictator who had turned Nigeria into his slave kingdom and even forbade any freedom from such slavery? So, Nigerians are the architects of their own ruin. Our woes in Nigeria, if you like, are self-inflicted woes. For example, when a Gani Fawehinmi presents himself for election he is rejected on the pseudo-rationalisation that a Gani cannot successfully rule Nigeria. When a Pat Utomi presents himself for election he is also rejected on the flawed argument that he lacks the “political baseâ€? or “political platformâ€?. But when a Buhari presents himself for election he is enthroned as a king. Therefore the ordinary Nigerians should blame themselves for their predicament. Obasanjo’s letter, in my view, calls for self-chastisement. If Nigeria were a country where the voters use their heads and hearts during elections, none of the failed politicians responsible for the abject poverty in Nigeria would have been voted to power. As Obasanjo rightly suggests, we have to make a clean break from our ruinous past. We have to look beyond the Peoples Democratic Party and All Progressives Congress in 2019. The voters should be discerning in 2019 presidential election. They should not be carried away by mere fanatical impulse and sentiments. The Presidency is the focus of power and responsibility in presidential democracy. Therefore it is essential that the Presidency functions effectively. If the president is incapacitated both in intellect and health, the presidential democracy will be incapacitated.

ARRESTING THE SHITHOLE SYNDROME

President Trump’s insult should be taken by the continent as an incentive to act right, argues Victor C. Ariole

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f speech patterns could help in identifying cultural identities, one could easily say that Donald Trump is more African- American than Barack Obama. Before ever Trump was said to have used that word, two African -American ladies at Newark Airport, used it against me for merely asking them my way at the airport, and even told me that the days of “people like you� in USA are numbered as Trump took over the mantle of power. In effect, one’s colour or complexion, as people from different continents come to USA, does not exclusively link to cultural identity. There are black Latinos, there are Caribbean blacks, there are French or British blacks and so on. However, it is possible that at first sight, an African -American could admit “a brother me� or “a sister me� needs a help and empathy comes in, but as you speak and your speech pattern does not involve “shit�, “fork�, “bullshit�, etc., all the embarrassing words that define the man or woman oppressed or harassed, the African-American withdraws from being empathic. I have witnessed that not only in Newark but in some other airports and cities of USA. To my greatest surprise, the Latinos had proved more helpful than others. In effect, people could be impatient with you when they discover that you behave like “Mumu�, being on a very “fast lane� and refuse to move, and the rest of the world seems to be in haste to enter the fast lane, and African countries are not keying-in. The option available is to close the fast lane or kick away anyone on the fast lane not responding to

the speed expected. Beyond Trump’s frustration, my own father, about 10 to 15 years older than Trump, had used the shithole word on me when I was younger. Whenever my father was frustrated out of my ignorance or weakness to catch up with a knowledge process, he had called me either ichi, utu, otele or onu ike. In Igbo language it is shithole. Initially I did not know the worth of its valence projection till I started philosophising about it and started avoiding annoying him so as not to call me names. Furthermore, he related it to “okporoko� child – stockfish child; a child born with signs of “not going to add value to humanity�. He told me that such children are surreptitiously and courageously done away with the way people treated “Okonkwo� in Chinua Achebe as a wicked father; or, even Chimamanda treated the African father image in “Purple Hibiscus� as great evil. Ironically, some of these fathers are some of the frustrated two million African-American fathers in American prisons as a result of frustrated expression of fatherhood. Thank God Obama reduced it from three million to two million. It is true that Africans had suffered slavery for about 500 years now, and it keeps on evolving from physical slavery, through spiritual slavery to the current political and economic slavery. The elite is yet to understand how to arrest the “rain beating� process; and it is only when you identify where and when and how the rain started beating you that you can arrest the situation.

There are opportunities in threats. The re-ordering process Trump seems to be initiating could be opportunities for Africans to wake up or seek for the closure of the fast lanes the way the herdsman and Boko Haram seem, unashamedly, asking the South and Middle Belt Nigerians to do. Whether we like it or not what is happening to us in Nigeria is part of shithole syndrome; very rich country and experiencing voluntary slavery of its citizens as no fewer than 3000 of them die each year trying to cross the Mediterranean Sea begging to be enslaved. Indeed, they could also be people running away so as not to be infected by the shithole syndrome, including being killed by the herdsman. While Nigeria is planning to bring back 5000 Nigerians enslaved in Libya, I was astonished, right on my nose in Montreal “wowing� a Nigerian lady who, clinging two children, was being welcome as refugee. A great feat; to escape dying in the sea with such children and making it to Canada, the lady is worth celebrating! So, who says that Trump’s frustration of the weakness of the African leaders should not be seen as wake-up call. Thank God Yoweri Museveni of Uganda had accepted the challenge and Paul Kagame of Rwanda is working hard to re-position Africa with his attitude of “no-visa� for any African with African Union passport. Like Kadaria Ahmed said in an interview with Anthony Bourdain, Africa needs a nation in Africa as a model to lead the rest towards total well being of its over one

billion people, so as to direct the great energy some youths use in the scam game to positive productive ventures. As she exclaimed: imagine they were literate or educated enough! African youths are very well disposed to act right if the right models are pushed into the social platforms for them to emulate. This is where I commend partially the brain drain process and expect it, also, to reverse to brain gain for Africa if geographical portion of Africa could be allocated to the Africans in the Diaspora, as model country the way Israel is to the Jews, for development purposes. Trump is a very good omen to the African world, and it has to be seen as so. His speech pattern is almost African-American, and like great African fathers who care to see that their children progress, they intermittently chip in harsh words, not curse. My father had never cursed or beat me; but out of frustration he had always shouted “ichi� or “onu otele� and that had always jerked me up to act right. Trump, indeed, is the father African leaders need now to act right and as his son, Trump Junior, once said that the only colour his father related with is green – fertility and productivity – and any one with green background is his friend. So let African leaders and elite discard their evil colours and enact a green background for the new world re-ordering “en marche� – on the move. Ariole is a Professor of French and Francophone Studies, University of Lagos

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EDITORIAL FOR THE PRISON REFORMS’COMMITTEE‌1 The shelves are filled with reports on how to reform the prisons

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n yet another bid to decongest the prison, the Attorney General of the Federation and Justice of Minister, Mr Abubakar Malami recently inaugurated a national stakeholders’ committee. Chaired by the Chief Judge of Federal Capital Territory High Court, Justice Ishaq Bello, the committee was charged with the responsibility to oversee the implementation of a directive by the Federal Executive Council to fast-track decongestion of prisons. While we have nothing against setting up such a committee which was also mandated to carry out periodic analysis of the number of detainees, including those discharged, granted bail or convicted; conduct audit of criminal cases pending in courts to ascertain causes of delay in prosecution, and to undertake an audit of prison facilities with a view to determining their capacities, we must state very quickly that there are already several reports that the federal government can use if it is really serious about reforming the prisons. A notable one is the National Human Rights Commission (NHRC) 2012 prisons report which focused on the SOME OF THE KEY structure, facilities, RECOMMENDATIONS access to justice and FROM PREVIOUS REPORTS welfare issues, among INCLUDE THE REMOVAL others. OF PREGNANT WOMEN, It is noteworthy NURSING MOTHERS AND that the committee THEIR INFANTS FROM is already visiting PRISONS SO THEY COULD the prisons and has BE KEPT IN SPECIAL indeed set some MOTHER CENTRES inmates free. But if there is going to be a meaningful change in the system, the federal government team must go beyond that. The distress, the health conditions and the poor sanitary situation of these prisons are disgraceful and so are many of the reasons that militate against prison decongestion. Inmates like those thrown in for wandering, for chicken theft, and related petty crimes are usually consigned to cleaning and cooking and therefore

Letters to the Editor

considered essential part of the prison workforce. Will they be set free this time around? Indeed, the challenge has always been the implementation of reports. Some of the key recommendations from previous reports include the removal of pregnant women, nursing mothers and their infants from prisons so they could be kept in special mother centres as provided for under Section 248(2)(a) and 250(7) of the Child Rights Act 2003.

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ecommendations from previous reports also include discharging prison inmates who were arrested and locked up for minor offences while those who are above 60 years are recommended for discharge on account of old age. On compassionate grounds, inmates with life-threatening ailments are to be released to their families for adequate medical attention. Along this line also, persons who have awaited trials for over four years are recommended to be considered for conditional bail, while those who have stayed more than their terms in the course of awaiting trial should be granted unconditional release. Similarly, persons who have awaited trial for more than 10 years, no matter the offence, are to be considered for unconditional release. All inmates with mental challenges who are usually classiďŹ ed as “lunaticsâ€? are to be removed from prisons and taken to appropriate health institutions in accordance with the provisions of the UN Standard Minimum Rules, international Human Rights Standards and Section 34 of the Constitution of Federal Republic of Nigeria, 1999. Beyond these recommendations, which were never implemented, a major challenge to reforming the Nigerian Prisons systems is the state of the infrastructure. For instance, some of the prisons have for several years been caught up by urban encroachment. Glaring examples are Suleja, Benin, Okene, Ikoyi and Agodi Prisons, among others. Such prisons have since been recommended to be relocated from their present sites while the old and dilapidated ones are supposed to be rebuilt, yet nothing has been done in that direction. ‌To be concluded tomorrow

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

ABUBAKAR MALAMI AND BUHARI CRITICS

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o be honest, no administration in Nigeria has ever lacked a fair share of critics who are ever so quick to spin a president’s action or speech to fit their negative narratives. But no administration has been so unfairly targeted by a section of public commentators as the current administration of President Muhammadu Buhari. Right from the inception of the administration, this category of critics had risen up in arms as if Buhari was a usurper who dethroned the legitimate ruler of their kingdom. To these critics, or those Femi Adeshina, Presidential spokesman, appropriately called “the wailers,� it does not matter whether the president’s actions or utterances are in public interests. Their occupation is to pull him down and cast him and his administration in the garb of ethnic and religious bigotry. More unpatriotic and damaging is their penchant to lampoon the administration’s fight against corruption as phony and targeted only at the president’s perceived political enemies. Unfortunately, due to the president’s characteristic taciturn nature, some of these fallacious postulations have assumed the complexion of truth. This has also robbed off on cabinet ministers and other political appointees perceived as close to the president. The worst victim of this calumny is Abubakar Malami, the Attorney-General of the Federation and Minister of Justice who has been demonised and cast as the official Judas Iscariot of the Buhari administration. This is the impression one is bound to get after reading The Punch newspaper editorial of January 16 captioned “Malami’s

curious bid to protect Maina.� The paper asserted that Malami defied logic when he reportedly went to court to stop the Senate from probing Abdulrasheed Maina, the former chairman of Presidential Pension Reform Task Team, and that his action posed “ a patent embarrassment to the government.� Expectedly, the diatribe was extended to President Buhari as the paper, with a tone of finality, declared that “Without a doubt, the AGF’s action raises questions which impinge heavily on Buhari’s personal integrity and claim to fighting corruption. The paper made no attempt to give the AGF benefit of doubt by examining possible reasons why the nation’s chief law officer could have taken such a step. Malami’s action was simply interpreted as fitting a narrative of giving cover to alleged corrupt persons. Nothing can be more unfair and evil than to subject a public officer to such scathing commentary based on pre-conceived biases. Not only are the allegations untrue, but the AGF is one of the Buhari appointees that has an impressive anti-corruption stance that is well-known to those in government. The facts on Mainagate contradict the obvious plot to tarnish the image of the AGF. The paper said Buhari ordered Maina’s immediate sack when he had been re-instated. Now, Buhari could not have done this without the advice of his chief law officer. What that means is that Malami must have been as scandalised as Buhari about the whole saga. The president also ordered an investigation into how Maina was allegedly re-absorbed into the civil service. The paper is

quite aware of this but said it was curious that the president was yet to make the outcome of the investigation public. Are they saying that the investigation was taken too long, and so something fishy must be going on? Who by now is not aware of President Buhari’s style when it comes to issues of alleged corruption? The president is never in a hurry to condemn, but takes his time to be sure he’s going to take the right action and punish the right people. Some critics may find this unacceptable, but it does not amount to condoning corruption or undermining the anticorruption war. While AGF and the Presidency were taking action to get to the root of the Mainagate, the Senate waded in and said it was also investigating the matter. Who does not know what National Assembly investigations are about? They are never intended to find out the truth, but to intimidate government officials for reasons we all know. Yet the AGF and others submitted themselves to this so-called investigation, and we all saw the drama that played out. Has the paper bothered to ask about the Senate report on the investigation? How has the Senate investigations brought us closer to solving the Maina riddle? Now pray what fresh investigations does the senate want to carry out again on the Mainagate? In a democracy where there is clear separation of powers, why is the country’s highest legislative chamber poking its nose in what is clearly outside its jurisdiction? Wale Suleiman, Abuja

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

THE NEWSMAKER

Assessing Obasanjo’s ‘Third Force’

Iyobosa Uwugiaren takes a critical look at the ‘Third Force’ as proposed by a former President Olusegun Obasanjo

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or many who know former president Olusegun Obasanjo very well, he has just capitalised on the swelling grumbles by Nigerians -- over the suffocating economic environment, frightening security challenges and ethno-religious crises in some parts of the country, to set the polity ablaze -- when he passed a vote of no confidence on President Muhammadu Buhari. He said that the president lacked the capacity to govern Nigeria and therefore needs a dignified and honourable exit. In his 13-page statement titled, “The Way Out: A Clarion Call for Coalition for Nigeria Movement,” Obasanjo advised the president not to seek re-election in the 2019 general election, saying Nigerians deserve and urgently need better than what Buhari had given or what he is capable of giving. Obasanjo went further to enumerate three other areas where he claimed Buhari had come out more glaringly than most Nigerians thought they knew about him. “One is nepotic deployment bordering on clannishness and inability to bring discipline to bear on errant members of his nepotic court. Obasanjo This has grave consequences on performance of his government to the detriment of the nation. candidate-sponsoring movement for elections, he “It would appear that the national interest was would bow out of the movement because he will being sacrificed on the altar of nepotic interest. continue to maintain his non-partisan position. Even though an insider said that Obasanjo’s What does one make of a case like that of Maina: collusion, condonation, ineptitude, incompetence, prescription of third force as an option was dereliction of responsibility or kinship and friend- ‘’deliberate’’ -- as he does not want to be accused ship on the part of those who should have taken of taking side with any political party, many visible and deterrent disciplinary action? How political analysts argued that what the nation many similar cases are buried, ignored or covered really needs at his time – less than a year before up and not yet in the glare of the media and the general election, is a critical engagement with the moment and its definitions from various the public?” He asked. The former president said the second was the perspectives. ‘’The mood also calls for a sincere president’s poor understanding of the dynamics political introspection. To start with, the former of internal politics, noting that this has led to president deserves a salute for his courage of ‘’wittingly or unwittingly’’ making the nation conviction. His voice came when such a loud more divided and “inequality has widened and voice was needed from such quarters. The voice become more pronounced.’’ It also has an effect would doubtlessly resonate with many people who are legitimately displeased with the state of on general national security, Obasanjo added. “The third is passing the buck. For instance, things’’, THISDAY’s Deputy Managing Director, blaming the governor of the central bank for Mr Kayode Komolafe argued. Agreeing that Obasanjo is a positive force devaluation of the naira by 70 per cent or so and blaming past governments for it, is to say the for national unity any day, Komolafe was of least, not accepting one’s own responsibility’’, he the view that his pronouncement could be as added, Unlike what Obasanjo did in 2015 – when magisterial as much as possible, doubting if the he wrote a similar letter to former President former president was suited to be the arrowhead Goodluck Jonathan at the peak of the general of a third force for the type of change being election and later backed the then opposition party, canvassed in many serious quarters. ‘’He is too prominent a figure in the old order for APC, he said that what has emerged from the opposition (PDP) had shown no better promise any fresh intervention to make him an exponent of change for the sake of progress. It is a contradiction from its antecedents. ‘’As the leader of that party for eight years that Obasanjo with his ideological mindset is as President of Nigeria, I can categorically say now the symbol of a third force which hopes to there is nothing to write home about in their draw on the demographic asset of the youth’’, he further said. ‘’In any case, his prescription is new team’’, he submitted. Obasanjo’s prescription: “We have only one choice rather ambiguous. He says he is out of partisan left to take us out of Egypt to the promised-land; politics, but the Coalition for Nigeria (CN) would and that is the coalition of the concerned and the aim at power employing the ballot. However, only willing – ready for positive and drastic change, registered political parties can field candidates for election.’’ progress and involvement,” he said. Apart from the APC and the PDP, Komolafe Seen by many sound political experts as unrealistic recommendation, Obasanjo was emphatic that further argued that there were dozens other the polity needs a Coalition for Nigeria (CN), political parties waiting with their virtually empty saying such a movement at this juncture needs political sacks to be filled with contents so that not be a political party but one to which all they can stand in 2019, adding that the energy, time and resources be put on strengthening the well-meaning Nigerians can belong. He added, ‘’That movement must be a coalition existing parties for elections rather than forming for democracy, good governance, social and fresh ad hoc coalitions. ‘’In sum, Obasanjo is entitled to his own diagnosis economic well-being and progress; a coalition of the Nigerian condition. He has fulfilled a patriotic to salvage and redeem our country. “You can count me with such a movement. Last duty by making this intervention. However, the time, we asked, prayed and worked for change way out of the problem that he has prescribed and God granted our request. This time, we must for Nigeria looks narrow. ‘’A wider way out is what is needed at this ask, pray and work for change with unity, security and progress. And God will again grant us.’’ He time. It is also important to put the prescription said that nothing should stop such a movement in the context of the recent history of this country from satisfying conditions for fielding candidates in order to understand it better and possibly for elections but was quick to state that if at any predict its efficacy’’, he said. Expectedly, the APC also dismissed Obasanjo’s stage the movement wishes to metamorphose into

option of a third force intervention in the nation’s politics. Disagreeing with the former president in what it described as ‘’a wholesale dismissal of the entire political system in the country’’, APC in a statement signed by its National Publicity Secretary, Bolaji Abdullahi, acknowledged its challenges as a new political party, even as it claimed that ‘’APC remains the best option’’ at this time for all Nigerians who are genuinely committed to the progress and development of the country. Arguing that there were about 72 other registered political parties in the country and the people reserve the right to support any of these, APC rationalised that the nation’s democracy itself is young and hence all the parties face sundry challenges, saying the country had made progress since 1999, with Obasanjo himself being a major contributor to the progress as a multi-party democracy. APC continued, ‘’It is for this reason that we believe the respected former president should not give the impression that none of the political parties in the country is good enough for Nigerians and the only solution to the current challenges that we face is a completely new arrangement.’’ On its part, the major opposition party, PDP argued that repeating the old mistake of congregating political strangers cannot help the country at this time, more so, when the few concerns raised by Obasanjo about the PDP no longer obtain under the ‘’refocused and rebranded’’ PDP. According to the the party’s spokesman, Kola Ologbondiyan “The PDP is now standing on a truly democratic ground that perfectly represents and reflects the hopes and aspirations of all Nigerians, irrespective of their class, creed or tribe. “That is why our great party has now, more than ever before, become a centre of the new patriotic and broad-based engagements by well-meaning Nigerians and coalitions across board, including past leaders, in rekindling our democratic process that places priority on returning power to the people.’’ PDP added that Nigerians overrated Buhari in 2015 but have now seen that he never possessed the capacity and the required aptitude to effectively govern the nation and pilot a healthy economy. It said that while the APC was already caught up with Buhari, the PDP was open for a new engagement that would throw up the president, “which our nation truly deserves at this crucial moment”. He called on Nigerians, including all leaders across board, to come together to rebuild the nation on PDP’s consolidated base rather than traversing on another learning curve. To be sure, the near consensus by many commentators -- since Obasanjo ‘’bombed’’ Buhari, is that there is a dishonest intellect of importance

and religiousness around Obasanjo that often borders on mischief and two-facedness. Some commentators were quick to point to how he wasted billions of ‘’corruptly acquired’’ funds to pursue an illegal third term as president, and now rising up against a ‘’legitimate second term’’ for an incumbent president. Historically, Obasanjo is known to have written a similar thesis condemning everything about former military dictator Ibrahim Babangida and his government. There was a similar umbrage by Obasanjo against late Sani Abacha Administration but was not taken so friendly by that administration. Obasanjo was arrested, charged for plotting a coup, convicted and imprisoned, until he was brought out to carry the trophy that the winner of the June 12 1993 presidential election, late MKO Abiola, paid for with his blood. The government of Yar’Adua/Jonathan, which Obasanjo allegedly imposed on Nigerians -- after his failed third term bid, was also not spared by his vicious public attacks. The argument by his hard critics is that Obasanjo does not stand for anything, he jumps into every bandwagon and plays to the gallery. And they asked, could this be the mark of a true leader? Obasanjo’s prescription of a third force does not sit well with many traditional politicians: they have insisted that it is too late to form a new party that could defeat the hardnosed incumbent Buhari-led government, advising Nigerians to engage other registered political parties in the coming general election and give firm conditions to the parties in that direction. But by the way, can Coalition of Nigerians under the platform of the National Intervention Movement (NIM), which recently unveiled its steering committee, mobilise Nigerians for the needed change within the present political space in the country? Olisa Agbakoba (SAN)-led NIM is seen by its members as a third force political reality to provide a credible alternative platform for ideal and acceptable political leadership and governance in Nigeria. It is branded as a ‘’purely owned political platform by the mass movement of the people of Nigeria’’, which does not have founding fathers, owners and money bags investors -- with every member Nigerian contributing token and widows might to fund and grow it. And also fundamentally run it for the purpose of access to ‘’equal and unbiased opportunities to contest or run for elective offices in Nigeria under ideal democratic rules, tenets and ideals.’’ However, the question is: how can NIM, a non-political party, but a mass movement of ‘’ideologically compatible and patriotic Nigerians’’, move against the frustrating governing order and operate as one force major entity under a political mission and agenda, and ensure the entrenchment of a new and ideal leadership order in Nigeria with the prevailing political space? From the look of things --- as the general election draws nearer, the thinking is that NIM could only work with other splinter political, civil society and professional groups of interest in Nigeria to negotiate for power and elective offices for its members; support them to contest and help to install acceptable governments in every part of Nigeria, by using any of the existing political party as platform. Political analysts are swelling opinions that for members of NIM to effectively engage the political space, within the shortest possible time, they need a political platform with solid and wide structures across all the political units, wards, local government councils and states. With NIM already becoming a house hold name: growing and expanding fast across the six geo political zones in Nigeria, it will with assurance, and strategically, contribute obviously to the emergence of a new political order in the 2019 elections, if its plans and actions are properly and effectively fashioned out.

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Keeping the Courts at Bay Guided by past experience, the Independent National Electoral Commission is seeking the help of the judiciary to ensure that the courts do not stand in the way of the 2019 general election, writes Tobi Soniyi

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n a democracy, an independent judiciary is a necessity. It guides against tyranny. It also ensures compliance with rule of law and the constitution. Daily, the judiciary is called upon to resolve disputes. In so doing, the judiciary ensures peaceful co-existence among different people in the society. Since the judiciary helps to maintain the rule of law, it is not expected to be an obstacle during the conduct of elections. However, in Nigeria, the judiciary has the unenviable record of being an obstacle to the conduct of free and fair election. While many have blamed politicians and lawyers for ‘misusing’ the courts to achieve their selfish aims by filing frivolous cases which often frustrate the electoral process, the judiciary should take the blame for allowing itself to be used for improper acts. When it comes to land matters, courts have no problems following precedents but once the matters have to do with elections, courts of coordinate jurisdiction will give different pronouncements on issues that are the same. It became so ridiculous that the same judge gave two different interpretations on similar issues. Another high court judge literally overruled a judgment of the court of appeal. There can be only one conclusion: corruption is behind the embarrassing manner in which some courts have been handling electoral matters. The collateral damage this has done to the image of the judiciary has been very devastating. Yes, the leadership of the judiciary can not absolve itself of blame from this mess. Yes, a few scapegoats have been punished but the poor handling of electoral cases by our courts remains a major threat to the electoral process today as it was since the return to democracy in 1999. Why? This is because the judiciary has refused to reinvent itself. It has refused to stay one step ahead of judges who want to cheat the system. Rather, the judiciary still thinks, acts and works as if it is in the 70s. So clever judges continue to beat the system. After all, the stakes are high. The politicians have so much money to throw around looking for judges willing to compromise themselves. The leadership of the judiciary has boxed itself into a corner by waiting for petitions to be written against a judge before it could act. As it is today, the judiciary does not have a means of stopping a judge from engaging in corruption. It only waits at the top end of the ladder for the corrupt act to be concluded. Many such acts go unpunished because nobody files a complaint. The judiciary waits for a petition to be filed against the judge before launching an investigation. In 2017, that simply can’t keep pace with modern technique of fighting corruption. With benefit of hindsight and in order not to be caught napping, the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu had to seek help from the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen to address the spate of conflicting judgments on electoral cases in the country. Yakubu said the commission was worried about the recurring decimal among courts of coordinate jurisdiction on the same subject-matter, especially in cases related to pre-election, post election and leadership crises in political parties. Apart from its enormous cost implications to the country, the INEC Chairman said the practice had also created a negative public perception. The INEC chair who led members of the commission on a courtesy visit to the CJN in Abuja on January 17th, 3018 said with the 2019 general election barely a year away and for which the timetable and schedule of activities had already been announced, it had become imperative to draw the CJN’s attention to the commission’s areas

INEC Chairman presents election related litigation issues to the CJN

of concern. He said: “For instance, in a recent leadership crisis in one political party, the commission was served with six conflicting judgments and orders from courts of coordinate jurisdiction within a short period of three months (May – July 2016). Similarly, the commission was confronted by conflicting pronouncements by the lower courts on matters already decided by the superior courts, including the Supreme Court. This is making the work of the commission very difficult and creating unnecessary negative public perception for INEC and, I must say, the judiciary as well. “My Lords, in the course of discharging our responsibilities, no public institution in Nigeria is subjected to more litigations than INEC. Over the last two years (2016 and 2017), the commission has been involved in 454 court cases, in addition to 680 cases determined by the election petition tribunals, arising from the outcomes of the 2015 general elections, making a total of 1,134 cases so far.” He expressed satisfaction with what he described as a “productive working relationship” between the judiciary and INEC, recalling that in 2011 when the commission was inundated with numerous and sometimes conflicting ex parte orders from courts of coordinate jurisdiction, it was the CJN’s intervention following an appeal from the commission, that averted a major threat to the electoral process. That

There can be only one conclusion: corruption is behind the embarrassing manner in which some courts have handled electoral matters.

intervention, he said, reduced the frequent use of such orders in election litigation in Nigeria. “It is in the spirit of this longstanding engagement with the judiciary that the commission once again seeks the intervention of Your Lordship in addressing the issue of conflicting judgments and other issues we consider pertinent in election litigation in Nigeria. We hope that by addressing these issues, the judiciary would further assist the commission and, indeed, the country in growing our democracy”, he added. Yakubu explained that as a demonstration of its commitment to the rule of law, the commission obeyed all court orders and carried out all consequential actions since the 2015 general election. He said INEC also conducted all the 80 court-ordered re-run elections and had issued Certificates of Return to 23 petitioners declared winners by appeal tribunals. He said: “We have similarly obeyed all court orders on the registration of political parties, leadership disputes in political parties, nomination of candidates and a host of other judgments.” He also assured the CJN that the commission “shall continue to obey court orders, while taking full cognizance of judicial hierarchy at all times.” He reiterated the responsibility shared by the judiciary and INEC for ensuring certainty and credibility of both the process and outcome of elections “and the peace and progress of our country as a stable democracy based on the will of the people and anchored on the rule of law.” Yakubu also commended the leadership of the judiciary for standing firmly on the side of justice in several landmark judgments. But the challenge, he observed, was how to ensure consistent application of such decisiveness by courts at all levels. Responding, Justice Onnoghen agreed that both the judiciary and INEC were the foundation of democracy in Nigeria. He

said conflicting court orders were bound to arise as a result of the multiple court cases filed by politicians at different courts, which according to him, were bound to have different facts and different interpretations by the different presiding judges. He said: “the beauty of the system is that it has a way of correcting itself. That is why you have the appellate system to take care of errors and mistakes committed in the course of court proceedings and in respect of substantive law”. The CJN said the judiciary was aware of the enormous responsibility before it even as he gave an assurance that it would remain committed towards deepening democracy and improving the system. He however urged the commission to educate Nigerians on their roles as well as INEC’s. Yakubu presented the commission’s compilation of some of the issues critical to election litigation in Nigeria and its recommendations to the CJN. The commission’s team included National Commissioners Adekunle Ogunmola, Solomon Soyebi, Baba Shettima Arfo, Amina Zakari, Anthonia Okoosi-Simbine, May AgbamucheMbu, Okechikwu Ibeanu and Mohammed Haruna. Others are the Chief Technical Adviser to the Chairman, Prof Bolade Eyinla, Special Adviser to the Chairman, Prof. Mohammed Kuna, Secretary to the commission, Mrs. Chinwe Ogakwu and some directors. To stop the judicial rascality that has come to characterise the Nigerian judiciary with respect to electoral and political cases, the leadership of the judiciary will have to do more than wait for appellate courts to correct the mistakes of lower courts. Some of these mistakes are deliberate and cause the judiciary avoidable embarrassment. Sometimes, the appellate courts are part of the problems. At other times, the deed is already done and there is nothing the Supreme Court can do to salvage the situation.

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

The Classroom Revival Regarded as one of the most educationally disadvantaged states in the country, reforms are sweeping through Katsina schools, writes Ibrahim Shuaib

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ccording to a report by the Education Data, Research and Evaluation in Nigeria (EDOREN), a consortium supported by the UK Government, schools in Katsina face a particularly challenging environment due to limited availability of infrastructure and materials and “the social and political context in which teachers operate.� The situation, over the years, has resulted to students sitting on the floor to write examinations and cramped boarding facilities. But a new dawn is beginning to emerge with the emergence of Aminu Masari as governor of the state. The governor, speaking to THISDAY recently, noted that when his administration came on board, they discovered that school dormitories that were designed for 72 pupils were accommodating 150 pupils. “I want you to imagine grown up girls between 15 to 18 cramped, two of them on one bed,� he said. "It was the same for the boys. That was what we met on the ground. We had a deficiency of 1, 376 classes. “Some of the schools you cannot take your child into them. Why? Because the children of the people who are supposed to be looking after most of these institutions are attending private schools, either in far away Kaduna or even out of the country.� He continued: “We met a situation where even the children of headmasters were attending private schools. This is what we met on ground.� One of the first steps the Katsina Government took was to renovate and upgrade virtually all its boarding schools, both for boys and girls. “In terms of standard boarding school in this country, we are proud to say, we have provided the basic requirement and we are still doing more to decongest the classes and to decongest the dormitories,� Masari told THISDAY.

Newly built classrooms at Government Girls Science Secondary School, Ajiwa in Batagarawa LGA

Focusing on girls

Masari is also taking girl-child education seriously. When THISDAY visited Government Girls Science Secondary School, Ajiwa in Batagarawa LGA, thousands of girls were camped for a two week intensive learning programme. Their segregation from boys, according to Masari, is necessary due to the culture and religion of most Katsina communities. “We are not discriminating between the boys and the girls but we are more sensitive to the girls because of their nature and because we want to promote girl-child education,� he said. “You know, the participation of women here is very low, so we are having deliberate policies

You know before this administration came on board, population per class especially in Katsina College was 180 pupils per class but now, with the additional structures we put in place here, the capacity now is 80 pupils per class. The governor wants to at least decongest the schools because when he came in students were sitting on the oor to take their lessons and write their exams

Newly built classrooms at Katsina College

the structures were in bad shape, the floors, the roofs and windows were all broken, despite being a female boarding school. When Masari came in, he visited the school himself and directed a complete rehabilitation of the school structures, from academic to hostel area. After the renovation, the governor found out that there was a need for additional facilities in the school especially as it relates to the hostels, where students were being choked. So he gave directives for additional construction of hostel blocks, kitchen, toilets and an additional classroom.

Leading by example

Masari...education-friendly governor

in order to bring up the girls. Demographically in Katsina, the women are more in number than the boys.� The secondary school in Ajiwa is a prime example of Masari’s devotion to girl-child

education. The school was constructed 30 years ago without boarding facilities, but it was later converted to a boarding school. Since it was constructed 30 years ago there had been no renovation on the school structures,

Another of the Masari administration's move to boost education in the state was to enact a policy that compels state public officials to send their children to schools within the state. According to Masari, the policy has, so far, been successful. "So far, it’s very successful because everybody now has to make sure that the public schools his children are attending is given attention so that other children also benefit,� he said. “When we were growing up, we attended school with children of the Emirs, district heads and the few ministers we had in Northern Nigeria; they were all in public schools and if you were better than them at that time you are better. So nobody discriminates against you whether the son of a farmer or a local trader. I think the policy is working.� Family Support Nursery, Primary and Secondary School, which was conceived during the military regime, now educate some of Masari’s children and that of several commissioners and

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Before this government came in, the last administration was paying N800m for WAEC and NECO but only10 per cent get ďŹ ve credit and above including Mathematics and English. But with the renovation of schools and equipping of the schools this year (2017) alone 53 per cent of the students got ďŹ ve credits and above, which is an improvement

Computer hall at the Family Support Programme Secondary School, Katsina

permanent secretaries in the state. This development has led to the renovation and expansion of the school. Now, it has two computer centres equipped with 50 computers each and an e-library. A one storey L-shaped building housing eight classrooms has also been built. Other facilities added to the school include an NYSC lodge, a 300 capacity examination hall and three laboratories.

Bearing fruits

Masari’s efforts in education appear to be bearing fruits. Chaperoned by the Director of Works, Ministry of Education, Nakano Lawal, THISDAY visited several schools which have either been renovated or built from scratch by the Masari administration. One of such projects is the Katsina College which was renovated and upgraded at the cost of N312m. Six blocks of six classrooms were fixed with furniture and the entire school was given a facelift. In total, 36 classrooms were added to the college’s previous 54 classrooms. “You know before this administration came on board, population per class especially in Katsina College was 180 pupils per class but now, with the additional structures we put in place here, the capacity now is 80 pupils per class,� Lawal told THISDAY. “The governor wants to at least decongest the schools because when he came in students were sitting on the floor to take their lessons and write their exams. How can you sit on the floor to write your exam? You cannot feel comfortable. How can you learn? So the essence is to expand the schools to make teaching and learning more conducive for students.� Lawal noted that the government has, between 2016 to2017, spent N2.9b on the renovation and expansion of schools in the state, especially girls’ boarding schools. “We have Government Girls Arabic Secondary School, Kabumu, where we spent N129m in renovation and expansion,� he said. “We have Government Science Girls’ Secondary School, Ajiwa where over N200m was spent. We have Government Boys’ Science Secondary School, Patigarawa where over N200m was spent, and so many others.� These renovations and expansions have resulted in better academic performances from students in the state. “Before this government came in the last administration was paying N800m for WAEC and NECO but only 10 per cent get five credit and above including Mathematics and English,� Lawal said. “But with the renovation of schools and equipping of the schools this year (2017) alone 53 per cent of the students got five credits and above, which is an improvement.�

Newly built students' hostel at Government Girls Science Secondary School, Ajiwa in Batagarawa LGA

Old kitchen at Government Girls Science Secondary School, Ajiwa in Batagarawa LGA

Solving the teacher problem One of the major problems of education in Katsina is the dearth of teachers in the classroom. When the Masari administration came onboard, it said it met a deficit of 15,000 instructors. In this regard, the government saw a need to increase teacher recruitment. In 2016, the governor employed 1,900 teachers for both primary and secondary schools who have since been posted to classrooms. In January 2018, during the swearing-in of a new Commissioner for Education, Masari pledged to recruit no fewer than 5,000 teachers into the state-owned primary schools to enhance the

Newly built Kitchen at Government Girls Science Secondary School, Ajiwa in Batagarawa LGA

manpower in the education sector. Masari said that the teachers would be recruited within the first quarter of 2018.

He revealed that teachers’ welfare would also be enhanced to boost their morale for effective service delivery.

“Teachers will be repositioned to provide quality service for the development of education,� Masari said.

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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: Lead Partner, Tax / Regulatory services, Deloitte, Mr. Yomi Olugbenro;Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler;West Africa Chief Executive OďŹƒcer, Deloitte, Mr. Fatai Folarin;Director General, Budget OďŹƒce of the Federation, Mr. Ben Akabueze;and Executive Secretary/CEO,Nigerian Investment Promotion Commission, Yewande Sadiku, at the seminar on Nigeria economic outlook 2018 organised by Deloitte in Lagos... recently etop ukutt

MD/CEO Doxa Digital & Conference Management Bureau, Nig,Mrs. Dayo Benjamins-LANIYI(left) and Vice President elect of Liberia, Mrs Jewel Howard-Taylor at a private reception in honour of the Liberian Vice president in Liberia....recently

L-R; Business Manager, Netcore Solutions(Nigeria),:Siddhesh Sawant; Group Head, e-Commerce & Digital Transformation, AXA Mansard Insurance Plc, Bayo Adesanya; CEO, International Business, Netcore Solutions, Abithab Bhaskar; Group Head, Strategy, Planning & Marketing, AXA Mansard Insurance Plc, Kola Oni; Chief Marketing OďŹƒcer, AXON Analytics, Chukwudi Nwokike at the Netcore Solutions Digital Marketing Interaction in Lagos....recently

L-R: Head teacher, St. John’s Anglican Primary School, Aroloya, Lagos, Mr. Adeleye Adetola; Head of Administration, Lagos Island Local Government, Mr. Babatunde Disu; Executive Chairman, Hon. Adetoyese Olusi and his Vice, Hon. Wadood Bashorun, during the unveiling of “Island of Hope� project in Lagos....recently

L-R: Director, Mines Inspectorate Federal Ministry of Mines and Steel Development, karnap Wuyep; NSCDC Commandant in Charge of Oil and Gas Pipelines, Solomon Nyamu; Ogun State Commissioner for Commerce and Industry, Bimbo Ashiru and External Relations Manager, West African Gas Pipeline Company (WAPCo), Mark Mensah at the Biennial Sand Mining Stakeholders’ Forum in Abeokuta...recently

L-R: HOD, Insurance and Financial Management, Niger Delta University (NDU), Peter Ayunku;, Chairman, ASUU, NDU Chapter, Dr Stanley Ogun; acting Registrar, NDU, Mrs Eua Berepubo; Managing Director/CEO, Linkage Assurance Plc, Dr Pius Apere; acting Vice Chancellor, NDU, Professor Samuel Edoumiekumo and , Deputy Vice Chancellor,Professor Donbebe Wankasi during a Career Talk by Linkage Assurance Plc at the University Campus in Bayelsa State...recently

L-R: Assistant General Manager, (New Business Development PPP), Nigerian Port Authority, Nana Yakubu; Acting Director General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwa; Legal Counsel/ Relationship Director, Lekki Port LFTZ Enterprise (LPLE) Adesuwa Ladoja; and General Manger, Projects, LPLE, Steven Heukelom, during the visit of Infrastructure Concession Regulatory Commission Management to Lekki Deep Sea Port in Lagos...recently sunday adigun

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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO CALL

4.50 % 5.33 %

1-MONTH 3-MONTH

14.67 % 15.67% 16.42%

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

J A N U A R Y 2 6 , 2 0 1 8 S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

S & P INDEX 1/4 TO DATE

341.15 % -0.03 % 3.54%

YEAR TO DATE

3.54 % 3.54%

EXCHANGE RATE N305.65/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes M&A Transactions Value Hits $32.4bn

BUSINESS MEETING

L-R: Chief Financial OďŹƒcer, FBN Holdings Plc, Wale Ariyibi; Legal Adviser to the Nigerian-South African Chamber of Commerce (NSACC), Giwa Osagie-Bello; Group Chairman, FBNHoldings, Dr. Oba Otudeko, CFR; and MD/CEO, Protection Plus Services Ltd, Ubong King at the NSACC January Breakfast Meeting in Lagos ‌ recently

Penny Stocks Investors Record 100% Growth in One Month GoddyEgene Buying of penny stocks and having high confidence and strong faith that the stock market will continue to rally has made to some investors to reap significant capital gains in the first month of 2018. The equities market bounced back from a three-year decline to record a growth of 43.2 per cent last year. The market closed 2017 among the top five globally, while some stocks recorded gains of over 100 per cent with Dangote Sugar Refinery Plc gaining 227 per cent. Although profit taking was envisaged in the New Year, some

CAPITAL MARKET investors opted for stocks trading below and a little above 100 kobo. THISDAY checks showed those stocks have given investors significant returns within the first one month. For instance, investors who bought Skye Bank Plc at 50 kobo have realised capital growth of 180 per cent as at last Monday. Similarly, Unity Bank Plc that sold for 53 kobo has jumped by 149 per cent as at Monday. Also, Wema Bank Plc that was bought at 52 kobo has appreciated by 134.6 per cent. Some other stocks that traded a

little over 100 kobo have equally appreciated significantly. FCMB Group Plc recorded a growth of 118 per cent, while Diamond Bank Plc rose by 93.3 per cent. Cement Company of Northern Nigeria Plc has fetched investors 89 per cent, just as Caverton Offshore Support Group Plc has appreciated by 86 per cent. Other stocks that have put smiles on the faces of investors in terms of capital growth are: Sterling Bank Plc (85.1per cent); FBN Holdings Plc (59 per cent); Fidelity Bank Plc (57.7 per cent); Transcorp Plc (54.1 per cent); and Eterna Plc (45 per cent). Some market operators and

analysts have said despite recording significant growth in 2017, the market would sustain the rally this year. Analysts at Vetiva Research projected a full year return of between 15 per cent and 20 per cent. According to the research analysts from the investment banking firm, “Despite the 2017 equity market rally driven by a partial liberalisation of the country’s exchange rate regime, the Nigerian Stock Exchange remains relatively undervalued.� They have therefore projected further gains for the equities Continued on page 24

Expert Tasks FG on Fiscal Sustainability Obinna Chima A renowned accountant and financial market expert, Mr. Bode Agusto has stressed that fiscal sustainability remains a challenge for the federal government. According to the founding chief executive of Agusto & Co., a situation where a greater fraction of the government’s revenue is spent on payment of wages and salaries is not sustainable. This, he noted, impacts negatively on the level of finance available for the government to invest in infrastructure. Agusto made this remark in a presentation at a forum on Nigeria 2018 outlook organised by the Ecobank Group in Lagos recently. He explained: “All the monies that we earn, we use it to pay salaries and wages of govern-

ECONOMY

ment workers, with little or no investments in infrastructure. That is not sustainable! Fiscal sustainability is a big challenge for Nigeria. “We know how to budget N2.6 trillion, but we don’t know how fund it. But it is the true level of infrastructure spending that will impact the economy and not the budgeted amount. “To budget N2 trillion for capital expenditure in an economy of N100 trillion, that is two per cent infrastructure investment. Ghana spends about five per cent annually on capital expenditure. “Ivory Coast spends slightly above five per cent annually on capital expenditure, while Kenya spends slightly above seven per cent. So, the level of infrastructure spending in other key countries in Africa

is much higher. “This government came in on the promise that it is going to be big on infrastructure. Have they done that? Not really.� He noted that obligatory spending of the federal government was still more than 100 per cent of revenues, “therefore there is no free cash flow for investment in infrastructure.� “The fact that every kobo of infrastructure spending is financed by debt constrains ability to fully fund budgeted amounts. “Actual borrowing in 2018 may be higher than the planned figure of N1.8 trillion and the bulk of the additional amount coming in local currency.� He expressed displeasure over the perennial delay in passage of the annual budget. According to the financial market expert, there is need for urgent fundamental reform

in the country, such that there would be enough resources to utilise for capital expenditure. He also faulted the argument that the level of debt accumulated by the country was low, just as he warned policymakers to be watchful of the rising debt. “People say Nigeria is not over-leveraged and that our debt-to GDP ratio is less than 20 per cent. But the question is do we use GDP to repay debt? Nigeria is over leveraged,� he added. However, Agusto bemoaned the fact that a lot of Nigerians don’t pay taxes. In his economic outlook, he predicted that the average price of the benchmark Bonny light crude for 2018 was likely to be higher than that of 2017, driven largely by OPEC production Continued on page 24

Thomson Reuters, one of the world’s leading source of intelligent information for businesses and professionals, today released the 2017investmentbankinganalysisfortheSub-SaharanAfricaregion. AccordingtoestimatesfromThomsonReuters,Sub-SaharanAfrica investment banking fees reached US$527.9 million during 2017, 0.1 per cent less than the value recorded during 2016. Fees from completedM&AtransactionstotalledUS$94.5million,a19percent down year-on-year, while equity capital markets underwriting fees fell 16 per cent to US$144.8 million. Syndicated lending fees also declined, falling ďŹ ve per cent from this time last year to US$180.9 million. Fees from debt capital markets underwriting saw an increase from US$47.9 million during 2016 to US$107.7 million during 2017 – the highest value since our records began in 2000. Debt capital markets’ underwriting fees accounted for 20 per cent of the overall Sub-Saharan Africa investment banking fee pool, the highest ďŹ rst half share since 2012. Both completed M&A and equity capitalmarketsgenerated18percentand27percentofthetotalfee poolrespectively,whilesyndicatedlendingfeesaccountedfor34per cent Citi earned the most investment banking fees in Sub-Saharan Africa during 2017, with a total of US$43.9 million or an 8.3% share ofthetotalfeepool.InvestectoppedthecompletedM&Afeeswhile Java Capital led the ECM underwriting fee ranking and Citi the DCM underwriting fee ranking with a 16.6% share. Standard Chartered ranked ďŹ rst for syndicated loans fees.

Ghana May Hedge Oil Imports

Ghana will likely hedge its oil imports under a new risk management strategy to keep ďŹ scal consolidation on track as global crude prices recover, a ďŹ nance ministry source told Reuters on Monday. Brent crude futures hit $71 a barrel last week before easing to $69.88 on Monday, but prices were still on track for their strongest start to the year in ďŹ ve years.The West African country has largely been a net crude importer, except last year when oil exports exceeded imports by around $990 million, according to central bank data. While future price recovery was partially good news for Ghana’s oil exports, the government fears it could also derail price stability and spike fuel-related expenditures.The major commodity exporter operates a deregulated consumer fuel pricing mechanism after the governmentreluctantlyscrappedsubsidiesin2015underadealwith the International Monetary Fund (IMF).“It’s a challenge and we are workingonacomprehensiveoilriskmanagementstrategytoensure we remain on track ... Buying some call options is most likely,â€? the source said, suggesting plans to hedge using futures contracts.The holder of a call option has the discretion to assume a long position in crude futures at the strike price. Contracts are available for trading at derivative markets such as the New York Mercantile Exchange. After cumulatively easing its benchmark policy rate by 550 basis pointslastyear,thecentralbanklastweekheldtherateat20percent, citing emerging ination pressures as global prices recover.

Global Health Fellowship launched

The Centre on Global Health Security at Chatham House, the Global Health Centre at the Graduate Institute and the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA)hasannounced theestablishmentofthe2018-2019African Global Health Leaders Fellowship. Sub-Saharan African countries have undergone unprecedented transformation and change in the last decade, including constant economic growth, a growing middle class, a healthier, more productive and increasingly more educated andskilledworkforceandincreasedpoliticalstability.Althoughmany challenges remain, recognition must be given to the huge advances thathavebeenmade.Tomarktheoccasion,thethreesigningpartners invited emerging leaders and fellows of the West African Global Health Leaders Fellowship the predecessor of the new fellowship, to discuss the achievements and challenges across the continent, including the most promising approaches for improving healthcare systems and the realisation of Universal Health Coverage (UHC). The fellowship supports the development of the next generation of public health leaders in Africa.

“The pathway to ensuring inclusive growth in today’s world is through sustainable development powered by both the public and private sector�

Group Chief Executive, Oando

Wale Tinubu

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PENNY STOCKS INVESTORS RECORD 100% GROWTH IN ONE MONTH market in 2018, with an estimated full year return of between 15 per cent and 20 per cent. Also, analysts at Meristem Securities Limited said while they are more cautious about equity market valuations inching beyond its fundamental value threshold, they assured that, barring a dysfunctional foreign exchange market, equities are possibly set for appropriately timed entry and exit opportunities in 2018. The Chief Executive Officer of NSE, Mr. Oscar Onyema has said the outlook for the Nigerian capital market in 2018 is encouraging. He said although to some extent, political activities and currency movements will have an effect on the market, but they expect that such impacts will be short lived and the performance of the underlying business activities will ultimately determine market performance. EXPERT TASKS FG ON FISCAL SUSTAINABILITY cuts, stronger growth and political tensions in the Middle East. According to him, the ability of Nigeria to grow its oil export revenue would still becontingent on its ability to produce and evacuate crude oil from the Niger-Delta. He anticipated that the Central Bank of Nigeria (CBN) would continue its demand management strategy for imports this year. “If Nigeria can produce and evacuate crude, she will build reserves but some of the reserves will be used to intervene in the NAFEX market to keep exchange rates at near current levels. “The focus of monetary policy will remain exchange rate stability. Cash reserve requirement will therefore remain high although there might be a slight reduction in the rate. “Inflation is likely to remain double digit. Federal government’sborrowing requirement will remain large and with double digit inflation, the average yield on FGN 90-day treasury bills will be in the region of 12 per cent,� he added.

Haastrup: Poor Infrastructure Hindering Ease of Doing Business in Nigeria The Chairman, Seaport Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup has said that Nigeria will continue to rank poorly on the global Ease of Doing Business Index until critical infrastructural deficits are addressed by government. Speaking in Lagos on Tuesday at the 2018 Multimodal West Africa International Transport, Logistics and Supply Chain Management Exhibition organised by the Chartered Institute of Logistics of Transport (CILT) Nigeria and Clarion Events, Haastrup said most of the sub-indices used by the World Bank to measure the Ease of Doing Business in 190 countries of the world are still begging for government’s attention in the country. While commending the present government for its determination to improve on the country’s Ease of Doing Business Index, she said the infrastructural gap bedeviling the country can be addressed within a medium-term framework if government so desires. The STOAN Chairman said: “The Ease of Doing Business ranking of a country is based on 10 sub-indices which include starting a business; dealing with construction permits; getting electricity; registering property; and getting credit. “Others are protecting investors; paying taxes; trading across borders; enforcing contracts; and resolving insolvency. “A cursory appraisal of

Haastrup

Nigeria’s operating environment reveals a yawning gap in some of the sub-indces. “On getting electricity and the

cost of electricity; we are just not there at all. I am sure every Nigerian can talk extensively on this. It should concern any well-meaning Nigerian that we still face this huge problem almost two decades into the 21st Century. In Nigeria today, the cost of generating electricity through generators is killing businesses. The generators we use are also sources of major environmental and noise pollution. “On getting credit; this is still a major challenge especially

for small businesses; and for those businesses that are able to access credits, the cost of borrowing is high. “On paying taxes; I think many businesses in Nigeria are still suffering from multiple taxes. “On trading across borders; our cargo clearing processes are still primitive. Customs checks are duplicated, manual and too laborious. There are also too many government agencies involved in cargo examination at the port and land border

posts. All of these slow down trade and add to the cost of doing business. “On enforcing contracts; we must note that no investor will bring their money to the table until we begin to respect the sanctity of contracts.� Haastrup noted that Nigeria is a country with enormous human and material resources with a youthful and teeming population of over 180 million, “which is a huge market beckoning on discerning investors�.

LUCKY WINNER

L-R: Assistant Marketing Manager, ECOWAS Region, Western Union, Ebere Nwaolikpe; Head, Money Transfer, FirstBank, Patricia ChrisOmon; FirstBank Customer and Winner of Western Union Mega Promo Grand Prize, Ololade Odueke and Senior Country Manager, ECOWAS Region, Western Union, Olumide Olorunsola, during the presentation of a Hyundai Saloon Car to Mrs. Odueke ‌recently

‘Profession Should Play Greater Role in Attracting Diverse Talents’ Obinna Chima The accountancy profession should identify more proactive approaches to continue to improve social mobility, according to a new report by the Association of Chartered Certified Accountants (ACCA). In the report titled: “Purpose and the profession,� a global survey of 13,635 members and students, ACCA found that social mobility was transforming the potential talent pool for professional accountants. The survey also revealed

that 32 per cent of Nigerian respondents came from backgrounds where neither parent or guardian had gone to university. The global average is 52 per cent Yet the report also noted that the profession needs to take a more pro-active, leadershipbased approach to ensure it can continue to attract and support a diverse global talent-pool through their careers. Commenting on the survey, the Head of ACCA Nigeria, Thomas Isibor said: “This report highlights two great areas for optimism around

social mobility. The first is that improving social and economic development continues to provide opportunity for an increasingly diverse talent-pool, with the demonstrable benefits that brings. “The second is that accountancy remains an aspirational and accessible route to social mobility for many in developed and developing nations. “Yet the report also highlights that the decision to pursue an accountancy career is too dependent on individuals’ and parents’ drive. In Nigeria, only

9% of those surveyed were influenced by a teacher or careers advisor (compared to a global average of 13%).� Continuing, Isibor pointed out that the perception that ‘this is not for me’ is a dangerous stigma to be attached to a profession, saying that many still see the profession as middle aged and male. “While this is no longer true, it is likely that only those with prior knowledge or social capital will appreciate the diversity of the profession and flexibility of access. Put simply, the profession

as a whole must work harder to engage young people with the opportunities and rewards it offers, and instil confidence that it welcomes a variety of backgrounds and academic levels,� the ACCA Nigeria boss added. However, the report recommended among other things, the improving awareness of the profession as a career choice at younger levels; removing barriers through introducing flexible learning routes and seeking to remove bias from the recruitment process.

FG Pledges Availability of Adequate Cooking Gas Senator Iroegbu in Abuja 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)

To reduce to the barest minimum, attendant health hazards associated with the use of firewood and kerosene stove for household and commercial, the federal government will boost the implementation of her gas policy by making liquefied petroleum gas, otherwise known as cooking gas abundantly available to everyone irrespective of socio-economic status. This is coming on the heels of a recent report by the World Health Organisation (WHO) that “over 98,000 Nigerian women die annually from the use of firewood. “If a woman cooks breakfast, cooks lunch,

cooks dinner, it is equivalent to smoking between three and 20 packets of cigarettes a day�, said the body. The Special Assistant to the Minister of State for Petroleum on Refineries, Downstream and Infrastructures, Brenda Atanga said that government is desirous of making gas available to everybody; the poor and the rich, because it is the cheapest and safest. “Gas is for everyone, it is a matter of perception about the cost of gas,� she said.Atanga who spoke with journalists at the ‘Upgrade to Gas’ Stakeholders Meeting convened by Africare Nigeria, said the policy plan of the government is to break down gas retail into segments

to make sure that people can access gas at their own level. We want a situation where you can buy 200 or 300 naira worth of gas if that is what you can afford. What we are advocating is the ‘pay as you go’ system of gas purchase as we have in the telecommunications sector where everyone irrespective of age, sex or level of education uses the GSM phone. This will ensure that everyone can afford cooking with gas.� However, she called for a stricter regulation of gas retailing business, stressing the need for players in gas marketing to comply with regulations laid down by the Department of Petroleum Regulation (DPR)

for a safer environment and to curtail gas explosion and fire disasters. “Government regulation stipulates where gas can be sold and the last man in the chain of sale for gas is the gas refilling plant, which must be certified by the DPR, not gas cylinder retail cubicle on the roadside. It is important that NNPC sends the information to the general public on authorised places they can buy gas. Gas that is sold in refilling plant has been tested by DPR and certified as meeting the Nigerian standard. “But it is hard to say where the roadside retailers are coming from, they sell LPG the way people sell tyres on the road

and that is totally unacceptable.� She said. Aliyu Mohammed of the DPR, Abuja Office said that government wants to increase the use of gas because of the enormous gas potential that is available in the country and that utilisation of gas will increase revenue and create more employment opportunities. He said the use of gas is far below average in Africa but hoped that with the awareness initiative of organisations like Africare, usage of gas will be improved and attendant inconveniences of using charcoal or firewood bring such as, inhaling of carbonmonoxide and contamination of the environment will be drastically reduced.

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BUSINESSWORLD

NEWS

‘Maritime is Sure Source of Growing Nigerian Economy’ Eromosele Abiodun The Chairman of the Association of African Maritime Administration, (AAMA) Dr. Dakuku Peterside has stated that the maritime sector is crucial to the growth and development of the African economy. Peterside stated this when the Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Ambassador Alain Michel Luvambano paid him a courtesy visit in Lagos. He further added that regional co-operation is required in order to achieve all the goals of the Lome Charter and the African Integrated Maritime (AIM) Strategy, geared towards repositioning the sector in Africa,

in order to allow it compete favourably with its counterparts in the other continents. According to him, “Maritime is a sure source of growing our economy and from the highest point of government we are talking about blue economy; it is also our goal to realise the dream of our leaders aimed at the development of the maritime sector in Africa and collaboration is the key to realising it.� Peterside, who is also the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) assured the Secretary General of MOWCA that AAMA on its part would continue to champion the course of revitalising the African maritime sector through various forms of collaboration and will

support MOWCA since both bodies have similar objectives and shared vision of realising a prosperous Africa through its maritime resources. Speaking earlier, the Secretary General of MOWCA, who was accompanied by the Technical Director of the organisation, Mariko Mamadou, expressed gratitude to the AAMA Chair for the support the organisation has been receiving from the association. He further stated that MOWCA, as an organisation, is seeking collaboration with AAMA, stating that both bodies have similar mandates of contributing to the economic growth and the development of the maritime administrations on the African space.

NPA Promises Enabling Environment for Businesses Eromosele Abiodun The Managing Director of the Nigerian Ports Authority (NPA), )BEJ[B #BMB 6TNBO IBT BTTVSFE stakeholders and the general public that the federal government will continue to provide laudable enabling environment for the Oil and Gas activities to thrive at the nation’s Ports. She promised that the NPA, under her management, will continue to support the growth of trade relations by collaborative efforts with clients who aspire to land their cargoes EJSFDUMZ BU UIF 'SFF 5SBEF ;POFT '5; She stated this when she PGà DJBMMZ SFDFJWFE UIF &HJOB '140 BU -"%0- '5; JO -BHPT after a 90-day voyage from the Samsung Shipyard Heavy Industry Goeje in the Republic of South Korea.

According to the MD, the realisation of the project showcases the preparedness of the authority at taking on greater challenges in the new vista going by the availability of top graded equipment in the areas of tug boats, safe navigable channels and the availability of highly skilled personnel amidst safe and secured environment for the ease of doing business in the nation’s territorial waters. The occasion culminated in the celebration of the federal government’s goodwill arising from her liberalisation of the oil and gas sector. She reiterated the commitment of the federal government in the area of promoting local content policy in the country in view of the numerous benefits accruable and most especially taking control of the oil and gas hub in Nigeria and Sub-Saharan

Africa. She enthused that the event was an attestation of the readiness and improved operational efficiency of the Authority in handling vessels of any size within the Nigerian territorial waters. She added the NPA management would in the coming months improve in the area of capacity building and infrastructural development with a view to providing an enabling environment for an improved customer’s efficiency in all the ports across the nation. &BSMJFS JO IJT XFMDPNF BEdress, the Managing Director Total Upstream Nigeria Limited, Mr. Nicholas Teraz affirmed UIBU UIF BSSJWBM PG &HJOB XBT an indication of human and capacity potential in the country with the vessel weighing over 200,000 tonnes.

Firm Unveils Sugar Free 3-in-1 Coffee Mix Chinazor Megbolu In a bid to cater for consumers desiring a healthier lifestyle, an indigenous firm, Andersons Pharmaceutical Limited has unveiled to the Nigerian market a first of its kind sugar free coffee ‘Topicana Slim 3-in-1 instant coffee.’ The coffee has three variants: Cappucinno, .PDIB 'SBQQF[ BOE $BGGF -BUUF It is sugar free and sweetened with stevia as against natural sugar. Stevia contains natural ingredient which make consumers of coffee less vulnerable to perennial diseases such as diabetics. The Chairman and Managing Director of Andersons Pharmaceutical Limited, Mr. #SJHIU 6DIF &EPN TBJE DPGGFF consumption in the country is growing and for people to take a much healthier one, they have to introduce Tropicana Slim 4VHBS 'SFF JO $PGGFF .JY He explained the brain behind it is that other coffees in the market are produced with normal sugar sweetener hence launching its own with natural sweetener stevia.

“Through innovation we XFSF BCMF UP CSJOH JO 4VHBS 'SFF 3-in-1 Coffee Mix that can be consumed by all, “he said. &EPN QPJOUFE PVU UIF OFX product which is of three variants, Cappuccino, Mocha 'SBQQF[ BOE $BGGFF -BUUF JT healthy for everyone above six years including pregnant and breast feeding mothers. He also noted that as consumers engage with their busy schedule and fixed work times, coffee has become important towards helping to maintain alertness. “Coffee consumption is growing in Nigeria as the population urbanises and as the working environment becomes more formal and challenging, i&EPN TBJE "MTP TQFBLJOH UIF General Manager, Andersons Pharmaceutical Limited, Mrs. Omamo Ogene-Okoro noted that Tropicana Slim sugar free 3-in1 coffee has come to revolutionise how coffee is consumed in Nigeria by not only making it more appealing in taste and aroma but also offering more healthy choice. Ogene-Okoro said that the Tropicana Slim

4VHBS 'SFF JO DPGGFF BMTP offers sweet sensation of smooth twirl of creamy froth coffee mix around the lips without worry of any side effects. “Its superb taste will boosts your mood and no worry about weight addition or increase in blood sugar since it doesn’t contain sugar. It is affordable, without saccharin, cyclamate or preservative� she said. While enjoining coffee lovers to feel free and enjoy Tropicana Slim 3-in-1 coffee, she reiterated that the introduction of the brand into the Nigerian market was borne out of the desire to stem the allergy associated with sugar tasted coffee since this is the source of most terminal ailments. Meanwhile, the special guest and Dietitian, Lagos State University Teaching Hospital (LASUTH), Ms. Layo Omodara in her speech posited that the introduction of 3-in-1 Coffee Mix is a welcome development for Nigerians, saying it will help to repair any damages in the body and also boost mental alertness.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Finding Your Niche Market Many of us struggle to find our niche. This can be in determining what our careers should be or what type of business we should do. I know people who have tried everything. The owner of a popular school in Lagos, name withheld explored many businesses before she finally settled on a school. At first, she sold women’s clothes, the usual buying and selling that many women go into. She then set up a restaurant. I am sure her thinking was - women will always buy clothes so it will be lucrative and for the restaurant, people will always eat. #VU GPS IFS UIFTF UXP CVTJOFTTFT XFSF OPU successful. She then started a crèche in her house. This crèche morphed into a nursery school, a primary school and a secondary school. She has since been able to replicate this school in different locations in Lagos. I heard a few days ago, that she has opened a branch in another part of Nigeria. She clearly found her niche, in making money and doing what comes naturally to her. Many of us go into businesses we do not have a natural affinity for and start to struggle. This lady friend of mine above, could not make any headway buying and selling while many friends of mine can sell snow to an eskimo, while keeping down a demanding full time job. It is important to note that if the next person is doing it, it does not mean we can do it too! Many businessmen and women have discovered that it is not easy to just copy the next man but to carefully consider your niche. There is no doubt that one of the clearest ways to success is finding a niche market and establishing yourself as a dominant player. This is because no matter how many businesses there are, there are always going to be larger segments of the population whose needs for particular products and/or services are going unmet, leaving room for us to dominate the markets we decide on.

and drive to execute it as it is one of my life’s ambitions.

How can you ďŹ nd your niche market: r 'JSTU BOE GPSFNPTU JEFOUJGZ ZPVS JOUFSFTUT BOE QBTTJPO #VTJOFTT DBO CF WFSZ DIBMMFOHJOH there is a higher likelihood of you quitting, if you are not doing something you enjoy doing. I am not saying that it should be a perfect fit. The thing is, if you are not doing something you enjoy doing, you are not likely to succeed in the long run. It should be something you have a passion for, not because everybody is doing it and people are saying this is the “business for the seasonâ€?. If you are doing something you do not have a passion for, you may not have the ESJWF UP NBLF JU TVDDFFE 'PS FYBNQMF * NBZ not succeed if I set up a school for young children. No matter how profitable it will be, it is unlikely to work for me because I prefer to teach adults and not children. If it is a vocational school to empower women and teach sales and marketing, I will be passionate about and it and have the passion

r )BWF B XFMM EFĂ OFE JOUFSOFU NBSLFUJOH strategy in determining your niche market. Your website must be optimized to ensure that your niche market can easily find you. Develop your site in a way that the solutions and products you offer are specific to the problems in your niche market. Use social media sites to advertise and boost your offerings by specifying the advertising criteria that suits your market. It is important to find and determine your niche because it gives you competitive advantage over the next business especially if you have done your homework well. We should try not to be in the same market and if we are, ours should have a twist. The fact that someone else is in a particular business does not mean it will work for us. We need to discover our passion and find the “sweet spotâ€? that is ours to own. Spend some time asking yourself these questions before you embark on a new project:

r "GUFS ZPV IBWF EFUFSNJOFE UIBU ZPV IBWF passion for your niche market, make sure there are enough people in your niche market to patronize your products. You cannot for example, start to package fura (hausa drink) in Lagos and expect to make as much money as you would make in Kaduna or Kano. You need to decide that whatever products you decide on will have a ready market. r &OTVSF UIFSF BSFO U UPP NBOZ QMBZFST JO your niche market. My observation is that once we notice or see a business making money in a particular area, we all jump in and start to do the same thing. I observed this situation when water in satchets (pure water) first came into the market. The manufacturers were happy and felt it was profitable. Now everybody has gone into the business and they are all complaining because too many people are in the same business crowding each other out with very little differentiation. r *U JT JNQPSUBOU UP Ă OE PVU BCPVU DPNQFUJUJPO to see if a new business in this niche will be viable. Study your competition. It is noteworthy to understand it is sometimes good to have competition, although some will see it as a problem. When we have competition, it helps us determine that we have found a profitable niche. What will then need to work on, is how to differentiate ourselves to put us on top of the pack. r .BLF TVSF UIF CVTJOFTT JT QSPĂ UBCMF #SPXTF top products in the area you are deciding on to determine whether there is demand for the product or service. If there are no offers or demand, it may not be a good sign. It may mean that nobody has been able to monetize the idea. You may want to spend some more time researching your service or product.

r )PX DBO * EJGGFSFOUJBUF NZTFMG GSPN competition? r 8IBU BSF UIF iOFX UIJOHTu UIBU * DBO CSJOH into the market?

Ensure there aren’t too many players in your niche market. My observation is that once we notice or see a business making money in a particular area, we all jump in and start to do the same thing

r 8IBU XJMM CF EJGGFSFOU BCPVU UIF QSPEVDUT and services I will offer? Answers to the bullets and the consideration of the points above, will take your business to the next level. Good luck! .

.– 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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Inequality Remains an Issue Obinna Chima reckons that rising inequality in the country should be of concern to policy makers Globally, the gap between the haves and the have nots have continued to swell. On daily basis, thousands of migrant from Africa, mostly Nigerians, attempt to enter into Europe and other continents in search of greener pastures, in order to get out of what they perceive as the excruciating poverty in the continent. In the course of this, a lot of them migrate through dangerous route through to Europe through Libya, with thousands of them get sucked into a world of violent crime and slavery. In fact, majority of the migrants involved are young men and womenwho flee economic realities that include poverty, inequality, and lack of opportunity Far from being a driver of economic growth, extreme inequality is a barrier to prosperity for most people. In Africa and some other countries around the world, prosperity is not trickling down to ordinary people, but up to those at the top, whose exceptional wealth is growing ever more rapidly. There is a growing consensus in the continent that inequality is a crucial challenge and failure to act is both economically and socially damaging. Inequality hinders growth, corrupts politics, stifles opportunity and fuels instability while deepening discrimination, especially against women. The potential benefit of redistributing the wealth of the very richest, by even a tiny amount, tells a compelling story.

Widening Inequality

Eighty-two per cent of the wealth generated last year went to the richest one per cent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam International report that was launched on the sidelines of the just concluded World Economic Forum in Davos, Switzerland. Entitled: ‘Reward Work, Not Wealth’ the report revealed how the global economy enables a wealthy elite to accumulate vast fortunes while hundreds of millions of people are struggling to survive on poverty pay. It stated that billionaires’ wealth rose by an annual average of 13 per cent since 2010 – six times faster than the wages of ordinary workers, which have risen by a yearly average of just two percent. The number of billionaires rose at an unprecedented rate of one every two days between March 2016 and March 2017, it added. According to the report, it takes just four days for a CEO from one of the top five global fashion brands to earn what a Bangladeshi garment worker will earn in her lifetime. Also, in the US, it takes slightly over one working day for a CEO to earn what an ordinary worker makes in a year. It would cost $2.2 billion a year to increase the wages of all 2.5 million Vietnamese garment workers to a living wage. This is about a third of the amount paid out to wealthy shareholders by the top 5 companies in the garment sector in 2016. The Oxfam report outlined the key factors driving up rewards for shareholders and corporate bosses at the expense of workers’ pay and conditions. These include the erosion of workers’ rights; the excessive influence of big business over government policy-making; and the relentless corporate drive to minimize costs to maximise returns to shareholders. Also, a Senior Lecturer at the Department of Economics, Lagos State University, Dr. Ibrahim Bakare described inequality as a social relationship between the haves and the have nots. This, to him, is also a relationship between the rich and the poor. “The existence of poverty in a society means individuals and groups are drawn into unequal relations with others who are more powerful or have a more privileged position through which they have an advantage. “This is a global scourge affecting different countries in order of relativity and it is very high

in less developed countries than in developed countries,� Bakare said. He attributed the rising cases of inequality in the continent to the mismanagement of resources. According to him, this has also led to a situation where state resources in some countries are being used to oppress members of the public. Poor leadership, greed on the part of the political leaders, weaker institutions that are not independent and in the interest of the less privileged, monumental corruption at all levels in Africa, favoritism, amongst others were some of the factors, which according to Bakare has continued to fuel inequality in the continent. “If you look at some African countries like Libya, Tunisia, Egypt, Sudan, and Somali and of course, the unprecedented level of inequality that has pervaded Nigeria, you will see a very deep gap between the rich and the poor. “The level of inequality we have in Africa is so wide and our leaders are not showing any sense of seriousness in order to address this challenge,� Bakare added. On her part, the Executive Director of Oxfam International, Winnie Byanyima, the billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. “The people who make our clothes, assemble our phones and grow our food are being exploited to ensure a steady supply of cheap goods, and swell the profits of corporations and billionaire investors.� “Women workers often find themselves off at the bottom of the heap. Across the world, women consistently earn less than men and are usually in the lowest paid and least secure forms of work. By comparison, nineout of 10 billionaires are men,� she explained. “Oxfam has spoken to women across the world whose lives are blighted by inequality. Women in Vietnamese garment factories, who work far from home for poverty pay and don’t

get to see their children for months at a time. Women working in the US poultry industry who are forced to wear nappies because they are denied toilet breaks,� Byanyima added.

Way Forward

To a Senior Lecturer at the Department of Economics, Lagos State University, Dr. Salami Das-Kareem, there is need for urgent human capital development across the globe. He urged governments to develop programmes to would lift a lot of the people out of poverty. “If you want to have equality in the system, the cycle of poverty must be broken through education. Education will make them participants in economic activities and boost entrepreneurship. “There is also need to develop areas of comparative advantage in economies in Africa. Mostly, the agriculture must be encouraged. “There is need to develop public-private partnership to boost the agricultural sector. In most Asian countries, the percentage of the contribution of agriculture to the GDP in most countries is as high as 30 per cent,� Das-Kareem added. Also, a former Deputy Governor at the Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu, in his book, “Emerging Africa,� argued that in the continent, national level strategy should be focused on how to create an environment that promotes productivity. He added: “Africa’s sustainable economic development depends greatly on how well each nation is able to create an enabling environment for businesses to thrive, promote trade within the continent and eventually compete globally. “Efficient infrastructure, adequate access to financial and human capital, better living conditions, safety and security, good governance and the rule of law are some of the drivers of enabling productivity.�

But in recommending ways to tackle the depressing situation, Oxfam called on governments to ensure that economies work for everyone and not just the fortunate few. The report stressed the need to limit returns to shareholders and top executives, and ensure all workers receive a minimum ‘living’ wage that would enable them to have a decent quality of life. “For example, in Nigeria, the legal minimum wage would need to be tripled to ensure decent living standards,� the report added. It also called for the elimination of gender pay gap and protect the rights of women workers, noting that at current rates of change, it will take 217 years to close the gap in pay and employment opportunities between women and men. “There is need to ensure the wealthy pay their fair share of tax through higher taxes and a crackdown on tax avoidance, and increase spending on public services such as healthcare and education. Oxfam estimates a global tax of 1.5 percent on billionaires’ wealth could pay for every child to go to school. “Results of a new global survey commissioned by Oxfam demonstrate a groundswell of support for action on inequality. Of the 70,000 people surveyed in 10 countries, nearly two-thirds of all respondents think the gap between the rich and the poor needs to be urgently addressed. “It’s hard to find a political or business leader who doesn’t say they are worried about inequality. It’s even harder to find one who is doing something about it. Many are actively making things worse by slashing taxes and scrapping labor rights,� said Byanyima. “People are ready for change. They want to see workers paid a living wage; they want corporations and the super-rich to pay more tax; they want women workers to enjoy the same rights as men; they want a limit on the power and the wealth which sits in the hands of so few. They want action.�

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Need for More Awareness on e-Dividend Enrolment The Securities and Exchange Commission has again extended the deadline for free registration for electronic dividends to February 28, but more enlightenment is needed for the exercise to succeed, writes Goddy Egene One of the major challenges investors have been facing in the nation’s stock market over the years is the issue of unclaimed dividends. The unclaimed dividends once rose to over N80 billion. Worried by the situation, the Securities and Exchange Commission (SEC) decided to find a solution. It decided to introduce electronic dividend (e-dividend) for investors to get their dividends directly credited to their bank accounts. To ensure a successful exercise, SEC collaborated with the Central Bank of Nigeria (CBN) and Nigerian Inter-Bank Settlement System (NIBSS) to launch Electronic Mandate Management System (E-DMMS) platform in 2015. After the introduction of the platform, SEC started to encourage investors to register for e-dividend instead of waiting for dividend warrants. The regulator then said from July 1, 2017, dividend warrants would no longer be issued. That deadline was thereafter moved to January 1, 2018. Also, SEC said the free enrolment for the e-dividend would stop by December 31, 2017, meaning that investors, who were yet to register for the e-dividend would continue to do so but will have to pay N150. However, the acting Director General of SEC, Dr. Abdul Zubair said last week that the deadline for the free registration, that has been paid for by the commission since the introduction of the e-dividend would continue till February 28, 2018. According to the commission, in reviewing the progress of the e-Dividend registration exercise after the December 31, 2017 deadline, it was noted that there was still a great influx of shareholders desirous of mandating their bank accounts for payment of dividends electronically. “In light of the foregoing, the SEC, as part of its developmental role, has extended the period for the free e-Dividend registration exercise till February 28, 2018, to encourage more shareholders mandate their Bank Accounts. “Accordingly, shareholders that are yet to register should continue to approach their Banks or Registrars to mandate their Bank Accounts for the collection of their Dividends electronically, including unclaimed dividends, not exceeding 12 years of issue� SEC said. While the extension of the free registration has been seen as a welcome development, investors have urged the regulator to embark on more enlightenment before the end of the new deadline.

BeneďŹ ts of e-dividend platform When the e-dividend platform was introduced in 2015, the suspended Director General of SEC, Mr. Mounir Gwarzo had explained that the platform would address the lingering problem of unclaimed dividend, which the market had sought solution for the past 20 years. “The era of stale dividends and huge unclaimed dividends in the market will be a thing of the past with the launch of e-dividend payment platform. We are determined to see the full implementation of the system to facilitate effective payment of dividends to investors. Also speaking on the benefits, Head, Business Process, NIBSS, Samuel Oluyemi, said that the e-dividend portal was developed under the auspices of zero tolerance on unclaimed dividends being pursued by SEC. The platform, he explained, would allow direct payment of dividends into investors’ accounts once the mandate form was completed appropriately. Oluyemi said investors would supply bank account number, registrars shareholders account number, clearing house account number and bank verification number in the mandate form to facilitate payment.

enlightenment and awareness creation. Also, there should be other incentives. I know SEC is trying by saying the registration is free but those that are in rural areas, should have a motivating thing that would encourage them to come and register,� he said. On the multiple applicants forfeiting their money to the capital market development fund, an investor, said that would be going contrary to the provision of CAMA.

Shareholders demands more awareness

Zubair

According to him, the portal would also accept payment of dividends into dormant accounts, adding that an investor could only withdraw the money after revalidating the account. “The registrars have been mandated to provide online access of the mandate forms to investors in Diaspora for efficient implementation of the e-dividend payment platform,� he said.

Issuance of dividend warrants halted Already, SEC has stopped Registrars from issuing dividend warrants, while shareholders who bought shares and registered with multiple names have been given till March 31, 2018 to consolidate their accounts. Zubair said: “With a view to encouraging many more investors to consolidate their multiple subscriptions into one account, the SEC wishes to announce an extension of the forbearance for Multiple Accounts till March 31, 2018. Accordingly, investors that bought shares of the same company during public offers, using different names, are allowed till 31st of March, 2018 to continue to approach their stockbrokers or registrars to regularise their shareholdings in line with SEC Rules on customer identification. Thereafter, all shares not regularised shall be transferred, on trust, to the Capital Market Development Fund (CMDF).�

Registrars’ Position Speaking on the plan by SEC to discontinue issuance of dividend warrants, the Executive Secretary, Institute of Capital Market Registrars (ICMR), Dr. David Walker Ogogo had said the Registrars were prepared to implement the directive of the capital market regulator. “Regarding the decision of SEC on the issuance of dividend warrants, the registrars do not have any problem. Since the information was made public, we have been preparing our minds and have told them to tell the publicly quoted companies that this is what the regulator is looking. We have the companies already

and we are working towards it,� Ogogo said.

Fresh concerns However, some market operators had said stopping issuing warrants would rather increase the amount of unclaimed dividends in the market, a development that is capable of negating the current efforts of the regulator to reduce unclaimed dividends. A senior stockbroker had told THISDAY that the regulators and registrars have been working on reducing unclaimed dividends, but the E-DMMS platform, which was supposed to absorb all the dividends was not yet perfectly being adopted. “The rate of success is still low now you and they are planning not to issue physical dividend warrants again, which means if the success you have recorded is about 35 per cent, the remaining 65 per cent would be with the registrars. This will mean going back to square one,� the broker said. The broker explained that from their interactions with Registrars, they confirmed that they account details of investors but until the investors go to the Registrars, nothing that can be done. This means that their e-dividend mandates cannot go into the E-DMMS platform. “We have even had experiences with some Registrars, who said their old e-dividend mandate forms were discontinued by SEC, saying that only the new platform should be used. “But if you say everybody must go to the platform, the rate at which people are going there is low. I think there should be more enlightenment and awareness creation. Do not forget the issue of multiply applicants is also there. Because the E-DMMS platform uses BVN, many of those multiple applicants cannot get back their dividends. That means those monies would remain with registrars. Now if you say no new warrants should be printed, the registrars will only pay those who are in the system already. Invariably, instead of reducing the dividends in the system, you are increasing the level. There should be more

While the efforts by regulator to address reduce unclaimed dividends have been hailed, shareholders insisted that there is need for more enlightenment. “Considering the fact that level of enrolment has remained low, it points to one major issue. And that is the need for more enlightenment and awareness creation among investors, especially those in the grassroots. SEC should review its strategy regarding awareness creation,� Moses Igbrude of Independent Shareholders Association of Nigeria (ISAN) said. The Chairman of Ibadan Zone Shareholders Association, Mr. Eric Akinduro, said the proactive steps taking by SEC on unclaimed dividends through e-dividend platform is a welcome development that is going to help to reduce the incidence of unclaimed dividend. According to him, SEC has also done well by creating a platform where investors can check their non-mandate account with registrars and which many of them have embraced. “However the dead line is what I fault due to the level of illiteracy of both investors and even the banks. SEC needs to do a lot of enlightenment at grassroot level for the small investors that are the major owners of these unclaimed dividends to know how to do about it. Also the issue of signature irregular has to be addressed. Many investors are still facing a lot of difficulties when it comes to signature problem either irregular signature or no specimen signature. What I believe is that this new development in the banking sector should be aligned to do that. So far the BVN and bank has endorsed the form and you can link the name to other shares owned by the investor there should be a way where they can amalgamate the accounts as this will help indeed. So SEC should not close the platform because unclaimed dividend is a continuous issue that cannot stop over a period of time. How many small Investors have access to internet and computer to check this but with time information will go round and more people will get it done,� Akinduro said. Speaking in the same vein, Mrs. Bisi Bakare, stopping issuance of dividend warrants would not solve the problem. According to her, while it is good to embrace e-dividend, there is still a lot of work to be done to resolve back-log of complaints. She noted that many investors still have issues with registrars pertaining to creation of multiple accounts for bonus issues by some registrars among others. “In as much as I am in total support of e-dividend, it is not matured now to completely stop the issuance of dividend warrants. Before that should be done, we need to do more of enlightenment, especially in the rural areas. Before now, most investors were civil servants, who have retired to their villages or changed addresses. Most of them do not have access to mass media to key into the E-DMMS that SEC has introduced. We need to go down to the rural areas to enlightened them. If SEC goes ahead to implement its decision, many of the investors would remain locked out and this would have defeated the objective. The regulator should collaborate with other stakeholders and do more enlightenment for a more efficient result,� she said.

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BUSINESSWORLD

INSURANCE

Expanding the Nigerian Insurance Market The insurance sector’s low contribution to the economy has remained a source of worry to both the industry regulator National Insurance Commission and operators. Ebere Nwoji highlights the strategies put in place by NAICOM that will expand the frontiers of the insurance market in Nigeria The National Insurance Commission (NAICOM), for almost a decade has been struggling to deepen insurance penetration in Nigeria to ensure that Nigerians who are alienated to insurance begin to embrace the services. The target is to protect lives and properties, ensure that where risk which is often unforeseen occurs, victims will be restored to their former positions through claims payments. It is also primarily targeted at growing the insurance sector’s premium generation and enhance its contribution to the GDP of the economy. The commission, which commenced the struggle since 2009 through the launch of a medium term plan tagged ‘market Development and Restructuring Initiative’ (MDRI),is currently leveraging the opportunity of the federal government’s financial inclusion strategy to bring average Nigerian into insurance net. The MDRI, which first phase billed to span between 2009 and 2012 failed to totally achieved its set objectives, especially the transformation of insurance market from the then N260 billion premium market to a trillion Naira market through the enforcement of the five compulsory insurances and clamp down on the activities of fake insurance operators will have its second phase launched by the commission this year. The commission, said to achieve this set objective of increased insurance penetration, it has since last year set itself to address both internal and external forces working against its achievement of the objective. To this effect, the commission, last year, focused attention on ensuring that operators manage the relationship between the forces of innovation and competition coming their way Commissioner for Insurance, Mohammed Kari and turn it around as engine of growth of the sector which currently merely contributes 0.48 firms are only located in capital cities and at best percent to the GDP of the economy. Obviously in state capitals. He cited examples saying in northeast, out of insurance operators are currently grappling with tough new businesses and new ideas coming 112 local governments, it is not certain that there from foreign investors into the economy which is a branch of insurance company there. According to him, in north west, out of 126 local have made competition very tough and elicited tougher regulations geared towards making governments,106 branches of different banks are there but insurance firms have no representative the industry globally competitive. Also, advancement in information technology branch adding that the story is the same with has not posed smaller challenge to the industry. some parts of north central . The result is that due to overconcentration of A closer look at activities in the industry shows that unhealthy competition has over the years insurance firms and their marketing staff and agents remained the bane of the industry’s growth as it in the cities and too much focus on corporate has brought along unprofessional practices like business and government accounts with little or price wars rate cutting, return premium among no efforts towards development of retail market others which have retrogressed the premium which is available in these neglected rural areas, growth of the industry placing operating firms operators resort to cutting corners in order to grab in weak position that incapacitated them from the available businesses and grow their premium paying genuine claims, a development which income. This has resulted in unhealthy competition that weakens public confidence in the industry and gave rise to the prevailing rate slashes which is tarnishes the overall image. Closely connected to this is the fact that the now killing the industry. Recent, financial report of operating firms released Nigerian insurance market is grossly under by NAICOM showed that some firms operate with served with insurance services. Survey conducted by NAICOM in recent years capital below the minimum required level while shows that most Nigerians who are alienated others are exactly on minimum required capital, to insurance services do so not because they a sign that they will soon operate with capital don’t like the services or are too poor to afford below the required level. At a recent media retreat organised by the them but mainly because nobody extended commission in Benin City, Edo state, the Deputy insurance services to them. Indeed, most Nigerians especially those in Commissioner for insurance Technical Mr. Sunday rural areas, going by the result of the NAICOM’s Thomas said the commission will this year, look survey, have no idea of what insurance is all critically at how to penetrate every nook and cranny about and what benefits are there for them of Nigeria with insurance services. He said that the commission, this year, has a because of lack of education on insurance. To addressed this, the commission, had strategic policy on how to sustain all the achievedesigned a programme tagged ‘Reaching ments it made last year and the previous years the Unreached’. This is targeted at bringing in its effort to deepen insurance penetration in Nigerians often left behind in insurance service the country. He said because of the National Strategic policy provisions under insurance coverage. Briefing the media on the programme, NAI- of lifting the economy by the federal government, COM Director of Authorisation, Pius Agboola, the commission, has come up with the idea of noted that one of the greatest challenge in launching the second phase of the MDRI. He said the commission, will make use of serving Nigerian population with insurance services is distance, adding that whereas bank governors’ forum platform to reach all states of operators have successfully spread their branches the federation with insurance services. The target according to him is to grow the to the remotest parts of the country, insurers industry’s premium and enhance its contribution are yet to do so. According to Agboola, branches of insurance to the GDP.

But Thomas said that one of the foremost things NAICOM will achieve this year is fighting against unhealthy competition especially as it concerns pricing of insurance products. He said this is why the regulator recently released premium rates and guidelines on micro insurance operations. According to him, this year, insurance firms will pay heavy fines as a result of unprofessional pricing adding that completion in the industry this year will shift from pricing based to service based competition. Speaking on the topic, ‘Expanding the Frontiers for Insurance Market Development and Penetration in Nigeria: the NAICOM Initiative’, the Director, Research, Statistics and corporate Strategyof NAICOM, Habila Amos, said the fundamental issues in Nigerian insurance market today is that the industry contributes only 0.48 percent to the GDP and that the market is dominated by brokers and general business of which motor insurance and oil and gas insurances are the largest products sold in the market. Corporate clients constitute no less than 75 percent of the customers attended to by operators spelling the need for development of the retail segment of the market. He said that there is a strong positive correlation between insurance and economic development in Nigeria as the sector stands as a good predictor of economic development of any country in Africa. Amos highlighted the performance of the insurance sector after this decade of efforts by NAICOM and other stake holders to expand the frontiers of the market saying in 2010, Nigeria was ranked the fourth market in Africa in terms of premium generation, occupied 14th position in Africa in terms of insurance density , ranked eighth in Africa in insurance penetration. He said though the commission could not achieve all its targets in the first phase of MDRI, between 2009 and 2012, there was 44 percent increase in number of policies sold by the industry the highest being between 2009 and 2010 when the industry achieved 52 percent increase . He said for the proposed launch of the second phase of the MDRI, NAICOM has put up 11 initiatives aimed at expanding the market. These initiatives according to him are enforce-

ment of compulsory insurances which according to him the commission has successfully signed agreement with government agencies for compliance, Getting government to protect its assets through insurances, engagement of both internal and external stakeholders, enhanced market distribution channels, financial inclusion initiative, introduction of Risk Base Supervision in place of compliance base supervision, retention of risk in special risk business initiative, enhancement of policy holders protection, no premium no cover implementation, building trust and confidence in the industry through establishment of body like public complaint bureau unit and facilitation of index based agricultural insurance for farmers protection and enhanced food production in the country. Observers have viewed that these efforts if backed up by positive actions by operators this year will definitely reposition the industry and enable both the commission and operators achieve their primary target of growing their premium income and contributing meaningfully to the GDP. On their parts, operators have said that in reaching the unreached programme, it will be expensive for an insurance marketer to get to a particular place to sell insurance product, which premium is just N500 using N300 transport. They also complained that it will be difficult for an insurance-firm to open branch office in a place it knows that for the first five years, it cannot even generate premium income that will pay the salary of few staff used in the same branch let alone making profit. Insurance firms in the past closed branches in some states where they could not recover the money they used in opening the branches after years of fruitless efforts. These and more are some of the discouraging factors in the on gong efforts to expand the market. Even in the face of the proposed micro insurance, the initial experience may not be palatable. Here comes the need for government to beef up its insurance attitude. In any business, specially the services sector, government has remained the highest spender and biggest customer. If government at all levels will change their attitude towards insurance, premium generated from state and local government insurances alone will be enough to sustain insurance firm’s branch in a particular locality pending the time the retail segment of that particular locality will develop and begin to feed the insurance firms in the area. This being the case, government should be at the fore front of implementing the compulsory insurances in order to encourage the citizens to comply. If government does not want the insurance sector to go the way of textile firms in Nigeria which continued to lament over government’s lip service until the demise of the last textile firm which was United Textile limited (UNTL), government should listen to the advice of NAICOM which is federal government adviser on insurance matters regarding the insurances of its assets. Available information says that government hardly takes NAICOM’s advice in this regards. Attestation to this is the fact that till date, some government ministries, departments and agencies (MDAs) are yet to heed to NAICOM’s advice on establishment of insurance desks in their offices. What this means is that, assets of such agencies including their motor vehicles are without insurance cover and government employees working without group life insurance cover. The implication is that in the event off anything happening to such worker, his family will be left without any compensation and in the event of any uninsured government vehicle including presidential jet having accident, the third party involved has made the list of victim of hit and run vehicle because the driver of such vehicle will as usual assume that because it carries federal or state government number, he is free to hit anybody and go free.

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BUSINESSWORLD

NEWS

Power Africa Partners Ibadan Disco to Boost Electricity Supply in Southwest ÂœČąÄ™Â›Â–ČąÂ‹ÂŽÂ–Â˜ÂŠÂ—ÂœČąÂ•Â˜ÂœÂœČąÂ˜Â?ȹ•’Â&#x;ÂŽÂœČąÂ’Â—Čą Â•Â˜Â–Â’ČąÂ™Â˜Â ÂŽÂ›ČąÂ’Â—ÂŒÂ’Â?Ž—Â?

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Ejiofor Alike As part of efforts to improve the power sector in Nigeria, Power Africa, a US government-led initiative, coordinated by the USAID has signed a Memorandum of Understanding (MoU) with the Ibadan Electricity Distribution Company (IBEDC), to improve power generation in the five states of Southwest under IBEDC. This is coming as IBEDC has commiserated with the bereaved families and those who suffered loss of valuables and property during the recent unfortunate power incident, which occurred in Olomi Academy along Lagos-Ibadan expressway, Oyo State. The partnership agreement sealed in Abeokuta, Ogun State, will see Power Africa providing external technical and managerial support to the IBEDC in its efforts to

reduce energy losses, increase revenue, and improve overall performance of the utility in its area of coverage. T The agreement was signed by Chief of Party for the Power Africa Transactions and Reforms Programe, Llyr Rowlands, on behalf of the USAID and, the Managing Director, IBEDC, John Donnachie, for his company. Speaking at the event, Director, Office of Economic Growth and Environment, USAID, Roseann Casey, said higherperforming DISCOs contributed to a more robust energy sector in Nigeria by ensuring that power generators are compensated for electricity supply, and that generated power is not “lost� or “stranded� by lack of distribution and transmission capacity, and by attracting private investment in new electricity infrastructure. “Enhancing technical and operational efficiency, reducing

losses, and making it easier to collect payment will boost the bottom line at DISCOs, inject cash into the energy value chain, and attract investment for electricity expansion projects that will benefit people and businesses across the country,� Casey said. According to Casey, Power Africa initiated similar support to three DISCOs in Abuja (AEDC), Benin (BEDC), and Lagos (EKEDC) in 2016, with substantial success to date. She noted that aggregate energy losses had been reduced at each DISCO, and that revenue collection increased by N27 billion (approximately $75 million) in 2017. Casey revealed that Power Africa’s support to the four dis-

tribution companies represents a $12 million investment in the self-reliance and resilience of Nigeria’s energy sector, and demonstrates USAID’s position as the world’s premier international development agency. Also speaking, Donnachie said the agreement would herald the beginning of a “mutually beneficial partnership� with the agency. “We appreciate the support we have received from Power Africa, and we look forward to working together to improve operations, to building a healthier electricity value chain, and ultimately to better times for our customers,� Donnachie said. “Remember that everything is about money – to

buy meters we need money; to connect people to power we need money. Tariff is below the cost, so we need to work hard with the government to see what we can do to get people to pay for power. I believe everybody should have power but, the more you do it the cheaper it gets. If we don’t pay for power we’re depriving the future development of this country,� Donnachie noted. In a related development, the recent incident at Olomi in Oyo State was caused by a wire cut on a HV 11KVA feeder, the wire which then rested on an LV 415KV feeder, raised the voltage on the LV 415 feeder to a dangerous level and this got transferred to the nearby houses resulting in the

burning of a house and the loss of four lives. In a swift response, the Deputy Managing Director of IBEDC, Mr. John Ayodele, had explained that “a lot of reasons can be adduced to wire snaps which although is not a daily occurrence, is part of unforeseeable events in electricity distribution� “The mishap could also be because of the present harsh weather or as we know, the area to be densely populated with an inherited substandard substation. The substation was approved for upgrading earlier this month and IBEDC was about to carry out a rehabilitation of the facility before the sad incident took place,� he said.

NASCON Plans New Investments to Boost Returns, EfďŹ ciency Jonathan Eze NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited, has said that it is investing in backward integration projects as a strategy to diversify and add more value to both its shareholders and the Nigerian economy. Chairman, Board of Directors of NASCON, Mrs. Yemisi Ayeni, stated this yesterday at the sounding of the closing gong on the floor of the Nigerian Stock Exchange (NSE). Addressing stockbrokers on the trading floor of the Exchange, she said adhering to best corporate governance has yielded the desired results as the company performed strongly despite the harsh operating environment, delivering good returns to all stakeholders. She said “We are committed to best corporate governance requirements as all our board members have passed the fiduciary test.â€? She told the stockbrokers that NASCON Allied Industries is the company to watch out for in the future in terms of performance as it is breaking new grounds while embarking on projects that will enable it to remain a reference point in the food industry. While appreciating the gesture of the NSE management in inviting NASCON to sound the closing gong, Ayeni stated that the food processing company will continue to partner the exchange in its drive to ensure that best practices are adopted by listed companies. She commended the management of the exchange for the progress recorded in promoting corporate governance which has resulted positively with

many companies coming for listing. She added that NASCON is proud to partner with an entity that is progressive and ICT driven. It would be recalled that Executive Director, Commercial, Fatima Aliko Dangote recently assured the shareholders of good returns on their investments, noting that the company is doing so much to enhance their stakes on a consistent basis. According to her: â€œâ€Śwe are expanding, we are investing on new refinery for our salt and we are also looking at innovations, we are bringing other products that are going to be launched soon‌We placed shareholders interest so high because they have actually trusted us, they have invested in our business and as you can see, regardless of our challenges, we are still able to push really hard and declare profits. we have to take our shareholders very seriously so that they can keep trusting us, and by so doing, more people will keep buying our shares and hold us in high regardsâ€? Managing Director/Chief Executive of NASCON Mr. Paul Farrer fielding questions from Capital Market Editors at Monday’s event said the company is planning fresh investments that would enable it boost efficiency in its operations. Managing Director/Chief Executive, Mr. Oscar Onyema, in his welcome remarks, commended the board and management of NASCON for their efforts in ensuring that the company is run efficiently. He asked for the partnership of the company to enable the NSE discharge fully its corporate social responsibility projects.

GROOMING TOMORROW’S LEADERS

L-R: Director-General, National Directorate of Employment (NDE), Nasir Mohammed Ladan; Edo State Governor, Mr. Godwin Obaseki; Senior Special Assistant to the Governor on Skills Development and Head, EdoJobs, Mrs. Ukinebo Dare; Commissioner for Youth and Special Duties; Hon. Mika Amanokha and Edo State Coordinator, NDE, Mrs. Ayo Edegbai, at the flag-off ceremony of NDE training programme for 76,400 people in various states in Southern Nigeria, held at Imaguero College Hall, in Benin City ... recently

Flour Mills Subsidiary to Empower Youths in Calabar Jonathan Eze Flour Mills of Nigeria Plc (FMN) Group, has announced that it has through one of its divisions, Niger Mills, Calabar, initiated a youth capacity development training and empowerment programme in partnership with the federal government’s Industrial Training Fund (ITF). This move according to the company is aimed at developing and empowering youths in the country to realise their ambitions and contribute immensely to national development. Speaking at a brief ceremony in Calabar, Cross River State, to unveil the first set of beneficiaries of the programme, the Company Secretary/ Director, Legal services, Flour Mills of Nigeria Plc, Joseph Umolu, disclosed that the youth development programme is part of the company’s Corporate Social Responsibility projects and an ongoing community-based process to avail young people with the competencies and social skills required to become productive members of the society. He disclosed further that, in

addition to the skills acquisition training, each beneficiary will be paid a monthly stipend during the period of the training which is expected to last between six months and one year. On his part, the General Manager, Niger Mills Calabar, Christiaan Rautenbach said the company is committed towards improving the standard of living of the people in the environs where it operate. He also stated that Nigeria Mill would continue to invest in projects that positively impact on our environment. “At Niger Mills, we are passionate about improving and enriching the lives of our host communities. We are excited at the prospects of this training scheme, and will continue to invest in projects that positively impact on our environment.� He disclosed that 14 people, who have a minimum academic qualification of the first school leaving certificate, were selected across four host communities in Calabar, as recipients for the first set of training in fashion designing, bakery and pastry, aluminum fabrication, plumbing and fitting, and welding.

Bread Makers to Explore Use of Cassava Flour Premium Breadmakers Association of Nigeria (PBAN), a newly-registered Association comprising Owners/Managing Directors/Partners of Premium Bakeries in Nigeria is seeking partnership with regulators in implementation of the cassava flour project. They reiterated that the project will reduce the cost of production and reduce the price of bread in Nigeria. Bread being eaten in the country has always been wholly made of flour; but the government has been pushing to achieve this project by encouraging the bakers to mix locally made cassava flour with wheat in the baking process. Speaking during its maiden press conference, Tosan Jemide, President of PBAN, said the association intends to work with the relevant authorities and stakeholders in the cassava flour project, which seems to have lost some steam. According to Jemide, bakeries suffer seriously due to epileptic power supply and high cost of alternative energy supply as bread makers’ power most of

our machines with generators and the cost of diesel is almost out of our reach. This he said has led to the closure of bakeries with attendant loss of jobs. Speaking on the functions of the association, the president said, “PBAN will pay particular attention to the quality of the bread her members produce for public consumption by working with NAFDAC and other regulatory bodies to ascertain the quality of what we churn out into the market. We shall ensure quality assurance with consumers’ health being paramount in our mind. “We will ensure that the equipment used by our members is in line with international best practices and will comply with every extant environment and safety regulations to forestall emission of carbon into the atmosphere thereby helping to control ozone layer depletion.� The association also promised to build synergy with relevant stakeholders in the bakery industry in Nigeria and ensure there is no dumping of unwholesome baking materials that will constitute health hazard to Nigerians.

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BUSINESSWORLD

INSURANCE

Index Based Insurance Scheme Kicks Off in Nigeria Soon Stories by Ebere Nwoji Farmers in Nigeria will henceforth have good access to insurance coverage as the National Insurance Commission (NAICOM), is championing the course of a specialised and inclusive agric insurance scheme tagged Index based agric insurance(IBAI). The IBAI is an innovative and specialised insurance scheme that pays out benefits on the basis of a predetermined index (e.g. rainfall level, crop yield) for loss of assets and investments, primarily working capital, resulting from weather and catastrophic events, without

requiring the traditional insurance services. The commission is currently planning to collaborate with the authority of the Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) for the purpose of ensuring the workability of the index based insurance scheme. Both the commission and the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA), have opened up discussions with NIRSAL for the purpose of rendering this much needed financial services to farmers in Nigeria. Speaking on the scheme at a media seminar organised

by NAICOM for journalist in Benin, Edo State, the Director Inspectorate department of NAICOM, Mr. Thompson Barineka, said that IBAI is a special scheme evolved to support farmers in Nigeria as he noted that farmers in Nigeria hardly get loans despite the much noise about low interest rate for farmers in Nigeria made by banks. He noted that Nigerian farmers suffer a lot because of perishable nature of their produce and lack of preservation method.

He said before now, only the federal government owned Nigerian Agricultural Insurance Corporation(NAIC( was licensed to provide agric insurance services mainly because of gvernment subsidy involved but that NAICOM few years back liberalised the market by licensing other insurance firms to provide unsubsidised agric insurance scheme to farmers. He said by introducing and promoting the scheme, NAICOM is keying into the ongoing efforts by the present

administration to diversify the Nigerian economy and create opportunities to promote Agric. business and employment in the last few years. “ The role NAICOM has played in the last couple of months in promoting access to Agric Finance and assurance of compensation on basis that are different from the conventional insurances to formers. He described the scheme as a strategic initiative in Insurance penetration & contribution to the development of Agric add-

ing that IBAI is a programme in support of the policy of government. Speaking on the workings of IBAI), Barineka, said traditionally, when risks or a loss event such as a major drought, epidemics or other hazards affects a large population all at the same time or small rural farmers, and often in difficult circumstances, even over a relatively small area or region, assessing the losses of each individual insured party that is affected is not feasible.

Premium Rate Charges: NAICOM Threatens Sanctions against Errant Firms The National Insurance Commission (NAICOM), has threatened sanctions against insurance companies that violet its rules on premium rate charges and others who indulge in other forms of unprofessional practices. The commission, also said it is closely monitoring activities in micro insurance market, further adding that it will ensure that new entrants into the system and existing operators strictly adhere to its recently released guidelines. Deputy Commissioner for insurance Technical, Mr. Sunday Thomas, who stated this at media retreat organised for insurance journalists in Benin, Edo state, said heavy fines on errant operators in the area of premium rate charges have become necessary because though premium rates for insurance products have been fixed, operators intentionally violet it because of unhealthy competition. He said the commission, which penultimate week released rates especially on compulsory insurances will in the current business year not tolerate ridiculous rate charges

by operators but will severely fine any insurance firm found charging unprescribed rates. “Services will be bases for competition not pricing, there should be constructive competition, ,monitoring of errant companies will not be a problem, companies will be made to pay heavy fine for charging unprofessional rates this year, once you violet the rule, we follow provisions of our guidelines� Thomas said. Speaking on guidelines for micro insurance operations released by the commission recently, Thomas said there are about 17 standalone micro insurance firms. He said both the existing micro insurance firms and new entrants into the system will be made to operate in line with the released guidelines. According to him, the existing micro insurance firms have 18 months to off load their operations and assume position as standalone firms and transfer every business in their portfolio which they are not supposed to underwrite to other micro insurance firms who are qualified to underwrite such businesses.

Continental Re Announces Prizes for 2018 Journalism Awards Continental Reinsurance plc has announced prizes for finalists of the 2018 Pan African Re/ Insurance Journalism Awards. According to the company, finalists of this year’s awards stand a chance to win a fully paid trip to attend the awards ceremony and CEO summit that will take place in Swakopmund, Namibia; a cash prize and a two-day training on journalistic and writing skills following a recommendation by judges last year. The company in a statement said journalists will be issued with certificates upon completion of the training. “We are confident that 2018 prizes will bring on board seasoned journalists who are ready to change the tide in terms of Re/Insurance reporting,� said Dr. Femi Oyetunji, Group Managing Director/CEO, Continental Reinsurance Plc. He said the journalism

awards are now in full gear with reporters from both French and English-speaking African countries sending through their submissions to beat the January 31stdeadline. The statement said interested participants can submit their entries online through the Awards website. The statement listed the three categories in the 2018 awards Pan-African Re/ Insurance Journalist of the Year, best Re/Insurance Industry Analysis and Commentary; and best Re/ Insurance Industry feature article. Continental Reinsurance initiated the awards in 2015 to recognise and acknowledge the good work of media on the continent. Journalists were required to demonstrate how their articles raised awareness and understanding of the re/ insurance sector in Africa.

BUSINESS EXPANSION

L-R: Chief Marketing OďŹƒcer, Sterling Bank, Henry Bassey; Executive Director, Sterling Bank, Grama Narasimhan; CEO, SOLO Phone, Tayo Ogundipe and Mojeed Aluko of 9mobile at the press brieďŹ ng of the Bundled Smart Phone Acquisition Scheme powered by Sterling Bank, 9mobile and Solo Phone, in Lagos ... recently

PenCom Directs PFAs with N100bn FUM to Report to MDs The National Pension Commission (PenCom), has mandated Risk Management Departments of all Pension Fund Administrators (PFAs) with Funds Under Management (FUM) of N100 billion and above to report directly to their Managing Directors/ Chief Executive Officers (MDs/ CEOs). PenCom, said this is part of its efforts to ensure sufficient oversight and supervision of risk management processes among PFAs. PenCom stated this in a circular signed by its Head, Surveillance Department, Mohammed Datti and issued to all licensed pension fund operators. According to PenCom, the directive takes immediate effect and supersedes the previous circular on the same issue released on June 27, 2011.

The Commission had on the above date directed PFAs controlling over N100 billion and above to create Risk Management Departments to manage the funds. Following the commission’s directive, the department was created by the PFAs in 2011. Barely seven years after this, PenCom in a recent circular obtained from its website, directed the department managers with funds over N100 billion to report directly to their Managing Director. The circular reads: “The commission’s circular on PFAs with funds under management of N100 billion and above dated 27 June, 2011 highlighted the following departments that are to report to the MD/CEOs of the PFAs with fund under management of N100 billion and above, Legal/Company

Secretary; Internal Audit and Compliance. “However, as the risk management function is a vital control function for management, it is impressive that Risk Management Department of PFAs also report to the MD/CEO to ensure sufficient oversight and supervision of the risk management process. “Consequently, Risk Management Department in all PFAs with fund under management of N100 billion and above shall be required to report directly to the MD/CEO,� the commission stated. PenCom had in the initial directive on creation of Risk Management Department in addition stated that PFAs with funds under management of N100 billion and above must have the following 11 departments at minimum: Contributions/Collections; Investment;

Benefit Administration; Business Development/Relationship Management; Finance; Information Technology; Compliance; Risk Management; Internal Audit; Administration/Human Resources; as well as Legal/ Company Secretary. The commission, had explained that the Contributions/ Collections Department would be in charge of management of overall contribution process. This include among others contributions records, contribution software and contribution document management while Investment Department would be responsible for the Investment Management of pension contributions, portfolio management, research & analysis and reconciliation etc. It said the Benefit Administration Department would be responsible for management of the retirement benefit process.

Royal Exchange Prudential Life Insurance Tasked on Excellent Service Delivery The Group Managing Director Royal Exchange Plc Alhaji Auwalu Muktari, has advised staff and management of one of the group’s subsidiaries, Royal Exchange Prudential Life Assurance (REPLA) to focus on customer service excellence, among other major initiatives, in its quest for market leadership as well as to enhance the company’s status as a dominant player in the life insurance industry. Muktari, gave this advice at

a strategy and budget retreat session organised by the company in Lagos. He encouraged staff of the company especially those in customer-service departments, to make service excellence their watchword and guiding principle in their interactions and dealings with clients of the company. According to Muktari, “The customer is at the heart and soul of every organisation’s growth and success and it is

very important to keep them satisfied if one wants to remain in operation. If the customer is treated well, he/she stays with you, but if they receive shabby and unsatisfactory treatment, they (customers) will take their business elsewhere.� In his remarks, the Managing Director of the company, Mr. Wale Banmore said in addition to service excellence, his company’s focus is also on the deployment and upgrade of a robust retail marketing

strategy to take insurance to the grassroots, as well as training/upgrading of its marketing personnel, in line with current realities. “The future of insurance in Nigeria is the life business, which has not been fully tapped into and for Royal Exchange Prudential to seek market leadership, an effective and efficient policy of customer service, loyalty and retention must be in place in the organisation�, Mr. Banmore insisted.

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BUSINESSWORLD

PERSPECTIVE

The Place of Local Operators in Oil and Gas Adebisi Odukoya writes on the contribution of indigenous operators in the oil and gas sector to sustainable development and the nation’s economic growth

Oil and Gas companies over the years have been accused of either evading taxes or shortchanging the government in paying the accurate taxes and levies. Though most of these accusations are not backed by empirical evidence indicting these companies, their case is not helped by the fact that the revenue from the oil and gas industry has not been able to meet the numerous needs of Nigeria as a country. Quite unfortunately, the oil and gas companies now appear to be the scapegoats responsible for the nation’s economic woes. This perception has gradually gained currency and acceptance across the populace. But a critical look at the books of some of these companies, especially the indigenous operators, shows the opposite has been the case. For example, Oriental Energy Resources, one of the most successful indigenous oil and gas companies, has over the years, not only shown commitment to its statutory obligations with strict compliance to government regulations, payment of taxes and levies, but has actively implemented sustainable initiatives in its host communities and area of operation. It is interesting to note that from its Ebok asset, Oriental Energy has so far paid well over US$500 million in royalties, US$125 million in transaction taxes, US21 million to NDDC in compliance with the statutory provisions of the enabling law establishing NDDC and US15.6 million directly to capacity building and developing the host communities in the Niger Delta. The foregoing is commendable and must be encouraged. The level of development of any nation depends on the amount of revenue it generates for public expenditure, the provision of infrastructure

and betterment of the citizenry. Any keen observer will see that companies like Oriental Energy are committed to development and growth of the Nigerian economy. Even in the area of social investments, which by itself is voluntary, one cannot over emphasize the company’s dedication to social inclusion. According to the company, its approach is to grow alongside its communities in a socially responsible manner while operating in an environment that fosters value creation

It is interesting to note that from its Ebok asset, Oriental Energy has so far paid well over US$500 million in royalties, US$125 million in transaction taxes, US21 million to NDDC in compliance with the statutory provisions of the enabling law establishing NDDC and US15.6 million directly to capacity building and developing the host communities in the Niger Delta

and sustainable development. Last year Oriental Energy launched a N700 million modern residential estate of 100 units in Enwang, headquarters of Mbo Local Government Area of Akwa Ibom state. The estate named Oriental Village Mbo when completed will have a solarpowered electrification system, a school, clinic, a shopping centre and will be given freely to beneficiaries. The project is being built and funded exclusively by Oriental Energy Resources Limited and the Muhammadu Indimi Foundation as a legacy project for Oriental Energy’s host communities. The company, since commencement of operation, has also created an annual scholarship fund which has seen over 470 scholarships awarded at post primary and tertiary levels to recipients in Akwa Ibom. They have also trained over 270 youth at seven Skill Acquisition Centres in Uyo, Oron, Eket and Ewang in Akwa Ibom state, all of whom received starter packs and start-up funds for their businesses. In 2012, Oriental intervened and supported the University of Uyo to secure full re-accreditation of theDepartment of Chemical and Petroleum Engineering from the Nigeran Universities Commission (and the Council for the Regulation of Engineering Practice in Nigeria, COREN). The company spent over N500 Million for the: renovation and equipping of Chemical Engineering and Petroleum Engineering Department; update and stocking of the Chemical Engineering and Petroleum Engineering Departmental Libraries, respectively; payment for a 5-year contract for the supply of contemporary academic journals and textbooks for the Chemical Engineering and Petroleum Departmental

libraries, respectively; payment for a 5-year contract for the supply of consumables in the Chemical Engineering and Petroleum Engineering laboratories, respectively; supply of 60KVA generator to power the Chemical Engineering and Petroleum Engineering Department; payment for 5-year maintenance contract for the generator. As part of its empowerment programme, over 500 women have been trained on business and financial literacy and while seed funds have been given to 200 community women to start up small scale businesses. It doesn’t end there. Oriental Energy Resources continues to carry out periodic free medical outreaches with Doctors, Nurses and medical personnel to its host communities with over 20,000 persons have benefitted cumulatively. It has also empowered the local fishermen by providing five modern fishing boats, nets and other equipment to enhance their productivity and economic growth. The company also made a $5million donation to the Special Victims Support Fund to help the rebuilding of states ravaged by the Boko Haram insurgency. In an era where both stakeholders and the public are now more aware, discerning and only respect companies that are good corporate citizens, it is heartwarming to see one of the leading indigenous oil and gas companies demonstrate steadfast commitment to ethical, sustainable development, and social values. Put bluntly, companies like Oriental Energy Resources should be encouraged and supported to do more. t"EFCJTJ 0EVLPZB B 1VCMJD "GGBJST $PNNFOUBUPS JT CBTFE JO "CVKB

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EDUCATION Easing Dyslexia in Children to Develop Full Potential Tackling dyslexia, a specific learning difficulty in children comes with concerted efforts as Dyslexic Nigeria is currently training teachers, screening and assessing children that are dyslexic, to enable them develop their full potential. Funmi Ogundare reports

From left: The Director of Dyslexia Nigeria, Dr. Adrienne Tikolo; her husband, Mr. Olu Tikolo; former Head of Service, Lagos State, Mrs. Folashade Jaji; and General Manager, Lagos State OďŹƒce for Disability Aairs, Dr. Awelenje Babatunde, during the oďŹƒcial opening of Dyslexia Nigeria OďŹƒce in Lagos... recently

Master Leonard Chukwu, 13 (not real name) has been dyslexic for the better part of his life. As a growing child, he was smart, well-spoken and knowledgeable, but he never knew how to spell or read and write. It was a big struggle for him passing through school and not being able to do what other children seem to do with ease. During a spelling class in primary school, he would get flogged severally for failing to spell correctly most of the words posed to him by his teacher, and classmates would jeer at him on countless occasions. Nigeria, most people don’t know of dyslexia. Most times when a child is struggling academically or is having any learning difficulty, parents, teachers and caregivers most times assume that the child is just being lazy or plain dumb. They usually suggest extra tutoring as the solution to the problem. According to studies, 60 per cent of students that have completed grade four and 44 per cent of students that have completed grade six cannot read a complete sentence in English Language or their mother tongue, while 84 per cent of children from the poorest households cannot read at all. With this frightening discovery, the Director of Dyslexia Nigeria, Mrs. Adrienne Tikolo told journalists at the opening of the centre in Lagos that parents usually think that the school is not good enough and teachers don’t know what to do with the children, adding that in finding help for children with dyslexia, she had to get the required training to be able to remediate it effectively. She said the centre has been training teachers so that they can remediate the difficulties of children under their care. “Dyslexia affects 20 per cent of every population. If you have about 180 million Nigerians, there are about 36

million dyslexics in Nigeria and quite a high number of that will be children. I taught it wise to train teachers to recognise dyslexia and they might be able to remediate dyslexia in schools where they will have the opportunity to make the difference. “The difference is usually made between the ages of 0 and 8. If you look at the percentage in schools of little children, you will say that about five per cent of little children have dyslexia. Some people say in every class, you will find about three to four dyslexics in the classroom. Every teacher will come across such children.� She described dyslexia as a special learning disability that affects the skills for reading and that it affects about 20 per cent of the population. “Dyslexia is with you for life, you can only manage it but you cannot run away from it once you are dyslexic. It is either you are dyslexic or you are not.� Tikolo, who disclosed that she has been running an elementary school for about 30 years, said she had come across several children with difficulties in reading and it had been challenging trying to get help for them. The director said her facility could train about 30 teachers and would also be embarking on an in-service training of teachers in their schools. “As you can see, the facility is not very massive, but at any point in time, we can train 30 teachers. We have different training facilities so what we can do is that we have in-service training where we go to schools to train teachers there; we also do onsite training, so we get a much bigger space and train a much bigger crowd of teachers. We are ready to train all teachers as long as they are ready to be trained.� Dyslexia training comes in different stages as she said, “the first thing is to let the teachers identify the dyslexics in the classroom so that we can screen the child for dyslexia, and we

begin to do something. “It is always easier to intervene than to remediate. So let us identify them early before it becomes a problem that we cannot handle, such that can make you lose children to low self-esteem, drug abuse because they have fallen out of school or that they can’t read and write or fill forms at 15 years or spell their names. We need to do something now to intervene before we lose those children we need to talk about teachers identifying signs of dyslexia early enough.� For a full dyslexia intervention, Tikolo said it takes years to train, as a full expert in level 7, adding that short and long courses sometimes take three months. Asked if there are plans to partner with any organisations to ensure that children with dyslexia are taken care of, the director said: “Currently, we are working in partnership with Dyslexic International and other centres in the UK that have dyslexia centres, and they are giving us all the support. Here in Dyslexia Nigeria, we undertake screening and assessment of the children to know if the child is truly dyslexic. “Once we do the screening, we can then design an intervention programme that will work for the child. Dyslexia is a continuum; it goes from mild to severe. Some children have mild dyslexia and some have more severe dyslexia. So once we screen them, we can do an intervention programme for them and remediate it.� On what makes the organisation unique, she said, “I choose to say that dyslexia is a word that 98 per cent of teachers have never even heard of in Nigeria; they don’t know what dyslexia is. I think this is the first organisation that is undertaking dyslexia training for teachers in Nigeria. I am aware

that there is a foundation somewhere but I am not sure what they do. “What makes us particularly unique is that we screen for dyslexia. Anyone can learn about it but you cannot screen a child for dyslexia unless you are an expert. I am an expert in dyslexia. What that means is that I can screen a child to tell you the kind of dyslexia the child has and I can design a programme that will work for the child.� Asked where she sees the centre in the next five years Tikolo said, “in the next five years, I expect that we will have more centres like this around the country. We will go from here to other parts of Lagos so that we can reach teachers. “For instance, for schools that are in Ajah, it might not be so easy to transport all the teachers even though we can do onsite training for all of them, we can have a situation where we get more teachers and we run dyslexia specialist programme for other organisations. We want to partner with Open University of the UK, run their courses and certify teachers to be specialist dyslexia teachers so that they can then help more teachers in their schools and train them continuously. “The whole idea is to reach as many dyslexics that we can find. Dyslexia is debilitating, however, it also comes with great strength. Some of the biggest brains in the world are dyslexic; Steve Jobs of Apple, Tommy Hilfiger, the owner of IBM; Charles Rankest Flint, the inventor of the telephone; Thomas Edison, the owner of Cisco, Leonard Bosack, among others. Dyslexia helped them to see the world in a different light. However, because our world is centred around reading and writing, some of them will fall through the cracks in school. We will lose our best brains to dyslexia if we do nothing about it.�

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EDUCATION

Maritime Varsity: Crack Deepens between Ijaws, Itsekiris over Institution’s Site Sylvester Idowu in Warri The crack between the Ijaws and Itsekiris over the site of the Maritime University in Gbaramatu Kingdom, Warri South-west Local Government Area of Delta State has deepened with the Omadino Community insisting that the land is Okerenghigo and not Okerenkoko as claimed by the Ijaws. Consequently, the members have vowed not to allow the Ijaws take over their land under the guise of the establishment of the university by the federal government. In a statement, the people of Omadino, an Itsekiri community commended the Attorney General of the Federation, Abubakar Malami for his memo to the National Assembly dated

October 17, 2017 advising the legislators to comply with a Supreme Court judgement that recognised the site of the university as Okerenghigo. In the statement signed by the President and Public Relations Officer of the Omadino Employment and Development Association (OEDA), Prince Metsese Diden and Quincy Onuwaje, the community reminded the National Assembly that it is part of the corporate existence of Nigeria which must be protected by law. “The Omadino Community lauds the Attorney General of the Federation, Abubarkar Malami over his memo to the National Assembly dated 17th October 2017 wherein he exercised what they described

as an exceptional courage to identify and speak the truth at a time when many high officials of the federal government would rather play to the gallery and mix politics with issues of justice in such a way as to ridicule the entire edifice of government in a supposedly civilized society. “Omadino Employment and Development Association (OEDA), which is the youth wing of Omadino Community thereby admonish the National Assembly not to forget that it is a part of the corporate existence of the Nigerian people, with statutory responsibility which extends beyond merely crafting the laws of our land, to applying same in all circumstances, as such, should not be seen to turn democracy on its head in an

attempt to jettison the valid judgments of the Supreme court of our land as regards the ownership and nomenclature of the location of the proposed Nigerian Maritime University, Okerenghigho, we are emphasizing that there is no place in Nigeria called Okerenkoko. “To do otherwise is to strip the entire architecture of the judiciary bare naked in the public; and this will not only inflict grave injury in the psyche of the common Nigerian whose last hope has always been the judiciary, but also rubbish the wigs of the entire legal icons of our great country.� OEDA noted that at a time when the country is grappling with criminality ranging from killer herdsmen to communal

crises all due to land grabbing syndrome, the National Assembly, especially the Senate has a duty to stick to the law and apply same in order not to give the impression that the Nigeria state is one of double standards, a lawless society where might is equated for right and where politics supersedes issues of justice. The statement added: “The beauty of any democracy is her judicial system and the National Assembly particularly the Nigerian Senate must contribute her own quota to beautifying Nigeria’s nascent democracy and ensure that it does not proceed in error on this matter as did the House of Assembly recently. “The Itsekiri people of Omadino re-emphasize that

the entire land space called Okerenghigho is an integral part of, and an extension of Omadino Community as traditionally and legally established and that we are ready to use the last saliva in our throat to re-echo it, the last sweat in our pores and the last strength in our muscles to defend it. They urged the government not to fall for cheap blackmail of their Ijaw customary tenants, while calling on the National Assembly to avoid the temptation of acting ultra vires, reminding it that it is not only statute barred, but also duty bound to honour and apply the laws of the nation, including the pronouncements of courts of competent jurisdiction in the exercise of its statutory functions.

NCCE Reviews NCE Standards to Improve Teacher Quality Emmanuel Ukumba in LaďŹ a The National Commission for Colleges of Education (NCCE) has commenced the review of the Nigerian Certificate in Education (NCE) standards to produce basic teachers that will meet the needs of the Nigeria child. Flagging off the NCE minimum standard review on Monday at the Nasarawa State College of Education, Akwanga, the Executive Secretary of the NCCE, Prof. Bappah-Aliyu Muhammadu charged the resource persons to examine the necessary changes that must be made in technical, vocational education and training in the NCE minimum standards. “My charge is that you should examine the necessary changes that must be made in Technical, Vocational Education and Training (TVET) in the NCE minimum standards that shall

engender the development of the nation,� He said. He also advised the resource persons for the NCE minimum standard review to specify how the curriculum for vocational education could be repackaged to improve the economic standing of learners and enhance their abilities to contribute meaningfully to the economic development of the country. “There is unparalleled public outcry about the poor quality of NCE teachers. Let us do justice since we could be part of the review and prescribe actions and modalities that can help better the situation for posterity. “May we look deeply into the needs and aspirations of the Nigerian people and design programmes which shall produce the basic education teachers that will meet the needs of the Nigeria child in their care now and tomorrow,� Muhammadu said.

Sokoto Boosts Enrolment of Girls in FGGC Tambuwal Worried by the apparent scarcity of Sokoto indigenes at the Federal Government Girls’ College (FGGC) Tambuwal, the state government has sponsored 115 girls to begin their academic pursuits in the school. The admission for the 115 girls was secured under the auspices of the newly-created Agency for Female Education. Though located in Sokoto State, reports indicate that the number of the state indigenes in the school is less than 30, a situation that warranted government to take drastic action to fill the gap. Speaking to reporters in Sokoto, the Special Adviser to the Governor on Girl Child Education, Dr. Amamatu Yusuf, said government acted when it was brought to its attention that there were few Sokoto indigenes in the school. “The Agency for Female Education liaised with the Ministry of Local Government to source for students from the

23 local government areas of the state. We organised an entrance examination for them and the best among them were offered admission. “To lessen the burden on parents, Governor Aminu Waziri Tambuwal gave approval that all necessary materials needed for fresh students in the college be provided for the new intakes. We therefore distributed mattresses, school bags, sandals, mosquito nets, blankets, school wears among others free of charge to support them,� she said. The adviser noted that all the girls were admitted into junior secondary one (JS1) and 2 and senior secondary one (SS1) and 2. “We will continue to monitor the progress of the girls. Even though this admission circle is over, next time, we will also ensure that anywhere there is deficit in the number of our girls in any college in the country, we will fill it up without hesitation.�

From left:The founder, City of Knowledge Academy (CKA), Ogun. State, Mrs. Mosun Belo-Olusoga with winners of the first edition of the ICT competition organised by the school in Ogun State... recently

After Protracted Crisis, Bingham Varsity Gets Acting VC Kuni Tyessi in Abuja The Evangelical Church of West Africa (ECWA) has appointed a former ViceChancellor of the Kaduna State University, Prof. Williams Qurix as the acting Vice-Chancellor of the Bingham University. Qurix, who has been given two years to serve, is expected to bring normalcy to the institution which had been in the news for reasons bordering on non-payment of salaries, sub-standard execution of projects, high-handedness by the management, among other anomalies. Investigation by THISDAY revealed that the former

Vice-Chancellor, Prof. Samuel Leonard Kursim-Fwa, who has a Living Faith background was placed on suspension following investigations carried out by a panel set up by ECWA, which accused him of defrauding the institution to the tune of N80 million and paying himself N3 million monthly, contrary to laid down procedures for salaries of vice-chancellors in public and private institutions. In a church announcement at the ECWA Goodnews, New Jerusalem in Aso, Nasarawa State by the pastor, Samaila Ahmed, the vice-chancellor was also accused of irregularities in his award of contracts which went mostly to family,

friends and cronies and also to companies of which he is a major shareholder. The embittered erstwhile vice-chancellor was said to have taken EWCA to the Brekete Family, a radio programme which brings to fore the injustices in the society with the aim of bringing lasting solution and reprieve to the aggrieved parties. Qurix, who was part of the panel, did say during its inauguration that “it is a privilege, even though we are not wise enough to undertake the assignment, we trust that God will see us through. If there was a time that Bingham requires our support, the time

is now that the church is facing challenges in accessing quality education.� Speaking to journalists after the inauguration ceremony, ECWA General Secretary, Rev. Yunusa Nmadu, said the idea of a visitation panel is statutory as it is in line with the laws guiding the establishment of universities in Nigeria to review the university governance at intervals. He described as temporal the economic challenges facing the institution, adding that the situation is not as precarious as being peddled in many quarters. “Whatever is happening in Bingham is temporal.�

Lagos Quality Assurance OfďŹ ce Develops Workers’ Leadership Skills Funmi Ogundare The Office of Education Quality Assurance, Ministry of Education recently held a leadership training for its heads of department and units, as well as coordinating and zonal directors in all education district in Lagos, to develop them professionally. Speaking at the programme held at the ST and T Regency International School, Ikeja, the Director General, Mrs. Ronke Soyombo enjoined the officers to be good managers and leaders

by delegating duties to their subordinates at the right time, adding that aside its functions of ensuring standardisation, monitoring and evaluation of schools, it also gets involved in accreditation. She also advised the officers to embrace technology and seek information as to how they can carry out their duties effectively. “Every leader must be thinking about digital technology, you need to leave your comfort zone and seek for information that will make you function well.

We also need to improve on the morale of staff and training and be seen as part of the system.� The Principal Consultant, Edumark, who was the facilitator, Mrs. Yinka Ogunde highlighted some of the attributes of a leader, saying that how well an organisation will be is determined by its level of leadership. “Leadership is all about influencing people and adding value to their lives and the more you are able to grow yourself, the more you are able to influence people.�

She said the test of a leader does not come cheap, as leaders have to work on themselves and raise their leadership styles. “As a leader, you have to set out to read, change and make consistent effort to have a vibrant team.� Ogunde pointed out that the greatest leadership challenge is leading oneself, adding, “if you don’t examine yourself, you will not know where you have problems. You should be able to connect properly with your team and that is why leading yourself is important.�

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BelemaOil Splashes N100m Scholarships on 374 Indigent Students Ernest Chinwo in Port Harcourt An indigenous oil company operating in Rivers State, BelemaOil Producing Limited, has awarded scholarships worth more than N100 million to 374 indigent students of its host communities. The scholarship, which was in three categories- postgraduate, undergraduate and post-primary- is part of the company’s corporate social responsibility policy, under the NNPC/BelemaOil Joint Venture (JV). Out of the 374 beneficiaries, 78 are postgraduate, 175 undergraduates and 121 post-primary school students. Speaking during the official handing over of the scholarship cheques to beneficiaries in Port Harcourt recently, the President of BelemaOil, Mr. Jack-Rich Tein Jr. said the scholarship is not a display of wealth, but recognition of the important role education plays in the lives of the young ones and the future of the host communities. “We are here not just to celebrate the success that has come to them, but to also honour the privilege given to us as a company to serve. And we recognise very importantly that if you joke with education then you are joking with the future and if you fail to grab these young ones who have the enthusiasm and that flair to pursue their academic dream you are limiting the unravelling

of future opportunities that they would have used to grow themselves as well as society. “And I believe very strongly that what we have come here to celebrate is not just a display of so much wealth but a display of interest; that believing in the young ones of today is unlocking the future of tomorrow and that is making the society a better place.� He called on the beneficiaries to see the scholarship as an opportunity to develop themselves and unlock their talents and not misuse it. Fielding questions from journalists shortly after the programme, Tein explained that the scholarship is worth over N100 million annually, pointing out that it is for students in Nigerian schools and overseas. “The total scholarship per annum is over N100 million. What we have given today is over N70 million cheques and we have other students in Cyprus, UK, America, Canada, Ghana, Malaysia, Philippines and in Nigerian schools. What we have done is not just to show wealth but so that they can in turn do the same for society when they come out.� He added that the company is also hoping to create about 12,000 jobs if its proposal with the presidency is approved, adding that the company’s model is aimed at making sure it supports the local communities where it operates. “The Belemaoil Model is all

about making sure that the local communities where we operate and competent Niger Deltans are given technical opportunities to showcase their competences such as alliance with technical companies that provide specialised types of jobs where they can partner with them and begin to provide those services. “We also make sure that we create strategic capacity development through training for the local communities. We have also awarded scholarships like you have seen today. “Basically as we speak now, we have our offshore floating and offloading terminal sailing to Nigeria. We are expecting to build some pipelines, we are also expecting to create some opportunities based on proposal we put forward to Mr. President and we believe very strongly that the president is a man that loves the Niger Delta region and he wants to see employment everywhere; he wants to see peace return very quickly; he wants to make sure that the operating communities are in harmony with the operators and with the federal government so that wealth creation can begin to improve. “So we have put forward a programme that we believe will create additional 12,000 employments which can turn around about 36,000 jobs. And we believe that as soon as he gives a nod to it the employment will begin to roll out,�

Tein stated. In his remarks, the Chairman of the occasion, Alabo Tonye Graham Douglas, lauded the initiative and charged the beneficiaries not to misuse the opportunity given to them. On his part, the Managing Director of National Petroleum Investment Management Services (NAPIMS), represented by Mrs. Tolu Adefuwa, restated the NNPC’s support for the scheme. “If you are able to educate the children at the young age you are rest assured that our future is sustained because it means we are raising the next leaders, we are raising the next generation. So we are encouraging them not just to be educated but take it to the next level.� Also speaking, the Executive Vice-President, Finance, Administration and Human Resources of BelemaOil, Mrs. Rosemary Asiegbu called on the beneficiaries to make good use of the opportunity and emulate the president in his vision. ]“Aside the joint venture with NNPC, he has joint venture with the communities. So the young ones, this is not just another event of giving you scholarship, we want you to emulate and see him as your mentor so that all his efforts will not be in vain.� The beneficiaries thanked the company for the opportunity, saying that it would ease their financial challenges.

Some beneďŹ ciaries of the scholarship scheme by BelemaOil Producing Limited

Enugu Tasks Old Students on Devt of Alma Mater Christopher Isiguzo in Enugu The Enugu State Commissioner for Education, Prof. Uche Eze has urged old students of secondary schools and tertiary institutions to assist government in the development of their alma mater. Eze, who made this known while inaugurating a threewing hostel renovated by the Abuja branch of Queen’s School Enugu Old Girls’ Association (QSEOGA), said this has become necessary so as to improve the education sector as government alone cannot do it. “Your gesture to your alma mater today is in line with the state government’s policy of improving education standard in the state. I want to thank the old girls’ association for what they have been doing in the school which is exceptional.

“His Excellency, Chief Ifeanyi Ugwuanyi believes so much in education and what you people are doing is in line with the state government’s agenda.� The commissioner called on other old students to emulate the gesture of Queens School’s old girls by giving back to the society that nurtured them. In his remarks, the Chairman of the Post Primary School Management Board (PPSMB), Mr. Nestor Ezema commended the old girls for renovating the hostels to modern standard. “We are proud of the old girls of this school and the principal for their efforts in improving the school. PPSMB promises to ensure that the hostels are taken care of because this is the only school that has no case of lesbianism, cultism and nonchalant acts,� he said. Also speaking, the former

President of Abuja Branch of the association, Chief Tina Ezeoke said the old girls were committed to bringing back the school to its past glory. “Today we stand before a renovated and refurbished Livingstone House now called Agbasiere House. It is so wonderful that today marks the actualisation of a little idea that matured into a big oak tree. “As you can see, we changed the roof, ceiling, box room, toilets, doors and windows to metal.� Meanwhile, the Enugu branch of the association also presented an undisclosed amount for the revitalisation of sports facilities in the school. Presenting the cheque to the school, the branch Secretary, Mrs. Chioma Ebue said it was part of its contributions towards the development of sports in the school which

had been abandoned. “We, the Enugu branch members will revitalise sports in the school to ensure it gets back to its limelight. It is disheartening that many secondary schools no longer hold inter-house sports where many talented athletes were picked.� Ebue appealed to the state government to reactivate school sports in the state. Responding, the Principal, Mrs. Ezigbo Nzeako thanked the association for its contributions to the development of the school, saying that old girls of this school have contributed immensely towards its development, including the donation of a school bus, computers and renovation of hostels and other buildings. Nzeakor promised that the school would protect the facilities and continue to uphold its glory.

Reminiscence

Ă™Ă?ĂžĂ?Ă˜ Ă‘Ă™ ĂŒĂ‹Ă?Ă• Ă—Ă?Ă—Ă™ĂœĂŁ Ă–Ă‹Ă˜Ă? Ă?Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă–ĂŁ Ă™Ă˜ ÒÙå Ă—ĂŁ Ă?Ă‹Ă?Ă’Ă?ĂœĂ? Ă“Ă‹ĂœĂŁ Ă?ÙÖĂ&#x;Ă—Ă˜ Ă?ĂžĂ‹ĂœĂžĂ?ĂŽ Ă“Ă˜ ÞÒĂ? ͎ͯ͡͡˪Ă?Ë ĂĄĂœĂ™ĂžĂ? Ă‹Ă? Ă‹ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă—Ă‹Ă“Ă˜Ă?ĂžĂœĂ?Ă‹Ă— ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ Ă‹Ăž Ă™ĂœĂ™Ă˜Ă‹ Ă?ÒÙÙÖ Ă“Ă?ĂžĂ™ĂœĂ“Ă‹ Ă?Ă–Ă‹Ă˜ĂŽ Ă‹Ă˜ĂŽ Þ˛ Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă?ÒÙÙÖ

Ă•Ă™ĂŁĂ“Ëœ Ă—Ă™Ă?ÞÖã Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ åÓÞÒÙĂ&#x;Ăž Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ ĂŽĂ“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă?Ë› ĂŁ Ă“Ă˜ĂžĂ?Ă˜ĂžĂ“Ă™Ă˜Ă? ÞÒĂ?Ă˜ Ă‹Ă˜ĂŽ Ă˜Ă™ĂĄ Ă‹ĂœĂ? ÞÙ Ă?Ă˜ĂžĂ?ĂœĂžĂ‹Ă“Ă˜ Ă‹Ă˜ĂŽ Ă“Ă˜Ă?Ă™ĂœĂ— Ă—ĂŁ Ă?ÙÖÖĂ?Ă‹Ă‘Ă&#x;Ă?Ă?Ëœ Ă™Ă? Ă™Ă&#x;Ăœ Ă˜Ă™ĂŒĂ–Ă? ĂžĂ?Ă‹Ă?Ă’Ă“Ă˜Ă‘ ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜ Ă‹Ă˜ĂŽ Ă Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? ÞÙ ÒÙÚĂ?Ă?Ă&#x;Ă–Ă–ĂŁ Ă?Ù̋ÙÚÞ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă“Ă˜ĂžĂ™ Ă—ĂŁ ĂœĂ?Ă‹ĂŽĂ?ĂœĂ?ÒÓÚ˛

ÑÙÞ Ă Ă?ĂœĂŁ Ă?Ă˜Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă“Ă˜Ă‘ Ă?Ă?Ă?ĂŽĂŒĂ‹Ă?Ă•Ă? Ă?ĂœĂ™Ă— Ă—ĂŁ Ă Ă?Ă˜ĂžĂ&#x;ĂœĂ?Ë› Ă˜Ă? ÞÒËÞ ĂšĂ‹ĂœĂžĂ“Ă?Ă&#x;Ă–Ă‹ĂœĂ–ĂŁ Ă?ĂžĂ‹Ă˜ĂŽĂ? Ă™Ă&#x;Ăž Ă“Ă˜ Ă—ĂŁ Ă—Ă?Ă—Ă™ĂœĂŁ ĂĄĂ‹Ă? Ă‹ Ă–Ă?ÞÞĂ?Ăœ Ă?ĂœĂ™Ă— Ă‹ Ă–Ă‹ĂŽĂŁ Ă“Ă˜ Ă‹Ă&#x;Ă?Ă’Ă“ ÞËÞĂ? ĂĄĂ’Ă™ ĂĄĂ‹Ă˜ĂžĂ?ĂŽ Ă—Ă? ÞÙ Ă?Ă&#x;Ă‘Ă‘Ă?Ă?Ăž ÞÓÚĂ? Ă?Ă™Ăœ Ă“Ă—ĂšĂœĂ™Ă Ă“Ă˜Ă‘ Ă’Ă?Ăœ Ă?ÚÙÕĂ?Ă˜ Ă‹Ă˜ĂŽ ĂĄĂœĂ“ĂžĂžĂ?Ă˜ Ă˜Ă‘Ă–Ă“Ă?Ă’Ë› Ă—Ă&#x;Ă?Ă?ĂŽ ÞÒĂ?Ă˜ Ă‹Ă? Ă—ĂŁ Ă?Ă™Ă?Ă&#x;Ă? Ă“Ă˜ ĂžĂ?Ă‹Ă?Ă’Ă“Ă˜Ă‘ ĂĄĂ‹Ă? Ă?Ă’Ă‹Ă˜Ă‘Ă“Ă˜Ă‘Ë› ĂĄĂ‹Ă˜ĂžĂ?ĂŽ Ă?Ă™ĂœĂ—Ă‹Ă– Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? Ă™Ă? ĂĄĂ’ĂŁ Ă?Ù×Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ĂĄĂ™Ă&#x;Ă–ĂŽ ÚÙĂ?Ă?Ă“ĂŒĂ–ĂŁ Ă˜Ă™Ăž Ă–Ă?Ă‹ĂœĂ˜ ÞÒĂ? ĂĄĂ‹ĂŁ ĂĄĂ? ĂĄĂ‹Ă˜ĂžĂ?ĂŽ ÞÒĂ?Ă— ÞÙ Ă˜Ă™ ×ËÞÞĂ?Ăœ ÒÙå Ă’Ă‹ĂœĂŽ ĂĄĂ? ĂžĂœĂ“Ă?ĂŽË› ĂĄĂ‹Ă˜ĂžĂ?ĂŽ ÞÙ Ă•Ă˜Ă™ĂĄ ĂĄĂ’ĂŁ Ă?Ù×Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă‹Ăž ÞÒĂ? ĂŒĂ™ĂžĂžĂ™Ă— Ă™Ă? ÞÒĂ? Ă?Ă–Ă‹Ă?Ă? ĂĄĂ?ĂœĂ? Ă˜Ă™Ăž ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ“Ă˜Ă‘ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ ĂŽĂ?Ă?ÚÓÞĂ? ĂšĂ‹Ă“Ă˜Ă?ĂžĂ‹Ă•Ă“Ă˜Ă‘ Ă?Ă?Ă?Ă™ĂœĂžĂ? ĂŒĂŁ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? ÞÙ ĂžĂ?Ă‹Ă?Ă’ ÞÒĂ?Ă—Ë›

ĂŽĂ‹ĂŒĂŒĂ–Ă?ĂŽ Ă“Ă˜ĂžĂ™ ĂŽĂŁĂ?Ă–Ă?âÓ˲ Ă’Ă“Ă? ĂšĂœĂ™Ă Ă“ĂŽĂ?ĂŽ Ă—Ă? åÓÞÒ Ă?Ù×Ă? Ă‹Ă˜Ă?ĂĄĂ?ĂœĂ? Ă‹Ă˜ĂŽ Ă—Ă™ĂœĂ? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜ĂžĂ–ĂŁ ÞÙÙÖĂ? Ă?Ă™Ăœ ĂžĂ?Ă‹Ă?Ă’Ă“Ă˜Ă‘ Ă?ĂšĂ?Ě‹ Ă?Ă“Ă?Ă“Ă? Ă‹Ă?ĂšĂ?Ă?ĂžĂ? Ă™Ă? Ă˜Ă‘Ă–Ă“Ă?Ă’ Ă‹Ă˜ĂŽ ×ËÞÒĂ?×ËÞÓĂ?Ă?Ë› ĂŁ Ă’Ă&#x;Ă˜Ă‘Ă?Ăœ ĂœĂ?Ă—Ă‹Ă“Ă˜Ă?ĂŽË› ĂĄĂ‹Ă˜ĂžĂ?ĂŽ Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? ÞÙ Ă?Ă˜Ă‹ĂŒĂ–Ă? Ă—Ă? ĂžĂ?Ă‹Ă?Ă’ Ă‹Ă˜ĂŽ Ă?Ă&#x;ĂšĂšĂ™ĂœĂž Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ åÓÞÒ Ă—Ă™ĂœĂ? Ă Ă“Ă?Ă“ĂŒĂ–Ă? Ă&#x;Ă?Ă&#x;Ă‹Ă–Ă–ĂŁ Ă?Ă™Ă˜Ă‘Ă?Ă˜Ă“ĂžĂ‹Ă– ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă‹Ă˜ĂŽ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ‹Ă– Ă?Ă™Ă˜ĂŽĂ“ĂžĂ“Ă™Ă˜Ă?Ë›

Ă˜ Ă?Ă™ĂœĂ—Ă‹Ă– Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ ĂĄĂ? Ă?Ă™Ă˜Ă?Ă?Ă“Ă™Ă&#x;Ă?Ă–ĂŁ Ă‹Ă? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? Ă?ĂœĂ?Ă‹ĂžĂ? ÞÒĂ? Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜Ăž Ă?Ă™Ăœ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘Ë› ÓÞÒÙĂ&#x;Ăž Ă?Ă›Ă&#x;Ă“Ă Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ ĂĄĂ? Ă’Ă‹Ă Ă? Ă?âÚĂ?Ă?ĂžĂ?ĂŽ Ă™Ă&#x;ĂžĂ?Ù×Ă?Ă?Ëœ Ă‹Ă˜ĂŽ ĂĄĂ? Ă‘Ă‹ĂœĂ˜Ă?Ăœ ĂœĂ?Ă?Ă™Ă&#x;ĂœĂ?Ă?Ă? ÞÙ Ă‹Ă?Ă’Ă“Ă?Ă Ă? ÞÒÓĂ?Ë› Ă? Ă?Ă˜Ă‘Ă‹Ă‘Ă? Ă“Ă˜ Ă‹ ĂšĂ–Ă‹Ă˜Ă˜Ă“Ă˜Ă‘ ĂšĂœĂ™Ă?Ă?Ă?Ă? Ă‹Ă˜ĂŽ ĂšĂ–Ă‹Ă˜ Ă‹ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘ĂŁ Ă?Ă™Ăœ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ë› Ăž ÞÒĂ? Ă?Ă˜ĂŽ Ă™Ă? ÞÒĂ? ĂžĂ?Ă‹Ă?Ă’Ă“Ă˜Ă‘ Ă?Ă?Ă?Ă?Ă“Ă™Ă˜ ĂĄĂ? Ă”Ă&#x;ĂŽĂ‘Ă? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă? ĂŒĂŁ Ă?Ă’Ă‹Ă˜Ă‘Ă?Ă? Ă“Ă˜ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœË›

Ă˜ĂŽĂ?Ă?ĂŽËœ ÞÒÓĂ? Ă?Ă’Ă‹Ă˜Ă‘Ă? Ă—Ă‹ĂŁ Ă’Ă‹Ă Ă? Ă™Ă?Ă?Ă&#x;ĂœĂœĂ?ĂŽ Ă‹Ă? Ă‹ ĂœĂ?Ă?Ă&#x;Ă–Ăž Ă™Ă? Ă?Ù×Ă? Ă?Ă™Ă‘Ă˜Ă“ĂžĂ“Ă Ă?ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă˜Ă‘ Ă™Ă? Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă™Ăœ ĂŒĂŁ Ă?Ă™ĂœĂ—Ă“Ă˜Ă‘ Ă?Ù×Ă? Ă‹Ă?Ă?Ă™Ă?Ă“Ă‹ĂžĂ“Ă™Ă˜Ă?Ëœ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’Ă?âÚĂ?ĂœĂ“Ă?Ă˜ĂžĂ“Ă‹Ă– Ă™Ăœ Ă“Ă˜Ă?Ă“Ă‘Ă’ĂžĂ?Ă&#x;Ă– Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă?ĂžĂ? Ă™Ăœ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă‹ Ă?Ă™Ă—ĂŒĂ“Ă˜Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă? Ă‹Ă–Ă–Ă?Ă™ĂœĂ—Ă? Ă™Ă? Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘Ë› ÖÙÞ Ă™Ă? Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ ÒÙåĂ?Ă Ă?Ăœ ÞËÕĂ?Ă? ÚÖËĂ?Ă? Ă™Ă&#x;ĂžĂ?Ă“ĂŽĂ? Ă?Ă™ĂœĂ—Ă‹Ă– Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜Ë› Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă?Ă‹Ă˜ ÞËÕĂ? ÚÖËĂ?Ă? Ă‹Ăž Ă‹Ă˜ĂŁ ÞÓ×Ă? Ă™Ăœ Ă‹Ă˜ĂŁĚ‹ ĂĄĂ’Ă?ĂœĂ?Ëž Ă—Ă‹ĂŁ ĂŒĂ? Ă™ĂŒĂ?Ă?ĂœĂ Ă‹ĂŒĂ–Ă? Ă™Ăœ ÙÞÒĂ?ĂœĂĄĂ“Ă?Ă?Ëž Ă—Ă‹ĂŁ Ă™Ăœ Ă—Ă‹ĂŁ Ă˜Ă™Ăž ĂŒĂ? ĂœĂ?Ă‹ĂŽĂ“Ă–ĂŁ Ă—Ă?Ă‹Ă?Ă&#x;ĂœĂ‹ĂŒĂ–Ă?Ë›

Ă’Ă‹Ă Ă? Ă?Ă™Ă&#x;Ă˜ĂŽ ÞÒÓĂ? ÞÙ ĂŒĂ? ĂœĂ?Ă‹ĂŽĂ“Ă–ĂŁ ĂžĂœĂ&#x;Ă? Ă“Ă˜ Ă—ĂŁ ĂšĂœĂ?Ă?Ă?Ă˜Ăž ĂšĂœĂ?Ě‹ Ă™Ă?Ă?Ă&#x;ĂšĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă? Ă‹ Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă“Ă?Ăž ĂšĂœĂ‹Ă?ĂžĂ“ĂžĂ“Ă™Ă˜Ă?ĂœË› ĂĄĂ™ĂœĂ• ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă‹ Ă—Ă&#x;ÖÞÓÎÓĂ?Ă?Ă“ĂšĂ–Ă“Ă˜Ă‹ĂœĂŁ ĂžĂ?Ă‹Ă— Ă™Ă? ÞÒĂ?ĂœĂ‹ĂšĂ“Ă?ĂžĂ?Ëœ Ă“Ă˜ Ă‹ Ă?Ă&#x;ĂœĂžĂ’Ă?Ăœ Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ Ă?ÙÖÖĂ?Ă‘Ă? Ă?Ă™Ăœ ĂšĂ?ÙÚÖĂ? åÓÞÒ ĂšĂœĂ™Ă?Ă™Ă&#x;Ă˜ĂŽ ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă‹Ă˜ĂŽ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ ĂŽĂ“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă?Ë› Ă&#x;Ăœ ĂĄĂ™ĂœĂ• Ă“Ă? ÞÙ Ă?Ă˜Ă‹ĂŒĂ–Ă? Ă‹Ă˜ĂŽ Ă?×ÚÙåĂ?Ăœ ĂšĂ?ÙÚÖĂ? åÓÞÒ ĂšĂœĂ™Ă?Ă™Ă&#x;Ă˜ĂŽ ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă‹Ă˜ĂŽ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ ĂŽĂ“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? Ă‹Ă?Ă’Ă“Ă?Ă Ă? ÞÒĂ?Ă“Ăœ Ă‘ĂœĂ?Ă‹ĂžĂ?Ă?Ăž ÚÙÞĂ?Ă˜ĂžĂ“Ă‹Ă–Ă?Ë› ÖÖÙå Ă—Ă? ÞÙ Ă“Ă˜ĂžĂœĂ™ĂŽĂ&#x;Ă?Ă? ÞÙ ĂŁĂ™Ă&#x; Ă™Ă˜Ă? Ă™Ă? ÞÒĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă“Ă˜ ÞÒĂ? Ă?ÙÖÖĂ?Ă‘Ă? ĂĄĂ’Ă?ĂœĂ? ĂšĂœĂ‹Ă?ÞÓĂ?Ă? ĂŽĂ“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁË› Ă?Ă‹ Ă“Ă? ͯ͡ ĂŁĂ?Ă‹ĂœĂ? ÙÖÎ åÓÞÒ Ă‹ ÞËÞĂ?Ă—Ă?Ă˜Ăž Ă™Ă? Ă?Ă Ă?ĂœĂ? Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? Ă‹Ă˜ĂŽ ÚÓÖĂ?ĂšĂ?ĂŁË› Ă? Ă“Ă? Ă Ă“Ă?Ă&#x;Ă‹Ă–Ă–ĂŁ Ă“Ă—ĂšĂ‹Ă“ĂœĂ?ĂŽ ĂŒĂ?Ă“Ă˜Ă‘ ĂŒĂ–Ă“Ă˜ĂŽ Ă“Ă˜ Ă’Ă“Ă? Ă–Ă?Ă?Ăž Ă?ĂŁĂ?Ë› Ă? Ă’Ă‹Ă? Ă‹ Ă–Ă?Ă?Þ̋Ă?Ă“ĂŽĂ?ĂŽ Ă’Ă?×ÓÚÖĂ?Ă‘Ă“Ă‹ Ă‹Ă˜ĂŽ ÞÒĂ?ĂœĂ?Ă?Ă™ĂœĂ? Ă“Ă? Ă—Ă™Ă?ÞÖã ĂšĂ‹ĂœĂ‹Ă–Ă“Ă?Ă?ĂŽ Ă“Ă˜ ÞÒĂ? Ă–Ă?Ă?Ăž Ă?Ă“ĂŽĂ? Ă™Ă? Ă’Ă“Ă? ĂŒĂ™ĂŽĂŁË› Ă? Ă“Ă? ĂĄĂ’Ă?Ă?Ă–Ă?ĂŽ Ă‹ĂŒĂ™Ă&#x;Ăž Ă“Ă˜ Ă’Ă“Ă? ĂĄĂ’Ă?Ă?Ă–Ă?Ă’Ă‹Ă“Ăœ ĂŒĂ&#x;Ăž Ă?Ă‹Ă˜ ĂĄĂ?Ă“Ă‘Ă’Ăž ĂŒĂ?Ă‹Ăœ ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ ĂžĂœĂ‹Ă˜Ă?Ă?Ă?ĂœĂ? åÓÞÒ ÞÒĂ? Ă’Ă?Ă–Ăš Ă™Ă? ÞåÙ Ă?ÞËĂ?Ă?Ë› Ă?Ă‹ ĂĄĂ‹Ă? Ă˜Ă™Ăž ĂŒĂ™ĂœĂ˜ åÓÞÒ Ă‹ Ă?Ă™Ă˜ĂŽĂ“ĂžĂ“Ă™Ă˜ ĂœĂ?Ă?Ă&#x;Ă–ĂžĂ“Ă˜Ă‘ Ă“Ă˜ Ă’Ă“Ă? Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ ĂŽĂ“Ă?Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁË› Ă? Ă?Ă&#x;Ă?Ă?Ă?ĂœĂ?ĂŽ Ă‹ ĂŒĂœĂ‹Ă“Ă˜ Ă’Ă‹Ă?Ă—Ă™ĂœĂœĂ’Ă‹Ă‘Ă? Ă‹Ăž ĂžĂ’ĂœĂ?Ă? ĂĄĂ?Ă?Ă•Ă? ÙÖÎ ĂĄĂ’Ă“Ă?Ă’ Ă–Ă?Ă?Ăž Ă’Ă“Ă— åÓÞÒ Ă‹ Ă?Ă?Ă Ă?ĂœĂ? ĂŒĂœĂ‹Ă“Ă˜ ĂŽĂ‹Ă—Ă‹Ă‘Ă?Ë› Ă?Ă‹ ĂŽĂ“Ă?ÚÖËãĂ? Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ Ă˜Ă™ĂĄ Ă‹Ă˜ĂŽ Ă‹Ă‘Ă‹Ă“Ă˜ Ă?Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă–ĂŁ ĂĄĂ’Ă?Ă˜Ă?Ă Ă?Ăœ Ă’Ă“Ă? ĂœĂ™Ă&#x;ĂžĂ“Ă˜Ă? Ă’Ă‹Ă? ĂŒĂ?Ă?Ă˜ Ă‹Ă–ĂžĂ?ĂœĂ?ĂŽË› Ăž Ă?Ă&#x;Ă?Ă’ ÞÓ×Ă?Ă? Ă’Ă? Ă–Ă?ĂžĂ? Ă™Ă&#x;Ăž Ă’Ă“Ă? Ă?ĂœĂ&#x;Ă?ĂžĂœĂ‹ĂžĂ“Ă™Ă˜ Ă“Ă˜ Ă?Ă?Ă Ă?ĂœĂ? Ă?Ă?Ă–Ă?Ě‹Ă’Ă‹ĂœĂ—Ë› Ă’Ă“Ă? Ă“Ă? ÒÙåĂ?Ă Ă?Ăœ ĂŒĂ?Ă“Ă˜Ă‘ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ă–ĂŁ Ă—Ă‹Ă˜Ă‹Ă‘Ă?ĂŽ Ă“Ă˜ Ă?ÙÖÖĂ?Ă‘Ă? ĂŒĂŁ Ă?ĂžĂœĂ&#x;Ă?ĂžĂ&#x;ĂœĂ?ĂŽ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ ĂœĂ™Ă&#x;ĂžĂ“Ă˜Ă?Ë› Ă?Ă‹ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă?Ă? Ă‹Ă˜ Ă‹Ă Ă?ĂœĂ‹Ă‘Ă? Ă™Ă? Ă?Óâ Ă?ÚÓÖĂ?ÚÞÓĂ? Ă?Ă?ÓäĂ&#x;ĂœĂ?Ă? ĂĄĂ?Ă?Ă•Ă–ĂŁË› Ă’Ă?Ă?Ă? Ă&#x;Ă?Ă&#x;Ă‹Ă–Ă–ĂŁ ĂœĂ?Ă›Ă&#x;Ă“ĂœĂ? ÞÒĂ? Ă‹ĂŽĂ—Ă“Ă˜Ă“Ă?ĂžĂœĂ‹ĂžĂ“Ă™Ă˜ Ă™Ă? Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă‹Ă˜ĂžĂ“Ě‹Ă?Ă™Ă˜Ă Ă&#x;Ă–Ă?Ă‹Ă˜Ăž Ă—Ă?ĂŽĂ“Ă?Ă‹ĂžĂ“Ă™Ă˜Ë› Ă?Ă‹ËŞĂ? Ă?Ă?Ă–Ă?Ě‹Ă’Ă?Ă–ĂšËœ Ă?Ă&#x;ĂœĂ Ă“Ă Ă‹Ă– Ă?Ă•Ă“Ă–Ă–Ă? Ă“Ă? ĂŁĂ™Ă&#x; Ă–Ă“Ă•Ă?Ëœ Ă‹ĂœĂ? ĂŒĂ?Ă“Ă˜Ă‘ ĂœĂ?ĂžĂ‹Ă“Ă˜Ă?ĂŽ Ă“Ă˜ Ă?ÙÖÖĂ?Ă‘Ă?Ë› Ă™Ăœ Ă?âË×ÚÖĂ? Ă’Ă? Ă?Ă?Ă?ĂŽĂ? Ă’Ă“Ă—Ă?Ă?Ă–Ă? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ă–ĂŁ åÓÞÒ ÞÒĂ? Ă‹Ă“ĂŽ Ă™Ă? ËÎËÚÞÓà Ă? Ă&#x;ĂžĂ?Ă˜Ă?Ă“Ă–Ă?Ë› Ă?Ă‹ Ă&#x;Ă?Ă?Ă? Ă‹ ĂœĂ‹Ă˜Ă‘Ă? Ă™Ă? Ă?Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ ×ÙÎËÖÓ̋ ÞÓĂ?Ă? ÞÙ Ă?Ă˘ĂšĂœĂ?Ă?Ă? Ă’Ă“Ă—Ă?Ă?Ă–Ă?Ë› Ă? Ă—Ă‹Ă•Ă?Ă? Ă Ă™Ă?Ă‹Ă–Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? ÞÙ Ă‘Ă‹Ă“Ă˜ ËÞÞĂ?Ă˜ĂžĂ“Ă™Ă˜ Ă“Ă˜ Ă™ĂœĂŽĂ?Ăœ ÞÙ Ă?Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ?Ë› Ă? Ă‹Ă–Ă?Ă™ Ă?Ă™Ă—ĂŒĂ“Ă˜Ă?Ă? Ă Ă™Ă?Ă‹Ă–Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ åÓÞÒ Ă‘Ă?Ă?ĂžĂ&#x;ĂœĂ?Ă?Ë› Ă? ĂŽĂ™Ă?Ă? Ă‹ ĂšĂ‹ĂœĂžĂ“Ă?Ă&#x;Ă–Ă‹Ăœ Ă?ĂŁĂ?Ě‹ ÞåÓÞĂ?Ă’Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă—Ă™Ă&#x;ÞÒ ×Ùà Ă?Ă—Ă?Ă˜Ăž ÞÒËÞ Ă?Ă˘ĂšĂœĂ?Ă?Ă?Ă?Ă? Ă’Ă“Ă? ËŠ Ă?Ă?ËŞ Ă‹Ă˜ĂŽ ËŠ Ù˪˛ Ă?Ă‹ Ă“Ă? Ă‹ĂŒĂ–Ă? ÞÙ Ă&#x;Ă?Ă? Ă?Ù×Ă? ĂŒĂ‹Ă?Ă“Ă? Ă—Ă‹Ă•Ă‹ĂžĂ™Ă˜ Ă?Ă“Ă‘Ă˜Ă? ÞÙ Ă?Ă&#x;ĂšĂšĂ™ĂœĂž Ă’Ă“Ă? Ă Ă™Ă?Ă‹Ă–Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă&#x;Ă?Ă’ Ă‹Ă? Ă?Ă“Ă‘Ă˜Ă? Ă?Ă™Ăœ ÞÒĂ? ÞÙÓÖĂ?Ăž Ă™Ăœ Ă?Ă™Ăœ Ă‹ ĂŽĂœĂ“Ă˜Ă•Ë› Ă˜ ĂžĂ?ĂœĂ—Ă? Ă™Ă? Ă?Ă™Ă—ĂšĂœĂ?Ă’Ă?Ă˜Ă?Ă“Ă™Ă˜Ëœ Ă?Ă‹ Ă˜Ă?Ă?ĂŽĂ? Ă’Ă“Ă? ËÞÞĂ?Ă˜ĂžĂ“Ă™Ă˜ Ă‘Ă‹Ă“Ă˜Ă?ĂŽ ĂŒĂ?Ă?Ă™ĂœĂ? Ă‘Ă“Ă Ă“Ă˜Ă‘ Ă’Ă“Ă— Ă‹Ă˜ Ă“Ă˜Ă?ĂžĂœĂ&#x;Ă?ĂžĂ“Ă™Ă˜Ë› Ă“Ă? Ă?Ă™Ă—ĂšĂœĂ?Ă’Ă?Ă˜Ă?Ă“Ă™Ă˜ Ă“Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ ĂŒĂŁ ÞÒĂ? Ă&#x;Ă?Ă? Ă™Ă? Ă‘Ă?Ă?ĂžĂ&#x;ĂœĂ? Ă?Ă&#x;Ă?Ă’ Ă‹Ă? Ă?ĂŁĂ?Ě‹ĂšĂ™Ă“Ă˜ĂžĂ“Ă˜Ă‘ Ă‹Ăž ĂĄĂ’Ă‹Ăž ĂŁĂ™Ă&#x; Ă‹ĂœĂ? ĂžĂ‹Ă–Ă•Ă“Ă˜Ă‘ Ă‹ĂŒĂ™Ă&#x;Þ˛ Ă?Ă‹ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ? Ă’Ă“Ă? ĂŽĂ‹Ă“Ă–ĂŁ ĂœĂ™Ă&#x;ĂžĂ“Ă˜Ă? åÓÞÒ ÞÒĂ? Ă’Ă?Ă–Ăš Ă™Ă? Ă?Ă&#x;Ă?Ă? Ă–Ă“Ă•Ă? Ă‹Ă?ÞÓà ÓÞã ĂœĂ?Ă–Ă‹ĂžĂ?ĂŽ Ă™ĂŒĂ”Ă?Ă?ĂžĂ?Ë› Ă? Ă“Ă? Ă?Ă˜Ă‹ĂŒĂ–Ă?ĂŽ ÞÙ Ă?ÙÚĂ? åÓÞÒ Ă?Ă’Ă‹Ă˜Ă‘Ă? ĂŒĂŁ ĂŒĂ?Ă“Ă˜Ă‘ ÞÙÖÎ Ă‹ĂŒĂ™Ă&#x;Ăž Ă“ĂžËœ ĂœĂ?Ă—Ă“Ă˜ĂŽĂ?ĂŽ Ă™Ă? Ă“Ă—ĂšĂ?Ă˜ĂŽĂ“Ă˜Ă‘ Ă?Ă’Ă‹Ă˜Ă‘Ă? Ă‹Ă˜ĂŽ ĂŒĂ?Ă“Ă˜Ă‘ ĂšĂœĂ?ĂšĂ‹ĂœĂ?ĂŽ Ă?Ă™Ăœ ÓÞ˛ Ă?Ă?Ă?Ă˜ĂžĂ“Ă‹Ă–Ă–ĂŁ Ă?Ă’Ă‹Ă˜Ă‘Ă? Ă“Ă? Ă“Ă˜ĂžĂœĂ™ĂŽĂ&#x;Ă?Ă?ĂŽ Ă‘ĂœĂ‹ĂŽĂ&#x;Ă‹Ă–Ă–ĂŁËœ Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ Ă?Ă–Ă?Ă‹ĂœĂ–ĂŁ Ă‹Ă˜ĂŽ Ă‘Ă“Ă Ă?Ă˜ ÞÓ×Ă? ÞÙ ĂŒĂ? ĂĄĂ™ĂœĂ•Ă?ĂŽ Ă™Ă&#x;Ăž ĂŒĂŁ Ă?Ă‹Ë› Ùå Ă™Ă?ĂžĂ?Ă˜ ĂŽĂ™ ĂĄĂ? Ă‹Ă? ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? Ă–Ă?Ă‹Ă Ă? ĂŒĂ?Ă’Ă“Ă˜ĂŽ Ă™Ă&#x;Ăœ ËŠĂ?ÖÙå Ă–Ă?Ă‹ĂœĂ˜Ă?ĂœĂ?ËŞ Ă“Ă˜ Ă?Ă‹Ă Ă™Ă&#x;Ăœ Ă™Ă? ÞÒĂ? ËŠĂ’Ă“Ă‘Ă’ Ă?Ă–Ă“Ă?ĂœĂ?ËŞËŁ Ă™ ĂĄĂ? Ă‹Ă?ĂžĂ&#x;Ă‹Ă–Ă–ĂŁ Ă’Ă‹Ă Ă? Ă‹ ĂœĂ“Ă‘Ă’Ăž ÞÙ ĂšĂœĂ™Ă˜Ă™Ă&#x;Ă˜Ă?Ă? Ă‹Ă˜ĂŁĂ™Ă˜Ă? Ă‹Ă? ËŠĂ?ÖÙå Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ËŞËŁ Ě‹ Omoru writes from the UK

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T H I S D AY Ëž Ëœ ÍąÍŻËœ Í°ÍŽÍŻÍś

Robust Entrepreneurship Training for Secondary School Students: Panacea for High Level of Unemployment among Youths Bola Obe The word entrepreneur is from the French word entreprendre, which implies “to undertake�. Therefore an entrepreneur is an initiator, a formulator, a starter or a groundbreaker. He sees an opportunity, a gap or goldmine and after considering his strength, weaknesses, opportunities and the threats around him, he carefully takes a guarded risk, bringing in all the human and material resources available to him in order to achieve realistic goals he set for himself. In her paper on Developing Entrepreneurial Skills in Secondary School Students, Dr. Mrs. Nneka Uka stated unequivocally that unemployment remains the most critical problem facing every nation today, including Nigeria. She further stated that Nigeria occupied a prime position as the second largest economy in Africa with a population of more than 150 million people and blessed with enormous natural resources. But the spate of unemployment which is estimated to be over 38 per cent, according to World Bank statistics, with secondary school graduates mostly found among the unemployed rural inhabitants does not justify the human and material strength of the most populous black nation in the world. According to Dr. Nuru Yakubu, the Executive Director of National Board for Technical Education, “in 2006, government directed that entrepreneurship education be incorporated in all programmes offered in our tertiary institutions of learning as a mandatory course. Similarly, the National Council on Education at its 53rd meeting held in Calabar same year, also directed the higher education supervisory agencies to commence the production of appropriate training documents for the effective and efficient delivery of the programme. It was believed that this will engender the production of a crop of entrepreneurs with appropriate attitude and skills which will spur them on the path of creativity, innovation and enterprise thereby enable them to be job creators rather than job seekers and hence address the problem of graduate unemployment in the country and create job opportunities for the teeming Nigerian youths.� After the successful integration of the entrepreneurship training to the curricula of higher institutions, the Nigerian Educational Research and Development Council (NERDC) developed 34 subjects on compulsory trade/entrepreneurship for inclusion

Minister of Education, Mallam Adamu Adamu

in the senior secondary school curriculum. The Executive Secretary of the council, Prof. Ismail Junaidu said in an interview with the News Agency of Nigeria (NAN) in Abuja on October 25, 2016 that the subjects would be compulsory for the students in that category. According to Junaidu, the subjects are meant to empower the youths upon completing their education. He further reiterated that “the whole structure of the senior secondary school was changed - English, Mathematics, Civic Education and one trade subject, that is, either hair plaiting, or GSM repairs or fishing are compulsory. This was all done so as to make Nigerians to be job creators rather than job seekers. The main objectives of vocational education according to the National Policy of Education (2013) are: to prepare the learner for entry to employment and advancement in his chosen career; meet the manpower needs of the society; increase the options available to each student; serve as a motivating force of learning; and, enable the learner to wisely select a career. In order to achieve these objectives, the NERDC and

FCET Umunze Council Appoints Acting Provost The former Dean, School of Education, Federal College of Education (Technical), Umunze, Anambra State, Dr. Cecilia Nonye Ibekwe has been appointed the new acting Provost of the college. She took over the leadership of the college from Professor Josephat Ogbuagu, whose tenure elapsed on Tuesday, January 16, 2018. Ibekwe, who became a chief lecturer in 2008, was appointed by the sixth Governing Council of the College, headed by Barrister Ibrahim Abdu Radda. Her work profile revealed that she joined the college on March 15, 1991 as a lecturer III and rose through the ranks to become a chief lecturer in 2008, an equivalent of associate professor in a university setting. Radda stated that Ibekwe was appointed by the council to provide the strong leadership

needed in the college, pending the appointment of the next substantive provost. He said members of the council remain dedicated to the task of making the college a reference point among other tertiary institutions in the country. Investigations revealed that during her 26 years of service in the college, Ibekwe had served as the HOD, Educational Foundation, Dean, School of Sandwich and TTC, Coordinator Teaching Practice and Dean, School of Education and General Studies. A thorough-bred scholar, she bagged a B.A (ED) Religious Studies from the Bendel State University, Abraka Campus (1983-1987) and M.ED (Philosophy of Education) from the University of Ibadan. She further obtained her doctorate degree from the University of Port-Harcourt (2010-2014) in

Philosophy of Education. Reputed for her unassuming lifestyle and dedication to academic excellence, members of the college academic board lauded her appointment as a step in the right direction. In her first meeting with members of the academic board, Ibekwe urged the academic staff of the college never to relent in their good work and assured them that her leadership would continue to initiate and execute policies that would move the institution forward. Some of the academic staff, who spoke to journalists after th meeting promised to accord the acting provost the required support and described her appointment as a true recognition of honesty and hard work. Ibekwe knows the college terrain so well, having served in various college committees and ad-hoc committees.

the United National Industrial Development Organisation (UNIDO) have launched entrepreneurship curriculum project aimed at ensuring that senior secondary school students acquire functional trade and entrepreneurship skills. Taking a holistic view of the philosophy behind entrepreneurship in the Nigerian curriculum, the programme is designed to help in: knowing techniques for generating business ideas as well as for identifying and assessing business opportunities; knowing how to evaluate a business idea for developing an enterprise; knowing methods of product/service selection; understanding the process and procedure for starting an enterprise; knowing the operational techniques in managing an enterprise; understanding the various existing industries and support agencies in Nigeria; appreciating the role of commercial and development banks in small and medium scale industries development and understanding the role of personal savings and portfolio investment in national economic development.

In order to align with the national philosophy of vocational education and inculcating in our college students the entrepreneurial mindset, Platform College, a coeducational school based in Ipeja Ayobo area of Lagos, had designed a robust entrepreneurship training which transcends just skills acquisition, but also financial intelligence, basic banking skills, marketing skill and small business management. Every student in the college opens a savings account in his bank of choice. This account is simply dedicated for training purpose and would not be used for any other purpose. The parent of the child is required to loan his child N15,000 to start up his small scale business. This money is to be returned by the child to the parent at the end of the term or at most at the end of the session. The children are put through basic training in different production of household chemical products such as bar soap, liquid soap, Dettol, Izal and so on. They are also taught how to make small chops, snacks, and other consumables. They produce these products themselves, brand them and package them in an attractive way. They do the production themselves from start to finish. They are taught how to market these products in their neighbourhood, in their religious centres and also to their relatives and family members. All the money realised from the sales are saved in their respective accounts. This account keeps on growing as they keep on selling and saving. They do at least two or three major productions every term. They are required to present their statement of account at the end of every term for assessment in the school. The initial capital loaned from their parent is to be returned while the profits will be ploughed into the business. The entrepreneurship department of the college is mandated to monitor the growth of the business and the bank account. Under no circumstance is a child permitted to spend from the account until he graduates from the college. This is the Platform Adapted Model for practical entrepreneurship training in secondary school. This model has been working with tremendous growth in the accounts of the children and high level of financial and business intelligence among the children. For further enquiries on this model and other innovations in entrepreneurship training in secondary schools, the entrepreneurship department of Platform College could be contacted. rObe is the Director, Platform School, Ipaja, Lagos

NGO Donates School Building, Empowers 3,000 in Ebonyi Community Akinwale Akintunde A non-governmental organisation, Ebele and Anyichuks Foundation has donated a new two-storey building, which consists of six classrooms and ICT equipment to Isu Achara Community in Ohaozara Local Government Council of Ebonyi State. About 3,000 indigent members of the community, comprising unemployed women, widows, artisans and the less privileged also benefited from the empowerment scheme of the foundation. The state Governor, Chief David Umahi, while inaugurating the project and the distribution of the items, commended the founder, Mr. Ifeanyi Odii, stressing that government alone cannot shoulder the responsibility of providing access to quality education.

While thanking the founder, Umahi said Ebele and Anyichuks Foundation has been a source of consolation and has stood for the poor. “The foundation has been a source of consolation, he has stood for the poor, as we express our gratitude to him, we pray that the creator will continue to promote him. “We are gathered not only to commission this building and receive these gifts to the poor; we are here to honour the founders for being a source of joy, not only to his people, but Ebonyi State in general,� the governor said. In his remarks, Odii explained that the gesture was to create real wealth by empowering unemployed persons and supporting the educational upliftment of the upcoming generation. “The vision and mission of

the foundation is to add value and improve the lives of the less privilege through economic empowerment to enable them be self-reliant and safeguard their means of livelihood. “Over a decade ago, we started this journey towards emancipating humanity from the strong forces of underdevelopment and poverty through youth empowerment, social security and economic liberation. There is no greater sense of purpose than a deliberate attempt to create real wealth by empowering youths to do exploits and improve their community.� Odii, who is also the Chief Executive of Orient Global Manufacturing Limited, Lagos expressed hope that new school edifice would deepen the quality of teaching and learning within the community and beyond.

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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×

Kurdulla Emerges from the Dark Mohammed Aminu writes that Governor Aminu Tambuwal recently inaugurated the 80kw solar mini grid electricity project in Kurdulla community of Gudu Local Government Area of Sokoto State

Governor Aminu Tambuwal inaugurating the 80kw solar mini grid electricity project in Kurdulla community

"W

e have been living without access to electricity for a very long time. This solar project is a source of pride to us as we have never experienced electricity in our lives. We will no longer use lamp and generator as source of power in our homes. So, we are grateful to His Excellency Alhaji Aminu Tambuwal, the German Government and the European Union for wiping away our tears." These were the words of Yusuf Ibrahim, a farmer in Kurdulla community, a very remote area close to Niger Republic and over 100 kilometres away from the state capital. Ibrahim, just like most residents of the area, could not hide his joy, as Governor Tambuwal unveiled the 80 kilowatts Solar mini grid electricity project, that would provide uninterrupted electricity in the community that had never been connected to the national grid. It is estimated that around one and a half billion people globally have no access to reliable electricity. Most live in developing countries where the cost of connecting rural villages to the electricity grid is, and will remain, prohibitively expensive. This is certainly the case in Nigeria, where remote villages lie in huge expanses of territory, far from electrified towns and cities. Building infrastructure in Nigeria is a major challenge, and electrifying the country is perhaps the biggest of all. The use of solar energy in rural areas has increased over the years, as the innovations in solar powered technologies have led to poverty alleviation projects that combine development strategies and environmental consciousness. There’s no doubt that solar energy can help in rural development and pave the way for economic advancement. It is a viable solution for jumpstarting efforts to create and accelerate economic activity. It is a worthwhile investment option that also comes with a very important bonus: clean energy that does not contribute to environmental degradation and global warming.

The Sokoto solar project, a key component of the present administration’s rural development initiative, was co-funded by the European Union and jointly implemented by the Federal Ministry of Power, Works and Housing and the German International Development Agency, Deutsche Gesellschaft fßr Internationale Zusammenarbeit (GIZ). The project was executed through public private partnership and supervised by the Nigeria Energy Support Programme. Sokoto is the first state to benefit from the pilot solar project that has been designed to be replicated in five other states in the federation. Over 40,000 inhabitants of the Kurdulla community are expected to benefit from the solar electrification project under the programme. Speaking during the inauguration of the project in Kurdulla community recently, Tambuwal said more than 500 households

We have been living without access to electricity for a very long time. This solar project is a source of pride to us as we have never experienced electricity in our lives. We will no longer use lamp and generator as source of power in our homes. So, we are grateful to His Excellency Alhaji Aminu Tambuwal, the German Government and the European Union for wiping away our tears

would enjoy enhanced access to electricity supply. He described the project as a milestone in the realisation of various collaborations of the state government. The governor said the solar power project was aimed at improving living standard of the people of the area and enhance job creation. “Today’s event marks the beginning of a great collaborative effort towards ensuring sustainable growth through renewable energy sector development. It has now become absolutely necessary to take advantage of the ongoing renewable energy effort to ensure self-sufficiency in energy for economic development. “Mini grid powered by renewable sources is the best option for us to expand electricity access in the rural areas where the national grid is not available,� Tambuwal said. He stated that the project was facilitated by the state government and provided all logistics support to ensure its successful actualisation. He noted that Sokoto is known for its peaceful disposition, hence the efforts by government to attract investment into the state. "Sokoto is the most peaceful state in Nigeria and that is why from the conception of this project to its completion, there has been no security issues. "The state government is committed to working with partners to completing projects. Our cardinal principle is to live by the terms and conditions of this document. That is why we always try to play our own part for the actualisation of the project. This project is a laudable one and sited in a very remote area in the state. This will indeed drastically improve the lives of people of Kurdulla community. "We are ready to partner with developing partners not only in power but in health, education, environment and other sectors. I want Germany to consider Sokoto as a priority in the award of German scholarship. We really need help on issues of education and want our people to benefit from that," Tambuwal noted. He appealed to the benefiting community to make judicious use of the project and ensure prompt payment of electricity bills to ensure

durability as well as proper maintenance of the facility. The governor also urged community leaders and residents to ensure adequate security for equipment and personnel handling the project. Tambuwal to this end, commended the European Union and German Government for the conceptualisation of the project and its eventual actualisation. He reiterated the commitment of his administration to continue to work closely with all stakeholders to expand areas of cooperation for the benefit of the citizenry. The Minister of State , Power, Works and Housing, Mr. Sulaiman Hassan Zarma, described the Kurdulla mini grid electricity project as one of the six currently supported by National Energy Support Programme in six states of the federation, adding that the partnership was part of the federal government's efforts to make power available to rural communities through renewable energy. According to him, this is in line with the promises of President Muhammadu Buhari at the inception of his administration to increase power, make it steady and ultimately have uninterrupted power. He described the solar project as a product of promises kept by international partners and a model of public private partnership . "The project that we commissioned today is a product of such promises kept and a model of public private partnership. It is a story of cooperation by governments of other nations. The German Government and the European Union made a promise to participate in seeing to the Improvement of our country and contributed to the delivery of the project." The minister commended the state government's giant strides for making the project possible. "Sokoto is providing a lead and this is one of the promises of the government to make the business environment very friendly. We really commended Governor Tambuwal for providing the land, payment of compensation and construction of access road to the facility. "This is an investment in power and with this project, I see improvement in learning in schools within the locality, increase in economic activities

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37

CITYSTRINGS

and reduction in infant and maternal mortality. We really express our appreciation to the German Government and the European Union for the actualisation of this project," he stated. Zarma therefore, expressed the readiness of the federal government to work with partners on energy solutions. In his remarks, the European Union Ambassador to Nigeria, Mr. Ketil Karlsen, noted that over 1.5 billion people globally lacked access to electricity, adding that many Nigerians do not have access to cheap, affordable and steady electricity. He reiterated the commitment of the European Union to the promotion of energy and electricity in Nigeria. Karlsen described the project as key and strategic due to the possibility of creating best practice on what could be replicated throughout the country and beyond. "The issue of power is the main obstacle for economic independence and development. Forty-five per cent of people here don't have access to electricity and business people say this is the main obstacle. "So, we are looking at creating opportunities for inclusive growth and this is a vital priority. This is very doable if we work together to achieve a common goal," he stressed. Commenting at the event, the German Ambassador to Nigeria, Mr. Dietmar Kreusel, said the initiative was a great opportunity towards ensuring easy access to rural dwellers for better life. He described the solar project as a trail blazing project for the rest of the country due to the fact that it comprised state, federal, private sector and international donors through the engagement of local communities. He expressed optimism that the introduction of solar mini grid would expand access to electricity not just in Kurdulla community, but in other parts of the country. "We are glad to be here in Sokoto to commission a solar project implemented by the German Development Agency in a very remote part of Sokoto. It is very significant for not only the state but for Nigeria and it is in line with Sokoto Government energy philosophy for stable energy supply. I commend Sokoto State government for its commitment to improving the lives of its people." The Sultan of Sokoto, Alhaji Muhammad Sa'ad Abubakar, called on the community to safeguard the project and ensure its proper utilisation. He commended the state government for its efforts in enhancing the living conditions of the people. Speaking to THISDAY on the importance of the Kurdulla project, Governor Tambuwal’s spokesman, Malam Imam Imam, said already, life of the people in the community has already been changed for good. "As you are aware, gaining access to electricity can be really life-changing. We have seen such impact already in Kurdulla. Their productivity have increased, their children now study more because they have electricity at night and almost every home now has a television set. This has allowed them to connect to the

Sokoto is providing a lead and this is one of the promises of the government to make the business environment very friendly. We really commended Governor Tambuwal for providing the land, payment of compensation and construction of access road to the facility. This is an investment in power and with this project, I see improvement in learning in schools within the locality, increase in economic activities and reduction in infant and maternal mortality

L-R: Minister of State Power, Works and Housing, Suleiman Hassan Zarma, Sokoto State governor, Aminu Tambuwal, Sultan of Sokoto, Alhaji Muhammad Sa'ad Abubakar, German Ambassador to Nigeria, Mr. Dietmar Kreusel and the European Union Ambassador to Nigeria, Mr. Ketil Karlsen, at the event

The site of the solar project in Kurdulla community in Gudu Local Government Area of Sokoto State

L-R: Minister of State Power, Works and Housing, Suleiman Hassan Zarma, Sokoto State governor, Aminu Tambuwal and Sultan of Sokoto, Alhaji Muhammad Sa'ad Abubakar, at the event

world and be abreast of what is happening elsewhere,� he stated.

Imam added that already, market for electronics has opened and people from neighbouring

villages are trooping to Kurdulla to enjoy their new-found achievement.

T H I S D AY Ëž , JANUARY 31, 2018

38

BUSINESS/MONEYGUIDE

Senate to Probe Arbitrary Charges, Illegal Deductions by Commercial Banks Decries proliferation of crypto-currency in Nigeria

Damilola Oyedele Ă“Ă˜ ĂŒĂ&#x;ÔË The Senate Tuesday directed its Committee on Banking to investigate illegal deductions and arbitrary charges on depositors’ funds by commercial banks. The committee was mandated to invite the Governor of the Central Bank of Nigeria (CBN) and officials of the central bank, forensic auditors, managing directors of commercial banks and other stakeholders, to a public hearing to harmonise and amend laws that do not adequately protect customers from illegal banking practices. The resolution followed a motion sponsored by Senator Magnus Abe (Rivers APC) and 22 others, who accused commercial banks of actions contrary to tariff stipulations, credit and monetary guidelines issued periodically by the Central Bank of Nigeria. He cited a CBN report that about N2.6billion was recovered from banks as excess charges imposed on customers in 2015

alone, following investigation of about 6000 cases. “Concerned that several of the Central Bank of Nigeria’s applicable rules that should remedy such hardship and discourage sharp practices by the commercial banks are conflicting, vague and unjust, thereby causing the commercial banks to frequently short change their customers,� “Further concerned that requests made by Bank Customers to the Central Bank of Nigeria for clarification of the rules are largely ignored,� Abe said. He warned that banks would continue to declare huge profits at the expense of innocent Nigerians if the practices are not stopped. Contributing to the debate, Senator Dino Melaye (Kogi APC) said the practice had continued for years, because the deductions are usually too little to attract attention. Millions of naira have however been stolen by the banks this way, he alleged.

“How many Nigerians actually probe their bank statements?� Melaye queried. He also accused the banks of trading with funds of deceased customers, instead of contacting the next of kin of such persons to recover the deposited funds. Presiding, Senate President Bukola Saraki said there was need to protect the banking rights of Nigerians. “Particularly at these difficult times, every naira is important and we must be seen to be defending the interests of Nigerians who don’t have the voice to defend themselves,� “Again, the issue here is to get to the bottom of what the laws and guidelines are, and to be sure that they are in line with the laws and have the powers to make such pronouncements� Saraki added. The Senate yesterday also decried what it said, was the proliferation of crypto-currency, particularly Bitcoin, as a form of investment in Nigeria leaving citizens vulnerable to unverified and risky investment schemes.

banking hall

MARKET INDICATORS MONEY AND CREDIT STATISTICS

RenCap Foresees Interest Rate Cut in Q1 Obinna Chima Analysts at Renaissance Capital (RenCap), have predicted a reduction in interest rate by the Central Bank of Nigeria (CBN) this quarter. Precisely, the report estimated a two-percentage points rate cut. The rate cut, the firm stated in a report yesterday, would help complement the authorities’ efforts to reduce interest rates on treasury securities by raising the share of foreign debt in public debt. “We are positive about Nigeria in 2018 because of its stronger growth outlook, improved external position and prospects of lower interest rates. “Yes, we do expect the budget deficit to widen, but we are comfortable with the financing gap because it will still be lower than the IMF-recommended three per cent of GDP, and it does reflect an increase in capex spend, which is positive for growth. “The downside risks to our outlook include a deterioration in the oil sector’s outlook and escalation of political instability

in the run-up to the February 2019 elections,� it added. The report also anticipated a more stable naira to support a further slowdown in inflation from the mid-teens to between 11 and 12 per cent at the end of 2018. The introduction of the Investors’ and Exporters’ (I&E) forex window in April 2017, which allowed for transactions at market-determined rates, helped to improve forex liquidity. Also, the research and financial advisory firm predicted growth as well as rebuilding of savings in economies in sub-Saharan Africa (SSA) in 2018. However, it stated that the expected growth would be driven by Nigeria and South Africa, just as it raised its growth forecast for Nigeria to 2.9 per cent, compared with the two per cent it had predicted previously. Overall, it anticipated that SSA’s biggest economies would drive growth recovery in the continent in 2018, to a regional average of almost 3.5 per cent, compared with the 2.5 per cent in 2017, mainly on the back

of stronger growth in Nigeria and South Africa. RenCap explained that it decision to raise its forecast for Nigeria was because of what it described as more accommodative policy stance, a stronger external sector and more balanced growth as the consumer recovers, in the country. “SSA countries, particularly commodity exporters, should begin to rebuild savings in 2018, on the back of improving prices. “That said, we expect the narrowing of twin deficits to be moderate, implying they will still be significantly wider in 2018 than the 2000 -2017 average,� it stated. In terms of fiscal credibility, the firm stated that it believedfiscal credibility would separate countries that would see macroeconomic stability and sustainable growth over the medium term from those that will not. “Stronger commodity prices may help mitigate malaise on the fiscal reform front in some commodity-exporting countries.

Resort Savings & Loans Set to Resume Operation The management of Resort Savings & Loans Plc has announced plan by the organisation to resume operation in the next few weeks. The decision to re-open for business according to a statement from the organisation followed the recent appointment into its board. The management said it has been able to source credible investors and was hopeful of returning to full operations, adding that it is currently awaiting regulatory approvals for investors it recently secured. It added that it has been able to secure the interest of various properties developers in Lagos, Abuja and many state capitals for mass housing developments. While Mr. Olayemi Rabiu was recently

appointed Managing Director, Senator Sunday O. Fajinmi was named the Board chairman. “The chairman has been able to harness resources to create new face for the Bank. The bank which prides herself of having customers’ base in excess of 70,000 that spread across the nations is taking mortgage banking to the next level. “The bank being an active participant in the sector is to leverage on her huge investment in real assets to create mortgage-able assets to the benefits of her teeming customers. “In an effort to launch herself more fully into to the mass housing mortgage banking that she is known for, the bank has been able to re-establish

the good relationship with Federal Mortgage Bank of Nigeria and should crystallised good business with FMBN. “This was due to effort of the Board and Management in meeting officials of the Bank with a view to channelling a new course for their mutual operations,�it stated. This it said it hopes to do by embarking on aggressive recovery of amount owed by customers, transparent operations and viable dealings in businesses always. Arising from various collaborations with developers, the management said it is planning to reactivate her operations in Lekki Epe Axis, create more feasibility in Oyo State and viable business operations in Abuja axis.

(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 29,2018 The price of OPEC basket of fourteen crudes stood at $67.60 a barrel on Monday, compared with $67.94 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 , JANUARY 31 , 2018

39

MARKET NEWS

Capital Bancorp Lists Factors to Boost Stock Market Rally Goddy Egene and Nosa Alekhuogie

released yesterday. Speaking on the report yesterday in Lagos, Managing Director, of the company, Mr. Higo Aigboje explained that the performance boosters are: stability of oil prices, effective management and improved liquidity of the foreign exchange market, improvement on the corporate earnings, significant focus on the non-oil sector to increase

Capital Bancorp Plc, a frontline capital market operator, has identified critical factors that will further boost the performance of the Nigerian capital market this year. The firm outlined these factors in its report titled: ‘Economic Review and Outlook For 2018,’

output and lower interest rate regime. According to him, effective synergy in the use of fiscal and monetary policies, government’s focus on the real sector of the economy, improved market participation by local investors and domestic institutional investors, efficient regulation of the market by the Securities and Exchange

Commission (SEC) and the Nigerian Stock Exchange (NSE) are other factors that will help to sustain the market rally. “Others are passage, passage of Petroleum Industry Bill, unbundling of Nigerian National Petroleum Corporation and listing of resultant companies and deliberate efforts aimed at encouraging more listing on

PRICES FOR SECURITIES TRADED AS OF

income securities and failure in the banking sector which may trigger a sell-off can cause further damage to the entire stock market. He noted the company’s review of the global and Nigeria’s financial markets was designed to serve as a compass for both indigenous and foreign investors as well as potential investors.

The Exchange company such as Telecom, Gencos among others,� Aigboje said. The stockbroker, however, explained that issues such as sudden rise in insecurity can trigger exit of the foreign portfolio investors (FPI), political instability owing to forthcoming general elections, sudden reversal in oil prices, an upturn in the yields of fixed

A S AT 3 0 / 0 1 / 2 0 1 8

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

29 PRICE

%CHANGE

TRADES

VOLUME

ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm)

30

973,291.31

31.00

-0.16

434

15,571,720

31

434

15,571,720

OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

MARKET CAP(Nm) 506,123.63

32

PRICE

%CHANGE

TRADES

VOLUME

33

14.10

0.71

709

41,197,430

34

709

41,197,430

1,143

56,769,150

35 FOOD PRODUCTS

BANKING

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 REAL ESTATE DEVELOPMENT S/N 18 19 20 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 21 AUTOMOBILES/AUTO PARTS S/N 22 23 24 25 26 BEVERAGES--BREWERS/ DISTILLERS S/N 27 BEVERAGES--NON-ALCOHOLIC S/N 28

MARKET CAP(Nm) DANGOTE CEMENT PLC 4,600,937.00 BUILDING MATERIALS

S/N PRICE

%CHANGE

TRADES

VOLUME

270.00

0.75

37 37 37 1,180

204,887 204,887 204,887 56,974,037

36 37 FOOD PRODUCTS--DIVERSIFIED S/N 38

CROP PRODUCTION

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

S/N

1,012.00

0.46

-8.00

2

150,000

40

68,776.91 71,000.00

72.10 71.00

1.43

21 28 51

82,516 1,470,626 1,703,142

FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC FISHING/HUNTING/TRAPPING ELLAH LAKES PLC.

MARKET CAP(Nm) 511.20

LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

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

39 HOUSEHOLD DURABLES

MARKET CAP(Nm) 3,360.00

PRICE

%CHANGE

TRADES

VOLUME

4.26

-

0

0

0

0

41 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES S/N

PRICE

%CHANGE

TRADES

VOLUME

42 43

1.12

4.67

54

2,204,268

44

54

2,204,268

105

3,907,410

45 46 47 48 49 50

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,588.37

0.60

-

5

21,462

194.58 2,111.93

0.50 3.25

-

5 0

45,305 0

99,994.06

2.46

9.33

693

160,989,028

33,711.17

17.55

-0.28

75 778 778

1,264,489 162,320,284 162,320,284

51 52 53 BANKING S/N 54 55

ARBICO PLC.

MARKET CAP(Nm) 711.32

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

MARKET CAP(Nm) 39,600.00 165.00

REAL ESTATE DEVELOPMENT

MARKET CAP(Nm)

PRICE

8,314.87

3.20

BUILDING CONSTRUCTION

UACN PROPERTY DEVELOPMENT CO. LIMITED REAL ESTATE INVESTMENT TRUSTS (REITS) SKYE SHELTER FUND PLC UNION HOMES REAL ESTATE INVESTMENT TRUST (REIT) UPDC REAL ESTATE INVESTMENT TRUST

AUTOMOBILES/AUTO PARTS DN TYRE & RUBBER PLC BEVERAGES--BREWERS/ DISTILLERS CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. BEVERAGES--NON-ALCOHOLIC 7-UP BOTTLING COMP. PLC.

FOOD PRODUCTS DANGOTE FLOUR MILLS PLC

PRICE

%CHANGE

TRADES

VOLUME

56

4.79

-

0 0

0 0

57

PRICE

%CHANGE

TRADES

VOLUME

58

30.00 6.60

-

21 0

229,771 0

59

21

229,771

TRADES

VOLUME

%CHANGE -5.00

60 61 62 63

39

2,787,868

39

2,787,868

65

64

MARKET CAP(Nm) 2,000.00

PRICE

%CHANGE

TRADES

VOLUME

66

100.00

-

0

0

67

11,300.89

45.20

-

0

0

26,682.70

10.00

-

4

50,000

70

4

50,000

71

64

3,067,639

68 69

MARKET CAP(Nm) 2,386.33 MARKET CAP(Nm) 22,470.65

PRICE

%CHANGE

TRADES

VOLUME

0.50

-

0

0

0

0

PRICE

%CHANGE

TRADES

VOLUME

76

2.87

3.99

17

288,000

77

242.22

0.89

-

0

0

113.00

2.73

55

1,092,210

550,135.16

64.00

-

10

23,005

1,199,535.31

150.00

-0.60

133

11,553,782

215

12,956,997

TRADES

VOLUME

MARKET CAP(Nm) 82,000.00

74 75

247,513.26

MARKET CAP(Nm) 65,321.00

72 73

PRICE 101.97

%CHANGE -

78 79 INSURANCE CARRIERS, BROKERS AND SERVICES S/N 80

0

0

81

0

0

MICRO-FINANCE BANKS

PRICE

%CHANGE

TRADES

VOLUME

16.40

1.86

219

8,122,182

S/N 82 83

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

252,600.00

21.05

0.48

77

80,957.72

30.85

-0.16

166

1,041,614 2,728,277

24,425.01

3.08

10.00

492

87,178,626

1,861.25

0.50

-

0

0

1,015.74

5.70

-

2

13,972

55,240.79

20.85

-

24

173,483

3,676.41

13.45

-

0 980

0 99,258,154

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

MARKET CAP(Nm) 29,675.59 1,165,204.69

PRICE

%CHANGE

TRADES

VOLUME

15.80 1,470.00

3.27 -2.00

79 59

661,472 113,411

138

774,883

HOUSEHOLD DURABLES

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,767.74

23.25

-

0

0

3,418.97

3.28

4.79

66 66

3,408,479 3,408,479

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

93,504.73

23.55

-

23

137,524

253,929.24

44.20

-0.67

33

170,690

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

BANKING

MARKET CAP(Nm) 373,170.83 73,881.64

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

308,214 116,706,727

PRICE

%CHANGE

TRADES

VOLUME

12.90 3.19

0.39 10.00

318 401

17,920,075 99,863,968

20.00

-2.25

73

767,503

3.80 48.95 1.12 1.54 2.20 8.20

-2.06 0.51 4.46 10.00 10.00 1.23

435 427 115 463 211 107

42,395,216 17,135,756 11,710,291 93,616,198 36,472,650 1,188,042

12.85

-1.15

318

19,602,216

1.44 1.34

9.09 9.84

45 330 3,243

2,933,269 47,385,963 390,991,147

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

9,880.80

0.48

-4.00

1

100,000

4,504.63

0.65

3.17

73

11,465,271

27,405.00

2.61

-

16

426,105

3,000.00

0.50

-

0

0

16,077.75

1.55

1.97

17

1,307,200

7,364.75

0.50

-

0

0

7,000.00 2,411.47

0.50 0.53

-

0 0

0 0

ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL 366,991.02 INCORPORATED FIDELITY BANK PLC 110,104.23 GUARANTY TRUST BANK PLC. 1,440,656.22 JAIZ BANK PLC 32,999.96 SKYE BANK PLC 21,375.66 STERLING BANK PLC. 63,338.92 UNION BANK NIG.PLC. 238,790.17 UNITED BANK FOR AFRICA 439,462.56 PLC UNITY BANK PLC 16,832.65 WEMA BANK PLC. 51,689.78 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

56 1,455

1,913.74

0.50

-

0

0

3,070.00

0.50

-

0

0

642.04

0.50

-

0

0

3,368.78

0.46

-4.17

2

148,000

4,124.48

0.96

-

2

21,000

5,520.00

0.69

-4.17

29

1,221,073

4,000.00

0.50

-

1

2,000

9,610.52

1.82

1.11

19

549,181

3,869.74

0.50

-

1

2,904

2,648.78

0.48

-

8

111,359

3,334.38

0.50

-

0

0

4,170.41

0.50

-

0

0

6,455.52

0.50

-

0

0

4,670.54

0.50

-

1

1,100

1,291.15

0.50

-

1

1,000

6,933.33

0.50

-

1

55,000

8,000.00

0.50

-

0

0

9,234.09

0.69

7.81

132

14,245,894

304

29,657,087

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

11,799.67

2.58

-

0

0

4,070.22

1.78

9.88

40

1,069,460

40

1,069,460

PRICE

%CHANGE

TRADES

VOLUME

1.30

-

0

0

0.50

-

0

0

MARKET CAP(Nm) 5,460.00 7,370.87

WEDNESDAY, ͱͯ˜ ͺ͸͹Ͷ ˾ T H I S D AY

40

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

THISDAY AFRINVEST 40 INDEX

dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ŐĂŝŶĞĚ ϯϬďƉƐ LJĞƐƚĞƌĚĂLJ ƚŽ ĐůŽƐĞ Ăƚ ϭ͕ϴϰϯ͘ϰϮ ƉŽŝŶƚƐ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƵƉƟĐŬƐ ŝŶ 'h Z Edz ;нϬ͘ϱйͿ͕ E' D ;нϬ͘ϳйͿ ĂŶĚ & E, ;нϬ͘ϳйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϯϰ͘ϵй ŽĨ ƚŚĞ ŝŶĚĞdž͘ dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ŚĂƐ ƌĞƚƵƌŶĞĚ ϭϵ͘ϱй zd ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

>ŽĐĂů ŽƵƌƐĞ DĂŝŶƚĂŝŶƐ WŽƐŝƟǀĞ ůŽƐĞ͙ E^ ^/ 'ĂŝŶƐ ϰϮďƉƐ dŚĞ ůŽĐĂů ďŽƵƌƐĞ ŵĂŝŶƚĂŝŶĞĚ Ă ƉŽƐŝƟǀĞ ĐůŽƐĞ ƚŽĚĂLJ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ƌŽƐĞ ϰϮďƉƐ ƚŽ ϰϰ͕ϰϵϯ͘ϳϵ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ĞdžƉĂŶĚĞĚ ƚŽ ϭϲ͘ϯй͘ ĐĐŽƌĚŝŶŐůLJ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ Eϲϳ͘ϭďŶ ŝŶ ǀĂůƵĞ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ƐĞƩůĞĚ Ăƚ Eϭϱ͘ϵƚŶ͘ WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƌŝǀĞŶ ďLJ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ E' D ;нϬ͘ϴйͿ͕ ^d E / ;нϮ͘ϮйͿ ĂŶĚ d/ ;нϵ͘ϯйͿ͘ ^ŝŵŝůĂƌůLJ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐŚĞĚ ϱϯ͘Ϭй ĂŶĚ Ϯϲ͘ϰй ƚŽ ϴϳϳ͘Ϭŵ ƵŶŝƚƐ ĂŶĚ Eϳ͘ϰďŶ ƌĞƐƉĞĐƟǀĞůLJ͘

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ŶŽƌƚŚǁĂƌĚƐ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ĂƉƉƌĞĐŝĂƚĞĚ ƚŚĞ ŵŽƐƚ͕ ƵƉ Ϭ͘ϳй ĚƌŝǀĞŶ ďLJ ŐĂŝŶƐ ŝŶ t W/ ;нϳ͘ϴйͿ͕ // K ;нϯ͘ϮйͿ ĂŶĚ E D ;нϭ͘ϭйͿ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ĨŽůůŽǁĞĚ ĐůŽƐĞůLJ͕ ƌŝƐŝŶŐ Ϭ͘ϲй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ Ă ƌĂůůLJ ŝŶ E' D ;нϬ͘ϴйͿ͕ / DKE ;нϭϬ͘ϬйͿ ĂŶĚ 'h Z Edz ;нϬ͘ϱйͿ͘ KŶ ƚŚĞ ĐŽŶƚƌĂƌLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ƐŚĞĚ Ϭ͘ϲй ĂƐ ^ W> d ;Ͳϭ͘ϭйͿ ƌĞĐŽƌĚĞĚ ůŽƐƐĞƐ͘ ůƐŽ͕ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ E ^d> ;ͲϮ͘ϬйͿ ĂŶĚ hE/> s Z ;ͲϬ͘ϳйͿ ƉƵůůĞĚ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž Ϭ͘ϯй ůŽǁĞƌ͘

DĂƌŬĞƚ ƌĞĂĚƚŚ tĞĂŬĞŶƐ DĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁŚŝĐŚ ŵĞĂƐƵƌĞƐ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ǁĞĂŬĞŶĞĚ ƚŽ ϭ͘ϰdž ĨƌŽŵ ϯ͘ϰdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ ƚƌĂĚŝŶŐ ĚĂLJ ĂƐ ϯϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ƌĞůĂƟǀĞ ƚŽ Ϯϰ ĚĞĐůŝŶĞƌƐ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵĞƌƐ ǁĞƌĞ / DKE ;нϭϬ͘ϬйͿ͕ ^<z ;нϭϬ͘ϬйͿ ĂŶĚ ^d Z>/E' ;нϭϬ͘ϬйͿ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ ZKz > y ;Ͳϴ͘ϯйͿ ĂŶĚ &dE K K ;Ͳϴ͘ϬйͿ ůĞĚ ůĂŐŐĂƌĚƐ͘ /Ŷ ƚŚĞ ŶĞĂƌ ƚĞƌŵ͕ ǁĞ ĞdžƉĞĐƚ ƉĞƌĨŽƌŵĂŶĐĞ ƚŽ ƌĞŵĂŝŶ ůĂƌŐĞůLJ ƉŽƐŝƟǀĞ ĂƐ ƚŚĞ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ĚƌĂǁƐ ĐůŽƐĞƌ͘

Wednesday, January 31, 2018

Current Price

Previous Current Price Weighting Change

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

THISDAY AFRINVEST 40 1,843.42

0.30%

19.5%

84.3%

24.8%

7.9%

8.7x

1.2x

3.2%

1

Guaranty Trust Bank PLC

48.95

0.5%

21.5%

20.1%

20.7%

26.0%

4.3%

10.2x

2.5x

4.2%

9.8%

2

Zenith Bank PLC

31.00

0.0%

13.2%

20.9%

19.6%

21.7%

3.2%

6.1x

1.3x

6.5%

16.3%

3

Nigerian Brew eries PLC

4

Nestle Nigeria PLC

150.00

0.0%

8.4%

11.2%

11.1%

18.9%

8.6%

36.9x

6.7x

2.4%

2.7%

-2.0%

6.4%

-5.5%

-5.5%

78.4%

19.0%

38.3x

25.3x

1.7%

2.6%

270.00

0.7%

5.4%

5

Dangote Cement PLC

6.1%

17.4%

17.4%

30.4%

15.7%

18.6x

5.3x

3.1%

6

FBN Holdings Plc

14.10

0.7%

7.4%

60.2%

60.4%

2.6%

0.3%

23.0x

0.8x

1.4%

4.4%

7

Access Bank PLC

12.90

0.0%

4.7%

23.4%

21.7%

15.1%

2.0%

5.2x

0.7x

5.0%

19.1%

8

United Bank for Africa PLC

12.85

-1.2%

4.6%

24.8%

23.4%

17.2%

2.2%

5.6x

0.9x

5.8%

17.7%

9

Ecobank Transnational Inc

20.00

0.0%

3.2%

17.6%

22.9%

-14.6%

-1.3%

0.7x

3.1%

-17.3%

10

SEPLAT Petroleum Development C

685.00

-1.1%

2.8%

9.4%

9.4%

-12.4%

-6.7%

0.9x

46.00

2.2%

2.7%

10.8%

12.5%

28.7%

3.4%

10.6x

2.8x

1.3%

113.00

2.7%

2.3%

20.2%

20.2%

6.9%

2.9%

39.8x

3.0x

0.6%

2.5%

52.55

0.4%

1.6%

17.1%

17.1%

47.1%

9.8%

4.7x

7.9x

1.9%

21.3%

3.7%

30.2%

2.4%

12.2%

-15.2%

11

Stanbic IBTC Holdings PLC

12

Guinness Nigeria PLC

13

Lafarge Africa PLC

14

Fidelity Bank PLC

3.80

-2.1%

1.6%

54.5%

47.3%

8.0%

1.1%

3.3x

0.5x

15

Oando PLC

5.99

0.0%

1.1%

0.0%

0.0%

40.7%

4.2%

2.7x

0.6x

16

Dangote Sugar Refinery PLC

21.05

0.5%

1.0%

5.3%

3.4%

43.2%

19.8%

8.2x

3.2x

17

Okomu Oil Palm PLC

72.10

0.0%

1.0%

6.5%

6.5%

37.4%

25.9%

9.6x

3.1x

2.1%

10.4%

18

Unilever Nigeria PLC

44.20

-0.7%

1.0%

7.8%

9.9%

50.3%

8.4%

27.2x

10.4x

0.2%

3.7%

19

International Brew eries PLC

64.00

0.0%

0.8%

17.4%

16.4%

24.6%

7.4%

67.0x

15.2x

20

Flour Mills of Nigeria PLC

30.85

-0.2%

0.6%

6.4%

6.4%

10.4%

2.6%

8.5x

0.8x

3.0%

11.8%

21

Transnational Corp of Nigeria

2.46

9.3%

0.8%

68.5%

66.2%

19.6%

4.1%

9.8x

1.7x

22

UAC of Nigeria PLC

17.55

-0.3%

0.5%

3.8%

3.8%

6.3%

2.2%

11.3x

0.7x

3.19

10.0%

0.9%

112.7%

103.2%

2.5%

0.3%

12.9x

0.3x

231.00

0.0%

0.4%

0.5%

0.5%

37.3%

7.4%

8.6x

3.22

-0.6%

0.9%

103.8%

3.8%

0.6%

216.00

0.0%

0.5%

11.0%

11.0%

32.6%

12.0%

0.5%

15.0%

19.0%

44.3%

3.7%

12.6x

5.6x

23

Diamond Bank PLC

24

Total Nigeria PLC

25

FCMB Group Plc

26

11 PLC

27

Forte Oil PLC

50.00

0.0% 0.0%

9.4%

37.0%

1.5%

10.2% 5.6%

8.9%

3.0x

2.6%

11.6%

9.3x

0.3x

3.1%

10.7%

11.5x

3.2x

3.8%

8.7%

/Ŷ ƚŚĞ E ^ Kd džĐŚĂŶŐĞ͕ ƚŚĞ ^ & t D K ǁĂƐ ƚŚĞ ŽŶůLJ ŝŶƐƚƌƵŵĞŶƚ ƚŚĂƚ ƚƌĂĚĞĚ͘ dŽƚĂů ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ǁĂƐ ϭϭ͕ϲϱϬ ƵŶŝƚƐ ĂŶĚ Eϭ͘ϴŵ ƌĞƐƉĞĐƟǀĞůLJ͘

28

PZ Cussons Nigeria PLC

0.4%

14.3%

11.3%

10.7%

5.0%

22.3x

2.3x

29

Cadbury Nigeria PLC

15.80

3.3%

0.3%

0.8%

1.3%

4.5%

1.6%

45.1x

2.6x

30

Presco PLC

71.00

1.4%

0.3%

3.6%

3.6%

42.9%

25.9%

3.5x

31

NASCON Allied Industries PLC

20.85

0.0%

0.3%

12.7%

8.5%

53.4%

18.1%

11.7x

32

UPDC Real Estate Investment Tr

10.00

0.0%

0.3%

0.0%

0.0%

33

Union Bank of Nigeria PLC

8.20

1.2%

0.3%

5.1%

9.2%

5.6%

1.2%

30.00

0.0%

0.3%

7.1%

7.1%

-12.2%

-1.2%

2.20

10.0%

0.4%

103.7%

94.7%

6.1%

0.3%

35.0%

35.0%

61.6%

ĐŽďĂŶŬ dƌĂŶƐŶĂƟŽŶĂů /ŶĐŽƌƉŽƌĂƚĞĚ WůĐ ;͞ d/͟Ϳ͕ ƐŝŶĐĞ ŝƚƐ ĞƐƚĂďůŝƐŚŵĞŶƚ ŝŶ ϭϵϴϱ ĂƐ Ă ƉƌŝǀĂƚĞ ƐĞĐƚŽƌ ŝŶŝƟĂƟǀĞ͕ ŚĂƐ ŐƌŽǁŶ ďƌĂŶĐŚĞƐ ĂĐƌŽƐƐ ϰϬ ĐŽƵŶƚƌŝĞƐ ŝŶ tĞƐƚ͕ ĞŶƚƌĂů͕ ĂƐƚ ĂŶĚ ^ŽƵƚŚ ĨƌŝĐĂ ǁŝƚŚ ůŝĐĞŶƐĞĚ ŽƉĞƌĂƟŽŶ ŝŶ WĂƌŝƐ ŝŶ ĂĚĚŝƟŽŶ ƚŽ ƌĞƉƌĞƐĞŶƚĂƟǀĞ ŽĸĐĞƐ ŝŶ ĞŝũŝŶŐ͕ ƵďĂŝ͕ :ŽŚĂŶŶĞƐďƵƌŐ͕ >ŽŶĚŽŶ ĂŶĚ >ƵĂŶĚĂ͘ d/ ĐŽŶƟŶƵĞƐ ƚŽ ĚƌŝǀĞ ƌĞǀĞŶƵĞ ƚŚƌŽƵŐŚ ŝƚƐ ƐƚƌĂƚĞŐŝĐ ďƵƐŝŶĞƐƐ ƐĞŐŵĞŶƚƐ ĐŽǀĞƌŝŶŐ ŽŶƐƵŵĞƌ͕ ŽŵŵĞƌĐŝĂů ĂŶĚ ŽƌƉŽƌĂƚĞ Θ /ŶǀĞƐƚŵĞŶƚ ďĂŶŬŝŶŐ͘ dŚĞ ĂŶŬ ŝƐ ĐůĂƐƐŝĮĞĚ ǁŝƚŚŝŶ ŽƵƌ dŝĞƌͲϭ ƵŶŝǀĞƌƐĞ ǁŝƚŚ ƚŽƚĂů ĂƐƐĞƚƐ ŽĨ Eϲ͘ϰƚŶ ĂƐ Ăƚ ϵD͗ϮϬϭϳ͘ d/ ŚĂƐ ŵĂĚĞ ĚŝŐŝƚĂů ďĂŶŬŝŶŐ Ă ŬĞLJ ĨŽĐƵƐ ǁŝƚŚ ƚŚĞ ůĂƵŶĐŚ ŽĨ ŵsŝƐĂ Ͳ Ă WĂŶ ĨƌŝĐĂŶ DŽďŝůĞ ƉƉ ʹ ŝŶ Yϰ͗ϮϬϭϲ͘ dŚĞ ƉƉ ŐŝǀĞƐ ĐŽŶƐƵŵĞƌƐ ƚŚĞ ĂďŝůŝƚLJ ƚŽ ƵƐĞ ƚŚĞŝƌ ŵŽďŝůĞ ƉŚŽŶĞƐ ƚŽ ŵĂŬĞ ƉĞƌƐŽŶ ƚŽ ŵĞƌĐŚĂŶƚ Žƌ ƉĞƌƐŽŶ ƚŽ ƉĞƌƐŽŶ ƉĂLJŵĞŶƚ͘

9.5%

1,470.00

23.55

ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ ĐŽďĂŶŬ dƌĂŶƐŶĂƟŽŶĂů /ŶĐŽƌƉŽƌĂƚĞĚ WůĐ ;͞ d/͟Ϳ

Divinden Earnings d Yield Yield

7.8%

7.9% 2.1%

4.5%

1.2x

2.1%

28.6%

5.4x

3.4%

8.5%

0.8x

6.8%

2.2%

10.5x

0.5x

9.6%

1.6x

-7.6%

0.6%

11.6x

0.7x

8.6%

15.8%

5.3x

2.3x

18.9%

34

Julius Berger Nigeria PLC

35

Sterling Bank PLC

36

Dangote Flour Mills Plc

16.40

1.9%

37

GlaxoSmithKline Consumer Niger

19.00

0.0%

0.2%

-12.1%

-12.1%

61.2%

23.6%

3.9x

1.4x

1.6%

38

Chemical and Allied Products P

38.85

0.0%

0.2%

14.3%

8.8%

84.3%

38.5%

17.0x

11.9x

5.7%

5.9%

39

Beta Glass PLC

62.35

5.0%

0.1%

21.5%

21.5%

18.4%

11.9%

8.8x

1.5x

1.6%

11.4%

40

Transcorp Hotels Plc

7.20

0.0%

0.1%

-0.1%

-0.1%

4.7%

2.8%

21.4x

1.0x

5.6%

4.7%

T o p 10 G a ine r s

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 %

D IA M ON D B N K

3.19

10.0%

T R A N SC OR P

161.0

9.3%

SKYEB A N K

1.54

10.0%

D IA M ON D B N K

99.9

10.0%

ST ER LN B A N K

2.20

10.0%

SKYEB A N K

93.6

10.0%

d/ ŝƐ Ăƚ Ă ƌĞĐŽǀĞƌLJ ƐƚĂŐĞ ĂŌĞƌ ƐĞǀĞƌĞ ĂƐƐĞƚ ƋƵĂůŝƚLJ ĚĞƚĞƌŝŽƌĂƟŽŶ͕ ƐƵīĞƌĞĚ ŝŶ ŝƚƐ EŝŐĞƌŝĂŶ ŽƉĞƌĂƟŽŶƐ͕ ǁŚŝĐŚ ĚƌĂŐŐĞĚ ƚŚĞ ĞĂƌŶŝŶŐƐ ŽĨ ƚŚĞ 'ƌŽƵƉ ƚŽ ŝŶ &z͗ϮϬϭϲ ŐŝǀĞŶ ƚŚĂƚ ϯϬ͘ϴй ŽĨ ůŽĂŶ Ŭ ŝƐ ƐŬĞǁĞĚ ƚŽ EŝŐĞƌŝĂ ĂŶĚ ϯϳ͘Ϭй ŽĨ ŐƌŽƐƐ ĞĂƌŶŝŶŐƐ ĐŽŵĞ ĨƌŽŵ EŝŐĞƌŝĂŶ ŽƉĞƌĂƟŽŶƐ͘ dŚĞ ĂŶŬ ƐƵĐĐĞƐƐĨƵůůLJ ŝƐƐƵĞĚ h^ΨϰϬϬ͘Ϭŵ ĐŽŶǀĞƌƟďůĞ ďŽŶĚ ŝŶ Yϰ͗ϮϬϭϳ ǁŝƚŚ ƉĂƌƚ ŽĨ ƚŚĞ ƉƌŽĐĞĞĚƐ ƉůĂŶŶĞĚ ƚŽ ďĞ ƵƐĞĚ ƚŽ ƌĞƉĂLJ ƐŚŽƌƚ ƚĞƌŵ ďƌŝĚŐĞ ĮŶĂŶĐŝŶŐ ĨŽƌ ƚŚĞ ĐƌĞĂƟŽŶ ŽĨ Ă ͞ZĞƐŽůƵƟŽŶ sĞŚŝĐůĞ͟ ʹ ĂŶ ^Ws ƐĞƚ ƵƉ ƚŽ ŚŽůĚ ĐŚĂůůĞŶŐĞĚ ĂƐƐĞƚƐ ŽŶ ǁŚŝĐŚ ĂŐŐƌĞƐƐŝǀĞ ƌĞĐŽǀĞƌLJ ĂĐƟŽŶƐ ĂƌĞ ƚŽ ďĞ ƚĂŬĞŶ ʹ ǁŚŝůĞ ƚŚĞ ďĂůĂŶĐĞ ŝƐ ƚŽ ƌĞĮŶĂŶĐĞ ĞdžŝƐƟŶŐ ƐŚŽƌƚͲƚĞƌŵ ĚĞďƚ͘

H ON YF LOUR

3.08

10.0%

H ON YF LOUR

87.2

10.0%

NP FM CRFB K

1.78

9.9%

FCM B

74.0

-0.6%

WEM A B A N K

1.34

9.8%

WEM A B A N K

47.4

9.8%

C ILEA SIN G

1.86

9.4%

F ID ELIT YB K

42.4

-2.1%

T R A N SC OR P

2.46

9.3%

FB NH

41.2

0.7%

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

A B CTRA NS

0.44

-8.3%

NB

1732.3

0.0%

/Ŷ ƚŚĞ ĂŶŬ͛Ɛ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ͕ 'ƌŽƐƐ ĂƌŶŝŶŐƐ ŐƌĞǁ Ϯϯ͘ϲй zͲŽͲz ĨƌŽŵ Eϰϱϲ͘ϳďŶ ƚŽ Eϱϲϰ͘ϱďŶ͘ dŚŝƐ ǁĂƐ ĚƌŝǀĞŶ ďLJ Ă ϭϲ͘ϰй ŝŶĐƌĞĂƐĞ ŝŶ /ŶƚĞƌĞƐƚ /ŶĐŽŵĞ ƚŽ Eϯϱϯ͘ϰďŶ ĂŶĚ ϯϳ͘ϯй ŝŶĐƌĞĂƐĞ ŝŶ EŽŶŝŶƚĞƌĞƐƚ /ŶĐŽŵĞ ƚŽ Eϭϵϳ͘ϰďŶ͘ Ɛ Ă ƌĞƐƵůƚ͕ W d ƌŽƐĞ ϭϭ͘Ϭй ĨƌŽŵ EϱϮ͘ϭďŶ ƚŽ Eϱϳ͘ϴďŶ͘ /ŶǀĞƐƚŽƌƐ͛ ƌĞĂĐƟŽŶ ƚŽ ƚŚĞ ƌĞƐƵůƚ ƐĞĞŵƐ ƚŽ ďĞ ŵŝůĚůLJ ƉŽƐŝƟǀĞ ĂƐ ƚŚĞ ƐŚĂƌĞ ƉƌŝĐĞ ƌŽƐĞ ĨƌŽŵ Eϭϳ͘ϬϬ ďĞĨŽƌĞ ƚŚĞ ƌĞůĞĂƐĞ ŽĨ ƚŚĞ ƌĞƐƵůƚ ƚŽ Ă ŚŝŐŚ ŽĨ Eϭϳ͘ϰϵ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ͘ tĞ ĂƌĞ ŽĨ ƚŚĞ ǀŝĞǁ ƚŚĂƚ ƌĞŶĞǁĞĚ ĞīŽƌƚƐ ƚŽǁĂƌĚƐ ĂŐŐƌĞƐƐŝǀĞ ƌĞĐŽǀĞƌLJ ĐŽƵƉůĞĚ ǁŝƚŚ ƚŚĞ ƐĞƚƵƉ ŽĨ ƚŚĞ ^Ws ǁŝůů ŚĞůƉ ŝŶ ĨƵƌƚŚĞƌ ĚƌŝǀŝŶŐ ĚŽǁŶ EW> ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ͘

R OYA LEX

0.44

-8.3%

GUA R A N T Y

839.2

0.5%

F T N C OC OA

0.46

-8.0%

SEP LA T

615.5

-1.1%

C UT IX

2.28

-5.0%

FB NH

577.3

0.7% 0.0%

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

T ic k er

25.4%

T ic k er

Vo lum e

P ric e C hg %

UN IT YB N K

1.44

9.1%

ST ER LN B A N K

36.5

10.0%

WA P IC

0.69

7.8%

UB A

19.6

-1.2%

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

NA HCO

3.91

-4.6%

Z EN IT H B A N K

483.8

A IR SER VIC E

5.35

-4.5%

T R A N SC OR P

393.7

9.3%

LIN KA SSUR E

0.69

-4.2%

D IA M ON D B N K

318.4

10.0% 10.0%

LA SA C O

0.46

-4.2%

H ON YF LOUR

260.9

M ULT IVER SE

0.48

-4.0%

UB A

252.4

-1.2%

A F R IN SUR E

0.48

-4.0%

FCM B

240.8

-0.6%

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 31, 2018

MARKET NEWS

Vetiva Reviews Stocks, Says Market Remains Undervalued Vetiva Research has said

the Nigerian stock market remained undervalued despite its growth of 16.3 per cent so far this year. In a report released on Monday, Vetiva maintained its view that the market remains undervalued, supported by several factors including but not limited to the market price earning(P/E) ratio of 14.1x versus emerging market average of 17.4x. The report noted that despite the recent rally in the Nigerian equities market

Vetiva said that an important support to the revision of its valuations on coverage companies is the revision of its Risk-Free Rate (RFR) assumption to capture the Vetiva’s expectations of nearterm yield moderation in the Nigerian fixed income market. “Using a three-month exponential moving average (EMA) of the 10-year benchmark bond yield, we revise our RFR assumption from 15.67 per cent to 14.65 per cent,” Vetiva said. Speaking on the report,

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

the Head of Vetiva Research, Olalekan Olabode: “We have revised our coverage valuations to reflect the new realities. Specifically, we revise our RFR downward to 14.65 per cent and our market risk premium is cut by 50bps to 5.50 per cent” Specifically, in respect of the Banking Sector, the report notes that, despite a shrunk loan book ( nine months 2017 coverage average loan growth of declined three per cent) across the coverage banks, the top tier banks benefitted

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 29-Jan-2018, unless otherwise stated.

from the elevated interest rate environment. Also, the report stated that, despite lower yields in fourth quarter (Q4) of 2017, Vetiva analysts foresee stable earnings for the quarter, lifted by strong non-interest income and improving asset quality. For the Consumer and Industrial Goods sectors, Vetiva expects that yearon-year comparables will remain strong across its coverage companies, driven by stronger prices, volume boost due to the festive

season, and stable costs. Furthermore, the report highlighted sustained stability in gas supply and currency liquidity as a boon for margins, also believing that upstream energy players should turn in impressive results – supported by a rebound in crude production volumes and higher average crude prices in 2017 full year (and Q4 especially). Despite the aforementioned, Vetiva believes downstream earnings will remain pressured, constrained by pricing regulations and intermittent

product shortages. In its revision of valuations across its coverage names, Vetiva is most optimistic about the banks and expect the sector to remain the toast of investors, given the sector’s strong correlation with the macroeconomy. Some valuation revisions include, but are not limited to, GTBank Plc now valued at N53.48; Zenith Bank Plc at N37.09; Access Bank Plc at N13.91; Diamond Bank Plc at N5.15 and Flour Mills of Nigeria Plc at N54.94.

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 198.49 198.70 11.51% Nigeria International Debt Fund 242.70 242.91 4.79% 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 0.86 0.87 4.41% ACAP Income Funds 0.62 0.62 3.21% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 16.40% enquiries@arminvestmentcenter.com ARM INVESTMENT MANAGERS LTD Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.65 21.27 13.01% ARM Discovery Fund 427.82 440.72 9.96% ARM Ethical Fund 28.76 29.63 5.27% ARM Money Market Fund 1.00 1.00 16.18% 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 165.60 166.76 9.17% AXA Mansard Money Market Fund 1.00 1.00 15.64% 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 15.10% Paramount Equity Fund 13.11 13.45 6.07% Women's Investment Fund 101.60 104.31 1.02% 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 16.30% 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 16.80% Coronation Balanced Fund 1.08 1.09 8.83% Coronation Fixed Income Fund 1.12 1.13 12.63% 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 1,170.65 1,171.82 1.99% FBN Heritage Fund 151.07 152.54 8.42% FBN Money Market Fund 100.00 100.00 15.90% FBN Nigeria Eurobond (USD) Fund - Institutional $114.45 $114.99 1.36% FBN Nigeria Eurobond (USD) Fund - Retail $114.37 $114.91 1.39% FBN Nigeria Smart Beta Equity Fund 192.89 195.74 12.94% 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 1.45 1.48 10.84% Legacy Debt Fund 2.91 2.91 1.17% 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 3,175.95 3,223.73 6.63% Coral Income Fund 2,494.05 2,494.05 1.96% 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 16.00% 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 15.50% Vantage Balanced Fund 2.24 2.27 6.36%

Vantage Guaranteed Income Fund 1.00 1.00 17.99% Kedari Investment Fund (KIF) 115.72 116.02 0.59% 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 1.17 1.19 2.00% Lotus Halal Fixed Income Fund 1,039.90 1,039.90 0.90% 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 17.34 17.51 23.06% Meristem Money Market Fund 10.00 10.00 16.30% 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 1.29 1.31 8.11% PACAM Fixed Income Fund 11.20 11.28 1.58% PACAM Money Market Fund 10.00 10.00 13.96% 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 152.30 155.22 18.35% 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 1.50 1.50 1.17% 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 2,376.98 2,395.74 5.95% Stanbic IBTC Bond Fund 180.14 180.14 2.09% Stanbic IBTC Ethical Fund 1.10 1.11 9.41% Stanbic IBTC Guaranteed Investment Fund 224.57 224.70 1.99% Stanbic IBTC Iman Fund 188.76 190.94 5.41% Stanbic IBTC Money Market Fund 100.00 100.00 15.50% Stanbic IBTC Nigerian Equity Fund 10,572.31 10,714.16 9.32% Stanbic IBTC Dollar Fund (USD) 1.07 1.07 0.94% 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 1.44 1.46 18.79% United Capital Bond Fund 1.58 1.58 16.02% United Capital Equity Fund 1.02 1.04 11.61% United Capital Money Market Fund 1.00 1.00 14.88% United Capital Eurobond Fund 103.30 103.30 10.23% United Capital Wealth for Women Fund 1.12 1.12 25.55% 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 13.78 13.99 10.02% Zenith Ethical Fund 13.87 14.03 4.84% Zenith Income Fund 19.29 19.29 1.86%

REITS NAV Per Share

Yield / T-Rtn

10.00 133.01

-11.35% 0.42%

Bid Price

Offer Price

Yield / T-Rtn

12.78 168.56 126.63

12.88 172.28 129.03

5.42% 18.06% 15.92%

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

5.83 10.43 20.40 23.17 153.65

5.87 10.51 20.50 23.37 155.65

22.81% 8.99% 14.81% 17.68% 3.40%

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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WEDNESDAY, JANUARY 31, 2018˾ T H I S D AY

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

Putin Jokes He’s ‘Offended’ Not to Be on US ‘Kremlin List’ Russian President Vladimir Putin on Tuesday joked that he was “offended” the US Treasury had not included his name in a list of officials and business leaders eligible for sanctions, AFP reported. “I am offended, you know,” Putin told his supporters with a smile, quoting a famous line from a popular Soviet-era movie. Putin was speaking after the US Treasury released a long-awaited list of Russian officials and business leaders eligible for sanctions under a law designed to punish Moscow for its alleged meddling in the election that brought Donald Trump to power. The list features the

names of most of the senior members in Putin’s administration including Prime Minister Dmitry Medvedev and Foreign Minister Sergei Lavrov and 96 business people the US considers “oligarchs” close to Putin. Putin called the release of the list an “unfriendly step” that he said would further complicate USRussian ties as well as international relations in general. But, he said, Russia would for now refrain from implementing reciprocal steps. “We are not interested in curtailing our ties with the United States,” he told supporters in televised remarks. “We are not going to

look for trouble, (and) aggravate relations,” he said. “We know what we want. We want to build

long-term, stable ties (with the US) based on i n t e r n a t i o n a l l aw.” Putin is widely ex-

pected to win a fourth p re s i d e n t i a l t e r m i n March elections, extendi n g h i s K re m l i n t e r m

until 2024 and becoming the longest-serving Russian leader since dictator Jo s e p h S t a l i n .

Kenyan Opposition Leader Odinga Sworn in As ‘People’s President’ Kenyan opposition leader Raila Odinga held a mock inauguration Tuesday in front of thousands of supporters, as the government sparked outrage by shutting down key media broadcasters covering the event, AFP reported. Authorities have repeatedly warned that such an inauguration was treasonous and that Odinga could face arrest. However as the wording of the oath was different to

that in the constitution, the consequences of Odinga’s act of political theatre were unclear. “I Raila Amolo Odinga, in full realisation of the high calling, assume the office of the People’s President of the Republic of Kenya,” he said in the brief and chaotic ceremony, prompting the sea of people to erupt with joy. “We have accomplished our promise to Kenyans,” said Odinga before quickly

departing, the packed venue emptying out in minutes. The ceremony followed hours of uncertainty as supporters waited in the baking sun and commentators speculated over whether the 73-year-old would actually go through with the “inauguration” that was already delayed in December. It also came as outrage hit the media after the government allegedly warned broadcasters not to cover

the event, and pulled major television network Citizen TV off the air mid-morning, while also blocking transmitters of NTV. “President (Uhuru) Kenyatta expressly threatened to shut down and revoke the licences of any media house that would broadcast live,” the Editors’ Guild said in a statement, referring to a meeting that media bosses were summoned to last week.

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NEWSXTRA

You Can’t Probe Governors Without State Assembly’s Nod, Court Tells EFCC Commission to appeal ruling Paul Obi ÓØ ÌßÔË ËØÎ Victor Ogunje ÓØ ÎÙ ÕÓÞÓ The Governor of Ekiti State, Mr. Ayodele Fayose, yesterday got a major reprieve as a Federal High Court in Ado Ekiti declared that the Economic and Financial Crimes Commission (EFCC) cannot probe states finances without a report of indictment from state Houses of Assembly. The declaration was made in a judgment delivered in a suit filed by Ekiti State Government against the EFCC, Inspector General of Police (IG), Speaker, Ekiti State House of Assembly, Clerk and 13 others. The state’s Attorney General filed the suit after the commission sent letters of invitation to some government officials seeking details over some financial transactions of the state. The EFCC also sent letters to the banks seeking financial books of the state in their custody. In his judgment, Justice Taiwo Taiwo held that financial institutions are not entitled to submit or release to or any manner whatsoever to disclose to any person, body or agency, including the EFCC and IG, or any other investigating body, any document, financial records

among others. Citing Sections 128 and 129 of the 1999 Constitution, the court averred that the EFCC cannot usurp the oversight functions vested in state assembly or initiate a probe or criminal proceedings against a state official. It said only the state legislative is vested with oversight and investigation role over state finances, appropriation and implementation after receiving a formal report from the Auditor General or the Accountant General as the case may arise. “It is unassailable that there is separation of powers. Under a federal system, section 4, 5 and 6 of the Constitution provides separation of powers which guarantees independence and disallow encroachment of powers. “The power for the control of funds, financial outflow, appropriations are vested in the House of Assembly. “It is the Auditor General of the state that has the power to conduct checks on all government corporations and to submit his report to the assembly. “Nobody including the court can read other meaning into the clear provision of the constitution.

“The assembly has the responsibilities on the management of funds by the executives. They have the responsibility to ensure fund management, cut wastages, reject corruption, “The first defendant (EFCC) is bound to operate within the constitution and cannot operate like the lord of the manor. It is statutory duty is not a licence to contravene the constitution. “I can’t by any stretch of imagination see how the statutory functions of the (EFCC) can extend to a state in a federation under any guise to the extent that the eight to 18 defendants (banks) will be directed to submit bank details. “Yes, the first defendant can investigate any person or

corporate organisation, what it can’t do is to usurp the powers of the assembly.” While lauding the judgment, counsel to Fayose, Chief Mike Ozekhome (SAN), rapped the EFCC, describing the judgment as a watershed in the country’s judicial administration that will help in curbing the excesses of the anti-graft agency. Ozekhome said: “The court made it clear today (yesterday) that the EFCC is not an omnibus, rampaging policeman or guardian agent that monitors state finances, receipts, expenditure and use of state finances and that that is the job of the state assembly and the doctrine of separation of power.

“The court said it has the powers to investigate financial crimes against persons, an individual, a corporate body, it didn’t say against the state government as the judge rightly said. “If a state feels there is a financial misappropriation against an official of the state, can invite the anti graft agency such as the EFCC, police or the ICPC but not for the EFCC to become a monitor general at the door step of each state of the federation watching how much that have been appropriated to that state under Section 162 of the 1999 Constitution and how it was being utilised, or that money is being used or whether the

money is being wasted.” However, the EFCC has said it will appeal the ruling. Responding to the ruling, EFCC Head of Media and Publicity, Wilson Uwujaren, said: “The commission has applied for a certified true copy of the ruling of the Federal High Court, Ado Ekiti. “We will study it and avail ourselves of the right of appeal. The EFCC is confident that the judgment cannot stand,” Uwujaren added. Though Uwujaren will not state a definite date when the appeal would be filed, he explained that efforts would be made to speed up the process of appeal.

Ekwueme Exhibited Uncommon Political Selflessness, Says Ekweremadu Ejiofor Alike The Deputy Senate President, Ike Ekweremadu, has stated that the late former Vice President, Dr. Alex Ekwueme, exhibited uncommon political selflessness, equanimity, and sportsmanship at a critical point in Nigeria’s quest for democratic rule. In his tribute to Ekwueme, the deputy senate president argued that not many Nigerians would lose the presidential ticket of a political party they laboured so hard to build and keep their cool. Ekweremadu stated that many Nigerians had expected Ekwueme to bring down the roof over his loss of the Peoples Democratic Party (PDP) ticket, but the former Vice President instead congratulated Chief Olusegun Obasanjo and worked for his success at the polls. According to the deputy senate president, Ekwueme also remained a loyal party man till death, thus establishing himself as a lesson in politics without bitterness. He described Ekwueme as a highly detribalised Nigerian, who mastered the art of love for the country, stressing that Ekwueme also mastered the art of politics with local flavour.

“You stood by your people during their most challenging and difficult times, the civil war, offering your undiluted professional service in the design and development of access to the air for Ndigbo,” Ekweremadu said. “History will be kind to you for your bravery in rallying the G-34 to challenge the military hegemony over Nigeria and join forces with other pro-democracy activists to enthrone the democracy we enjoy today,” he added. Ekweremadu added that Ekwueme was an erudite scholar, a deep and cerebral political thinker, who saw tomorrow. “You foresaw the many challenges and setbacks faced by the nation today. Unfortunately, your timely suggestions such as restructuring, single term, and rotational presidency are yet to be heeded to save Nigeria from the social, economic, and political mires. Your farsightedness underlines the words of our fathers that what an elder sees sitting down, the child may never fathom even if such a child perches on the peak of the Iroko tree. This nation, therefore, owes it to your memory to restructure Nigeria in order to build a nation you and other sages past dreamt of,” Ekweremadu explained.

SAI BABA

President Muhammadu Buhari on arrival from the 30th Session of the Africa Union (AU) Summit in Addis Ababa, Ethiopia to Abuja.... yesterday

World Bank’s Support to Nigeria, Others Hits $14bn Ndubuisi Francis ÓØ ÌßÔË The World Bank Group yesterday disclosed that its support to fragile states, including Nigeria through the International Development Association (IDA) has doubled to more than $14 billion. The bank’s Country Director in Nigeria, Mr. Rachid Benmessaoud, who made the disclosure at a conference with the theme: ‘IdeasforAction Africa’ which it hosted in collaboration with the African University of Science and Technology and the University of Lagos, stated that the focus of the programme was to provide opportunities for the youth to contribute to the shaping of Africa’s 2030 Agenda as well as the Sustainable Development Goals (SDGs). The IdeasforAction Africa, he noted, is a potent platform which gives young ones the opportunity to have a say in

the international development debate and provide practical solutions to the world’s most complex problems. According to Benmessaoud, to advance sustainable development and the implementation of the 2030 Agenda, the bank’s strategy was to invest more in people and pursue private sector solutions to maximise finance for development. He added that the bank’s strategy also includes accelerating inclusive and sustainable economic growth through distribution of diversified economic opportunities across sectors and finally, fostering resilience to global shocks and threats. Benmessaoud said: “The underlying challenge remains the need for countries to mobilise domestic revenues, for development to be sustainable. This is because ultimately the ability to implement and sustain these programmes depends on

political will of the government.” He pointed out that development has to be led by each country with emphasis on protecting its most vulnerable and benefitting its poor. “It is a moral responsibility on the part of everyone to do more to help people lift themselves out of both fragility and extreme poverty, to help stabilise the countries they live in, and to give them hope for the future. “Against this backdrop, allocation for fragile states under the International Development Association (IDA) has doubled to more than 14 billion dollars. “With this, we continue to find new and innovative ways to reach the poor and boost shared prosperity,’’ he stressed, imploring young Nigerians to put forth their best ideas and be a part of the innovation which IdeasforAction encapsulates. In his remarks, the President, African University of Science and Technology, Prof. Kingston

Nyamapfene noted that African youths represent the engine of growth and positive change. University, students through the Pan African Materials Institute (PAMI) a programme supported by the World Bank had mathematical solutions for energy, water purification, sustainable building materials and healthcare challenges, he said. Nyamapfene stated: “The concept is to bring the best minds all over Africa to do their Msc and PhDs and in doing so, we challenge them to solve problems in these areas. “We believe that young people can solve Africa’s problems. Over the years, PAMI has come up with several excellent proposals. “However, we have another mile to go and that is to translate these research findings into visible products, goods and services to solve the infrastructure problems in Africa,’’ he said

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NEWSXTRA

Labour Asks FG Not to Transfer Wages to States Solomon Elusoji Organised labour, under the aegis of Association of Senior Civil Servants of Nigeria (ASCSN), has asked the federal government not to consider issues related to the deregulation of wages under the guise of restructuring the polity. In a statement issued in Lagos yesterday, the ASCSN National President, Bobboi Bala Kaigama, and the Secretary-General, Alade Bashir Lawal, urged President Muhammadu Buhari and the National Assembly to reject the recommendation of the committee set up by the All Progressives Congress (APC) and led by the Kaduna State Governor, Mallam

Nasir El-Rufai, which had recommended that labour should be removed from Exclusive Legislative list to the Concurrent List. The labour leaders posited that if wage and other labourrelated matters were removed from the Exclusive Legislative List, governors, most of whom are not paying salaries to their workers, would use the opportunity to further impoverish Nigerian workers and their families. “We, therefore, believe that labour like other institutions such as the army, navy, air force, customs service, immigration, among others are symbols of national unity and should accordingly be retained in the Exclusive Legislative List,” the union

Tears, Tributes As Deji Tinubu Makes Final Journey Home

Ambode, Amosun, Dolapo Osinbajo pay last respects He was a great professional, says LASG

Lagos State Governor, Mr. Akinwunmi Ambode; his counterpart in Ogun, Senator Ibikunle Amosun and wife of the Vice President, Mrs. Dolapo Osinbajo, yesterday led thousands of friends, family members, colleagues and well wishers to pay their last respect to late Deji Tinubu who passed on last Thursday. At a well attended lying in state and funeral service held at the Redeemed Christian Church of God , City of David Parish in Victoria Island, Lagos, tributes, eulogies and tears poured in freely for Tinubu, who until his demise was the Special Adviser to Ambode on Commerce, Industry and Cooperatives. Deji had slumped while playing a novelty football match with some members of the State Executive Council at the Jubilee Chalets in Epe on January 25, 2018. In a special tribute in memory of Deji published in the funeral service brochure and signed by the Secretary to the Lagos State Government (SSG), Mr. Tunji Bello, described him as a great professional who devoted time to the service of humanity. “He was an engineer, but he was also an engineer of sports. He was both sports man and sports lover. But he was unforgettable as a sports administrator. Those who followed him knew him as a symbol of service to humanity. “We had seen him enliven us on television screens and through radio waves. He was an enthusiast and an analyst. He probed the game and predicted. He pointed out weaknesses and strengths. He saw flair, he saw style, he celebrated goals. He delighted in them and infected all who listened or watched him with his full vigour and vitality about living,” the Lagos State Government said. Speaking at the service, Amosun described the late Deji as a man who had a deep passion for football and sports in general. “The last time I saw Deji was when he came to identify with Segun Odegbami’s 10th

anniversary of his sports academy. Little did I know that Deji would answer the final call on January 25 which happen to be my birthday. Deji was full of life and had a deep passion for football,” Amosun said. He commiserated with Ambode and the state government, adding that Deji’s call to glory was an act of God. “God’s ways are not our ways, when it happens like this, we have to thank Him. With all what have been said about him clearly show that we have to be thankful to God for his life in the 54 years he spent with us,” Amosun said. Wife of the Vice President, Mrs. Dolapo Osinbajo, who prayed for the family of the deceased, urged them to take comfort in God, while praying that God will sustain his wife and children. In his sermon, Pastor in Charge of RCCG, City of David, Idowu Iluyomade, said Deji was a quintessential gentleman and a pillar, who contributed in no small way in building the house of God. “I have known Deji for 22 years. He was a giver and a lover of football. To the family, I want you to take solace in the fact that everyone of us will die or be raptured. Today we celebrate Deji because we know he’s in a better place. Nobody took his life, he died at the appointed time,” he said. Taking his sermon from Isaiah 43 verse 2, Iluyomade urged the congregation to see Deji’s death as a reminder of the futility of life and the need to submit their lives to the almighty God. Among other dignitaries present at the service included President of Dangote Group of Companies, Alhaji Aliko Dangote; former Governor of Anambra State, Dr. Peter Obi, Senator Olorunnimbe Mamora, Mr. Dele Momodu, Senator Tokunbo Afikuyomi, members of the Lagos State Executive Council, Body of Permanent Secretaries, members of the Lagos State House of Assembly, sports aficionados among others.

said. The ASCSN chieftains recalled that the Chairman of the committee, El-Rufai, had been waging a war of attrition against trade unions in Kaduna State and at a time tried to dissolve all trade unions there by demanding that thousands of workers in the state should reapply to join any trade union of their choice contrary to extant labour laws, judicial pronouncements, and Conventions 87 and 98 of the International Labour Organisation (ILO) on the right of workers to organise and collective bargaining. “As we speak, he has issued a circular stopping check-off deduction from salaries of union members in the state. “Recently, Governor ElRufai in continuation of his anti-workers’ agenda, also sacked 21,000 teachers in Kaduna State apart from other atrocities he has been

unleashing on helpless workers in the state. “Thus, it is not surprising that the governor has used the cover of the APC restructuring panel to want to completely decimate the trade unions in Nigeria by recommending that wage and other related labour issues should be removed from the Exclusive Legislative list to the Concurrent List to give El-Rufai and his fellow governors the opportunity to start paying peanuts as wages to their workers or no salary at all,” the union regretted. The ASCSN leaders warned that anarchy would prevail in the industrial relations arena in the country if millions of workers in the 36 states of the federation would start to form their own trade unions and wondered how many trade unions would exist in the state and how negotiation would be carried out. They regretted that in the 21st century, those who parade

themselves as governors and politicians in the country are incapable of comprehending the fact that all countries of the world fix National Minimum Wage below which no worker should earn precisely because the welfare of the people is the main reason why governments exist in the first instance. “But in Nigeria, El-Rufai and his cohorts believe that enormous public resources are for them, their families, and a handful of their sycophants to rampage and pillage,” the union stressed. According to the ASCSN, countries of the world that have National Minimum Wage include but not limited to United States of America, 15,080 dollars per annum; United Kingdom, $20,063 dollars per annum; Australia, $26,862 per annum; Albania, $2,320 per annum; Argentina, $8,368 per annum; the Bahamas, $10,920 per annum; Brazil, $3,491 per annum. Others are Canada, $17,027

per annum; Fiji, $3,189 per annum; Hong Kong, $9,245 per annum; Iran, $3,610 per annum; Ireland, $21,199 per annum; South Korea, $13,499 per annum; Morocco, $3,664 per annum; Cape Verde, $1,565 per annum; Republic of Congo, $1,821 per annum; Equatorial Guinea $2,611 per annum; Nigeria, $591 per annum; The Union leaders regretted that the El-Rufai panel could not bother itself to do any research to establish the fact that all countries of the world have National Minimum Wage. The ASCSN accordingly urged the National Assembly, civil society groups, religious leaders, prominent citizens, royal fathers, etc to rise up and reject the attempt by the APC through Governor El-Rufai to further impoverish millions of Nigerian workers and their families by removing wage and other labour related issues from the Exclusive Legislative List to the Concurrent List.

Kwara Gov: Saraki and I Have No Plan to Return to PDP Kwara State Governor, Alhaji Abdulfatah Ahmed, has debunked claims in certain quarters that he is planning to return to the Peoples Democratic Party (PDP), which he left with some other chieftains of the party prior to the 2015 general election In a statement yesterday by his Senior Special Assistant on Media and Communications, Dr. Muyideen Akorede, the governor said he, Senate President, Bukola Saraki and other political leaders in the state have no reason to return to the PDP. Ahmed clarified that the insinuations, which emerged from his recent interview with a newspaper, did not suggest that he was planning to leave, rather, he was stating the conditions under which he and other political stakeholders in the state left the PDP. Ahmed emphasised that he, Saraki and other governors left the PDP due to impunity, disregard for the rule of law and lack of inclusiveness in the party at the time following extensive consultations with stakeholders and supporters. He, therefore, declared that he, Saraki, other stakeholders and supporters are committed to the All Progressives Congress (APC) and currently have no intention to crosscarpet to the opposition PDP. The governor also urged those commenting on the matter to read the said interview properly, rather than relying on social media headlines and insinuations to draw uninformed conclusions. Ahmed also advised disgruntled elements within the legacy parties of the APC that are urging him and Saraki to hasten their exit from the party to educate themselves with that interview and be appropriately informed instead of making misguided comments on issues they have no knowledge of. He affirmed his full support for the APC government of President Muhammadu Buhari and commended him for his

strides in governing the country and for the unprecedented federal projects in the state, which he added, were aided by the intervention of Saraki.

The governor also restated that his administration is fully committed to sustaining its ongoing fulfillment of its electoral promises to

Kwarans across all sectors, and refuses to be distracted by uninformed commentaries and political mischief from any quarters.

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Amnesty International Accuses Military of Killing Dozens in Villages 168 killed with impunity in communal clashes Air force debunks allegation of human rights abuse in Numan Ejiofor Alike ÓØ ËÑÙÝ ËØÎ Paul Obi ÓØ ÌßÔË Amnesty International has accused the Nigerian military of killing dozens in villages affected by herdsmen attacks, stressing that the response of the federal government to communal violence is totally inadequate, too slow and ineffective, and in some cases unlawful. The human rights group has also stated that clashes between herdsmen and farmers in Adamawa, Benue, Taraba, Ondo and Kaduna have resulted in 168 deaths in January 2018 alone with the killers getting away with murder. “The government must totally overturn its response to these deadly clashes to avoid this crisis getting out of control. They need to investigate and bring suspects to justice,” said Director Amnesty International Nigeria, Osai Ojigho “Hundreds of people lost their lives last year, and the government is still not doing enough to protect communities from these violent clashes. Worse, the killers are getting away with murder. In some cases where the Nigerian security agencies did respond to communal violence, they used excessive or unlawful force resulting in even more deaths and destruction,” Ojigho explained. The human rights watchdog recalled that on December 4, 2017, the Nigerian Air Force sent fighter jets to fire rockets at villages as a “warning” to deter spiralling communal violence, as hundreds of herdsmen attacked at least five villages in Adamawa State to avenge the massacre of up to 51 members of their community, mostly children, the previous month in Kikan. Amnesty stated that when its team visited the villages in the aftermath of the air raids, the team gathered witness testimony from residents who described being attacked by a fighter jet and a military helicopter as they attempted to flee. “Launching air raids is not

a legitimate law enforcement method by anyone’s standard. Such reckless use of deadly force is unlawful, outrageous and lays bare the Nigerian military’s shocking disregard for the lives of those it supposedly exists to protect,” said Ojigho. The Nigerian Air Force’s (NAF) director of public relations, Air Commodore Olatokunbo Adesanya, was quoted in local media describing the air raids as “warning shots – not shots to kill.” He said they prompted people to flee the area, and that they had had a “positive effect.” Amnesty added that two weeks after the incident, Adesanya revised the account, adding that the herdsmen had opened fire on the aircraft. Adesanya was also quoted as saying that the air force recorded video footage of the operations, which involved an Alpha Jet and an EC 135 helicopter. Amnesty International called on NAF– which has received intensive training from the UK and US militaries in recent years –to hand over the footage of the incident and all relevant information to the authorities, including the Attorney-General of the Federation and Minister of Justice for investigation. “This is unlawful and excessive force on a catastrophic scale. It is yet another tragic example where Nigeria’s armed forces are found applying deadly military tactics to law enforcement situations,” Ojigho said. “The Nigerian authorities must investigate these attacks and, where these investigations indicate criminal responsibility, prosecute those responsible and bring them to justice,” Amnesty International added. According to the rights group, the air raids occurred in the villages of Lawaru, Dong, Kodomti, Shafaron and Nzuruwei, where Amnesty International interviewed a total of 15 witnesses. “Locals in each village also provided Amnesty International with lists of the dead, which

Sokoto APC Adopts Tambuwal for Second Term The Sokoto State chapter of the All Progressives Congress (APC) said it has adopted Governor Aminu Waziri Tambuwal as its candidate for the 2019 governorship election. The Chairman of the party in the state, Alhaji Usman Sulaiman, said they are convinced of what Tambuwal has achieved as a governor so far, and would continue to support him to render more quality service to the people. “As a party, we will support him not only for second term but for third and fourth term if such would be allowed by the constitution. Governor Tambuwal has performed credibly well despite some

challenges occasioned by the economic situation in the country,” he added. The chairman said other areas of achievements include payment of salaries, pensions and gratuities, revamping of the education sector, and the huge impact Tambuwal has made in the social sector. “When we lost our indigenes in Saudi Arabia during the Hajj stampede, Tambuwal paid N500,000 to each of the families of the victims. That is the only support they got from the authorities. For that and many, we will be eternally grateful to the Governor,” he noted.

totalled 86 names. As the herdsmen shot people and torched homes, and the air raid resulted in fire, it was not possible to establish how much of the death and destruction was a direct result of the air attacks or attributable to the attack by herdsmen,” Amnesty International said. “Based on witness testimony, field observations, determination of the nature of weapons used as well as analysis of photographic and satellite images Amnesty International believes that the air raids caused significant destruction, and estimates that they were responsible for at least 35 deaths and numerous injuries. Witnesses involved in the identification and burial of the victims said that 51 had gunshot or machete wounds, while the remaining 35 died as a result of the airstrikes in Dong, Shafaron, Lawaru and Kodomti,” Amnesty International said.

However, the Nigerian Air Force (NAF) has debunked allegations that it committed human rights abuses in Numan, Adamawa State. According to NAF Director of Public Relations and Information, Air Vice Marshal Olatokunbo Adesanya, the allegations are far from the truth. He said: “The attention of the Nigerian Air Force has been drawn to allegations by Amnesty International of human rights abuses reportedly committed by the NAF in some villages around Numan in Adamawa State on December 4, 2017. “In the first place, it is very unfortunate that a highly respected international organisation such as Amnesty International would make such unfounded allegations. “At no time has the NAF been involved in settling any ‘herdsmen-farmers’ clash in the Numan general area as alleged

by Amnesty International.” Adesanya explained that “it is particularly disturbing that an organisation of the stature of Amnesty International would believe a ridiculous story that the pilot of an aircraft flying at a high speed would be able to distinguish between a herdsman and a local farmer before deciding which one to ‘bomb.’ “Indeed, at the time the NAF intervened in the crisis around Numan on December 4, 2017, there were no two distinguishable groups clashing. “Rather, only one group of hoodlums was seen unleashing mayhem on villages near Numan. The NAF remains a highly professional organisation, which places high value on respect for human rights, and therefore categorically states that the allegations by Amnesty International are lies.” He further stated that “in

actual fact, the intervention of the NAF in the Numan crisis of December 4, 2017, resulted in the successful dispersal of a group of hoodlums who were setting some villages around Numan on fire. “To set the records straight, in the early hours of December 4, 2017, a NAF Intelligence Surveillance and Reconnaissance (ISR) platform departed Maiduguri to conduct ISR over Numan general area, Adamawa State. “This was in response to a request by the General Officer Commanding (GOC) 3 Armoured Division of the Nigerian Army, following reports of clashes around that location. “Hundreds of people, mostly dressed in black attires and who appeared armed, were sighted ransacking and setting a village on fire. In addition, the hoodlums set large portions of farmlands ablaze.”

SECURITY IN FOCUS

L-R: Representative of President Muhammadu Buhari and Minister of Interior, Lt General Abdulrahman Danbazzau (rtd); Rivers State Governor, Nyesom Ezenwo Wike; Sultan of Sokoto, Alhaji Sa’ad Abubakar III; Inspector General of Police, Ibrahim Idris; and Chairman of Rivers State Council of Traditional Rulers, King Dandeson Jaja, at the ninth General Assembly of the National Council of Traditional Rulers of Nigeria in Port Harcourt....yesterday

Ngige Denies FG’s Spending N1bn on Ekwueme’s Burial Senator Iroegbu ÓØ ÌßÔË

According to the minister, he only gave a summary of the The Minister of Labour and number of projects the federal Employment, Senator Chris government has taken to ensure Ngige, has debunked reports that a man who easily was that the federal government will Nigeria’s beacon of democracy, expend the sum of N1 billion was given a decent burial. for the burial of the former Vice He said he was preempted President, Dr. Alex Ekwueme. by the rhetoric of cynics and Ngige in a statement detractors who could have yesterday, described as easily run to town to claim misleading and needless, the the federal government has controversy over his interview abandoned Ekwueme in death. on the commitment of the federal Part of the statement read: government to the burial of “For the avoidance of doubt, Ekwueme, as he did not attach what he did as a member of any figure to what he termed the burial planning committee “a deserving national tribute was to give the details of the to one of Nigeria’s foremost road rehabilitation projects from statesman.” the Awka end of the state and

from Abia and Imo State axis , all leading to Ekwueme’s home town of Oko, as well as the medical services, the mausoleum and others. But at no time did the minister attach a figure of N1billion. “An unedited video and audio tape of the interview as recorded by both broadcast and print reporters is easily within reach.” “The minister is an Igbo and knows full well that just as a count is not taken of the number of children a parent is blessed with in Igbo tradition, the same tradition holds the burial rites and attendant expenses even more sacred to warrant such

display of figures. “However, it is important to add that such pieces of information in an administration such as ours that is anchored on openness, and buoyed by the Freedom of Information could be at the finger tips of any investigative reporting.” Ngige added that the Burial Planning Committee was satisfied with the progress of the work and looked forward to a very successful event which has already kicked off beautifully and successfully in Lagos, Abuja and Enugu. Again, he said, perhaps, this is what detractors did not wish to see.

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House C’ttee Orders Amaechi to Tender Papers on Contracts Awarded to Israeli Security Firm Decries poor funding to AuGF James Emejo ÓØ ÌßÔË The House of Representatives Committee on Public Petitions yesterday ordered the Minister of Transportation, Rotimi Amaechi, and other stakeholders to within 72 hours, submit all documents relating to the award of contract to an Israeli security firm to secure the Nigerian waterways. The Committee Chairman, Hon. Uzoma NkemAbonta (PDP, Abia), issued the ultimatum after series of meetings with relevant

stakeholders failed to produce the contract papers as requested by the committee. Speaking during an investigative hearing, Abonta said: “We’ve been demanding this document and this about the eighth hearing on this issue. “If the contractual documents and agreements could not be produced within the next 72 hours we’ll be forced to close this matter and make our recommendations to the House. A member of the committee, Hon. Rotimi Agunsoye, said

Ogun Foremost Educationist, Jiboku Dies at 67 Femi Ogbonnikan ÓØ ÌÏÙÕßÞË A foremost educationist in Abeokuta, Ogun State, Chief Abayomi Jiboku, is dead. The late Egba high chief was said to have been hospitalised for almost four months before his passage in the early hours of yesterday at the age of 67. He was until his death, the proprietor of Taidob Group of Schools, Obantoko, Abeokuta. A reliable source said the deceased who was the Oluwo of Oke -Ona Egba, died at an undisclosed hospital in Lagos. Jiboku was once the President of the National Association of Proprietors of Private Schools (NAPPS), Ogun State chapter. During his tenure, he made tremendous contributions to the growth and development of the body. The Iyalode of Yorubaland, Mrs. Alaba Lawson, confirmed the passage of the Egba high chief and described him as a lover of humanity and good soul. She said: “He was a lover

of humanity and a good soul whose departure would be greatly missed by the entire Egbaland.” Meanwhile, Governor Ibikunle Amosun has mourned the death of the foremost educationist. Amosun described the death of the proprietor of Taidob Group of Schools, as a great loss to the education sector in the country, as it came at a time when his counsel would have been vital in efforts at reviving the falling education standard in the country. In a statement signed by the state Commissioner for Information and Strategy, Otunba Adedayo Adeneye, the governor said the deceased was a force in the success story of private education in Ogun State. “Jiboku consistently championed the cause of quality education, which is one of the hallmarks of our dear state”, he sad, adding that his he was also in the forefront preserving the Yoruba cultural heritage.

there was no point giving the stakeholders extra 72 hours since tax payers money was involved, suggesting that the matter be closed. But Abonta insisted on giving them the benefit of the doubt, stressing that “after 72 hours we can close the matter. “For now, my ruling is that all relevant stakeholders should stay action in all activities pending the outcome of House resolution on the issue. “We have wasted so much parliamentary time in this issue that we will close the matter immediately after 72hours. About 10 Civil Society Organisations, CSOs had last October petitioned the Minister of Transportation and others that awarding such a contract to a foreign firm to secure our waterways will amount to ceding the country’s territorial waterways.

However, in a a separate development, Chairman House Committee on Public Accounts, Hon. Kingsley Chinda (Rivers, PDP) has decried the insufficient funding of office of the Auditor General of the Federation (AuGF) to enable it carry out its functions effectively. He noted that the war against corruption cannot be won without proper funding of the office of the AuGF. He said :”Without an independent office of the auditor general in a country you cannot succeed in the war against corruption. “A lot is revealed by the report of the auditor general but that office is not empowered, it is not funded, it is deliberately starved so it is handicapped. “An office that will audit the office of all the Ministries, Departments and Agencies

including the international missions, what will a hundred million do to carry out that task. `”Let it not be that we are deliberately clipping the hands of that office to frustrate it. ``This is the kind of institution that should be empowered to fight corruption, it is not about going after individuals so I should ask that the office of the auditor general be empowered to do its job.” While calling on the Senate to pass the audit bill expeditiously, Chinda said that the Public Accounts Committee in the House of Representatives will go hard on MDAs that present falsified documents before the committee. He said:``Where we suspect that the documents are falsified we will invite the Economic and Financial Crimes Commission (EFCC) because we

believe they have the capacity to conduct a forensic test. ``And whatever report we receive from them determines the final decision we take whether to refer the matter to court for prosecution or to acquit and discharge the merit of that query.” He added that the committee is working assiduously to submit a report on audit of MDAs that will assist the Federal Government in the fight against corruption. The committee’s vision is to lay a report, he said. He said:”We have been working assiduously to break that jinx that the public accounts committee had hardly laid any report before the National Assembly, so if we do that and the report is considered, Mr president will enough in his hands to check corruption in MDAs.

First Private Medical University in Nigeria Begins MAY HIS SOUL REST IN PEACE Cross River State Governor, Professor Ben Ayade, accompanied by his deputy, Professor Ivara Esu, during the signing of the condolence register in honour of the former Vice President, Chief Alex Ekwueme, in Government House, Calabar.....yesterday Admission of Students The first private medical A statement by the Registrar university in Nigeria, PAMO of the institution, W.U.G. Afenifere Wants Security Architecture Reorganised, University of Medical Sciences Imoedemhe, said applicants (PUMS), Port Harcourt, has are expected to have five credit Removal of Defence Minister commenced undergraduate admission for its first batch of applicants for the 2017/2018 academic year. The university which was recently licensed by the federal government, is the first full-fledged private medical university in the country. The take-off faculties are: Faculty of Basic Medical Sciences and Faculty of Clinical Sciences. Suitably-qualified candidates are invited for screening and admission into undergraduate degree programmes in the two faculties. The programmes include Anatomy, Biochemistry, Human Nutrition and Dietetics, Pharmacology and Physiology for Faculty of Basic Medical Sciences as well as Bachelor of Medicine and Surgery (MBBS) for the Faculty of Clinical Sciences.

passes at SSCE (or equivalent) in relevant subjects (Physics, Chemistry, Biology, English Language and Mathematics), at not more than two sittings and, must have scored 200 and above in the 2017/2018 Unified Tertiary Matriculation Examination (UTME) in relevant subjects. The statement said interested applicants who have applied for the Joint Admissions Matriculation Board (JAMB) for admission and wish to change their first choice to PUMS are required to apply for Change of Institution through JAMB and then apply online at www. pums.edu.ng to participate in the screening/clearance exercise. It added that application form should be completed online through the university website at www.pums.edu. ng.

James Sowole ÓØ ÕßÜÏ

The Pan Yoruba socio-political organisation, Afenifere, yesterday called on President Muhammadu Buhari to immediately reorganise the country Security architecture to reflect the diversity of the country. The call was one of the high points of the communique issued at the end of its monthly meeting held at the Ijapo, Akure, Ondo State residence of the leader, Chief Reuben Fasoranti. At the meeting attended by notable leaders and members from the six South-west states, Kwara and Kogi States, the organisation declared that “the current situation where 16 out of 17 service chiefs in the country are from a section of the county is unhealthy and unacceptable.” In the communique read by its National Publicity Secretary,

Mr. Yinka Odumakin, Afenifere called for immediate removal of the Minister of Defence, Brig Gen Monsur Dan Alli (rtd), for his insensitivity to the killings of Nigerians.” “The organisation said removing the minister is the only way to show that the lives of Nigerians still count. Afenifere expressed worries about what was described as the huge killings field Nigeria has become in recent times in the hands of armed Fulani herdsmen/militias. It stated that the situation was evident in the New Year massacre in Benue State, the killings in Adamawa, Taraba, Ekiti, Plateau, Ogun, Ondo and other states in Nigeria. “This has been accompanied by arsonists attacks on the farms of Chief Olu Falae, Mr. Dele Adigun, Vice Admiral Samuel

Afolayan, Chief Bisi Rodipe, and several other plantations across the country. “These killings and arsonist attacks now wear the garb of state approved given the loud silence of the president over these dastardly acts and in fact asking the Governor of Benue State to find accommodation with the killers. “The Inspector General of Police (IG) has also said the killers are Nigerians while the Minister of Defence has blamed the killings on the promulgation of anti-open-grazing law and the blockage of grazing routes in an official sanctioning of the horrendous killings. “Nigeria today has become a primitive and barbaric enclave as the state is either complicit or unwilling to stop these dastardly acts,” it stated. The organisation therefore

called on the president to rise up to the challenge of his office by addressing the country directly on these developments that threaten the corporate existence of Nigeria and ensure the killings are stopped and the perpetrators brought to book. Also, Afenifere demanded the immediate disarming of all Fulani herdsmen carrying AK 47 all over Nigeria. The organisation expressed stiff opposition to the proposal of the federal government to establish cattle colonies in states of the federation. “We reject cattle colonies as the concept is offensive, repugnant, and an affront on the rights of non-Fulani communities across Nigeria as their lands would now be forcefully acquired and be subjected to an alien culture and rule in the name of cattle rearing.

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Go and Read Obasanjo’s Letter again, NIM Tells Buhari Doubles down on necessity of Third Force to save country Tobi Soniyi ÓØ ËÑÙÝ The Nigeria Intervention Movement (NIM) which is mobilising Nigerians to oust President Muhammadu Buhari and his All Progressives Congress (APC) has called on the president to go back and read the letter sent to him by a former president, Chief Olusegun Obasanjo. NIM in a statement issued yesterday in Lagos, also said it was willing to open talks and alliances with any offshoot coalitions emerging from Obasanjo clarion call and would be willing to bring them onboard the third force agenda for Nigeria. In the statement which was signed by MIN’s Deputy Director General (Media and Publicity Bureau), Mr. Naseer Kura, the group said it has members in all the 36 states of the federation, the Federal Capital Territory and in the Diaspora. It said: “There are states and local government areas facilitators in all the states as well as the FCT. NIM has zonal chairpersons who are responsible for providing leadership and coordination of the 6 geo-political zones. There are national officers who are all members of the National Steering Committee.” Reacting to the federal government and the APC’s responses to Obasanjo’s letter, NIM said it was obvious that neither the APC nor the federal government had read the letter thoroughly. It then advised Buhari to go back and read the letter again and response to each and every item raised therein. It said: “Obasanjo’s letter of January 23, 2018, raised a number of issues where the Buharis’ government ought to have done better given the rare goodwill received from Nigerians by the administration but which it failed to appreciate. “However, some sympathisers of the present regime have since raised questions as to the motive behind the writing of the letter by Obasanjo. “On the part of NIM, the

issues raised by Obasanjo in his letter are germane and are in tandem with the views expressed late last year in NIM’s statements on the worrisome state of the country. “Despite the response of the federal government, which suggests that it has not taken time to read the letter, as its response was a feeble attempt at defending its obvious, verifiable failures, while also employing deliberate ‘scapegoatism’, we wish to call on President Buhari to read the letter again, accept responsibility, isolate the issues and address them. NIM believes that if this government means well, it still has enough time and the resources to address the concerns raised in the letter.” While applauding Obasanjo’s endorsement for the third force initiative, NIM said it was willing to open talks and alliances with any offshoot coalitions emerging from Obasanjo clarion call and shall be willing to bring them onboard the third force agenda for Nigeria. According to the group, the swift, positive response of the Nigerian people to the overriding philosophy and the message of NIM is a clear manifestation that NIM holds a shared vision with the majority of the Nigerian populace and that its emergence was demand driven. “This is underscored by the recent, historic statement by Obasanjo, whose clarion call on like-minded Nigerians from different states and regions of the federation, different religious beliefs and backgrounds, groups of Nigerians from different professional and sectoral leanings should come together to create an environment for the realisation of the citizens’ potential and aspirations,” it added. NIM said Obasanjo’s views clearly resonated with the basic principle and goal of the NIM which necessitated its formation on November 28, 2017. The group said it welcomed the Prince Olagunsoye Oyinlola-led Coalition of Nigeria Movement (CNM), an earlier launched Wale Ajani-led

Coalition of Nigeria Movement (CONIM) as well as other groups such as Revive Nigeria Group, Restoration Group and others that aim to lead the country out of the current precipice. NIM said it also welcomed all men and women of goodwill across the country who are determined to see Nigeria out of the woods. It said it had been inundated on a daily basis with calls and inquiries for membership and support from Nigerians from across the length and breadth of the country and in the diaspora. NIM said it had members in all the states of the federation and the Diaspora. Boasting of its spread across the country, NIM said: “There are states and local government areas facilitators in all the states as well as the FCT. “NIM has zonal chairpersons who are responsible for providing

and consistent in promoting the fraternity that binds us together in terms of our shared humanity and values such as justice, freedom and liberty bequeathed to us by our forebears who fought the colonialists and secured our independence. “We thank all our members and compatriots for their support in our short period of existence. We call upon them to remain vigilant and ensure that they participate in the democratic process particularly the electoral process by ensuring that everyone of voting age register to vote and get their PVCs ready for the 2019 electoral revolution in Nigeria.” NIM described itself as a political movement recently initiated by credible fresh breed and new generation of leaders of conscience for the actualisation of popular democratic reordering of Nigeria by all citizens, who are committed to replacing the

present foisted warped political order in the country, which has failed to fashion a Nigeria that works for all The group was conceived as a third force movement, for the mobilisation of Nigerians towards changing the socio-political contraption by democratic means on account of the failure of both the ruling All Progressives Congress (APC) and the opposition Peoples Democratic Party (PDP) to utilise the goodwill received from the peoples of Nigeria in the last 18 years NIM said these elitist contraptions were ill-equipped and unprepared for the challenge of transforming our nation from its underdeveloped status to one that is prosperous and creates the environment for the realization of citizens’ potential and aspirations.

PUTTING HEADS TOGETHER Minister of Power, Works and Housing, Mr Babatunde Fashola (left), and Interim Managing Director/CEO, Transmission

Company of Nigeria (TCN),Mr. Usman Gur Mohammed, during the submission of report on consultancy service on 20-year Transmission Expansion Plan (Development of Power System Master Plan for TCN ) to the minister in Abuja....yesterday

NGOs Blame Obasanjo for Nigeria’s Problems

Matthias Asielue Passes On at 84

Oghenevwede Ohwovoriole ÓØ ÌßÔË

The Asielue family in Onicha Ugbo, Aniocha North Local Government of Delta State, had announced the passing on of their patriarch, beloved husband, grandfather and father-in-law, Chief Matthias Okeleke Asielue, who held the chieftaincy title, Uwolo Onicha Ugbo. His transition occurred on December 27, 2017, after a brief illness. A statement issued on behalf of the family by a spokesman, Maurice Asielue, said Asielue was born on November 24, 1933 and lived a distinguished and fulfilled life. The statement also indicated that he attended the University College, Ibadan, graduating from there in 1962 with a BA (Hons) degree in English. On graduation, he joined the Federal Civil Service as an Administrative Officer in the Ministry of Lagos Affairs. In

A Forum of Non-Governmental Organisations in Nigeria (FONGON) has accused former President, Chief Olusegun Obasanjo, of lacking the moral credibility to criticise President Muhamadu Buhari over the happenings in the country. The National Coordinator of the group, Mr. Wole Badmus, who stated this at a press conference aimed at creating awareness for its nationwide rallies to mobilise Nigerians to support President Buhari’s second term re-election project, stated that if the former president had judiciously spent $16billion on power, the country could have generated more than 3,000 megawatts of electricity obtained during his tenure. The forum also accused Obasanjo of always blaming others when he is actually

1963, he was seconded to the Nigerian Army Education Corps as part of the Prime Minister Tafawa Balewa government’s campaign to recruit Nigerian graduate officers to replace British military personnel. Before his stint with the Army Education Corps, no student in the Nigerian Military School at that time had passed English in the Cambridge University School Certificate. However, by his second year, 24 out of 30 students passed English with 13 at credit level. At the NMS, he taught accomplished individuals like retired Brigadiers David Mark who later rose to become president of the Nigerian Senate. Others include retired brigadiers John Shagaya, Tunde Ogbeha and Admiral Okoja, to mention a few. Chief Asielue will be buried in Onicha Ugbo on February 2.

leadership and coordination of the six geo-political zones. There are national officers who are all members of the national steering committee. “The list of the members of the national steering committees is being updated at the moment. There are groups that are in partnership with or have formed alliances with NIM. These partners and allies of NIM are groups or organisations that have their structures and distinct set up but coalescing within NIM’s Rainbow Coalition. These groups and organisations, however, have the same or similar objectives to engender a prosperous Nigeria that works for all with NIM.” The group thanked the media for the wide publicity of its activities. It said: “The Nigerian media has again demonstrated its love for the country. We call upon the media to remain steadfast

responsible for ‘50 per cent’ of Nigeria’s current problems. According to Badmus, “President Obasanjo is a man I respect; he is my elder but he is responsible for 50 per cent of this country’s problems. He does not have the moral credibility to accuse Buhari as he did in his letter. “Power generation was less than 3,000 megawatts even though the administration of President Obasanjo alone had spent $16 billion on power. “After spending eight years, he was still looking for additional four year, only for him to accuse the governors of being the ones who asked him to go for third term. Look at the history of Obasanjo’s letters and books, he has always blamed everyone except one person (himself).’’ FONGON, which claimed to be a coalition of 200 NGO’s with membership strength of

three millions across the six geopolitical zones comprising of all categories of people in the country, said the press conference was called to announce that starting from next week Tuesday, its members would kick-start a nationwide rally in support of the Buhari administration. He added that the rally would start in Abuja, and then move to all the six geopolitical zones, adding that they came together to rally support for President Buhari’s administration because they believe strongly that it has, since assuming office on 29 May 2015, performed creditably in putting Nigeria on the path of growth and development. The group added: “We have chosen to come out this time because there seems to be an orchestrated campaign going on across the country at the moment to demonise the

Buhari’s administration in order to pave the way for the return of the same people who brought the country to where it was before President Buhari launched his rescue mission upon assuming office. ‘’We are concerned that unless an urgent action is taken, the voices of these people, whom we believe are being sponsored by looters and those who have been prevented from turning the country’s treasury to their personal banks, may become the dominant voices. “President Buhari is putting Nigeria on a solid footing. He has what it takes to do it. All he needs is the support of Nigerians. Had every administration since 1999 done half of what this administration is doing now, it would have been easier for the administration to build on their efforts. But it is tough having to build from the scratch.”

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NEWSXTRA

Buhari Became President in Error in 2015, Says Ex-Jigawa Governor Fayose warns against Obasanjo’s re-absorption into PDP Victor Ogunje ÓØ ÎÙ ÕÓÞÓ

Lamido lauded Fayose for his courage and criticism of the The former Jigawa State Buhari’s government, describing Governor, Alhaji Sule Lamido, the governor’s bravery as an yesterday said Nigerians made impetus to the country’s fledging a grievous mistake by electing democracy and tonic that has President Muhammadu Buhari been spurring the opposition in the 2015 presidential poll. party ahead of the next year’s Lamido, a chieftain of the general election. Peoples Democratic Party (PDP) “You are a man of courage and presidential aspirant, said and a man of character who is Nigeria has never witnessed able to stand up for the people hatred and bloodshed across in spite of intimidation. I respect ethnic and religious divides you, I admire you and like since independence as being you a lot. witnessed under Buhari. “In PDP, we were in power Lamido appealed to party for 16 years, somehow we lost leaders to form a strong alliance out, we should ask the question, against the All Progressives where was Nigeria before PDP? Congress (APC) in 2019, saying: The vision of our founding “We can defeat them easily if we fathers, like Chief Obafemi all share the same thought and Awolowo , Aminu Kano, pains as Nigerians are feeling Ahmadu Bello and Tafawa now.” Balewa had been that there The former governor said this should be a Nigeria populated in Ado Ekiti yesterday during by human beings first not tribes, a visit to Governor Ayodele regions or zones. Fayose to confer with him on “We cannot forge ahead if his presidential aspiration. we are governed by culture

of hate. We are failing today because we have people who are alien to democracy on board. They are exploiting our differences, manipulate our emotions and divided us and gradually turned us into a country where we hate one another. “Fulani, Tiv and Hausa are now killing each other, blood flowing all over Nigeria. God is angry with us in Nigeria. What do we do, the party in power has no political history, only come to divide us, impose culture of hate as intimidation blackmail is the order of the day “If you say your mind, you

would be mocked, democracy is freedom of exposure, his govt is for few individuals without political history, our economy is bastardised,” he said. Lampooning the Buhari’s government for failing Nigeria, Lamido added: “I have come to discuss with you about our party and look at Nigeria in 2019. APC is stealing under the cover of anti corruption fight. In Nigeria, the only hope in 2019 is PDP, because APC is a contraption,” he said. Responding, Fayose described Lamido as eminently qualified to be president of Nigeria, saying he remains one of the

few detrabilised Fulani leaders with capacity and exposure to deliver. “I am among those that would continue to celebrate your contributions to our country. I believe in Fulani people, every tribe has the good and the bad. You are one of the Fulani men that I know have the abilities to perform.” Fayose advised Nigerians not to vote for any retired military man as president, saying the current experience was suffice to teach a strong lesson that only a democrat can deliver. “The military bastardised the system, they destroyed this

country this is why Nigerians should stop voting military men, they are not politicians. “We lived in this country and grew up to know that everyone from any tribe is our brother but when the government fails, the nation fails. APC have no capacity to lead our country. “Some people say APC will rig election, but I tell them, God rules in the affairs of man. Power belongs only to God almighty. “Whether you call it presidential or vice presidential aspiration, all I know is that you will come to visit me in Aso Rock in 2019,” Fayose vowed.

Buhari’s AU Outing, Pass Mark for Anti-graft Agency Sunday Okobi The League of Patriotic Lawyers has stated that President Muhammadu Buhari’s speech on anti-corruption at the just concluded African Union (AU) summit in Ethiopia showed that the world has acknowledged that the Economic and Financial Crimes Commission (EFCC), is truly prosecuting the war against graft. Briefing journalists yesterday in Lagos, Chairman of the pressure group, Mr. Abubakar Yesufu, said Buhari’s outing was a pass mark for Nigeria’s anti-graft agency. According to him, “By allowing President Buhari to speak and head a session on anti-corruption crusade at the conference was a glowing tribute to Ibrahim Magu’s Economic and Financial Crimes Commission’s (EFCC) determination to wrestle corruption to the ground. Indeed, ‘Winning the Fight against

Corruption: A Sustainable Part to African Transformation,’ which was the topic of discussion, was very apt. “We urge President Buhari to ensure that this fight is taken seriously. We also urge him not to allow any attempt at frustrating the anti-corruption team and its leadership. The league warned that the team is being threatened in the discharge of their duties. “Worthy of note and to be addressed is the very incisive letter by ex-President Obasanjo which was written from his Ota fortress to President Buhari. “The league wants the president to declare the criminal elements among Fulani herdsmen a terrorist group. We want the president to address the issue of true federalism like restructuring, devolution of power, fiscal federalism, and state police before the next election in 2019.’’

Bayelsa’s Special Security Outfit Arrests 8,500 Crime Suspects Emmanuel Addeh ÓØ ÏØËÑÙË Over 8,500 suspects have been arrested in the last six years for various criminal offences by the Bayelsa State Special Security outfit codenamed Operation Doo Akpo, the government disclosed yesterday. The Special Adviser to the Governor on Security Matters, Mr. Boma SperoJack, who spoke during the ongoing inter-ministerial briefing in Yenagoa, said government had concluded arrangements to procure additional gunboats to checkmate the activities of pirates in the waterways. He said 16 patrol boats

were acquired in 2012, adding that during the period under review, the security outfit recorded 39,000 distress calls as well as 109 calls appreciating the outfit. He added that the Bayelsa Integrated Security Strategy was a critical aspect of the security outfit, stressing that it has been able to reduce its response time to distress calls to about six minutes within the Yenagoa metropolis Spero-Jack attributed the ‘successes’ achieved over the years to the security surveillance equipment put in place at the command and the state security Control Centre, noting that it was the first of its kind in the country.

MOBILISATION GROUP L-R: National Coordinator, Forum of Non-Governmental Organisations in Nigeria, Wole Badmus, Coordinator, Women

in Support of Democracy, Felicia Andepu; and Coordinator, Igbo Youths in Politics, Mazi Chuzzy Anagwu-Nnodu, during a press briefing by the group on mobilisation for nationwide support for President Buhari’s second term ambition in Abuja....yesterday

UNICEF Seeks $3.6bn Emergency Assistance for 48m Children in Nigeria, Others Senator Iroegbu ÓØ ÌßÔË The United Nations International Children’s Emergency Fund (UNICEF) has appealed for $3.6 billion to provide lifesaving humanitarian assistance to 48 million children living through conflict, natural disasters and other emergencies in 51 countries in 2018. The UNICEF Director of Emergency Programmes, Dr. Manuel Fontaine, in a statement issued yesterday by the Agency Communications Specialist, Ms. Eva Hinds, noted that around the world, violent conflict is driving humanitarian needs to critical levels with children especially vulnerable. According to Fontaine, conflicts that have endured for years, such as those in the Democratic Republic of Congo, Iraq, Nigeria, South Sudan, Syria and Yemen among other countries continue to deepen in complexity, bringing new waves of violence, displacement and disruption to children’s lives. He said: “Children cannot wait for wars to be brought to an end with crises threatening

the immediate survival and long term future of children and young people on a catastrophic scale around the world. “Children are the most vulnerable when conflict or disaster causes the collapse of essential services such as healthcare, water and sanitation. Unless the international community takes an urgent action to protect and provide life-saving assistance to these children, they face an increasingly bleak future. “Parties to conflicts are showing a blatant disregard for the lives of children. Children are not only coming under direct attack, but are also being denied basic services as schools, hospitals and civilian infrastructure are damaged or destroyed. Approximately 84 per cent ($3.015 billion) of the 2018 funding appeal is for work in countries affected by humanitarian crises resulting from violence and conflict. “The world is becoming a more dangerous place for many children with almost one in four children now live in a country affected

by conflict or disaster. For too many of these children, daily life is a nightmare.” Fontaine said the spread of water-borne diseases is one of the greatest threats to children’s lives in crises. He stressed that attacks on water and sanitation infrastructure, siege tactics which deny children access to safe water as well as forced displacement into areas with no water and sanitation infrastructure leave children and families at the risk of relying on contaminated water and unsafe sanitation. He stated that girls and women face additional threats, as they often fulfill the role of collecting water for their families in dangerous situations. “117 million people living through emergencies lack access to safe water in many countries affected by conflict. Also, more children die from diseases caused by unclean water and poor sanitation than from direct violence. “Without access to safe water and sanitation, children fall ill and are often unable to be treated as hospitals and health centres

either do not function or are overcrowded. The threat is even greater as millions of children face life-threatening levels of malnutrition, making them more susceptible to water-borne diseases like cholera, creating a vicious cycle of under-nutrition and disease,” Fontaine added. The Emergency Programmes Director noted that as the leading humanitarian agency on water, sanitation and hygiene in emergencies, UNICEF provides over half of the emergency water, sanitation and hygiene services in humanitarian crises around the world. When disasters strike, he said UNICEF works with partners to quickly provide access to safe drinking water, sanitation services and hygiene supplies to prevent the spread of disease. Fointaine also emphasised the fact that the largest component of UNICEF’s appeal this year is for children and families caught up in the Syria conflict, soon to enter its eighth year. “UNICEF is seeking almost $1.3 billion to support 6.9 million children in Syria and those living as refugees in neighbouring countries,” he said.

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NEWSEXTRA

Lassa Fever Kills Three in Taraba LG officials to supervise burial of sudden death victims

Wole Ayodele in Jalingo Three people have been reportedly killed by Lassa fever in Taraba State following the outbreak of the disease in the state. Besides, three other persons who tested positive to the killer disease have been placed under close monitoring as the total number of cases reported in the state rose to 12. This is coming just as the Chief Epidemiologist of the state, Dr. Udi Aketemo, warned indigenes and residents of the state against eating rat which is a common delicacy in the state. The Surveillance Officer of World Health Organisation (WHO) in the state, Dr. Bello Ahmed, who disclosed this yesterday in Jalingo at a sensitisation workshop on Lassa fever organised by the state ministry of health,

stated that two people died in Jalingo Local Government Area while the third casualty was recorded at Ardo Kola Local Government Area. He further revealed that six local government councils in the state namely; Bali, Gashaka, Gassol, Ibi and Jalingo as well as Ardo Kola have been placed on red alert due to the outbreak of the disease in the councils. Ahmed, who was represented at the occasion by Dr. Zero Philip, noted that the infection rate in the state is now put at 25 per cent which he described as being very high based on the survey conducted across the country between January 1 and 28 among 367 contacts identified across the country. To combat the scourge, he stated that WHO is collaborating with the federal government to develop a test kit for rapid diagnosis

and reduce pressure on the diagnosis centre at Irrua Specialist Hospital in Edo State. According to him, “We are planning a collaboration with the federal government to develop a test kit for rapid diagnosis to complement the diagnosis centre at Irrua Specialist Hospital. “We want to call on the federal government to consider the establishment of at least one diagnostic and treatment centre in each of the zones across the country to effectively tackle the spread of the

disease.” Besides cautioning the people of the state against eating rats, Aketemo equally advised residents to maintain good hygienic practices, eat only well processed foods and adhere strictly to universal best health practices to avoid contacting the deadly disease. Also speaking at the occasion, the state Commissioner for Health, Dr. Innocent Vakkai, said the workshop was part of the state government efforts at creating awareness to mitigate the spread of the

disease. Meanwhile, determined to curb the spread of Lassa Fever in Ondo State, the state government has directed that henceforth, all cases of ‘sudden death’ must be brought to the notice of health officials at local governments. The Commissioner for Health, Dr. Wahab Adegbenro, the directive at a meeting held with caretaker chairmen, state health officials and primary healthcare coordinators in the 18 council areas. The meeting was held at the Cocoa Conference Hall

of the governor’s office in Akure. Adegbenro said burial for all sudden deaths must henceforth be supervised by medical experts to prevent possible spread of Lassa fever that has so far claimed six lives with 27 recorded cases. Also speaking at the meeting, the Commissioner for Local Government and Chieftaincy Affairs, Lola Fagbemi, said funds would be released for advocacy and awareness campaign to end Lassa fever in the state.

ERGP: NEPC Mulls Malaysian Model to Support Exports Jonathan Eze As the federal government intensifies effort to diversify the economy, the Nigerian Export Promotion Council (NEPC) has advocated the possibility of adapting the Malaysian model as part of strategic collaboration to promote Nigeria’s export trade. The Acting Executive Director/CEO of NEPC, Mr. Sidi-Aliyu Abdullahi, disclosed this yesterday while receiving in his office a delegation from Performance Monitoring and Delivery Unit (PEMANDU), a trade promotion organ under the Prime Minister of Malaysia. Mr. Sidi-Aliyu, while noting that the nation’s food import bill was high, stated that the key objective of the Zero Oil Plan (ZOP) initiative of NEPC was to reduce imports by scaling-up production in key sectors of the non-oil export as well as stimulate value addition, job and wealth creation along export value chains. In a statement signed by NEPC Head of Communications, Joe Ita and sent to THISDAY, Sidi-Aliyu disclosed that the Economic Recovery and Growth Plan (ERGP) further complements the ZOP initiative as it is now an integral component of the ERGP with particular emphasis on boosting supply of foreign exchange from non-oil sectors by driving growth in five key areas. These, he said, are concentration on generating US$30billion from 11 strategic products, exploring the competences within the comparative and competitive advantages of States through One State One Product (OSOP) programme, Revenue of Trade Agreements to prioritise Nigerian exports to 22 newly targeted Export destinations, Domestic sourcing of products through launch of first National Export

Aggregator and Strengthening of Export Development Fund (EDF) scheme to enhance competiveness of locally produced goods. The host and leader of the delegation Dr. Effiong Essien, Senior Special Assistant to the President (ERGP Implementation) disclosed that the federal government in collaboration with PEMANDU has established Focused Labs to specifically identify three quickwin sectors, namely: agriculture and transport, manufacturing and processing, power and gas. Speaking in the same vein, Arlene Teo, of PEMANDU Associates said the approach is a proven tool aimed at allowing organisations and governments to achieve results as well as work closely with the highest level of government and top executives to help deliver their national and business objectives in a sustainable and inclusive manner. “Our approach in driving and delivering transformation enables both our public and private sector clients to develop clear strategic direction, which is then, translated into detailed implementation programmes with quantifiable outcomes, and progress effectively communicated to their stakeholders,” he added. He said the main thrust of their visit was to identify areas of cooperation with the council as well as share the Malaysian experience with a view to improving the volume, quality and standards of Nigeria’s exportable products. PEMANDU’s main role and objective is to oversee the implementation, assess the progress, facilitate as well as support the delivery and drive the progress of the Government Transformation Programme (GTP) and the Economic Transformation Programme (ETP).

RESOURCE PERSONS

L-R: CEO, RTC Advisory Services Limited, Opeyemi Agbaje; Group Executive Director, Rainoil, Godrey Ogbechie; First Vice President, Nigeria Gas Association (NGA), Audrey Joe-Ezigbo; and Managing Director, Falcon Corporation Limited, Prof Joseph Ezigbo, at the Double Impact platform in Lagos.... recently.

Rivers University Honours Alaere, Alaibe’s Wife Ernest Chinwo in Port Harcourt Nine years after her death, honour has come for Alaere, wife of prominent Bayelsa State politician, Chief Timi Alaibe, as the Faculty of Management Sciences of the Rivers State University, Port Harcourt will name the library in its brand new faculty complex after her today. “For her contributions to education through her Family Reorientation Education and Empowerment (FREE) Programme we name our faculty library after her,” Professor D.J. Hamilton, the Dean of the Faculty of Management Sciences of the Rivers State University, said in a statement, adding; “This Library will now be known as the Alaere Agustina Alaibe Library.” Alaere, a grassroots women mobiliser of note in Bayelsa State, was a

graduate of Banking and Finance from the faculty and was reputed for encouraging girl education as well as women empowerment in the state through her NonGovernment Organisation (NGO), FREE. The official unveiling of the library at the new faculty building, according to Dean’s statement holds today. The late Alaere who also obtained a Masters’ Degree from the faculty, said Hamilton, was considered for the honour because of the selfless efforts she deployed during her brief but eventful life on earth, to positively touch hundreds of lives in several rural and impoverished communities in the Niger Delta region of the country, through her pet project, FREE. According to him: “Under the able leadership of the late Mrs. Alaere Alaibe, Family Reorientation Education and Empowerment programme

became the most innovative intervention in adult literacy in the whole of the Niger Delta and perhaps Nigeria.” He said several years before the federal government conceived the presidential amnesty programme for former armed agitators in the region, Alaere was already crusading and fiercely advocating for the transmutation of armed militant agitation to “intellectual militancy” in the Niger Delta. “It was a mission she pursued with uncommon clarity and vigour throughout her brief but memorable years on earth,” Hamilton said. The university don said she became a onewoman-riot squad in her quest to change the sordid narrative in the Niger Delta using FREE as a veritable platform to reach out to thousands of women in poverty-ridden

communities, yearning for help in the Niger Delta. He said by 2007, the late activist had already established 33 adult education schools across the states in the Niger Delta, adding that earlier in 2006 FREE in collaboration with an international NGO built the Support for Africa Health Centre, a fully equipped and staffed hospital (now known as the Alaere Alaibe Hospital) Under the auspices of FREE, Hamilton said, Alaere frequently organized education and health seminars and a large number of activities, including free eye tests and the distribution of reading glasses to students, adding that elderly women with no education at all were a priority target group for FREE, whi c h a l s o a c c e p t e d single mothers and youths with missed opportunities.

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WEDNESDAYSPORTS CHAN 2018â&#x20AC;Ś

CHAN 2018â&#x20AC;Ś

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

CHAN 2018â&#x20AC;Ś

Yusuf Faces Selection Headaches as Eagles Battle Sudan for Final Ticket Duro Ikhazuagbe As Nigeriaâ&#x20AC;&#x2122;s Home-based Eagles get set to take on Sudan in one of the semi final games of the ongoing 2018 African Nations Championship (CHAN) in Marrakech, Morocco this evening, chief handler of the team, Salisu Yusuf, is faced with selection headaches. Camp sources confided in THISDAY from the north African country that with Sunday Faleye who dislocated his arm in the bruising battle with Angola in the quarter final clash in Tanger last Sunday ruled out of the game and Daniel Itodo another doubtful, Coach Yusuf is equally apprehensive of the trio of Ifeanyi Ifeanyi, Kalu Orji and Peter Eneji. Ifeanyi did not play in the game against Angola due to the groin injury he was nursing, Kalu has knee injury while Eneji too has another form of ailment that is giving the technical crew fears. â&#x20AC;&#x153;We are only hoping that by Wednesday morning when the medics take another look at these players there will be good news for us,â&#x20AC;? observed the top NFF official on telephone from Morocco last night. Sudanâ&#x20AC;&#x2122;s Falcons of Jediane caused something of an upset with a 1-0 win over Zambia in the quarter-finals of the 2018 CHAN at the weekend. Zambiaâ&#x20AC;&#x2122;s Chipolopolo with the best attractive football on parade at the tournament started the game in Marrakech promisingly with some early chances for Augustine Mulenga and Kondwani Mtonga, However, Sudan took the lead just after the half-hour mark as Maki Bakhit Saifeldin turned debutant John Mwengani to score the only goal of the game

and a ticket to the semis to face Nigeria. But Yusuf and his wards who endured 120 minutes of punishing football before over coming the challenge posed by the Angolans are not deluding themselves of a tea party this evening against the Sudanese. â&#x20AC;&#x153;Sudan is a very good team. We are expecting a tough game on Wednesday evening,â&#x20AC;? observed the former Ranch Bees player in his preview of the semi clash in Marrakesh.â&#x20AC;? He admitted that for the team to have only conceded just one goal and scored three goals speak volume of what to expect. The Sudanese have only conceded one and scored three goals so far in the tournament. The Home-based Eagles gaffer however remains very hopeful of progressing to the final to improve on Nigeriaâ&#x20AC;&#x2122;s best outing of a bronze in the competition. Yusuf insisted that if the game drags into shoot out, his wards are ready to surmount the hurdle and make Nigerians proud. â&#x20AC;&#x153;We are ready and prepared for a penalty shootout. We have not reached this stage by looking down on any team, and we will not start now. The Final of the African Nations Championship beckons and we will go out there with all that we have got,â&#x20AC;? he pledged. Yusuf and assistants Imama Amapakabo and Alloy Agu have toiled day and night to take Nigeria to only her second CHAN semi final in history. With both sides having previously met on 13 occasions, Eagles enjoy an advantage of seven wins, four draws and have only lost twice to the Falcons.

PY E O N G C H A N G 2 0 1 8

FG Appoints Elegbeleye Nigeriaâ&#x20AC;&#x2122;s Chef de Mission to Winter Games Olawale Ajimotokan in Abuja Former Director General of National Sports Commission (NSC), Hon. Gbenga Elegbeleye, has been named the Chef de Mission for the Nigerian delegation to the Winter Olympic Games in PyeongChang, South Korea. The Games are scheduled to hold between February 9 and  28. President of Nigeria Olympic Committee (NOC) Habu Gumel announced the appointment yesterday at the Cheering Event and Presentation of the Olympic Torch to the contingent by the Korean Cultural Centre in Abuja. The torch was presented to the Director of Elite Athletes Department of the Federal Ministry of Youth and Sports, Mrs Tayo Oreweme, by the Director of the Korean centre, Han Sungrae. Nigeria will be represented by four female athletes: Simidele

Adeagbo, Seun Adigun, Ngozi Onwueme and Akuoma Omeoga in Skeleton and Bobsleigh. According to Gumel, the athletes, all incidentally based in the USA, will arrive Nigeria today before heading to South Korea. Apart from Elegbeleye, Gumel said two coaches, the President of the Athletic Federation of Nigeria and officials of NOC will accompany the team to the Games. â&#x20AC;&#x153;This is a moment of joy for me because I recall I was envious seeing Ghanaian and Tunisian athletes make the maiden appearance for Africa in the 2010 Winter Olympic in Vancouver, Canada. â&#x20AC;&#x153;I want to assure Nigerians that this is the beginning as NOC will do everything humanly possible to encourage the athletes so that they can inspire a new generation of athletes to the next Winter Olympic Games,â&#x20AC;? Gumel said.

Injured Sunday Faleye (right) will be one of the Home-based Eagles to miss this eveningâ&#x20AC;&#x2122;s semi ďŹ nal clash Sudan at the ongoing 5th African Nations Championship in Morocco

Eunisell Hails Rivers Utdâ&#x20AC;&#x2122;s Duo Eunisell Group, the frontof-shirt sponsor of Nigeria Professional Football League side, Rivers United, has applauded the clubâ&#x20AC;&#x2122;s duo of Emeka Atuloma and Emeka Ogbugh, who are with the Home-based Eagles at the on-going African Nations Championship (CHAN) in

Morocco. Both players have played key roles as Eagles advanced into todayâ&#x20AC;&#x2122;s Semi-final against Sudan.  In a statement made available to the media, on Tuesday, Eunisell said: â&#x20AC;&#x153;We are proud of Atuloma and Ogbugh as they have displayed a high degree

of professionalism while representing Nigeria at the CHAN. â&#x20AC;&#x153;Both players are from Rivers United, a team that represents the excellent character of Eunisell. We are confident the duo will help Nigeria advance into the finals and also win the

Cup.â&#x20AC;? Eunisell, a leading global chemical and specialty fluid management company, supplying key products and solutions to a wide base of customers operating in Africa is in its third year as front-ofshirt sponsor of Rivers United.

T R A N S F E R D E A D L I N E DAY

Etebo Joins La Ligaâ&#x20AC;&#x2122;s Las Palmas on Loan Deal Duro Ikhazuagbe Contrary to speculations about the future of Super Eagles midfielder, Oghenekaro Etebo, THISDAY scooped yesterday that his Portuguese Primeira Liga club, Feirense, has released the Delta-born player on season long loan deal to Spanish La Liga strugglers Las Palmas. Etebo, 22, left Portugal yesterday afternoon for the Island based Las Palmas to bring some sort of relief to under-fire Las Manager Paco Jemez. Chairman of Feirense, Kunle Soname, confirmed the loan deal with Las Palmas to THISDAY yesterday at his Surulere office.

Soname who is also the financier of former Nigeria topflight club, Remo Stars FC of Sagamu, however admitted that Feirense agreed to the loan deal to help Eteboâ&#x20AC;&#x2122;s aspiration of making Super Eagles final 23-man squad to the World Cup in Russia later this year. â&#x20AC;&#x153;We have agreed a loan deal with Las Palmas. We want to help Karo (Etebo) achieve his ambition of making the Super Eagles team to the World Cup in Russia. We know he is going to be fired up when Las Palmas takes on top teams like Barcelona, Real Madrid and Atletico in the La Liga. We know his quality and

what he is capable of doing to showcase his talent,â&#x20AC;? observed the club proprietor who is also chairman of Bet9ja sports betting company. Before Eteboâ&#x20AC;&#x2122;s release on loan to struggling Las Palmas yesterday the local media here was awash with speculations of the former Warri Wolves star teaming up with Porto. But THISDAY learnt that the deal did not pull through because Porto did not meet up with the  â&#x201A;Ź10m release clause on the playerâ&#x20AC;&#x2122;s contract. Also, Etebo was linked with a move to Wilfred Ndidiâ&#x20AC;&#x2122;s former Belgian side Genk as well as Fenerbahce in Turkey and

English Premier League club, Leicester City. Etebo became hot cake after helping Nigeria win bronze at the Rio 2016 Olympic Games in Brazil. He however dropped in Eagles pecking order following the arrival of  Ndidi. Ndidiâ&#x20AC;&#x2122;s solid form for both Leicester and Nigeria ensured that Eagles coaches began to over look Etebo. This perhaps may have informed why he opted for the La Liga team against the advise of his agent who wanted the money Genk is willing to splash on him to move to the Jupiler league in Belgium.

Ahmed Musa Returns to CSKA Moscow on Loan Leicester striker Ahmed Musa is returning to former club CSKA Moscow on loan until the end of the season, the Russian side announced yesterday. â&#x20AC;&#x153;Welcome home, Ahmed!â&#x20AC;? CSKA said on their official website.

The speedy 25-year-old Nigeria international played for CSKA between 2012 and 2016 when he joined Leicester to bolster their squad for an ultimately failed defence of their fairy tale Premier League triumph.

Musa enjoyed a hugely profitable spell at CSKA, his 54 goals in 168 games helping the club win three league titles as well as a Russian Cup and two Russian Supercups. On the international stage Musa was part of the Nigeria

side that claimed the 2013 Africa Cup of Nations. Musa joins a team that are lying fifth in the table, 10 points behind leaders Lokomotiv Moscow ahead of the resumption of hostilities after the winter break on 2 March.

T H I S D AY ˾ WEDNESDAY, JANUARY 31, 2018

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WEDNESDAYSPORTS

NFF Unveils Dennerby as Super Falcons Coach The record-breaking feats of the Amaju Pinnick-led Nigeria Football Federation (NFF) continued in sleek fashion yesterday with the unveiling in Abuja of Mr. Thomas Dennerby, a former Coach of the Women’s National Team of Sweden, as Head Coach of the Super Falcons. Tuesday’s public presentation of the renowned tactician sits comfortably with the pledge by the Pinnick administration to put in place machinery for very robust and meaningful development of women football in Nigeria, and for the Falcons to challenge for laurels at global championships. Dennerby won 34 caps for Swedish junior teams between 1975 and 1981 and coached the Swedish Women’s Senior Team between 2005 and 2012, during which the team played at the 2008 and 2012 Olympics and the 2007 and 2011 FIFA World Cup finals, winning bronze at the latter tournament. More recently, he did scouting and analyses for the Swedish FA at the 2013 and 2017 European Championships, the 2016 Olympics and the 2015 FIFA Women’s World Cup in Canada. In announcing Dennerby’s appointment last week, NFF 2nd Vice President/Chairman of Strategy, Shehu Dikko, said: “The NFF decided to go for a coach of the calibre of Thomas Dennerby for three reasons: to sustain and enhance the Super Falcons’ dominance on the African scene; to take the Falcons and the other women teams to the next level of challenging for laurels at global competitions like the Olympics and the FIFA World Cup and; to generally

lay the foundation for the real development of women’s football in our country.” On Tuesday, at a ceremony inside the Conference Centre of the National Stadium Complex, Abuja, the NFF confirmed that Dennerby’s contract wll last till after the 2020 Olympics in the initial, with the right for automatic renewal subject to meeting of performance milestones. Before then, the Swede will have the opportunity to prove himself at the 2018 and 2020 Women Africa Cup of Nations competitions, the 2019 FIFA Women’s World Cup finals and the Women’s Football Tournament of the Tokyo Olympics. “We believe we have the right man to take the Super Falcons and women’s football in Nigeria to the next level. Undoubtedly, we have been doing very well on the African continent, with eight titles out of 10 AFCON competitions so far. However, we went all out for a man of Dennerby’s pedigree and capacity because we want the Falcons and the other teams to win laurels at global championships. “As a Federation, we will give Mr. Dennerby and his assistant Petersson, as well as his Nigerian assistants all they require to succeed,” Dikko said at the unveiling. Dennerby said: “I am ready for the opportunity and the challenge of working with an amazing team like the Super Falcons. I believe we can all work together to close the gap between them and the big women football –playing nations of the world.”

Sports Community Gives Deji Tinubu Befitting Farewell Femi Solaja It was a special gathering of who-is-who in the sporting fraternity yesterday as former Special Adviser on Sports to Lagos State Governor, Late Ayodeji Tinubu, was laid to rest. Although the atmosphere was solemn, tributes and eulogies from eminent personalities led by Governor Akinwunmi Ambode and his counterpart from Ogun State, Senator Ibikunle Amosun and wife of Nigeria’s Vice President, Mrs Dolapo Osinbajo at the event was assurance that the departed sports commentator, will find peaceful rest in the Lord. Before the burial, a Funeral Service held at the Redeemed Christian Church of God, ‘City of David’, Victoria Island, Lagos. The Lagos State Sports Commission led by its Chairman, Dr Kwesu Tandoh and staff of the commission came in full force to honour their immediate past chairman who slumped and died while playing a novelty five-aside football match with some members of the state executive council at the Jubilee Chalets in Epe last week Thursday. African Footballer of the Year recipient, Victor Nosa Ikpeba, former Super Eagles goalkeepers Peter Rufai and Ike Shorunmu, former Captain of D’Tigers, Ayodeji Olumide and Nigeria’s first Sports Radio FM owner, Dr.

Larry Izamoje and foremost football historisn, Kunle Solaja were amongst the heavyweight of the sports industry in the country who were physically present at the burial. Members of the Nigerian Football Supporters Club among others were also on hand to give the departed football analyst a rousing farewell. In his tribute, Ogun State Governor, Amosun recalled the passion the deceased had for football and sports in general. “The last time I saw Deji was when he came for Segun Odegbami’s 10th anniversary of his sports academy at Wasimi Orile via Abeokuta late last year. “He was happy that with the support that I have given to the legend in his pet project. I assured him that when next he visits, the school would have been transformed from what he has saw. Little did I know that Deji will answer the final call on January 25 which happen to be my birthday. Deji was full of life and had a deep passion for football,” Amosun recalled. In his sermon, Pastor in Charge of RCCG, City of David, Idowu Iluyomade, said Deji was a perfect gentleman and a pillar, who contributed in no small way in building the house of God and urged the congregation to emulate his virtue.

Dennerby flanked by Super Falcons’ Asisat Oshoala (left) and Onome Ebi at his unveiling in Abuja… yesterday

NPFL: Akwa Utd to Seal Dana Air Deal as Seven Match-day 6 Games Hold Today Plans have been concluded to seal deal with Dana Airlines to become official Airline of Nigeria Professional Football League (NPFL) club, Akwa United FC. A statement by Mfon Patrick, the media officer of the Aiteo Cup champions yesterday confirmed that the deal will be formalised on Friday, February 2 in the Conference Hall of the Godswill Akpabio International Stadium in Uyo. Though the details of the partnership were not revealed, Patrick quoted Club Chairman, Elder Paul Bassey, as saying it was a worthwhile venture that will be beneficial to both parties. “In choosing to partner Akwa United FC, Dana has not only shown respect to an operation base (Uyo) that has been very rewarding business wise, but it has also identified a club that is most likely to better propagate its services,” concludes the statement. Meanwhile, Akwa United will continue to push for how to hang on to the top of the NPFL standing with a Match-day 6 away trip to FC IfeanyiUbah in Nnewi this evening. With four wins out of five to stay on same 12 points as champions Plateau United, the Promise Keepers will be aiming to consolidate or at worse get a valuable point from the road trip to Nnewi. However, it promises to be

STA N D I N G S Team P Akwa Utd 5 Plateau Utd 5 Lobi Stars 5 Wikki 5 Kano Pillars 5 Sunshine 5 Katsina Utd 5 Abia Warriors 5 Yobe Stars 5 El-Kanemi 5 Rivers Utd 5 IfeanyiUbah 5 Tornadoes 5 Nasarawa 5 Enyimba 5 Rangers 5 MFM FC 5 Heartland 5 Go Round FC 5 Kwara Utd 5

W 4 4 3 3 2 2 2 2 2 2 2 2 2 2 1 2 2 0 1 1

D 0 0 1 0 2 2 1 1 1 1 1 0 0 0 3 0 0 4 1 0

a tough one given the fact that IfeanyiUbah have just two wins so far and are sitting at the 12th spot on the log. They have lost their last three games and will want to use this home advantage to bounce back. Elsewhere, Sunshine Stars will be looking for their third consecutive home win of the 2017/18 NPFL campaign when they host El Kanemi Warriors at the Akure Township Stadium this afternoon. The Owena Waves come into the game off the back of a creditable goalless draw at Abia Warriors on Match-day 5- with goalkeeper Moses Ocheje producing a breathtaking performance to deny the hosts after getting the nod ahead of

L 1 1 1 2 1 1 2 2 2 2 2 3 3 3 1 3 3 1 3 4

GF 9 7 7 3 7 4 8 4 5 4 4 6 6 4 3 4 4 2 2 1

GA 2 1 4 3 5 3 5 3 5 5 6 6 7 5 4 6 7 3 6 8

GD 7 6 3 0 2 1 3 1 0 -1 -2 0 -1 -1 -1 -2 -3 -1 -4 -7

Pts 12 12 10 9 8 8 7 7 7 7 7 6 6 6 6 6 6 4 4 3

first-choice Henry Ayodele. The result kept Sunshine Stars in the top six, one point above 10th-placed ElKanemi, who failed to score in a home game at the Maiduguri Township Stadium for the first time since March 2013 in their tie against Kano Pillars on Sunday. For Imama Amapakabo’s boys, they were brought back to earth on Sunday as Kano Pillars ended their perfect home start to the campaign and they are billed to face a test of nerves and character as they look for their first away point of the season in Akure. The Borno Warriors have lost and failed to score in their first two away games of the season against Rivers United

and defending champions Plateau United. At the Nnamdi Azikiwe Stadium in Enugu, one of the biggest fixtures of Match-day 6 will be decided in Enugu on Thursday when Enugu Rangers and Rivers United go toe to toe. Rangers go into Thursday’s game on the back of a 1-2 defeat to Nasarawa United in Lafia on Monday and will be looking to bounce back by amassing maximum points at the expense of the Port Harcourt club. The ‘Flying Antelopes’ have won once and also lost once at home this term but they will fancy their chances against a Rivers United side that have yet to register neither points nor goals on the board, on the road this term. Team Manager of Rangers, Amobi Ezeaku is however full of respect for United and is adamant that the hosts will be taking nothing for granted at the ‘Cathedral’ tomorrow.

MATCH DAY 6 FIXTURES MFM FC Vs Wikki Enyimba Vs Abia Warriors Go Round FC Vs Nasarawa Pillars Vs Plateau Utd Sunshine Vs Elkanemi Yobe Vs Katsina Utd IfeanyiUbah Vs Akwa Utd THURSDAY Kwara Utd Vs Lobi Rangers Vs Rivers Utd Tornadoes Vs Heartland

DOAMF Charity Golf Tournament Tees-off Weekend The Final of the 2018 Daniel Ogechi Akujobi Memorial (DOAM) Foundation Golf Tournament is to tee off this Saturday, February 3, 2018 at the Golf Section of Ikoyi Club 1938 in Lagos. As is now the tradition with this event, it enjoys tremendous patronage of golfers and corporate organisations, including

PricewaterhouseCoopers, Diamond Bank Plc, ARM Pension Managers, Radial Circle Group, Zenith Bank Plc, SEPLAT Petroleum, Channels Television, Silverbird Television, Grand OAK, Cappa & D’Alberto, SPAR (Park N’ Shop), Fidelity Bank Plc, Victoria Crown Plaza, Ikoyi Club 1938, Protea Hotel, Wheatbaker Hotel, Four Points

by Sheraton and many more. Over 180 players, made up of those that made the cut at the January 6, 2018 sualifier and invited guests are expected to compete for top prizes and to emerge the 2018 Champion of the DOAM Foundation Charity Golf Tournament. The Coordinator of the event, Mr. Pat Bassey, stated that “the golf course will

be especially challenging this time around given the ongoing reconstruction work on two of the holes but, we have worked with the golf course management to ensure players have an enjoyable golfing experience”. He also assured golfers of a tournament day experience which has become one of the hallmarks of this foundation.

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Wednesday January 31, 2018

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Price: N250

MISSILE Ogun APC Chieftain to Third Force

â&#x20AC;&#x153;Many of them are merely popular on the pages of newspapers and lack real electoral value to defeat an incumbent president.â&#x20AC;? â&#x20AC;&#x201C; Ogun State All Progressives Congress Chieftain dismissing the likely threat the Third Force could pose to the president Muhammadu Buhariâ&#x20AC;&#x2122;s re-election in 2019

CHIDIAMUTA GUEST COLUMNIST

Colonies Within a Nation

I

n response to a problem of modernization, the Buhari administration has advanced and is deploying a medieval solution. Nigeriaâ&#x20AC;&#x2122;s cattle meat industry is mired in an ancient tradition, requiring an aggressive and fierce leapfrog to a modern competitive proposition. Instead, the current federal government is intent on pushing the industry and those Nigerians who depend on it for livelihood deeper into antiquity. The plan, which is being hurriedly implemented in some states, consists of isolating herdsmen and their flock in medieval manorial â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; and reserves literally fenced off from the march of modernity. This decadent policy is being marketed to a skeptical nation as a solution to the carnage that herdsmen have recently unleashed on the nation. For the avoidance of doubt, what we have on our hands is a looming national security nightmare occasioned by an inexplicable reluctance to modernize a sector of our agriculture. Underneath this is a lingering failure of national integration since the end of the civil war, which has now exposed the scandalous failure of our chaotic national security apparatus. Welcome to the dark ages of cattle farming. Angry and hungry herdsmen on foot traversing hundreds of kilometers of territory in search of grazing grounds for a few emaciated and disease -ridden cows. In this process, cattle invade farmlands, school play- grounds, highways, public parks and private gardens. This practice neither aids cattle meat production nor communal harmony. It instead threatens settled peasant and big time farmers, annoys decency and takes us back to the age when humanity hunted and foraged far afield for basic livelihood. Above all, it dehumanizes the herdsmen and converts them, at their worst, into a roving killer army without command or control. To end this affront on decency and upsetting of national security, this government, characteristically simplistic, is intent on establishing cattle â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; all over the country! Under this programme, enclaves and reserves are to be demarcated in all states and protected by federal fiat as grazing and residential lands for migrant herdsmen maybe in perpetuity. While the precise status and size of these â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; is still hazy or shrouded in the usual â&#x20AC;&#x2DC;official secretâ&#x20AC;&#x2122;, I fear that a sheer failure of language may have deepened the conceptual and strategic fogginess in the design of this backward policy. To insist on creating â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; for whatever purpose within a sovereign nation is perhaps one of the most curious experiments in recent political theory. Colonies by their nature would usually be established by a sovereign state in a territory external to itself with its political control and authority. They embody a measure of conferred sovereignty designed to protect the rights and privileges of the inhabitants of these enclaves. A colony can also be established for a group of persons- usually an ethnic nationality- living in a foreign place for their protection from hostile overlords. In both senses, everything about the proposed cattle colonies is in conflict with Nigeriaâ&#x20AC;&#x2122;s

President Muhammadu Buhari

sovereignty, the rights of its citizens and the constitution that makes it a nation state, not to talk of a democratic republic of free persons, theoretically at least. As full Nigerian citizens, the herdsmen the government is seeking to specially protect in these cattle colonies are already entitled to all the rights and privileges of citizenship. They are in addition indigenes of specific identifiable states where they are entitled to additional rights and privileges. Their cries of marginalization and neglect do not differ from those of nearly every other Nigerian group. It has nothing to do with their trade or the sins of the communities and individuals they are targeting. There is more worry about the legal and constitutional status of the proposed colonies. How would these colonies relate to state and local governments in which they are located? Is the Buhari government trying to create a fourth tier of government in Nigeria? As â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; by federal fiat, they would be imbued with the authority, conferred legitimacy and imparted sovereignty of the federal government, which is the ultimate guarantor of our prevailing national order? Those with a mathematical sense of our politics are likely to calculate the total area of all the proposed colonies in the states and compare the total area with the land area of an average state. They would then argue that it would amount to creating an additional state for the herdsmen, (who are predominantly Fulani) for no other reason than that they are herdsmen! Will there then be a justification for denying practitioners of other trades similar territorial concessions? There is even greater security confusion ahead in the event that this â&#x20AC;&#x2DC;colonialâ&#x20AC;&#x2122; construct is rammed down our throats. As itinerant herdsmen, the cattle herders have of recent assumed a very militant posture, armed with all manner of weapons of war. Emboldened by federal might and the authority of the new colonies, they are likely to amass more fearsome arsenal to expand their colonies ostensibly for greater grazing grounds. Since the boundaries of the so-called â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; are not likely to be physically delineated, the â&#x20AC;&#x2DC;cattle colonistsâ&#x20AC;&#x2122; are likely to live in perpetual conflictual relationship with their host communities. Fast forward to15-20 years from

now and project on the plight of these â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122;! The long term sociological and security consequences are more dire and frightening. They will quickly degenerate into reserves of squalor, violent crime, poverty, fundamentalist rascality and even armed insurgency. With our eyes wide open, we would have created in the rural areas of consenting states islands of licensed poverty and legalized banditry. Anyone who is familiar with what has become of the Indian Reserves in the United States where the government locked away the Red Indians and forgot them would be frightened at the prospect of these cattle colonies. There is above all a travesty of all known norms of democratic co-existence at stake. To consciously pursue a policy that confers rights and privileges to some members of a society or practitioners of a given trade or occupation which are not available to other citizens or practitioners of other occupations or trades is ab initio discriminatory, divisive and fundamentally unconstitutional. Inherent in the cattle â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; proposal therefore is an insidious violation of the rights of innocent Nigerians both migratory and settled alike. The right of the herdsmen to enjoy the benefits of a settled existence and demand the fruits of modern agricultural finance and scientific developments to advance their trade is being violated by this gambit. Most importantly, the settled farming communities that have borne the brunt of the herdsmenâ&#x20AC;&#x2122;s bloody raids have their rights to life, property and freedom to pursue their livelihood abridged by these herdsmenâ&#x20AC;&#x2122;s raids. I have a right to insist on a decent garden and unsoiled surroundings and argue that these rights are superior to the animal rights of the herds that periodically invade my neighbourhood. If I am driving on a federal highway and a herd of cattle compete for right of way and damage my car, I should press charges and insist on compensation for damages! Perhaps the promotion of this ancient nomadism by certain politicians hides other nefarious intentions. It is inconceivable that a government that insists on pursuing development and modernization should in the same breadth be promoting a descent into medievalism. These politicians are ardent worshippers of modernity in terms of their consumption patterns. Those who are pushing the cattle colonies policy are in Abuja and the state capitals clutching sophisticated smart phones, driving state of the art cars and living in Hollywood type homes with touch screen TVs and unimaginable creature gadgetry. But they conveniently want to consign millions of Fulani herdsmen and their families into a pre-Medieval mode of agricultural production that imprisons them in congenital poverty. For the avoidance of doubt, nomadism and the violence it is breeding in Nigeria have nothing to do with cattle farming. Otherwise the nations with the largest cattle inventory and which produce most of the worldâ&#x20AC;&#x2122;s meat stock would have the most violent nomads. According to FAO figures of world cattle inventory, the top six countries are Brazil (212 million), India (190 million), China (114 million), United States (90 million), Ethiopia (54 million)

and Argentina (51 million). Nigeria has only 20 million heads of mostly disease riddled, emaciated cattle and ranks 14th in the global inventory, accounting for a miserable 1.36% of the global number. Has anyone heard of Indian, Chinese or American nomads killing people and burning their houses? None of these net cattle producer countries has even a single nomad! On the aspect of national security, there are more questions than the answers we are getting. On the face of it, there is criminality, which needs to be apprehended and severely punished through the appropriate machineries of law enforcement and the judicial process. There is above all our national security, which requires that we apply greater analytical intelligence to understand the changed nature of the behavior of the herdsmen. We need to trace the source of their arms, their contacts, sponsors, their money trail and unlock their cell phones to decipher who they call, who they email etc. This dimension is made imperative by our experience with Boko Haram. Under the nose of our security establishment, a vicious army of terrorists was raised and we are still not out of the clutches of a vicious terrorism. There is even more urgent and serious elementary work. Let us start by registering all herdsmen biometrically to determine their precise nationality and their actual population. To locate them in real time, let all registered herdsmen wear electronic tags so that the police and other security agencies can easily know their location in relation to trouble spots. Next, let us disarm all herdsmen by getting them to surrender dangerous weapons that have nothing to do with the protection of their flock from rustlers and wild animals. Before herdsmen acquired weapons of war, they were never associated with mass murder, kidnapping and armed robbery as we are now seeing. Nigeria is not alone in being challenged to integrate an ancient culture into a modern society. Israel dealt with the problem of migrant Bedouin livestock farmers as a challenge of modernization of agricultural production and the spread of the benefits of citizenship to all irrespective of preexisting ethnic or cultural peculiarities. The government applied a combination of settlement modernization and integration, affirmative action in education, agricultural credit and modernization of animal farming techniques. There were programmes of deliberate empowerment of the Bedouin communities to a point where they have become hardly distinguishable in terms of standards of life and enlightenment from the rest of Israeli society. They still have their cultural identity but as full Israeli citizens. The rest is history. This cattle â&#x20AC;&#x2DC;coloniesâ&#x20AC;&#x2122; policy falls in line with Nigeriaâ&#x20AC;&#x2122;s growing tradition of lazy governance. It seeks to relieve the federal and relevant state governments of the responsibility to extend to the migrant herdsmen the full benefits of their citizenship. What is so difficult about setting an urgent deadline for the establishment of state owned and private ranches all over the relevant states of the federation to end this dangerous embrassment? r %S $IJEJ "NVUB JT $IBJSNBO PG 8JMTPO 8FJ[NBOO "TTPDJBUFT -UE -BHPT

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