NEITI: NNPC Yet to Explain Missing Billions Chineme Okafor with agency report The Nigeria Extractive Industries Transparency Initiative (NEITI), the agency tasked with cleaning up Nigeria’s murky oil industry,
has said even though financial accountability has improved, the Nigerian National Petroleum Corporation (NNPC) still has not explained billions of dollars of missing revenue. While energy producers
have cooperated and complied with requirements to publish payments, NEITI has struggled with the state-owned oil firm, Waziri Adio, executive secretary of the agency, said in a recent interview with Bloomberg.
The state oil company hasn’t explained what it did with at least $22.7 billion earned from the sale of oil licences and in dividends from its stake in the Nigeria Liquefied Natural Gas (NLNG) Company over a 15-year period, he said.
“The sector is no longer the black hole that it once was, but we could still use more transparency,� Adio said. “Things are opening up. There could be more in the area of contracts, ownership and expenditure transparency,
but definitely there is some progress.� Ndu Ughamadu, NNPC spokesman, didn’t answer three calls on his mobile phone and two text messages Continued on page 6
Senate Cautions INEC on Misguided Pronouncements on Electoral Act Amendment‌ Page 34 Tuesday 13 March, 2018 Vol 23. No 8363. Price: N250
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Tillerson Pledges US Support for Quick Release of Dapchi, Chibok Girls Clarifies comment on Chinese loans President: FG negotiating release of students Borno closes boarding schools in 25 LGAs Omololu Ogunmade inAbujaand Michael Olugbode in Maiduguri The United States Secretary
of State, Rex Tillerson, arrived Abuja, Nigeria’s capital yesterday, where he pledged the support of the U.S. in
securing the quick release of the Dapchi and remaining Chibok schoolgirls abducted by Boko Haram terrorists and
expressed hope that a deal for their release would be struck soon. Tillerson, who made the
pledge while responding to questions from journalists at the State House, Abuja, after holding a closed-door meeting
with President Muhammadu Buhari, said the U.S. would Continued on page 6
Buhari in Benue, Asks Nigerians to Stop Escalating Herdsmen-Farmers’ Clashes Again, hints at presidential run, says he may return to campaign in state Expresses ignorance over IG’s disobedience of his relocation directive Two policemen killed ahead of president’s visit Iyobosa Uwugiaren in Abuja and George Okoh in Makurdi In his first visit to Benue State since he assumed office almost three years ago, President Muhammadu Buhari yesterday called on Nigerians to refrain from escalating the deadly clashes between farmers and herdsmen in Benue and other states in the country, even as he appealed to Nigerians to continue to be accommodative
and live together in peace. The president also said that he was unaware that the Inspector General of Police, Mr. Ibrahim Idris, whom he mandated to relocate to Benue after the new year day killings of 73 people in Guma and Logo Local Government Areas of the state by suspected herdsmen, had only spent one day in Makurdi, the state capital. Continued on page 6
Land Use Charge: Lagos to Address Concerns of ResidentsThisWeek‌ Page 10
U.S. Secretary of State, Rex Tillerson, when he met with President Muhammadu Buhari at the State House, Abuja‌ yesterday
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PAGE SIX N E I T I : N N P C Y E T TO E X P L A I N M I S S I N G B I L L I O N S seeking comment. The company has said in the past it has the authority of the government in its actions. Royal Dutch Shell, ExxonMobil Corporation, Chevron Corporation, Total and Eni operate joint ventures with the state oil company that account for about 90 per cent of the output of Nigeria,
Africa’s top producer. NEITI was set up in 2004 after Nigeria acceded to the Extractive Industries Transparency Initiative, which requires international energy companies and governments involved in mining to publish all their payments. Nigeria LNG is owned 49 per cent by NNPC, 25.6 per
cent by Shell, 15% per cent by Total and 10.4 per cent by Eni. President Muhammadu Buhari, who pledged during his 2015 election campaign to fight widespread graft in the oil and gas industry, appointed Adio in February 2016 to head NEITI. For all its work in auditing
oil industry payments, critics have said the agency remains toothless, lacking the power to compel companies to disclose payments or penalise erring producers. In its defence, Adio said NEITI’s annual audits have helped the government recover billions of dollars that would have been lost.
“The NEITI law does not give us the power to compel compliance or to enforce our recommendations,� he said. “But we have done our reports, with findings and recommendations, and we have shared them with government.� So far, the agency has produced reports covering the
years from 1999 to 2015 and is working on those for 2016 and 2017, which are scheduled for public presentation in July and November. Before the end of this year, NEITI plans “to automate our data collection process and be able to provide real-time data and real-time analysis,� Adio said.
provision of equipment and training of its personnel for special operations. In reference to other security threats plaguing Nigeria, especially the violence being perpetrated by suspected herders of cattle,
Tillerson added that beyond the menace of Boko Haram terrorism, the leadership of Nigeria has other security threats to deal with, pledging that the U.S. would assist in
T I L L E R S O N P L E D G E S U S S U P P O RT F O R Q U I C K R E L E AS E O F DA P C H I , C H I B O K G I R L S be involved in efforts for the release of the Dapchi girls the same way it had been part of the negotiations for the release of some of the Chibok girls. The U.S. Secretary of State had arrived the Nigerian
capital yesterday on the final leg of his tour of select African countries. He was initially slated to spend the night in the Nigerian capital but his visit was cut short, owing to what his spokesman said
were pressing engagements in Washington D.C. Tillerson, however, expressed concern that the threat posed by Boko Haram terrorists had gone beyond the shores of Nigeria and West Africa, saying the terrorists
now constitute a threat to other regions. According to him, while the U.S. acknowledges Nigeria as a country with its own territorial integrity, it has continued to support the West African country in the
Continued on page 10
B U H A R I I N B E N U E , AS KS N I G E R I A N S TO STO P E S C A L AT I N G H E R D S M E N - FA R M E R S ’ C L AS H E S The president also hinted at a presidential run in 2019, saying he might return to Benue to campaign ahead on the elections next year. Buhari was on the third leg of his visit to condole with residents in states worst hit by the incessant clashes between farmers and herders of cattle. He had earlier visited Taraba and Plateau States and is slated to visit Rivers and Zamfara States next, both of which recorded high casualties when criminals struck in them recently. The president, who spent two hours in the state before flying back to Abuja to receive the U.S. Secretary of State, Rex Tillerson, made the call when he met with stakeholders in Makurdi. The stakeholders, who were led by Governor Samuel Ortom, comprised lawmakers and politicians, farmers and herdsmen, the clergy, academia, traditional rulers, and civil society organisations. The president’s scheduled visit, notwithstanding, the killings continued unabated in Benue, as two policemen were reportedly killed in Tse-Oragbo, Nyiev Council of Guma Local Government Area of the state by suspected herdsmen in the early hours of yesterday. Buhari, during his meeting with stakeholders in Benue, informed his audience that the relationship between farmers and herders of cattle will continue, adding that it behoves on all to keep encouraging all parties to continue to live together peacefully. He said God had put farmers, herdsmen and Nigerians together, saying collectively, all sides could leave peacefully by accommodating one another. “Governor Ortom has succeeded in passing the buck to me and I have heard all he has to say. I have made notes. But loyalty is a two-way traffic. “I was also visited by two senators and people from the state and I have come to visit the people. As leaders, we have to be loyal to people below you. What I did when I heard of the killings, I called the IG and gave him a directive to come to Benue. I did not know that he did not stay here for more than 24 hours. “I am however appealing to all to show more restraint. The relationship between farmers and herders will continue. It behoves on us to keep encouraging ourselves to continue to live
together peacefully,� he said. He said he has friends from Benue State and there was no way he will deliberately overlook what was happening in the state and other parts of the country. The president pledged that the federal government would continue to address the issue of rural development and make sure that farmers are empowered. He also said the meeting was not the best place to expose the inefficiency of his appointees and appealed to the Benue people to exercise restraint and live in peace with their neighbours. Buhari told the stakeholders that he was doing his best to tackle insecurity in the land. He denied insinuations that he had overlooked the killings in Benue, saying that he was genuinely worried about them. In his remarks, the state governor, while welcoming Buhari to the state, said Benue people were happy about the meeting and appealed to the president to upgrade the ongoing military exercise in the state tagged “Ayem A Kpatema� to a full operation in order to effectively curb the attacks by herdsmen. “If the exercise is upgraded to an operation, it will assist greatly in ending the incessant attacks and senseless killings by herdsmen,� he said. He observed that people had always believed in the president, which is why they voted for him in 2015. He recalled that on January 11, the state buried 73 people who were killed by suspected herdsmen, and since then 65 more people had been killed in Guma and Logo, and another 26 killed in Okpokwu, with over 5,000 displaced in the Mbatoho community. Ortom also called on the federal government to compensate the thousands of people who had been displaced by the clashes between farmers and herders in the state. According to him, “One hundred and seventy persons now live in internally displaced camps (IDPs) across the state. Sixty per cent of the IDPs are school children who should be in school and only today, two police officers were killed in Guma, so the federal government should compensate the people who have been displaced.� Ortom, however, said no one was holding the president responsible for the killings, but stressed that those who
had threatened to oppose the Open Grazing Law and were killing people in the state were going scot free. Accordingly, he reiterated his call for the arrest of the leadership of Miyetti Allah Kautal Hore, maintaining that it was responsible for the killings. Ortom also insisted that ranching was the best option for cattle breeding in the country and called on the federal government to take over the management of the Benue University Teaching Hospital, College of Education, KatsinaAla and Benue Polytechnic, Ugbokolo. Like his principal, the state’s deputy governor, Benson Abouno welcomed Buhari to the State, saying that its people were happy that he came to visit. “We believe you are here because you have heard our cries. Your children have been in pain and today as a worthy father, you have heard our cries. “We know your coming will not only grease but soothe the pains of the grieving Benue people. They know today that the chief sheriff of Nigeria is in town and this will send a very strong signal to the perpetrators of the killings. We know you are on the path to resolving the crisis once and for all,� he said. However, the chairman of the Benue chapter of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Ubbi Haruna, said his group was not responsible for the Benue killings, adding that the association was peace loving and the exact opposite of its public perception. “The allegations are misleading. The association has always appreciated the peaceful and harmonious coexistence between farmers and herdsmen. “Going forward, there will be peace in the state. Let bygones be bygones to allow peace and security to prevail,� he said. Haruna also called on all stakeholders to support the government to achieve peace. Also speaking, elder statesman and a former minister in the Second Republic, Chief Paul Unongo, told the president that the Benue people were deeply hurt and bewildered over the killings of unarmed villagers. He said Benue did not have a monopoly on the crisis, as states like Zamfara, Kaduna, Plateau and other parts of the North which voted massively for the president, had the same
problem. He asked the president to degrade the herdsmen phenomenon, adding: “The landmass of your country is not increasing, the population is. So, if you don’t do something now, you will discover that you will end up having a country ridden by terrorism far beyond your dreams. “Your governor is not your enemy but he is under threat. He is very competent and loyal to you. The Open Grazing Law was not made to antagonise you,� he said. Unongo, however, cautioned that Tiv people should not be made to give up their farmlands for herders of cattle, saying they are entitled to their livelihoods and peaceful existence as farmers. He also informed Buhari that the state governor had been misunderstood by the president’s security chiefs and was under threat due to his stance on the Benue killings. “How can somebody with Fulani blood be the leader of the Tiv people. Your son, Ortom, is misunderstood by some of your security aides, especially the Police IG. He is under threat,� he said. The president’s visit was lowkey and was largely ignored by residents of the state who went about their normal businesses, amidst very tight security. A statement later yesterday by the president’s media aide, Femi Adesina, said when Buhari responded to the “shopping list� of the stakeholders, he informed them that he would not make any promises during his visit yesterday and asked them to pray that the economy improves, but said that he may do so if and when he returns to the states for the 2019 election campaigns. “When coming back on campaign, if coming back on campaign, I may promise,� his spokesman quoted him as saying. Adesina said he commended the efforts of the Minister of Agriculture and Rural Development, Audu Ogbeh, an indigene of Benue, saying: “He is a great asset in my government.� Buhari was quoted as adding that his administration would continue to empower farmers with loans by the CBN, noting that the agricultural policy of his administration had led to a 90 per cent reduction in rice importation.
However, just before Buhari arrived the state, two police officers were reported killed in Tse-Oragbo, Nyiev Council of Guma LGA. An eyewitness in the area, who spoke with reporters in Makurdi, said that suspected herdsmen carried out the senseless attack a few minutes before Buhari arrived the state. All attempts by THISDAY to confirm the story proved abortive, as calls to the police authorities did not go through.
PDP Mocks Buhari Meanwhile, the Peoples Democratic Party (PDP) yesterday, in reaction to the president’s visit to Benue months after the massacre of several residents, described the visit as an afterthought, saying it was needless and only served as a large billboard of his administration’s gross insensitivity to the plight of Nigerians. The party also said its mega rally, which was held in Dutse, the Jigawa State capital, on Monday, had opened a new vista for the party as the “true hope� for Nigerians. Stating that Buhari’s visits to the troubled states, particularly Benue, was evidently orchestrated for political reasons, the PDP, in a statement by its National Publicity Secretary, Kola Ologbondiyan, said it was appalling and highly disheartening that the president only visited his distressed citizens after the widespread outcry over his aloofness. “What is the purpose of a condolence visit when it does not come from the heart, but was orchestrated to deceive and beguile the people ahead of the 2019 general election? “Indeed, we agree no less with Nigerians that this cosmetic and politically motivated visit is nothing but a direct mockery of the dead and a heavy slap on the faces of the bereaved. “This is the same president, who in the wake of the massacre, summoned the leaders and the bereaved to Abuja, rather than complying with the age-long tradition of Africans by immediately visiting the bereaved,� the PDP said. The major opposition party added that months after the tears of the affected people had dried and they were painfully gathering their broken pieces, Buhari was now trying to use them for political posturing by
staging a “cosmetic condolence visit� just to score political points. The party said it was more disheartening that after the public criticism that trailed the “president’s glaring aloofness and failure to visit the direct victims during his whistle stops in Taraba and Plateau States, his handlers have now arranged a put-on visit to some internally displaced persons’ camps in Benue, which is nothing but a posturing stunt to further deceive the people�. The president, however, cancelled his visit to the IDP camps and to the military commanders in Benue. “If the Buhari-led administration is genuinely concerned about the well-being of the people of Benue and other troubled states, what decisive step has been taken to apprehend those behind the carnage and bring them to book? “What steps have been taken to ensure adequate protection for the people and to end the daily bloodletting in the land? “Instead the government has been engaged in making reproachful comments and dishing out false information to the people,� the party added. The PDP charged the presidency to end the unnecessary roadshows and take decisive steps to ensure the security of the people, saying those organising the roadshows must understand that Nigerians can no longer be deceived by the cosmetic and pretentious posturing from the “grossly insensitive and incompetent� administration, which has brought them so much pain.
TOP GAINERS NGN NGN UNIC 0.02 0.23 MULTIVERSE 0.02 0.28 CONSHALLMARK 0.03 0.42 0.37 ROYALEXCHANGE 0.02 LEARNAFRICA 0.05 1.09 TOP LOSERS NGN NGN REGALLIANCE 0.02 0.35 DIAMONDBANK 0.11 2.15 UNIPRESS 0.11 2.19 UBA 0.60 12.30 UNITYBANK 0.08 1.64 HPE Nestle Nig Plc â‚Ś 1,380 Volume: 831.388 million shares Value: N 10.568 billion Deals: 5,651 As at 12/3/18 See details on Page 31
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Land Use Charge: Lagos to Address Concerns of Residents This Week Assures them of positive outcome Gboyega Akinsanmi Amid the sustained public objection to the enforcement of the recently enacted Land Use Charge (LUC) Law, the Lagos State Government yesterday said that it would ameliorate the concerns of stakeholders in the state, mainly business executives and captains of industries, this week. Since the state government started issuing new LUC notices to residents in Lagos, there has been a massive outcry over the astronomical increment in the charge, especially among residents in highbrow areas of the state who are the worst hit. The state government defended the new charge, saying it needed to raise its internally generated revenue (IGR) to close the infrastructure gap in Lagos, noting that it would require at least $50 billion in the next five years for this purpose, with the exclusion of the education,
health and housing sectors. It also embarked on an enlightenment campaign last week on how properties are assessed and the rates applied to the market value of properties after a general relief of 40 per cent of the value has been deducted. The Executive Chairman of the Lagos Inland Revenue Service (LIRS), Mr. Ayo Subair, in an interview with THISDAY last week, also advised residents who had established that they had been wrongly assessed to appeal the charge at the Lagos State Ministry of Finance. Speaking on the issue yesterday during a session with journalists at the State House, Alausa, the state governor, Mr. Akinwunmi Ambode, said that as a responsive government, he would respond to the yearnings of residents in the state. Ambode said the state government has been consulting
with people and explaining the reason for the new law since last week, noting that the government was open to dialogue on the issue. “I am ready to respond to the demands of concerned stakeholders. At the end of this week, I think we should be able to come up with something positive that will ameliorate the issues raised by concerned stakeholders,� he added. Ambode said the state government “will take decisions for the development of the state. What this government is interested in, is to create a framework that would serve as permanent prosperity for Lagos�. He said the state government had dialogued with different stakeholders in the last fortnight, promising that he would obviously respond to the yearnings of the residents. He acknowledged that the state has over 300 tax items. “Of these tax items, we only
reviewed the land use charge upwards. The development was targeted at fast-tracking development and protecting the future of the state. “We are a very responsive government. We are very sensitive because, at the end of the day, governance is about the people. It is about what they want. Our infrastructure development is on the progressive chart across the state. “But it comes with a price. But notwithstanding, in the middle of all these issues, a responsive government will listen to the yearnings of her people. When I say I want dialogue, I really mean it. I am ready to respond to that. “In the last one week, we have been meeting different groups. We have been talking. We have been making people to understand. By the end of this week, I think we should be able to come out with something positive,� he explained.
Ambode
T I L L E R S O N P L E D G E S U S S U P P O RT F O R Q U I C K R E L E AS E O F DA P C H I , C H I B O K G I R L S engaging and coordinating efforts for the release of Dapchi and the remaining Chibok girls. “First, we respect the responsibilities of the government of Nigeria and the territorial integrity of Nigeria. But the way we support it is in providing them capability with equipment and also training of the personnel for special operations and sharing intelligence to ensure that they have all the information available to carry out the recovery effort. “But I think it is also important to put this in a broad regional context as well. Boko Haram is a threat to other regions and this has been the subject of my meetings elsewhere and in Africa as well. “In my discussion with President Derby of Chad earlier today, we spoke about the threat of Boko Haram and I think it is important and it’s really been powerful, the collaboration between the Multinational Joint Task Force which Nigeria is a part of and Chad is a part of, to respond to this threat of terrorism by Boko Haram is one of the issues. There are other threats that the leadership of this country has to deal with. “So, the United States is ready to engage and coordinate efforts as well. But we have been supporting, equipping, training, and when we can, provide information. “I think that is the best way we have been helping the government of Nigeria secure the release of the girls, which we hope will be done in a peaceful manner. We hope that something can be worked out and they can secure the release of these girls quickly,� he said. Also responding to a question on why he cautioned African countries against obtaining loans from China, Tillerson said he was only cautioning African nations to look before they leap. According to him, he was cautioning them to be
circumspect in obtaining such loans by critically examining their implications, the terms of obtaining the loans, and the overall impact such loans could have on their local economies. He added that his note of caution came against the background of the negative consequences such loans had had on some countries which took them in the past, saying such countries found themselves in trouble, which should serve as lessons for others. He insisted that there were other options for financing infrastructure projects that could be explored. “I think it is important to clarify that we do not seek to stop Chinese investments from flowing to countries that need those investments. But what we are cautioning countries is to look carefully, to understand the implications of the level of debt, the terms of the debt, and whether the arrangements around the local financing are intact, creating jobs, local capacity, or the projects being carried out by foreign labour. “Is the structure of the financing such that you will always be in control of your infrastructure? Are there mechanisms to deal with a default so that you do not lose ownership of your own assets? These are national assets, whether they are ports, railways, or major highways. “We have seen this occur in other countries that were not so careful and the result was that they got themselves in a situation where they lawfully lost control of their infrastructure, lost the ownership, the operational relationship of it. “And that is the precaution that we are talking about, that there are international rules and norms and financial structures to deal with unforeseen circumstances, and I think we are just cautioning countries to look carefully. “There are other alternative financing mechanisms that are available and I think, in
particular, governments have to create the right conditions around these infrastructure investments. “There is also great potential for public-private sector coinvesting in the infrastructure. And we are developing mechanisms that will also create alternative opportunities financing offers. We have seen many around the world that did not work out so well and we are just saying as friends, be careful,� he said. In his closed-door meeting with Buhari, the president told Tillerson that the government had adopted the option of negotiating for the release of both the Chibok and Dapchi girls as against the military option because it prefers to get the schoolgirls back alive. In a statement, his media adviser, Mr. Femi Adesina, said Buhari added that Nigeria was working in collaboration with international organisations and negotiators for the safe release of the girls. “We are trying to be careful. It is better to get our daughters back alive,� the president was quoted to have informed his guest. Adesina said the president thanked the U.S. for its assistance in the fight against the insurgency, acknowledging that the Nigerian forces were good “but need assistance in the areas of training and equipment�. The statement added: “President Buhari promised that his administration would continue to do its best to secure the country, adding that he would be in Yobe State, from where the Dapchi schoolgirls were abducted, later this week as part of his condolence and sympathy visits to areas where there had been unfortunate events. “The president pledged free and fair polls in 2019, recalling that the former U.S. Secretary of State, John Kerry, had visited Nigeria before the 2015 polls, ‘and he told the party in government then and those of us in opposition, to behave ourselves, and we did’. “The visiting Secretary of State commended President
Buhari on his strides in the anti-corruption war, to which the Nigerian leader responded that the monies recovered were being invested in infrastructure. “Mr. Tillerson said Nigeria was a very important country to the U.S., stressing, ‘you have our support in your challenges. We will also support opportunities to expand the economy, commercial investments, and peaceful polls in 2019’.�
Borno Schools Closed Tillerson’s visit came on the heels of the statement yesterday by the Borno State Government that it had closed all boarding schools in the state, except for those located in Maiduguri and Biu metropolises. Speaking to the press on the modalities being put in place by the state to prevent the abduction of more students from its schools, the state government said the security of students could only be completely guaranteed when peace and orderliness return to the North-east with the defeat of Boko Haram. Four years ago, 276 students of Government Girls’ Secondary School, Chibok, Borno State, were abducted by Boko Haram terrorists. Of the 276 girls who were kidnapped, 113 remain in captivity. The state Commissioner of Education, Hon. Inuwa Kubo, who spoke on the closure of the schools, said all female and male boarding schools, except for those in the Maiduguri and Biu metropolitan areas had been closed. This implies that boarding schools have been closed in 25 out of 27 local government areas of the state. He said: “We have decided to relocate all our girls in boarding schools to within the metropolises of Maiduguri or Biu because we do not want a recurrence of the Chibok case. “If the entire security situation is not addressed,
one cannot be sure that it won’t happen again. If people start seeing that over time there are no more attacks, they will know that peace has returned. “But in a situation where you cannot move to some parts of the state without escorts and you are hearing that in some cases, the military is being ambushed, you cannot deceive yourself and say everything is okay. “If we have a situation where our military is still being ambushed, we cannot leave our girls in boarding schools and even the boys’ boarding schools. “We cannot allow them to continue in boarding schools where the security is porous. We have to relocate the girls to boarding schools within the metropolises and we equally took proactive steps with the male boarding schools, because they cannot be said to be interested in girls alone. “It is just that they (Boko Haram insurgents) have received more attention by abducting girls; there is more to gain by the insurgents when they carry girls because of the concerns of the people and government more for the womenfolk.� Kubo revealed that the state government had collapsed all the girls’ boarding schools into Biu and Maiduguri, adding: “There are some other communities that operate girls’ schools but are not boarding schools, they have day schools, with the girls going back to their homes to sleep.� The commissioner, who also commended the police for deploying their men in schools in the state, expressed hope that the deployment was sustained and not an action dictated by the emotions brought about by the abduction of the Dapchi schoolgirls. He said measures had been taken to get all the schools in the troubled state, the birthplace of Boko Haram, shielded from any further attacks by the terrorists. Kubo said: “It is a security measure and not meant for
public consumption, but I can assure you that all the necessary machinery and apparatus have been put in place to safeguard our children.� He also revealed that members of the vigilante group, known as the Civilian JTF, and local hunters had been deployed to keep schools safe in the state. He, however, lamented that even with the arrangements put in place to secure the schools, no one was certain that there would be no more attacks by Boko Haram. “What is most important and paramount is this, whatever arrangements you have is dependent on local security. What I am trying to say is that if a community is infested with insecurity, no matter the arrangements, it cannot stand the test of time. “Like what happened in Chibok and like my issues with the former president (Goodluck Jonathan), he asked as to why we allowed these girls to be abducted in Chibok. “He knew very well that the North-east is infested with insecurity, if there was no insecurity, no one would come into a school and pick up girls. “So, whenever the security situation improves in the area, apprehension within schools and communities would naturally wane. But as long as insecurity is not totally addressed in the communities, whatever measures you put in place cannot succeed. “This means that the federal government should continue in its determination to make sure that peace is restored. “And people too have roles to play because the federal government can only act on information given to them by the members of the community. I believe much has been achieved, but more can be achieved if having recorded some success, the security agencies do not relax. “When the security agencies relax sometimes, this has given the insurgents the opportunity to continue with their nefarious activities,� he added.
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
TRUST AND NATIONAL PENSION COMMISSION
Chukwu Ibiam argues that Aisha Dahir- Umar has engaged in various internal reforms to cleanse and strengthen PenCom
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ar beyond and above the orchestrated political drama surrounding the National Pension Commission (PenCom), there seems to be an absence of focus on what is quintessential for the industry-there’s a woeful deficit of public discussion and awareness on the trust building initiatives that the commission has recently engendered. Very little is discussed about the ongoing steps for internal reforms, increased professionalism and transparency at the commission. Rather much energy of public dialogue is being squandered on such matters as to what should be the tribal pedigree and geo political origin of the occupant of Director General’s position at PenCom. Despite the allure of such issue and other diversionary and emotional subjects regarding PenCom, they do not bear any significance on the vital obligations of the regulatory agency. It should be clear that the foremost consideration for the Nigerian worker who has toiled into old age and dependent on their pensions is the indissoluble guarantee that their savings are secured. While the elites who have appropriated huge personal wealth may be advancing other interests or even manoeuvring around the potential N8 trillion funds under the fiduciary supervision of PenCom, the average Nigerian pensioner has only one interest - to see that dependable and trusted management is at the helms of the commission’s affairs. Unfortunately, the voices of those who bear the greatest risk if the pension commission fails in its obligation, those voices are regrettably suffocated by jingoists with dubious motives in the industry. As a long time monitor of issues relating to workers’ pension worldwide, I can affirm that the most essential asset in any such operation is the element of trust. If PenCom is to gain global respect as the supervisory custodian of the life-saving assets of pensioners, then the most crucial and vulnerable stakeholders must have confidence in the competence and honesty of the commissions’ management. For instance, irrespective of her tribe, it would always be questionable as to why a former chief executive of PenCom expended the asset of the commission for the establishment of a television station for the agency. The station on which about N2 billion was allegedly spent is literally of no value to either the commission or the stakeholders whose interest PenCom was supposed to advance and protect. The same kind of unbiased scrutiny should be extended to the annual fiesta called, World Africa Pension Summit that was staged by Pen Com for three consecutive years (2014, 2015 and 2016). How can it be defended or explained that a sum of N1 billion of the commissions’ resources was spent on this event every year? While the prestigious event could have been of considerable social and self-enhancing benefits for some leaders of PenCom, the event was denounced by respectable stakeholders in the industry to be absolutely valueless to the statutory mission of the commission. Are the stakeholders and contributors of PenCom not entitled to have answers from those involved in these questionable projects in the aforementioned years? Additionally, there’s need to also unearth the facts relating to the lawsuit in which PenCom is now defending the agency as a garnishee following the obtainment of a N400 million private loan by a top executive of the regulatory agency. With such a troubling history, PenCom needed new transparent
IF PENCOM IS TO GAIN GLOBAL RESPECT AS THE SUPERVISORY CUSTODIAN OF THE LIFE-SAVING ASSETS OF PENSIONERS, THEN THE MOST CRUCIAL AND VULNERABLE STAKEHOLDERS MUST HAVE CONFIDENCE IN THE COMPETENCE AND HONESTY OF THE COMMISSIONS’ MANAGEMENT
hands and strategic minds to guide its affairs. Since her appointment as acting director general being the most senior staff in PenCom’s hierarchy to fill the vacancy left in 2017, Acting DG, Aisha DahirUmar, has engaged in various internal reforms to cleanse and strengthen the image of PenCom. A widely respected management scholar and seasoned administrator, Dahir-Umar made thoughtful executive review of the pending programmes by her predecessor while she scrapped those with questionable public benefits. Despite intense pressure from those ingrained in the sickening sociology of PenCom, the acting DG took the courageous decision not to resume what was obviously a N1 billion annual shenanigan in the guise of a global pension summit. Dahir-Umar has equally acted with speed in catalysing the progressive projects established by the founding DGs of Pencom. She has been tireless in setting up the structures for the smooth commencement of the Micro Pension Scheme. Dahir-Umar’s enthusiasm in this project is understandable as the scheme would encourage people without regular income to establish a culture of savings. Such small business owners as barbers, taxi drivers and low income market women will be offered special flexibility which will allow them early withdrawals to meet up with exigent needs especially for reinvestments in and expansion of their enterprises. Informed watchers of the industry are keenly watching PenCom’s comprehensive preparation and campaign to ensure widespread registration and collections as well as attractive structured payments of benefits as envisaged under the scheme. One incontrovertible fact is the determined effort of the new director general to regenerate trust in the supervisory agency and the commitment is yielding desired results. There are signs of increased confidence in PenCom as the new management did not lose time in sending signals of new orientation internally and to concerned contributors and participants in the industry. Within a short period of Dahir-Umar’s tenure, the assets under the new management recorded an unprecedented growth of about 16 per cent- a leap from N 6.42 trillion to N 7.51 trillion between March and December 2017. The positive consequence of the transparent and affirmative fidelity to the best practices of global pension management has additionally buoyed the population of contributors with an approximate 400,000 within a period of six months. From every informed projection, the future of the pension industry under PenCom is formidably encouraging. It seems that the new management is prepared to usher in a new era of greater participation and understanding of the affairs of the regulatory agency as a way of building confidence and trust. The fiduciary duty of regulation, supervision and ensuring the effective administration of pension matters in Nigeria are too vital to the lives of millions of pensioners and the nation’s economy. The new mana gement of PenCom must therefore embrace the historic obligation of its assignment with a sense of sacred patriotism and professionalism so as not to betray the hopes and aspirations especially of those who depend on the agency for their very survival.
Ibiam, economic analyst, wrote from Enugu
‘FISTORY’AND THE OKOROCHAYEARS Imo State is on the search for a credible candidate that will end the years of waste, writes Lucas Umunna Oputa
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or the sake of the false history Owelle Rochas Okorocha orchestrated in Imo state, permit this writer to use the literary licence of the portmanteau word “Fistory� for False History. Many may have forgotten, but Okorocha was elected to Government House Owerri with the mandate of the All Progressive Grand Alliance (APGA). A master of false pretences, Okorocha presented the face of a progressive before members of APGA and deceptively gained their mandate and by the victory of his party, APGA, in that gubernatorial election, became the elected governor of Imo State. Shortly thereafter, Okorocha like a tail intent on wagging the dog, began the Fistory in Imo State by unilaterally taking the mandate of APGA in the state to instigate an alliance with the merger partners of the All Progressives Congress (APC), without consultation, reference or consensus agreement by the political party that nominated him for election, its members or party executive. Conscious that an individual member cannot unilaterally merge a party with others as indicated in section 84 (5) and 97 of the Electoral Act which implies that APGA should have ceased to exist if it was a party to the APC merger and aware that the highest court in Nigeria, the Supreme Court had previously decided in the famous case between Governor Amaechi vs Omehia, that the gubernatorial mandate belongs to a party and not the individual, APGA as a party instituted a suit, praying the court for an order directing the deputy governor of Imo State or speaker of Imo state House of Assembly or any officer next in line to the position of the governor of Imo, who is a member of APGA to be sworn-in as the governor of Imo State. If our courts were consistent in enacting
justice, that order would have orchestrated history in Imo State, but alas, our courts do not always deliver justice, and that was how Imo witnessed democratic “fistory� instead of democratic history. Fistory in Imo State, true to the nature of Okorocha, began with the promise to develop Imo State and improve the welfare of its denizens, which underpins the ideological formation of APGA under Chief Odumegwu Ojukwu, but instead of increased welfare, leadership was delivered with extortionate zeal and deception by Okorocha. Just as Fistory in Imo under Okorocha began with the dispossession of the gubernatorial mandate of APGA to APC, it also delivered the dispossession of Imo citizens of property ostensibly for public use. More fistory cruelly emerged from the ordeal of pensioners in Imo State. By January 2017, the state owed pensioners between 22 and 77 months arrears of their due earnings. In frustration at the gross lack of empathy, the state chairman of pensioners, Chief Gideon Ezeji led pensioners to block Okigwe road as well as the entrance to Government House Owerri. In response, Okorocha devised several plots to pressure the pensioners to forfeit between 50 and 60% of their entitlements of arrears up to December 2016. The traditional institution and local governments will also look back on the Okorocha years with an agonising tale about his duplicitous “Fistory�. Okorocha introduced a balkanisation/Bantustan policy of breaking traditional institutions at will, creating all manner of traditional stools out of political expediency rather than from autochthonous consideration of communities of interest. For fear of facing the verdict of the people, he repeatedly lied but failed to conduct local government elections, thereby breaching the Nigerian constitution and
risking the sequestration of federal funding of affected LGAs. The funds that did come through were used with state diktat, wherein the local governments were run like mere vassals of the Okorocha regime. To exemplify this fact, the governor directed from Owerri that about 12,000 local government workers be suspended for spurious claims he made against them, directing the punitive verification of workers at LGA levels; just imagine that the federal government decides to order a verification of state government staff, so much for local government autonomy under the Fistory of Okorocha. Tragically, the constitutionally enabled autonomy of the judiciary was not spared the Fistory of the Okorocha years. At the height of the onslaught on the state judiciary, the Nigerian Bar Association (NBA) Owerri Branch, was compelled to sue the governor. The suit number NICN/OW/58/2017 filed against Governor Okorocha prayed the court, among other things, for “A declaration that the practice whereby the respondents withhold or refuse to pay the sitting Judges of Imo State High Court and Judges of the Customary Court of Appeal that portion of their remuneration released to the respondents from the Consolidated Revenue Fund is a breach of Oath of Office of the 1st respondent as the Governor of Imo State who swore to preserve, protect and not to mutilate it�. Furthermore, Okorocha’s Fistory was at its nadir when he purported to sack the Chief justice of the State without recommendations from the National Judicial Council, an act that alarmed even his friends as much as they confirmed the fears of his foes that nothing was beneath him in his “historical� crusade. To compile the false history of the Okorocha
years will be a chronicle of pain, disappointments, deceit and missed opportunities, for a state which was prepared for him for effective economic take-off, a state with one of the nation’s highest standards in human resource capacities, if only he had not deviated from the progressive pathway that the Imo people mandated through a progressive vision. But in his true nature, as water will find its natural level, a man of deceit found home and comfort in the party and character that suits his nature. But the people of Imo State can now breathe a sigh of relief as the search for a third political force gains national currency, and a new way different from the rot of the past gains momentum. Imolites can now look to the end of the Okorocha years as opinion leaders are lending their weight of credible support to “a light of Progress in the horizon�, a young and vibrant hopeful, untainted by the rot of the political establishment in Imo State but honed by accomplishments in different fields. History beckons an end to Fistory as a great son of Imo State is giving very positive impulse to the urgings of wellmeaning Imolites to bring the “light of progress� to the governance of Imo to demonstrate the true meaning of development which he has enacted in other spheres. At last as the elders and people of influence in the state have successfully thrown their weight and experience behind him to take up the challenge to restore the mandate and hope that was usurped and betrayed by the Fistory that Okorocha enacted like a larcenous malady that ails Imo State still. With the ongoing consultations which the light of progress is embarking upon to concretise the great vision for the future of the state, the people will have one more opportunity to rewrite their history by defying the Fistory Okorocha is hoping to extend through his puppets or proxies.
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EDITORIAL THE REX TILLERSON STOP OVER
The visit fits into the US long standing policy of containing trouble and trouble makers in faraway places
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or an administration that has had scant regard for, and interest in the continent, the visit by the United States Secretary of State, Mr Rex Tillerson to a handful of African countries acquires some signiďŹ cance. Despite cutting short the number of days, Tillerson nevertheless visited Ethiopia, Djibouti and Kenya before arriving Nigeria yesterday for a few hours. Ordinarily, the global gravity of the US dictates that the engagements of its chief diplomat attract attention and headlines. And quite expectedly, the choice of countries on this visit was dictated more by the interests of the US than some globalist illusions. This was not a trip about the issues that usually dominate such visits in the past: AIDS pandemic, massive poverty or indeed about how to uplift African economies from the jaws of a new debt burden. This was an exercise in undisguised marketing of ‘America First’. Whatever Tillerson may have said in Abuja or elsewhere in Africa, the real interests are ďŹ rst and foremost strategic from the point of view of US security and its long standing policy THE CHOICE OF KENYA, of containing trouble CHAD, NIGERIA, DJIBOUTI and trouble makers in AND ETHIOPIA HAS faraway places so that EVERYTHING TO DO no harm comes to the WITH THE CLEAR AND American mainland. PRESENT DANGER Therefore, the choice of POSED BY TERRORISM Kenya, Chad, Nigeria, AND THE SPREAD Djibouti and Ethiopia OF DESTABILISING had everything to do FUNDAMENTALIST with the clear and THEOLOGIES present danger posed by terrorism and the spread of destabilising fundamentalist theologies. Stripped of all pretensions, there is little, if anything, in this itinerary that could uplift the economies of these African countries or their peoples either now or in the future. Meanwhile, it was heart-warming to hear from Presi-
Letters to the Editor
dent Muhammadu Buhari yesterday that negotiations are underway, in concert with international organisations to secure the release of the Dapchi schoolgirls recently abducted by Boko Haram terrorists. But he should not place much hope in his desire for “assistance in the areas of training and equipment� from the Americans. The military cooperation between Nigeria and the US has not made much progress aside the fact that a few combat aircraft were sold to our military. In spite of the basing of US drones and service personnel in Chad, Boko Haram has continued to operate freely as evidenced in the recent mass abduction of the Dapchi school girls in Yobe State.
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TO OUR READERS Letters in response to speciďŹ c publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.
OSINBAJO AND FEDERAL GOVERNMENT’S APPOINTMENTS
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uman beings are such complicated creatures who can hardly be satisfied. And Nigerians, though great in mental capacity and wisdom, have proven to be amongst the most complicated of God’s creatures on earth. At least, I have come in contact with many races and nationalists of the world. And despite a natural phenomenon the criticism of every Nigerian government often takes different dimension whenever each government comes to power. The leadership of President Muhammadu Buhari is not different. It is on the limelight of this trend even as some citizens are merely proving to be the humans they are. We can recall that the former President Goodluck Jonathan declared his government as the most criticised in the history of Nigeria. Today, the greatest criticism confronting the incumbent government is alleged skewed appointments in favour of the north. But fact and figures released by the presidency have proven otherwise. The second citizen of Nigeria, Vice-President Yemi Osinbajo categorically debunked the claims with facts and figures. Even thence, claims and counter claims over the issue are yet to be doused despite several clear explanations by different organs of the government. This allegation has been over-flogged but it continues to resurface at national discourse, nearly three years after the government came to power. The more it is thought to be addressed, the more it pricks critics and opportunists. Some unrealistic claims put the appointments at 81 per cent for the northern part of Nigeria. Groups and prominent citizens have taken position on this burning national issue. From all angles, analysis shows that the real talk is between about appointments
redictably, Tillerson said Nigeria was a very important country to the U.S, stressing: “You have our support in your challenges. We will also support opportunities to expand the economy, commercial investments, and peaceful polls in 2019.â€? Nice words. But there should be no expectations from this ying visit beyond the symbolism of diplomatic handshakes and rehash of banalities. Tillersons may have had general observations to make to his Nigerian counterparts on the need to deepen democratic culture in the country as the ultimate guarantee of peace and security. Yet, he could only have had an audience on such matters for the simple reason that he was ying the US ag. As the number one ambassador of the Donald Trump Washington, Tillerson must have had quite a burden retaining attention given the fact that the administration he represents is presided over by a man whose actions and words are a travesty of the ďŹ nest traditions of American democracy as the world has come to know it. While we wish Tillerson safe journey back to America, we must nonetheless stress, at least for the beneďŹ t of those who superintend over our affairs, that such diplomatic stopover are meaningful only if the Nigerian state conducts itself with the dignity and sense of purpose that would compel leaders of more advanced societies to show greater respect for African countries and their governments.
of Christians and Muslims on one hand and about the appointments of northerners and southerners on the other hand. Out of about 6,000 appointments announced by the government at its advent, occupied 157 positions were publicised in 2017 and it was discovered that the three geopolitical zones of the north had less numbers than the three of the south. The president promised to expand his government and at the end of December 2017, a large list of appointments of 209 board chairmen and 1,258 board members was publicised and quickly retrieved for review on discovery of some dead Nigerians in the list. The criticism intensified. The vice president further explained that Buhari’s cabinet comprised 20 Christians and 18 Muslims with four of the five southeastern states having substantive ministers while seven northern states had ministers of state. Further analysis by the VP revealed that the number of Chief Executive Officers of federal agencies and parastatals is from Ogun State followed by Anambra; that is more than the number of those from Katsina State or anywhere. This is in addition to assigning three huge portfolios to a single minister from the Southwest and two other big portfolios to ministers from the zone. He reassured of the president’s stand to look into the security positions. Special Adviser on Media and Publicity, Femi Adesina, has often dismissed such claims. Putting the records straight that majority of the appointees across different portfolios are not from the north, he said the president remains committed to serving all Nigerians, no matter the tribe, ethnicity or region, and he is also determined to ensure that Nigeria remains strong and united. Muhammad Ajah, Abuja
AN OPEN LETTER TO BENUE STATE UNIVERSITY
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efore now, Benue State University awarded a scholarship to Mr. Shima Joseph Ajav, a physically challenged student who has refused to allow his condition of being on the wheelchair end his future and kill his dream. I was very happy with the kind support given to Mr. Shima by the university and I applauded the university in some publications. Unfortunately, the scholarship in question seems unrealistic even after the approval of the N400, 000 by the concerned authority. The university has failed to release the money. As a result, Shima is now going up and down trying to raise money to pay for his school fees. However, while investigating why the university failed to authenticate or make its scholarship to Shima a genuine one, I was able to speak with Mr. Abayam from the academic
planning. Mr. Abayam is also the one in possession of Shima’s file that contained a letter by the concerned authority which approved the N400,000 for his scholarship. According to Mr. Abayam, the university could not release the money because the school is broke. I asked to know if the school was not aware of its financial status before awarding a scholarship to Shima but Mr. Abayam wasn’t able to answer my question. But I hereby implore the school to redeem its pledge to Shima to enable him clear his outstanding fees. Shima is one of the students that recently graduated, waiting for the National Youth Service. If something is not done now to enable him pay off his fees, he will not be mobilised for NYSC and that will be very a big disappointment. Awunah Pius Terwase, Mpape, Abuja
T H I S D AY ˾ TUESDAY, MARCH 13, 2018
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POLITICS
Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 07054786260 SMS ONLY
EXECUTIVE BRIEFING
How not to Secure Endorsement The recent controversial endorsement of Abia State governor, Dr Okezie Ikpeazu for a second term by some of his kinsmen is causing disaffection among the entire Ukwa/Ngwa clan, writes Davidson Iriekpen
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n a bid to make Governor Okezie Ikpeazu’s second term bid an easy ride, the people of Ukwa/Ngwa political bloc of Abia State penultimate week adopted him as a “consensus candidate” for the 2019 governorship election and barred all “true indigenes” of Ukwa/Ngwa from challenging him. The adoption was the highlight of the second edition of the Great Ukwa/Ngwa Declaration, which held at Okpualangwa, the headquarters of Isiala Ngwa North Local Government and ancestral home of Ngwa people. The motion for Ikpeazu’s adoption was moved by former Senate President, Chief Adolphus Wabara and seconded by former Director General of the National Directorate of Employment, Dr. Chukwu Wachuku. The event brought together personalities from the nine local government areas that make up the Ukwa/Ngwa bloc, with traditional rulers, politicians, businessmen, among others, backing the decision to adopt Ikpeazu for a second term in office. Ikpeazu became Abia governor in 2015 on the platform of the Peoples Democratic Party (PDP) and with the expectation that he would seek second term ticket on the same PDP platform. It was based on this that his kinsmen declared that no Ukwa/Ngwa person even in the opposition parties should nurse any governorship ambition and should also accept to be a running mate to governorship candidates in the opposition parties. To drive home their point and ensure compliance, the people of Ukwa/Ngwa warned in a communiqué issued at the event “that any Ukwa/Ngwa son or daughter or community that violates this agreement as contained in this communiqué shall be ex-communicated.” Aside from the threat of ex-communication, traditional rituals were also performed to ensure strict compliance witth the decision that Ikpeazu should not be challenged by any of his kinsman for the position of governorship of Abia in 2019. In what the organisers of the event regarded as “the final word of Ukwa/Ngwa people” this position was reinforced with collection of signatures, which according to them, has reached “more than a million and still counting.” The communiqué read by Chibuike Nwokoukwu (SAN), explained that the decision to adopt Ikpeazu as consensus candidate was to enable him actualise his second term bid. According to those that subscribed to the great Ukwa/Ngwa declaration, Ikpeazu has performed well enough to deserve another term of four years after completing his current tenure, adding that his predecessors, Chief Orji Uzor Kalu and Senator Theodore Orji all completed two tenures in office. “The people of Ukwa/Ngwa are very proud that the first governor of Abia State of Ukwa/ Ngwa extraction, Ikpeazu, has indisputably raised the bar of performance in governance. He has shown unprecedented political will in tackling the problems of the state,” the communiqué reads. The convener of the event and frontline Abia politician, Ochiagha Reagan Ufomba, said in his welcome address that while Ikpeazu’s kinsmen acknowledged his accomplishments in office so far, “It is instructive that when a player in a team performs creditably that confers on the one the opportunity to be fielded in the next game.” Elder statesman, Emmanuel Adaelu, who chaired the event, noted that since justice, equity, and fairness have been enthroned in Abia politics, it should not be truncated. In his response, the governor said that he was humbled by the decision of his kinsmen to adopt him as their consensus governorship candidate for 2019, adding that it was a fitting acknowledgement of his performance in office. He stated that equity demands that since other two zones had been supported to stay for eight years at Abia government house, his own case
Dr Okezie Ikpeazu of Abia State
should not be different, as according to him, he has not been found wanting in his governance of the state. He lauded the Ukwa/Ngwa people for their bold initiative to support his second term bid, assuring them that having given him the go ahead it behoved on him to do the political battle come 2019. “We are not confused we are focused,” he said, adding that people should endeavour to obtain their voters card so they could use them to make a statement in 2019. However, the endorsement came less than four weeks after civil society groups under the aegis of Southeast Based Coalition of Human Rights & Good Governance Organisations (SBCHROs) rated the same Ikpeazu and Governor Rochas Okorocha as the worst governors in the South-east geo-political zone. The groups in a joint press briefing said both Imo and Abia States have produced worst governors in the zone in the current political dispensation. In a 22-page report titled: ‘The best and the worst in South-east,’ the groups totalling 17 in number and led by International Society for Human Rights and the Rule of Law (Intersociety),
The event humiliated the Ukwa Ngwa traditional institution as our once -respected traditional rulers were coerced and stampeded to abandon their palaces and proceed to an open field kilometers away from their royal domains to go and endorse a governor
said Imo and Abia states have never been blessed with good governors since the enthronement of democracy in 1999, adding this accounts for their large scale underdevelopment. The groups which include Civil Liberties Organisation, Centre for Human Rights and Peace Advocacy, Human Rights Organisation of Nigeria, Society Watch and Advocacy Project and Int’l Solidarity for Peace & Human Rights Initiative, among several others, rated Enugu, Ebonyi and Anambra as having been luckier, except that the record of Anambra was dented by one of her governors who ran a single term earlier in the present political dispensation. SBCHROs stated that good governance and charismatic leadership has eluded the Southeast zone, causing her to be shackled by what they referred to as transactional governance and chronic bad leadership. “From the Second Republic to date, Chief Sam Mbakwe of Imo State, Chief Jim Nwobodo of the old Anambra State and Mr. Peter Obi stand out as former governors whose performance is written on marble. Within the zone, Chief Rochas Okorocha of Imo State stands out as the worst serving governor, while Dr. Chinwoke Mbadinuju of Anambra State (1999-2003), Chief Orji Uzor Kalu and his successor, Chief Theodore Orji of Abia State belonged to worst past governors.” Besides the verdict of the civil society groups, many Abians are unhappy with the Ikpeazu’s administration for its poor performance in the last three years. Sources in the state have it that governor hardly sits down in the state for one week to attend to pressing issues of governance but constantly travelling overseas under the pretext of searching for elusive foreign investors and frittering away huge resources that could have been used to develop Aba which he promised to transform during his campaign and which is still in the doldrums. They stated governance in tatters with piles of files unattended to. They also complained of bad roads in the state which make a lot of towns and villages inaccessible. It is against this background that a prominent son in the state, Asigbu Ogbu, described the endorsement of the governor as a charade. He stated that though the people who endorsed the governor were all from his political party, the PDP, he condemned their action, describing
it as barbaric. “The endorsement of Ikpeazu was a very big charade, undemocratic and dubious. This is the most bizarre and undemocratic endorsement I have ever seen. How can few people sit down somewhere to endorse a governor who cannot provide people with roads, jobs and better life? How can they be thinking of another term for the governor that failed abysmally? This was how they endorsed Kalu and Orji for second term and today see what the state looks like. Abia is the most backward and least developed in the South-east. This is because of the kind of leaders we have always foisted on the people The joy is that these people endorsed the governor do not have electoral value,” Ogbu said. Also, a group, Concerned Ukwa La Ngwa Indigenes has denounced the endorsement, describing it repulsive, demeaning and deceitful. It also dismissed the move as “a hilarious charade” carried out by a few number of individuals not large enough to constitute a award. In a statement signed by Dr. Max Nduaguibe, Chief Sir. Chris Nkwonta, Mr. Chidi Ajaegbu, Prince Uzor Nwachukwu, Chief Okey Kanu, Chigozie Onyeukwu Ubani and Hon. Ishmael Onuoha, who are eminent indigenes of Ukwa Ngwa, they stated that the conveners of the endorsement forum impersonated and misrepresented eminent sons and daughters of the area. The statement reads: “We find this joke repulsive, demeaning and deceitful, and thus denounce and dismiss it in its entirety. The conveners impersonated and misrepresented eminent sons and daughters of Ukwa La Ngwa, by falsely using such an umbrella body to host and project an event that was entirely a PDP/Abia State government affair. This act of impersonation destroyed everything these individuals wanted to achieve by hook or crook. “Ukwa Ngwa is made up of people of different faith which includes, Christians, traditionalists, atheists, unfortunately the organisers and their sponsors disregarded and disrespected many notable Ukwa Ngwa indigenes and their faith by barbarically and openly exhibiting dirty fetish practices that sought to diminish Ndi Ukwa Ngwa, and discredit the faith of those who were falsely included through the misuse of the nomenclature “Ukwa Ngwa” in the event. “The event humiliated the Ukwa Ngwa Traditional Institution as our once -respected traditional rulers were coerced and stampeded to abandon their palaces and proceed to an open field that are kilometers away from their royal domains to go and endorse a governor under the alter of clannish duress, when such traditional rulers, as non political custodians of culture should have been in their palaces to receive whoever seeks their blessings to run for an election. “The conveners were, as they interestingly admitted, the same characters that endorsed a non performing governor for re-election in 2003, through the same so called ‘Great Ukwa Ngwa declaration.’ This, once again implies that the Friday endorsement, just like that of 2003, wasn’t premised on the performance of Governor Ikpeazu, but because the organisers believe it’s their turn; what a tragedy. “In the light of the above listed anti Ukwa Ngwa abominations committed by these selfserving felons in the name of Ukwa Ngwa declaration, we as distinguished sons and daughters of Ukwa Ngwa wish to dissociate ourselves from the charade conducted by these wavering individuals in their purported endorsement of Ikpeazu as sole candidate for 2019 election. This is not only undemocratic but equally childish. It is an insult to better qualified Ukwa Ngwa sons and daughters and other Abians who are much more endowed with the requisite vision, capacity, and intelligence for governance.
T H I S D AY ˾ TUESDAY MARCH 13, 2018
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TUESDAY, MARCH 13, 2018 ˾ T H I S D AY
FEATURES
Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com
The Evolution of Big Brother George Orwell, in his seminal novel ‘1984’, predicted a communist dystopia. China might have found a way around his prophetic doom. Solomon Elusoji writes
Xi Jinping...the most powerful man in China
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n 1941, Adolf Hitler set his eyes on Moscow, then the capital city of the USSR. Historians generally believe that had Hitler succeeded, the story of World War 2 would have been very different, red instead of green. There’s a story that during this period, when public power supply was epileptic due to the destructive antics of the Germans and power was heavily rationed, the lights in Joseph Stalin’s office had to be left on all night, whether he was there or not. The rationale was that everyone had to ‘know’ that Stalin was constantly working to keep the people safe, even while they slept. It was not uncommon for people to bring their petrified children downtown to see the one window in the Kremlin with the lights on. The Stalin lights are a kind of metaphor for the nature of facts, and how their fluttering incandescence can be used as tools to shape and reshape the mould of history, whether for God, gold, or glory. In George Orwell’s ‘1984’, this practical revisionism was one of Big Brother’s major tool kit in asserting his authority over Oceania, a totalitarian state where the ruling party wielded total power over the lives of its peoples. He “who controls the past controls the future,” Orwell wrote. “Who controls the present controls the past.” This reporter read 1984 at 15, as a recommended text for an entrance examination into the university. The prose was bleak, hopeless and utterly depressing. He can still remember sitting on a stool in a dingy room, thumbing through the last pages, mentally parsing through a text riddled with images of a humiliated, mutilated Winston Smith who, in the end, loved Big Brother. There are lots of Big Brothers in the world: forces that strive to assert dominance over other forces and set up control stations. But Orwell’s Big Brother is a Communist Party leader, a caricature of, most likely, Joseph Stalin, who was unarguably the face of communism in 1948 when the book was
published in Europe. This Big Brother is vicious, never hesitant to physically invade the physical body to infiltrate the mind. He is also omniscient: he knows the thoughts in your hearts and nothing is hidden from him. It does not matter who you are or where you go, Big Brother’s eyes are trained on you, always watching. But the creepiest fact about Orwell’s Big Brother is his ambition: to create a race of men totally devoted to the ideals and cause of the party and to extinguish those who refuse the Party a place in their hearts. Besides, Big Brother’s idea of devotion is not just mechanical or routine, it has to be genuine, a spring of fresh love that renews itself every morning and never runs dry. It is difficult to estimate the impacts books like 1984 - books that imagine the end of personal freedom - had on post-World War 2 Europe but they definitely laid the foundation for the West’s fear of Big Brothers, building on blocks laid by the French Revolution, the
What has puzzled many China ‘watchers’ more, especially those from the West, is how China has been able to remain communist as it grows richer and more of its citizens become prosperous
American Constitution and political theorists like John Locke and Montesquieu. The Korea and Vietnam wars were mostly struggles to either prevent or enthrone a kind of Big Brother and the cold war, at least from the American viewpoint, was a war against the forces of darkness. Big Brother was a slimy, devilish creature conjured from the pit of hell to condemn the world to a dystopia, a place where there was no laughter, no love, no light, only the Party. In many ways, the campaign against Big Brother was a success, at least on the surface. The fall of the Berlin wall, the reunification of Germany and the breakup of the USSR had several historians touting “the end of history”. But, perhaps, they were too short sighted. To the East, an ancient kingdom which had been humiliated by Western powers in the 19th century was picking up the fragmented pieces and reconstructing a dazzling vision of its former greatness, all this under the guidance of Marxim-Lennism, a political and economic philosophy, if Orwell is to be believed, that very much suits the rise of Big Brothers. An economic miracle One night this February, I touched down at Beijing Capital International Airport, courtesy of the China Africa Press Centre. The temperature was freezing but, fortunately, I had a thick coat on as I trudged along smooth surfaces, dealing with immigration, boarding a shuttle train and picking out my luggage from a grounded rollercoaster. Outside, Beijing was resplendent, with lights under the night sky illuminating tree-lined roads and ubiquitous sky-scrapers. The next morning, I went out looking for breakfast and ended up at a small Italian restaurant across. The restaurateur, a beefy, amiable middle-aged man, told me his name was Pascalino from Genoa. The pizza was good. Beijing is the most populous capital city in the world but you cannot know that by
observing its beautiful road network, which is heavily supported by a fleet of bicycle riders along the sidewalk. The subway, too, works and there are no shortage of mesmerised, tourists gawking, camera in hand, at its expansive, glorious scenery. Although less flamboyant than commercial centres like Shanghai and Hong Kong, the transformation of Beijing from an ancient capital to a modern one is one of the finest marks of China’s meteoric rise since the 1970s. When the Communist Party came to power in 1949, China was a fragmented nation, bruised from the many blows and uppercuts it had suffered from Western and Japanese imperialism since the advent of the 19th century. But the Communists were determined to unite the nation and they promised nothing short of a return to the country’s historic glory. But, at first, things did not go as planned. The leader of the Communist Party and leader of New China, Mao Zedong, fondly referred to as Chairman Mao, was a charismatic, firebrand revolutionary who was totally committed to the lessons of Marx and Lenin and sought to underpin the nation’s transformation on their teachings. Although he would lay the foundation for what would later become one of the most amazing economic miracles in human history, he made many mistakes. One of such was his Great Leap Forward mandate, an agricultural and technological programme that was not based on science and led to a terrible famine in rural China that led to the death of millions in the 1950s. Historians, also, fault his cultural revolution, a campaign that nearly destroyed China’s cultural and religious heritage. When Mao died in 1976, the Communist Party started to rethink many of his policies. In December 1978, China’s new leader, Deng Xiaoping, announced the Open Door Policy, a reform which opened the door to foreign businesses that wanted to set up in China. And, gradually, the party loosened its grip on the economy,
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China's economy is set to be the largest in the world, ahead of the United States
allowing the principles of capitalism to provide nourishment while strengthening its grip on politics. “China crammed into 30 years the kind of brutish, uplifting makeover that took as long as a century in the industrial revolutions in the UK and the U.S.,� Richard McGregor says, in his breathtaking book ‘The Party’. Since 1978, “the economy has doubled in size every eight years. In a comparatively short space of time, the Party has presided over an epic migration of farmers from the countryside to the cities; an explosion in private ownership - of houses, cars, businesses and shares; the creation of a middle class twice the size of the population of the United Kingdom; and lifting out of poverty of hundreds of millions of people. In the last decade, China has managed to gallop or drag itself through multiple calamities: the Asian financial crises in 1997 and 1998; the downturns in the U.S. in the wake of the bursting of the internet bubble and the downturns in the U.S. in the wake of the September 11 terrorist attack; and the homegrown SARS emergency in 2003, which threatened to bring businesses inside the country to a halt. When the credit crunch hit the global economy in 2008, China was better equipped than just about anywhere in the world to handle the sudden downturn.� When a friend asked me what I was doing in Beijing, I referred him to the above paragraph and said, “I want to understand how they did it. The value of bread The ‘how’ to China’s turnaround can be simply summarised down to the realisation that the ‘Soviet Central Planning’ was a terrible way to run a modern economy. Simple answers, of course, never tell the full story. However, what has puzzled many China ‘watchers’ more, especially those from the West, is how China has been able to remain communist as it grows richer and more of its citizens become prosperous. The assumption is that a burgeoning middle class will inevitably lead to heightened calls for Western-style democracy. Western experts point to the 1989 Tiananmen Massacre and the Party’s vicious crackdown on the Falun Gong sect in the early 2000s as examples of how and why a democratic
revolution is imminent in modern China. All these punditing, of course, are based on the premise that dictatorial communism and socialism are inherently flawed as political method of governing a modern society. On the surface, the argument appears to have some merits. China is a nation with a leadership that bears close resemblance to Orwell’s Big Brother. Its political life continues to be tightly regulated by the Party, stifling debate. This February, after the Party proposed removing a clause in the constitution that allows President Xi Jinping to extend his stay in power beyond the end of his second term in 2023, several key terms on the Chinese internet were censored. On Sina Weibo, China’s equivalent of Twitter, censored phrases included: ‘I don’t agree’, ‘migration’, ‘emigration’, ‘re-election’, ‘election term’, ‘constitution amendment’, ‘constitution
In December 1978, China’s new leader, Deng Xiaoping, announced the Open Door Policy, a reform which opened the door to foreign businesses that wanted to set up in China. And, gradually, the party loosened its grip on the economy, allowing the principles of capitalism to provide nourishment while strengthening its grip on politics
rules’, ‘proclaiming oneself an emperor’, and ‘Winnie the Pooh’, a nickname that social media users have coined for President Xi, which is often used in derogatory terms. According to the BBC, the comments remaining on the popular Sina Weibo microblog are “mostly monosyllabic statements from users simply saying they ‘like’ or ‘approve’ the amendments.� But the Party tends to defend its position on censorship by noting that democracy should be developed in stages. “Real democracy does not come in the form of absolutes,� President Xi has said. “It is subject to specific constraints. At the same time, democracy develops in stages and cannot be rushed. The way we cultivate the quality and management of our democracy must also follow specific stages . . . without stability and unity, nothing else matters.� This, too, has merit. One should never forget that while Western democracies lampoon China for limiting and dissuading freedom of expression, their governments continue to hunt down maverick expressionists such as Edward Snowden and Julian Assange. Besides, the French Revolution did not happen because people were tongue-tied but because they could not buy bread amid reckless spending by a corrupt monarchy. If the Communist Party has delivered economic gains to millions of its citizens, with solid plans to lift millions more out of poverty within the next few years, why should it allow its citizens revolt? “Do you live on democracy?� a young Chinese professional, Liu Yang, once asked American journalist, Evan Osnos, in the latter’s book ‘Age of Ambition’. “You eat bread, you drink coffee. All these are not brought by democracy. Indian guys have democracy, and some African countries have democracy, but they can’t feed their own people. Chinese people have begun to think, ‘one part is the good life, another part is democracy. If democracy can really give the good life, that’s good. But without democracy, if we can still have the good life, why should we choose democracy?� The importance of China I was raised on the political conviction that democracy is the ideal form of governance. I
still hold that as true. But democracy is built on certain assumptions: one, that people have the opportunity to receive similar quality of education and two, that they have the necessary mental stability and information to make reasonable choices. “Democracy cannot succeed unless those who express their choices are prepared to choose wisely,� former American President Franklin Delano Roosevelt once said. “The real safeguard of democracy, therefore, is education.� So, the question goes: why allow people vote, when they cannot be trusted to make reasonable decisions? The answer should be simple if there is an agreement on who or what decides what is a “reasonable decision�. Is the decision of millions of white Americans to vote Donald Trump reasonable because he speaks to them the sweet things they yearn to hear? And how sensible is Brexit, if the vast majority of those who voted for it were older, lower paid, less educated and less politically informed folks? There are, of course, no easy answers, but it is important to seriously evaluate the idea that ‘one man, one vote’ pushes society towards progress or simply an illusion, a kind of veil. This is why China is important. True, the country’s human rights record is not exactly appealing, its industrial aggression has and will create several environmental problems, it is one of the most economically unequal places on earth and public corruption remains a cancer. But these problems are not unique to it and do not overshadow the progress it has made within such a short time. More importantly, China has shown the world that “the Western Model is not the only way to modernise,� The ‘Global Times’, a Chinese nationalistic tabloid once wrote. “China has also demonstrated that the non-Western world does not necessarily follow the West’s footsteps.� This kind of ‘option’ is a good thing for modern politics, especially for struggling African democracies who are bent on copying Western democracies like for like without giving critical thought to the peculiarities of governance in their individual societies. If a Big Brother system can be used to light up the path towards paradise, then states must learn to rethink many of their assumptions about good and evil.
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L-R: Managing Director, Themis Energy, Marc Mandaba; Senior Director, Investments, Africa Finance Corporation (AFC), Taiwo Adeniji; CEO, Neo Themis, Tas Anvaripour; Chief Investment OďŹƒcer, AFC, Oliver Andrews; and Associate Vice President,AFC, Samson Vese,during the ceremony of 2017 Infrastructure Journal Global Awards Africa Power Deal won by AFC in London... recently.
L-R: Digital Manager, Guinness Nigeria Plc, Folahan Abudu; Head, Public Aairs, Women’s Development Centre, Abimbola Adeola; Commercial Finance Director, Guinness Nigeria, Olaitan Aremu; Sustainable Development and Alcohol in Society Manager, Guinness Nigeria, Titilola Alabi; and Corporate Communications Manager, Guinness Nigeria, Olayinka Edmond, during a knowledge sharing session at the Women’s Development Centre, Agege, Lagos organized by Guinness Nigeria...recently
L-R: Head, SME Solutions, AXA Mansard Insurance Plc, Okezie Akaniro; Divisional Director, Retail Solutions, AXA Mansard Insurance Plc, Rashidat Adebis; Executive Director, Business Aairs, Meadow Hall Group, Mr. Charles Imevbore; Chief Strategy & Marketing OďŹƒcer, AXA Mansard Insurance Plc, Mr. Kola Oni and, Head, Meadow Hall Foundation, Mrs. Kemi Adewoye during a courtesy visit by representatives from Meadow Hall Group to AXA Mansard Insurance oďŹƒce in Lagos...recently
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L-R; Ogun State Commissioner for Environment, Mr Bolaji Oyeleye, Commissioner for Commerce and Industry, Otunba Bimbo Ashiru and the Chairman Manufacturers Association of Nigeria, Ogun State Branch, Mr Wale Adegbite during the meeting of the Association and the State Government in Abeokuta...recently
L-R: Group Head, Communications and Lifestyle, Interswitch Industry Vertical Markets, Robinta Aluyi; Accountant-General of Lagos State, Abimbola Umar; Divisional Chief Executive OďŹƒcer, Interswitch Industry , Chinyere Don-Okhuofu and Group Head, Industry and Retail Chains, Interswitch Industry, Paul Ohakim at the ag-o demonstration of Electronic Payments and Collections for Lagos State....recently
L-R: Executive Director, Corporate Services, UAC Nigeria Plc., Mrs. Omolara Elemide; Wife of the Group CEO UAC of Nigeria Plc, Mrs. Aisha Bello; Group CEO, UAC of Nigeria Plc, Mr. Abdul Bello; Non-Executive Director, UAC of Nigeria Plc, Mrs. Awuneba Ajumogobia; Chief Finance OďŹƒcer, UAC of Nigeria Plc, Mrs. Adeniun Taiwo and Head, Human Resources, UAC of Nigeria Plc, Mrs. Osa Osowa, during the UAC of Nigeria Plc 2018 International Wqmens Day Celebration in Lagos...recently yomi akinyele
L-R: Nollywood Actor, Mohammed Saeed (aka Funky Mallam); Head Writer, Ekenem Mowah-Eboh; Executive Director, Akin Fadeyi Foundation, Akin Fadeyi; Programme Manager, AFF, Obialunanma Nnaobi; and Nollywood Actor, Greg Ojefua, during the script conference of Corruption Not In My Country drama campaign project sponsored by MacArthur Foundation in Lagos‌recently abiodun ajala
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Quick Takes Seven Energy Commits to Security Seven Energy has reaffirmed its commitment to implementing the Voluntary Principles on Security and Human Rights initiative (VPI) when it hosted the Steering Committee of the VPI at the Seven Energy Security Forum in Eket, Akwa Ibom State. The Seven Energy Security Forum is a monthly stakeholder engagement held in Akwa Ibom state to facilitate dialogue and flow of information between oil and gas companies and related government security agencies in Akwa Ibom State. The delegation from the VPI, led by the Chairman of the Global Steering Committee, Ronald Roosdorp, included representatives from the Netherlands, Switzerland, Ghana and the UK as well as from International and Nigerian companies and non-governmental organisations who are signatories to the VPI. The Voluntary Principles are the only human rights guidelines designed specifically for extractive sector companies, and provide guidance on risk assessment, public safety and security, protection of human rights and the interaction between companies and private security. Speaking at the Forum, the Managing Director in charge of Midstream, Seven Energy, Ian Brown-Peterside said the company was delighted to host the Voluntary Principles delegation.
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L-R: Lead researcher, Prof. Albert Olayemi; Chief Executive OďŹƒcer of CITA Petroleum Nigeria Limited, Dr. Thomas Ogungbangbe and his Chief Operating OďŹƒcer, Olasimbo Betiku, at the presentation of the report on the study of microbial contamination of aviation fuel and fuel handling system at CITA petroleum tank farms in Lagos ‌recently
Kachikwu: How PIGB Will Create Employment, Guarantee Job Security Chineme Okafor in Abuja The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has provided a detailed explanation of how the Petroleum Industry Governance Bill (PIGB) would create new job opportunities and guarantee job security when eventually passed into law. Speaking recently at a stakeholders’ dialogue on the PIGB organised in Abuja by the Nigeria Natural Resource Charter (NNRC) and Media Initiative on Transparency in Extractive Industries (MITEI), Kachikwu said through his Senior Technical Adviser on Upstream and Gas, Mr. Gbite
ENERGY Adeniji, that knotty aspects of labour issues that could come with the transition of the industry to a post PIGB era, have been taken care of in the bill. He stated that while no worker would be sacked or retrenched in any of the agencies that could be affected by the implementation of the PIGB, they would however be expected to improve their levels of efficiency given that boards of the companies would be given Key Performance Indicators (KPI) to meet in their pursuit of profitability and efficiency.
“Where they are gaps in the manpower in there, it provides an opportunity for people to be appointed from outside. Because again, you (will) want to put in new ideas, fresh legs in the whole process. In that process, you preserve the jobs, and you also attract a pathway for the employment of other skills from outside to help energise the new system you are trying to build. Then you now give power to the management to ensure they operate efficiently and effectively. After that, decisions can then be set correctly as to who would meet up with the requirements for their position,� said Kachikwu. He further stated: “Once the
ball gets rolling, the question would now be if I’m the manager at the helm of the institution, I would want to see who is effective and who is not. That is now the Key Performance Indicators (KPI) for the board and for the chief executive of the institution, to make sure he runs an effective institution. “At that time, it has not nothing to do with the minister, it is up to the management to retain their staff afterwards. You then have to make sure you actually meet up to task as far your job is concerned. That is how we dealt with the Continued on page 22
Depot Price of Petrol Slumps as NNPC Floods Market Ejiofor Alike Motorists and other petrol users may soon experience permanent relief as the ex-depot price of the product, which had hit N160 per litre, was gradually returning to normal at the weekend as the Nigerian National Petroleum Corporation (NNPC) floods the market with petrol, THISDAY’s investigation has revealed. THISDAY gathered that the availability of the product in the market was high as 18 depots had stock at the weekend, with most of them selling at N139 – N136.50 per litre.
ENERGY Also, all the six major oil marketers – Conoil, Forte Oil, Mobil Oil, Oando, MRS and Total also had stock of petrol, which they were loading out to only their branded filling stations. The major marketers sell at N145 per litre to their dealers at the depots and these dealers also sell at the same N145 at the filling stations. THISDAY gathered that the major oil marketing companies pay special margins to their dealers to encourage them to
sell at N145 at the pumps. The fuel supply situation has recorded a great improvement in recent days compared to the situation few weeks ago when only six – seven private depots had NNPC product, with most of them selling at N155 – 160 per litre. However, the current price range of N136.50 – N139 per litre is still above the N123.28 – N133.28 per litre official ex-depot price band recommended by Petroleum Products Pricing Regulatory Agency (PPPRA) on May 11, 2016 when the N145 pump price took effect.
The Group Managing Director of NNPC, Dr. Maikanti Baru, had promised a reward for petroleum products marketers who make life easy for Nigerians by sticking to N145 per litre approved pump price for petrol. Apart from the major oil marketers, the other 18 depots loading petrol in Lagos at the weekend include: AA Rano, Aiteo, Bovas, Chi-Pet, D.Jones, Fatgbems, First Royal, Folawiyo, Gulf Treasure, Wosbab, NIPCO, Heyden, MRS, Mao Oil, Africa Continued on page 22
Global Liquefied Natural Gas (LNG) prices eased last week as the market digested the impact of the earthquake in Papua New Guinea that in late February knocked out ExxonMobil’s export facility just as extreme cold in Europe spiked heating demand there. The sudden shortages triggered a rush for spot cargoes in the Pacific and Atlantic as utilities scrambled to meet short-term demand, pushing up prices earlier in March. Exxon’s outage in Papua New Guinea will last for weeks after the company declared force majeure last Friday on its exports and has to assess damage to the remote gas processing facility and over 700 km (435 miles) of pipeline to the LNG export terminal. A company declares a force majeure when it is unable to fulfil a contract because of forces beyond its control. While some buyers reportedly bought LNG spot cargoes at around $10 per million British thermal units (mmBtu) in the immediate wake of the Papua outage to meet shortterm demand, multiple traders this week said overall LNG market conditions were easing due to the onset of the low demand spring season across the Northern Hemisphere. Asia spot LNG prices LNG-AS were around $8.50 per mmBtu on Friday, down from $8.80 the previous week.
Gunvor to Sell Oil Storage Trading house, Gunvor is looking to sell a stake in more of its Rotterdam oil storage, two sources told Reuters, after offloading a chunk last year to a subsidiary of state oil giant Saudi Aramco. Gunvor acquired a significant amount of storage in Rotterdam, Europe’s deepest port and a hub for its oil trading, when it purchased the 88,000-barrels-per-day Rotterdam refinery from Kuwait Petroleum International in 2016. It sold its stake in crude oil storage at the Maasvlakte Olie Terminal late last year to Saudi Aramco Overseas Co. One source close to the negotiations and an oil trade source told Reuters that Gunvor is now looking to divest partially the 1.5 million cubic metres of oil storage it still holds at Stargate Oil Terminal Rotterdam B.V. That facility includes a mix of products including crude oil, liquefied petroleum gas, naphtha, gasoline, kerosene, gasoil, vacuum gasoil and fuel oil. A Gunvor spokesman declined to comment.
“Having a very good regulator is key, and is at the same time dangerous if it does not have competent people to manage it� Minister of State for Petroleum Resources, Dr. Ibe Kachikwu
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KACHIKWU: HOW PIGB WILL CREATE EMPLOYMENT, GUARANTEE JOB SECURITY
PENGASSAN Accuses Indigenous Oil Firms of Flouting Labour Laws
issue of labour,� he added. Kachikwu, buttressed the government’s position on ensuring that no worker in the agencies loses their jobs at the inception of the PIGB regime, stating that: “There are two steps to the labour process, is when you set up the institution and you shift people around and hire them into the institution, at that point, no one is losing any job.� “The other option is to say, “We do not need you, just go.� We do not want that to happen. After that, with the mandate that each institution would have for efficiency, people there have to work and display their performance in their jobs. But at the inception, the existing jobs would be there. But then people would have to rise up to the occasion, because those boards that would be in those entities would be mandated statutorily to ensure efficiency in the public interest.
Senior oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has stated that its face-off with indigenous oil companies was premised on their lack of respect for the laws of the land and constitutional provisions guiding their operations and relationship with their employees, especially as regards the rights and privileges of the workers. National Public Relations Officer (PRO) of the union, Comrade Fortune Obi said in a clarification sent to THISDAY that as an association of senior staff in the oil and gas industry, PENGASSAN’s clear mandate, which form the fulcrum of its objectives are “job security for its members, ensure a safe and healthy work environment, improve the terms and conditions of employment, and support and promote legislations in the interest of our members in particular and Nigeria in general.� According to him, the association cannot fold its arms when some organisations, especially the indigenous companies, who ought to be defending the Constitution of the country and protecting the rights of their fellow Nigerians, are flagrantly disobeying the laws and enslaving their fellow countrymen and women. “The real issue between our association and the indigenous
DEPOT PRICE OF PETROL SLUMPS AS NNPC FLOODS MARKET
Tanker, Techno Oil and Stallonire. Some marketers, who spoke to THISDAY at the weekend, attributed the improvement in supplies to the flooding of the market by the NNPC. “There is product everywhere now because more depots have stock, unlike before. NNPC is bringing more cargoes almost on daily basis. If you go to some filling stations, you will see some attendants on the roadside beckoning to motorists to come and buy fuel,� said one of the marketers. Apparently scandalised by the petrol scarcity, which marred Christmas celebration, NNPC has increased its efforts to boost importation, having assumed the sole importer since October 2017. THISDAY gathered that the corporation recently brought in the world’s largest petrol vessel, Suezmax vessel, a newly built Vitol-booked, 115,000-tonne Sea Icon. The Sea Icon, which arrived late February, sailed to West Africa from the Latvian port of Ventspils.
Group Business Editor
Chika Amanze-Nwachuku AgriBusiness/Industry Editor
Jonathan Eze
Comms/e-Business Editor
Emma Okonji
Capital Market Editor
Goddy Egene
Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Chineme Okafor (Energy) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (Cap Mkt)
Ejiofor Alike
operators is their hatred for unionism under any guise but not due to demand for excessive exit package as alleged in the news story. This phobia for unionism leads to immediate sack of workers who showed interest in the membership of the union,� Obi said. He alleged that the penchant for managements of indigenous oil companies, especially their directors’ craze for acquisition of wealth and exhibition of
it through the purchase and use of exotic cars and private jets while disregarding their employees’ welfare has been a bane in prudent management of such organizations. “The preference for cheap labour and slave work as well as blatant disregard to the rule of law, while flauntingtheir connection with the political classin total disregard of Section 40 of the 1999 Constitution of the Federal Republic of
Nigeria and Article 10 of the African Charter on Human and Peoples’Rights (Ratification and Enforcement) Act, ILO Conventions 89 and 98and even the OECD guidelines which address Freedom of Association,� he said. “Their disdain for the extant labour laws and other international treaties, particularly the ILO Treaties, to which Nigeria is a signatory and guarantee workers right to belong to any
union of their choice and right to Collective Bargaining,does not only hamper industrial harmony but also jeopardise the welfare of their employees, who incidentally are our members in the industry,� he added. He further stated that the Nigerian indigenous companies operating in the oil and gas industry have always run foul of respecting established global labour laws and in particular the laws of the country.
STOCK TAKING
L-R: The Permanent Secretary of Lagos State Ministry of Commerce, Industry & Cooperatives (MCIC), Fariudeen Abisoye Olalekan Akodu (representing the Commissioner); Acting Chairman, Lekki Port LFTZ Enterprise, Chief Joseph Sanusi and the Executive Director, Engineering & Technical Services, Nigerian Ports Authority, (NPA), Professor Idris Abubakar (representing the Managing Director of NPA), during the annual general meeting of Lekki Port LFTZ Enterprise shareholders which held in Lagos ....recently
NCDMB to Drag Violators of TEXEM, UK: Stadler to Speak on Strategies for Local Content Law to Court, Growth, Profitability and Excellent Service Delivery gies for Growth, Profitability If you are looking at developSays Wabote and Excellent Service Delivery.’ ing innovative human capital, Chineme Okafor in Abuja The Executive Secretary of Nigerian Content Development Management Board (NCDMB), Mr. Simbi Wabote has stated that the NDCMB would be stepping up its enforcement of the local content law among oil and gas operators in Nigeria, adding that it was moving from just notifying operators of their infractions of the law to actually taking legal action against them. Wabote stated this in his remarks when he was awarded the Juris Law Award by a former Chief Justice of Nigeria (CJN), Hon. Justice Alfa Belgore, for taking significant steps to promote the rule of law and economic growth in Nigeria through the local content law. The award was the maiden edition and instituted by the Prof. Niyi Ayoola-Daniels, who is the President of the International Institute for Petroleum, Energy Law and Policy (IIPELP), and a visiting professor of energy law and policy in the University of Port Harcourt. He said in a statement signed by AyoolaDaniels and sent to THISDAY in Abuja, that he was committed to ensuring that the rule of law was observed in the local content law of the oil industry, adding that henceforth, oil and gas companies who fail to comply with the provisions
of the law will be dragged before the law courts of the country. “NCDMB is changing gear from writing letters of noncompliance on infractions to actual prosecution of offenders who think they can trample on the law of the land on local content and get away with it,� said Wabote. In the statement, Wabote was also applauded for driving positive changes in Nigeria’s local content law for her oil and gas industry through the instrumentality of the law and institution of the judiciary to ensure compliance to the law by oil and gas companies. In a related development, the Nigerian National Petroleum Corporation (NNPC) has said it would support the federal government’s efforts to diversify Nigeria’s economy away from its overdependence on revenue from crude oil to other means like agriculture, commerce and industry. NNPC’s Group Managing Director, Dr. Maikanti Baru, reportedly said this at the just concluded 39th edition of the Kaduna International Trade Fair in Kaduna. Baru explained it was imperative to intensify and support the government’s economic diversification program to free the economy from the vagaries of oil price volatility, which he noted could spell doom for the country during periods of glut.
creating a culture of excellence, achieving sustainable first-class performance and securing a superlative competitive edge, These Executive Minds, TEXEM, UK can help accomplish all these and more. Join worldrenowned Prof Christian Stadler of Warwick Business School will be sharing insights on how you could stimulate organisational success, unlock sustainable corporate growth and achieve optimal value creation. His book, ‘Enduring Success. What We Can Learn from the History of Outstanding Corporations’, was listed as one of the world’s top 20 Management titles. Clients include: Shell, BP, Accenture, HSBC, AXA, IBM, and Standard Bank Group. His work has been published in Forbes, Harvard Business Review and CNN, BBC, Al Jazeera, New York Times, Wall Street Journal, Financial Times, and Bloomberg Business Week. Professor Christian Stadler said: “Watching Germany wipe out Brazil at the last Word Cup made one thing clear: well organised teams win even against those with the most celebrated stars. In business you are in a similar situation. You might be lucky once, but sustainable competitive advantage can only be developed if you ‘get organised’ – which means you develop a strategy. Christian Stadler, a strategy professor at the University of Warwick and author of award
Professor Christain Stadler winning ‘Enduring Success’ will show you how to beat expectations today and have an eye on the future, how you can fight bureaucracy and accelerate growth, and how develop principles that helped both big players and small start-ups to outsmart competitors. Among other insights, you will learn how to: -Master innovation and execution: Glaxo turned a me-too-product into the world’s best-selling drug. Fight bureaucracy – Keep things simple: cool things happened when Jack Abraham ignored eBay procedures. - Passion for the frontline: Frank Wang Tao, founder of world leading drone manufacturer DJI was obsessed by helicopters since elementary school. He still is. - Be a great boss – but not a charismatic one: Daimler was set for greatness but never made it thanks to Edzard Reuter. The event, scheduled for March 14th & 15th, 2018 will take place at Eko Hotel, Victoria Island, Lagos. Professor Christian Stadler will speak on the topic: ‘Strate-
The COST: ÂŁ1500 (N750, 000 and payment accepted in Naira. For Enquiries on the event, contact Nonso: 09060020525 and Dr. Alim Abubakre: +447983128450 or visit www. texem.co.uk. Participants at previous programmes organised by TEXEM have testified that the resource persons are high profile speakers with excellent pedigree and track record of professional achievements. . “The programme is “highly interactive and very practical. The resource persons are “high profile speakers with excellent pedigree and track record of professional achievements. Indeed, the event provided networking among participantsâ€?, said previous TEXEM delegate, Dayo Babatunde, Senior Partner, Ernst and Young, Nigeria. Managing Director A&J Construction Company Ltd, who was another TEXEM delegate, said: “The content of the program has been rich and educative, refreshing, enlightening and thought provoking. I enjoyed this programme and I am looking forward to another one.â€? On his part, Head of Administration, River State Internal Revenue Service, Chimenum Mpi said: “Today, we have learned a lot. I would recommend this course for people in government and in the private sector. We have been able to understand the importance of sustainability to strategy and performance.â€?
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Before the Power Sector Crumbles Power Generation Companies in Nigeria recently instituted legal action against the federal government, alleging unfair treatment against them, their investors and suppliers, while conferring preferential treatment on Azura Power West Africa Limited and Accugas Limited. Chika Amanze-Nwachuku and Chineme Okafor warn of the dire consequences of such unfair practices in the electricity sector The twin problem of liquidity and poor gas supply are the major challenges the electricity generation companies (Gencos) have been contending with since the power sector privation. The failure to pay the GENCOs their entitlement for electricity generated by them, which have since been consumed by electricity consumers in Nigeria has continued to have huge negative impact on the power generation companies such that their corporate existence has now come under severe threat. The Gencos put the total amount owed them for electricity they generated and supplied to about N800billion. Together with capacity and interest payments due to them, the Gencos are owed in excess of N1trillion. It was gathered that the huge indebtedness was sequel to the Nigeria Bulk Electricity Trading (NBET’s) consistent default in payment of all the electricity generated by the Gencos, an action that is in breach of its contractual obligation, which required that the Gencos be paid in fully (100%) not later than 45 days of invoice submission, and upon delay in payment be paid with interest at the agreed rate. Owing to the NBET’s failure to pay the Gencos, the power firms, in turn default in meeting their obligations to their lenders, O&M contractors, equipment manufacturers, Service providers and other persons and entities engaged by them for the purpose of ensuring the smooth and effectual generation of power in all power plants owned, controlled and/or managed by the Gencos. To address the huge indebtedness, the FG in conjunction with the Ministry of Power, Works and Housing, NBET, Central Bank of Nigeria (CBN) and the Gencos created as a temporary relief, i.e. the N701billion Payment Assurance Facility under which the Gencos were to be paid for all electricity generated and supplied from January 2017 to December 2018. The process of working out of the facility and the presentation of same to the electricity generating companies clearly indicated that the N701billion facility was meant to pay existing Gencos as at the time the facility was put in place, as the target beneficiaries. But the companies said that government has not kept faith with payments from the N701billion facility as payment timelines are not clear, regular or consistent. According to the power firms, only 80per cent of invoiced amounts are paid whenever the FG chooses to pay, with 90% of gas suppliers invoices paid directly to gas suppliers out of the said 80% payment. They said: “Whatever is left of any payment tranche is hardly sufficient for any meaningful activities of the GENCOs. Not only that the payments are insufficient, the outstanding payments owed the GENCOs before the introduction of the N701bn facility and the monthly shortfall payment of 20% of invoices, have continued to pile up without any clear sight of how these will be paid to the GENCOs.� The Gencos further stated that while they appreciate the introduction of the N701billion facility, it is not a privilege and neither is it a favour to them as they are entitled to full payment for electricity generated by them at their respective costs and supplied to the national grid. The power companies said they relied on the payment assurance representations made by the federal government to alter their positions to their own detriment by entering into contractual obligations to ensure recovery of additional plants capacities and effective operation of the plants. They noted that while they were getting very close to a point where their plants might not be able to generate power again and be shut down, “the federal government deliberately and clearly entered into certain engagements with Azura and Accugas, under which both firms were given the preferential treatment of having a World Bank Partial Risk Guarantee
Geregu Power Station supported by the Sovereign Guarantee of the FG securing all payments due from NBET to Azura for power generated by the new Independent Power Plant and to Accugas for gas supplied to the Calabar NIPP.� Decision to approach the court The unfair treatment prompted the Gencos to institute a legal action against the Federal Government of Nigeria for deliberately meting out discriminatory treatment to them and their gas suppliers with intent to harm their business interests, while conferring preferential treatment on Azura Power West Africa Limited
In the suit, the Gencos alleged that by conferring preferential treatments on Azura Power and Accugas Limited, the government was deliberately meting out discriminatory treatment to them and their gas suppliers with the intent to harm their business interests and run them out of operations
and Accugas Limited to the detriment of the power sector. The suit brought before a Federal High Court, Abuja has the Gencos represented by Mainstream Energy Solutions Limited, Transcorp Power Limited, Egbin Power Plc and Northsouth Power Company Limited, who are all Plaintiffs in the suit. Cited as defendants in the suit are FGN, the CBN, Minister of Power, Works & Housing, the NBET, Azura Power West Africa Limited and Accugas Limited. In the suit, the Gencos alleged that by conferring preferential treatments on Azura Power and Accugas Limited, the government was deliberately meting out discriminatory treatment to them and their gas suppliers with the intent to harm their business interests and run them out of operations. According to firms, such preferential treatment is also detrimental to the country’s electricity market. The power firms said the government and its agents, “have treated and intends to continue treating them�, their investors and gas suppliers unfairly and in a discriminatory manner notwithstanding the fact that they have been bending backwards to continue to generate electricity for the national grid. They claimed that they have been making huge sacrifices, bearing the excruciating burden of not being paid for electricity generated and sold to NBET, and are facing the threat of going into extinction as a result of their huge indebtedness to banks and financiers, who provided them the foreign currency-denominated acquisition loans with which they acquired the plants in 2013 from the government through its privatisation exercise; yet the government thinks so ill of them. The Gencos further averred that whereas the government did not give them such risk guarantees when they acquired the power assets during the privatisation exercise, and at the time, the risk was so enormous, they were piqued the government agreed to give same to Azura and Accugas, in addition to their payments being treated as a first line charge. This, they stated was a discriminatory treatment to them, hence their legal action against the government and parties involved. The Gencos further stated that the government had concluded to immediately pay Azura and Accugas for their first invoices totaling $8.140 million from the N701 billion facility, which in their minds was meant for them alone. The Gencos’ contention was that the facility
which was not enough to meet the full payments of their invoices would now be used by the government to pay Azura and Accugas. In addition to their worries of the N701 billion being depleted through payments to Azura and Accugas, the Gencos also said they were troubled that “the government’s discrimination against them was being supported by the World Bank�, which they claimed, has interest in one of the companies. Notwithstanding their legal action, the Gencos however indicated their willingness to engage the government in a dialogue to address their challenges and complaints. They noted that they had prior to instituting the suit, made frantic efforts to draw the attention of the government to the implications of the one-sided preferential treatment to the duo of Azura and Accugas in the sector. The plaintiff companies said they had witten an official memo to the Minister of Power, Works and Housing, Mr. Babatunde Fashola, on February 13, 2018, and had also sent a copy to the Managing Director of the NBET, Dr. Marilyn Amobi, in which they claimed they were operating under sets of rules that were different from what applied to Azura and Accugas in the power sector, and that it was unfair to them. They equally stated that they were in a dire situation, and if the government failed to address their complaints, it would inevitably affect their capacities to continue to generate electricity. They are therefore demanding that the government pay them all outstanding indebtedness and interests due to them for electricity supplied and ancillary services they provided; pay 100 per cent and not 80 per cent of all invoices to be submitted by them in N701 billion facility, as well as pay all sums due to them as capacity charge from 2013 till date. The GENCOs also want the court to stop the government from admitting any new beneficiary into the N701 billion facility without increasing it correspondingly; pay the balance of N213 billion to them from the CBN Electricity Market Stabilisation Fund; and remove all administrative bottlenecks delaying drawdown of payment assurance funds, in addition to providing sovereign and partial risk guarantees for all payment obligations to them. Meanwhile, the presiding judge, Justice Binta Nyako has fixed April 16 2018 for hearing of the Gencos application for interim injunction.
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Lessons from UK Court’s Judgment on N’Delta Oil Spills The recent judgment by the UK Appeal Court on the dispute between Shell and two Niger Delta communities underscores the need for people of the environmentally-polluted region to seek redress in disputes that do not require international arbitration within Nigeria’s judicial system, writes Ejiofor Alike Some communities in the Niger Delta and other interest groups in the region have expressed frustration with the recent judgment of the Court of Appeal in London, which ruled that two Nigerian communities cannot pursue Royal Dutch Shell in English courts over oil spills in Nigeria’s Delta region. The court delivered the landmark judgment, which was, however, described in some circles as a revalidation of Nigeria’s undisputed sovereignty. In May 2015, UK solicitors, Leigh Day, brought oil spill claims in a UK court against the Shell Petroleum Development Company (SPDC) on behalf of the Ogale and Bille communities in Rivers State. The communities also sued Royal Dutch Shell (RDS) as an “anchor defendant� to bring the claims in England. RDS and SPDC contested the jurisdiction of the English court over these claims and, in a judgment handed down on January 26, 2017, the court dismissed the claims against both RDS and SPDC in England. Leigh Day argued that SPDC owes a duty of care to Nigerian communities impacted by massive crude theft and the resultant pollution, and that RDS owes a similar direct duty of care to prevent oil spilled as a result of intentional third-party interference from damaging Niger Delta communities. SPDC and RDS responded that an English court has no jurisdiction over these claims. Rather, claims by Nigerians against a Nigerian company about events in Nigeria, governed by Nigerian law, should be heard in a Nigerian court. The judge rejected Leigh Day’s claim that RDS owed a duty of care to the Nigerian claimants allegedly impacted by SPDC, and consequently there is no anchor defendant for the case against SPDC to be brought in England. Leigh Day appealed the decision and the appeal hearing took place November 21-23, 2017. On February 14, 2018, the Court of Appeal handed down its judgment, dismissing the appeal. Indeed, Bille and Ogale are areas heavily impacted by crude oil theft, pipeline sabotage, and illegal refining, which remain the main sources of pollution across the Niger Delta. Ogale is in Ogoni land, where SPDC has produced no oil or gas since 1993, as access to the area has been limited following a rise in violence, threats to staff and attacks on facilities. Court verdict The High Court ruled that RDS had no legal responsibility for harm to the communities in the Niger Delta caused by criminal interference with the operations of a joint venture in which the Nigerian government owns a majority interest. Ruling on Royal Dutch Shell duty of care, the High Court judgment concluded: that “there is simply no connection whatsoever between this jurisdiction and the claims brought by the claimants, who are Nigerian citizens, for breaches of statutory duty and/or in common law for acts and omissions in Nigeria, by a Nigeria company.� “RDS is not operating the same business as SPDC. RDS is the ultimate holding company, and does not operate any business other than holding shares, and dealing with the financial matters that affect it as the ultimate holding company,� the court added. On Leigh Day’s allegations about RDS control over SPDC’s operations, the court ruled that “the evidence on the part of the claimants that is relied upon to found a claim against RDS (rather than SPDC) is extremely thin, bordering on sketchy, and in a great many instances simply not evidence at all.� On February 14, the court of appeal dismissed the claimants’ appeals and affirmed the lower court’s decision that the claims against RDS were bound to fail and should be dismissed. This means that SPDC does not come into the
Shell Global CEO, Ben Van Beurden jurisdiction of the English court, so the case against both RDS and SPDC should not proceed in England. Shell’s position Responding to the Appeal Court ruling, the General Manager, External Relations for The Shell Petroleum Development Company of Nigeria Limited (SPDC), Igo Weli, said the Court of Appeal was right to have upheld the earlier decision that the case should not proceed in the English courts. “Nigeria has a well-developed justice system that is capable of dealing with these claims. Both Bille and Ogale are areas heavily impacted by crude oil theft, pipeline sabotage and illegal refining, which remain the main sources of pollution across the Niger Delta. Litigation in courts unfamiliar with the law and realities on the ground ultimately does nothing to address the issue of criminal interference in the operations of Nigerian company. SPDC works with a range of stakeholders, supporting the industry’s search for solutions to these complex issues,� Weli explained. From Shell’s response, it is evident that SPDC and the parent company are not contesting the rights of Nigerian communities to seek justice in a court of law. However, their argument is that Nigerian courts are fully capable of hearing any case brought by Nigerians about a Nigerian company in respect of events in Nigeria. Bille- Ogale vs Bodo There has been an attempt to draw parallels between the Bille-Ogale suit and the settlement of a similar case between SPDC and Bodo. Two oil spills took place in 2008 on the Bomu-Bonny Pipeline in Bodo. Unlike Bille and Ogale spills, which Shell blamed on criminal sabotage, the company had admitted that the two spills were caused by operational failure of the pipelines, and accepted responsibility as soon as the independent Joint Investigation Team determined the cause. As in all cases of operational spills, Shell also acknowledged responsibility to pay appropriate compensation as required by the provisions of the Nigerian Oil Pipelines Act. In addition to the payment of compensation, THISDAY gathered that the clean-up of the
MD, SPDC, Osagie Okunbor 2008 operational spills at Bodo restarted in September 2017, with the re-mobilisation of the two international contractors utilising the 400 youths trained for the exercise. But in the case of Bille-Ogale, Shell argued that Leigh Day did not disclose the identity of their clients and also did not provide any details as to which individual spills are alleged to have caused the environmental degradation or impacted their clients. Shell’s argument is that while it will clean up and remediate areas impacted by spills from its facilities regardless of cause, it is not liable to pay compensation for damage caused by oil thieves and illegal third party activities. Shell’s position is that criminal activity of this kind is all too prevalent in places like Bille and Ogale. Accessing justice in Nigeria The implication of the UK appeal court ruling is that any compensation actions by the two Nigerian communities affected by oil spills would have to be heard in Nigeria. However, the two communities believe they can only get “justice� in the UK over what their lawyers have described as “extensive environmental damage caused by oil pollution�. After the High Court ruling in January last year, the traditional ruler of Ogale community, His Royal Highness Emere Godwin BebeOkpabi, was quoted as saying that there is no hope of justice in the Nigerian courts.� Some oil industry operators have described this argument as rather strange because the Nigerian courts have delivered some landmark judgments against the international oil companies (IOCs) in several disputes with the oil producing communities and awarded the communities billions of Naira as compensation for oil spills. The Nigerian courts are in a better position to address any issue of criminality arising from the operations of any foreign company operating in Nigeria unless in cases where the contractual agreements provide for international arbitration. Despite all the misgivings about Nigeria’s justice system, the country’s justice system is still capable of dealing with these claims in line with Nigeria’s status as a sovereign nation. Some industry operators have also argued that dragging Shell to UK courts or Chevron
and ExxonMobil to the United States’ courts for offences they allegedly committed in Nigeria is akin to dragging MTN to South African courts or Dana Air to Indian courts. “If that is the case, the Indian courts would have been flooded with litigations from the Nigerian relatives of the victims of the 2012 Dana Air crash,� one of the operators told THISDAY on condition of anonymity. “This could have questioned Nigeria’s status as a sovereign nation and also serve as a clear vote of no confidence on the Nigerian judicial system,� he added. It has also been argued that if Nigerians are given free hands to seek redress in the advanced countries for offences committed by the multinationals in Nigeria, it means that poor communities and individuals who do not have the financial capacity to pay for legal fees in dollars, euro and pounds cannot access justice against the oil giants. Tackling crude theft/oil spills To minimise litigations, SPDC should continue to sustain its present efforts to prevent and minimise spills caused by theft and sabotage of its facilities in the Niger Delta. In 2016, it is on record that the company sustained on-ground surveillance efforts on its areas of operations, including its pipeline network, to mitigate incidences of third-party interference and ensure that spills are detected and responded to as quickly as possible. It has also successfully carried out daily over-flights of the pipeline network areas to identify any new spill incidents or activities. The company had also announced that it installed state-of-the-art high definition camera to a specialised helicopter that greatly improves the surveillance of its assets and have implemented anti-theft protection mechanisms on key infrastructure. The industry practice has always been that when a leak is identified, production is suspended and efforts made to contain any spilled oil. All these remediation practices should be sustained in line with the Environmental Guidelines and Standards for the Petroleum Industry in Nigeria (EGASPIN), Revised Edition 2002 as well as other relevant international standards.
A
WEEKLY PULL-OUT
LAGOS LAND USE CHARGE LAW: LEGAL OR ILLEGAL?
13.03.2018
Lagos State Governor, Akinwunmi Ambode
2/DASHBOARD
13.03.2018
Jurisdiction of Court to Determine Suit where the Statement of Claim is Defective or Incompetent PAGE 4
Osinbajo, CJN, Saraki to Grace NBA Criminal Justice Summit PAGE 5
Court Rules Nurses and Midwives Association is Subject to Lagos Health Laws PAGE 5
NBA Lagos Celebrates Veteran Activist, Pa Gomez at 90 PAGE 6
QUOTABLES ‘The language of interaction, the language of exchange, must be civil. We must not permit a situation where people talk anyhow. Whether they are leaders or elders, we must not tolerate a situation, where people are allowed to speak in any manner that they desire.’ – Professor Yemi Osinbajo, GCON, SAN, Vice President, Federal Republic of Nigeria
‘I am not ashamed to say, and I am extremely proud to say, that I am associated with a Commission and a Government that has recovered the most; than any regime since 1960....There’s no Government in the history of Nigeria, that has made this type of effort, to recover looted funds from those who stole what belongs to all of us.’ – Festus Keyamo, SAN
‘Law Practice is About Solving People’s Problems’ PAGE 6
Open Letter to President Muhammadu Buhari PAGE 7
ONIKEPO BRAITHWAITE EDITOR JUDE IGBANOI DEPUTY EDITOR AKINWALE AKINTUNDE REPORTER TUNDE BUSARI GROUP HEAD OCHI OGBUAKU II ART DIRECTOR
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Is the Hate Speech Bill Necessary?
W
Extant Laws
hat really is the essence of the new “Hate Speech Bill”? It seems like a ridiculous, authoritarian, Draconian attempt to cow Nigerians into complacency and submission, with the threat of the death penalty; somewhat like a “Gag Order” that the Legislature is trying to place on us, especially now that the elections are upon us! Yes, while the origins of hate speech laws in the United States of America for example, may have been to prevent people from making utterances which incited people to racism and racial hatred and violence, in countries like the Soviet Union, hate speech laws were used to limit the freedom of speech, especially against their communist totalitarian governments. Why do many Nigerians believe that, unlike the Americans, there is nothing altruistic about Nigeria’s new Hate Speech Bill, and see it more as another tool of repression? Maybe because, progressively, Government has continued to show its aversion to criticism. This new Bill is unconstitutional, as it violates our fundamental rights to freedom of thought, expression and association, as enshrined in Sections 38, 39 and 40 of the 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution). Of course, there has always been the debate as to what extent freedom of speech should tolerate intolerance! That is, how much nonsense one can spout in the name of freedom of speech. The limits of our constitutional right to freedom of expression, have been taken care of by extant statutes. Our laws already have ample provisions for so-called seditious or hate inciting speech. The provisions of Section 50(2) (a)-(d) of the Criminal Code Act 1995 (CCA) clearly define seditious intention to include bringing ‘hatred, disaffection or contempt’ against the President or a Governor or the Government of the Federation, to raise disaffection amongst the citizens and so on. Section 51(1)(d) of the CCA provides for terms of imprisonment and/or fines for offenders. Section 417 of the Penal Code (Northern States) Federal Provision Act 1960 (PC) provides that “whoever seeks to excite hatred or contempt against any class of persons in such a way as to endanger public peace
Senator Sabi Abdullahi
shall be punished with imprisonment for a term which may extend to three years or with fine or with both”. Sections 24(2) and 26 of the Cybercrimes (Prohibition, Prevention, Etc) Act 2015 are also available to cover offences like dissemination of hate speech via the computer system, and provide for stiffer penalties of up to 10 years imprisonment and/or N25 million fines, while there are also existing laws relating to slander, libel, defamation etc. Wrong Definition of Hate Speech In a world where many countries are trying to move away from the death penalty, in 2018, the Nigerian Legislature is attempting to impose it for a crime which it cannot even properly define! What amounts to the so-called hate speech in the new Bill? In a Channels television interview last week, the Senate Spokesman and Sponsor of the Hate Speech Bill, Senator Aliyu Sabi Abdullahi, APC Senator representing Niger North Senatorial District, Niger State, defined hate speech as “that speech somebody made in public, which is targeted at an identified group, and as a result of that, leads to violence or other disorder as a result, and I know the issue of concern about to die by hanging......It is very clear that when you are found beyond reasonable doubt to have said something, which as a result leads to somebody’s death because violence is unleashed, that is where we are talking about....”. With all due respect, that is not the definition of hate speech! What is Hate Speech? It is easy to google hate speech and obtain the definition of the term. For example, Wikipedia defines hate speech as “speech which attacks a person or group on the basis of attributes such as race, religion, ethnic origin, sexual orientation, disability, or gender”. Black’s Law Dictionary (10th edition) defines hate speech as “Speech that carries no meaning other than the expression of hatred for some group, such as a particular race, especially in circumstances in which the communication is likely to provoke violence”. Though the definitions of hate speech may vary from country to country, there are common parameters that run between their definitions; these parameters have not been set in this new Bill, and so far, I have not found any country that has imposed
the death sentence for hate speech. What Senator Abdullahi has sought to do, at least going by his definition, is to alter the definition of hate speech, by somehow generalising it. “That speech” is any speech. But in reality, to qualify as hate speech, the utterances not only have to be inciting, they must be a somewhat senseless and unjustified attack on a group of persons, like inciting people to kill homosexuals or all Herdsmen. The fact that Herdsmen have been involved in killings in various parts of the country, certainly does not make them all murderers. When some young men, members of some Arewa Youth Consultative Groups on June 5, 2017 made the ‘Kaduna Declaration’, giving the Igbos the October 1 deadline to quit the Northern part of Nigeria, this declaration could be said to have qualified as hate speech going by the accepted definition of the term, because it was an attack on Nigerians of Igbo extraction based on their ethnicity, attempting to stifle their fundamental right to freedom of movement as provided by Section 41 of the Constitution, with threats of consequences which would likely have led to violence, if they did not comply. Hate Speech is Not.... Hate Speech is not about Government seeking to protect itself from the utterances of citizens. It seems that the various organs of Government, like the Legislature, are employing all sorts of tactics to protect themselves against numerous calls for accountability from the citizenry, and curbing criticism, seems to be the object of the new Hate Speech Bill. This is a disturbing trend. Constructive criticism against the various arms of Government for whatever the citizenry perceives to be mishandling of issues, is not hate speech. It was not hate speech against the President, when the “ourmumudondo” Group called for him to Resume or Resign. Nor was it, when the BBOG Campaigners had their last outing which resulted in their ‘arrest’ by the Police. The groups were simply exercising their fundamental rights to freedom of expression and association. Legitimate Grievances For instance, the same way people complained about the Jonathan Administration being tribalistic, leaving the South West and North out of the juicy Government appointments, is the same way that people are now complaining that this Administration has favoured the North with those juicy appointments. They have used the recent appointments in the NNPC and that of the security chiefs/heads of law enforcement agencies, as examples to buttress their position. The question is, is this allegation a fact, that all the heads of the law enforcement agencies save one or two, are from the North? The answer is Yes. The next question is, are those appointments constitutional, having regard to the constitutional provisions in respect of federal character? The answer is No. Can these facts then be referred to as hate speech against the Government? I do not think so, but the Hate Speech Bill does not seem to be clear on this, as it has failed to define what specifically constitutes hate speech. There was a huge outcry against those appointments in the South. If people decide to march to Tafawa Balewa Square to protest against those appointments, and those in favour of the appointments attend the demonstration to express their solidarity with Government, a fight ensues and somebody dies in the course of the violence, will the people who have come to ventilate their legitimate grievances against Government’s unconstitutional
ONIKEPO BRAITHWAITE
THE ADVOCATE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com
“WHY DO MANY NIGERIANS BELIEVE THAT, UNLIKE THE AMERICANS, THERE IS NOTHING ALTRUISTIC ABOUT NIGERIA’S NEW HATE SPEECH BILL, AND SEE IT MORE AS ANOTHER TOOL OF REPRESSION? MAYBE BECAUSE, PROGRESSIVELY, GOVERNMENT HAS CONTINUED TO SHOW ITS AVERSION TO CRITICISM”
appointments, be hung because their outing turned violent and somebody died? Using Senator Abdullahi’s definition - a public statement has been made, it was targeted against Government, violence and death occurred. A Legal Practitioner, Daniel Bwala, commented that if Charles Okah could be given life imprisonment for his role in a bomb blast which claimed several lives, how then, can the death sentence be imposed for “hate speech”? I concur. I do agree that some of these religious bigots and extremists that specialise in preaching hate and inciting people to murder and violence, like Boko Haram and the like, need to be dealt with decisively. But there are ample laws available to accommodate them, if people die as a result of their actions - Murder, Conspiracy to Commit Murder, Manslaughter (Voluntary and Involuntary), Assault with intent to cause grievous bodily harm, to mention but a few. The CCA and PC, are awash with offences and punishments for such people. Enacting this new Bill is unnecessary. It can also be subject to so much abuse. It would be better for the National Assembly to take action on the various Bills which have been lying idle waiting to be addressed, like the PIB, and the much needed Police Act Amendment Bill which has been lying in NASS since 2000, than wasting precious time on needless peripheral Bills. In any event, Nigeria’s problem is not really lack of adequate laws, but lack of effective enforcement of laws.
4/LAW REPORT
13.03.2018
Jurisdiction of Court to Determine Suit where the Statement of Claim is Defective or Incompetent
A Facts
certain Mr. R. Simonet was the Managing Director of Teko Fishing Industries Ltd (TFIL), which company maintained its corporate account with the Appellant (erstwhile Societe Generale Bank (Nigeria) Limited). Mr. Simonet also maintained his personal deposit account with the Appellant, and both accounts were domiciled in the Appellant’s Lagos branch. The mandate form in respect of the TFIL’s current account, had three signatories and Mr. Simonet was one of them. A clause in the form provided that a chose-in-action to be negotiated, must be signed by at least two of the authorised signatories. The Respondent who was a customer of TFIL, bought a draft from Wema Bank in the sum of N1,000,000.00. The cheque/bank draft (Exhibit 1) bought for payment to TFIL, was crossed and marked NOT NEGOTIABLE. The cheque, which was given to Mr. Simonet as the Managing Director of TFIL, was intercepted by him and paid into his personal account with the Appellant though the cheque was clearly endorsed as NOT NEGOTIABLE. The Appellant gave value to the cheque, and the money was paid into Mr. Simonet’s private account instead of TFIL’s account which was the payee ex- facie. The Respondent consequently, took out an action against the Appellant at the High Court of Lagos State, and got judgement thereat. The appeal filed by the Appellant to the Court of Appeal, was dismissed; the Appellant then appealed to the Supreme Court. Issues for Determination 1. Whether the Respondent established any damage whatsoever suffered by it from the alleged negligent mishandling of or conversion of the cheque, Exhibit 1, by the Appellant. 2. Whether the Respondent could in the circumstances successfully maintain an action against the Appellant for Tort of Conversion. 3. Whether the Court of Appeal had jurisdiction to entertain the Respondent’s action, as the action is incompetent. The Supreme Court opined that Issue No. 3, which challenged the jurisdiction of the Courts below, ought to be considered and determined first before delving into other issues. Arguments Counsel for the Appellant, argued that the Statement of Claim filed by the Respondent, settled by BEATRICE FISHER & CO., a person whose name is not on the roll of Legal Practitioners registered in the Supreme Court and licensed to practice law in Nigeria, was defective and incompetent. He submitted further, that the defective process robbed the trial Court and the Court of Appeal of their requisite jurisdiction in the matter. Reliance was placed, on various decisions of the Supreme Court in this regard, including OKAFOR v NWEKE (2007) 10 NWLR (PT. 1043) 521 AT 531; BRAITHWAITE v SKYE BANK PLC (2013) 5 NWLR (PT. 1346) 1. The Respondent on its part, merely submitted in response to the argument of the Appellant on the point, that the defective process was settled and filed in 1990, before the celebrated case of OKAFOR v NWEKE being relied on by the Appellant, which decision was in 2007. On the first issue, it was submitted for the Appellant, that the act of the Bank as the Defendant at the trial Court, which caused harm to the Respondent as the Plaintiff, must be proved in addition to the Plaintiff (Respondent) establishing the actual pecuniary loss suffered by it, as a result of the harm occasioned by the Defendant’s (Appellant’s) act. The question posed by the Appellant is – What did the Respondent as the Plaintiff, lose as a result of the negligent act of the Appellant Bank, as the Defendant? On the second issue relating to the viability of the Respondent as the Plaintiff maintaining an action against the Appellant Bank in Tort of Conversion, Counsel for the Appellant argued that the Respondent was neither the owner nor the drawer of the cheque in issue – Exhibit 1 – as same was issued by the Respondent’s Banker (Wema Bank Plc). Court’s Judgement and Rationale Deciding the issue of jurisdiction of the Courts
Hon. Ejembi Eko, JSC
In the Supreme Court of Nigeria Holden at Abuja On Friday, the 23rd Day of February, 2018 Before Their Lordships Olabode Rhodes-Vivour Mary Ukaego Peter-Odili Clara Bata Ogunbiyi Amiru Sanusi Ejembi Eko Justices, Supreme Court SC.175/2005 Between Heritage Bank Limited .........Appellant And Bentworth Finance (Nigeria) Limited ......Respondent (Lead Judgement delivered by Hon. Ejembi Eko, JSC)
“WHETHER AN IRREGULARITY RENDERS THE PROCESS VOID OR MERELY VOIDABLE DEPENDS ON THE IRREGULARITY. IN BRAITHWAITE V SKYE BANK PLC (2013) 5 NWLR (PT. 1346) 1, THE APEX COURT HELD THAT IRREGULARITY AFFECTING AN ORIGINATING PROCESS, IS A FUNDAMENTAL IRREGULARITY WHICH GOES TO THE ROOTS. THE STATEMENT OF CLAIM HOWEVER, DOES NOT QUALIFY AS AN ORIGINATING PROCESS”
below, the Supreme Court reckoned that it is a threshold issue; being a live wire of any proceedings, it can be raised at any stage of the proceedings. The Court went ahead to distinguish between substantive jurisdiction and procedural jurisdiction vis-à- vis an originating process and a Statement of Claim. Succinct distinction was made between defect in procedure, which is regarded as a mere irregularity and defect in competence or jurisdiction which cannot be waived. Whether an irregularity renders the process void or merely voidable depends on the irregularity. In BRAITHWAITE v SKYE BANK (SUPRA), the apex Court held that irregularity affecting an originating process is a fundamental irregularity which goes to the roots. The Statement of Claim however, does not qualify as an originating process. On the other hand, the jurisdictional defect which renders the adjudication incompetent, ultra-vires, null and void, is the substantive jurisdiction because such jurisdiction is extrinsic to the adjudication. MADUKOLU v NKEMDILIM (1962) 2 SCNLR 341. Where the issue merely turns on whether a process filed in the course of the proceeding is an irregular process, having not been issued or filed in accordance with the prescribed practice, the issue raised is whether the process can be countenanced, and not whether the Court can ordinarily and competently assume jurisdiction to adjudicate in the matter. The key distinction here, lies in the fact that procedural jurisdiction can be waived, while substantive jurisdiction cannot be waived. A-G, KWARA STATE & ANOR. v ALHAJI SAKA ADEYEMO & ORS. (2016) 7 SC (PT. II) 149. In this case, the Appellant as Defendant at the trial Court, condoned the defective process by participating in the proceedings. Evidence arising from the Statement of Claim was called after the Statement of Defence, joining issues with the Respondent on the defective Statement of Claim filed. The trial Court delivered judgement, based on the evidence elicited from the Statement of Claim filed without an objection from the Appellant. The Appellant also failed to raise this issue at the Court of Appeal. The right of the Appellant as the Defendant to object to the irregularity patent on the Statement of Claim is waivable, being a private right. The Appellant having condoned the defective Statement of Claim, cannot turn around to object to this defective process. On the first and second issues as posed by the Appellant which the Court considered together, it was observed that the sum of N1,000,000.00, the value of the bank draft, until it was paid over, cashed or credited to the account of TFIL could be re-purchased by the Respondent, the drawer. It cannot be heard of the Appellant, that by allowing Mr. Simonet to hijack the bank draft and divert the cash value of the draft to his name, the Respondent who bought and issued the bank draft for a definite purpose, has not suffered any pecuniary damage or loss. In the decision of the Court below, it was held that based on the provisions of the law, Bankers who collect cheques and pay to those not entitled to the proceeds of the cheques, are liable for the Tort of Conversion. KLEINWORT v COMPTOIR NATIONAL D’ESCOMPTE-DE- PARIS (1984) 2 QR 167. The Appellant did not appeal against this holding of the Court of Appeal; hence, the holding remains binding and conclusive between the parties. More so, though the Respondent was neither the owner nor the drawer of the cheque, it is not in dispute that the Respondent’s Banker – Wema Bank Plc – issued the Banker’s cheque at the instance of the Respondent. The foregoing was the concurrent finding of the Courts below, which is reasonable and not perverse. It follows that, the issue as to whether the Respondent could have validly maintained an action against the Appellant for the Tort of Conversion, is in the affirmative. The Respondent, indeed, had the locus standi to proceed against the Appellant, as it did. Appeal Dismissed. Representation Alex Ejesieme Esq. with Melvin Oputa Esq. and U. Obiedelu, Esq. for the Appellant. Modupe Longe Esq. for the Respondent. Reported by Optimum Publishers Limited (Publishers of the Nigerian Monthly Law Reports (NMLR))
13.03.2018
NEWS/5
Court Rules Nurses and Midwives Association is Subject to Lagos Health Laws Akinwale Akintunde
CONSUMPTION TAX LAW L-R: Special Adviser to the Lagos State Governor on Taxation & Revenue, Mr. Fatai Lasisi, Commissioner for Economic Planning and Budget, Mr. Olusegun Banjo, Chairman, Lagos State Internal Revenue Service (LIRS), Mr. Ayodele Subair and Lagos State Deputy Governor, representing her boss, Dr. Oluranti Adebule during a stakeholders' meeting on Fiscalisation of the Hotel Occupancy and Restaurant Consumption Tax Law, at Lagos House, Ikeja, recently Photo: Kola Olasupo
Osinbajo, CJN, Saraki to Grace NBA Criminal Justice Summit Nigeria’s Vice President, Prof. Yemi Osinbajo, GCON, SAN is expected to deliver the keynote address at the forthcoming Nigerian Bar Association Criminal Justice Reform Conference. Prof. Osinbajo will speak on the conference theme titled “Criminal justice in Nigeria: The journey so far”. Scheduled to hold at the Asaba Convention Centre, Delta State between April 25 and 26, 2018, the Conference is designed to fashion a definitive roadmap for Nigeria’s troubled criminal justice sector. Aside from goodwill messages from the Chief Justice of Nigeria, Hon. Justice Walter Onnoghen; Senate President, Dr. Bukola Saraki and House of Representatives Speaker, Mr. Yakubu Dogara, the opening ceremony will also witness speeches by Delta State Governor, Dr. Ifeanyi Okowa and Delta State Chief Judge, Hon. Justice Marshal Umukoro. This will however, be preceded by a welcome address by NBA President, Mr. Abubakar Mahmoud,
SAN and a speech by the NBA Criminal Justice Reform Committee Chairman, Chief Arthur Obi-Okafor, SAN. According to a statement by the Head of Publicity Sub- Committee, Mr. Emeka Nwadioke, the plenary session on “Unlocking the Innovations of Criminal Justice Legislation”, will herald the technical sessions. It will be chaired by former NBA President, Mr. Joseph Daudu, SAN, with Hon. Justice Ishaq Bello of the High Court of FCT as the lead speaker. Another eagerly awaited session is that on electoral justice. Independent National Electoral Commission Chairman, Prof. Mahmood Yakubu, will present the lead paper on “Prosecution and Punishment of Electoral Offences in Nigeria”. Chaired by the Chief Judge of Anambra State, Hon. Justice Peter Umeadi, key gladiators in the electoral justice sector such as Asiwaju Solomon Awomolo, SAN, Mr. Emmanuel Ukala, SAN, Dr. Alex Izinyon, SAN, Dr. Onyechi Ikpeazu, SAN, and Chief Ferdinand Orbih, SAN,
will discuss the paper. Former Delta State Deputy Governor, Prof. Amos Utuama, SAN will deliver the lead paper on “Arrest, Remand and Awaiting Trial Syndrome in Criminal Justice: Fixing the Jigsaw to end Prison Congestion”. Panelists include the Controller-General of Prisons, Mr. Ja’afaru Ahmed; Inspector-General of Police, Mr. Ibrahim Idris; Director-General of the Legal Aid Council of Nigeria, Mrs. Joy Bob-Manuel and veteran Prison Reform Advocate and Executive Director of PRAWA, Dr. Uju Agomoh. Delta State Chief Judge, Hon. Justice Marshal Umukoro will chair the session. The session on “Corruption, Economic and Financial Crimes: Special Courts to the Rescue?” will be chaired by former NBA President, Dr. Olisa Agbakoba, SAN. Lead speakers include the Acting Chairman of EFCC, Mr. Ibrahim Magu and ICPC Chairman, Prof. Bolaji Owasanoye. Panelists include Chief Mike Ozekhome, SAN, Mr. Rotimi Jacobs, SAN, Dr. Garba Tetengi,
SAN and CACOL Executive Chairman, Mr. Debo Adeniran. Other thematic areas to be tackled by the participants are “Speedy Trials, Timelines and Interlocutory Proceedings: Has ACJA helped?” as well as “Human Trafficking and Transnational Crimes: Institutional and Legal Remedies”. Aside from eminent judges, other renowned jurists also expected at the Conference include former NBA President, Mr. Okey Wali, SAN; Nigerian Institute of Advanced Legal Studies (NIALS) Director-General, Prof. Deji Adekunle, SAN; Prof. Yemi Akinseye-George, SAN, Mr. Jibrin Okutepa, SAN, and Chief of Army Staff, Lt. Gen. Tukur Burutai. With full scholarships to over 120 young Lawyers, the ICLE-certified Conference, will be rounded off with a dinner and awards night. The dinner speech will be delivered by former NIALS Director-General, Prof. Epiphany Azinge, SAN.
Young Lawyers to be Trained on Entrepreneurial Skills Akinwale Akintunde GreySage Consulting, a Lagos-based firm, is set to equip young Lawyers with affordable vital information and resources, that can acquaint them with entrepreneurial skills set, a Do-It-Yourself approach to career development, and creating a prosperous and fulfilling work life. The young Lawyers would be trained in a month-long Consultation session in April, 2018. According to the organisers, the air of disillusionment and dissatisfaction common among young Lawyers grappling with how they can navigate their careers and make a mark in the highly competitive Nigerian legal industry, is of concern. According to a statement
issued by GreySage Consulting, it has teamed up with a Lawyer, Akinyemi Ayinoluwa, who is a Founding Partner at HighTower Solicitors & Advocates for the training. “Among some of the issues young Nigerian Lawyers grapple with are low Remuneration, unbearable work environments, unemployment, lack of opportunities for growth and promotion, as well as lack of healthy work/ life balance. “While this crippling status quo remains, the market welcomes not less than 3,000 new wigs every year. Only a lucky few, will land a spot with the limited number of thriving workplaces scattered across Nigeria. “Having studied industry trends and the effects of globalisation, GreySage Consulting now seeks to equip young Lawyers
with affordable vital information and resources that can acquaint them with entrepreneurial skills set, a Do-It-Yourself approach to career development, and creating a prosperous and fulfilling work life. “With a hands on approach, GreySage Consulting have teamed up with Akinyemi Ayinoluwa, Founding Partner at HighTower Solicitors & Advocates, to produce a monthlong Consultation session - in April, 2018 - available to only 20 young Lawyers in Lagos, Nigeria", it stated. The firm stated that willing participants will have a One-on-One Basis, and get an opportunity to share from a resourceful wealth of experience from a successful Lawyer-preneur. “With a keen understanding
of the dynamics of the terrain, Akinyemi will beam his light on four important topic areas: How to build a Community that supports your law practice; What you must do before starting a practice in Nigeria; How to cultivate a Personal Brand that supports your career; and How Nigerian Lawyers can leverage content in a digital world", it added. Interested Lawyers are however, advised to send send an email to info@greysage.org. GreySage Consulting Ltd., is a new consulting company headquartered in Lagos, Nigeria. The firm is dedicated to empowering practitioners in the Creative and Legal industry, via trainings, seminars, advisory services, industryspecific events, mentorship, and Network events.
Justice Raliat Adebiyi of a Lagos High Court sitting in Ikeja, has ruled that the Nurses and Midwives Association, is subject to any Health Laws enacted within Lagos State. The Judge gave the judgement in a suit filed by representatives of the Association of Registered Nurses & Midwives of Nigeria against Lagos State Attorney-General, Ministry of Health and HAFEMAA. The Association, in the suit brought by way of originating summons, had prayed the Court to make several declarations, among which, is that States cannot legislate on issues relating to Professional bodies, since it is a matter on the Exclusive Legislative list. They also wanted the Court to declare that certain provisions of the Health Sector Reform Law (HSRL) 2006, were inconsistent with some portions of the Nurses & Midwifery Registration Act, which is their enabling law, and for the Court to declare the said provisions of the HSRL 2006 unconstitutional, null and void. Lagos State Government represented by Mrs. Adesomoju,
Assistant Director in the Directorate of Civil Litigation, Ministry of Justice, had joined issues with the filing of a Counter-Affidavit and Written Address. Counsel for the State had argued amongst other things, that Lagos State has not legislated on Professional bodies, but on Health matters, which is not on the Exclusive list but a Residual matter. The State further argued that the enabling Act of their Association, mandates them to comply with the law of whichever State they practice their profession in, adding that they are therefore, bound to comply with the HSRL 2006. Delivering her judgement in the suit with the No ID/1207GCM/16 OMOTOSHO JOSEPH FOLA & ORS v AG, MIN OF HEALTH & HEFEMAA, Justice Adebiyi upheld the argument of the State, to the effect that Lagos State Government has not legislated on Professional bodies and members of the Nurses and Midwives Association, as prayed by the Claimants. The court held that, the Nurses and Midwives Association, is subject to any Health Laws enacted within Lagos State.
Oil & Gas Experts Storm Lagos for Confab Over 50 leading oil and gas experts, will gather in Lagos on March 20 and 21 to brainstorm on the challenges and opportunities in the volatile sector. The event is the 2nd Lawyers in Oil & Gas Conference holding at Eko Hotel & Suites, Lagos. The Conference, which will also herald the inaugural “Lawyers in Oil & Gas Awards”, is coming on the heels of threats posed by a shift by several countries towards the green economy, with serious consequences for governments and operators in the sector. The award categories include Oil and Gas Company of the year, Indigenous Oil and Gas Company of the Year, Oil and Gas Law Firm of the Year, Legal Personality of the Year, Most Outstanding Young Lawyer, and In-house Counsel of the Year. Ms. Raqeebah Oloko, Managing Director of Bromshy Communications, said: “Lawyers have critical roles to play in the emerging gas economy. We have carefully selected a stellar faculty comprising about
50 experienced industry experts, regulators, and practitioners. We believe that this Conference will provide immense value to participants, and forge a roadmap for the legal architecture required to drive the gas-to-power legal trajectory”. The Conference will address key legal and institutional challenges in the oil and gas sector, including issues on regulation, production, generation, transmission and distribution of energy, finance, arbitration, taxation, ICT as well as environmental and safety issues. Renowned industry expert, Prof. Konyinsola Ajayi, SAN will chair the session on “Appraising the Regulatory Framework in Nigeria’s Energy Sector”, while Edo State AttorneyGeneral and Commissioner for Justice, Prof. Yinka Omorogbe, is the Lead Speaker. Hon. Mark Gbillah, Vice Chairman of the House Committee on Petroleum Resources (Upstream); Mr. Kanayo Ode, Managing Director of NIPEX and Mr. George Akpan, Senior Attorney at ExxonMobil, will dissect the paper.
Lawyer Arraigned for Forgery in Kogi State Yekini Jimoh in Lokoja A practicing Lawyer in Kogi State, Chief Julius Elukpo, was recently arraigned before a Lokoja Chief Magistrate Court on a one count charge of forgery. Elukpo, who is also the Chairman of the Kogi State Elders Forum, was alleged to have used forged signatures of two other persons, to write
a petition to the Minister of Health on March 22, 2017. When the charge was read to Elukpo, he pleaded not guilty. However, the Police Prosecutor, Sgt. Obi Ubana, told the court presided over by Mr Seidu Hussein, that Elukpo in the petition alleged corruption, fraud and injustice against some management staff of
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13.03.2018
NBA Lagos Celebrates Veteran Activist, Pa Gomez at 90 The Nigerian Bar Association, Lagos Branch, is rolling out the red carpet to celebrate one of its foremost elders and veteran Bar activist, Pa Tunji Gomez, who turns 90 on March 18, 2018. Popularly known by his sobriquet, “It’s a matter of conscience”, the decision to honour Pa Gomez, a Life Bencher, was initiated by the Chukwuka Ikwuazom-led Branch Executive Committee, and sealed at the last monthly meeting of the branch via a unanimous resolution of the members. According to a statement by Mr. Chukwuma Ezeala and Mr. Alfred Akinjo, Chairman and Secretary respectively, of the "Pa Tunji Gomez at 90 Planning Committee," the birthday celebrations will kick off on Friday, March 16, 2018, with a novelty football match at 3 pm at King’s College Pitch, TBS, Lagos between the branch and the college team. Pa Gomez is an alumni of King's College. This will be followed by a Thanksgiving Church Service on Sunday, March 18, 2018 at the highbrow Cathedral Church of Christ, Marina, Lagos. The climax of the celebration, is a birthday lecture/dinner to be held the same day at the prestigious MUSON Centre, Lagos. The dinner lecture titled “The SAN Rank: To be or Not to be?” will be delivered by leading human rights activist, Mr. Femi Falana, SAN, while a Life Bencher and former Chairman of the Body of Benchers, Chief Simeon Olakunri, SAN, will chair the occasion. The dinner is slated to be attended by the crème de la crème of Nigeria’s Bar and Bench, among others. Pa Gomez was admitted to the English Bar in 1961, about 57 years ago. The ActivistLawyer, who is reputed for his courage and candour, still attends the meetings of his beloved "Premier Branch" regularly, even at the ripe old age of 90. He was the arrowhead and convener of the popular Movement for
the Abolition of the Rank of SAN (MARSAN), contending that the process for the award of the title of Senior Advocate of Nigeria was riddled with flaws, and that the rank had outlived its usefulness. Pa Gomez was born in 1928 and enrolled into King's College, Lagos in 1944. His activism manifested early in his eventful life, as he is reputed to have led the 1948 strike at the College, which significantly turned around the fortunes of the students. This early brush with constituted authority, also sowed the seed for his eventual career choice, following the pro bono legal services offered the striking students by one Alex Taylor Esquire. Though a junior lawyer then, Pa Gomez was part of the legal team that defended late Chief Obafemi Awolowo, during his celebrated treason trial in 1962. He is also reputed to be the first Lawyer to sue the Military Government in Nigeria, in the celebrated case of Madam Sapara v Lagos State Government. An avid yoga practitioner, Pa Gomez is a longstanding advocate for the welfare especially of young Lawyers. He is the author of the book, “Guide to Happy Marriage”.
Pa Tunji Gomez
LAWYER ARRAIGNED FOR FORGERY IN KOGI STATE the Federal Medical Centre, Lokoja. He said that the Police investigated, and established that two of the signatories on the petition were forged, prompting the State Commissioner of Police to institute the case against Elukpo. Sgt Ubana said that the offence is contrary to Section 364 of the Penal Code, saying that the offence carries a maximum of 14 years imprisonment on conviction. He told the court that he had lined up five witnesses, including the two persons whose signatures were allegedly forged by the Defendant, to prove the case.
CONTINUED FROM PAGE 5
Ubana then asked the court to remand the Defendant in prison custody, and asked for the adjournment of the case, saying that the case of forgery is not ordinarily a bailable one. Counsel to Elukpo, Mr Muizdeen Abdulahi, while making oral application for the bail of Elukpo, urged the court to use its discretion in granting his client bail. He said that Elukpo is well respected member of the Bar in Lokoja, who will not interfere with the investigation or jump bail. Responding , the Prosecutor, Ubana, urged the court not to grant the bail, saying that Elukpo had consistently failed to honour
police invitations, and that forced the police to arrest him on March 8 and consequently, charge him to court. In his ruling , the Chief Magistrate agreed with the Prosecution that the case was ordinarily a bailable one, but explained that the court can still exercise its discretion over the application. Hussein consequently, granted Elukpo bail on self recognition with a N50,000 bond. He seriously warned him not to interfere with investigation, and not to commit any other offence. The Chief Magistrate, then adjourned the case till March 19, for mention.
Legal Personality of the Week Tiwalola Osazuwa
‘Law Practice is About Solving People’s Problems’ My name is Tiwalola Osazuwa. I am currently a Senior Associate in AELEX’s Corporate & Commercial Practice, with a focus on intellectual property, insurance and mergers & acquisitions. Over the course of my career, I have advised numerous indigenous and multinational clients, on a wide range of corporate and commercial issues, including the protection of intellectual property rights; facultative insurance and reinsurance; measures for combating anti-counterfeiting; foreign investments and business set up; and merger & acquisitions. I obtained my LL.B from the Obafemi Awolowo University, Ile-Ife in 2009, and I was called to the Nigerian Bar in 2010. I am a member of the International Trademark Association, where I served on the Issues Identification Committee for two years, and I currently serve on the Trademark Office Practice Committee. I am also a member of the International Bar Association and serve on the Franchise Law Committee, Intellectual Property and Entertainment Law Committee, and the Mergers & Acquisitions Committee. As a member of the American Bar Association, I serve on the Intellectual Property Group and the Forum on Franchising. Have you had any challenges in your career as a Lawyer, and if so, what were the main challenges? Yes. I have experienced some challenges. The most notable challenge has been maintaining the right balance between my responsibilities as a new mother with my career as a Lawyer. Following my return from maternity leave early last year, I had to catch up with all the work that had been done in the time I was away, mainly because I had been supervising the intellectual property team. I also felt the pressure to hit the ground running. When you work at a top tier firm, there
Trademark Association in San Diego, California. I was five years post-call at the time, and I had applied to moderate by making a submission on franchising. The International Trademark Association is a worldwide not- for-profit advocacy association of trademark owners and Lawyers. It has about 7,000 members from almost 200 countries.
Tiwalola Osazuwa
is a lot to do and working late is sometimes inevitable. This means that I had to juggle being able to meet my client deadlines, with being available for my child. This challenge has now been significantly resolved with a lot of support from AELEX. With an understanding of the challenges that we mothers face with managing care for our children and being able to concentrate on work, the firm provided a facility where our children can be cared for by our nannies. What was your worst day as a Lawyer? I have definitely had some bad days, but none of them are memorable enough to mention. What was your most memorable experience as a Lawyer? I moderated a table topic on franchising at the 2015 annual meeting of the International
Who has been most influential person in your life? My Parents have been very influential in my life. They are very hardworking people who taught my siblings and I, to distinguish ourselves by striving to be the best. In my professional life, Mr. Theophilus Emuwa, the Partner who heads the Corporate Commercial and Intellectual Property Practice Groups of AELEX, has been the most influential. I have worked closely with him over the years, and learned a lot of what I know as a Lawyer from him. One of the most valuable things I have learned from him, is that it is not enough to know the law (as clients can always pick up a copy of the law to read it). I learned that as a Business Lawyer, it is important to be able to understand the client’s goal, and then advice on how it can be achieved legally. I have also been influenced by my husband, Nosa Osazuwa and Chinyerugo Ugoji (both more senior Lawyers), who have provided valuable advice and guidance, which has contributed significantly to my growth as a Lawyer. Why did you become a Lawyer? I wish I could say that I read law for a noble reason like solving people’s legal problems or something along those lines, but that is not the case. I was mostly influenced by other people,
who thought that I had a natural flair for law. From my junior year in secondary school, I was a member of the debating team, and I always led the team in debate competitions which we mostly won. This made my teachers, always say that I would be suited for legal practice. Also, my parents considered me to be talkative, and would say that I was a “Lawyer in the making”. To top all of these, I read one of my Mum’s novels written by Sidney Sheldon - the Rage of Angels, and I was inspired by one of the characters who was a world-class Lawyer, and that did it for me. What would be your advice to anyone wanting a career in law? The practice of law is not just about the knowledge of law itself, it is mostly about solving people’s problems or aiding them in achieving their business goals. Once you have this understanding, you are on your way to becoming a great lawyer. If you had not become a Lawyer, what career would you have chosen? I am not really sure, because I was one of those for whom it was law or nothing. Though when I was younger, I had wanted to be an Aeronautical Engineer, because my uncle was a pilot. I am not sure that I even really understood what an Aeronautical Engineer did. However, towards the end of my junior year, I had made up my mind that it was Law or nothing. Where do you see yourself in ten years? I will be a Partner in a top tier firm, and be actively involved in the development of the law, particularly in my areas of practice. I also hope to be a role model for younger Lawyers.
13.03.2018
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UTILIZATION OF FOREIGN EXCHANGE AS AT 9TH OF MARCH 2018 S/N
CUSTOMERS
AMOUNT (US$)
1
ADESINA IYIOLA STEPHEN
2
AGRO BARMAGEN LTD
3,920.00 50.00
DATE
S/N
CUSTOMERS
PTA
360.00
5-Mar-18
80
LORNA NIGERIA LTD
7,670.00
ARTIFICIAL FILAMENT TOW
361.00
6-Mar-18
159
MIKEAKINLUSI VICTOR
PAYMENT FOR CAPITAL EQUIPMENT
PURPOSE
361.00
RATE
5-Mar-18
DATE
81
S/N
LORNA NIGERIA LTD
CUSTOMERS
AMOUNT (US$)
7,585.00
ARTIFICIAL FILAMENT TOW
PURPOSE
361.00
RATE
6-Mar-18
160
UDE CHINYERE
AMOUNT (US$) 1,000.00 3,000.00
PURPOSE
RATE
PTA
360.00
PTA
360.00
DATE 8-Mar-18 8-Mar-18
3
AMUND OLADIPO KAYODE
3,333.13
PTA
360.00
5-Mar-18
82
ASPIRA NIGERIA LTD
283,500.00
TALLOW OIL
361.00
6-Mar-18
161
IZUKA NKECHI MABEL
2,880.00
PTA
360.00
8-Mar-18
4
ANIJEKWU CHINEDU
4,000.00
PTA
360.00
5-Mar-18
83
CBN
348,558.72
UNUTILIZED IMTO TRANSFERRED TO CBN
357.00
7-Mar-18
162
IZUKA IHEANYI AUGUSINE
2,880.00
PTA
360.00
8-Mar-18
1,000.00
PTA
175,307.72
5
AROH EKENE SYLVESTER
6
BUBA ABDULHAMID
7
CBN
280,133.82
CBN
207,265.97
8 9
DAGGI JOEL NEGBENEBOR
10
DANAFRIC AGRO LTD
11
4,000.00
4,000.00 20,000.00 500.00
84
CBN
360.00
5-Mar-18
85
ARS NIGERIA LTD
357.00
360.00
5-Mar-18
86
LAWAL KOREDE ABIMBOLA
357.00
7-Mar-18
163
SOKARI TOKUIBIYE AYO
306.25
7-Mar-18
164
EVELYN ODION ODIASE
4,000.00
PTA
360.00
8-Mar-18
360.00
7-Mar-18
165
OJEABULU JOSEPH LARRY
1,000.00
PTA
360.00
8-Mar-18
360.00
360.00
8-Mar-18
5-Mar-18
360.00
5-Mar-18
88
AGANAMA CHINAMELU N.
4,000.00
PTA
360.00
7-Mar-18
167
NWOSU UGO WALTER
3,250.00
PTA
360.00
8-Mar-18
361.00
5-Mar-18
89
OYEBODE HENRIETTA OGHENE
3,885.31
PTA
360.00
7-Mar-18
168
KOLO VICTORIA NNAWO
2,500.00
PTA
360.00
8-Mar-18
4,000.00
PTA
360.00
8-Mar-18
PTA
360.00
DAWODU GANIYAT TANI
695.56
PTA
360.00
5-Mar-18
91
SHOGADE TOLULOPE TAIWO
1,000.00
PTA
360.00
7-Mar-18
170
NWOSU, NNABUIHE MICHAEL
4,500.00
SCHOOL FEES
360.00
8-Mar-18
1,387.80
PTA
360.00
5-Mar-18
92
EKERE AVWEROSUO OKE
2,775.22
PTA
360.00
7-Mar-18
171
AKPAN USORO UDOUSORO
3,015.00
SCHOOL FEES
360.00
8-Mar-18
400.00
PTA
360.00
7-Mar-18
EKE KUBIIMI
2,850.00
PTA
360.00
5-Mar-18
94
EKPE FLORENCE CHIDUBEM
4,000.00
PTA
360.00
7-Mar-18
173
OGBEKILE EMMANUEL CHIEDU
4,000.00
BTA
360.00
5-Mar-18
95
OLAMIJOLO SAMSON FEMI
3,860.00
PTA
360.00
7-Mar-18
174
CWAY FOOD & BEVERAGES
44,800.00
BTA
360.00
5-Mar-18
93
96
KAMSON TAIWO
3,257.43
ESIONE CHIBUOKEM ISREAL
1,388.80
5-Mar-18
MERJIKS INTER BUZ
15
EVELYN UCHE OBIOMA
360.00
169
16 17
PTA
7-Mar-18
NZEUKWU THEOPHILUS NNAMDI
DR ENEMA JOB AMODU
835.00
360.00
166
12
EHIMUAN DESMOND
PTA
7-Mar-18
PTA
357.00
4,000.00
PTA
1,000.00
UNUTILIZED IMTO TRANSFERRED TO CBN
ADERIBIGBE OLABISI ADEWALE
4,000.00
UNUTILIZED IMTO TRANSFERRED TO CBN DISPERSION IN PLASTICS PTA
PTA
90
BABATUNDE TIMOTHY AFOLABI
400.00
FISHMEAL
5-Mar-18
87
85,392.00
13 14
DAWODU GANIYAT TANI
5-Mar-18
PTA UNUTILIZED IMTO TRANSFERRED TO CBN
172
STERLING BANK
347,007.75 230.00
SCHOOL FEES
360.00
8-Mar-18
INTERBANK
360.25
8-Mar-18
ISACA MEMBERSHIP
360.00
8-Mar-18
PE BOTTLE CAP3000PCSPACK
360.50
8-Mar-18
OLAMIJOLO SAMSON FEMI
138.38
PTA
360.00
7-Mar-18
175
CWAY FOOD & BEVERAGES
46,000.00
PE BOTTLE CAP3000PCSPACK
360.50
8-Mar-18
18
EZEKIEL CHINEME IFUNANYA
1,000.00
PTA
360.00
5-Mar-18
97
NNAGHA CHIJIOKE JOVITA
3,000.00
PTA
360.00
7-Mar-18
176
CWAY FOOD & BEVERAGES
46,000.00
PE BOTTLE CAP3000PCSPACK
360.50
8-Mar-18
19
FRANCIS ANYANWU
1,200.00
PTA
360.00
5-Mar-18
98
DIXON OLANREWAJU A.
4,000.00
PTA
360.00
7-Mar-18
177
CWAY FOOD & BEVERAGES
46,000.00
PE BOTTLE CAP3000PCSPACK
360.50
8-Mar-18
20
GBADEBO JIMOH
3,000.00
PTA
360.00
5-Mar-18
99
ORE IYABODE MARIA
4,000.00
PTA
360.00
7-Mar-18
178
AFRICA AIR FILTERS LTD
233.67
AIR FILTERS
360.50
8-Mar-18
21
HARUNA ZUYEALI AMINA
2,000.00
PTA
360.00
5-Mar-18
100
ORE ADEWALE JOEL
4,000.00
PTA
360.00
7-Mar-18
179
AFRICA AIR FILTERS LTD
899.88
AIR INLET FILTERS
22
IBEDU NONYE KATE
4,000.00
PTA
360.00
5-Mar-18
101
ABDULMUMINI AMINU
4,000.00
PTA
360.00
7-Mar-18
180
AIRTEL
23
IDOWU OLUWAKEMI MOSUN
122.49
PTA
360.00
5-Mar-18
102
WUYEP KARNAP FENAN
4,000.00
PTA
360.00
7-Mar-18
181
CBN
24
JACKREECE DENOVAN
4,000.00
PTA
360.00
5-Mar-18
CBN
187,098.20
25
KWARAH MOHAMMED TAL
4,000.00
PTA
360.00
5-Mar-18
104
ASIEGBU EMMANUEL IFEANYI
4,000.00
PTA
360.00
7-Mar-18
183
GIVANAS NIGERIA LTD
100,000.00
26
LAILA A. OSIFOH
2,500.00
PTA
360.00
5-Mar-18
105
FADAIRO ANTHONY TAIYE
4,000.00
PTA
360.00
7-Mar-18
184
YUSUF WASIU OLAYIWOLA
4,000.00
27
NTEKPERE IDONGESIT ETIM
4,000.00
PTA
360.00
5-Mar-18
103
106
ADEWALE TAWAKALITU ANIKE
EHIMUAN OSEZELE DESMOND
28
NTIA NSIKAKABASI JAMES
4,000.00
PTA
360.00
5-Mar-18
107
JUBRIL A ADEOYE
29
NWOSU JUDE EJIKEME
5,000.00
BTA
360.00
5-Mar-18
108
MARIAN O AKEREDOLU
30
7-Mar-18
357.00
9-Mar-18
306.20
9-Mar-18
360.00
9-Mar-18
YUSUF SHAKIRAT TEMITOPE
4,000.00
688.02
SCHOOL FEES
360.00
7-Mar-18
186
ABDULLAHI SALMOT OPEYEMI
4,000.00
PTA
360.00
9-Mar-18
6,083.57
SCHOOL FEES
360.00
7-Mar-18
187
ABDULLAHI DAMOLA MARYAM
4,000.00
PTA
360.00
9-Mar-18
EKWENSI CHUKWUDI IKE
3,250.00
PTA
360.00
5-Mar-18
110
HAMZAT A KARAYE
5,000.00
SCHOOL FEES
360.00
7-Mar-18
189
SOYOMBO OMO THEOPHILUS
4,000.00
PTA
360.00
9-Mar-18
PTA
360.00
5-Mar-18
111
FRANEMM INDUSTRIES LTD
7,221.51
LIVING EXPENSES
360.00
7-Mar-18
190
WOPARA ONUOHA FIDELIS
200.00
PTA
360.00
9-Mar-18
36
360.00
5-Mar-18
112
AIYELESO LATEEF OLAYEMI
PTA
360.00
5-Mar-18
113
OLUWASEYI AYOJIBUNOH
PTA
360.00
5-Mar-18
114
ABDULLAHI S MUKHTAR
1,600.00
PTA
360.00
9-Mar-18
360.00
7-Mar-18
192
OWOLABI AGNES ABIODUN
4,000.00
PTA
360.00
9-Mar-18
360.00
7-Mar-18
193
AKINYEMI, JOSEPH OJO
1,000.00
PTA
360.00
9-Mar-18
ANNUAL MAINTENANCE FEE
361.00
7-Mar-18
AKINYEMI, ESTHER ABOSEDE
1,000.00
PTA
360.00
5-Mar-18
116
MANTRAC NIG LTD
7,780.29
CATERPILLAR SPARE PARTS
360.50
7-Mar-18
195
GEORGE CHRISTIANA DELE
4,000.00
PTA
360.00
9-Mar-18
PTA
360.00
5-Mar-18
117
MANTRAC NIG LTD
12,499.13
CATERPILLAR SPARE PARTS
360.50
7-Mar-18
196
ODUEKE TITILAYO ARINOLA
1,387.61
PTA
360.00
9-Mar-18
OSUNTOGUN OLAYINKA KIKE
4,000.00
194
PTA
360.00
9-Mar-18
5-Mar-18
118
MANTRAC NIG LTD
145,739.00
CATERPILLAR SPARE PARTS
360.50
7-Mar-18
400.00
PTA
360.00
5-Mar-18
119
MANTRAC NIG LTD
305,640.00
CATERPILLAR SPARE PARTS
360.50
7-Mar-18
198
IBE BONIFACE EMEKA
4,000.00
PTA
360.00
9-Mar-18
3,000.00
PTA
360.00
5-Mar-18
120
WARREN POINT ELECTRICAL
124,119.20
ESSENTIALPARTS FOR VENTILATING E
360.50
7-Mar-18
199
BENEDICT ZEKE IKPENOSEN
1,000.00
PTA
360.00
9-Mar-18
1,798.20
360.00
33,668.73
360.00
9-Mar-18
5-Mar-18
121
AGRO BARMAGEN NIG LTD
METHONINE 98
361.00
ONYEOKORO WALE EMEKA
5,000.00
BTA
360.00
9-Mar-18
1,798.20
SCHOOL FEES
360.00
5-Mar-18
122
MANTRAC NIG LTD
1,670,400.00
OLYMPIAN GEP DIESEL GENERATOR SET
360.50
7-Mar-18
201
BIBILARI ALICE WUNMI
4,000.00
PTA
360.00
9-Mar-18
4,000.00
PTA
360.00
5-Mar-18
123
MANTRAC NIG LTD
668,160.00
OLYMPIAN GEP DIESEL GENERATOR SET
360.50
7-Mar-18
202
AIGBEDO SAMSON
2,000.00
PTA
360.00
9-Mar-18
PTA
360.00
5-Mar-18
124
MANTRAC NIG LTD
25,219.12
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
BOBMANUEL TSITSE HELEN
4,000.00
PTA
360.00
PTA
360.00
5-Mar-18
125
MANTRAC NIG LTD
184,768.83
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
204
FRANCIS ASUK
3,000.00
PTA
360.00
9-Mar-18
360.00
5-Mar-18
126
MANTRAC NIG LTD
142,354.03
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
205
AFAMANADU GLADYS
2,000.00
PTA
360.00
9-Mar-18
6-Mar-18
127
MANTRAC NIG LTD
124,966.82
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
6-Mar-18
128
MANTRAC NIG LTD
12,480.57
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
207
CHIKERE BLAISE
4,000.00
PTA
360.00
9-Mar-18
6-Mar-18
129
MANTRAC NIG LTD
11,491.74
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
208
OKONJI CHUKWUEMEKA
2,000.00
PTA
360.00
9-Mar-18
MANTRAC NIG LTD
169,461.44
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
209
OKONJI CHUKWUEMEKA
1,940.13
PTA
360.00
9-Mar-18
23,897.44
CATERPILLAR SPARE PARTS.
360.50
7-Mar-18
210
IBRAHIM DAMILOLA ADEREMI
4,000.00
PTA
360.00
9-Mar-18
UNUTILIZED IMTO TRANSFERRED TO CBN
357.00
8-Mar-18
UNUTILIZED IMTO TRANSFERRED TO CBN
357.00
8-Mar-18
212
AGUH CHUKWUGOZIE VICTOR
3,000.00
PTA
360.00
9-Mar-18
PTA
360.00
8-Mar-18
213
AWOTESU IYABODE ABIGAIL
2,000.00
PTA
360.00
9-Mar-18
8-Mar-18
UWAH EBERE INNOCENT YINKA ADEMUWAGUN
48
CBN
49
CBN
272,197.55
UNUTILIZED IMTO TRANSFERRED TO CBN
357.00
50
RETECH POWER PRODUCTS
100,000.00
GASOLINE GENERATOR
335.00
328,384.05
AIGBOJE EMMANUEL INI
4,000.00
200
CFA EXAMINATION
46 47
51
550.00
7-Mar-18
BTA
SOLOMON A ABE
1,400.00
50.00
4,988.90
TIFASE JOHN OLUSINA
4,000.00
360.00
ENYELIKE BRIGHT MASI
43
UKEJE COMFORT UGONMA
SCHOOL FEES
197
44 45
SOLOMON A ABE
PTA
UBA PENSIONS CUSTODIAN LTD
OLADOYINBO GBOLAHAN DELE
SCHOOL FEES SCHOOL FEES
1,665.37
SALAHUDEEN NURUDEEN
115
191
7,872.00 14,967.48
4,000.00
SIGBEKU YEMI FOLORUNSO
5-Mar-18
7-Mar-18
9-Mar-18
OPALUWA AMEH SAMSON
40
360.00
360.00
360.00
OPERE SIMIAT MORENIKE
41
PTA
SCHOOL FEES
PTA
37
42
4,000.00
7,395.50
188
38 39
ONYEGBUNWA A VERO
PTA
555.12
7-Mar-18
9-Mar-18
2,000.00
4,000.00
360.00
360.00
2,500.00
1,500.00
SCHOOL FEES
PTA
3,980.93
OKOLI EUGENE CHIBUEZE
14,569.80
185
UNUTILIZED IMTO TRANSFERRED TO CBN H VEGETABLE FAT PTA
ODEMO CLEMENT
OLAYINKA JESUMISEUN KEMI
FRANEMM INDUSTRIES LTD
360.00
182
OGUALIRI CYPRIAN OWEN
ONYEAGUSI NONYE EUCHARIA
109
PTA
7-Mar-18
8-Mar-18 9-Mar-18
OKAFOR JECINTA GABRIEL
33
5-Mar-18
360.00
8-Mar-18
360.50 357.00
31
34
360.00
835.00
BTA
360.50
NONDSA SIM QUARTER SIZE CARD UNUTILIZED IMTO TRANSFERRED TO CBN
32
35
PTA
5,000.00
54,749.64 242,227.40
UNUTILIZED IMTO TRANSFERRED TO CBN
PTA
357.00
6-Mar-18
130
52
AYOADE AJOKE MUJIDAT
5,000.00
BTA
360.00
6-Mar-18
131
MANTRAC NIG LTD
53
ORJI MERIT
4,000.00
PTA
360.00
360.00
6-Mar-18
132
CBN
286,946.18 242,134.59
203
206
211
AKINOLA OLUWADAMILOLA
OKORIE GEORGE UCHE
4,000.00
1,500.00
PTA
360.00
PTA
360.00
9-Mar-18
9-Mar-18
9-Mar-18
54
OSAYEMI AYINDE LAWRENCE
4,000.00
PTA
360.00
6-Mar-18
133
CBN
55
OKONJI KENNETH IKE
2,500.00
PTA
360.00
6-Mar-18
134
MADUBA NONSO EDMOND
1,397.39
PTA
360.00
6-Mar-18
135
EZIKE JOHN EMEKA
1,000.00
PTA
360.00
950.00
PTA
360.00
6-Mar-18
136
DAWODU RAOLAT WUNMI
4,000.00
PTA
360.00
8-Mar-18
215
OBEBE BOLARINDE J
1,000.00
PTA
360.00
9-Mar-18
137
GRILLO OLUWAYEMI SOLA
4,000.00
PTA
360.00
8-Mar-18
216
MODUPE ALIGASIM
4,000.00
PTA
360.00
9-Mar-18
56
;OKONJI KENNETH IKE
57
MADUAGWU DAVID KANAYO
58
NWANDU DANIEL EZUGO
4,000.00
PTA
360.00
6-Mar-18
4,000.00
214
OMOTAYO AYODELE ELIZABETH
692.90
PTA
360.00
9-Mar-18
59
ODUOZA JUMAI JUDITH
4,000.00
PTA
360.00
6-Mar-18
138
OKUBADEJO ULUNMA NJIDEKA
4,000.00
PTA
360.00
8-Mar-18
60
EGBADON MATTHEW EO
4,000.00
PTA
360.00
6-Mar-18
139
ABIOLACUDJOE ROSELINE LARA
2,080.00
PTA
360.00
8-Mar-18
218
NNADI UZO O MARSHAL
4,000.00
PTA
360.00
9-Mar-18
61
AMIR SALIHU BEN MUSA
3,500.00
PTA
360.00
6-Mar-18
140
OKONKWO AHAM SILAS
1,000.00
PTA
360.00
8-Mar-18
219
AKENOVA ULOAKU VERNITA
3,880.24
PTA
360.00
9-Mar-18
5,000.00
62
141
OKOLI JUDE CHUKWUMA
4,000.00
PTA
360.00
217
AKINSOLA VICTOR SEGUN
3,750.00
PTA
360.00
9-Mar-18
BUHARI MOMODU ABIODUN
1,387.80
PTA
360.00
6-Mar-18
8-Mar-18
220
CRESTLINE ENERGY RES. LTD
BTA
360.00
9-Mar-18
63
ADENIYI ELISABETH ALABA
2,000.00
PTA
360.00
6-Mar-18
142
BABALOLA ISREAL OLUSEGUN
4,000.00
PTA
360.00
8-Mar-18
221
ALFA ENECHOJO STELLA
12,500.00
SCHOOL FEES
360.00
9-Mar-18
64
ALUKO PATRICK MAYOWA
3,996.88
PTA
360.00
6-Mar-18
143
OVIE OTEBELE ROBIN G E
2,800.00
PTA
360.00
8-Mar-18
222
CHINEZE E NWAUWA
3,000.00
SCHOOL FEES
360.00
9-Mar-18
360.00
360.00
3,000.75
SCHOOL FEES
360.00
9-Mar-18
65
ABDUHALEEM KUNLE NAJEEM
5,000.00
BTA
6-Mar-18
144
IKWOR NNACHI ONUOHA
3,600.00
BTA
8-Mar-18
223
MARY C OSSAI
66
ERESANARA TORITSE OLATUNDE
5,000.00
SCHOOL FEES
360.00
6-Mar-18
145
AGAMAH ATTAH DANIEL
2,010.00
PTA
360.00
8-Mar-18
224
STANLEY N OBIA
930.00
67
MUSA GEMU AUDU
4,000.00
SCHOOL FEES
360.00
6-Mar-18
146
CHIMAUZOKA SYLVIA NGOZI
3,000.00
PTA
360.00
8-Mar-18
225
CHIDI C ONUKO
6,050.64
PTA
360.00
68
8,419.04
SCHOOL FEES
360.00
AGBAKWURU A ELUGWARAONU
1,000.00
STANDARD OSTRISH LTD
2,767.60
SCHOOL FEES
360.00
6-Mar-18
148
OGBEBOR DAMILOLA RACHEAL
4,000.00
PTA
360.00
8-Mar-18
227
NDUBUISI G OSUJI
7,000.00
SCHOOL FEES
360.00
9-Mar-18
1,180.00
SCHOOL FEES
360.00
6-Mar-18
149
MOHAMMED KAREEM MUSATAPHA
4,000.00
PTA
360.00
8-Mar-18
228
MOMOH MARTINS O
4,868.97
SCHOOL FEES
360.00
9-Mar-18
ADEYEMI ADEBISI OLUFEMI
12,881.40
9-Mar-18
6-Mar-18
150
SHEHU JAMILU USMAN
3,500.00
PTA
360.00
8-Mar-18
9-Mar-18
OMANG KINGSLEY BISONG
360.00
147
9-Mar-18
360.00
69
SCHOOL FEES
6-Mar-18
360.00
SCHOOL FEES
70 71
SHOLANKE IYABODE ABIGAIL
LIVING EXPENSES
226
NIGER DELTA UNIVERSITY
13,858.00
SCHOOL FEES
360.00
9-Mar-18
8-Mar-18
229
VICTOR O OKAFOR
3,021.00
SCHOOL FEES
360.00
72
KADUNA STATE UNIVERSITY
2,748.31
SCHOOL FEES
360.00
6-Mar-18
151
EJIKING ENT NIG
5,000.00
BTA
360.00
8-Mar-18
230
INVESTMENT AND PROPERTY LTD
13,665.59
SCHOOL FEES
360.00
73
KADUNA STATE UNIVERSITY
2,938.25
SCHOOL FEES
360.00
6-Mar-18
152
SANUSI RASAQ ADISA
2,000.00
PTA
360.00
8-Mar-18
231
INVESTMENT AND PROPERTY LTD
11,271.70
SCHOOL FEES
360.00
9-Mar-18
74
CHEDE EDWARD EKENE
1,980.83
SCHOOL FEES
360.00
6-Mar-18
153
AKPOJAROH A ANTHONY
4,000.00
PTA
360.00
8-Mar-18
232
UNION BANK
32,584.20
INTERBANK
360.20
9-Mar-18
75
MANTRAC NIG LTD
334,080.00
OLYMPIAN GEP DIESEL GENERATOR SET
360.50
6-Mar-18
154
OGINNI OLAIDE ADEYEMI
3,055.00
PTA
360.00
8-Mar-18
233
ZENITH BANK
270,564.42
INTERBANK
360.20
76
MANTRAC NIG LTD
1,670,400.00
OLYMPIAN GEP DIESEL GENERATOR SET
360.50
6-Mar-18
155
OKOYE EMEKA CHRISTOPHER
4,000.00
BTA
360.00
8-Mar-18
234
CWAY FOOD & BEVERAGES
44,800.00
PE BOTTLE CAP3000PCSPACK
360.50
9-Mar-18
77
MANTRAC NIG LTD
668,160.00
OLYMPIAN GEP DIESEL GENERATOR SET
360.50
6-Mar-18
156
IHEDICHE CHIMEZIE IHEANACHO
1,000.00
PTA
360.00
8-Mar-18
235
NIGERIA BREWERIES
60,553.37
ALU FOILS STAR 60 CL
360.40
9-Mar-18
78
MANTRAC NIG LTD
668,160.00
OLYMPIAN GEP DIESEL GENERATOR SET
360.50
6-Mar-18
157
ODUSANYA MOTUNRAYO JOLA
1,650.00
PTA
360.00
8-Mar-18
236
NIGERIA BREWERIES
79
SEVENUP BOTTLING CO. PLC
235,002.00
PEPSI COLA MIXTURE
360.50
6-Mar-18
158
NIYILEIGH OLAWUNMI OLOHITAI
1,300.00
PTA
360.00
8-Mar-18
237
UNIKEM INDUSTRIES LTD
28,808.65 302,001.75
9-Mar-18
9-Mar-18
LINE C CRATING MACHINE
360.40
9-Mar-18
CRUDE DENATURED ETHYL ALCOHOL
360.00
9-Mar-18
SOURCES OF FOREIGN EXCHANGE AS AT 9TH MARCH 2018 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
17 18
CBN CBN
19 20 21 22
AMOUNT (US$) 83.75 284.00 2,100.00 16,375.00 42.68 74.66 565.04 1,565.20 99.99 250.00 335.00 3,003.80 375.00 1,150.50 365.82 609.70
RATE 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00
DATE 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18
3,000,000.00 2,000,000.00
357.00 5-Mar-18 357.00 5-Mar-18
AUTONOMOUS AUTONOMOUS
570.00 195.00
314.00 5-Mar-18 314.00 5-Mar-18
AUTONOMOUS AUTONOMOUS
285.00 297.36
314.00 5-Mar-18 314.00 5-Mar-18
23 24
AUTONOMOUS AUTONOMOUS
815.00 216.50
314.00 5-Mar-18 314.00 5-Mar-18
25 26
AUTONOMOUS AUTONOMOUS
950.77 52.84
314.00 5-Mar-18 314.00 5-Mar-18
27 28
AUTONOMOUS AUTONOMOUS
7,307.00 119.20
314.00 5-Mar-18 314.00 5-Mar-18
29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
340.00 500.00 425,000.00 69.96 143.01 357.53 214.85 352.86 3,547.50 12.68 3,020.48 273,334.15 500.00 250,000.00 100.00 396.31 195.50 30.34 3,345.23 56.25 627.32 614.34 200.00 2,200.00 170.00 535.00
314.00 314.00 360.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 354.87 355.00 314.00 359.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00
5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18
55 56 57 58
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
146,825.00 241.44 297.42 62.40
359.30 314.00 314.00 314.00
5-Mar-18 5-Mar-18 5-Mar-18 5-Mar-18
59 60 61 62
IMTO IMTO AUTONOMOUS AUTONOMOUS
4,070.73 369,441.03 300,000.00 2,000,000.00
355.00 355.00 330.00 359.75
5-Mar-18 5-Mar-18 6-Mar-18 6-Mar-18
63 64 65 66
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
218.78 500,000.00 340.00 138.34
314.00 359.50 314.00 314.00
6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18
67 68 69 70 71
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
199.00 2,000.00 800.00 495.00 1,000.00
314.00 314.00 314.00 314.00 359.00
6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18
72
AUTONOMOUS
1,100.00
314.00 6-Mar-18
www.ubagroup.com
S/N 73
SOURCE IMTO
74 75
IMTO AUTONOMOUS
AMOUNT (US$) 3,971.06
RATE DATE 354.90 6-Mar-18
358,959.00 1,000.00
355.00 6-Mar-18 314.00 6-Mar-18
76 77 78 79
AUTONOMOUS AUTONOMOUS
456.47 34.19
314.00 6-Mar-18 314.00 6-Mar-18
AUTONOMOUS AUTONOMOUS
499,960.00 317,460.32
359.50 6-Mar-18 315.00 6-Mar-18
80 81
AUTONOMOUS AUTONOMOUS
614,750.00 122.42
359.50 6-Mar-18 314.00 6-Mar-18
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114
INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO AUTONOMOUS
100,000.00 1,000.00 1,025.83 4,600.00 488.20 549.23 4,920.49 432,924.91 169.58 1,889.73 667.29 31.35 200.00 1,608.00 250.00 300,000.00 195.00 100.00 954.63 720.00 1,505.00 700.00 1,330.00 2,000.00 419.00 147.43 42,000.00 368.13 242.26 2,000.00 2,478.57 231,265.06 600.00
305.95 314.00 314.00 359.00 314.00 314.00 355.00 355.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 359.00 314.00 314.00 314.00 354.84 355.00 314.00
115 116
AUTONOMOUS AUTONOMOUS
601.28 610.25
117 118
AUTONOMOUS AUTONOMOUS
4,123.46 4,817.51
314.00 7-Mar-18 314.00 7-Mar-18
119 120
AUTONOMOUS AUTONOMOUS
122.71 122.71
314.00 7-Mar-18 314.00 7-Mar-18
121 122
AUTONOMOUS AUTONOMOUS
2,300.00 700.00
314.00 7-Mar-18 314.00 7-Mar-18
123 124
AUTONOMOUS AUTONOMOUS
6,547.56 3,615.15
314.00 7-Mar-18 314.00 7-Mar-18
125 126 127 128
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
557,500.00 12,038.00 4,000.00 87.29
359.50 320.00 359.00 314.00
7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18
129 130 131 132
AUTONOMOUS INTERBANK AUTONOMOUS IMTO
184.69 100,000.00 122.05 5,323.25
314.00 305.80 314.00 355.00
7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18
133 134 135 136
IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS
459,421.71 1,000.00 122.97 388.78
355.00 314.00 314.00 314.00
7-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18
137 138 139 140
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
250.00 55.80 9.97 65.00
314.00 314.00 314.00 314.00
8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18
141 142 143 144
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
215.00 300.00 400.00 415.00
314.00 314.00 314.00 314.00
8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18
6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18 6-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18 7-Mar-18
314.00 7-Mar-18 314.00 7-Mar-18
S/N 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159
SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO AUTONOMOUS
AMOUNT (US$) 2,500.00 1,281.00 270.53 716.53 474.00 500.00 555.01 935.00 1,035.00 315.00 522.00 206.63 3,645.99 319,200.13 100.00
160 161
AUTONOMOUS AUTONOMOUS
3,000.00 64.59
314.00 8-Mar-18 314.00 8-Mar-18
162 163
AUTONOMOUS AUTONOMOUS
241.06 458.77
314.00 8-Mar-18 314.00 8-Mar-18
164 165
AUTONOMOUS AUTONOMOUS
1,850.00 557,500.00
314.00 8-Mar-18 359.50 8-Mar-18
166 167
AUTONOMOUS AUTONOMOUS
15,000.00 100.00
314.00 8-Mar-18 314.00 8-Mar-18
168 169
AUTONOMOUS AUTONOMOUS
141.00 87.96
314.00 8-Mar-18 314.00 8-Mar-18
170 171
AUTONOMOUS AUTONOMOUS
300.00 137,375.00
314.00 8-Mar-18 314.00 8-Mar-18
172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198
AUTONOMOUS IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO AUTONOMOUS AUTONOMOUS
50,000.00 4,107.27 378,487.64 24.56 40.00 235.00 640.00 190,955.00 1,560.00 200.00 28,343.70 180.00 200.00 16,000.00 294,955.00 390.00 88.35 86.95 215.00 300.00 315.00 1,492.14 137.75 2,928.31 246,535.95 408,094.40 200.00
359.00 355.00 355.00 314.00 314.00 314.00 314.00 359.50 314.00 314.00 330.00 314.00 314.00 314.00 359.50 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 354.86 355.00 335.00 314.00
8-Mar-18 8-Mar-18 8-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18
199 200 201 202
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
3,000.00 137.75 2,430.00 1,391.16
314.00 314.00 314.00 314.00
9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18
203 204 205 206
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
413.25 625,000.00 11,383.38 214.92
314.00 325.00 314.00 314.00
9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18
207 208 209 210
AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS
700.00 168.59 100.00 614.05
314.00 314.00 314.00 314.00
9-Mar-18 9-Mar-18 9-Mar-18 9-Mar-18
211 212
IMTO IMTO
3,512.90 319,456.97
RATE 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 354.86 355.00 314.00
DATE 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18 8-Mar-18
355.00 9-Mar-18 355.00 9-Mar-18
Africa’s global bank
8/COVER
13.03.2018
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13.03.2018
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Lagos Land Use Charge Law: Legal or Illegal? Last week, residents of Lagos State woke up to the rather unsavoury news, that the Lagos State Land Use Charges which were already perceptibly high, would be further increased astronomically. What started as a mere rumour, became a reality when the Lagos State Lawmakers passed a law endorsing the increase with effect from April 14, 2018. In the wake of the accompanying public outcry, the NBA Ikeja Branch addressed a press conference and threatened a massive protest, if the government does not reverse the charges within 7 days. Some Lawyers have argued that NBA Ikeja Branch did not have the approval of the NBA National Executive Committee, to issue such threats. In a swift reaction however, the Lagos State Commissioner of Finance, Akinyemi Ashade and Richmond Idaeho demystify the provisions of the law and point out that the very 'minute' increase, would be to the effect that the poorer segments of the population would be considerably less impacted than the relatively wealthier segments, by the reviewed Land Use Charge law. But Richard Abdulahi and Abubakar Sani hold a contrary view. This is the Cross-Fire!
LUCL Will Have No Negative Impact on the Poor - Ashade
T
What is Land Use Charge? here must be very few people in Lagos today, who have not heard the term “Land Use Charge” (LUC). In contemporary lingo, Land Use Charge can be said to be “trending.” Unfortunately, it’s been trending for the wrong reasons, many of which I will attempt to clarify and correct in this write-up. Land Use Charge, is a tax that applies to properties in Lagos. It is an aggregated tax, that has combined three erstwhile separate taxes namely tenement rate, ground rent and neighbourhood improvement levy, respectively, into one. So instead of paying three different taxes, the tax payer pays just one consolidated tax. Land Use Charge is not new in Lagos, neither has it been arbitrarily introduced to the State. Rather, it emanated from a long process of deliberation, consultation and engagement, all of which typically precede law-making. Indeed, implementation of this particular tax, was sequel to the passage of the Land Use Charge Law of 2001 as promulgated by the Lagos State House of Assembly. Components of LUC: Estimated Value The law has therefore, been operational since 2001. Its stipulations are also fairly simple. It essentially applies to defined categories of properties, which are in turn required to pay taxes that vary in accordance with the categories. In calculating the Land Use Charge payable on a property, a simple formula is applied: the estimated value of the property is multiplied by the appropriate “charge rate” and further multiplied by the “relief rate”. While the estimated value of a property is self explanatory, I will explain each of the other two terms in more detail. Charge Rate The “charge rate” is a relatively small percentage charge that is applied to different categories of property, depending on their categorisation. A property that is occupied by the owner for instance, enjoys the lowest charge rate. A property that is used for industrial or manufacturing activity, is categorised as “industrial” and is charged higher than owner-occupied properties, but considerably lower than “commercial” properties. Commercial properties are those properties that are deemed to be fully utilised for commercial activity – a bank branch for instance. There are a few categories in- between.
Relief Rate There is also the “relief rate”, which refers to a discount on the calculated charge. I will address this in more detail shortly. Whereas the Land Use Charge Law of 2001 stipulated that reviews of the charges payable be made on a five-year basis, for some reason this did not happen. So in 2017 for instance, properties were paying charges based on rates that were last determined in 2001. Clearly, after 16 years, those charges had largely become obsolete. In addition, property valuation did not appear to always follow a uniform standard. There were often stark variations in property valuations that were inequitable. Furthermore, property enumeration did not appear to be proceeding as fast as it ought to, and a considerable chunk of properties were actually not paying this charge. These were some of the inefficiencies in the old Land Use Charge regime, that prompted the Lagos State House of Assembly to repeal the old law and promulgate a new one. In the course of today’s “trending” debate on Land Use Charge, some commentators have tried to create the impression that the Lagos State Government arbitrarily, without engaging or consulting different stakeholders, increased the Land Use Charge rates payable in Lagos. This is not true. The process of the review of the old law and promulgation of the new Land Use Charge Law by the Lagos State House of Assembly (LSHA), was elaborate and painstaking. We must remember that the LSHA which comprises democratically elected representatives of the people, is constitutionally vested with the responsibility of making laws for the State. As Finance Commissioner, I was invited several times to make presentations and clarifications to the ad hoc Committee of LSHA which oversaw the review. The draft legislation was rigorously interrogated and debated in the Assembly, not only at Committee level but over two separate hearings. Memoranda were invited from dozens of stakeholder groups, including civil society groups, community development associations, leadership of local government councils and local council development areas, etc. A well-publicised public hearing, was also held at which sundry stakeholders freely aired their views on the draft bill. I trust that the diverse views and opinions, must have considerably shaped the revised bill. The revised bill was eventually signed into law last February by His Excellency, Governor Ambode. The new Land Use Charge law, is different from the old law in some respects which I will detail hereunder. Differences between the Old and New
No, LUC is Dead On Arrival! - Sani
T Introduction
he business and legal community in Lagos State, is currently up in arms against the recently introduced Lagos Land Use Charge (Repeal and Re-Enactment) Law 2018. Ordinary property owners in the State, appear to be no less concerned, though their seeming silence (with the notable exception of residents of Victoria Island/Lekki axis), may simply be down to their relatively low media presence. Accordingly, their own angst at the charge, can safely be taken as a given. The government has sought to rationalise the law on at least three grounds: i. The alleged lack of clarity in the formula for self- assessment under the old regime, the now repealed Land Use Charge Law of 2001; ii. the purportedly obsolete rates under the old law having gone unreviewed, it is claimed, for over a decade, and finally, iii. the necessity for a robust legal framework to support reforms in the administration of the charge, ostensibly aimed at growing the State’s economy. The Land Use Charge (“LUC”), is touted as a tax payable on all real (or landed) property situated in Lagos State, subject to specified exceptions under the law, e.g., those owned or occupied by religious bodies or used exclusively as places of worship or religious education, public cemeteries/burial grounds, non-profit educational institutions, libraries and palaces of Chiefs and Obas. The law consolidates ground rent, tenement rate and neighbourhood improvement levy into a single Land Use Charge administered by the Lagos State Ministry of Finance. Lagos State Governor, Akinwunmi Ambode
Land Use Charge Law First, in the valuation of property, the new law prescribes that this should be done using prevailing market rates. While I admit that this has expectedly increased the charges that property owners are expected to pay, I should add that it has helped to standardise the Land Use Charge regime, eliminating the opacity that was associated with the older law, wherein calculation of property value was sometimes based on the whims and disposition of the assessor. It is important to remember too, that with the Land Use Charge regime not undergoing any review for 16 years, as at 2017 before the repeal of the old law, rates payable had become significantly obsolete. So when some people complain that their rates have gone up by 300 percent over last year’s rates, the truth is that the rates have actually gone up
for the first time since 2001. In adjusting the bill of a property owner from the N1,200 which he paid annually between 2002 and 2017 to N5,000 annually for instance, the new regime has simply tried to bring the charge up-to-date and in line with present day realities, regardless of the percentage increase. This is not to say, however, that the entire
“WHAT THIS MEANS, THEREFORE, IS THAT THE POORER SEGMENTS OF OUR POPULATION, WILL BE CONSIDERABLY LESS IMPACTED THAN THE RELATIVELY WEALTHIER SEGMENTS, BY THIS REVIEWED LAND USE CHARGE LAW”
Land Use Charge administration is working perfectly. It isn’t. Like all systems which employ human intermediaries, there are occasional errors especially where “Best of Judgement” has been employed, in determining the scope and size of a property and the exact use to which it is put. This typically happens where property enumerators are denied access to these properties. I would therefore, like to implore Lagosians to kindly avail our enumerators with as much cooperation as possible when they visit your properties. This is to help ensure that ultimately accurate variables, are used in determining the rates chargeable on each property. This is one of the reasons why His Excellency, Governor Ambode stated clearly at his engagement with the organised private sector recently, that the Government is open to negotiation. The
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Criticism of the Law As previously stated, the most articulate and strident criticism of the law, has come from the organised private sector, particularly the Nigerian Employers Consultative Council and the Ikeja Branch of the Nigeria Bar Association. Among actual property owners, those of Victoria Island and Lekki/ Ajah, have also come out strongly against the law. The thrust of their criticism, appears to be focused on the allegedly astronomical rate of increase in the charge, by as much as “400 per cent,” as alleged in a statement issued by the NBA. This was, however, confuted by the Lagos State Government, through its Commissioner for Information and Strategy, Mr. Kehinde Bamigbetan, who insisted that the seemingly high amounts charged in some notices, were simply arrears that had gone unpaid for several years, adding for good measure that the minimum charge payable was merely increased from N1,200 to N5,000.
Is the Law Valid? Beyond any perceived insensitivity on the part of the Government, in terms of the rate of increase of the charge payable under the new law, I believe that fundamental questions exist about the validity, vel non of the enabling law itself, if not in its entirety, but certainly aspects thereof. I will presently explain. Before going ahead, however, a few ground rules. The Land Use Charge Law, is evidently exproprietary in intent. That being the case, in AFOLABI v GOV. OF OYO STATE (1985) 2 NWLR pt. 9 pg. 734 @ 753H, the Supreme Court, per Aniagolu, JSC, has held that statutes which encroach on the rights of the subject, whether as regards the person or property, are construed as penal laws, fortissimo contra proferentes, that is, strictly in favour of the subject and against the interest of the law maker. Therefore, such statutes should be interpreted so as to respect such rights, and if there is any ambiguity, the construction which is in favour of the freedom of the individual, should be adopted. The Case of Tenement Rates – Who can collect them? As previously stated, the law purports to regulate the collection of tenement rates along with ground rent and so- called neighbourhood improvement levy, collectively tagged as land use charge or property tax. However, under the Constitution, only Local Governments are competent to assess privately owned houses or tenements, for the purpose of levying tenement rates thereon, as may be prescribed by the State House of Assembly: See Section 7(5) and Item 1(j) of the Fourth Schedule to the 1999 Constitution. This means that, both State and Local Governments have complementary functions, when it comes to tenement rates payable on privately owned homes: while Local Governments assess such houses (or tenements), State Houses of Assembly prescribe the rates to be levied thereon. If, as seems to be the case, the Lagos House of Assembly both assessed and prescribed the tenement rate captured in the all-inclusive LUC Rate prescribed under the law, it is obvious that this is a serious violation of the aforesaid constitutional provision. The Supreme Court made this clear in the famous locus classicus of ATT-GEN. OF BENDEL STATE v ATT-GEN. OF THE FED. (1981) 12 NSCC 134, where it held that under a Constitution conferring specific powers, a particular power must be conferred, otherwise it cannot be exercised. A second anomaly in the Law, is its provision that the administration of the Charge (presumably including its collection), is to be administered by the State Ministry of Finance. This runs foul of Item 2 of Part III of the Taxes and Levies (Approved List for Collection) Act Cap. T2 LFN 2010,
“IN THE CONTEXT OF THE LUC LAW, IT IS CLEAR THAT AS WELL- INTENTIONED AS THE LAW MIGHT BE, IT MAY SIMPLY BE DEAD ON ARRIVAL IF IT (OR AT LEAST THE TENEMENT RATE COMPONENT THEREOF), TURNS OUT TO BE ULTRA VIRES THE LAGOS STATE HOUSE OF ASSEMBLY” which expressly confers Local Governments with the responsibility of collecting tenement rates. To the extent that the LUC Law 2018 purports to confer that function on the Lagos State Ministry of Finance or any other body (including the Lagos Internal Revenue Service, L.I.R.S.), it is ultra vires the State House of Assembly, as it is inconsistent with Section 4(5) of the 1999 Constitution which provides that “If any law enacted by the House of Assembly of a State is inconsistent with any law validly made by the National Assembly, the law made by the National Assembly shall prevail, and that other law shall to the extent of the inconsistency be void.” Accordingly, unless the blue-pencil rule can be applied to save the law, it might fail the validity test in its entirety, simply on account of the inclusion of tenement rates in its purview. What is this rule?. The blue-pencil rule, is applied to sever a part of a legislation that is valid from the part that is invalid. A ‘blue pencil’, is rubbed over the part that is bad or invalid. If what remains, i.e., the part that is good can stand, then it is applied. But, if what remains cannot stand on its own, then the entire legislation is declared invalid: ATT-GEN OF ABIA STATE v ATT-GEN OF THE FED. (2002) 5 S.C.M. 1. This submission is valid, notwithstanding the provisions of Paragraph 3 and Items 12 & 22 of Part II of the Schedule to the Taxes and Levies (Approved List for Collection) Act (Amendment) Order 2015, which purports to empower State Governments to collect “Land Use Charges” and “Property Tax”, respectively. This is because, the amendment purportedly effected to the Taxes and Levies (Approved List for Collection) Act is ultra vires its maker, the erstwhile Minister of Finance, Mrs. Ngozi Okonji-Iweala, for the simple reason that it is merely an order, which is a subsidiary instrument: Section 37(1) of the Interpretation Act.
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LUCL WILL HAVE NO NEGATIVE IMPACT ON THE POOR - ASHADE
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Land Use Charge bills are on paper demand notices, not etched in stone. Property owners who find their bills contestable are encouraged to contact the Land Use Charge Office Help Desk at Alausa or indeed any of our offices spread across Lagos. There is a further provision for an Appeal Tribunal, should you be dissatisfied with your engagement with the Help Desk. In addition even though the law clearly stipulates that upon receiving a demand notice, payment must be made within 14 days, failure of which different penalties of up to 200 percent of the original bill begin to apply, the reality is that, the State Government is making key concessions in this area. We appreciate that the economic situation has impacted everyone significantly and that the increases are steeper for some property owners than others. Property owners who are unable to pay the full charge up front can engage the Land Use Charge officials, and jointly agree on a staggered payment plan. So, the argument that Government expects everyone to pay this charge in full upfront, regardless of your economic circumstances, is not correct. Exemption and Discounts The new Land Use Charge regime also has several “reliefs” or discounts, that are designed to cushion the impact of the charge on property owners. Pensioners who are aged 70 years and above and who live in their own houses, for instance, are not expected to pay Land Use Charge. Every property enjoys a general 40 percent discount on the calculated rate. Where a property owner goes ahead to pay his bill promptly upon receiving the demand notice, he enjoys an additional discount of 15 percent. A person living with disability and occupying his own property, enjoys a further discount of 5 percent. So, I can confidently say that, property owners need not be alarmed at what they may have heard or read regarding this new Land Use Charge regime. Land Use Charge does not seek to punish anyone. Where the charge is considered outrageous for instance, we have provided ample room for engagement with the Land Use Charge officials, for possible review. And of course, we recognise that the law has been made for us and not vice versa. In for instance, providing an option for property owners to stagger their payments, you will find that we are very disposed to implementing this law intelligently, and in such a manner that it does not portend an inordinate economic burden on our people. Currently, the State Government is working on a proposal to be submitted to the LSHA, for additional reliefs for widows and other vulnerable groups in the State. Very importantly, Land Use Charge is being implemented in an asymmetric manner. What this means is that it impacts considerably more on the wealthier property owners, than the less-wealthy. In our ongoing enumeration of properties in Lagos for instance, we realise that the vast majority of properties across the State – close to 75 percent, are valued below 10 million. A building that is valued at N20 million for instance, only pays N9,120 annually where it is occupied by its owner. If that building is being used commercially, it pays N91,200 annually. If on the other hand, it is partly occupied by the owner and partly used for commercial activities, then the annual charge is N30,720. It is a relatively small fraction of properties, that are valued between N10 million and N100 million, and even much smaller fractions for higher valuations. What this means, therefore, is that the poorer segments of our population will be considerably less impacted than the relatively wealthier segments, by this reviewed Land Use Charge law. I should also remind Lagosians, of the horrifying conditions of physical and social infrastructure across the State. From roads to drainages, from
power to bridges, from education to healthcare, the story is the same. Many of us are products of the public school system, but today on account of severe under-funding, there is such a lack of confidence in the public school system that everyone who can afford it, takes his child to a private school. This need not be so. Is it decent to have Lagosians spend 7 to 8 hours in traffic everyday? But this is what we have been condemned to, in the absence of a functional
NO, LUC IS DEAD ON ARRIVAL! - SANI The Supreme Court has held that, a subsidiary instrument is ineffectual for amending a substantive statute, as only a substantive statute is capable of amending another substantive statute: KUUSU v UDOM (1990) 1 NWLR pt. 127 pg. 421. See also PHOENIX MOTORS v N.P.F.M.B (1993) 1 NWLR pt.272 pg. 718 @ 728. It is clear that the LUC Law is purports to amend, albeit indirectly, the Taxes and Levies (Approved List for Collection) Act of 1998. I submit that, this is the only possible outcome from a combined reading of Item 59 of the Exclusive Legislative List and Item 7(a) of the Concurrent Legislative List of the
mass transit system and the inadequacies of our road and transportation infrastructure. Should we be relying on rickety “danfo” buses to convey human beings in the 21st century? It is against the backdrop of decades of under-investment in infrastructure, in the face of our rapidly exploding population, that we came to the realisation that we must embark on aggressive infrastructure renewal across Lagos, or brace up for total infrastructure collapse.
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1999 Constitution. Conclusion In the HON. MIN. OF JUSTICE & ATT-GEN. OF THE FED. v ATT-GEN OF LAGOS STATE (2013) All FWLR pt. 704 pg 1 @ 41D the Supreme Court held that: “The power of a State Government to legislate on a given matter, must be traceable to the body of the Constitution , either in the Exclusive Legislative List or the Concurrent Legislative or the Residual List, and any matter outside the ambit of the said constitutional provisions in null and void.” In the context of the LUC Law, it is clear that as well- intentioned as the law
might be, it may simply be dead on arrival if it (or at least the tenement rate component thereof), turns out to be ultra vires the Lagos State House of Assembly. I believe that, this is the irresistible conclusion to be drawn from a dispassionate analysis of relevant constitutional provisions and decisions of the apex court. Needless to say, protracted litigation challenging the validity of the law, is a very real prospect, given the bitterness of those ranged against it. Can this be averted? Perhaps, but only if the State Government eats humble pie and rethinks the law. Will it? Abubakar Sani, Legal Practitioner, Abuja
Internally generated revenue, is our best hope for redressing this humongous infrastructure deficit. Thankfully, the evidence of effort in this regard, stares us in the face everyday. From completed and ongoing construction works at Badagry, Epe, Ikorodu, Ajah, Abule- Egba, Ojodu, Pen Cinema in Agege, Airport Road, Oshodi, Oworoshonki and others, to the sundry road infrastructure projects planned in this year’s budget including the BRT lane from Oshodi to Abule Egba and the 8 Kilometre alternative road to be constructed to link VGC with Freedom Road in Lekki Phase One; from the enhanced security across the State, and the major streets which are all lit up at night, to the planned investments in education, healthcare and others, clearly the Ambode administration is putting your taxes to good use. Our pledge is that, even in the midst of our anxiety to work as frenetically as possible to deliver the infrastructure that Lagos requires, we will continue to engage Lagosians to ensure that the there is understanding, appreciation and buy-in by our people, and that implementation of our IGR regime remains as humane as possible. Akinyemi Ashade, Lagos State Commissioner of Finance.
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Yes, LUC Commendable – Idaeho
O
is leased out to private entities for revenue generation, it shall forfeit its exemption status as contemplated under the provisions of the Law. There is also room for partial relief to be granted by the Commissioner, for property occupied by a non-profit making organisation, property used solely for community games, sports, athletics or recreation for the benefit of the general public, and property used for charitable or benevolent purpose for the benefit of the general public and owned by non-profit making organisation.
Introduction
ur society today drives on taxes, apart from oil revenue, generated from businesses and individuals and this is critical to economic growth. Tax is a compulsory financial contribution, imposed by the State on individuals and corporates, in line with appropriate laws relating to the assets and income to which such persons are affected for the purpose of public benefit. It is a contribution to the commonwealth for social good. Some of the benefits of tax are income generation, income distribution, influences consumption pattern and checks accumulation of wealth. For there to be a proper tax system, there must be equity, certainty, convenience and administrative efficiency. The key to an effective tax system, is administrative efficiency. It is on this basis that the Lagos House of Assembly, recently passed a new property tax law to Provide for the Consolidation of Property and Land Based Charges and make Provisions for the Levying and Collection of Land Use Charge in the State and for connected purposes; otherwise cited as the Land Use Charge Law of Lagos State, 2018. The Governor, during the recent “Lagos Means Business”, summit held in Lagos on 6th March, 2018, explained the purport of the Land Use Charge. We have reviewed the law, and have provided our comments below on the key features of the law, and its implications. The Rationale for the Land Use Charge Law 2018 The new Land Use Charge of Lagos State, is a consolidation of ground rent, tenement rate, and neighbourhood improvement levy. It repeals the prior existing Land Use Charge Law, Land Rates Law and the Neighbourhood Improvement Charge Law. The rationale for repealing the Land Use Charge Law 2001, and re-enacting a new one, was for the purpose of addressing some basic challenges in the prior law, including: the lack of clarity on the Land Use Charge formula to support self- assessment; obsolete rates; poor administration of the Law amongst others. Thus, the new law was to provide for an efficient legal and regulatory framework to support the ongoing Land Use Charge administration reforms, with a view to growing the economy of the State. How is the Charges Assessed and Paid? The Land Use Charge is an annual property tax payable on all real properties in Lagos State, which becomes due from 1st January of each year. To this extent every land owner or occupier (a lessee) of a property (where the lease is for a term of not less than 10 years), is liable to pay the Land Use Charge. The assessment of the Land Use Charge is undertaken by the Commissioner for Finance, or his appointed agents/representatives (eg. Property Identification Officers, Professional Valuers etc), or consultants who shall be required to register with the Lagos State Valuation Office (sections 5, 6, and 7 of the Law). The law also empowers such officers to enter, inspect, survey, request for documents, take photographs and make copies of necessary documents for the purpose of carrying out the assessment. The computation of the Land Use Charge (“LUC”) payable on a property, is arrived at by multiplying the Market Value of the Property (“MV”) by the applicable Relief Rate (“RR”) and Annual Charge Rate (“CR”), using the prescribed formulae, which is: LUC = (Land Value + Building Development Value) x Relief Rate x Charge Rate. That is LUC = [(LA x LR) + (BA x BR x DR) x RR x CR]. Where LA is the area of the land parcel in square metres; LR is the average Market Value of a parcel of land in the neighbourhood, on a per square metre basis in Naira based on Market Value of the property; BA is the total developed floor area of building on the plot of land in square metres, or the total floor area of apartment unit in a building where the apartment has a separate ownership title; BR is the average construction value of medium quality buildings and improvements in the neighbourhood, on a per square metre basis in Naira based on the market value of the property; DR is the Depreciation Rate for the buildings and improvements of land which
Self-Assessment of Land Use Charge The concept of Self-assessment under the new law, basically implies that a property owner or occupier can compute the amount of Land Use Charge payable on her property by herself. The implication of this is that, such person may not need to apply the strict formulae for computation or wait to receive a demand notice on the property before making payment. The owner or occupier can calculate the Land Use Charge payable on her property, using reasonable and fair parameters, and make appropriate payment to the designated banks or electronically. accounts for the building being of higher or lower value than the average buildings in the neighbourhood and which also accounts for the degree of completion of construction of the building; RR is the rate of relief from tax (if any) applicable to the owner or occupier as determined by the Commissioner subject to review once every five years; and CR is the annual charge rate expressed as a percentage of the assessed Market Value of the property and which may, at the State Government’s discretion, vary between (a) owner- occupied and other property, (b) residential property and commercial (revenue-generating) property, (c) physically- challenged persons; and (d) persons who have been resident at the same location for at least 12 years, minor, retired owners and occupiers, on the one hand, and other owners and occupiers on the other. (Section 10 and the Schedule to the Law). It is imperative to note that, the Market Value (“MV”) of the property is the land value and the building value rates. MV is subject to review every 5 years, on the basis of information available to the professional valuers and consultants or in line with inflation rate as may be determined by the Commissioner. The Collecting Authorities of the Land Use Charge and the Beneficiaries It is important to stress that by virtue of sections 2 and 3 of the Law, the Land Use Charge is payable on all real properties within Lagos State, and the respective Local Government Authorities wherein the properties are situate are empowered, to collect the rate, as well as being the only body with the power to levy and collect tenement rates within their various jurisdictions, unless the Local Government delegates such powers, in writing, to the State. The revenue generated from Land Use Charge is shared between the State Government and all the 57 Local Government/Local Council Development Areas in the State, and for the overall benefit of the State. The administration of Land Use Charge is under the Lagos State Ministry of Finance. Annual Charge Rate Applicable to Eligible Property The Annual Charge Rate applicable to eligible property in Lagos State is as follows: (1) Owner-occupied residential property is 0.076% per annum of the assessed property value; (2) Owner-occupied pensioner’s property is exempted from Land Use Charge; (3) Lagos State Government property is exempted from Land Use Charge; (4) Industrial premises of manufacturing concerns is 0.256% per annum of the assessed property value; (5) Residential property (owner and third party) is 0.256% per annum of the assessed property value; (6) Residential property (without owner in residence) is 0.76% per annum of the assessed property value; (7) Commercial property (used by occupier for business purposes) is 0.76% per annum of the assessed property value; (8) Vacant property and open empty land is 0.076% per annum of the assessed property value. What are the Reliefs Available to Owners or Occupiers of Eligible Properties?
The reliefs to be afforded to owners and occupiers, are subject to the following considerations: (1) the status of the owner (age and retirement); (2) depreciation rate of the property; (3) whether the owner is physically challenged; (4) the length of time for which the owner has been resident in the property; and (5) the speed and efficiency with which the owner pays the Land Use Charge. The various forms of reliefs that are available to owners and occupiers of eligible properties include the following: (a) General relief of 40% (applicable to all property liable to pay Land Use Charge); and (b) Specific reliefs applicable to property owners and leases of 10 years and above for the following categories – (i) Pensioners (60 years and above) has 100% relief for owner-occupied property; (ii) Persons with disability are entitled to 10% relief for owner-occupied property; (iii) Aged persons (70 years and above) are entitled to 10% for owner-occupied property; (iv) Age of property, where property is 25 years and above, such property is entitled to 10% relief; (v) Long occupation by owners for 12 years and above, such persons are entitled to 5% relief; (vi) Federal and other State Government properties are entitled to 20% for non-revenue generating property; (vii) Partial relief under the Land Use Charge Law is 20% for non- profit-making organisations. A person can take advantage of these reliefs by making an application to the Commissioner for Finance, supported by relevant documentary evidence. In addition to the above reliefs, early payment of the Land Use Charge, within 15 days of the receipt of the Demand Notice, attracts a discount of 15% for the benefit of the payer. The above is however, subject to a minimum payment of N5,000 on any given property irrespective of any relief granted on the property. Properties Exempted from Payment of Land Use Charge The following category of property are exempted from Land Use Charge by virtue of section 12 of the Law: (1) Property owned and occupied by a religious body and used exclusively as a place of worship or religious education; (2) Public cemeteries and burial grounds; (3) Property used as a registered educational institution certified by the commissioner to be non-profit making; (4) Property used as public library or as a private library certified by the Commissioner to be non-profit making; (5) Any property specifically exempted by the Executive Governor by notice published in the State Official Gazette; and (6) All palaces of recognised Obas and Chiefs in the State, provided that if any of the exempted property
“THE NEW LAND USE CHARGE LAW 2018 IS A COMMENDABLE IMPROVEMENT ON THE PRIOR LAND USE CHARGE LAW 2001”
Offences and Penalties Sections 29, 30 and 31 of the law make provisions for offences and penalties, for failure to comply with the law. The sections provide that any person who: (1) Refuses or neglects to comply with any provision of the Law when required to do so by the Property Identification Officer or an Assessor; (2) Prevents, hinders, or obstructs any Property Identification Officer or an Assessor in the course of lawful duty; or (3) Removes, damages or destroys a Property Identification plaque on any Property or building; and any person who (4) incites another person to refuse to pay Land Use Charge; or (5) Incites or assists any person to misrepresent in any way the person’s chargeable property; commits an offence and shall be liable on summary conviction to a maximum fine of N250,000.00 or to a maximum term of imprisonment for a period of 3 months or both. Dispute Resolution Mechanisms The new Law establishes an Assessment Appeal Tribunal (“the Tribunal”) in each division of the State, to deal with all appeals with respect to the Land Use Charge and resolve any potential disputes. The Tribunal is headed by a Chairman who shall be a legal practitioner of not less than 15 years post-call experience. A person who is aggrieved with a demand notice on her property can appeal to the Tribunal under the following circumstances: (1) a decision that the property which the person owns is a chargeable property, or that the person is liable to pay Land Use Charge in respect of such property; or (2) any calculation of an amount which the person is liable to pay as Land Use Charge. Where an appeal is made to the Tribunal, the Tribunal shall make such decision as it deems fit. See section 17 of the Law. There is also provision for mediation, wherein disputes arising from the provisions of the Law, can be resolved by the parties submitting to a confidential mediation. Where the dispute is not resolved by mediation within 45 working days of the first session or when the mediator declares an impasse, the mediation shall be deemed inconclusive and the parties shall be at liberty to resolve their dispute formally at the Tribunal or through any other lawful means. See section 25 of the Law. A Quick Comparison Between the Old and New Laws A juxtaposition of the new law and the prior Land Use Charge Law of 2001, will reveal that there were no adequately defined formulae for computation of the Land Use Charge payable on a property in the old law, which resulted in so much subjectivity in the computation processes. Also, there was no room for self-assessment in the old law, as owners and occupiers could only make payment upon service of demand notices on them. In most cases, demand notices were not served timeously as a result of bureaucratic bottlenecks. There were also cases of loss of
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No, LUCL is Brazen and Unconstitutional – Abdulahi
T
Dislike of Taxes he power of Government to impose pecuniary burdens on citizens or residents by way of taxes, charges, fees or tolls, has always been complicated and highly flammable from time immemorial. This is so, because of the confiscatory nature of taxes and the basic notion that taxes implicitly expropriates the monetary rights of citizens. John Andrew Holmes once said: "If the Lord loveth a “cheerful giver”, how he must hate the taxpayer!" The mantra of “no taxation without representation” and the tea party movement in the United States of America, were precipitated by the revolt of citizens against the overbearing taxing powers of government. Closer home, the Aba Women Riot of 1929, is a clear testimony of the revolt of the masses, women in that instance, against the imperious taxing powers of Government. It is by reason of the flammable and confiscatory nature of taxes, that systems have been evolved to ensure that no one is taxed except as clearly prescribed by statute. That sentiment of no taxation without statutory prescription is well buttressed in the Court of Appeal case of AHMADU v GOV. KOGI STATE (2002) 3 NWLR (Pt. 755) 502 at 522 Para B-E, when Oduyemi JCA rehashed the principle thus: “The law in question is, in its nature, a law which imposes pecuniary burden and is under the rules of interpretation, subject to the rule of strict construction. It is a well settled rule of law, that all charges upon the subject must be imposed by clear and unambiguous language, because in some degree they operate as penalties....” Based on the foregoing, governments are extraordinarily prudent and careful in the imposition of taxes, having regard to the volatile nature of any form of imposition of pecuniary burden, call it taxes or charges or fees or fines, on persons. It is also against this background, that the decision of the Lagos State Government to enact the Lagos State Land Use Charge Law, 2018 and increase the land use charge (a fusion of all real property and tenement rates) in Lagos, can be described as not only insensitive, but also imprudent, having regard to the prevailing economic and political climate and the collisional conflict of the law with the constitution. Bearing in mind the volatile nature of tax imposition, the architects of the Nigerian constitutional framework, ingeniously established structures to guard against the arbitrary imposition of tax burdens, by ensuring that all the powers of any government or authority to impose any form of pecuniary burden on persons, is constitutionally derived. Thus, any tax provision or regulation which finds no basis from or is inconsistent with the taxing provisions of the Constitution is by Section 1(3) of the Constitution, null and void. LUCL 2018 v 1999 Constitution The question which therefore, agitates any keen legal mind or property owner, is whether the Lagos State Land Use Charge Law, 2018 is consistent with the taxing powers prescribed under the 1999 Constitution of the Federal Republic of Nigeria (as amended)? By the combined provisions of Section 7(5) of the Constitution and Paragraph 1(j) of Schedule 4 to the 1999 Constitution, it is the Local Government Councils, that are vested with the power to assess privately owned properties or tenements for the purpose of levying or collecting rates, as may be prescribed by the State House of Assembly. The said provisions of Section 7(5) of the Constitution and Paragraph 1(j) of Schedule 4 to the 1999 was subjected to judicial pronouncement by the Supreme Court in KNIGHT FRANK & RUTLEY NIGERIA v ATTORNEY-GENERAL OF KANO STATE (1998) 7 NWLR (Pt. 556) 1, where the Apex Court held in the leading judgement delivered by Uwais CJN (as he then was), that the Kano State Government acted ultra vires in the usurpation of the powers conferred on Local
YES, LUC COMMENDABLE – IDAEHO
Government Councils by the Constitution, the Appellant to prepare a valuation list of all rateable hereditaments for the purpose of collection of property rates in Kano State. In the more recent case of of Internal Revenue (Suit PHC/2842/2010), relying on the above decision of the Apex Court in Knight Frank & Rutley v AG Kano State (Supra), Grinaker LTA Limited challenged the constitutionality of certain aspects of the Rivers State Property Tax Law, which imposed property tax on private properties in Rivers State. The Rivers State High Court reiterated that only the appropriate Local Government Councils established under the Constitution, have the constitutional power to assess, levy and collect taxes on privately owned property and tenements in Nigeria. Envisaging this clear constitutional conflict, the framers of the Lagos State Land Use Charge Law, 2018, sought to circumspectly avoid a collision course with the provisions of Section 7(5) of the Constitution and Paragraph 1(j) of Schedule 4 to the Constitution, by disingenuously conferring the function of collection of the charge on the relevant Local Government Councils. Sections 2(2), 3 and 5 of the Land Use Charge Law, 2018 provides: "2(2). For the purpose of this law, each Local Government Area in the State shall be the collecting authority and it shall be the only body empowered to levy and collect Land Use Charge for its area of jurisdiction. 3. Each collecting Authority may delegate to the state, by a written agreement, its functions with respect to the assessment of privately owned houses or tenement for the purpose of levying and collection of such rate as may be prescribed under this law." However, a closer perusal of the provisions of the law, would readily reveal that although the above provisions appeared to have vested the function of collection of the charge on the Local Government Councils, the actual powers of assessment, demand and collection of the charge, invariably reside in the Commissioner for Finance or his agents. Sections 5 and 14 of the law provides: "5. The Commissioner for Finance shall undertake or cause to be undertaken an assessment of chargeable properties in such areas of the State as the Commissioner may designate. 14. (1) The Commissioner shall cause to be issued in each financial year a Land Use Charge Demand Notice with respect to every chargeable property that has been assessed in accordance with the provisions of the law." A proper application of the mischief rule of interpretation, would readily operate to clear this legislative smokescreen which attempts to shroud in secrecy such flagrant annexation of the powers of another tier of government by the State Government. Arguments have emerged from the State Government, to the effect that Section 2(3) of the Law makes provision for the delegation of the powers vested in the Local Governments to the State. It is this writer’s view that such argument is not only preposterous, but smirks of a deliberate misconception of the very elementary principle of law couched in the latin maxim delegatus non potest delegare which means, delegated power cannot be delegated. The jurisprudential underpinnings of the maxim as it relates to delegation of constitutionally conferred powers, is that the constitutional powers of Government are delegated by the people and except where the Constitution expressly allows for delegation, such as the powers of the Attorney-General under Sections 174 (2) or 211(2) of the Constitution, constitutional powers such as the powers of the Local Government in this case, cannot be delegated. The above position is buttressed by the dictum of Kutigi JSC (as he then was) in KNIGHT FRANK & RUTLEY NIGERIA v ATTORNEY-GENERAL OF KANO STATE (Supra) at page 24 thus: The Court of Appeal, must therefore, in my view, be right when it opined thus:
CONTINUED FROM PAGE 11
revenue to the State Government, due to non-service of demand notices as the demand notices were basis for payment of the Land Use Charge.
Critique and Conclusion The formulae for computation of the Land Use Charge appears to be cumbersome, as same could lead to arbitrary computations. The assessment of property may be made on the basis of comparative market value of the properties within the neighbourhood, rather than on the actual value of the particular property. This was usually a recurrent problem with the old law, which we fear may resurface with the new law. Also, the concept of depreciation rate may not serve any useful purpose, where assessment of eligible properties is made on the basis of Market Value of the property. In view of the fact that real estate usually appreciates than depreciate, the rate/percentage of reliefs for such property is rather minute. This is because, a property owner would be made
to pay more as the property ages, as a result of inflation and appreciated Market Value of the property, instead of paying less. Thus, the relief on the age of the property, appears to be self-defeating. The new Land Use Charge Law 2018, is a commendable improvement on the prior Land Use Charge Law 2001. It is anticipated that the provision for self-assessment will assist in encouraging compliance with the law, ensures prompt collections as well as possibly reduce revenue leakages. We hope that the dispute resolution mechanisms, will help foster quick resolutions of disputes and complaints over assessment of Land Use Charge. Whilst the developmental strides of the Lagos State Government is well commendable, we would also hope that the benefits of the new law will be felt by the entire State, as it is expected. Richmond Ekhosuehi Idaeho ACIArb, ABR, Philosopher and Legal Practitioner, Jackson, Etti and Edu, Victoria Island, Lagos.
Lagos State Commissioner for Finance, Akinyemi Ashade
“THE QUESTION WHICH THEREFORE, AGITATES ANY KEEN LEGAL MIND OR PROPERTY OWNER, IS WHETHER THE LAGOS STATE LAND USE CHARGE LAW, 2018 IS CONSISTENT WITH THE TAXING POWERS PRESCRIBED UNDER THE 1999 CONSTITUTION (AS AMENDED)?”
“... The State has no power to deal with the matter, and the Local Government Council cannot, even if it wants to, divest itself of those powers.” The Supreme Court has long established the principle in the case of A.-G., BENDEL STATE v A.G FEDERATION & ORS [1981] NSCC 314. In spite of the arguments canvassed in the case, that the Plaintiff (Bendel State) having collected its own allocation of revenue and taken benefit under the Act had waived its rights, the Apex Court held that, a State or individual cannot contract out of a constitutional provision embedded in public policy. The above decision was later reiterated by the Apex Court in the case of A.-G., ONDO STATE v A.-G., EKITI STATE (2001) 17 NWLR (Pt.743) 706 at 773, where Karibi-Whyte JSC held: “The ground on which learned Counsel to the Plaintiff is challenging the arrangement or agreement in respect of property not covered by section 7(1), is on the proposition that Governments have no capacity to contract out of their constitutional rights...There is no doubt Chief FRA Williams, SAN, learned Counsel to the Plaintiff has stated the proposition correctly that parties cannot contract out of their constitutional rights, that is clearly not permissible, and in my opinion, not subject matter for argument between the parties.” In all of the decisions, the Apex Court has been consistent in its holding that a constitutionally vested right or power of a public nature, such as in this situation, cannot be delegated or waived without express provision to that effect. In MENANKAYA v MENANKAYA (2001) 16 NWLR (PT. 738) 203 AT 263, the Supreme Court once again pronounced on the nature of the powers which a party cannot contract out of and held: “When therefore, it is argued that a statutory provision has been waived, it has to be considered whether ...the statutory provision confers rights of a public nature as a matter of public policy .... the provisions of such statute cannot be waived as no one is permitted to contract out of or waive a rule of public or constitutional policy.” It is thus, from the crucibles of the above decisions that it can be clearly seen that the disingenuous contrivance of the Lagos State Government, to escape from the supererogatory effect of the provisions of the Constitution which exclusively vested the power of assessment and collection of privately owned property tax on the Local Government by allowing for delegation by contract, will not avail, as the Local Government Councils cannot by agreement, contract out of their constitutionally vested powers. Richard Abdulahi, Senior Counsel, Olatunde Adejuyigbe & Co., Ikeja, Lagos
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LEGALLY ENGAGED: AIMING TO RAISE EMPLOYABILITY OF YOUNG LAWYERS
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Yimika Adesola
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Legally Engaged: Aiming to Raise Employability of Young Lawyers In the past decade and half, one of the prevalent complaints about the Nigerian legal profession by Senior Legal Practitioners, is the quality of Lawyers that are being admitted into the profession annually. For the new wigs, the greatest concern, is their employability skills and tools, that should make them find their places in the profession and earn reasonable wages. Now, these challenges are fast being addressed, with the arrival of the ‘Legally Engaged Initiative’ (LE) founded by Yimika Adesola. The young and clever Lawyer, who has also been blessed with foresight, told Onikepo Braithwaite about what inspired her to start LE, which has, in just a few months, raised the hopes of many young Nigerian Lawyers, who have benefited through its mentorship, internship and job placement programmes
W
hat exactly is the Legally Engaged Initiative about? What are its key features? Legally Engaged, is a career centre for law students and young lawyers. Legally Engaged has three divisions – an online editorial, a training academy and a placement centre. Online Editorial We provide insight into the practice of law in Nigeria and ancillary issues, via our online editorial. We provide information on practice areas; day-to-day tasks of Lawyers practicing in different sectors; study tips and tips for selecting courses at University; extracurricular activities; internship opportunities and how to maximise them; commercial awareness; LLM degrees and other postgraduate programmes; and alternative career options for young Lawyers in Nigeria. We interview young Nigerian Lawyers working in different sectors of the global economy, including traditional legal practice, the academia, corporate organisations, and the public sector. We ask them about working hours, daily tasks, remuneration and challenges, among many others. The interviews seek to expose law students to the different types of careers they can pursue with a law degree, and what to expect when they go down these paths. Training The budding training centre, seeks to improve the employability of students and graduates, by preparing them for the workplace. We run a variety of short courses, aimed at equipping students and graduates with the necessary soft and technical skills required to succeed in different professional capacities. This begins with preparation for entry into the job market. We do this by teaching them how to prepare CVs and cover letters, and proper interviewing technique. The idea is to train them in areas such as basic
letter writing and email etiquette, managing office relationships, using certain office software typically found in a law office, etc. We have realised that, having a firm grasp of these skills can go a long way in influencing the trajectory of a young Lawyer. Placement Our placement centre which is, still in its early stages, provides a platform to place these law graduates in law firms across Nigeria. The quality of the candidates we provide, is enhanced by our access to the brightest law students and graduates in the country, through our other divisions. The Legally Engaged Mentorship Programme The Legally Engaged Mentorship Programme (LEMP), is a programme aimed at connecting law students and young Lawyers, with successful legal practitioners who can provide them with information and guidance on a one-on-one basis. We believe that the journey into the profession, is a smoother one with the insight of someone who has already travelled the road. LEMP is currently in its second six- month cycle, catering to almost 100 law students and young lawyers across the country. Why did you establish Legally Engaged? The idea of a career centre came to me while I was studying for the Bar examinations at the Nigerian Law School. Our overall mission is to demystify the legal profession in Nigeria, with a view
Yimika Adesola to grooming better informed Lawyers, who are able to maximise potential at an early stage. Like everyone who passes through the Nigerian Law School, I was focused on the Bar examinations, and coming through unscathed, but beyond that, I wanted more. I wanted to know what lay in store for me after the examinations – what type of law I will practice, what firms I could work with, what areas of law these firms practice in, what their hiring policies are, whether they offer internships, their remuneration packages, what should I look for in a law firm, etc. I had so many questions, and it was deeply disappointing that I was unable to get this information from a reliable source in the 21st century. In addition, a lot of law firms and senior Lawyers, complain about the employability of the Lawyers that have gone through the legal education system in Nigeria. These students are bright, at least as far as academics go, but have not been exposed to the conditions outside of a classroom that will make them great Lawyers. You hear of instances, where a law graduate cannot construct a proper email to a
“THE LEGALLY ENGAGED MENTORSHIP PROGRAMME (LEMP), IS A PROGRAMME AIMED AT CONNECTING LAW STUDENTS AND YOUNG LAWYERS, WITH SUCCESSFUL LEGAL PRACTITIONERS WHO CAN PROVIDE THEM WITH INFORMATION AND GUIDANCE ON A ONE-ON-ONE BASIS”
foreign counsel, or engage a potential client in a conversation outside legalese. This lack of information and proper training and exposure, in my view, results in thousands of Lawyers entering the profession each year without a thorough understanding of the options available to them, and the standards required of them in the profession. Legally Engaged was established to fill this information and training vacuum. How will the Initiative be of benefit to its users? Do you actually secure employment for Young Lawyers? How successful have you been so far? Legally Engaged is extremely beneficial to its users, and even to law firms and senior Lawyers, if they are willing to fully engage the features we offer. Legally Engaged provides users with a broader view of the legal profession. If one was to go by legal education alone, one might think that litigation and “corporate” are the only options available to a new wig. Legally Engaged, through its various initiatives exposes aspirants to the Bar, to an array of career paths available to them upon their call to the Bar. But beyond a presentation of choice, Legally Engaged also gives practical insight into the way that the profession and law firms really work from the inside, and how young Lawyers can maximise and/or navigate the peculiarities to reach the peak of their careers Additionally, the mentorship programme, provides a young Lawyer with the opportunity to expand his/her network and rub minds with his/her contemporaries CONTINUED ON PAGE 15
13.03.2018
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LEGALLY ENGAGED: AIMING TO RAISE EMPLOYABILITY OF YOUNG LAWYERS and seniors at the Bar. Such networking opportunities are invaluable. As regards placement, Legally Engaged has ties and has built relationships with the Nigerian Law School, a majority of the law faculties in Nigeria, and with Lawyers on the NYSC scheme in different parts of the country. We have direct access to resumes of some of the brightest Lawyers in the country. Also, the fact that these individuals have engaged us for training and development, is, at first glance, evidence of the fact that beyond being academically sound, they take their employability seriously. When we harness this network with our strong online presence and growing relationships with law firms, we are able to take some of the human resource management burden off practicing Lawyers, by placing undergraduate interns, graduate interns and young Lawyers in law firms and other organisations. We have been successful in the past, and hope to continue to work with all stakeholders to secure employment for young Lawyers. We understand that Legally Engaged is poised to launch Nigeria’s first Firm and Chambers Directory. Why did you feel a need to do this compilation? Does it extend to all parts of the country or just Lagos? As I mentioned earlier, the entire premise of LE, is to provide access to information we believe should already be available. Speaking to law students, we find that majority of them do not even know the law firms that exist, until they get to the Nigerian Law School and begin to seriously consider life after education. Even at that, they usually only hear about the “big” firms and limit their applications to them. Furthermore, even when they get to know about these firms, the firms very often seem so far off, and they are unsure of how to approach them. The directory seeks to provide information on and insight into various firms – their size, practice areas, entry requirements, recruitment policy, etc. We are certain that this will dramatically close the information gap, and make the recruitment process easier for both Lawyers and law firms. The directory will feature chambers and law firms from across the country. Concerned citizens have continued to bemoan the exorbitant fees at the Nigerian Law School. This has made it practically impossible for indigent students to attend Law School and be called to the Bar. What advice and support can such Law graduates get from your organisation? Unfortunately, this issue is prevalent around the world; Law is increasingly being seen as a profession for the elite, and overseas, the process of qualifying as a legal practitioner can cost a young individual thousands of dollars. I believe that the long-term solutions lie in the hands of the government, the Nigerian Bar Association, and Lawyers/ law firms. Prospective students, should have access to scholarships and low-interest loans. The bigger law firms should also consider footing the law school bill of future employees, as is obtainable abroad. Pending any long term-changes, I would advice law students, to continue to consider raising funds internally - from personal savings and from family and friends. Recently, a young female Lawyer was not called to the Bar, because she refused to discard her ‘hijab’ for the ceremony. What is your opinion about what transpired? That was a fairly interesting incident that caused quite the firestorm, but I think it is judicious to first note that, a lot of what we know about the incident is based on hearsay. That being said, I think the issue is one that the Nigerian Bar Association and Body of Benchers, need to pay more attention to. The incident manifestly shows that there is a need for clear and codified laws, as regards the dealings of aspirants to the Bar. Nevertheless, as it stands, the Body of Benchers arguably laid down rules and regulations regarding the Call to Bar ceremony; they found that she had violated those rules, and unfortunately did not admit her into the profession as a result. The Nigerian legal profession is still
so deeply fixated in the mindset of litigation and wig and gown. Given the general global trend where Lawyers in other jurisdictions have since embraced other aspects of practice which are non- litigation based, what direction do you believe that young Nigerian Lawyers should go? In my experience, the interest of a lot of young Lawyers in Nigeria, is actually already shifting from litigation to what they perceive to be greener pastures of corporate/ commercial law. We receive a lot of emails and messages from aspiring Lawyers telling us their dream is to be “a successful corporate Lawyer, working in a top-tier law firm”. A lot have even categorically told us, that they have no interest in litigation and perceive it to be a waste of time, because of the court system or that they perceive it to be “old school”. It is difficult to prescribe a specific or even general direction that young Nigerian Lawyers should be moving in, because passion, interest and natural flair, should still come into play here. That said, there is value in exposing one’s mind to the direction in which the global economy is moving, so that one does not end up with brilliant but obsolete skills. It is also important, that young Lawyers examine the real reasons why they have chosen a particular practice area. I do not believe that perceived glamour, status or pecuniary benefits in themselves, are good enough reasons to embrace a particular aspect of practice. As a young Lawyer, do you think that there should be mandatory pupillage for new wigs? Some have suggested a minimum of 2 years with a senior. I do not believe that the mandatory two-year pupillage as proposed, is in the best interest of new wigs. Firstly, in my opinion, legal education takes too long in Nigeria. To my mind, there is no justification for taking six years to achieve what our counterparts around the world achieve in as little as two years. Consequently, I believe that it is unfair, to then subject new wigs to an additional two years of ‘pupilage’. The journey to becoming a Lawyer does not need to take almost a decade! Secondly, regardless of the length of legal education, it is difficult to comprehend what a mandatory two-year pupillage will accomplish, that cannot be accomplished with the National Youth Service Corps. Perhaps, the Nigerian Bar Association should liaise with the NYSC, to ensure that Lawyers on the scheme are posted to law
CONTINUED FROM PAGE 14
“WHEN WE HARNESS THIS NETWORK, WITH OUR STRONG ONLINE PRESENCE AND GROWING RELATIONSHIPS WITH LAW FIRMS, WE ARE ABLE TO TAKE SOME OF THE HUMAN RESOURCE MANAGEMENT BURDEN OFF PRACTICING LAWYERS, BY PLACING UNDERGRADUATE INTERNS, GRADUATE INTERNS, AND YOUNG LAWYERS IN LAW FIRMS AND OTHER ORGANISATIONS”
firms, chambers and other organisations, where they can understudy an experienced legal practitioner. Finally, I have to echo the concern of many young Lawyers as to how, and even if, these pupils will be remunerated. Many qualified Lawyers in full salaried employment, are being paid what is quite frankly a pittance. So, one would shudder to think what new wigs will be paid and how they will be treated under a programme that is labelled a “pupillage”. In essence, I think the idea of a mandatory pupillage on paper might be well- intentioned, but there is still a lot to consider, otherwise, the practicalities of the climate of the profession in Nigeria, may frustrate the intended benefits. It is often said that Nigerian law graduates are unemployable. To what extent do you believe this is true? How do you think Legally Engaged can work alongside law firms, senior lawyers and other stakeholders to remedy this problem? Working with many young Lawyers and aspiring Lawyers, I find that the issue of employability or otherwise, is largely an individual matter. The degree to which an individual is employable, would primarily depend on how much exposure he has
had to the ‘system’. I am of the view that where we have identified an employability problem, we need to begin to work towards a solution; something beyond writing articles, holding seminars and setting up committees. At Legally Engaged, for instance, we saw an employability problem within the Nigerian legal profession and decided to do something about it. I believe that, if more people had a solution-minded approach, we would begin to see substantial change in the quality of our graduates. Like it takes a village to raise a child, it takes the entire legal profession to groom young Lawyers. Legally Engaged cannot successfully achieve what it seeks to achieve, without the buy-in of experienced legal and human resource professionals. Thankfully, many Lawyers already see the enormous value in what we do, and partner with us. Nevertheless, it is time for law firms and institutions, to put their money where their mouth is. They need to begin to take real responsibility, for the individuals who are handling their client matters and representing their brand. Legally Engaged can work alongside these law firms, law faculties and various other stakeholders, to ensure that young Lawyers are constantly developing the kind of skills that turn clever Lawyers into bankable Lawyers. We are constantly on the lookout for experienced Lawyers who are willing to impart their knowledge, legal and otherwise, into upcoming lawyers through articles, training sessions and one-on-one mentoring. If you could change one thing about the legal profession in Nigeria, especially as it affects young Lawyers, what would it be, and why? At the risk of over flogging a sensational topic, I would propose a thorough overhaul of the legal education system, particularly, the Nigerian Law School. It is my understanding that, the Nigerian Law School exists to provide practical insight into the practice of law, and expose students to the issues they will face in practice. However, the Nigerian Law School, while it has made commendable strides, still manages to be extremely theoretical. In the first instance, anything that is taught in a ‘classroom’ of over 1,000 students can only be theoretical. It is impossible for all 1,000 of them, to actually try their hands on drafting, for instance, fully grasp it, and receive practical feedback from their lecturers. Also, students are still required to commit a lot of mundane information to memory – information they will almost never have to recall from memory in practice. In advanced jurisdictions, law students are permitted to take authorised copies of legislation with them into the exam hall. There is a global trend towards recognising that the value of a Lawyer, cannot be in their ability to memorise and ‘cram’ substantial amounts of legalese. In an age of information overload, where the documents and advice that a Lawyer provides, can be accessed for free on the internet, the Lawyer that will stand out needs to be able to apply the law that he knows. In addition to being too theoretical, the Nigerian Law School also doesn’t seem to adapt to changing areas of practice. An increasing number of law firms in Nigeria, are practicing in areas such as intellectual property, capital markets, immigration, finance, oil and gas, etc., but this is not accounted for in the Nigerian Law School’s curriculum. What does the future hold for Legally Engaged? The ultimate goal for Legally Engaged, is to be what I have coined, the “Law Careers Bible”. We hope to establish ourselves as thought leaders and influencers, as far as legal education and the careers of Lawyers are concerned; Lawyers and law firms, will consult with Legally Engaged before taking major steps in their careers or in their recruitment drive. Beyond providing information and training, we also hope to influence policy, and be at the forefront of the making of decisions that affect the practice of law in Nigeria.
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13.03.2018
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Deepening the Economy with Backward Integration Jonathan Eze writes on Unilever Nigeria Plc’s ‘Partner to Win’ initiative, positing that greater use of local content and more extensive backward linkages could help Nigeria’s economic landscape Backward integration refers to the process in which a company purchases or internally produces segments of its supply chain. In other words, it is the acquisition of controlled subsidiaries aimed at the creation or production of certain inputs that could be utilised in the production. This backward movement is initiated to ensure supply along with securing bargaining leverage on vendors. Backward integration is a well-known competitive strategy. Through the control of more of its supply chain, an organisation can bring down the costs as well as guarantee access to key materials. Moreover, it can also manipulate competitors in an indirect manner through affecting how they access their raw materials. In certain cases, a number of companies might join hands for purchasing and controlling a supplier. Nigeria has experienced rapid but low-quality growth over the past decade. This has been accompanied by limited structural change and little economic transformation. The share of manufacturing in Nigeria’s gross domestic product (GDP) is low relative to that of other countries, and the country’s heavy reliance on oil and gas exports before now, meant that little attention had been paid to developing the manufacturing sector or diversifying into products that are more complex. That is why there is a clearer need for greater diversification of the economy to promote quality growth, economic transformation and employment. This can be aided by the development of value chains that facilitate higher-value added processing and manufacturing activities within Nigeria and make greater use of locally produced inputs and services in production through the creation of backward linkages. The latter can have positive effects in terms of stimulating economic development; promoting the development of local industries; creating economic linkages; building local capacity, capabilities and technologies; developing skills within the workforce; boosting employment; and minimising capital flight. Greater use of local content and more extensive backward linkages can help Nigeria economic landscape. There are benefits associated with backward integration. First is increased control. Through the process of integrating backward, companies can control their value chain in a more efficient manner. When retailers take the decision to develop or acquire a manufacturing business, they attain increased control over the production segment of the distribution phase. Another is cost control. Through backward integration, costs can be considerably controlled all along the distribution process. In the conventional distribution process, each phase of product movement includes mark-ups to enable the reseller to earn profit. By direct sale to end buyers, manufacturers are able to do away with the middleman through removal of one or more mark-up steps in the course. In other words, a single entity controlling the entire distribution process brings in enhanced capability leading to optimisation of resource utilisation. However, some companies adopt backward integration in order to block competitors from gaining any access to important markets or scarce resources. For instance, a retailer might purchase a manufacturing company and have access to proprietary technology as well as resources or patents that are solely available in the local area of the firm. Manufacturers Association of Nigeria (MAN) disclosed recently that investments in backward integration projects have boosted local content by 53.17 per cent. Investigation showed that companies like Unilever among others are taking the lead in backward integration especially with its support for the policy through its “Partner to Win� initiative. For Unilever, the ambition to strengthen its local supply chain is strong and must
Unilever MD, Yaw-Nsarkor be achieved. This belief is anchored on its inherent benefits. Partner to win is Unilever Nigeria’s initiative of attracting investors into the country and investing in capabilities of intermediary companies to enable them locally produce usable goods that will be sourced by the company as part of its raw materials inputs. The organization believes this will enable it achieve a significant reduction in the importation of raw materials by working with partners with localised manufacturing processes. Speaking on the economic benefits of aligning with the government on this strategy, Yaw said, “by working with our partners to source these materials locally, we are contributing to up-scaling their technical skills required for manufacturing raw materials inputs in Nigeria. We believe that our partnership with these investors will not only create jobs but also provide support that will enhance their technical know-how and skills.� The ability of the local suppliers to meet international standards for such materials and the possibility of locally produced goods being more expensive than imported goods are key challenges the company is facing. However, this is not a deterrent factor but an opportunity, which all stakeholders must seize to help create the competitive environment that will make local production more attractive to investors and enable them compete favourably in international markets. The Procurement Director, Unilever West Africa, Thomas Mwanza said, “Our motivation and commitment to operate sustainably is far superior to these challenges. We are working with relevant authorities and local investors to ensure their produce meet the required standard for our products.� The federal government designed the backward integration policy to deepen the economy and achieve robust growth. As it currently stands, imports are still the dominant source of inputs into food, beverages and tobacco in Nigeria, accounting for more than 70% of all
raw materials. The Economic Recovery and Growth Plan (ERGP) blueprint anticipates a strong backward-integration led growth in the agro-processing, food and manufacturing sector. However, industry players believe that there are some sectors where it makes a lot of sense to deepen backward integration. There are others where it is not appropriate. Having a blanket policy that applies to all is not practical. Backward integration policies must be nuanced by the circumstances of the sector. In particular, backward integration is appropriate where it is ‘comparative advantage following’ rather than ‘comparative advantage denying’. In practical terms, this means that, after the various investments have been made, the level of costs should be lower than the cost of importing. If they are not, it does not make sense to do backward integration. According to a report presented by SET Nigeria at the 23rd Nigeria Economic Summit, it stated that government appears to evaluate backward integration based on whether it creates jobs and boosts investment and value added in the sector. “These measures are important, but this approach is incomplete because it does not take into account the impact of local content policies on consumers. It is perfectly possible to find policies that boost investment and create jobs and that are value-subtracting at the national level because of their impact on consumers. These calculations can be done – and the government should avoid forms of backward integration policy that provide long-term benefits for a sector or a handful of firms while imposing much higher costs on consumers. “What is clear is that government has, to date, struggled to implement some local content policies effectively. This may reflect a lack of capacity and resources, particularly given Nigeria’s current difficult economic circumstances. Moreover, the high levels of informality in the Nigerian economy constitute
an implementation challenge. The high protection and cumbersome procedures at borders, making cross-border smuggling a profitable activity, challenge the effectiveness of many of these policies. “Thus, while government-appointed councils and boards in different sectors have endeavoured to play a coordination and facilitation role, much of the focus has been on tariff policy (and, to an extent, concessionary finance); the practical implementation of local content investments has been left to the private sector. This may be entirely appropriate: as the economics of local content suggests, one of the key market failures during the process of industrialisation are ‘coordination failures’. The private sector often has far greater capacity and resources than the public sector to coordinate the various investments and activities needed to create an effective supply chain It is true that the backward integration policy has gained more traction in the past few years. However, the government needs to do more to achieve the desired result of economic diversification and reduced importation of raw materials and goods. There is the need to take a critical look at areas like capacity building for local farmers, access to funding and rapid infrastructural development. It would be recalled that the Federal Government of Nigeria designed the backward integration policy to deepen the economy and achieve robust growth. Though imports are still high, accounting for up to 70% in the food, beverages and tobacco sector, but the Economic Recovery and Growth Plan (ERGP) blueprint anticipates a strong backwardintegration led growth in the agro-processing, food and manufacturing sector. It is therefore, believed that programmes, such as the Unilever ‘Partner to Win’ initiative among others will continue to drive and sustain the policy toward achieving a significant reduction in the importation of raw materials by working with local partners.
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T H I S D AY ˾ TUESDAY, MARCH 13 2018
PROPERTY & ENVIRONMENT Lagos Will Apply Human Face to Land Use Charge, Says Bamigbetan The Lagos State Government may review the land use charge downward on a case by case basis, the Commissioner for Information and Strategy, Kehinde Bamigbetan told Journalists recently. He gave a breakdown of the amount to be paid by owners of different house-types. Bennett Oghifo reports
H
omeowners in Lagos may receive a pleasant surprise from the Lagos State Government with a downward review of the land use charge (LUC), which has elicited condemnation from some professional bodies and community groups across the state. The Lagos State Commissioner for Information and Strategy, Kehinde Bamigbetan told Journalists at a briefing at the weekend that a lot could still be done before the government gazettes the LUC, urging property owners in the state to be calm. Bamigbetan said various channels were open to property owners who believe they have been overbilled to seek redress and that each case would be settled in the interest of all parties. The commissioner presented a ‘Scenario Analysis of Land Use Charge’, which gave the LUC formula as: (Land Value + Building Development Value) x Relief Rate x Charge Rate. For instance, a property owner, whose home has a
value of N15 million has 40 per cent general relief, and the assessable property value comes to N9 million. Now, the charged rate for Owneroccupied is 0.067%; Commercial is 0.760%; Owner Occupied + Commercial is 0.236%. Thus, owner occupied building with assessable property value of N9 million, will pay an annual LUC of N6,840 or N570 monthly; for Commercial owner in this category the annual LUC is N68,400 or N5,700 monthly; and Owner occupied + Commercial annual charge is N23,040 or N1,920 monthly. Bamigbetan did the same analysis for homes/buildings with real value based on what the government described as ‘The Blue Book’, which split Lagos into 3,000 Valuation Districts. However, each home/building is given an initial reprieve of 40 per cent after which the ‘Assessable Property Value’ is arrived at. The single largest amount to be paid, according to the Scenario analysis, is by owners of ‘commercial only’ property of N200 million as the real value and N120 million as its Assessable Property Value.
NIESV Unveils property site The Nigerian Institution of Estate Surveyors and Valuers has launched a website where accredited practitioners can transact in real estate products with their clients nationwide. The Institution said in a statement that the website was designed to promote credibility in the profession, and that it was an initiative of the institution’s Faculty of Estate Agency and Marketing, a business division of NIESV. “The Multiple Listing Service (MLS) platform site would connect property buyers and sellers and checkmate incidences of quacks and lack of credibility in real estate transaction, said Emeka Eleh, a former president of the institution, who chaired the launch event. He described the initiative as worthwhile noting that it is something that members have been expecting for a longtime. He lauded the faculty of Estate Agency and Marketing, a business division of NIESV for berthing the dream. Speaking on the initiative, the chairman of faculty of Estate Agency and Marketing, Pastor Sam Eboigbe pointed out that the website is for NIESV members nationwide to advertise lands, and property in Nigeria and abroad stressing that the scheme would redeem the already bastardised name and promote easy identification of the core professionals who will render
truthful service. “We have decided to do things more professionally, efficiently to ensure that we serve our clients all over Nigeria. Here you are dealing with professionals who are regulated by law. If you engage with us directly, you won’t pay us fees. About 400 members are already registered on the platform. It will be beneficial to our clients and our members. We have codes to follow on the platform and if you don’t follow the codes, you will be disqualified”, he stated. Chief Executive Officer of Corporate Shepherds Limited, Idorenyen Enang, in a lecture, condemned the activities of quacks in the profession which he said “has made it difficult to differentiate between the professionals and those who are not supposed to be in the trade.” He stated that what needs to be done at the moment is to identify and establish brand positioning as well as brainstorm on ideas and technologies that would turn the fortune of the business around. Enang who spoke on the topic; “Business Frontiers in the Real Estate Industry”, he urged practitioners to invest in training and infrastructural development as the profession is becoming fluid due to influx of quacks and foreign investors into the sector.
Ambode
The owner of such property is expected to pay an annual LUC of N912,000 or N76,000 monthly. He said there are other discounts offered certain categories of home/building owners, particularly retirees, senior citizens, physically challenged, widows, homes that were built 25 years ago, and over, among others. The government is seeking other ways of funding infrastructure and services other than using money from the bond market, which would put avoidable debt burden on future generations of Lagosians,
he said. The LUC structure is designed to protect the weak without necessarily putting stress on the strong, according to the commissioner. He said those shouting down the LUC should have taken advantage of the opportunity presented at the Public Hearing at the Lagos State House of Assembly, but that they still have room to articulate and present their views before the LUC goes into gazette. Homeowners in Ikoyi and Victoria Island are particularly miffed by the LUC, saying they
suspect they are unduly taxed even when, in 19 years of civilian rule, their neighbourhood roads have been in terrible condition, no electricity and that they are deprived of public water. An aggrieved homeowner (who wants his identity protected) said, “The government collects 80 per cent of its taxes from us, but they leave us with bad roads but reconstruct roads on the mainland, and they forget that the foreign agencies that conduct the livability index of cities and countries stay in Ikoyi and Victoria Island when they come to do their assessments. You can imagine why they score Lagos low on the index.” The LUC did not go down well with residents of Lekki, whose association’s executive has instructed homeowners not to pay until further notice. According to their Chairman, Lekki Residents Association, Prof. Ajose, the LUC is “most unreasonable. Residents should not pay yet.” Also meeting this week to take its decision on the LUC is the Victoria Island and Ikoyi Environment and Security Trust (VIISET), formerly known
as VIRA. Regardless, a resident of Lekki and an Estate Surveyor and Valuer, Chief M.I. Okoro, Principal Partner of M. I Okoro and Associates, said “I support the review of the Land Use Charge. Why the noise making? The only area I quarrel about is that the government was not diplomatic in its introduction; they should have done enough sensitisation. The government took the people for granted.” However, Okoro said the government’s review of the LUC was in order because they had done a lot in infrastructural development that had triggered an appreciation of capital and rental value in the state. “Land that was sold at N1.5 million 15 years ago now sells for between N150 million and N200 million”, adding that rental value has also increased and that the rise was as a result of “massive infrastructure development in the state; Look at Lekki Phase 1 axis, particularly the LekkiIkoyi link bridge. Landlords are smiling to the bank because of the appreciation of capital and rental value.”
Niche PR Takes Stakeholders in Construction Industry to World of Asphalt 2018 FERMA, Federal Ministry of Power, Works and Housing, Osun State Ministry of Works and Transport and other stakeholders in the excavation, road, construction, research, equipment leasing, environment, mining and general contracting join other inter-
national institutions for World of Asphalt 2018 scheduled for March 6-10, 2018 at George Brown Convention Center, Houston, Texas, United States of America. Niche PR & Events, a Nigerian - based Public Relations Company is one of the
FG to Deliver 24 Units of Housing Project in Edo Adibe Emenyonu in Benin City Federal Government has declared its readiness to deliver 24 units of the National Housing Programme in Edo by December, this year. Mr. Daminabor Oko-Jaja, Zonal Director, Federal Ministry of Works, Power and Housing, disclosed this during a media tour of the housing project at Idumwu-Ehigie, Uhunmwode Local Government Area of Edo, near Benin city. He said the project, which construction started in March 2017, was well funded and have attained 80 per cent completion. He stressed that the project has 100 per cent local content with the design and supervision all from the ministry, while the contractors, suppliers and artisans are all locals. According to him, “Work commenced on the site on 23 of February 2017 with the site clearing. The
contractors commenced work effectively on March, 2017. “Presently, we have 14 contractors on site and the work is at various stages of completion. Four contractors have almost completed their projects so far. “The contractor handling the condominium has also done his work according to specification. He is presently at the first floor slab stage,” he said stated. The housing estate include 24 housing units, 14 units of 2 bedroom semi-detached bungalows and 8 units of 3 bed room semidetached bungalows. Others are 3 storey condominium block of 4 units of 1 bed room, 16 units of 2 bedroom and 4 units of 3 bedroom. Oko-Jaja said the project have also impacted positively on the community where the houses are located, and listed some of the beneficiaries as, contractors, suppliers, artisans and food vendors.
supporting organizations and will recruit participation, plan agenda, promote joint business partnership and manage needed logistics. *World of Asphalt Show & Conference and co-located AGG1 Aggregates Academy & Expo will bring together
Over 350 of the industry’s leading manufacturers and service providers in the aggregate, asphalt, pavement maintenance, and traffic safety industry sectors come together at World of Asphalt to showcase their latest products and technologies.
AdedijiElectedObafemiAwolowo University EDM President Oyebode David Adediji, fellow and past president of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), has emerged president of the Alumni Association of the Faculty of Environmental Design and Management (EDM), Obafemi Awolowo University, Ile-Ife, Osun State. The association was formally inaugurated last week at the sidelines of Alumni Reunion of the faculty under the chairmanship of the Vice-Chancellor, Professor Eyitope Ogunbodede, ably represented by the Deputy Vice-Chancellor (Administration), Professor Chris Ajila. Adediji, a man destined to be a leader has grown from being a distinguished scholar into a role model in the real estate profession. He is well positioned to chart a new course for the EDM Faculty through
resourcefulness and qualitative leadership. He holds a Bachelor degree of science in Estate Management emerging as the best graduating student of the Department in the University of Ife (now Obafemi Awolowo University) in 1979. He also holds a Master’s degree in Estate Management (Urban Land Appraisal), Reading University, United Kingdom in 1984. He is a member of many professional bodies such as: The Nigerian Institution of Estate Surveyors and Valuers (NIESV); Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON); International Real Estate Federation (FIABCI); African Real Estate Society (AFRES); Nigerian-South African Chamber of Commerce(NSACC) and Institute of Directors (IoD) Nigeria, among others.
T H I S D AY ˾ TUESDAY MARCH 13, 2018
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T H I S D AY ˞ ˜ MARCH 13, 2018
BUSINESS/MONEYGUIDE
Moody’s: Lower Capital Will Constrain Nigerian Banks’ Capacity to Expand Obinna Chima Analysts at Moody’s Investor Service have said that lower capital by Nigeria’s midsize banks will constrain the financial institution’s capacity to grow their business, harm their revenue and delay their capital recovery through profit retention. The rating agency stated this in a report released yesterday, after a recent report by the International Monetary Fund (IMF) showed that Nigeria’s Tier 1 banks’ capital ratio had declined to 10.8 per cent in September 2017 from 16.3 per cent in December 2016 and 17.1 per cent in 2013, and now at its lowest level in the past five years The report was titled: “Nigeria’s midsize banks’ declining capital is credit negative.�
Additionally, it stated that Nigeria’s midsize banks face greater risk of losing business to financial technology (fintech) companies because they tend to provide retail banking and payment services to individuals and small and midsize enterprises, a key entry target market for upcoming Nigerian fintechs. The Central Bank of Nigeria’s (CBN) Financial Stability Report as at June last year that was released recently, showed that the result of a stress test revealed the banking system’s capital vulnerability was driven by midsize banks’ weaker capital conditions. It added: “These trends are credit negative for Nigeria’s midsize banks because they limit their loss-absorption capacity against unexpected losses and will restrain their asset growth and revenue generation.
“A lower Tier 1 ratio indicates that the capital cushions of banks declined and were less able to absorb any unexpected credit losses amid Nigeria’s still-challenging operating environment.� In reaction to a recent CBN’s policy which limited the amount of dividend payout ratios for banks with non-performing loans and capital ratios beyond certain thresholds, Moody’s anticipated that most banks would retain a large portion of their profits this year and build up capital cushions, “although we believe profits will be small.� Also, the improving Nigerian economy (we expect economy to grow 3.3per cent this year), following a contraction in 2016 and a slower growth of 1.7 per cent in 2017, will ease the formation of new nonperforming loans in the next 12-18 months,� it stated.
CBN Injects Fresh $210m into Forex Market Nume Ekeghe The Central Bank of Nigeria (CBN), in its quest to guarantee the availability of forex for customers’ needs in various segments of the market, has injected another sum of $210 million into the inter-bank forex market. Figures obtained from the Bank yesterday indicate that the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of
$55 million. Customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million. The Bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, confirmed the figures and reassured the public that the Bank would continue to intervene in the interbank foreign exchange market in line with its desire to sustain liquidity in the market and maintain stability. He added
that the steps taken so far by the Bank in the management of forex was paying off, as reflected by reduction in the country’s import bills and accretion to its foreign reserves which stood at $46 billion as at Friday, March 9, 2018. The central bank had last Friday injected the sum of $355.43 million into the Retail Secondary Market Intervention Sales (SMIS). Meanwhile, the naira continued its stability in the forex market, exchanging at an average of N360/$1 in the BDC segment of the market yesterday.
Stanbic IBTC Launches Lab to Empower Start-ups Nume Ekeghe Stanbic IBTC has launched its ‘Blue Lab’, a facility that avails start-ups and SMEs the platform to incubate and actualise their dreams. The inauguration of the innovation platform took place in Lagos recently, with the Chief Executive, Stanbic IBTC Bank, Dr. Demola Sogunle, declaring that constant innovation was imperative to secure the future of any enterprise. He noted that new technologies alone will not guarantee future success, saying the ever-changing demands of today’s highly informed consumers make continuous innovation inevitable. Located at Yaba, the facility boasts of meeting and open areas where techprenuers could network, brainstorm, research and nurture innovation and ideas, under a setting that ensures
full concentration and support from Stanbic IBTC experts. Sogunle said: “As a member of the Standard Bank group with over 154 years of existence, it is clear that we are here for the long term. We are on a marathon, not a sprint. “And we understand the importance of Innovation in sustaining the tempo that is required to remain in business. This is why we have invested in the Stanbic IBTC Blue Lab, an innovation hub that will serve as an incubator for our young thinkers with great ideas. “It is a hub that will help to nurture the ideas that will re-write our future. The hub is part of our strategy to lead with innovation.� He further emphasised that a demonstration of the organisation’s commitment to harnessing innovation and technology to build communities is underscored
by its pervasiveness on several social media platforms; including Twitter, Facebook, LinkedIn and Instagram, as well as the establishment of an all-digital branch in Lagos, all designed to make financial products and services easily accessible to a wide array of clientele, including the youth. The Founder and Managing Director, Sankore Investments, Titi Odunfa-Adeoye, commended Stanbic IBTC for its foresight in championing the innovation revolution in Nigeria, adding that the bank showed uncommon interest in partnering with her organisation, which according to her facilitated the growth of Sankore. On his part, Managing Partner, Co-Creation Hub, Tunji Elesho, noted that the establishment of the innovation lab by Stanbic IBTC was not by happenstance.
Wema’s ‘ALAT’ Launches Quick Loans, Virtual Dollar Card Wema Bank Plc, through its ‘ALAT,’ a fully digital bank, has released two new features -quick short-term loans and a virtual dollar card for paying online internationally. ALAT Loans are accessible to all ALAT customers through the bank’s Android and iOS apps. A statement from the bank yesterday described the the ALAT Virtual dollar card as a non-physical, dollar-denominated debit card designed for online payments. “Like ALAT Loans,
the card is available to all the bank’s customers through its apps. In addition, customers of the bank can now connect other Nigerian bank accounts to their ALAT profile on the app. “This makes moving money around a lot easier for people who use multiple bank accounts. The feature is one of several ways ALAT users can fund their account. Other ways are through local and international bank cards, and by transfer,� the bank explained.
Speaking on the launch of the new features, the bank’s Chief Digital Officer, Mr. Dele Adeyinka expressed his team’s passion to make banking even easier for everyday people. “A bank should do more than just keep money safe. That’s the bare minimum. The way we see things at ALAT, that bare minimum is no longer acceptable. We believe that these new features will further show the world that banking can and should be relevant to people’s lifestyles,� he said.
Banking hall
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
AUGUST 2017 Broad Money (M2)
21,851,454.31
-- Narrow Money (M1)
9,890,813.10
---- Currency Outside Banks
1,523,239.91
---- Demand Deposits
8,367,573.19
-- Quasi Money
11,960,641.22
Net Foreign Assets (NFA)
9,732,990.89
Net Domestic Assets(NDA)
12,118,463.42
-- Net Domestic Credit (NDC)
26,821,446.81
---- Credit to Government (Net)
4,824,226.22
---- Memo: Credit to Govt. (Net) less FMA
7,834,536.74
---- Memo: Fed. and Mirror Accounts (FMA)
--3,010,310.52
---- Credit to Private Sector (CPS)
21,997,220.59
--Other Assets Net
--14,702,983.39
Reserve Money (Base Money)
5,486,804.65
--Currency in Circulation
1,868,735.07
--Banks Reserves
3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
Money Market Indicators (in Percentage) 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
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OPEC DAILY BASKET PRICE AS AT FRIDAY MARCH 9, 2018
The price of OPEC basket of fourteen crudes stood at $61.95 a barrel on Friday, compared with $61.85 the previous day, according to OPEC Secretariat calculations.. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna
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MARKET NEWS
Nigerian Stock Exchange Delists Seven-Up Bottling Company Plc Goddy Egene and Eromosele Abiodun The market capitalisation of Nigerian Stock Exchange (NSE) was reduced by N65.321 billion yesterday following the delisting of the shares of Seven-Up Bottling Company (SBC) Plc. The shares of SBC were delisted by NSE six years after its main rival, Nigerian
Bottling Company(NBC) Plc was delisted from the Nigerian bourse. The NSE had last month approved the voluntary delisting of SBC after receiving a takeover bid from its majority shareholder, Affelka S.A aimed at restructuring the soft drinks bottler. The majority shareholder made the takeover proposal last August after the company posted losses.
P R I C E S MAIN BOARD
F O R DEALS
Affelka held 73 per cent of the equity of SBC before it offered to completely buyout minority shares in SBC for a consideration of N112.70 per share. While the company received a “no objection� from the Securities and Exchange Commission (SEC), the minority shareholders were expected to approve the proposal on January 11, 2018. However, few days before courtordered meeting, Affelka raised
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
the offer price for the acquisition of the outstanding 171,542,574 to N125. The new offer price represented a premium most of the shareholders could not resist. Consequently, the Affelka had its way and bought out the minority shareholders. Under the scheme, shareholders were to be paid cash consideration of N125 per share as modified at the court ordered meeting.
T R A D E D MAIN BOARD
A S
According to the scheme “ share certificates representing the interest of the holders of the shares shall cease to be valid and that the scheme shares previously held in demutualised form shall be expunged from the respective record of the company’s shareholders maintained by the Central Securities Clearing System, CSCS. Also, upon the scheme becoming effective, the
O F
ordinary shares of the petitioner be delisted from the Daily Official List of the NSE ; or such incidental , consequential and /or supplementary orders as are necessary to ensure that the scheme be fully and effectively implemented.� Investment analysts at Afrinvest West Africa, had advised minority the shareholders of SBC to accept the tender offer from Affelka.
1 2 / 0 3 / 2 0 1 8 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
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MARKET NEWS
Zenith Bank Grows Profit by 37% to N178bn, Declares N1.45 Final Dividend Goddy Egene Zenith Bank Plc yesterday became the first bank to release its audited financial results for the year ended December 31, 2017. Despite a jump of 203 per cent provision for impairment loss on financial assets, Zenith Bank Plc recorded significant growth in profit and recommended higher dividend for shareholders. Zenith Bank Plc posted gross earnings of N745.189 billion in 2017, up 46 per
cent from N507.997 billion in 2016. Interest and other similar income grew 23 per cent from N384.557 billion to N474.628 billion, while net interest income settled at N257.991 billion, up from N240.179 billion in 2016. However, provision for impairment loss on financial assets soared from N32.350 billion to N98.227 billion in 2017. The huge provision is not unconnected with the bank’s exposure to 9 Mobile. The telecommunications firm is
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
indebted to the tune of $1.2 billion to a consortium of banks with Zenith Bank Plc having the highest of $262 million and N80 billion. Despite the huge provision, Zenith Bank Plc ended the year with a profit before tax of N203.461 billion, showing an increase of 29 per cent from N156.748 billion, while profit after tax grew faster by 37 per cent to N177.933 billion, compared to N129.652 billion in 2016. Based on the improved bottom-line, the board
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 9-Mar-2018, unless otherwise stated.
of directors of the bank has recommended a final dividend of N2.45 per share to bring the total dividend to N2.70, having paid an interim dividend of 25 kobo last year. The dividend is higher than the N1.02 paid the previous day. Commenting on the results, analysts at FBN Quest said final dividend of N2.45 per share is higher than their N1.77 forecast and implies a yield of 7.9 per cent.
“Despite the marked rise in provisions, we expect the broad positives in the results to be paid some attention, mainly the better-than expected non-interest income line. In addition, a N35 billion specific impairment taken on a gross loan portfolio of N95 billion for the Communications category appears sufficient to us as far as Zenith’s 9mobile exposure is concerned. Going forward, the key themes for the
banks in 2018 will be the implementation of IFRS 9 and the potential implications for cost-of-risk and Capital Adequacy Ratio (CAR). Although we expect a slight uptick in cost-of-risk, we believe that the impact will be modest for tier 1 banks like Zenith. Following the tightening of yields on government securities, we would like to see banks guiding to stronger loan growth for 2018 to compensate,� they said.
Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A 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 4.98% ACAP Income Funds 0.63 0.63 4.32% 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 15.85% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A 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 166.03 167.20 9.45% AXA Mansard Money Market Fund 1.00 1.00 15.53% 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 14.95% Paramount Equity Fund 12.97 13.30 4.91% Women's Investment Fund 103.11 105.75 2.46% 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 15.44% 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 15.31% Coronation Balanced Fund 1.11 1.13 5.73% Coronation Fixed Income Fund 1.09 1.12 5.55% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,184.75 1,185.91 3.21% FBN Heritage Fund 150.54 151.96 8.02% FBN Money Market Fund 100.00 100.00 15.20% FBN Nigeria Eurobond (USD) Fund - Institutional $114.54 $115.14 1.47% FBN Nigeria Eurobond (USD) Fund - Retail $114.51 $115.11 1.54% FBN Nigeria Smart Beta Equity Fund 186.53 189.56 15.69% 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 1.42 1.45 8.74% Legacy Debt Fund 2.95 2.95 2.54% 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 3,177.39 3,219.11 6.57% Coral Income Fund 2,536.95 2,536.95 3.70% 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 14.46% 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 15.00% Vantage Balanced Fund 2.20 2.23 4.51% Vantage Guaranteed Income Fund 1.00 1.00 17.95% Kedari Investment Fund (KIF) 117.84 118.20 2.46%
LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.17 1.19 1.45% Lotus Halal Fixed Income Fund 1,056.01 1,056.01 2.42% 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 16.95 17.12 20.31% Meristem Money Market Fund 10.00 10.00 14.19% 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 1.30 1.32 9.11% PACAM Fixed Income Fund 11.38 11.48 3.26% PACAM Money Market Fund 10.00 10.00 13.14% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 143.33 145.57 11.18% 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 1.53 1.53 3.05% 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 2,404.77 2,424.34 7.20% Stanbic IBTC Bond Fund 178.76 178.76 1.31% Stanbic IBTC Ethical Fund 1.12 1.13 11.39% Stanbic IBTC Guaranteed Investment Fund 228.27 228.37 3.66% Stanbic IBTC Iman Fund 195.55 197.79 9.20% Stanbic IBTC Money Market Fund 100.00 100.00 14.95% Stanbic IBTC Nigerian Equity Fund 10,616.04 10,762.31 9.80% Stanbic IBTC Dollar Fund (USD) 1.08 1.08 1.89% 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 13.47 13.68 7.44% Zenith Ethical Fund 14.16 14.33 7.37% Zenith Income Fund 19.59 19.59 3.55% Zenith Money Market Fund 1.00 1.00 13.40%
REITS NAV Per Share
Yield / T-Rtn
10.00 134.07
-11.35% 1.22%
Bid Price
Offer Price
Yield / T-Rtn
12.78 166.83 123.24
12.87 170.42 125.55
5.38% 16.82% 12.81%
Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund
EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund
VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund
funds@vetiva.com Bid Price
Offer Price
Yield / T-Rtn
5.65 9.95 19.80 23.46 154.25
5.69 10.03 19.90 23.66 155.78
19.19% 3.95% 11.45% 19.15% 3.64%
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.
33
TUESDAY MARCH 13, 2018 Ëž T H I S D AY
INTERNATIONAL
email:foreigndesk@thisdaylive.com
Fear of Humanitarian Crises Heighten in Syria US warns if Security Council doesn’t act on Syria, it will Thousands of families are sleeping in the open in the streets of the biggest town of Syria’s rebel-held eastern Ghouta enclave, where there is no longer any room in packed cellars to shelter from government bombardment, Reuters reported local authorities as saying. The army’s onslaught in eastern Ghouta, backed by air and artillery strikes, has killed about 1,160 people since Feb. 18, a war monitor said, as President Bashar al-Assad seeks to crush the last big rebel stronghold near the capital Damascus. Thousands of families have fled from the front lines to Douma, hoping to escape bombing. The opposition-controlled town council said on Monday the situation had become “catastrophic�, with no more room below ground for civilians to hide.
At least 70 people had been buried in a town park because air strikes made it unsafe to reach the cemetery on the outskirts, it said. In a video filmed inside Douma, one man cowering in a heavily damaged shelter said: “It is completely uninhabitable. It is not even safe to put chickens in. There is no bathroom, just one toilet, and there are 300 people.� Meanwhile, U.S. Ambassador to the United Nations Nikki Haley warned on Monday that if the U.N. Security Council fails to act on Syria, Washington “remains prepared to act if we must,� just as it did last year when it bombed a Syrian government air base over a deadly chemical weapons attack. “It is not the path we prefer, but it is a path we have demonstrated we will take, and we are prepared
to take again,� Haley told the 15-member Security Council. “When the international community consistently fails to act, there are times when states are compelled to take their own action.� Haley’s warning came as the United States asked the Security Council to demand an immediate 30-day ceasefire in Damascus and rebel-held eastern Ghouta, where Syrian President Bashar al-Assad’s forces, backed by Russia and Iran, say they are targeting “terrorist� groups which are shelling the capital. The Security Council demanded a 30-day ceasefire across Syria in a unanimously adopted Feb. 24 resolution. Russia had said the Security Council could not impose a ceasefire without a deal between the warring parties.
49 Dead in Nepal’s Worst Plane Crash in Decades Forty-nine people were killed when a Bangladeshi plane crashed and burst into flames near Kathmandu airport on Monday, in the worst aviation disaster to hit Nepal in nearly three decades, according to an AFP report on Monday. The news agency reported officials as saying that there were 71 people on board the US-Bangla Airlines plane from Dhaka when it crashed just east of the runway and skidded into a nearby football field. Rescuers cut apart the mangled and burned wreckage of the upturned aircraft to pull people out, while other passengers were found buried under debris that scattered as the plane hit the ground. “Forty people died at the spot and nine died at two hospitals in
Kathmandu,� police spokesman Manoj Neupane told AFP, adding another 22 were being treated in hospital, some in a critical condition. The cause of the crash was not immediately clear, but a statement from airport authorities said the plane was “out of control� as it came in to land. Meanwhile, the CEO of US-Bangla Airlines Imran Asif laid blame on Kathmandu’s air traffic control, saying the controller “fumbled� the landing “Our pilot is an instructor of this Bombardier aircraft. His flight hours are over 5,000 hours. There was a fumble from the control tower,� Asif told reporters outside the airline’s
offices in Dhaka. An airport source, who spoke on condition of anonymity, said there may have been confusion between air traffic control and the pilot over which end of Kathmandu’s sole runway -- referred to as ‘Runway 02’ and ‘Runway 20’ -- the plane was meant to land on. A recording purportedly of the conversation between the controller and pilot has been published online. AFP could not independently verify the recording. Eyewitnesses said the plane -- a Canadian-made Bombardier Dash 8 Q400 turboprop -- crashed as it made a second approach towards the airport, shuddering violently as it lost height before hitting the ground and bursting into flames.
Hubert de Givenchy, French Fashion Icon, Dies Aged 91 French fashion designer Hubert de Givenchy, who created famous looks for Audrey Hepburn, Grace Kelly and Jackie Kennedy, has died at the age of 91, BBC reported. His partner Philippe Venet, a former haute couture designer, confirmed the news to the AFP news agency. “It is with huge sadness that we inform you that Hubert Taffin de Givenchy has died,� he said via the fashion house. The designer’s nephews and nieces, and their children, share Mr Venet’s grief, his statement added. Givenchy was perhaps most
famous for creating the iconic “little black dress� worn by Audrey Hepburn in the opening scene of Breakfast at Tiffany’s. “It was... an enormous help to know that I looked the part... Then the rest wasn’t so tough anymore. Givenchy’s lovely simple clothes [gave me] the feeling of being whoever I played...,� Hepburn previously said of the designer. The friendship between Givenchy and Hepburn endured for 40 years, and helped cement his place in fashion - and cinema – history. She became his muse, and he
designed her suits and woollen dresses for the musical Funny Face in 1957, and the light-hearted heist caper How to Steal a Million in 1966. Givenchy came from an aristocratic background, and worked alongside the then unknown Pierre Balmain and Christian Dior after World War Two. He was employed by the avantgarde designer Elsa Schiaparelli before leaving to found his own fashion house in 1952. There he introduced the concept of “separates� - blouse, skirt, jacket and trouser combinations that could be mixed and matched.
US Could Lift Travel Ban on ‘Important Partner’ Chad – Tillerson U.S. Secretary of State Rex Tillerson said on Monday Washington was considering lifting a travel ban on Chad, offering an olive branch to a key ally in the fight against Islamist militant groups in West Africa, Reuters reported. The top U.S. diplomat
flew into the Chadian capital N’Djamena on the last day of a truncated tour of Africa with stop-offs in Kenya, Ethiopia, Djibouti and Nigeria - all frontline partners against Islamic State and al Qaeda off-shoots.
It was his first diplomatic visit to the continent where many are still smarting from U.S. President Donald Trump’s reported dismissal of states there as “shithole� countries in January. Trump later denied making the comment.
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34
TUESDAY MARCH 13, 2018 ˾ T H I S D AY
NEWS
News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081
Senate Cautions INEC on Misguided Pronouncements on Electoral Act Amendment Commission involved in 1,080 suits from 2015 polls Damilola Oyedele in Abuja The Senate yesterday cautioned the Independent National Electoral Commission (INEC) against paying attention to misguided statements and pronouncements questioning the powers of the National Assembly to legislate on the Electoral Act. The President of the Senate, Dr. Bukola Saraki said this while speaking at the public hearing on the bill to establish the National Electoral Offences Commission, where he weighed in on the controversy generated by the recent amendment to Section 25 of the Electoral Act. The hearing was conducted by the Senate Committee on INEC and Judiciary.
The National Assembly recently passed the amendment, which would see the National Assembly elections holding first, before elections into the state Houses of Assembly and governorship on a separate day, while the presidential election would be conducted last, to complete the general election cycle. Section 25 of the Principal Act was specifically amended and substituted with a new Section 25(1) which provides that the elections shall be held in the following order: (a) National Assembly elections (b) State Houses of Assembly and Governorship elections (c) Presidential election. The amendment has however caused controversy in the polity. INEC had initially said it would head to court to seek an
EFCC Grills Modu Sheriff, to Return Today Paul Obi in Abuja The Economic and Financial Crimes Commission (EFCC) yesterday grilled former Governor of Borno State, Senator Ali Modu Sheriff, over allegation of corruption and diversion of funds during the 2015 elections. Speaking with THISDAY, EFCC Head of Media and Publicity, Wilson Uwujaren, said: “He responded to an invite and was quizzed.” Though Uwujaren did not provide details, he however, added that Sheriff “is to return for further questioning tomorrow (today).” Sheriff’s invitation might not be unconnected with the probe of former Minister of Petroleum Resources, Mrs. Diezani AlisonMadueke 2015 election largess. Sheriff was alleged to have received N450 million from
Alison-Madueke as part of the funds for Borno State during the 2015 general election. He had previously been invited by the EFCC for interrogation on the matter His current visit may be a move by the commission to dig deeper in the $115 (N23) election funds scandal. Sheriff was governor of Borno State between 2003 and 2011 under the then All Nigerian Peoples Party (ANPP), and was a power broker in the state within the period. In 2015, Sheriff suddenly parted ways with the All Progressives Congress (APC) and defected to the Peoples Democratic Party (PDP). He was later appointed interim National Chairman of the PDP, plunging the party into crisis, which ended at the Supreme Court, with the court sacking him.
interpretation of Section 76 of the Constitution which provides that the elections shall be held on a date to be appointed by the electoral body. It, however, later stated that it would abide by the new election sequence provided by the amendment, which would result in the alteration of its already released 2019 elections time-table if the amendment is signed into law. INEC had already slated the presidential and National Assembly elections for February 16, 2019 while the state assemblies and governorship elections were slated for March 2, 2019. But Saraki at the hearing yesterday, maintained that the National Assembly has the mandate to exercise the power to legislate over the electoral body and other agencies of government. Represented by the Deputy Senate Leader, Senator Ibn Na’Allah, Saraki added that the National Assembly cannot be involved in any legislation that violates the constitution. “Of recent, there have been arguments on who has the power
to do what,” he said, adding that Nigeria has a lot of people who know how to go to court and get all kinds of judgments. “INEC should be cautious of who it is listening to. We would not stand by to see the Constitution violated. It is necessary that we caution ourselves, we need this country, we love this country,” Saraki said. Saraki also expressed concern over the fact that some aspirants and political parties were already campaigning, even though INEC has not given the green light for 2019 election campaigns. “The Senate, in particular, would be very worried if INEC begins to condone the actions of some political parties. You have not declared campaigns open and some are already campaigning,” Saraki said. He noted that INEC should be able to exercise its power to sanction such persons or parties. The Chairman of INEC, Prof. Mahmood Yakubu, in his presentation to the committee, disclosed that the electoral body
was currently engaged in lawsuits or had been joined as a party in at least 1,080 lawsuits arising from the 2015 general election. The commission, he said, has also received 124 case files of electoral offenders from the police and has so far prosecuted 60 of them, he disclosed further. Yakubu expressed support for the establishment of the Electoral Offences Commission, saying INEC cannot effectively prosecute electoral offenders and at the same time focus on its enormous responsibilities ranging from the registration and regulation of political parties to monitoring their congresses and finances, and at the same time conducting elections. Speaking on the Electoral Offences Commission Bill, the INEC boss said the appointment of the secretary of the proposed commission should be appointed by INEC itself, instead of being appointed by the president as being proposed in the legislation. He further cautioned against the heavy tilt towards the appointment of ex-officio members and advocated proper definition on
what constitutes electoral offences. Establishing the offences commission separately to take over prosecutorial duties of INEC, he said, would eventually reduce the cost of conducting elections in Nigeria. Speaking on behalf of civil society organisations, the Executive Director of Policy and Legal Advocacy Center (PLAC), Mr. Clement Nwankwo said the establishment of the commission was a view that had been advocated since the time of the electoral reform committee of Justice Mohammed Uwais. He, however, noted that the offences commission must be wholly independent and structured in a way to shield it from manipulation. “Impunity is an issue with the system. People do things and nothing happens. A commission that can hold people to account is good,” Nwankwo said. He recalled that in the course of monitoring the governorship elections in Edo and Anambra States, monies were openly distributed to voters to buy votes for candidates.
Shehu Sani Explains Why He Exposed N13.5m Senators’ Monthly Running Cost Damilola Oyedele with agency report The senator representing Kaduna Central in the National Assembly, Shehu Sani, has said he decided to reveal the actual running costs received monthly by senators because he wants such payments to be stopped. Speaking with the BBC, Sani said it was necessary to stop the N13.5 million monthly running costs to make the National Assembly attractive to only people who have ideas. He also accused the National Assembly of being one of the most non-transparent organs of government. “I decided to burst it open. It was a moral issue. The National Assembly is one of the most nontransparent organs of government. It pricked my conscience and I decided to burst the bubble and open the National Assembly to public scrutiny. “If the payment system was ended then parliament would
only be attractive to people who contribute ideas,” the senator said. Sani’s comments have attracted fresh controversy to the lawmakers, as he added that there is little accountability on the expenditure of the N13.5 million, which they receive in addition to the over N700,000 monthly consolidated salaries and allowances accruing to each senator. The Senate last Sunday however noted that there was nothing new about the revelation as the figures had already been made public in the 2017 N125 billion budget of the National Assembly, contained in various items and expenditure heads. Senate spokesman, Senator Aliyu Sabi Abdullahi in a statement said the N13.5 million includes appropriation for travelling, medicals, consultancy and others. “Almost all holders of elective and appointive offices have running costs allocated to their offices and that cannot be said to be part of their salaries,” Abdullahi said.
SYMPATHY VISIT INDEED
L-R: President Muhammadu Buhari; Benue State Governor, Samuel Ortom; Senator George Akume and Gen. Lawrence Onoja (rtd), shortly after his sympathy visit to Benue over recent killings in the state ....yesterday State House
Ganduje Calls for Devolution of Powers Ibrahim Shuaibu in Kano Kano State Governor, Dr. Abdullahi Umar Ganduje, yesterday reiterated the need for devolution of powers from the centre to various states and local governments in order to achieve good governance. Ganduje stated this in the state Government House while receiving the Kano 30-member Committee on True Federalism set up by the state government to project the views of the state in the on-going debate for true federalism and restructuring. “So we found it imperative to bring this issue so that it can be debated at national and regional level, and I am aware that the
Northern Governors’ Forum constituted a similar committee which has been working. We also have a similar committee at the party level. And now in our own case, we have it at the state level. “However, in democracy, it is a very important issue. It should not be an issue that somebody will be annoyed with, it is an issue that we should welcome because democracy is dynamic,” he said. According to him, “Along the way, we will see how we can refine the system. There is no doubt that the federal government, being an offshoot of the military, was brought by the military even though civilians were there, but it was off course,
under the guise of the federal government which by then, was a military government. “So, you can see that from time to time, we need to make adjustment in our constitution. There is no doubt that the federal government has the element of unitary system, because the military itself was a unitary system so the child that came from the military must also have some features of unitary system. “That was why the federal government became so bogus, and became so strong in terms of responsibilities and in terms of revenue of the country itselfso that this in itself needs to be
revisited. There is need to review the constitution for devolution of powers from the federal to state government and from state to the local governments.” Briefing the governor on the workings of the committee, its Chairman, Dr. Sule Yahaya Hamma, said the committee which has met 24 times since its inauguration in November 2017, has held meetings with the Emir of Kano, traditional rulers, religious leaders, Islamic scholars, market women, student’s unions, civil society organisations and other relevant agencies whose contributions formed part of the recommendations of the committee.
TUESDAY MARCH 13, 2018 ˾ T H I S D AY
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Omokore Loses Bid to Recover Forfeited Properties Davidson Iriekpen Efforts by Mr. Olajide Omokore, an ally of the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, to recover his properties forfeited to the federal government have hit a brick wall, as a Federal High Court in Lagos has struck out a suit filed to that effect. Omokore had filed the suit against the Economic and Financial Crimes Commission (EFCC) seeking to secure the release of his properties temporarily forfeited to the federal government by a court order. When the matter was mentioned yesterday, Omokore’s lawyer, O. Achimiwu, told the court that his client was seeking to discontinue the matter against the EFCC. He, however, did not give a reason for the discontinuance as there was no legal representation for EFCC. Consequently, the presiding judge, Justice Mojisola Olatoregun, struck out the case. In an affidavit earlier sworn in support of the suit by a lawyer, Tosin Samuel Alawode, and filed before the court by R. A. LawalRabana (SAN), the deponent (on behalf of Omokore) had averred that the allegations levied against Omokore and two companies, Atlantic Energy Drilling Concepts Nigeria Limited and Atlantic Energy Brass Development Limited, in which he has vested interest, by the EFCC were in relation to the Nigerian Petroleum Development Company (NPDC) Limited. The deponent had stated that it was in respect to the breach of specific terms of the contract agreement embodied in a Strategic Alliance Agreements (SAA), between Omokore’s firms and NPDC on eight oil blocks. The deponent stated that under the SAA, the companies were obliged to render some services to NPDC, the upstream subsidiary
of the Nigerian National Petroleum Corporation (NNPC), and also remit some monies accruing from the services to the federal government through NPDC. He added that the contract agreement was on-going and being performed until it was alleged that the companies were in default of certain sums of remittances. Based on the differences and disagreement over remittances, the parties were already in the process of agreeing on the terms of unremitted payment to resolve the issue when EFCC waded into the matter and said it was investigating the contract agreement, which was contrary to the provisions under SAA for parties to go to arbitration to resolve their differences. The deponent further averred that the intervention of EFCC scuttled all efforts to resolve the differences amicably. Subsequently, Omokore was invited and interrogated by the EFCC, and thereafter, arraigned before Justice Binta Nyako at the Federal High Court, Abuja. The deponent averred further that before the companies entered into the SAA, Omokore was already a successful businessman in the oil and gas sector and had acquired assets and properties legitimately, and that he acquired all the assets, properties and documents listed before the court and not from any proceeds of illegality or violation of any law. The deponent revealed that in the course of investigations, Omokore’s residence/office was raided by officials of the EFCC, and under the guise of exercising their powers, carted away and seized all the items listed before the court. He said some of the assets, properties and documents belonge to Omokore’s wife, while some belonge to staff of the companies and his associates, none of whom
PrivateVarsities: NUC Receives 274 Fresh Applications for Accreditation Kuni Tyessi in Abuja The National Universities Commission (NUC) has received fresh applications for the establishment of 274 private universities in the country. The Executive Secretary of the commission, Prof. Abubakar Rasheed, disclosed this in Abuja yesterday during the presentation of a letter of recognition of Zamfara State University, Talata-Marafa, to Governor Abdulaziz Yari. He said the country now boasts of 162 universities, even as he gave the number of privately-owned universities in Nigeria as 74, with states and federal government accounting for 47 and 31 respectively. While commending Zamfara State for establishing a university despite being the last to do so in the country, the NUC boss expressed concern with the few number of universities in the North-west geopolitical zone.
He said: “What is interesting is the concentration of universities in the country. Out of the 74 private universities 34 or 35 are from the South-west zone, about 13 or 14 from South-east, 13 from the South-south and 11 from the North-central and largely from the Ilorin, Lokoja and Abuja axis. “The North-east has two and only one private university in North-west, which is the largest zone in the country and is located in Katsina. But we are currently processing about 274 applications for various universities, at least two or three of them are from Kano.” The NUC boss expressed satisfaction with the quality roadmap of Zamfara State University, saying with its approval, all relevant government agencies have been informed of its establishment. On his part, Governor Yari restated the commitment of his administration to ensuring that academic activities take-off in the university in 2018/2019 academic session.
was investigated or charged along with him in connection with the allegation against him. The deponent stated that after he had written a letter to EFCC through his solicitors, Aluko and Oyebode, demanding the release of all the items, the EFCC failed to respond to the letter. Omokore contended that the properties were not and could not
have been classified as proceeds of any violation of the EFCC Act or any of other law, having been acquired legitimately before the SAA leading to the allegations. Consequently, in the interest of justice and fairness, Omokore had urged the court for a declaration that the EFCC could not under the guise of section 28 and 29 of EFCC Act have seized and asked for a
forfeiture of his assets to federal government. He had also asked for a declaration that the dispute arising from the allegation of breach of contract, particularly failure of a party to discharge his/her obligations and or indebtedness to an agency of the Federal Government of Nigeria under a specific contract agreement, could
not be classified as a financial crime. He also sought an order directing EFCC to release and return forthwith, all the properties listed before the court to him, as they were assets and properties not shown to have been the proceeds of any alleged financial crime for which he is being prosecuted. The EFCC did not file any response to the suit.
HOW TO REFORM THE BANKS
R -L: Speaker, House of Representatives, Hon. Yakubu Dogara; Vice President Yemi Osinbajo; Ondo State Governor, Oluwarotimi Akeredolu; Author of the Book, Hon. Bode Ayorinde; his wife, Mrs, Adejoke Ayorinde and Vice Chancellor, Obafemi Awolowo University Ife, Prof. Eyitope Ogunbodede, at the public presentation of the book: ‘Banking Reform in Nigeria’ in Abuja....yesterday
PVC: Ohanaeze Accuses INEC of Plot to Disenfranchise Ndigbo Christopher Isiguzo in Enugu The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, last night accused the Independent National Electoral Commission (INEC) of deliberate plan to disfranchise Igbo people in the 2019 general election. President General of Ohanaeze Ndigbo, Chief John Nnia Nwodo, made the allegation in Enugu when the state INEC Resident Electoral Commissioner (REC), Mr. Emeka Ononamadu, paid him a courtesy visit. Nwodo said the shortage of registration materials in virtually all the states in the South-east zone in the on going Continuous Voter Registration (CVR) exercise was part of a deliberate plot by the election management body. Nwodo said he had visited many of the registration centres and had come to the conclusion that the South-east is shortchanged. “I am of the conclusion that INEC has deliberately denied this area of registration materials in other to ensure that we are under registered. I say this not because I am the PG of Ohanaeze Ndigbo but I say this as a lawyer who respects evidence,” he said. The President-General of Ohanaeze Ndigbo, who said the machines deployed to Southeast for the CRV exercises were slow and not enough, noted that the
machines he saw INEC deployed in the northern Nigeria for the same exercise were modern and efficient. According to him, “Let me use my home as example: I come from Ukehe in Igbo-Etiti Local Government Area. Last week I went home to check what was going on; first I went to confirm whether my own voter’s card was valid, I was told that it is valid. But my local government area had the presence of INEC in less than three polling units. In my ward, INEC was present in only one polling unit in my village and luckily, it was my polling booth. “That booth has between 18 and 20 polling booths which are registration booths. Now there was only one machine in my ward; that machine is in my registration area and unlike the machines I saw in the North when I went there which captures five fingers instantaneously. The machine in my registration area can only capture one finger at a time and there two polling booths in one side and therefore, it should be two registration centre but there was only one registration machine. “They had run out of laminating sheet and therefore everyone given a temporary voters card didn’t have it laminated and villagers who deal with palm oil and all sources of charcoal and firewood would have tendencies to mutilate the temporary voter card before the election if they don’t get a permanent one before
the election, and it may even be difficult to recognise their face or their thumbprint or signatures. “Secondly, your staff were very hardworking, but the maximum registration they can achieve in a day was 48 people and there were twice the number of people waiting who were not registered. My projection is that in two days they were able to register 96 voters against over 500. “If you want us to pay to hire more machines, we are ready to do so. If you want us to pay for staff that you may not have enough to deploy to our places, we are prepared to raise money from Igbos people, but we feel shortchanged. “And information from the chairman of my local government area is that this kind of thing is happpening in other places where there are skeletal registration. My question is if there are enough machines to deploy to all the polling booths on the day of election why is it difficult to deploy many for the registrations? If you have logistic problems we are prepared to help. The local government is prepared to help, the state government is prepared to help. I am willing to offer myself as conduit pipe between them and your organisation to ensure that we have proper registrations.” The president general equally lamented that while Igbos were being disenfranchised in the South
east; over 11.6 million Igbo people in northern Nigeria are equally being discriminated against from registration of voters, which he said is an inalienable constitutional right of all Nigerians. “Our people in the North told me that in the queues, the indigenes are treated before them. And I like to use this opportunity in your presence to ask that you send this message to your headquarters. This kind of discrimination against Igbo in the registration is not good and healthy for our national polity,” he said. Earlier in his address, the REC, Ononamadu, said the visit was part of its outreach to critical stakeholders in election process which Ohanaeze Ndigbo was one of. “We need a lot of opportunities to do more before 2019 elections. One of our major objectives is to begin to build trust among critical stakeholders and also to create that openness of sharing of information so that every stakeholder can be on the same page before, during and after election. This we have tried to do using the party structures, the traditional leaderships, and the president generals of which we held numerous meetings before now to enable us understand what the key problems are, and the challenges that will confront us now and in 2019 so that we begin to work on them as early as possible.”
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Oronsaye Distances Self from Alleged Pension Scam by Maina Pension Taskforce Says banks were complicit NUP blames former HoS James Emejo in Abuja Former Head of Civil Service of the Federation (HoS), Mr. Stephen Oronsaye, yesterday distanced himself from allegations of fraud linked to the activities of the defunct Presidential Task Force on Pension Reforms (PTFPR) headed by Mr. Abdulrasheed Maina. Speaking at the ongoing public hearing by the House of Representatives Adhoc Committee investigating the activities of the presidential task force on pensions reforms from 2010 to the time of its dissolution and any other successor agency, he said during his tenure as HoS, he had set up a committee that carried out a comprehensive verification exercise on the number of federal pensioners, an exercise which uncovered a number of ghost pensioners and slashed the federal government monthly pension liabilities from N1.5 billion to N882 million. According to him, “In the pension payroll at the time, there
was about 106,000 pensioners. After verification, they captured about 70,000 to 71, 000 pensioners. And there was also an additional 50,000 pensioners who had retired many years before, and had not been paid. “In effect, it meant that we were paying about N1.5 billion when we should have been paying a little over N880 million as regular pension. By the time, the other 50,000 was included, the figure went up just a little over a billion. “The amount paid was about N882 million, meaning that we had a significant reduction of over N612 million. “I didn’t cover any pension office. I retired in November 2010. It was after I left that the team metamorphosed into a presidential pension task force.” Asked what punitive measures he took against the perpetrators of the pension fraud, the former HoS said he only submitted a report to the then National Security Adviser (NSA) and also redeployed the director who was in charge of
pensions in his office. Oronsaye said: “I didn’t query him. What I did was to remove him from that office. “Frankly, it was obviously a collusion. If the banks did not collaborate, it wouldn’t have happened. I think it was sufficient to say that since I have found this, it was no longer safe to have you there.” But unimpressed by Oronsaye’s claims, the National President, Nigerian Union of Pensioners (NUP), Mr. Abel Akin Afolanya, accused him of mulling the idea behind the scam, adding that the PTFPR further shortchanged pensioners. According to him, “The defunct presidential task force on pension headed by Alhaji Abdulrasheed Maina was an idea conceived by former HoSF, Mr. Steve Orosanye, in difference to the yearnings of Nigerian pensioners. He named
the Committee upon inauguration ‘Pension Reform Task Force’. “We would like to point out that there was nothing ‘ab initio’ known as Presidential Task Force on Pension. The appendage ‘Presidential’ was cleverly added to the task force name by Maina after the then President Goodluck Jonathan granted audience to the committee sometimes in 2010 and assured them of his full support. “If anybody is in doubt, let Maina come and show us his letter of appointment by President Jonathan and tell us when and where he was inaugurated by the president, the terms of reference given to him and what was the duration or the life span of the so-called presidential task force. He simply sold a dummy to Nigeria and we all bought it.” He said: “Having said that, the committee embarked arrogantly on annexing (because of the powers
it arrogated to itself) all pension related agencies to itself, a task he was neither mandated to do nor prepared for because, it did not even have the staff strength to do it. “The task team was just created to reform the Pension Department of the Office of the Head of Service of the Federation as a result of the perceived/alleged rot in the administration of pension at the Office of the Head of Service of the Federation. “As a result of this, the committee became power drunk, exercising powers beyond its reach, suddenly declaring virtually all stakeholders in pension matters ‘thieves’, except the task force that’s made up of ‘saints’.” According to the NUP president, “This union suffered a similar fate in an attempt to protest this seeming aberration; it took the intervention of the seventh Senate and President Jonathan for the union to survive
under the task force. Union dues were illegally withheld for over a year and its leaders face serious persecution by the task force.” The Chairman of the Committee, Hon. Ananyo Nnebe (PDP, Anambra), had last week summoned Maina; former Minister of Finance, Dr. Ngozi Okonjo-Iwela; Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; Attorney General of the Federation (AGF), Mr. Abubakar Malami, among others to appear before it to say what they know about the alleged scam. But, only the former HoS had turned up. Nevertheless, Nnebe urged all invited stakeholders to appear next Wednesday which is the next adjourned date of the probe. He said: “We are giving them a second chance next Wednesday to be here by 1 p.m. We want to give them the benefit of the doubt.”
ONSA: Terrorists, Bombers in North-east Now Relying on Hard Drugs to Attack Paul Obi in Abuja The Office of the National Security Adviser (ONSA) yesterday revealed that Boko Haram terrorists and bombers operating in the North-east region now rely on the influence of drugs to attack, commit heinous crimes and other acts of terrorism. It was discovered that most suicide bombings and other violent crimes are carried out under the influence of drugs. This was made known at a five-day conference on National Chemical Security in Abuja with the theme: ‘Towards a Secured Importation, Distribution, Storage and Use of Chemicals in Nigeria’. According to the National Security Adviser (NSA), Major General Babagana Monguno (rtd), the increasing spate of attacks by terrorists in the region is linked to the use of hard drugs. Monguno, represented by Coordinator of Counter Terrorism Centre, Office of the National Security Adviser (ONSA), Rear Adm. Yaminu, said: “The National Action Plan on Preventing and Countering Violent Extremism is aimed at identifying early warning signs of violent extremism, pre-empt and prevent it from manifesting. “One of such acts of violent extremism is the suicide-bombing phenomenon, a tactic being exploited by the Boko Haram terrorists, especially in the Northeastern part of the country.” He explained that “in response to this ugly phenomenon, we have extended our counter IED efforts beyond control of explosives and precursor materials to include the human aspect of the threat, which is the motivational factor. “We have identified that most of these violent crimes, such as person-borne IEDs, are perpetrated under the influence of drugs.’’ He added that to curtail the surge
in drug-related violent extremism and others, “the centre had included certain drugs often abused and their various precursors as chemicals of concerns.” The coordinator said those drugs required strict control measures for their importation, manufacture, distribution, storage and usage. On use of chemicals, he stated that the ONSA had identified the prevalent types of explosives, accessories, fertilizers and precursor chemicals used in the preparation of the IEDs. He stated that the findings were arrived at after investigation carried out over the years on series of Improvised Explosives Devices (IED) incidents in urban terrorism and insurgency theatre of operations. “IED attacks have become an integral part the Boko Haram terrorists’ tactics. Over the years, countries faced with the threats and dual use of chemical substances and precursor for illicit and criminal activities, have evolved strategies to mitigate, pre-empt and respond to such threats. “Similarly in Nigeria, we have also included counter IED initiatives in our National Counter Terrorism Strategy (NACTEST). “The focus of this strategy is to attack the criminal network of sourcing for the materials used in preparing the IEDs, including the various dual use chemicals, explosives/accessories and specific blends of fertilizers,’’ he said. He identified the MDAs as the National Agency for Food and Drug Administration and Control (NAFDAC), Ministry of Mines and Steel Development and Federal Ministry of Agriculture and Rural Development. The Chief of Naval Staff, Vice Admiral Ibok Ete Ibas, called for intelligence sharing among all security agencies to check importation and smuggling of illicit drugs and dangerous chemical substance into the country.
CELEBRATING MOTHER’S DAY
R-L: Head of Service of the Federation, Mrs. Winifred Oyo-lta; former Minister of lndustry, Mrs. Nike Akande; Ayoola Badejo; Educationist, Prof. Bridget Sokan; and Director, Greater Nigeria Foundation, Mrs. Omotayo Omotosho, during a Special Cultural Tourism fiesta to commemorate Mother’s Day in Nigeria, tagged: 2018 YEYE CABARET in Lagos.....Sunday Abiodun Ajala
2019: Ladoja, Others Shop for New Party as Crisis Deepens in Oyo PDP Ademola Babalola in Ibadan All is still not well with the Oyo State chapter of the Peoples Democratic Party (PDP) as a former Governor of the state and its leader, Senator Rashidi Ladoja, vowed to leave the party because of the perceived impunity rearing its head again in the party. To underscore the seriousness attached to the move, a committee has been set up to shop for an alternative party by the Ladoja group as the 2019 elections gather momentum. Three weeks ago, the crisis in the party reared its ugly head following moves by the national secretariat to divide the state executive into two with Ladoja group given 14 slots of the state executive and another group loyal to a gubernatorial aspirant, Seyi Makinde 12 slots in the 26-member state executive. Speaking in an interview programme on Splash F.M, Ibadan, yesterday, the former governor said
he was miffed that the impunity which drove him away from the PDP in 2010 and which he was promised was over had surfaced again. He also used the occasion to reaffirm his decision not to contest governorship election again in the state, stressing that his preoccupation was how to install a people’s government in the state in 2019. Ladoja stressed that he had no axe to grind with Seyi Makinde, declaring that a father-son relationship still exists between them as well as other guber aspirants in the party. “There was only one state congress held as far as I am concerned and Alhaji Kunmi Mustapha emerged as the chairman. The issue of the state executive being shared 14 and 12 does not even arise at all. There is and there will be nothing like that. “It was impunity that drove us from the PDP and if they allow the impunity to return, we will leave
the party for them. We brought Accord less than four months to the 2011 elections and the people of the state accepted the party. “Wherever there is impunity, you will not find me there. How will some people think of going to Abuja to ask them to help to substitute names of their preferred candidates in the list of duly elected officers? It is very wrong and we will not accept that,” he said. On the judgment nullifying the coronation of 21 new obas by Governor Abiola Ajimobi last year, Ladoja said the court made a declarative judgment which must be complied with, irrespective of the appeal filled by the defendants. “By the judgment, these people should cease to call themselves oba and should not be wearing their so-called crown or coronet. There was a picture of one of them sent to me from Kano State that he wore the coronets. “I will ask my lawyer to call the attention of the court to the flouting
of its judgment. They are acting in contempt of court. The governor, my younger brother (aburo), should have called them to order and ask them to desist from illegality. They can wear the coronet in their houses, after all they can be kings of their houses, but outside their homes. “The court gave a declarative judgment which means that irrespective of the appeal filed by them, the judgment subsists until set aside by a court of higher jurisdiction. The court said the retired Justice Akintunde Boade-led Commission of Inquiry is unknown to law and does not exist. These so-called obas too do not exist in the eyes of the law. That judgment still stands,” he said. Ladoja reiterated that he had nothing personal against Governor Ajimobi whom he repeatedly called his brother, adding that he opposed his policies which he considered anti-people.
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Fashola Accuses Gencos of Planning to Disrupt Power Supply for Political Reasons Chineme Okafor in Abuja The Minister of Power, Works and Housing, Mr. Babatunde Fashola, yesterday claimed that power generation companies (Gencos) who recently filed a lawsuit against the federal government for alleged discriminatory practices against them, were holding meetings at nights and planning on how to disrupt electricity supply in the country. Speaking at the March 2018 edition of the monthly power sector operators’ meeting in Uyo, capital of Akwa Ibom State, Fashola, stated that he had been getting security reports of the “clandestine meetings” that the Gencos were holding to perfect their plans. A text of his speech at the meeting which was issued by his Senior Special Assistant on Communication, Mr. Hakeem Bello, said Fashola noted that the plan to disrupt power generation in the country by the Gencos was politically motivated, adding that the government was not scared of meeting them at the courts. The minister berated the Gencos for their actions and said while they had gone to the law court to press home their demands, the government would in addition to meeting them in the court, rely on the public court of opinion to decide who is wrong or had erred. The power Gencos comprising Transcorp, Mainstream Energy,
North-South Power, and Egbin, had filed a court action against the government and some of its agencies, claiming that they are being treated unfairly by the government in their operations. They also opposed the government’s plan to pay the monthly bills of Azura Power and Accugas from the N701 billion financial facility the Central Bank of Nigeria (CBN) approved for the Nigerian Bulk Electricity Trading Plc (NBET) to meet up its monthly obligations to the Gencos by about 80 per cent. According to them, the government’s alleged discriminatory treatment of them could lead to them packing up their operations and going out of business, while payments to Azura and Accugas from the N701 billion facility could deplete the facility and throw them into debt. The case was filed at the Federal High Court Abuja Division and first heard on March 1. But in his response to the lawsuit, Fashola said at the meeting: “Lately, I have read reports that some Gencos, not Ibom Power, have gone to court, filing claims against the government. That is their right and their prerogative. It is better than self-help, and it is consistent with the rule of law, which underpins our democracy. While they seek refuge in a court of law, they must be ready to face scrutiny in the court of public opinion. “The court of public opinion
is a court of conscience and morality. In the court of public opinion, they must be ready to tell the citizens how they felt when other groups went to court to stop the implementation of tariffs approved by NERC in 2016. They must explain to this public court whether they went to court before government approved a N701 billion payment assurance guarantee to pay their monthly power bills.” “They must disclose to this court that they owed debts, from the pre-Buhari era, because their income had reduced to less than 50 per cent. They must disclose to this court that they now receive about 80 per cent income, and that this government is now paying them revenues collected from international customers from the Republics Benin, Niger and Togo, in dollars, as against the naira payment they used to receive “In both courts, they must disclose how they felt when some Discos went to court to stop the enforcement of provision of promissory notes, which was a condition that denied them access to the CBN NEMSF low interest loans. They must tell the court of public opinion that the reason for going to court is because government is making 100 per cent payment to a new Genco who has a different contract with a Partial Risk Guarantee, which they do not have,” he added.
Mentally Insane Man Kills Two Primary School Pupils in Ogun Femi Ogbonnikan in Abeokuta Two pupils of a primary school in Ogun State were yesterday sent to their early graves when a man with insanity attacked and hacked them to death. The gory incident took place at Saint John’s Anglican Primary School, Agodo, in Ogun Waterside Local Government Area of Ogun State. It was gathered that the mentally insane man, identified as Lekan Adebisi, was said to have stormed the school at about 11:15a.m. during the lunch break. The two victims who were among
other colleagues, were said to be playing on the football pitch in the school when the said Lekan suddenly emerged from nowhere in a nearby bush and attacked them. At the end of the ensuing melee, it was learnt that two male pupils who were said to be in the kindergarten class - Mubarak Kalesowo and Sunday Obituyi - were hacked down as a result of the deep machete cuts inflictedonthem,adevelopmentwhich left them in a pool of their blood. Eyewitness accounts said immediately the mentally insane man committed the crime, he took to his heels. The two deceased pupils, it was
learnt, were aged four years old. The sources close to the school hinted that the school had perimeter fence but lacked gates to secure it. Following the sad incident, it was said, parents and guardians thronged the affected school to withdraw their children and wards while security agents have swung into action to unravel the mystery behind ugly incident. The state Police Command Public Relations Officer, Abimbola Oyeyemi, confirmed the incident. Oyeyemi said the command had swung into action as detectives are on the trail of the suspect with a view to arresting him.
Ambode Recommends 25-year Jail Term for Convicts of Sexual Violence Gboyega Akinsanmi Confronted with the unacceptable incidence of sexual violence in the state, Lagos State Governor, Mr. Akinwunmi Ambode, yesterday recommended a minimum jail term of 25 years for any person tried and found guilty of sexual violence. He challenged the state House of Assembly to amend the Protection against Domestic Violence Law, 2007 to accommodate stiffer penalty for convicts of sexual violence, noting that rape should not be met with light sentencing. The governor strongly canvassed stiffer penalty for convicts of sexual violence after a peaceful march against domestic and sexual violence at the State House, Ikeja yesterday, noting that domestic violence at large “is a crime, and should be treated as such.”
The march, which terminated at the state House of Assembly, had the Secretary to the State Government (SSG), Mr. Tunji Bello, the Attorney-General and Commissioner for Justice, Mr. Adeniji Kazeem, the state Chief Judge, Justice Opeyemi Oke, and the Coordinator of Lagos State Domestic and Sexual Violence Response Team, Mrs. Titilola Vivour-Adeniyi, among others in attendance. After the march against domestic violence, Ambode said rape “should not be met with light sentencing. The minimum sentence of 25 years is highly recommended. We need new laws, which will respond adequately to the nature and occurrences of this era.” He noted that domestic violence “is a crime, and should be treated as such. The Protection against
Domestic Violence Law, 2007 should therefore be amended accordingly.” Ambode acknowledged that a lot of progress “has been made in the steps taken to protect the rights of women and the girl child and in the war against the oppression of the female gender. However, there is still so much to be done.” In Lagos, specifically, he said there “has been a significant increase in formal and informal reporting of domestic and sexual violence cases, but contrary to what it appears to be, this menace is not a recent development.” He explained that occurrences “have been around for years, but they were seen as norms because nobody spoke out against them. So, such acts were overlooked based on misguided definitions of gender roles.
NATIONAL SUGAR DEVELOPMENT COUNCIL, ABUJA Sugar House, 45, Oro Ago Crescent, Off Muhammadu Buhari Way, Garki II, P.M.B. 299, Garki, Abuja, Nigeria Web site – www.nsdc.gov.ng Email - contact@nsdc.gov.ng
VACANCY FOR THE POST OF DIRECTOR, TECHNICAL SERVICES About Us National Sugar Development Council is a Parastatal of the Federal Ministry of Industry, Trade and Investment established under Decree No. 88 of 25th August 1993 (Now Act No. LFN 78 of 2004 as amended). The Council was established to facilitate the rapid development of the sugar sub-sector to ensure self sufficiency. Job Description The prospective candidate will head the Technical Services Department and will invariably oversee all technical issues relating to field and factory development/operations. He/She will in addition be involved in the following; ? Formulating and implementing government policies to achieve the objectives of the Council in the sugar sector; ? Advise Council on dynamic changes in the global sugar industry; ? Formulate, execute, coordinate and monitor Council's projects; ? Liaise with relevant MDAs, States and Local Governments on land acquisition and provision of infrastructures as well as financial institutions to facilitate availability of loanable funds to investors; ? Liaise with various research institutions/ universities with mandate on sugarcane or sugar processing; ? Sugar Research, Development and Training; ? Sugar Factory and Engineering Services; ? Mini Plants Development; Assess Business Plans/Feasibility studies on proposed/potential sugar sites/factories etc. Attributes of the Candidate ? The candidate for the post must exhibit considerable degree of competence, responsiveness and demonstrate integrity and diligence. ? Prospective candidates should demonstrate evidence of strong
leadership, business relationship and analytical skills in addition to being ICT compliant. Qualification ? The ideal candidate must possess a minimum of Second Class Honours Degree in Agriculture; Irrigation, Mechanical, Electrical or Agric. Engineering or other related fields. ? Possession of higher degree and membership of professional bodies will
be an added advantage. Experience ? The candidate must possess not less than 20 years post qualification experience, part of which must be in senior management position in the sugar industry or related fields. ? Prospective candidate must also be familiar with the peculiar nature of the Nigerian Sugar Industry and must have a clear idea on how to fasttrack its development. Conditions of Service Comparable to most Government parastatals. Method of Application Candidates are to submit ten (10) copies of their applications, along with copies of certificates and curriculum vitae to the office of Director, Human Resource Management NSDC not later than six (6) weeks from the date of this advertisement. The e-copy of the application by candidates should be forwarded to the Council's email address, contact@nsdc.gov.ng Note: Candidates should include names and addresses of three referees two of whom must be in position to give professional reference reports. Applicants are advised to contact their referees to forward their Reference Reports under confidential cover to the Director, Human Resource Management.
SIGNED:
MANAGEMENT, NSDC
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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com g y
CHAMPIONS LEAGUE
United Seeking Qâ€™ďŹ nal Berth against Sevilla Just three days after a rousing win over Liverpool, Manchester United return to Champions League action with everything still to play for in the second leg against Spanish side,Sevilla. The Reds barely survived their trip to the Estadio Ramon Sanchez Pizjuan, following brilliant show by David De Gea who helped to secure a goalless outing for the former English Premiership champions. Performances must improve tonight, as Sevilla outshoot Manchester United 25-6 in the first leg. But there won’t be any margin for error since the home side failed to score an away goal in Spain. Any score draw will knock the Reds out of the Champions League. Thankfully, visiting teams rarely find joy at Old Trafford these days. In 20 home matches in 2017/18, United have won 17 with only one loss. Even better, they are rounding into form at exactly the right time. Since that dour day at Sevilla, Manchester United have reeled off three straight wins and regained
their footing after a choppy February. Jose Mourinho’s men needed comebacks to beat Chelsea and Crystal Palace, but wasted no time in grabbing control of Saturday’s match against Liverpool. A first-half brace from Marcus Rashford proved the difference. Although Liverpool had 68% possession, they did little with it — mustering only two shots on goal. In fact, their only goal came courtesy of United’s Eric Bailly, who made his first start for the club since returning from ankle surgery. That gaffe aside, Bailly played well and provided much-needed strength and speed to the United defence Speaking yesterday ahead of today’s clash with Sevilla, Mourinho said he did not know whether midfielder Paul Pogba would return for tonight’s Champions League last-16 second-leg tie. Pogba has returned to training after missing Saturday’s 2-1 Premier League victory over Liverpool. Forward Anthony Martial
TODAY (8.45pm) Roma v Shakhtar Man Utd v Sevilla WEDNESDAY Besiktas v B’ Munich Barca v Chelsea
d Trafford could return at Old atches. after missing two matches. The Red Devils will be without j defenders Phil Jones, Marcos Rojo and Daley Blind, and midfielder Ander Herrera. me could And Tuesday’s game ker Zlatan come too soon for striker g g Ibrahimovic, who is regaining ee months fitness after almost three y. y out with a knee injury. el Carrick Midfielder Michael will hope to be included y after confirming on Monday that he will retire at the end of the season. ithout Sevilla will be without chia, defender Sebastien Corchia, o is while Daniel Carrico mer also a doubt. Former er Manchester City winger Jesus Navas is unlikely to make the squad as he recovers from injury. United, who will play its first Champions League knockout game in four years, has won 155 es of the 18 home games so far this season. Pogba‌ remains a major doubt against Sevilla today
WORLD CUP 2018
Nigerians Will Not Accept Eagles’ Failure in Russia, Wike Tells NFF Ernest Chinwo in Port Harcourt
Rivers State Governor, Nyesom Wike, has advised the leadership of the Nigeria Football Federation (NFF) to intensify preparations for the World Cup 2018 as Nigerians will not accept failure of the Super Eagles at the Mundial in Russia. Speaking during a courtesy visit of the President of the NFF to him at the Government House in Port Harcourt yesterday, Wike said exiting the World Cup at the group stage would be unacceptable to Nigerians. According to Wike: “If you (Eagles) fail to advance beyond the group stage, don’t bother to return. Find excuses to stay there
in Russia. Nigerians expect the best from the Super Eagles. That is why the NFF must intensify preparations to do well at the World Cup,� stressed Wike. He urged the management of the NFF to close ranks and work in unity for the development of football in the country. “There must be disagreements, but these disagreements should be platforms for development. Disagreements should not destroy the place. It should make NFF stronger,� Wike noted. The governor said Rivers State government was using football as a source of empowerment for the youths. He said football was a unifying
NPFL NEWS
Kwara Utd Fires Obuh Nigeria Professional Football League (NPFL) club, Kwara United yesterday announced the sacking of their Technical Adviser, John Obuh, from the post. Former Niger Tornadoes gaffer, Abubakar Bala, has been tipped as Obuh’s possible replacement. In an official press statement issued by Media Officer of the club, Waheed Bibire, the Ilorin club was forced to take such
drastic decision following the team’s poor run of form in the NPFL this season. Kwara United has stuck to the bottom of the 12-week old season with a miserly11 points from a possible 36. He is the second coach to be relieved of his duties in the NPFL in this campaign after Niger Tornadoes sacked veteran tactician Erasmus Onu earlier in the season.
10-man Akwa Utd Defeats Nasarawa to Move up A ten-man Akwa United FC returned to winning ways in the Nigeria Professional Football League (NPFL) yesterday with a 1-0 win against Nasarawa United in their Match-day 11 fixture at the Godswill Akpabio International Stadium The Promise Keepers who were without a win in their last three games in all competitions heading into the game scored the only goal of the encounter in the ninth minute through Adeshina Gata. It was the former
ABS striker’s first goal of the campaign. The Uyo club was reduced to 10 men deep into stoppage time when Ubong Friday was sent off for stamping on Nasarawa United defender Abubakar Abdullahi. Abdu Maikaba’s men moved from eighth to third position in the table with the win with two outstanding games still to be played. They will face Al Ittihad of Libya in a CAF Confederation Cup fixture in Uyo on Sunday.
factor in the country, as it douses tension whenever the nation is engaged in international sporting events. Wike commended the NFF for the notable improvements in the country’s league, charging the NFF leadership to develop it to the level where teams can win on the strength of their capacity. Earlier, the NFF President, Amaju Pinnick, said that the
federation was in the state to thank Wike for providing the foundation for the qualification of Super Eagles for the World Cup. He said the journey to Russia 2018 started in Port Harcourt after the Super Eagles defeated Swaziland. “The governor created the right environment that led to the qualification of Super Eagles
for the World Cup. This journey started here in Port Harcourt. Today, Port Harcourt has become a destination of choice,â€? observed the NFF chief. He formally invited Wike to be part of the country’s delegation to the World Cup, stressing that Nigeria would benefit from the sporting experience of the Rivers State governor.Â
As part of NFF’s preparation of the Super Eagles for the battles ahead in Russia, Gernot Rohr’s men are to take on Poland on March 23 and Serbia on March 27 respectively. They are also programmed to play the Three Lions of England on June 2 at Wembley, before heading to Russia to face Croatia, Iceland and Argentina in Group D of the World Cup.
Adamu Atta: Salute to a Polo Legend The rise to stardom story of Adamu Atta as Africa’s biggest polo patron has been severally told and written in many media outlets before now. But what many find even more fascinating about this Nigerian polo star is his ice-cold modesty which is quite uncommon about celebrities. From a strong polo debut with his MIA Hotels team in Jos, this self-propelled polo patron, has gradually developed into one of the biggest polo personalities in the world and has been the undisputed number one Nigerian player and patron whose achievements in the noble game of kings will be difficult to match for a long time to come. Winner of all the high-goal polo titles in the country, Atta’s participation at any tournament instantly gives it class and credibility. His many titles include eight Georgian Cup victories, Emir of Kano Cup, back-to-back triumphs at Keffi Ranch Polo Tournament and the General Hassan Cup in Port Harcourt, among others. Penultimate weekend, Atta and his all-conquering Fifth Chukker team added another title to their over -flowing trophy shelf after winning the Majekodunmi  Cup for a record fourth successive year, bringing their Lagos International Polo Tournament high-goal Majekodunmi Cup total haul to seven in the last decade. While most celebrated sporting
icons may find it difficult coping with stardom, Atta takes it all in his giant stride unfazed. A philanthropist and top international businessman with a vast business empire spanning property, manufacturing, oil and gas, and consultancy Polo freak Adamu is a great player even at a +3 handicap, and
you need to see him in action to believe it - his speed, mastery and skill attest to this. No wonder that he has an impressive international resume playing alongside global superstars like world number one, Adolfo Cambiaso and several other highly rated professionals in England, Dubai, Argentina, et al. As an international personality
of repute and a very talented polo player, Atta delights the crowd with his consistency and cuttingedge performance that makes him the most admired at every major polo event across the country. At the outskirts of Kaduna lies another of Atta’s foremost contribution to polo: the Fifth Chukker Polo and Country Club, a world-class resort  that caters to a range of equestrian sporting activities. It annually hosts two of Africa’s biggest polo extravaganzas, the Access Bank/UNICEF Charity Shield and the African Patrons Cup championships. These events have squarely put Kaduna on the map as one of Africa’s more desirable sporting destinations. With over 400 thoroughbred polo ponies in the stables, Fifth Chukker Polo & Country Club continues to be a benchmark for excellence while maintaining its relaxed family-orientated atmosphere. Despite being a private club, Fifth Chukker also welcomes non- members to visit and enjoy many of the facilities the club has to offer. The glamorous Nigerian polo scene has certainly produced many interesting and great polo patrons and players who have contributed immensely to the development of the noble game nationally and internationally, and Adamu Mahmud Atta belongs at the top of this exclusive list.
T H I S D AY ˾ TUESDAY MARCH 13, 2018
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Tuesday March 13, 2018
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MISSILE Osinbajo to Senate
THE ADDRESS OF LUXURY IN LAGOS
“Of course, the Senate has had their own say and they are entitled to take some of the positions they are taking. But the president believes that this is the right man for the job, so he presented him the second time.” Vice President Yemi Osinbajo justifying why President Muhammadu Buhari has refused to accede to the Senate’s request to drop acting chairman of the EFCC, Ibrahim Magu, arguing that he remains the right man for the job regardless.
TUESDAY WITH REUBENABATI abati1990@gmail.com
Lagos State and the Politics of Taxation
T
he government of Lagos state seems to be currently in the eye of the storm over its introduction of a law, a property tax as it were, known as the Land Use Charge Act of 2018, which repeals a similar law of 2001, and consolidates ground rent, tenement rate, and neigbourhood development levy. The Land Use Charge is payable in respect of all real estate in the state. But it is probably the most controversial move that has been made by the Akinwunmi Ambode administration in Lagos state, an administration that has so far enjoyed tremendous goodwill on account of its huge investment in infrastructure and human capital development in the last three years. Stakeholders have complained about the rate of increase (up to about 400%), lack of adequate consultation and communication, and the impropriety of increasing taxation at a time of unmitigated economic hardship, even in the presence of multiple taxes, including the taxation of boreholes and alcoholic drinks. Real estate valuers and surveyors as well as other stakeholders including landlords and tenants are asking the government to take another look at the law. Sooner or later, every government faces a baptism of fire. But where taxation is involved, the key issues are governance, trust, transparency and accountability, communication and more importantly, strategy. These are the key areas for consideration with respect to the current controversy over the review of Land Use Charge in Lagos. Ordinarily, however, nobody likes to pay taxes, and there is a historical and cultural context to this. The taxman is not often a popular member of the community. Wars and revolutions have been fought on account of resistance to taxation. Many of the wars in the Southern part of Nigeria, particularly Yorubaland in the 18th and 19th centuries were fought as a result of objections to what was known as “isakole” (ground rent to the sovereign), or owo asingba (service to chiefs and kings as a form of tribute), which were symbols of dominance over political authority and/or economic activities, creating a slave/master relationship among dominant/dominated groups. The famous Aba women’s riot of 1929, was a protest against the draconian warrant chiefs introduced by the colonial administration but it was even more significantly, a rebellion against the direct taxation of market women. In the late 1940s, the Abeokuta Women’s Union (AWU) led by Mrs Funmilayo Ransome-Kuti also objected to the taxation of women in the Egba Division. For six months, over 10, 000 Egba women challenged both the colonial authorities and the Alake of Egbaland, and insisted that they would not pay tax. In the end, the tax policy was suspended, the Alake had to abdicate the throne and the women got up to four positions in the decision-making Native Authority. Nor is Lagos new to anti-tax agitations. When the colonial authorities introduced electricity in Lagos in 1897, there was an attempt to ensure that this was paid for through indirect taxation, which was stoutly opposed by the people. Later, in 1907, the colonialists also proposed to provide a pipe borne water system for Lagos; the plan was to place a tax on houses to cover the cost. The African members of the Legislative council of the Lagos colony and Southern Protectorate, the traditional rulers and chiefs of Lagos and the people in general kicked against this proposed tax. They insisted they would rather drink water from rainfall or wells, rather than pay any tax. When in 1908, the colonial authorities introduced a House Assessment Ordinance, the people of Lagos
Ambode shut down all markets and marched on Government House. Women in Central Lagos also organized protests against the water rate. The battle was soon taken over by the educated elite who formed a group called the Lagos People’s Union (1908), led by John K. Randle, an Edinburgh-trained medical doctor. Taxation tends to bring out the best and the worst in both people and governments. Of J.K. Randle as he was known, the deputy Governor of the colony at the time wrote that he was an “agitator pure and simple…political disturbance was his main hobby in life.” The struggle over water rate in Lagos went on for more than 17 years and was responsible for the eventual collapse of the Lagos People’s Union and the deposition of Eleko Eshugbayi in 1925. Herbert Macaulay came on to the scene, and he championed the reinstatement of the king in 1931. The white cap chiefs of Lagos still insisted, all the same, that paying for water was against “the tradition of the people of Lagos.” The colonial authorities were unyielding. They cracked down on the people and soon introduced direct taxation, resulting in riots across the country. In post-colonial Nigeria, the pattern of revulsion to taxation has not been different. Between 1968 and 1969, there was in the defunct Western region, a peasant farmers’ revolt, popularly known as the Agbekoya. This particular revolt, like all revolts may have been politically motivated, and it may have been a class revolt, but the trigger was the peasant farmers’ rejection of higher taxation. However, since independence in 1960, there have been attempts to review the taxation system in Nigeria beginning with the Raisman Commission, and the enactment of the Tax Management Act, 1961, and the Companies Income Tax Act No 22 of 1961. During the Second Republic (1979 -1983), the Shagari administration established a Task Force on tax administration. In 1991, there was the Emmanuel Edozien study group on tax, in 1992, Sylvester Ugoh led another study group on indirect taxation, in 2002, yet another group was led by Professor Dotun Phillips, and in 2004 yet another one was led by Seyi Bickersteth of KPMG and in 2012, the Federal Government had another study group led by Mckinsey, an international consulting firm. In 2017, the Buhari administration introduced VAIDS, a Voluntary Assets and Income Declaration taxation programme, and a new National Tax Policy (NTP). Many Nigerians consider the VAIDS, a joke. Indeed, the objection to the new Land Use Charge in Lagos thus fits into a natural response pattern. But it
is important to go beyond sentiments and understand the issues. To enjoy development, the people must be prepared to pay tax, the leaders must also be transparent and accountable, provide value and inspire trust. To ensure voluntary compliance, the people must not be made to see taxation as a form of punishment. At face value, the justifications provided by the Lagos State Government, on paper and at a recent Town Hall Meeting with the Governor seem convincing enough. To keep up with the current pace of economic development, population growth and volatile oil revenue, state governments in Nigeria are under pressure to look for additional sources of revenue beyond Federal Government’s monthly allocation. This in itself is a good development. Lagos, the 5th largest economy in Africa, with a population that would be far in excess of 35 million by 2030, faces special challenges. Infrastructure deficit in the state is currently estimated to be about $50 billion (N14.47 trillion). The state’s current revenue profile is therefore unsustainable. Oil revenue in general has proved unsustainable in Nigeria in real terms. The country’s tax ratio to GDP is also relatively one of the lowest in Africa. Tax compliance is similarly low, and the extant tax codes are at best outdated. The alternative in Lagos would be for the state to borrow, but with current interest rates, that would amount to mortgaging the financial future of the state. What the Ambode administration is proposing in essence is a far more efficient taxation system which brings more people into the tax net and which requires the people to make sacrifice in the overall interest of public good. I don’t have a problem with that. But where the problem lies is in the twin areas of strategy and communication. Whereas many Lagos residents have not actually seen a copy of the proposed law, their objection is based largely on the report that the law expressly imposes a 400% increase on land use charge, and the worst hit may probably be the organized private sector and owners of commercial buildings. In 1999, the Bola Tinubu administration in Lagos state had sought to reform the tax process in the state through the introduction of electronic payments. Internally Generated Revenue in Lagos state subsequently increased from 600 million in 1999, to 22 billion in 2015, and N341 billion in 2017. Communication is important in tax administration. While it is natural for people to oppose any form of taxation, a tax system must be seen to be fair, just and equitable. The current resistance to taxation in Lagos and other parts of Nigeria – FCT, Anambra, Benue, Edo, Cross River- in part raises governance issues. Widespread reports about corruption, the lavish lifestyle of public officials, the high-handedness of tax officials and the reality of multiple taxation make Nigerians even in the face of rational arguments about the need to generate non-oil revenue, suspicious of any form of tax. In Lagos, the State House of Assembly held public hearings, but the story out there is that government has sneaked the law, with increased charges on the public, without adequate notice or communication. But how much interest did Lagosians themselves show? Do they even know who their representatives are? Do the representatives brief the people on developments of this nature? Landlords are saying when the effect of this indirect taxation is considered in absolute terms, they would be turned into tenants living in their own homes. Tenants are protesting that the new charge will be passed on to them by landlords, and with inflation already at 15%, and the country’s macroeconomics in
a fix, greater pressure and hardship will be invariably imposed on people and businesses. As presented however, the Lagos state government seems to have anticipated these concerns and created opportunities for negotiation and voluntary compliance, but how many people are aware of this? In addition, the Land Use Charge is a progressive tax, not a flat tax, with in-built disaggregation to provide reliefs for aged owner-occupiers, pensioners, old buildings of 25 years and above, owners with proof of long occupation, non-profit organisations, places of religious worship/ education, the physically challenged and registered educational institutions. Besides, more than 70% of the properties are valued under N10 million, equivalent to a land use charge of N5, 000 annually. Nonetheless, there are persons and landlords associations in Lagos already threatening to either go to court or organize street protests. The more incensed stakeholders are threatening to use their voters’ cards to remind Governor Ambode that he would need the people in the coming 2019 elections. In other words, the Land Use Charge could become the main decider of whether he gets a second term or not. When it comes to taxation, the electorate can indeed be vicious. Margaret Thatcher lost her position as Prime Minister, within her own party in the UK, 1989-1990, partly due to the crisis over a Community Charge, better known as poll tax, which made the Conservatives unpopular. Governor Ambode is on that score, quite a courageous man. He must be looking at the future of Lagos, and not the next election. But he needs not sacrifice his own political future. Whatever may have been done in Lagos since 1999, there is a lot more that can be done to improve the standard of living in the state. Nigerians like to protest but it is also important to realise that the days of dependence on oil revenue may soon be completely over. When the people pay tax, and they understand the justification for it, they are probably in a much better position to hold their leaders accountable. I believe there are steps to be taken to improve the communication process on this issue and that may mean putting the implementation of the charge on hold for a while until various stakeholders have been conscientized to take ownership of the core messages about standardization, efficiency and the need to prevent the culture of whimsical assessments by state tax officials. Landlords have to be assured that the proposed percentages are not absolute. Government should also consider the possibility of a downward review of the percentages, allow instalmental or graduated payment, and reconsider the threatened penalty of up to 200% for defaulters. Tenants of commercial buildings also need to be protected from Shylock landlords who may hide under the law, to increase rent. The objection to multiple taxation should also be addressed; if the Land Use Charge is a consolidation of three other taxes, perhaps there are other taxes in the state that should be similarly reviewed to reduce the burden on the citizenry. The relevant revenue institutions in Lagos must also be strengthened and opportunities provided for seeking redress against rogue tax administration officials. There must also be guarantees for transparency in the preparation of a necessary data-base for the ownership of properties in the state. With all the best intentions, any form of politicisation of the tax administration process is bound to be counter-productive. This must be avoided by all means.
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