Monday 19th March 2018

CBN Fixes April 3 and 4 for MPC Meeting S&P affirms Nigeria’s ratings at ‘B/B’, Stable Outlook Cautions against high debt service cost Forecasts 2.4% GDP growth in 2018 Obinna Chima Following the concession made by the Senate to screen

and confirm the nominees of President Muhammadu Buhari to fill the posts of deputy governors of the

Central Bank of Nigeria (CBN) and the four membersdesignate of the Monetary Policy Committee (MPC), the

CBN has said it will hold its first meeting of the MPC this year on April 3 and 4. This is just as Standard and

Poor’s (S&P) has affirmed its ‘B/B’ long and short-term sovereign credit ratings on Nigeria. The agency also

assigned a “stable outlook” on the country. Continued on page 8

NLC Opposition Puts African Free Trade Deal in Jeopardy… Page 10 Monday 19 March, 2018 Vol 22. No 8369. Price: N250

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Kukah Blasts Northern Muslim Elite, Says They Use Religion to Hold onto Power

Says region remains backward, poorest in the country

John Shiklam in Kaduna The Bishop of the Catholic Diocese of Sokoto, Matthew Kukah, has accused the Northern Muslim elite of using religion to hold onto power to the detriment of their people and the larger society. Continued on page 8

R-L: Director, Climate Change, Federal Ministry of Environment, Dr. Peter Tarfa; acting Director, Renewable Energy, Ministry of Power, Works and Housing, Mr. Farouk Yabo; wife of President, Asteven Group, Mrs. Barbara Akpoyibo; President, Asteven Group, Dr. Sunny Akpoyibo; Senate President Bukola Saraki; Deputy Governor of Ogun State, Mrs. Yetunde Onanuga; Commissioner for Commerce and Industry, Ogun State, Mr. Bimbo Ashiru; a guest; and Executive Director, Asteven Renewable Energy Academy, Dr. Magnus Onuoha, during the opening of Asteven Group Centre of Excellence and Renewable Energy Academy at Asese, Ogun State… recently

Why Buhari’s Re-election Declaration is Delayed Omololu Ogunmade in Abuja The presidency at the weekend in Abuja disclosed that President Muhammadu Buhari’s decision to keep Nigerians in suspense on his re-election bid was a deliberate ploy to avoid sabotage. Making this disclosure in an interview with select State House correspondents,

the Special Adviser to the President, Media and Publicity, Mr. Femi Adesina, said the president would continue to keep his intentions close to his chest because those opposed to his re-election could exploit his declaration to sabotage the country.

According to him, the president declaring his ambition about a year to the next election would only give such saboteurs a lot of time to sabotage the country economically and politically, among others. “You know the peculiarity of Nigeria, particularly now. If

the president speaks too early, it’s a problem. There is a lot of sabotage in the country. “You have also heard so many have said, ‘don’t run,’ because they know that if the president runs, other people would just run away because they don’t have the foggiest chance in hell

of beating him. So, they want to discourage him from running. “Now, if he tells you, ‘I’m going to run,’ and elections are still one year away, it gives them one year to sabotage the entire country from all fronts – politically, socially, economically – they would

U d o m a L o s e s B r o t h e r…

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throw everything at him just to dissuade him from running. “So, when you know that, why then speak early? I think it makes a lot of sense for you to keep things close to your chest till it is time for you to then say, ‘ok, I’m running’ by which time they can do less damage,” he explained. Continued on page 10

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PAGE EIGHT KUKAH BLASTS NORTHERN MUSLIM ELITE, SAYS THEY USE RELIGION TO HOLD ONTO POWER Kukah also criticised Governor Nasir el-Rufai of Kaduna State for his handling of the bloody violence and destruction of property in Southern Kaduna in 2017, which resulted in the deaths of several people in that part of the state. Speaking in Kafanchan at the burial yesterday of Joseph Bagobiri, the late Catholic Bishop of the Kafanchan Diocese, Kukah maintained that despite its access to power for years, the North still remained backward and the poorest part of the country. Kukah said: “It is sad that the Northern Muslim elite has used religion to hold onto power to the detriment of even their own people and the larger society. “For despite holding onto power for all these years, the North is still the poorest part of the country, nearly 15 million Muslim children are on the streets with no future in sight. We are, as the governor of Borno would say, the poster child of poverty.” He said Nigeria was facing a very serious crisis more than ever before. According to Kukah, “Death, destruction and destitution have become our lot and nowhere is this more expressed than in Northern Nigeria.” He noted that “today, Boko Haram and the herdsmen and farmers’ clashes are phenomena that are peculiar to the North and Islam”, adding: “We cannot run away from this.”

He warned that the world was changing and Nigerians have a country to build, observing: “Even Usman Dan Fodio (Islamic preacher and founder of the Sokoto Caliphate) said that a society can live with unbelief, but no nation can survive with injustice.” Kukah said the late Bagobiri had lived at a time when clearly the foundation of unity and justice in Kaduna, in particular and Nigeria in general, seemed threatened, stressing that he fought against the marginalisation of the Southern Kaduna people. He declared that no religious leader worth his salt can stand by in the face of visible injustice, stressing that “it will be a mortal sin” to remain aloof to the glaring injustice. According to him, the people of Southern Kaduna had suffered the injustice of deliberate exclusion from all the rungs of local and national politics in the current administration. “They have got to where they are now by the sweat of their brows. We do not ask for pity or sympathy from anyone. We have come so far, not through the state, but in spite of the state in Northern Nigeria. “That is why, as you leave this stadium (in Kafanchan), whether you are going to Abuja, Jos or Kaduna, please look left and right and note if you will see one single federal or major state government structure on the highway.

“All the structures you see as you drive along are the result of the sweat from the brows of our people. “The federal and state governments are absent, Bishop Bagobiri was in the middle of all this.” He, however, commended the administration of former President Olusegun Obasanjo and the former governor of Kaduna State, Senator Ahmed Makarfi for developing Southern Kaduna, and for appointing qualified Southern Kaduna indigenes into positions of authority. He described the late clergyman as a great pastor and a builder of human capital, adding that Bagobiri made his contributions in the development of Southern Kaduna by trying to close the gap left by the neglect of the state and the federal governments. Recalling his (Kukah’s) role in trying to find solutions to the killings in the state, Kukah said he had reached out to the National Peace Committee (NPC) led by former military head of state, General Abdusalami Abubakar (rtd), following which a meeting was held with El-Rufai, and after which the committee undertook a visit to Southern Kaduna. “We wanted to hear from the governor. Essentially, the thrust of his comment was the fact that he was determined to end impunity and that for years, people had gotten away with so much.

“But I was taken aback by his (el-Rufai’s) combative mood and worried if he really and truly understood the issues. “I had already gotten Gen. Abdusalami to agree that after seeing the governor, we would go to Southern Kaduna and he agreed... Next, we went on to Kafanchan the same day and met with a cross-section of leaders from civil society groups – CAN, JNI, etc. Everyone was quite delighted and offered very useful suggestions,” Kukah disclosed. According to Kukah, however, more that one year after the peace committee had submitted its report, there has been no official response from the state government. He said this explanation was necessary to set the records straight and respond to the allegations made by el-Rufai against religious and traditional leaders to the effect that they were somehow part of the problem, stressing that the governor may be right, “but the evidence before me leads to a different conclusion”. Kukah also recalled that in an interview with Channels Television during the crisis, el-Rufai had levelled two accusations against religious leaders of promoting “a policy of exclusion”. Kukah said the governor had also alleged that some church leaders had collected money from missionaries abroad to bury their dead

and to rebuild thousands of churches that had been destroyed. Speaking further, the bishop said: “I am not sure which religious leaders he was speaking of, but at least the two of the most prominent religious leaders in Southern Kaduna would be (late) Bishop Bagobiri and the Emir of Jema’a. “It is interesting that when the interviewer pressed the governor for evidence on the graves and the damaging allegations he had made against these leaders, he seemed rattled and simply said the security agencies were gathering the information and that people (who had carried out the killings) will soon be prosecuted.” Kukah went on to state that the 2019 elections were looming and no one was being prosecuted for the violence in Southern Kaduna last year. “The elections are coming and still we have not commenced prosecution. As I have said, my encounter and experience with both the Emir of Jema’a and Bishop Bagobiri led me to a totally different conclusion... “By his own admission, the governor said that a thousand churches had been destroyed in Southern Kaduna and that people had lost their lives. “Yet, his one grouse was that these leaders were collecting money from good wishers abroad to

bury their people. “This was a clear case of self-indictment by the governor. First, did he expect that the people of Southern Kaduna would wait for him to come and supervise the mass burial of their people after burying the Shiites in mass graves? “By casting aspersions on missionary assistance, the governor betrayed troubling ignorance of the causes of the crisis we have faced. “The work of missionaries may be a problem for him today, but for the people of Southern Kaduna, the message of Christ is steeped in their blood. “Without the missionaries, they would be no better than slaves, mere beasts of burden. Without the missionaries, the history of Northern Nigeria would be pathetic and the region would still be in the dark ages... “There is neither retreat nor surrender because this is the faith of our fathers. It has given us the tools, the courage and the confidence we require to take our rightful place in our society. “Apart from Barewa College, which other prominent institution in Kaduna State does not owe its origin to the missionaries? All the socalled government schools in Kaduna State are products of the criminal and unjust take over of missionary schools by the state government,” he added.

account for over 90 per cent of exports and at least half of fiscal revenues,” it stated. Nigeria emerged from its first recession in 25 years in the second quarter of 2017, with the economy growing in real terms by 0.8 per cent last year, compared to a contraction of 1.6 per cent in 2016. The recovery was driven by improving oil prices, increased foreign currency inflows, and strong agriculture sector performance. Oil production also stabilised at about 1.9 million to 2.1 million barrels per day, after disruptions in 2016. In the near term, S&P estimated that the economy would grow at 2.4 per cent in 2018, compared with its previous forecast of three per cent, noting further that growth would average 2.8 per cent between 2018 and 2021. “Overall, we forecast that Nigeria’s gross general government debt stock (consolidated debt at the federal, state, and local government levels) will average 27 per cent of GDP for 2018-2021, comparing favourably with peer countries’ ratios. “We also anticipate that general government debt, net of liquid assets will average 18 per cent of GDP in 2018-2021. “We include debt of the Asset Management Corporation of Nigeria (AMCON); around five per centof 2018 GDP, that was created to resolve the nonperforming loan (NPL) assets of the Nigerian banks--in our calculation of gross and net debt. “Over 70 per cent of government debt is denominated

in naira. Despite the relatively low government debt stock, general government debtservicing costs as a percentage of revenues are high and have increased in recent years from below 10 per cent in 2014 to our projection of over 20 per cent on average, in 2018-2021. “The central government alone has debt servicing costs of close to 50 per cent of revenues, which in our opinion, limits fiscal flexibility. The steep increase in the ratio is due to a combination of declining oil revenues since 2014 and higher borrowing costs in the domestic market. “The government has borrowed externally to fund maturing short-term domestic debt obligations, which are costly, as a way to reduce borrowing costs,” it explained. S&P also noted that following years of heightened risks, the operating conditions for the Nigerian banking sector has started to improve due to the gradual economic recovery, rising oil prices, increasing U.S. dollar supply in the banking system, and the country’s successful tapping of the Eurobond market. “The majority of banks have overcome their short-term liquidity challenges. We expect muted loan growth as well as gradual improvements in asset quality and profitability, with top-tier banks faring better than the sector average. “Capital adequacy remains exposed to an unexpected weakening of the naira and weak internal capital generation because of the potential provisioning shortfalls and pressure on net interest margins on the back of the federal

government’s conversion of part of its short-term debt to longer-dated U.S. dollardenominated debt. “We understand that banks have received guidance to report their year-end 2017 results with naira exchange rate at about $1 to N330. “In addition, the CBN has restricted banks from distributing dividends if their NPLs ratio exceeds the five per cent regulatory limit. “We may see some banks convert their banking licence to a national one to meet the lower minimum capital adequacy ratio. “The introduction of the one per cent additional buffer has been suspended for now to avoid putting further pressure on banks,” it stated.

CBN FIXES APRIL 3 AND 4 FOR MPC MEETING The MPC was unable to hold its first meeting last January because it could not form a quorum. This arose from the July 2017 resolution of the Senate to suspend all confirmation processes for presidential nominees whose offices are not specifically listed in the 1999 Constitution. The resolution was made after Vice-President Yemi Osinbajo, by his remark, exacerbated the rift between the Senate and the Executive over the rejection twice of the nomination of Mr. Ibrahim Magu as Chairman of the Economic and Financial Crimes Commission (EFCC) by the upper legislative chamber. Osinbajo had said since the EFCC was not specified in the Constitution, there was no need to have sent the nomination to the Senate in the first instance. The Senate thereafter resolved to suspend consideration of all such nominees, pending the legal determination of its power of confirmation. However, due to the importance of the MPC meetings to the economy, the Senate reconsidered its stance last week on the CBN nominees and gave its Committee on Banking and Financial Institutions one week to screen them. THISDAY had also exclusively reported that the CBN would have to defer the March MPC meeting originally slated for today and tomorrow by a few days, owing to the timeframe given to the Senate committee to conclude its work. Confirming the postponement, CBN governor, Mr. Godwin Emefiele said last week that the

Bank’s Committee of Governors would decide on a new date for the meeting of the MPC. When contacted yesterday, CBN spokesman, Mr. Isaac Okorafor said the Committee of Governors had now slated the meeting of the MPC for April 3 and 4, adding: “We are grateful that the Senate reconsidered its stance on our nominees, given the importance of the MPC to the country’s economic well being. “The new dates, we hope, will give the Senate the time it needs to conclude the screening and confirmation process of the nominees of the president.” The nominees for the deputy governorship posts of the central bank are Mrs. Aisha Ahmad and Mr. Edward Adamu, while the nominees to be considered for the MPC are Professor Adeola Festus Adenikinju, Dr. Aliyu Rafindadi Sanusi, Dr. Robert Chikwendu Asogwa and Dr. Asheikh A. Maidugu. Meanwhile, one of the leading global rating agencies, S&P, has affirmed its ‘B/B’ long and shortterm sovereign credit ratings on Nigeria and assigned a “stable outlook” on the country. In its sovereign rating released at the weekend, S&P also affirmed its long and short-term Nigeria national scale ratings at ‘ngBBB/ngA-2’. According to S&P, the stable outlook signals its assessment that non-oil-sector improvements could support higher economic growth and fiscal revenues over the next 12 months. However, the agency warned that it may lower its ratings if it does not see the significant fall in fiscal deficits that it

anticipated in its base case, but pointed out that it could raise its ratings on Nigeria if it sees much higher economic growth prospects than its base case or the country’sexternal liquidity indicator improves, perhaps due to further accumulation of international reserves alongside an extension of external debt maturities. “The ratings on Nigeria are supported by moderate external indebtedness and a relatively low general government debt stock,” the rating agency said. S&P also expressed concern about high debt service cost in Nigeria. “The ratings remain constrained by our view of the country’s low economic wealth, weak institutional capacity, lower real Gross Domestic Product (GDP) per capita trend growth rates than peers at similar development levels, and low monetary policy credibility. “Economic performance is still weak, with trend growth below peers. Nigeria’s current pace of economic growth remains low relative to peers, with similar wealth levels. “Political decision-making in Nigeria can be unpredictable since government institutions are relatively weak. Despite underlying tensions and complexities, Nigeria is a democratic system that has weathered a transfer of power between different political parties. “Nigeria is a sizable producer of hydrocarbons. The oil sector’s direct share of nominal GDP is officially estimated at about 10 per cent, but oil and gas

TOP GAINERS NGN NGN CUTIX 0.12 2.69 JOHNHOLT 0.02 0.54 COURTVILLE 0.01 0.30 FBNHOLDINGS 0.30 11.70 FIDSON 0.11 5.25 TOP LOSERS NGN NGN FIDELITYBANK 0.24 2.31 JAPAUL 0.06 0.67 MCNICHOLS 0.06 1.14 DANGSUGAR 1.10 20.90 ETERNA 0.30 5.70 HPE Nestle Nig Plc ₦1,380 Volume: 426.729 million shares Value: N 7.098 billion Deals: 5,191 As at 16/3/18 See details on Page 35

% 4.6 3.8 3.4 2.6 2.1 % 9.4 8.2 5.0 5.0 5.0

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NLC Opposition Puts African Free Trade Deal in Jeopardy Blamed for cancellation of Buhari’s Rwanda trip Alexander Enumah in Abuja The objection raised by the Nigeria Labour Congress (NLC) to Nigeria becoming a signatory to the framework agreement for establishing the African Continental Free Trade Area (CFTA) has cast an air of uncertainty on the fate of the trade deal, and has been blamed for President Muhammadu Buhari’s sudden cancellation at the weekend of his scheduled trip to Kigali, Rwanda, today. Buhari was billed to attend the Extraordinary Summit of the African Union (AU) in the Rwandan capital with other African leaders to sign the CFTA agreement on Wednesday, in pursuit of the AU 2063 vision. The agreement is expected to allow free trade among all countries that sign it. But a spokesperson for the Ministry of Foreign Affairs, Tope Elias-Fatile, in a statement yesterday, said Buhari cancelled the trip in order “to allow more time for input from Nigerian stakeholders�. Sources at the presidency also revealed that the advanced team of the president’s entourage travelled to Kigali on Friday but has been asked to return home. The Federal Executive Council (FEC), last week, had approved Nigeria’s participation and signing of the agreement. Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, while briefing journalists in the State House, had said FEC gave the green light for Nigeria to sign the agreement, pointing out that the president would be in Kigali on Wednesday to sign the agreement. He also said FEC resolved that Nigeria should bid for the location of the secretariat of CFTA in the country, in view of Nigeria’s outstanding role during the negotiation process. “The council approved for Nigeria to sign the agreement establishing CFTA in Kigali on March 21, which will be signed by our president at an extraordinary session of the AU. “It also approved for Nigeria to express an interest in preparing a bid to host the secretariat where it will operate. “Nigeria has played a leadership role in the negotiations. Our chief negotiator and Director-General of the Nigerian Office for Trade Negotiations was the chairperson of the negotiating technical team. “Also, the African Ministers for Trade and Group was chaired by myself and so, if we played a leading role in this

NEWS NIBSS: Nigerian Lenders Lost

Two Million Customers in Two Years Despite CBN's effort to promote financial inclusion, Nigerian banks lost over two million customers between 2016 and 2017, with several customers abandoning their accounts‌ Page 50

EDITORIAL The elephanT Killer Of idanre

In a devastating blow to conservation of wildlife in Nigeria, an ignorant hunter last week shot and killed an elephant at Janiyi Camp, Idanre, Ondo State after which he took photographs with the animal’s remains as proof of his crime. Page 15

POLITICS Buhari’sVisits: A Huge

Disappointment If President Muhammadu Buhari’s purpose of visiting some troubled states was to assure the people of their security, then the visits were not just a failure, but a waste of taxpayers’ money, writesTobi Soniyi Page 18 Buhari

negotiation, we feel that it is better to lead than to follow. “Therefore, we also got approval to express an interest in the secretariat of CFTA, so that the headquarters will be located in Nigeria. “Obviously, we are expecting it to be a competitive process but Nigeria will be interested. “We also got approval for the Nigerian Office for Trade Negotiations among the ministries, departments and agencies (MDAs) and the private sector to work together and continue to the next stage of the negotiations. “The first stage is the overall framework establishing CFTA. The next is the protocol on trade in goods and associated annexes; also a protocol on trade in services, and finally, the protocol on rules and procedures for the settlement of disputes,� Enelamah said. However, the NLC kicked against Nigeria’s participation in the continental free trade agreement, saying it could affect the nation’s manufacturing sector and lead to job losses. President of NLC, Ayuba Wabba, had expressed the trade union’s opposition to the trade deal, saying: “We at the Nigeria Labour Congress are shocked by the sheer impunity or blatant lack of consultation in the process that has led to this. “We are more worried by the probable

outcome of this policy initiative if it is given life because of its crippling effect on local businesses and the attendant effect on jobs. “We have no doubt this policy initiative will spell the death knell of the Nigerian economy. Accordingly, we urge Mr. President not to sign this agreement either in Kigali or anywhere. We believe our national interest is at stake and nothing should be done to compromise this.� Asked to respond to the claim that there were insufficient consultations, Enelamah had said that his foreign affairs counterpart, Mr. Geoffrey Onyeama, had been mandated to widen consultations with stakeholders, including the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA). He said: “The conclusion we reached was that it is very important that in doing the agreement, we are clear that we are doing is good for Nigeria. We want it to generate more exports. “The African market is 1.2 billion people, Nigeria accounts for 180 million of this. We have an ambitious economic agenda, and we are going into this wanting to clearly improve market access for our products and our people. “We are also going into it wanting to protect our markets from unfair trade practices – dumping, smuggling and all the other things that can go wrong.�

in the future. Adesina also explained that the reason the president had proposed a visit to Rivers State, despite its criticism by the state governor, Nyesom Wike, who had said the state was crisis-free. Adesina said the president’s intention was to condole with the families of victims of various killings in the state, saying a state where people were beheaded could not be devoid of crisis. “If he (Wike) doesn’t understand, the rest of the country understands. We understand. Other Nigerians understand. Even people in Rivers State understand because on new year's day, a minimum of 24 people were killed in Omoku. “So, is that not a crisis? And can you count the number of people that have been beheaded in Rivers State

FEATURES Invoking the Gods against

Human TraďŹƒckers In a bid to an end the menace of human trafficking in Edo State, the Oba of Benin, Oba Ewuare II, in conjunction with traditional priests in the kingdom‌ Page 20

BUSINESS Expert: 30% of Nigerian Bound

Cargoes Diverted to Other W’African Countries Nigeria has continued to lose enormous revenue as 30 per cent of the 65 per cent of cargoes destined for Nigeria are diverted to other West Africa countries‌ Page 23

CITYSTRINGS Worsening Apapa Roads

Ugo Aliogo, in this report, takes a look at the challenges faced by drivers and other road users in accessing Apapa andTin Can ports Page 42

INTERNATIONAL Putin Set for Fourth Term with

WHY BUHARI’S RE-ELECTION DECLARATION IS DELAYED Although the president has alluded to re-contesting the presidential election in 2019, he has not declared it definitively, keeping Nigerians on the tenterhooks on his real intentions. One instance when he dropped a hint on his interest in seeking re-election in 2019 was when he paid a state visit to Kano last year. He had said: “Kano is in my pocket.� The state voted overwhelmingly for Buhari in the 2015 elections, giving him 1.903 million of the 2.13 million valid votes cast. Also, while on a visit to Abidjan, Cote d’Ivoire last year, the president said he arrived late to a meeting with the Nigerian community because he had insisted on coming with two governors, as doing so could be a vote for him

Two-Minute BrieďŹ ng

in recent times? “People were killed and heads cut off and the assailants went away with the heads. So, can anybody say that there is no security issue in that kind of place? “It’s left to the governor, he’s the chief security officer. If he says there’s no security crisis in his state, good luck to him. “But the president is visiting so that he can condole with people who lost their loved ones, 24 people minimum, were killed in Omoku. “So, those people are the reason. Those people and the many beheaded; relations of those beheaded and their heads taken away are the reason the president is visiting the state,� he explained.

74% of Vote Vladimir Putin won Russia’s presidential election on Sunday with almost 74 percent of the vote, AFP cited an official exit poll, as revealing‌ Page 48

SPORTS Super Eagles’ Camp

opens in Wroclaw Today Super Eagles players invited for the international friendly between Nigeria and Poland scheduled for Friday March 23, 2018 are expected inWroclaw this afternoon. Page 55

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COMMENT

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

THE LAGOS STATE WATER POLICY Lagos State water abstraction policy is ill-advised, argues Oseloka H. Obaze

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he essence of public policy is to serve public interest, not to suffocate the public. Any public policy, which even with the best of intention becomes punitive, must be repudiated. Lagos State with all its developmental strides and accomplishments is treading precariously close to foisting some egregious and illiberal public policies, in the name of good governance - but in actuality, simply to fulfil its fixation on raising its internally generated revenue (IGR). This trend does not represent the seeds of change, since the reality is contrary to what seems natural. Lagosians are exemplary and proud. But Lagosians are moaning. Gov. Akinwunmi Ambode’s government is developmentally proactive. He continues to build on the solid and massive infrastructural foundation of the Tinubu and Fashola administrations. That trajectory should be applauded. But the Lagos State government under his watch has also gone into a self-destructive governmental overreach, with the enforcement of its illiberal water abstraction policies that focuses singularly on one phrase in the extant law; “regulate allowable returns.� It needs recalling that it was a famous Lagosian, Fela Anikulapo Kuti who presciently produced and sang the song, “Water No Get Enemy�. Yet it Gov. Ambode seems bent on making water enemy of Lagosians. Water in Lagos is already fraught with ironic contradictions. Water everywhere but none to drink. When rain water comes to Lagos the deluge follows. Barbeach water rising is fun but mostly pain. Lagos rain water contains the sewer system, not the other way round; and because Lagos water table is high, Lagos is afloat. One shared commonality for those living in Lagos -an ever expanding megapolis - is the scarcity of potable water, a basic requirement for modern civilisation and living. Supply of clean and potable water was an MDGs target, which Lagos like other Nigerian States failed to meet within a 15-year timeframe. As an alternative to the government’s dismal failure to provide clean potable water for its population, most Lagosians, from Agbara to Ipaja; from Isolo to Ikorudu; Ajah to Epe, and from erstwhile Maroko to Ajegunle, have long resorted to self-help of private boreholes and water wells. Many Lagosians fall within the ranks of numerous Nigerians determined recently to consume water tainted by faeces. Now, Lagos State insists that abstracting water, which it does not supply to its citizens, is suddenly a highly taxable luxury. That is policy overkill as well as balderdash. Lagos State Water Regulatory Commission is unapologetically doling out huge water bills, not for services rendered by the commission, but for services Lagos State has failed to render. Enforcing the extant law under the Lagos Water Sector Law No. 14 of 2004, the commission, seems to have come alive to its mandate responsibilities, which inter-alia, is to “regulate the production, supply and use of water, quality of service and charges payable to ensure viability of the sector and regulate allowable returns.� Regrettably, the commission seems fixated on the last three words of its functions, “regulate allowable returns.� This sort of policy attitude makes democracy draconian, and has the capacity of triggering civil disobedience. After all law is made for man, and therefore, should be compassionate. At last check, Lagosians who are already drooping under a huge tax burden, are now expected to pay for registering to source borehole

LAGOS STATE WATER REGULATORY COMMISSION IS UNAPOLOGETICALLY DOLING OUT HUGE WATER BILLS, NOT FOR SERVICES RENDERED BY THE COMMISSION, BUT FOR SERVICES LAGOS STATE HAS FAILED TO RENDER

water privately; for license to abstract borehole water; for constructing treatment plans for borehole water; and for waste water treatment plants. These charges are all renewable annually. It’s ironic, that were Lagos State to meet its statutory responsibility of providing clean potable water to all and sundry, this multiplicity of individual efforts at sourcing water will not arise. The state would simply charge “water rate� and “sewer rate� based on consumers’ actual usage. Four years before I re-entered government in 2012 as a policymaker, I had advised Gov. Peter Obi of Anambra State against pursuing a similar public policy of charging Anambra citizens for abstracting water. I warned about the futility of such a public policy that would amount to double jeopardy; a government that failed to meet its obligation to the people, turns around to penalise the people for its failings. Thankfully, Gov. Obi heeded my advice. A decade later, the matter has resurfaced in Lagos State. It’s either that enforcing the policy in the extreme was not well debated by Lagos policymakers or that the government feels it can get away with murder, in the name of development. Such counterintuitive thinking in the policy realm is defeatist. The downside of this faux policy is not just that it’s ill-advised, but that it’s hare-brained, despite its huge revenue generation attraction. What after all is the strength and role of government? The strength of government derives from its delivery of good governance and public services. It lies not in generating internal revenue (a necessary evil) by any means, but in providing basic services. Those who crafted the Lagos law were smart but impetuous. They understood fully that under scrutiny, some of the envisaged “returns� would not qualify as “allowable�. So they opted for a fishing expedition modality, to see how much they might get away with. The present policy has one salutary side: it offers Lagosians, public policy watchers, consumer advocates and Nigerians at large, a compelling threshold to test the constitutionality of such illiberal public policies in court. Unchallenged, Lagos State will get away with everything. If also left unchecked, Lagos will have the impetus to start charging for air rights, electric generator noise nuisance fees and taxes on installation of eco-friendly solar panels in homes, and for water displacement fees payable by the legion of Lagos slum dwellers who defecate into the Lagos lagoon due to lack of public toilet facilities. With a successful legal challenge, Lagos and other states will soon enough learn from the court ruling that such illiberal policies are unfeasible. The vexatious upshot is that Lagos State is wilfully enforcing a public policy that amounts to governmental overreach. For a state with the highest tax regime in the nation, LASG ought not to punish Lagosians for its inability to meet its statutory responsibilities. Such governmental excesses must be checked. Meanwhile, Gov. Ambode should be advised to rethink this water abstraction policy. Water a life’s necessity, cannot constitute a taxable luxury whimsically. Also, Ambode should be mindful that globally, water is already listed as a major source of conflict. He does not need water pitting the people against the state government ahead of general elections in 2019. Obaze, is MD/CEO of Selonnes Consult Ltd.

WHO IS REALLY FIGHTING CORRUPTION? Adamu Ardo-Inde argues that the National Assembly is doing its bit to tame the cancer

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ne of the major issues in political circle now is whether the Abubakar Bukola Saraki-led Eighth Senate is supporting the anti-corruption war of the federal government. The present All Progressives Congress (APC) administration in Nigeria headed by President Muhammadu Buhari came to power on the strength that it would tackle corruption, eliminate insecurity and rebuild the economy. However, it is debatable whether the government has fulfilled the promises. There are indications that the fight against corruption is not living up to the pre-2015 billing. An indication of this growing public perception is the falling international rating of the administration in the anti-graft campaign. According to the latest Corruption Perception Index (CPI) released by Transparency International (TI), Nigeria has dropped 12 places in its corruption perception index. Also, President Buhari stirred the hornet’s nest when during the Ghanaian Independence Anniversary early last month he declared in Accra that he would help Ghana in its fight against corruption. The statement was roundly condemned in the social and traditional media, both in Nigeria and Ghana. One of the commentators described the Buhari speech as that of ‘a candidate who got F9 in an examination and is promising to help a colleague with C6 grade to make better grades’. However, the relevant question here is: Whose fault is this widely perceived failure of the Nigerian anti-corruption war? Is it that of the Saraki-led Senate or the Buhari-led Presidency? There had been buck-passing on the issue of who is responsible for the slow pace of the anti-corruption war. And the loudest group has been the pro-Buhari group who alleged that the National Assembly is frustrating the efforts of the executive in fighting corruption. This

group has always claimed that because some senators, particularly, the former governors among them, who are under-going investigations on corruption charges, there is the possibility that they would not want the anti-corruption war to succeed. There is also the allegation that the National Assembly has not been enacting necessary laws as proposed by the executive to help tackle the menace of corruption. In a response to that claim, some other commentators have argued that the executive is the one undermining the anti-corruption war through nepotism, favourtism, selective justice and dithering on key cases, such that it is widely believed that pilfering of money in government coffer is ever rampant in the Nigeria of Buhari era. The National Assembly, through the Senate, has supported its claim on who should bear the blame of the failing anti-corruption war by stating that it has been at the forefront of exposing high levels of corruption in government while the executive has not done its part to prosecute those that have been exposed. Such cases as stated by the group include: The Babachir David Lawal Case - The Senate exposed the former Secretary to the Governement of the Federation (SGF). Babachir Lawal’s culpability in several contract scam in which funds meant for taking care of internally displaced persons (IDPs) in the North East zone were diverted into private pockets. Specifically, there was a N200 million said to be spent on grass-cutting and the contracts were awarded to a computer company owned by the SGF. Two committees, one in the Senate and another one headed by Vice-President Yemi Osinbajo indicted the former SGF. Yet, it took President Buhari over nine months to sack the man and up till now, he still has not been prosecuted. The Ayodele Oke Case - Also, months after the committee headed by Vice-President Osinbajo indicted the former Director General of

the National Intelligence Agency (NIA) over the $43million cash in Ikoyi Flat scandal, the man has not been prosecuted. The NHIS Case- Also, Prof. Usman Yusuf, the Director General of the National Health Insurance Scheme (NHIS) that was suspended over allegations of financial misappropriation by the supervising minister, Prof. Isaac Adewole was arbitrarily recalled and re-instated without recourse to the report of the on-going investigation by the Economic and Financial Crimes Commission (EFCC). The IGP case- When Senator Isa Hama Misau leveled allegations of misappropriation of funds against the Inspector-General of Police, Mr. Ibrahim Kpotum Idris instead of the government to investigate the allegations and allow the IG to seek redress if he feels he has been defamed, the government sought to intimidate the senator by filing criminal charges against him. Revelations Before House of Representatives - The world is also still watching the apathy by President Buhari to the revelations made before the House of Representatives Committee on National Security and Intelligence on November 6, 2017 by a former Acting Director General of NIA, Mr. Mohammed Dauda, on how some named acolytes of the President who were members of the re-organizing committee for the agency mounted pressure on him to steal the $44 million recovered from the Ikoyi house. “They wanted money for medical treatment or holidays abroad for their families and girlfriends�, Dauda stated. Till today, no action from the President. The Chief Registrar Case - We are also sure the world is waiting for a credible explanation on why the Attorney General of the Federation withdrew the charges against the Chief Registrar of the Supreme Court, Ahmed Saleh, and two others who were arraigned at an FCT High Court for fraud

involving N2.2 billion and for obtaining N80 million gratification. In the same vein, there are other allegations of corrupt practices leveled against top members of the executive arm which are simply swept under the carpet. Again, the Saraki-led Senate has concrete facts to show that they have done so much in terms of law making to strengthen the institutions charged with fighting corruption and ensure they are able to deliver on their mandate. For instance, the Senate has already passed the following bills that are aimed at fighting corruption in Nigeria: The Mutual Assistance in Criminal Matters Bill, which is aimed at enhancing the collaboration and mutual assistance between the Nigerian government and its foreign counterparts. This bill will also help to facilitate the identification, tracing, freezing, restraining, recovery, forfeiture and confiscation of proceeds of crime wherever they are located; the Whistleblower Protection Bill, which will encourage the disclosure of improper conduct by persons, public officers and corporate bodies, private and public; the Nigerian Financial Intelligence Unit (NFIU) Bill, which, in line with international best practices, establishes a substantive and autonomous financial intelligence unit in Nigeria, that will promote the exchange of information with all countries on issues that relate to criminal intelligence and financial investigations that deal with money laundering, terrorism financing, proliferation of arms, corruption, financial crimes and economic crimes; the Witness Protection Bill, which creates a programme in Nigeria that protects witnesses who provide vital information, evidence or render assistance to law enforcement agencies during investigations, enquiries or prosecutions. Ardo-Inde wrote from Yola

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EDITORIAL THE ELEPHANT KILLER OF IDANRE The authorities could do more to protect wildlife across the country

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stood the importance of environment, there is a lot of ignorance about how losing some species of plants and animals can have disastrous impact on the rest of the ecosystem. By killing a rare animal dubbed ‘gentle giant’ because of its harmless nature right in its natural habitat, the damage done to Nigeria’s image is huge. We therefore call on the authorities to ďŹ nd the hunter and bring him to justice if only to deter others from believing they can go into our game reserves and kill protected animals without consequences.

n a devastating blow to conservation of wildlife in Nigeria, an ignorant hunter last week shot and killed an elephant at Janiyi Camp, Idanre, Ondo State after which he took photographs with the animal’s remains as proof of his crime. While the rest of the world may be laughing at us, it should worry the authorities that despite the establishment of protected areas, hunters can now freely enter many of our game reserves to kill protected animals. It is a shame that a nation which once had the most diverse population of elephants in the world can now boast only a few because they have been hunted almost to extinction. The Idanre Forest Reserve, where the latest tragedy took place, covers 561 square kilometres and is a designated nature reserve of the International Union for Conservation of Nature. Legal and regulatory frameworks in wildlife conservation in the country date back to the colonial era. The Forestry Act and Wild Animals Act were patterned after the 1933 London Convention for Protection of African Fauna. This was updated by the Conservation of Biological Diversity and International Law, 1990 UNEP, IT IS UNFORTUNATE Nairobi.

THAT A NATION WHICH ONCE HAD THE MOST DIVERSE POPULATION OF ELEPHANTS IN THE WORLD CAN NOW BOAST ONLY A FEW BECAUSE THEY HAVE BEEN HUNTED ALMOST TO EXTINCTION

Some of the major problems of the Nigerian forest elephants, according to conservationists, are forest conversion for other uses, habitat loss and fragmentation, poaching for their ivory, among others. The Nigeria Conservation Foundation (NCF) has always argued that the populations of forest elephants are in dire need of protection, because only about 200 of them remain in the wild in the ďŹ ve sites in southern Nigeria. The nation’s other elephant community, known as Savannah specie, is found in the north and they are better protected at Yankari National Park in Bauchi State. Apparently because Nigerians have still not under-

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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.

SO IGP IDRIS DISOBEYED BUHARI?

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he first task of Ibrahim Idris, Inspector-General of Police (IGP), when he assumed office in 2016, was to probe Solomon Arase, his predecessor. Idris had alleged that Arase privatised official vehicles on his departure, rendering him “immobile�. But this turned out to be a ploy by the IGP to ingratiate himself with President Muhammadu Buhari. The zeitgeist at the time was “fighting corruption�, and Idris was trying as much as he could to show himself an anti-corruption crusader. Even then, I knew this IGP was a joker. Idris’ tenure has been one of vile controversy; controversy after controversy. When the World Internal Security and Police International Index ranked the Nigeria police as the worst in the world, the IGP and his team rustled up fictive excuses to defend of their incompetence. Inebriated by power, Idris had two journalists – Daniel and Tim Elombah - arrested for a critical report allegedly published on their blog. The IGP’s one in many attempts to intimidate the press.

he ownership of wildlife in the country is vested in the federal government, according to Section 20 of the National Park Service Act, which states: “The ownership of every wild animal and wild plant existing in its natural habitat in, National park and anything whatsoever, whether of biological geomorphologic or historical origin or otherwise, existing or found in a National park is hereby vested in the federal government and subject to the control and management by the federal government for the beneďŹ t of Nigeria and mankind generally.â€? Notwithstanding, there should be deliberate initiatives to protect the nation’s wildlife, even if this has to be done in collaboration with private partners, who have expertise in the ďŹ eld. For instance, at Yankari, there is a whole lot of protection work being done by the Wildlife Conservation Society (WCS) in collaboration with the Bauchi State government, which runs the park. The WCS has its Elephant Guardian programme to reduce the conict between humans and elephants and it has helped to improve the level of tolerance towards elephants and the crop damage inicted. While we call on the federal government to do all within its powers to protect the nation’s wildlife by taking its conservation responsibilities more seriously, it is also important that Nigerians be enlightened on the issues of environment. As things stand, only organised conservation work, government support and enlightenment and good habitat management are capable of saving the forest elephant species from extinction in Nigeria.

When news of herdsmen killings in Benue broke, the IGP without carrying out any investigation said it was a “communal clash� – a streak of sycophancy. He later apologised for the gaffe, but the action showed the undertow of his underbelly. And when the president asked him to relocate to Benue State to stop the killings, this IGP visited the state and returned to Abuja a few days later to celebrate his 59th birthday. He stayed in the Federal Capital Territory afterwards. It is not surprising that he flouted the president’s order. Idris is a splitting example of the average Nigerian policeman, who derelicts duty and who is abrasive, uncouth, defensive and power drunk. However, I find it incredible that the president was not aware of the IGP’s dereliction of duty. One thing is clear though, it is either the president was genuinely not aware of it or was not made aware of it. In all, I think Nigerians have had enough of this IGP and his fancy of controversies. Fredrick Nwabufo, fredricknwabufo@ yahoo.com

CHAIRMAN MAO IS BACK

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ne of the things that endeared Deng Xiaoping — the father of modern China — to the Chinese rank and file was his magnanimous gesture of retaining Mao Zedong— the founder of modern China — in his place in history. Any other leader would have erased all that Chairman Mao stood and still stand for. But Paramount Leader Xiaoping being himself couldn’t allow his comrade, notwithstanding his undoing, to be cast into the dustbin of history. So from Tiananmen Square to any government building in China, the giant portrait of Chairman Mao hangs. It all started after the defeat of Chiang Kai Shek and the establishment of the People’s Republic of China. Chairman Mao harnessed a powerful cult of personality by purging many of his comrades in arms (Deng Xiaoping included). Thus establishing the dictatorship of Mao rather than the dictatorship of proletariat that Marx talked about. The dictatorship of Mao was marked by two policies that brought China on its

knees — The Great Leap Forward and the Cultural Revolution. It took the intervention of Deng Xiaoping to reverse the equation. And in so doing, constitutional term limit and collective leadership were established. Deng Xiaoping and other senior leaders of Communist Party of China (CPC) vowed that they would never let a single individual accumulate so much influence like Mao again. It is this beautiful system that made China a unique dictatorship that the incumbent Chinese president — Xi Jinping — has overturned. The old constitution allows a once in a decade transition of power and leadership recruitment. With the term limit removed in an almost unanimous vote last Sunday by the National People’s Congress, President Xi is set to rule indefinitely . Chairman Mao has returned. He is Xi Jingpin in spirit. “Power tends to corrupt,� Lord Acton famously wrote in 1887, “and absolute power corrupts absolutely.� Let’s see how it goes with President Xi. Jonathan Asikason, jonoster10@gmail. com

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Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 07054786260 SMS ONLY

POLITICS

M O N D AY D I S C O U R S E

Buhari’s Visits: A Huge Disappointment If President Muhammadu Buhari’s purpose of visiting some troubled states was to assure the people of their security, then the visits were not just a failure, but a waste of taxpayers’ money, writes Tobi Soniyi

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fter insisting that there was no reason whatsoever for him to visit states that were ravaged by herdsmen and militias’ attacks and devastated by kidnapping by Boko Haram, President Muhammadu Buhari finally dropped his ‘I don’t care’ attitude and paid belated visits to the states. Before he made up his mind to embark of the visit, the president must have weighed the desirability or otherwise of the visits. He also chose to ignore critics like the opposition Peoples Democratic Party which described the visit as a mere cosmetic and an afterthought. Belated though, it is better late than never. Most Nigerians appreciated the fact that the president eventually visited these states. However, the trips to the states reinforced what they already knew about the president: he is not a proactive president. Therefore, he could be forgiven for going to the troubled states this late. Are the states any better than they were before the president’s visit? The answer is no. Forget what government officials tell you, the people are truly disappointed by the presidents’ visit. In trying to justify why he did not visit the states immediately after the attacks, the president in Taraba State said he had network through which he received intelligence which kept him on top of happenings nationwide and therefore there was no need for him to rush to troubled states. However, while in Benue, the president admitted that he was not being fed with correct information on what is happening in these states. He admitted not knowing that the Inspector General of Police, Abubakar Idris did not relocate to Benue as directed by him. As simplistic as this sounds, it raises fundamental issues. How reliable is the intelligence the president is being fed with everyday? What does the president know and what does he not know about these killings? Now that it has become obvious that vital information, such as the police boss’ refusal to stay in Benue, is being hidden from the resident, how will the president make rational policy decision in the face of incomplete and unreliable intelligence? The second leg of the issue has been debated widely on social media: what should happen to an inspector general of police who disobeys the president’s lawful directive? The answer appears simple enough for many but very difficult for the president. If you appoint someone to help you govern well and the opposite is what you get everyday, the proper decision to take is to relieve the person of his appointment. Simple. As a result of the president’s inability to take decisive decisions, many of the people he appointed are no longer afraid to disobey his instructions. Remember the former Secretary to the Government of the Federation Babachir Lawal’s famous reaction to his suspension - ‘who is the presidency?’ Not long ago, the Minister for Women Affairs, Hajia Jumai Al Hassan publicly pledged her loyalty to former vice president Atiku Abubakar. There are many more acts of insurbodination in this government which the president is not even aware of or is aware of but does not know threaten his authority as president.

Buhari..can’t seem to figure out how to stop the killings

the president would give such assurances. Yet the killings continue. The president had barely left Plateau when the herdsmen struck again. The Benue State Government had also expressed displeasure over the president’s failure to address critical issues during his visit to the state. Mr Tahav Argezua, the Special Adviser, Media and ICT to Governor Samuel Ortom said the state expected Buhari to address the threat by herdsmen that they would wipe out citizens of the state. Speaking on Channels TV Sunrise programme, Argezua said, “The president was in Benue but failed to address the situation on ground. Some set of people issued a threat six months back to kill Benue people. These people did not just execute this threat by killing hundreds of people, they also destroyed property worth billions of Naira and displaced over 170,000

Expectation Dashed While in Benue, the president said he could not overlook killings in the state even as he promised the people improved security. So far, his conduct seems to prove otherwise. To say that the president’s visit did not meet the expectation of the people would not be an overstatement. Suffice to point out that it is difficult to rely on the assurance of improved security made by the president. That was not the first time

People need security. There must be deterrent. When peoples’ right is trampled upon, read the riot act and give order against arrogant blood thirsty killers

people. “The Benue people were expecting the president to tell them why these people, who issued these threats have not been arrested.” He also spoke on the query the president gave to the Inspector General of Police for failing to comply with the directive to relocate to Benue, Argezua said: “We are not concerned about the president giving the IG a query, our major concerns are that we have over 170,000 displaced people in our internally displaced persons’ camps. “The governor asked the president to come to the aid of the IDPs because the state resources have been over stressed. We are still waiting to hear from the president.” So far, the president has been carrying on as if providing security amounts to doing Nigerians a great favour. The constitution guarantees Nigerians right to life but everyday they are killed like fowls why we literally have to beg the president to do his job and protect the people in accordance with his oath of office. Let us assume that it is difficult to stop the killings before they happen but why is it so difficult to arrest those who perpetuate the killings? Why can’t we prosecute them? The argument that prosecution of crimes is not exclusive to the federal government alone does not hold water. The police, under the control of the president, are expected to investigate crimes and submit report to the office of the

Attorney General whether of state or of the federation for advice. How many killer herdsmen had been arrested by the police and handed over to the Benue State’s Attorney General or the Attorney General of the Federation for prosecution?

Like Benue, Like Plateau Before he travelled to Benue, Buhari had visited Plateau, a state that has had its fair share of killings. While there, the president promised to stop the killings. Hardly had the president left the state when killers herdsmen went on rampage. The situation forced the Plateau State Council of Chiefs and Emirs to express concern. The council condemned the incessant killings perpetrated by suspected Fulani herdsmen with a call on the government to intervene and intensify efforts at ending the bloodletting. The monarchs also faulted the interpretation that the killings in Plateau State were communal clashes. They also expressed shock that the perpetrators of the killings were bold enough to strike even on the day when Buhari visited Plateau State. The chairman of PSCCE and Gbong Gwom Jos, His Royal Majesty, Jacob Buba Gyang, who spoke at the end of the monarchs’ quarterly meeting held in his palace said: “I want to say without any doubt that the killings in Plateau CONT’D ON PAGE 19

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MONDAY DISCOURSE BUHARI’S VISITS: A HUGE DISAPPOINTMENT

State are not communal clashes. If anybody says so, let them mention the communities involved in the clashes. “They are normal security challenges involving farmers and herdsmen, armed robbery and many others. What we have witnessed in Bokkos and Irigwe chiefdoms in Bassa cannot be interpreted as communal clashes. To the best of my knowledge the attackers came from outside. The villagers don’t go outside to attack “We had Mr. President here a few days ago, we thank God that his visit was successful and he left Plateau peacefully. But of great concern is the fact that when Mr. President was still here, there were very serious killings in Bokkos Local Government Area and Bassa LGA here, particularly in Irigwe chiefdom that is very close.” Others in attendance at the meeting included the Long Geomai Shendam, HRH Miskoom Shaldas 3rd; Long Tehl, HRH Donal Puntel; Emir of Wase, HRH Alhaji Mohammed Sambo Haruna; Emir of Kanam, Alhaji Babangida Muazu Mohammadu; Agwom Izere, Rev. Dr. Isaac Azi Wakali and Long Pan, HRH Nda Emmanuel Dabang. The traditional rulers regretted the killings and destruction of property during the president’s visit. They also expressed grave concern. Despite the assurance given by the president in Plateau, the herdsmen struck, the people of Benue would be foolish to rely on similar assurance by the president.

In Plateau, President’s Visit Opened a Can of Worms The president’s visit ended up pitting the state governor, Simon Lalong against the minister for sports, Solomon Dalung. No sooner had the president left Plateau than a war of words started between the minister and the governor. The minister on Facebook launched a scathing attack on the governor. He objected to the decision of the governor to name a portion of the road leading into Jos from Abuja as Muhammadu Buhari Way saying that the road had previously been named after former military head of state and a respected Plateau man, General Yakubu Gowon. The minister who prefaced his posting on his Facebook page with the biblical injunction ‘that you shall know the truth and the truth shall set you free,’ said: “Another disaster of the president’s visit was the renaming of Yakubu Gowon way to Muhammadu Buhari way. To say the least, it is embarrassing. Gowon was the president’s boss. How can he be stripped of a 40- year privilege and honour in his home state? This is the worst thing that can happen to a man like the elder statesman. I believe that General Gowon is feeling betrayed and abandoned by his own people. “Also Mr. President was misled to believe that all the road networks in Jos metropolis were constructed by Governor Alert. It was morally wrong for Lalong to fail to acknowledge that it was Governor Jang’s legacies. I was an ardent critic of Governor Jang’s administration but I will not fail to credit his legacies because of differences. The only projects Lalong did are the road to his house and 40 tractors.” It appeared that the minister was irked by the governor’s decision not to give him a prominent role to play in the president’s visit as he noted that the governor did not initially invite him for the presidential visit and that even when he got a belated invitation, he was ignored during the town hall meeting as he was not allowed to speak. The minister’s outburst did not go down well with the authorities in Plateau. The chairman of the state chapter of the All Progressives Congress (APC), Latep Dabang quickly reacted. He said: “For Dalung to make such nonsensical remarks, it shows that he is just like a mad man on the street. As far as we are concerned, governance is about continuity not about personality. President Buhari came to the Plateau to commission projects that have and will better the lives of ordinary citizens. He did not simply come to commission only projects initiated by Governor Lalong alone. “Is Dalung suggesting that because we commissioned some projects that Jonah Jang initiated, that we bring back Jonah Jang to commission them? That’s just silly. “So for a minister in the capacity of Dalung’s standing to ridicule himself by making such ridiculous remarks –and by countering what his boss (the president) has said is frankly,

Soyinka..wants justice for victims

very pathetic. It shows that Dalung is a man who is not well, he is sick in the head.” The state’s commissioner for information, Yakubu Dati did not also spare the minister. He said: “This is a minister who has been a monumental embarrassment to Plateau State due to his illogical comments in the past like when he said Nigeria can never win the World Cup or when he said Nigerian athletes do not need to prepare to win tournaments. “It is instructive to note the APC has never won election in his ward or his local government of Langtang South. “The existing Yakubu Gowon way starts at Ta’en junction through building materials – Zarmaganda junction, Miango – old airport junctions, through secretariat overhead bridge and ends at Plateau Specialist Hospital roundabout.” In his response, the minister said he was of a sound mind because mad people did not possess capacities to raise weighty issues. He said: “As a leader he (the party’s chairman) should be interested in reconciliation rather than escalating situations. “The Commissioner of information, Yakubu Datti, also must be appreciated for his response which only attempted to relocate the weighty issues about the state to personality feud. It is pardonable, because he doesn’t know anything about the party in Plateau State. His ranting effortlessly to demean my person is a character trait Yakubu Dati is known for. As the information machine of the government, I expected him to delve on issues and not attacking my person. “I cannot thank him enough for his explanation of the renaming of Yakubu Gowon way but again he appeared confused or deliberately

The thinking in government is that herdsmen have the right to graze in any part of the country

economical with the truth. May be to satisfy his employer or because he is still battling with resettlement. He lacks the moral burden to address the issues. “I am not surprised that since his compensation as commissioner for propaganda, Plateau communities can no longer know peace. No wonder, during the guided town hall meeting, there were attacks going on in Daffo, Bokkos LGA. “Thank God Dati knew that I am from Sabongida in Langtang South LGA, but can he show us his father’s house in Mikang LGA? It is true that I did not win my ward in the last elections but I am a founding member of APC, not a political refugee fleeing away from PDP into our party to escape justice for dubious antecedents. “In any case, can Yakubu Dati answer those questions I raised about the loan profile of the state? Where is the $2 billion (N20 billion) loan collected from African Development Bank for potatoes processing factory payable in 25 years? Where is the factory located? Or where is the money kept and whose account? Why did the state government keep the issue of the loan secret? What is happening to LG funds? What is happening to 5% meant for the traditional council? And if peace has returned to Plateau, why was the local government election suspended because of security concerns? Is it not true that Governor Jang constructed all the roads in Jos and Bukuru metropolis except for state low cost -Dong road?”

Without Justice, No Healing People have been killed but no one was held accountable for their death. Many have been displaced and are living in camps yet the president can not ask them to go back to their settlement because he can’t not guarantee their security. Speaking in Lagos on the theme: “Rebuilding Trust in a Divided Nigeria,” Nobel Laureate, Prof. Wole Soyinka was surprised that the minister of defence, who was quoted as saying that “what do you expect them (herdsmen) to do when you block their path,” is still in President Muhammadu Buhari’s cabinet till date. He said rather than asking that the president should visit places where Book Haram or herdsmen have perpetrated havoc, Nigerians should be demanding for justice.

“Who needs sympathy? Is it sympathy that will reorder things? Justice is what we need. That is what we are talking about. Sympathy is ordinary commodity. People need security. There must be deterrent. When peoples’ right is trampled upon, read the riot act and give order against arrogant blood thirsty killers. “There must be the courage to decree such monster group as terrorist organisation. Who needs a weeping president? One organisation has been descending on the people and their representatives are on television. Their spokesperson says the killings are taking place because of the laws made to stop the killings.”

Mindset is the Problem Except the president and members of his kitchen cabinet change their perception on herdsmen killings, the country is not likely to see a solution soon. The president and his security chiefs wrongly hold the view that the herdsmen-farmers’ clashes are caused by misunderstanding between different communities. The Inspector General of Police had publicly attributed the clashes to lack of understanding between two people. The Minister of Defence, Dan Ali said it was the promulgation of antigrazing bills by states that is causing the clashes. With this perception and mindset, is anyone still surprised that herdsmen-farmers clashes continue unabated? This is why the killings will continue. This is why no one is being prosecuted for the killings. The herdsmen understand the government’s mindset and are taking advantage of it. That is why the government can not show the same decisiveness with which it tackled the Indigenous Peoples of Biafra. While Dr Goodluck Jonathan was in power, herdsmen were not this bold. It is the attitude of the present regime that has emboldened the herdsmen. As long as Buhari remains the president people in vulnerable states such as Plateau, Benue and Taraba should prepare for a long haul as far as attacks by herdsmen are concerned. This government has difficulty understanding why some states would not allow herdsmen to walk freely across their states. The president and his security chiefs need to be educated on the limitation to the rights of herdsmen and how to manage conflicting interests. The thinking in government is that herdsmen have the right to graze in any part of the country.

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

Invoking the Gods against Human Traffickers In a bid to an end the menace of human trafficking in Edo State, the Oba of Benin, Oba Ewuare II, in conjunction with traditional priests in the kingdom, invoked the gods of the land against those aiding and abetting the illicit trade in the state, writes Adibe Emenyonu

T

he illicit trade in human trafficking appeared to have become a hydra-headed monster. This is so because those who are involved in the nefarious business are in high places. Besides, the trade has continued to flourish because those involved in it are faceless. They merely make use of agents or middle men who do the act of recruiting, harbouring, transporting, providing or obtaining a person for compelled labour or commercial sex acts through the use of force, fraud or coercion on their behalf. The real financiers and beneficiaries stay at the background to provide the necessary support and assistance whenever things go awry because of their connections with people in high places. This accounted for why even with the awareness created, a lot of people still embark on taking the risk to travel to Europe for forced labour. Unlike what happened in the days of Trans-Atlantic and Trans-Saharan Slave Trade, where victims were captured and forced into slavery, the victims in this "modern day slavery", are usually young children, teenagers, men and women who are either lured or by themselves volunteer to go overseas in search of the proverbial greener pastures. The situation is made worst because of the common local factors associated with the search for better conditions to overcome poverty, oppression, lack of human rights, lack of social or economic opportunities, dangers from conflict or instability and similar conditions. Most times, victims are subjected to one form of oath taking or swearing-in the name of one deity or the other to be of good behaviour or face the consequences of tick headedness. Once this oath of allegiance is obtained, the victim remains perpetually under the control of the master/mistress until the fellow is satisfied beyond unreasonable doubt that his/her greed has been satiated. To make matters worse, even churches have been fingered for serving as recruitment centres through pastors who pretend to pray for would be traffickers. At the centre of this orgy is Benin City, the capital of Edo State. To this extent, it has become a transit point for other states of the federation because within the city, all manner of tricks are devised to turn candle into electricity in a bid to ensure the illicit trade blossoms. Not too long ago, the Christian Association of Nigeria (CAN) in Edo State vowed to go after pastors that pray for human traffickers,

Oba Ewuare II, Oba of Benin with some Palace chiefs and aides, during the curse placing ceremony

Oba Ewuare II...wants a stop to human traďŹƒcking

Those aiding and abetting human trafďŹ cking through the use of black magic and subjecting them to the oaths of secrecy should desist from it henceforth or face the wrath of the gods‌This is not a joking matter and if you do not repent, you have to wait for the repercussion

describing trafficking in persons as a sin against God and man. The Christian body also condemned the act of selling of anointing oil and handkerchiefs to those who volunteered to be trafficked. Bishop Oriname Oyonude Kure, chairman of the state CAN, who addressed journalists in Benin, frowned at the activities of traffickers, which had led to deaths of thousands of youths. According to Bishop Kure, "Any pastor involved in the act, either through prayers or directly, is an enemy of the church. The Bible is the spiritual force that binds us all as Christians. Anyone involved in human trafficking, while claiming to be a pastor, is lying. CAN is saying to such pastors, repent. God is against it, our culture is

against it, our religion is against it and CAN condemns it in totality." Besides, CAN, national also lent its voice to the crusade against trafficking in persons. Its National President, Rev. Samson Ayokunle, had in a statement signed by his Special Assistant, Media and Communications, Pastor Adebayo Adedeji, urged the federal government to overhaul the security agencies in the country for effective and efficient service delivery. In spite of all these, however, the buying and selling in human beings have refused to reduce. This perhaps, triggered the traditional dimension deployed by the Oba of Benin, Oba Ewuare II, on Friday, March 9, 2018 to lay curses on human traffickers. Also cursed were the native doctors who subject victims of human trafficking to oaths

of secrecy, violators of the order banning Community Development Associations and others whose business is to initiate the sons and daughters of the land into various cult groups. An oath taking process, according to victims, involve the invocation of parts of their bodies as collateral to force them pay back the money spent by the agents who facilitate their journey to Europe where they end up either as prostitutes especially for the females. During the cursing process, Oba Ewuare II said: "Those aiding and abetting human trafficking through the use of black magic and subjecting them to the oaths of secrecy should desist from it henceforth or face the wrath of the gods.� According to the monarch, "You native

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Some of the traditional priests at the ceremony

A cross section of palace chiefs and traditional priests at the ceremony

doctors whose businesses are to subject people to the oaths of secrecy and encouraging this evil act on the land, you have to repent, stop doing it. This is not a joking matter and if you do not repent, you have to wait for the repercussion." He warned that anyone persisting should be ready to face the wrath of the gods and directed the traditional priests present to revoke the curses and oaths already placed on trafficked victims. The Edo paramount ruler said henceforth those who are under oaths of secrecy have been set free and at liberty to air their views and reveal their sponsors without fear of any harm from their sponsors. "We want to use this medium to tell those

who are under any oaths of secrecy that they are now free. We revoke the oath today," he prayed. The royal father said the interest of the palace is to work for the development and progress of the state and that all hands must be on deck to work towards that direction

We want to use this medium to tell those who are under any oaths of secrecy that they are now free

by doing what is right. "What the Palace stands for is peace and the development of the state. I want to use this medium to tell you that the act of using charms to aid trafficking, the palace seriously frowns at it. "We want us to join hands together to fight against human trafficking in the land," he said, adding that there have been positive reports about Edo State and that such positive report must be sustained. The Oba said the state governor, Mr. Godwin Obaseki, has pleaded with him to help reduce the spate of human trafficking in the state adding that before now, he has been in the vanguard against human trafficking in the state.

The state, he pointed out, have had enough of the embarrassment that comes with human trafficking and it is time to put an immediate end to it. He stated that while the palace has nothing against the practice of native medicine, it will not condone a situation where it is used to “perpetrate evil in the land through aiding and abetting human trafficking.� Those who took part in the swearing exercise were the Ohen Okhuae, Ohen Ovia, Ohen noriyekeogba, Ohen Ake, Ohen Niwuo, Native Doctors, Ohen Sango, Odionwere, Iwueki and the Enigies. However, time will tell the potency of the curses on perpetrators of human trafficking by the Benin traditional system.

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BUSINESSWORLD

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

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THUMBS DOWN Nigeria’s Porous Territorial Waters

COMMEMORATING GLOBAL MONEY WEEK

Managing Director/Chief Executive Designate, Sterling Bank Plc, Mr. Abubakar Suleiman; Business Manager, Sterling Bank Plc, Owerri, Mrs. Onyema Val-Obiajulu and a student of Owerri Girls’ Secondary School, Owerri, Miss Chiamaka Kalu, at the 2018 Financial Literacy Day celebration in Owerri, Imo State ‌ recently

Expert: 30% of Nigerian Bound Cargoes Diverted to Other W’African Countries rMAN, NACIMMA accuse shipping companies Eromosele Abiodun Nigeria has continued to lose enormous revenue as 30 per cent of the 65 per cent of cargoes destined for Nigeria are diverted to other West Africa countries due to the failure by successive governments in Nigeria to put in place appropriate policies to reverse the trend. Managing Director and Chief Executive Officer of Cowry Asset, Mr. Johnson Chukwu, who made the revelation over the weekend, said that only 30 per cent of the cargoes are discharged in Nigeria because of high import charges, bad port roads and rarity of port infrastructure to facility trade.

MARITIME This is just as local manufacturers and other industry operators in the country have cried out over high charges by shipping companies, describing it as a cankerworm that has forced so many companies into extinction. The stakeholders, including the Manufacturers Association of Nigeria (MAN) and National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACIMMA), Association Of Nigerian Licensed Customs Agents (ANCLA) and National Association of Government Approved Freight Forwarders (NAGAFF),

among others who gathered at a maritime industry summit in Lagos over the weekend, bemoaned the effect of high port charges on the survival of their businesses. In his keynote address on ‘Port Charges: How Plausible,’ at the first National Conference of Shipping Correspondents Association of Nigeria (SCAN), in Lagos, Chukwu wondered why Nigeria should allow Cote d’Ivoire to build the largest seaport in Africa when a larger chunk of cargoes are destined to Nigeria. According to him, right now, Nigeria is rated the largest supplier and manufacturer of cement but there is no effort to

put facilities in place to export the product. He warned that if the common ECOWAS tariff is fully implemented, Nigeria will lose businesses because the common ECOWAS tariff means that once a tariff is paid in one country, no other tariff will be paid in any other country in West Africa. To this end, he absolved the terminal operators of the high charges, pointing out that the operators, having faced a lot of infrastructural challenges which impact negatively on their business, it makes some business sense if they hike charges to Continued on page 24

THISDAY Model Portfolios Plunge to 37% on ProďŹ t Taking Goddy Egene Following huge profit taking in most of the stocks that made up the THISDAY Model Portfolio (TMP), it plunged from 44.2 per cent the previous week to 36.7 per cent last week. The TMP had hit a record high the previous week and expectations were that as corporate earnings for the full year were released, it would rise further. Although three banks reported impressive results and recommended higher dividends, investors’ reaction remained negative. This led to a decline in the

CAPITAL MARKET Nigerian Stock Exchange (NSE) All-Share Index that fell by 2.9 per cent last week as investors maintained sell pressure. In line with that negative trend, the TMP fell from a record high of 44.2 per cent to 36.7 per cent last week. The TMP is an initiative of THISDAY Economic and Financial Intelligence Unit (TEFIU), designed to enable leading stockbrokers and investment houses in the country share their trading skills and methodologies with

ordinary investors. The investment houses involved in the project are Afrinvest Limited, FSDH Securities Limited, Capital Assets Limited, Meristem Limited and Lead Advisory Limited . It comprises five different portfolio types constructed individually in conjunction with five leading stockbroking firms in the country with different investment objectives. Each of the partner stock broking houses constructed a portfolio of 10 stocks selected according to their individual best judgement and using their best and well tested stock selection and investment

Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? ĂžĂ?ĂœĂœĂ“ĂžĂ™ĂœĂ“Ă‹Ă– ĂĄĂ‹ĂžĂ?ĂœĂ? Ă’Ă‹Ă Ă? Ùà Ă?Ăœ ÞÒĂ? ĂŁĂ?Ă‹ĂœĂ? ĂœĂ?Ă—Ă‹Ă“Ă˜Ă?ĂŽ Ă Ă?ĂœĂŁ ĂšĂ™ĂœĂ™Ă&#x;Ă?Ë›

Ă˜ Ă?Ă‹Ă?ĂžËœ Ă“Ă˜Ă Ă?Ă?ĂžĂ“Ă‘Ă‹ĂžĂ“Ă™Ă˜Ă? Ă’Ă‹Ă Ă? ĂœĂ?Ă Ă?Ă‹Ă–Ă?ĂŽ ÞÒËÞ Ă‹ ÖÙÞ Ă™Ă? Ă“Ă–Ă–Ă?Ă‘Ă‹Ă– Ă‹Ă?ÞÓà ÓÞÓĂ?Ă?Ě‹ ĂšĂ“ĂœĂ‹Ă?ĂŁËœ ÙÓÖ ĂŒĂ&#x;Ă˜Ă•Ă?ĂœĂ“Ă˜Ă‘Ëœ Ă?Ă—Ă&#x;Ă‘Ă‘Ă–Ă“Ă˜Ă‘Ëœ Ă’Ă&#x;Ă—Ă‹Ă˜ ĂžĂœĂ‹Ă?Ă?Ă“Ă?Ă•Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?Ă&#x;Ă˜ĂŽĂœĂŁ ĂžĂœĂ‹Ă˜Ă?Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă?ĂœĂ“Ă—Ă?Ă? ÞËÕĂ? ÚÖËĂ?Ă? Ă“Ă˜ ÞÒĂ? Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? ĂžĂ?ĂœĂœĂ“ĂžĂ™ĂœĂ“Ă‹Ă– ĂĄĂ‹ĂžĂ?ĂœĂ? Ă&#x;Ă˜Ă’Ă“Ă˜ĂŽĂ?ĂœĂ?ĂŽËœ ÚÙĂ?Ă“Ă˜Ă‘ Ă—Ă‹Ă”Ă™Ăœ ĂžĂ’ĂœĂ?Ă‹ĂžĂ? ÞÙ Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă?Ă?Ă?Ă&#x;ĂœĂ“ĂžĂŁ Ă‹Ă˜ĂŽ Ă?Ă?Ă™Ă˜Ă™Ă—Ă“Ă? ĂŽĂ?Ă Ă?ÖÙÚ×Ă?Ă˜ĂžË› Ă’Ă?Ă?Ă? Ă?ĂœĂ“Ă—Ă“Ă˜Ă‹Ă– Ă‹Ă?ĂžĂ? Ă™Ă?ĂžĂ?Ă˜ ĂœĂ?Ă?Ă&#x;Ă–Ăž Ă“Ă˜ Ă–Ă™Ă?Ă? Ă™Ă? Ă–Ă“Ă Ă?Ă?Ëœ ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă’Ă‹ĂœĂ— Ă™Ăœ Ă’Ă™Ă?ÞËÑĂ?Ě‹ ĂžĂ‹Ă•Ă“Ă˜Ă‘ Ă™Ă? Ă?Ă?Ă‹Ă?Ă‹ĂœĂ?ĂœĂ?Ëœ Ă‹Ă?Ă“ĂŽĂ? Ă?Ă“Ă‘Ă˜Ă“Ă?Ă“Ă?Ă‹Ă˜Ăž ĂŽĂ“Ă?ĂœĂ&#x;ĂšĂžĂ“Ă™Ă˜Ă? ÞÙ Ă?Ù××Ă?ĂœĂ?Ă? Ă‹Ă˜ĂŽ Ă˜Ă‹Ă Ă“Ă‘Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă?Ă“Ă˜Ă‹Ă˜Ă?Ă“Ă‹Ă– Ă–Ă™Ă?Ă?Ă?Ă? ÞÙ Ă?Ă’Ă“ĂšĂ™ĂĄĂ˜Ă?ĂœĂ? Ă‹Ă˜ĂŽ ĂŽĂ‹Ă—Ă‹Ă‘Ă? ÞÙ ÞÒĂ? Ă—Ă‹ĂœĂ“Ă˜Ă? Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜ĂžË› Ă’Ă? Ă˜ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă‹ĂœĂ“ĂžĂ“Ă—Ă? Ă&#x;ĂœĂ?Ă‹Ă&#x; Ă?ÞËÞĂ?ĂŽ Ă–Ă‹Ă?Ăž ĂŁĂ?Ă‹Ăœ ÞÒËÞ ËÞÞËĂ?Ă•Ă? ĂŒĂŁ Ă?Ă?Ă‹ ĂŒĂ‹Ă˜ĂŽĂ“ĂžĂ? Ă™Ă?Ă? ÞÒĂ? ÙËĂ?Ăž Ă™Ă? Ă?Ă?Ăž Ă?ĂœĂ“Ă?Ă‹ Ă‹ĂœĂ? Ă™Ă˜ ÞÒĂ? Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă? Ă“Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹Ë› Ă?Ă™ĂœĂ—Ă?Ăœ Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ă’Ă‹ĂŽ Ă˜Ă™ĂžĂ?ĂŽ ÞÒËÞ ÞÒĂ? Ă?Ă™Ă&#x;Ă˜ĂžĂœĂŁ Ă–Ă™Ă?Ă?Ă? Í°ÍłÍŽĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă‹Ă˜ĂŽ Ă‹ĂŒĂ™Ă&#x;Ăž Í˛ÍŽÍŽËœÍŽÍŽÍŽ ĂŒĂ‹ĂœĂœĂ?Ă–Ă? Ă™Ă? ÙÓÖ ĂšĂ?Ăœ ĂŽĂ‹ĂŁ ÞÙ Ă—Ă‹ĂœĂ“ĂžĂ“Ă—Ă? Ă?ĂœĂ“Ă—Ă?Ă?Ë› Ă–Ă?Ă™ ĂœĂ?Ă?Ă?Ă˜ĂžĂ–ĂŁËœ ÞÒĂ? ĂšĂ?Ă‹Ă•Ă?Ăœ Ă™Ă? Ă™Ă&#x;Ă?Ă? Ă™Ă? Ă?ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ‹ĂžĂ“Ă Ă?Ă?Ëœ Ă‹Ă•Ă&#x;ĂŒĂ&#x; Ă™Ă‘Ă‹ĂœĂ‹ raised the alarm that the Nigeria’s territorial waters have become more ĂšĂ™ĂœĂ™Ă&#x;Ă?Ë› ĂšĂ?Ă?Ă“Ă?Ă“Ă?Ă‹Ă–Ă–ĂŁËœ Ă’Ă? Ă?ÞËÞĂ?ĂŽ ÞÒËÞ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă–Ă™Ă?Ă?Ă? Ă‹Ă? Ă—Ă&#x;Ă?Ă’ Ă‹Ă? ÍľĂžĂœĂ“Ă–Ă–Ă“Ă™Ă˜ annually in the maritime sector due to leakages in revenue generation Ă‹Ă˜ĂŽ Ă“Ă˜Ă?Ă?Ă?Ă&#x;ĂœĂ“ĂžĂŁ Ă“Ă˜ ÞÒĂ? ĂĄĂ‹ĂžĂ?ĂœĂĄĂ‹ĂŁĂ?Ë› Ă? Ă?Ă‹Ă“ĂŽ ÞÒËÞ Ă?Ă?Ă Ă?ĂœĂ‹Ă– ËÞÞËĂ?Ă•Ă? ĂĄĂ?ĂœĂ? ĂœĂ?ĂšĂ™ĂœĂžĂ?ĂŽ Ă™Ă?Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? Ă?ÙËĂ?Ăž ÞÒËÞ Ă“Ă˜Ă Ă™Ă–Ă Ă?ĂŽ ĂšĂ“ĂœĂ‹ĂžĂ?Ă? Ă?ĂžĂ?Ă‹Ă–Ă“Ă˜Ă‘ Ă?Ă‹ĂœĂ‘Ă™Ă?Ă? Ă™Ă? Ă?ĂœĂ&#x;ĂŽĂ? ÙÓÖ Ă‹Ă˜ĂŽ ĂšĂ?ĂžĂœĂ™Ă–Ă?Ă&#x;Ă— ĂšĂœĂ™ĂŽĂ&#x;Ă?ĂžĂ?Ë› Ă’Ă? Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă“Ă˜Ă‘ Ă–Ă?Ă Ă?Ă– Ă™Ă? ËÞÞËĂ?Ă•Ă? Ă‹Ă˜ĂŽ à ÓÙÖĂ?Ă˜Ă?Ă? Ă“Ă˜ ÞÒĂ? Ă&#x;Ă–Ă? Ă™Ă? Ă&#x;Ă“Ă˜Ă?Ă‹Ëœ ÞÒĂ? Ă?ĂšĂ?Ă‹Ă•Ă?Ăœ Ă˜Ă™ĂžĂ?ĂŽËœ Ă’Ă‹ĂŽ Ă‘Ă“Ă Ă?Ă˜ ËŤ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă‹Ă˜ĂŽ ÙÞÒĂ?Ăœ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă“Ă˜ ÞÒĂ? Ă?Ă&#x;ĂŒĚ‹ĂœĂ?Ă‘Ă“Ă™Ă˜ very damaging and negative image in addition to an estimated monthly Ă–Ă™Ă?Ă? Ă™Ă? ÍœÍŻË›Íł ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜Ë›ËŹ Ă•Ă?ĂŁ ÚÖËãĂ?Ăœ Ă“Ă˜ ÞÒĂ? Ă—Ă‹ĂœĂ“ĂžĂ“Ă—Ă? Ă?Ă?Ă?ĂžĂ™Ăœ Ă’Ă‹ĂŽ Ă‹Ă–Ă?Ă™ ĂŽĂ“Ă?Ă?Ă–Ă™Ă?Ă?ĂŽ ÞÒËÞ Ă?Ă™ĂœĂ?Ă“Ă‘Ă˜Ă?ĂœĂ? Ă‹ĂœĂ? ĂŽĂ™Ă—Ă“Ă˜Ă‹ĂžĂ“Ă˜Ă‘ Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? Ă?ÙËĂ?ÞËÖ Ă?Ă’Ă“ĂšĂšĂ“Ă˜Ă‘ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ëœ Ă“Ă˜ Ă Ă“Ă™Ă–Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒĂ? ÙËĂ?ÞËÖ Ă‹Ă˜ĂŽ Ă˜Ă–Ă‹Ă˜ĂŽ Ă’Ă“ĂšĂšĂ“Ă˜Ă‘ Ă?Ăž Ě™ Ă‹ĂŒĂ™ĂžĂ‹Ă‘Ă?̚˛ Ă’Ă? Ă‹ĂŒĂ™ĂžĂ‹Ă‘Ă? Ă?Ăž Ă?ÞÓÚĂ&#x;Ă–Ă‹ĂžĂ?Ă? ĂžĂ’Ă‹ĂžËœ ËŤ Ă Ă?Ă?Ă?Ă?Ă– ÙÞÒĂ?Ăœ ĂžĂ’Ă‹Ă˜ Ă‹ Ă Ă?Ă?Ă?Ă?Ă– åÒÙÖÖã Ă™ĂĄĂ˜Ă?ĂŽ Ă‹Ă˜ĂŽ Ă—Ă‹Ă˜Ă˜Ă?ĂŽ ĂŒĂŁ Ă‹ Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă?ÓÞÓäĂ?Ă˜Ëœ ĂŒĂ&#x;Ă“Ă–Ăž Ă‹Ă˜ĂŽ ĂœĂ?Ă‘Ă“Ă?ĂžĂ?ĂœĂ?ĂŽ Ă“Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă?Ă’Ă‹Ă–Ă– Ă˜Ă™Ăž Ă?Ă˜Ă‘Ă‹Ă‘Ă? Ă“Ă˜ ÞÒĂ? ÎÙ×Ă?Ă?ÞÓĂ? Ă?ÙËĂ?ÞËÖ Ă?Ă‹ĂœĂœĂ“Ă‹Ă‘Ă? Ă™Ă? Ă?Ă‹ĂœĂ‘Ă™ Ă‹Ă˜ĂŽ ÚËĂ?Ă?Ă?Ă˜Ă‘Ă?ĂœĂ? ĂĄĂ“ĂžĂ’Ă“Ă˜ ÞÒĂ? Ă?ÙËĂ?ÞËÖ ĂžĂ?ĂœĂœĂ“ĂžĂ™ĂœĂ“Ă‹Ă– Ă“Ă˜Ă–Ă‹Ă˜ĂŽ ĂĄĂ‹ĂžĂ?ĂœĂ?Ëœ Ă™Ăœ Ă‹Ă˜ĂŁ ĂšĂ™Ă“Ă˜Ăž ĂĄĂ“ĂžĂ’Ă“Ă˜ ÞÒĂ? ĂĄĂ‹ĂžĂ?ĂœĂ? Ă™Ă? ÞÒĂ? Ă?âĂ?Ă–Ă&#x;Ă?Ă“Ă Ă? Ă?Ă?Ă™Ă˜Ă™Ă—Ă“Ă? Ă¤Ă™Ă˜Ă? Ă™Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ë›ËŹ Ă’Ă? Ă“Ă?Ă?Ă&#x;Ă? Ă‹Ă‘Ă‹Ă“Ă˜ Ă?Ă‹Ă—Ă? ÞÙ ÞÒĂ? Ă?Ă™ĂœĂ? Ă–Ă‹Ă?Ăž ĂĄĂ?Ă?Ă•Ëœ ĂĄĂ’Ă?Ă˜ ÞÒĂ? Ă™Ă&#x;Ă?Ă? Ă™Ă? Ă?ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ‹ĂžĂ“Ă Ă? Ù××ÓÞÞĂ?Ă? Ă™Ă˜ Ă‹ĂœĂ“ĂžĂ“Ă—Ă? ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă‹Ă?Ă?Þã Ă‹Ă˜ĂŽ ĂŽĂ—Ă“Ă˜Ă“Ă?ĂžĂœĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă˜ĂŽ ÞÒĂ? Ëœ Ă?Ă’Ă‹Ă“ĂœĂ?ĂŽ ĂŒĂŁ Ă&#x;Ă’Ă‹Ă—Ă—Ă?ĂŽ Ă—Ă‹Ăœ Ă‹Ă‘Ă™ ĂœĂ‹Ă“Ă?Ă?ĂŽ Ă?Ă™Ă˜Ă?Ă?ĂœĂ˜Ă? Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ? Ă˜Ă‹ĂžĂ“Ă™Ă˜ËŞĂ? ĂšĂ™ĂœĂ™Ă&#x;Ă? Ă?âĂ?Ă–Ă&#x;Ă?Ă“Ă Ă? Ă?Ă?Ă™Ă˜Ă™Ă—Ă“Ă? Ă¤Ă™Ă˜Ă? Ě™ Ěš Ă‹Ă˜ĂŽ ĂžĂœĂ‹ĂŽĂ“Ă˜Ă‘ ĂŒĂŁ Ă?Ă™ĂœĂ?Ă“Ă‘Ă˜ Ă Ă?Ă?Ă?Ă?Ă–Ă?Ë› Ă‹Ă‘Ă™ Ă‹Ă˜ĂŽ Ă’Ă“Ă? ĂžĂ?Ă‹Ă—Ëœ ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ Ă‹Ă˜ Ùà Ă?ĂœĂ?Ă“Ă‘Ă’Ăž Ă Ă“Ă?Ă“Ăž ÞÙ Ëœ Ă˜Ă™ĂžĂ?ĂŽ ÞÒËÞ ÞÒĂ? Ă‹Ă‘Ă?Ă˜Ă?ĂŁËŞĂ? Ă?Ă‹ĂžĂ?Ă–Ă–Ă“ĂžĂ? Ă“Ă—Ă‹Ă‘Ă? Ă™Ă? ÞÒĂ? Ă?ÒÙåĂ?ĂŽ Ă‹ ÖÙÞ Ă™Ă? Ă Ă?Ă?Ă?Ă?Ă–Ă? Ă™Ăœ ships doing businesses whereas its records showed that it doesn’t Ă‘Ă“Ă Ă? ĂĄĂ‹Ă“Ă Ă?ĂœĂ?Ë› Ă‹Ă‘Ă™ Ă™ĂŒĂ?Ă?ĂœĂ Ă?ĂŽË? ËŤ Ă’Ă?Ă˜ ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ? Ă?Ă‹ĂžĂ?Ă–Ă–Ă“ĂžĂ? Ă“Ă—Ă‹Ă‘Ă? Ă™Ă? ÞÒĂ? Ă“Ă‘Ă?ĂœĂ“Ă‹ Ëœ ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? Ă‹ ÖÙÞ Ă™Ă? Ă Ă?Ă?Ă?Ă?Ă–Ă? Ă™Ăœ Ă?Ă’Ă“ĂšĂ? ĂŽĂ™Ă“Ă˜Ă‘ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ă?Ă?Ë› Ă’Ă?Ă˜ ĂŁĂ™Ă&#x; Ă?Ù×Ă? ÞÙ ĂœĂ?Ă?Ă™ĂœĂŽĂ? Ă“Ăž Ă?ÒÙåĂ? ĂŁĂ™Ă&#x; ĂŽĂ™Ă˜ËŞĂž Ă‘Ă“Ă Ă? ĂĄĂ‹Ă“Ă Ă?ĂœĂ?Ë›

Ă? ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă˜Ă™Ăž Ă‘Ă“Ă Ă“Ă˜Ă‘ ĂĄĂ‹Ă“Ă Ă?ĂœĂ?Ëœ ĂĄĂ’Ă‹Ăž Ă‹ĂœĂ? ÞÒĂ? Ă?Ă™ĂœĂ?Ă“Ă‘Ă˜ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? ĂŽĂ™Ă“Ă˜Ă‘ Ă™Ă˜ Ă™Ă&#x;Ăœ ĂĄĂ‹ĂžĂ?ĂœĂ?ËŁ Ă? ÞÒĂ?ĂŁ Ă‹ĂœĂ? Ă“Ă–Ă–Ă?Ă‘Ă‹Ă–Ă–ĂŁ ĂŽĂ™Ă“Ă˜Ă‘ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă? Ă™Ă˜ Ă™Ă&#x;Ăœ ĂĄĂ‹ĂžĂ?ĂœĂ?Ëœ ĂĄĂ? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă?ĂžĂ?Ăš Ă&#x;Ăš Ă‹Ă˜ĂŽ Ă‹ĂœĂœĂ?Ă?Ăž ÞÒĂ?Ă— Ă‹Ă˜ĂŽ ÞÒËÞ Ă“Ă? ÞÒĂ? ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Ă&#x;Ă˜Ă?ĂžĂ“Ă™Ă˜ Ă™Ă? ˛ˏ Ă?Ă‹Ă?ĂžĂ“Ă˜Ă‘ ÞÙ ËÑÙ˪Ă? Ă™ĂŒĂ?Ă?ĂœĂ Ă‹ĂžĂ“Ă™Ă˜Ëœ Ëœ Ă‹Ă•Ă&#x;Ă•Ă&#x; Ă?ĂžĂ?ĂœĂ?Ă“ĂŽĂ? Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ ÞÒËÞ Ă“Ă˜Ă“ĂžĂ“Ă‹ĂžĂ“Ă Ă?Ă? Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ă˜ ĂŽĂ?ÚÖÙãĂ?ĂŽ ÞÙ Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă? Ă?Ă?Ă?Ă&#x;ĂœĂ“ĂžĂŁ Ă™Ă? ÞÒĂ? Ă˜Ă‹ĂžĂ“Ă™Ă˜ËŞĂ? ĂžĂ?ĂœĂœĂ“ĂžĂ™ĂœĂ“Ă‹Ă– ĂĄĂ‹ĂžĂ?Ăœ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ“Ă˜Ă‘ ÞÒĂ? Ě™ ĚšËœ Ă™Ă˜Ă? Ă™Ă? which is the presidential maritime security intervention which requires Ă?Ă™Ă–Ă–Ă‹ĂŒĂ™ĂœĂ‹ĂžĂ“Ă™Ă˜ åÓÞÒ ÞÒĂ? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă‹Ă˜ĂŽ Ă“Ăœ Ă?Ă™ĂœĂ?Ă? ÞÙ Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă? ÞÒĂ? ĂšĂ‹ĂžĂœĂ™Ă– Ă™Ă? ÞÒĂ? Ă˜Ă‹ĂžĂ“Ă™Ă˜ËŞĂ? ĂĄĂ‹ĂžĂ?ĂœĂĄĂ‹ĂŁĂ?Ë› Ă? Ă‹Ă–Ă?Ă™ Ă?Ă‹Ă“ĂŽ ÞÒĂ? Ă‹Ă‘Ă?Ă˜Ă?ĂŁ Ă“Ă? ĂšĂ&#x;Ă?Ă’Ă“Ă˜Ă‘ Ă?Ă™Ăœ Ă?Ă‹ĂœĂ–ĂŁ ÚËĂ?Ă?Ă‹Ă‘Ă? Ă™Ă? ÞÒĂ? Ă‹Ă˜ĂžĂ“Ě‹ĂšĂ“ĂœĂ‹Ă?ĂŁ ĂŒĂ“Ă–Ă– ÞÒËÞ ĂĄĂ“Ă–Ă– Ă?ĂœĂ“Ă—Ă“Ă˜Ă‹Ă–Ă“Ă?Ă? Ă—Ă‹ĂœĂ“ĂžĂ“Ă—Ă? Ă?ĂœĂ“Ă—Ă?Ă?Ë› Ă“Ă Ă?Ă˜ ÞÒĂ? Ă Ă?ĂœĂŁ Ă?ĂœĂ&#x;Ă?Ă“Ă‹Ă– ĂœĂ™Ă–Ă? ÞÒĂ? Ă—Ă‹ĂœĂ“ĂžĂ“Ă—Ă? Ă?Ă?Ă?ĂžĂ™Ăœ ÚÖËãĂ? Ă“Ă˜ ÞÒĂ? ĂŽĂ?Ă Ă?ÖÙÚ×Ă?Ă˜Ăž Ă™Ă? ÞÒĂ? Ă?Ă?Ă™Ă˜Ă™Ă—ĂŁËœ Ă?âÚĂ?ĂœĂžĂ? Ă’Ă‹Ă Ă? Ă&#x;ĂœĂ‘Ă?ĂŽ Ă‹Ă˜ĂŽ ÙÞÒĂ?Ăœ ÞÒĂ? ĂœĂ?Ă–Ă?Ă Ă‹Ă˜Ăž authorities to be alive to their responsibilities and ensure the maritime Ă?Ă?Ă?ĂžĂ™Ăœ Ă‹ĂžĂžĂ‹Ă“Ă˜Ă? Ă“ĂžĂ? Ă?Ă&#x;Ă–Ă– ÚÙÞĂ?Ă˜ĂžĂ“Ă‹Ă–Ë›

strategies. Each of them then deployed an imaginary fund of N10 million to invest on the 10 stocks in whatever proportions they considered best. An analysis of the TMP for the week ended Friday, March 16, showed that it stood at 36.7 per cent, down from 44.2 per cent. This indicates that the value of the N50 million imaginary fund deployed by the five firms has reduced to N68.386 million, from N72.089 million the previous week. A further analysis of the individual portfolio, showed Continued on page 24

Dakuku Peterside

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BUSINESSWORLD EXPERT: 30% OF NIGERIAN BOUND CARGOES DIVERTED TO OTHER W’AFRICAN COUNTRIES

recover their expenses. President, MAN, Frank Udemba Jacobs, said port charges are major source of worries for the manufacturers and have contributed to high cost of production. Jacobs, who was represented by Niran Olajobi, who called for reasonable ports charges, bemoaned the deplorable of ports access roads and the gridlock, which have contributed to the charges, urged the government to immediately fix the roads. President, NACIMMA, Mrs. Alaba Lawson, commended the federal government on the initiatives of the Presidential Enabling Business Environment Council (PEBEC) for its action plan aimed at creating enabling environment and easy movement of goods across borders, calling for full implementation of the action plan. In her remarks, the Managing Director of Nigerian Ports Authority (NPA), Ms. Hadiza Bala Usman said that NPA as a regulator has a tariff price which encourages a unified charge. Usman, who was represented by the Manager Audit, Mrs. Sarah Oghomienor, however, acknowledged that port charges are designed to cover operational expenses because everybody is in business to make profit. Port charges, she further noted, is a result of all deficiencies like the road infrastructure. But the Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, said that the federal government of Nigeria official gazette no 158 Marine Environment Management (sea protection levy) Regulation 2012 empowers NIMASA to impose levies on all commercially operating vessels of 100 GT and above in Nigerian waters. Peterside who spoke through the Head Shipping Development, Mr. Ogadi Anthony said that the agency introduced the Marine Environment Sea Protection Levy via the Marine Notice dated August 9, 2012.

NEWS

THISDAY MODEL PORTFOLIOS PLUNGE TO 37% ON PROFIT TAKING that Portfolio C maintained the lead at 58.7 per cent. But it is major fall from 67 per cent level of the previous week. This means that the N10 million deployed by the

portfolio stood at N15.871 million as at last week. In the same vein, Portfolio D maintained its second position, having gained 51.7 per cent, which is below its record

high of 65.1 per cent, the previous week. This implies that the N10 million deployed by the portfolio is now worth N15.172 million. Portfolio B, which rose to 55.8 per

cent the previous week, fell to 45.5 per cent last week. This indicates that the N10 million stood at N14.551 million. Similarly, Portfolio A fell from 34 per cent the

previous week to 27.9 per cent last week. This shows that the N10 million deployed, which grew to N13.399 million, two weeks ago, has reduced to 12.791 million.

FMBN: NHF Loans Have Lowest Interest at 6% Ndubuisi Francis and Udora Orizu in Abuja Managing Director, Federal Motgage Bank of Nigeria (FMBN), Ahmed Dangiwa has disclosed that the bank’s National Housing Fund-- the individual mortgage loans granted at 6 per cent interest is the lowest and most affordable in the country. Dangiwa, stated this in Abuja, when members of the Nigeria Institute of Management (NIM) paid him a courtesy visit in his office. He noted that the bank was proud to be associated with foremost profession like the NIM, commending its doggedness and commitment towards promoting efficiency and professionalism in the management of organisations’ human and material resources. According to him, “This why the bank has continued to sponsor our staff to NIM professional development

programmes and we continue doing this in order to enrich our human resources.� He explained that “FMBN was established to act and provide affordable mortgages to drive home ownership among Nigerian workers particularly the low and medium income earners who constitute over 80% of the population and it’s been done through national housing and fund scheme in which Nigerian workers both in the private or public sectors contribute 2.5% of their monthly income.� “Through the scheme, the bank has continued to provide affordable mortgages to Nigeria workers and construction finance to some of the developers for housing development. “Our national housing fund which is the individual mortgage loans granted at 6% is the lowest and most affordable in the country. “We also have the FMBN

home renovation loans with conditions for easy access by Nigerian workers which is being run now to which many Nigerian workers are given minimum of a million naira to renovate their own house. “We have already developed a rental owned project that will soon be launched by management, we have estates in more than ten states that are being completed and we want to commence this rental own as a pilot scheme with them.� Dangiwa, further reassured the visiting team of NIM that, the Bank will continue to sponsor its staff for NIM’s professional and development programmes, and also their commitment to this mutually beneficial relationship, adding that the he will ensure the annual dues are paid. In his remarks, the President/Chairman of Council NIM, Prof Olukunle Iyanda

disclosed that aside food, housing is next in terms of importance of the well -being of the individual, adding that FMBN plays a very crucial role in promoting the well-being of Nigerians and making them proud owners of their own houses. He hinted that, “the NIM is a multi-disciplinary institution founded in 1961 which operates all across the country and all professions are represented in the institute.� Iyanda further added: “We engage in training programmes and also advocacy in challenging areas in Nigeria and make our findings and recommendations known to government in the particular areas of advocacy. “We want to be a part and a contributor to your success through the training programs offered for your members of staff in order to make the achievement of your mandate much more

successful so we therefore invite the FMBN to join the NIM as a corporate member, we want to establish this mutually beneficial relationship to participate in the training of your staff periodically either as nominees to the various training programs that we own or as facilitator for your internal programs for a particular selected group of staff in the bank. He, however appealed to the Managing Director to pay the annual subscription of members of the FMBN who are in the institute in order to maintain discipline which is their code of conduct as professional institute so as to find the most scrupulous and economical ways of getting things done and to be personally themselves above any corruption, unethical practices and in the scope of their responsibilities to give no privileges or favors to anyone.

NCS Seme Command Smashes Smuggling Cartel Eromosele Abiodun

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 (AgriBusiness)

The Seme Command of the Nigeria Customs Service (NCS) has announced that its continued anti-smuggling drive has led to the crackdown on the activities of deviant smugglers along the Seme border. The Customs Area Controller, Mohammed Aliyu in a statement said the smugglers had hitherto refused to heed to the clarion call of the command to desist from cross border crimes through sensitisation and creation of awareness under various platforms. According to him, “The operatives of the command’s enforcement unit acting promptly on classified information, arrested 2,200 cartons of Tin tomato in a

truck with Reg. No. LND 759 XE along the LagosBadagry Express road on the 12th of February 2018. Sixty three (63) front and backlight of used spare parts (light accessories) were also intercepted on the 11th March 2018 in a Siena bus with Reg. No. KRO 530 EP along the Lagos-Badagry Express road. “The goods with DPV of over 6million were all deposited in the government warehouse of the command. It is a routine practice of the command to interface with its stakeholders at various levels for mutual consultation, sensitisation and creation of awareness on the need to comply with the federal government policies on

import prohibitions.� While inspecting the seizures, Aliyu disclosed that the new operational strategies adopted by the command that is intelligent driven is yielding positive results, as victims of noncompliance are nib in the bud by the eagle eye of the enforcement officers and men of the service. Commenting further, the comptroller said that the command’s holistic approach in executing the mandate of the service led to an all-encompassing result as revenue generation, suppression of smuggling and legitimate trade facilitation is adequately enhanced at the Lagos –Abidjan corridor without compromising national security.

He said that the command has generated N1.079 billion in the first two months of 2018 from the expected N1.350 billion target representing approximately 80 per cent of the given target. The command being an international land border, Aliyu admonished officers to ensure that the golden rules for the service operation is always brought to the fore while discharging their statutory functions. He enlightened the officers the need for positive attitudinal change that is vital to the discharge of their professional functions with due diligence. He also warned officers to be aware of the current wind of change blowing

in the service hence the need to key into the reform agenda of the Comptroller General of Customs, Col. Hameed Ali (Rtd.). He added that failure to comply with approved procedures and guidelines in order to avoid infractions will be met with severe disciplinary action that is commensurate with the offence committed in line with the service preventive regulation. He noted that Seme command is no longer a safe haven for illicit activities and trans-border crimes, as any attempt by deviant stakeholders are always met with stiff response/penalties by the proactive officers and men of the command’s anti-smuggling unit.

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Stock Market Sheds 2.9% Despite Improved Corporate Earning Goddy Egene and Nosa Alekhuogie

Index were the only gainers, rising 0.10 per cent apiece. The market depreciated further on Thursday as decline by bellwether stocks dragged the NSE ASI to close at 42,185.38. Commenting on the performance, analysts at FSDH Merchant Bank said: “The sustained sell pressure particularly in banking sector stocks resulted in a number of stocks on offer at the lower limit. Market outlook remains positive with the possibility of a rebound as investors take advantage of low valuations.� Also commenting, analysts at Meristem Securities Limited said: “The market mood has been predominantly bearish this week, save for the positive close on Tuesday, which was driven by the gain on Dangote Cement Plc. There were notable selloffs on banking stocks as the release of positive results by some of the Tier-1 banks failed to sway investor sentiment towards the sector. We envisage some bargain hunting on some of these counters, given their relatively low prices.�

Contrary to expectations that impressive full year financial results of companies will further boost the performance of the equities market last week, investors ignored results released by Zenith Bank Plc, Guaranty Trust Bank Plc and Stanbic IBTC Holdings Plc and increased their sell pressure. Consequently, the two-week bullish run came to a halt as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) plunged 2.9 per cent to close at 41,935.93, while market capitalisation shed N506billion to be at N15.002 trillion. Similarly, all other indices finished lower during the week with the exception of the NSE Insurance. Ironically, the NSE Banking Index was among the sectors that contributed to the decline despite impressive results and improved dividend recommendation by Zenith Bank and GTBank. The local bourse traded southwards on all days expect Tuesday when it closed the day flattish.

Market Turnover

Daily Performance Specifically, the market began last week on negative note as the Nigerian Stock Exchange All Share Index (NSE ASI) depreciated by 0.26 per cent to close at 43,056.51. Decline in the share prices of FBN Holdings Plc, Access Bank , Flour Mills, GTBank, and United Bank for Africa (UBA) were mainly responsible for the negative close. The three most actively traded stocks were FBN Holdings (425.60 million shares), Zenith Bank (78.96 million shares) and Japaul Oil and Maritime Services (64.76 million shares). According to operators, the market performance was mostly negative across sectors. Activity level declined and market breath closed negative. Market activity is expected to improve in coming sessions with release of other 2017 corporate earnings. In terms of sectoral performance two closed in the red, while two trended northwards while one closed flat. The Insurance Index was the biggest gainer, up 0.8 per cent. Similarly, the NSE Oil & Gas Index inched 0.3 per cent. Conversely, sell pressure in UBA and Union Bank of Nigeria dragged the NSE Banking Index 0.9 per cent southwards. The NSE Consumer Goods Index shed 0.09 per cent, while the NSE Industrial Goods index remained flat. However, the market appreciated marginally on Tuesday as the NSE ASI appreciated by 0.04 per cent to close at 43,073.42. But there were more price losers. Specifically, 39 stocks depreciated while 26 others appreciated But the share price of Japaul Oil and Maritime Services Plc suffered the first major decline after a bull run that lasted for days. Japaul had in the previous week appreciated by 53 per cent following renewed demand by investors who were reacting to news that it had entered into a binding commitment with Milost Global Inc., an American private equity firm to inject $350 million into its operations. Japual had disclosed to market operators, shareholders and other stakeholders that the $350 million capital injection by the United States based firm was in line with the mandate received from the company’s shareholders at the annual general meeting held on Thursday the 30th day of June, 2016. According to Japual, the facility

is in form of $250 million equity injection and $100 million Convertible Notes and it is expected to bail help to bail out the company from the present financial situation. Based on this information, many investors renewed their demand for the stock, which led to a jump of over 50 per cent to close at 97 kobo per share. However, profit taking by some investors on Tuesday reversed the gaining streak and made it to close as the highest price loser. It shed 8.3 per cent to be at 88 kobo per share. Renewed sell Pressure depressed the market on Wednesday with NSE

ASI, falling 0.54 per cent to close at 42,839.52. The depreciation recorded in the share prices of Transcorp, Cadbury Nigeria, Zenith Bank, UBA, and Nestle led to the decline. “Market performance was mostly bearish driven by sustained sell pressure predominantly in the banking sector stocks, despite the release of results of GTBank and Stanbic IBTC Holdings Plc,� operators said. Accordingly, market capitalisation declined N83.7 billion to close at N15.3 trillion. Activity level was mixed as volume traded fell 8.6 per cent to 372.7 million units while value traded trended 11.9 per cent

northwards to N6.8 billion. Also, sector performance was mixed three of the five major indices closed southwards with the banking index leading the laggards, down 1.5 per cent due to losses in Zenith Bank Plc and Access Bank Plc. The NSE Consumer Index trailed, losing 0.8 per cent on the account of price depreciation in Nestle (-1.4 per cent), and Dangote Sugar (-4.9 per cent) while the NSE Oil & Gas Index shed 0.3 per cent as losses in Total Nigeria (-1.2 per cent) dragged the index lower. On the positive side, the NSE Insurance Index and NSE Industrial Goods

Meanwhile, investors traded 2.444 billion shares worth N36.665 billion in 26,712 deals as against 3.079 billion shares valued at N39.990 billion that exchanged hands in 23,086 deals the previous week. The Financial Services Industry led the activity chart with 2.044 billion shares valued at N26.330 billion traded in 16,788 deals, thus contributing 83.61 per cent and 71.81 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 168.973 million shares worth N8.111 billion in 4,927 deals. The third place was occupied by Oil and Gas Industry with a turnover of 94.742 million shares worth N825.871 million in 1,641 deals. Trading in the top three equities namely – FBN Holdings Plc, Zenith Bank Plc and Fidelity Bank Plc accounted for 1.084 billion shares worth N17.852 billion in 7,074 deals, contributing 44.34 per cent and 48.69 per cent to the total equity turnover volume and value respectively.

Price Gainers and Losers An analysis of the price movement chart showed that only 25 equities appreciated in price during the week, lower than 45 of the previous week, 60 equities depreciated in price, higher than 40 equities of the previous week. Associated Bus Company Plc led the price gainers with 14.29 per cent, trailed by John Holt Plc with 12.5 per cent, while N.E.M Insurance Plc appreciated by 11.5 per cent. Cutix Plc chalked up 9.8 per cent, just as NPF Microfinance Bank Plc garnered 9.1 per cent. Other top price gainers included: Fidson Healthcare Plc (7.1 per cent); Learn Africa Plc (5.7 per cent); First Aluminium Nigeria Plc(3.9 per cent); AXA Mansard Insurance Plc (3.8 per cent) and Morison Industries Plc (3.7 per cent). Conversely, Japaul Oil & Marine Services Plc recorded the highest price loss of 30.9 per cent, trailed by Fidelity Bank Plc with 22.48 per cent. Unity Bank Plc went down by 21.5 per cent, while African Prudential Plc shed 20.2 per cent. Other top price losers were: Regency Alliance Insurance Company Plc (20. Per cent); LASACO Assurance Plc (18.1 per cent); Wema Bank Plc (18.0 per cent); Thomas Wyatt Nigeria Plc (16 per cent), United Capital Plc (15.8 per cent);NASCON Allied Industries Plc(15.4 per cent).

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A view of Lagos ďŹ nancial district

AKINWUNMI IBRAHIM

Discordant Tunes over CFTA Agreement Obinna Chima The Federal Executive Council (FEC) last week resolved to bid for the location of headquarters of Continental Free Trade Area (CFTA), even as uncertainty surrounds the decision by President Muhammadu Buhari to abruptly cancel his trip to join other African heads of state and governments in Kigali, Rwanda, this week, to sign agreement for the take-off of the policy. The Minister of Industry, Trade and investment, Dr. Okechukwu Enelamah,who disclosed this, said Nigeria’s trade capacity which had hitherto been between 13 and 15 per cent, would be boosted by the framework. According to him, the decision to establish CFTA was the was taken in 2012 by all Heads of State and Government of the African Union (AU) at their 18th ordinary session held in Addis Ababa, describing it as the first step in the implementation of AU Agenda 2063 meant to build an integrated, prosperous and peaceful Africa. However, some groups in the country have expressed divergent views about the move by the federal government. While some believe that the policy would significantly boost trade in the country, considering Nigeria’s market share in the continent, some others have opposed the policy, saying the federal government did not make any consultation before endorsing the agreement.

The CFTA The decision to establish the CFTA was taken in 2012 by all Heads of State and Government of the African Union (AU) at their 18th Ordinary Session. The CFTA is the first step in the implementation of AU Agenda 2063: the “Vision� for an integrated, prosperous and peaceful Africa. The Actual Negotiations for the CFTA were launched at the AU Johannesburg Summit in 2015. The Negotiations are in two Stages: Stage 1 -covering Trade in Goods and Services; and Stage 2-covering intellectual property, competition policy and investment. When signed, the CFTA has been predicted to be the biggest trade agreement bringing together 55 African countries second to the World Trade Organisation (WTO) that was signed in 1994. The CFTA will be a market of about 1.3 billion people currently and is expected to be about two billion by 2025. Some of the objectives of the CFTA include to create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of the Continental Customs Union and the African customs union; expand intra African trade through better harmonisation and coordination of trade liberalisation and

MARKET INDICATOR facilitation regimes and instruments across RECs and across Africa in general; resolve the challenges of multiple and overlapping memberships and expedite the regional and continental integration processes; as well as enhance competitiveness at the industry and enterprise level through exploiting opportunities for scale production, continental market access and better reallocation of resources.

Divergent Views To the leadership of the Nigeria Labour Congress (NLC), President Muhammadu Buhari should not be cajoled into signing the proposed agreement. NLC President, Ayuba Wabba, who stated this, argued that consultation with relevant stakeholders for possible impact assessment of the policy on the Nigerian economy was never carried out. According to Wabba, the policy would open the country’s seaports, airports and other businesses to unbridled foreign interference, never before witnessed in the history of the country. He maintained that the policy initiative would make it possible for a foreign airline to directly do local scheduled flights without employing Nigerians. “Owing to the sensitivity of this policy or its possible fall-outs on our economy, those driving it were directed to consult the Nigerian local business community and organised labour. However, we at the organised labour were not consulted. “Information reaching us suggests that the relevant business community has not been consulted. We at the Nigeria Labour Congress are shocked by the sheer impunity or blatant lack of consultation in the process that has led to this. “We are more worried by the probable outcome of this policy initiative if it is given life because of its crippling effect on the local businesses and attendant effects on jobs. “We find it confounding that at a time nations, including the United States are resorting to protectionism in defence of their local businesses and protection of jobs, we have the audacity to want to fling open our doors, windows and roof tops. “We have no doubt this policy initiative will spell the death knell of the Nigerian economy. “Accordingly, we urge Mr. President not to sign this agreement either in Kigali or anywhere. “We believe our national interest is at stake and nothing should be done to compromise this,� Wabba warned. According to the NLC president, the proposed CFTA, instead of uniting Africa, would only divide the continent more, adding that rather than enrich Africa will only pauperise it the more. But the Minister of Foreign Affairs, Geofrey Onyeama, argued that the policy was

conceived in line with the vision of African heads of state and government to promote free movement and trade in Africa as well as to remove barriers to trade. He said the development would be resourceful for Nigeria, noting that the country which is made up of 180 million population ought to be the economic engine of the continent that the policy can help it to achieve. According to further information provided by the presidency on the policy, with the advent of CFTA, the continent said to be a market of 1.2 billion Africans with a combined gross domestic product (GDP) of $2.5 trillion is expected to witness an increase in intra-African trade by up to 52.3 per cent. Furthermore, the presidency said all AU countries would share in the welfare gains estimated at about 2.64 per cent of continental GDP of $65 billion in 2018 and consequently expand the size of Africa’s economy to $29 trillion by 2050 as estimated by the United Nations Economic Commission for Africa. Specific gains listed to accrue to Nigeria from the policy include: expansion of market access for Nigeria’s exporters of goods and services, growth and job creation; elimination of barriers against Nigeria’s products and provide a dispute settlement mechanism for stopping the hostile and discriminatory treatment directed against Nigerian natural and corporate business persons in other African countries. Asked whether enough consultations were carried out with the Nigerian business community before Nigeria resolved to sign CFTA policy, Enelamah said: “The president has constituted a negotiating committee that included organised private sector and business like Manufacturers Association of Nigeria (MAN) and Nigeria Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA). They have been working with us. “However, the level of consultation needs to be much wider and FEC also pointed that out. Nevertheless, the airline operators and investors have urged the federal government to exercise caution in signing and implementing a free trade policy with other African countries. The airline operators, under the aegis of Airline Operators of Nigeria (AON), are wary of alleged haste by the federal government in signing the treaty without first allowing experts, investors, industrialists and operators to review the comparative gains and implications of such treaty. The Chairman of AON, Captain Nogie Meggison, noted that without due diligence “that puts Nigeria first�, the free trade initiative would go the way of the Single African Air Transport Market (SAATM) recently signed with 22 African countries “without plans on how it will benefit Nigeria.� He warned that Nigeria could not afford to rush

into signing the CFTA treaty allegedly aimed at giving unfettered access into the Nigerian market, adding that the treaty is more likely to erode the efforts of the government at diversifying the economy and reverse the gains of the present administration in reviving the economy out of recession According to Meggison, “The basic issue of visa free movement of people and trade is an integral aspect of SAATM and CFTA that will go a long way to determine the fairness of the project. “Sadly, it is a well-known fact that it is a herculean task for Nigerians to get visas to travel to many African countries. Nigerians require over 34 visas to travel within Africa alone. This is an issue that needs to be addressed first before the full implementation of SAATM or the signing of CFTA. “For instance, a country like Ethiopia, which is a strong pusher of this treaty, makes 45 per cent of its income from Nigeria. Yet, it has not employed Nigerians as aircrew or ground technical members of staff.� Besides, Secretary of the association, Ewos Iroro, noted that while the initiative is a laudable idea and could be considered as a step in the right direction, the timing is not right as there are several unresolved issues. Therefore, as Calestous Juma and Francis Mangeni, warned in report they co-authored, the trade agreement needs to be carefully thought out, particularly given that Africa is starting with a low intra-regional trade of 15 per cent compared to 19 per cent in Latin America, 51 per centin Asia and 72 per cent for Europe. They stressed that there is the risk that rushed negotiations could result in an agreement with too many exceptions to cover protected industries. This could include using non-tariff barriers – like safety measures – to protect local industries. A range of African countries use non-tariff barriers to curb imports of goods such as maize, milk, sugar, food oil products, and steel and iron. Sensitive and excluded products – like sugar and dairy products – might in some cases cover up to 600 tariff lines (product codes used at the national level). But these exceptions should be used sparingly to enable domestic industries to access the larger regional and global markets needed for their growth. In addition, the trade agreement needs to address the effects it may have on existing industries, environment, peace and security. It also needs to provide the policy space needed for governments to promote social policies such as job creation that could provide new performance standard for industries. Such policies should also balance between social goals and the need to be competitive on the global market. Concerns over the expansion of foreign imports, rather than regional trade integration, also needs to be carefully assessed to avoid the free trade area becoming a conduit for imports as this could undermine Africa’s goals to increase its industrial and trade capacity.

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T H I S D AY ˾ MONDAY MARCH 19, 2018

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LASG, NPA Appoint Representatives for Lekki Port Board In their capacity as shareholders in the development of Lekki Deep Sea Port, the Lagos State Government (LASG) and the Nigerian Ports Authority (NPA), have appointed representatives to the board of directors of Lekki Port LFTZ Enterprise (LPLE), the special purpose vehicle for the project. While the Lagos State Government appointed Mr. Emmanuel Olajide Adesoye and Mr. Olabode Kacheef Oyedele, the Managing Director of NPA, Hadiza Bala Usman will represent NPA on the board of directors. Adesoye, who will serve as Chairman of the board of directors of LPLE, is a chartered accountant and proven administrator of international repute with over 28 years of experience in the private sector in the oil and gas Industry. Adesoye, who is the current Chairman of the board of directors of NPA, also serves as a director of other boards, including the Lagos State University College of Medicine. Oyedele, the second appointee for LASG is a thoroughbred professional with a sound track record in both the public and private sectors. He rose through the ranks to become a Permanent Secretary of the Lagos Ministry of Agriculture & Cooperatives, and he has been running a very successful private business since his stint with government at the federal level. Prior to her appointment as the Managing Director of NPA, Hadiza Bala Usman who is an activist and seasoned public servant, served as Chief of Staff to the Governor of Kaduna State, Mallam Nasir El-Rufai. Speaking at the Annual General Meeting of LPLE at which the appointments were approved by the shareholders, the Acting Board Chairman, Chief Joseph Sanusi, an independent director appointed by Lekki Port Investment Holdings Inc (former Governor of the Central Bank of Nigeria), commended the

efforts and roles of successive administrations in Lagos State towards the actualization of the Lekki Port Project. In the same vein, he commended the management of NPA, both present and past, for their unwavering support, which he noted has contributed to the success of the project.He expressed optimism that the project, when fully completed, would eliminate the nagging issues in the Nigerian Maritime Sector. Also speaking during the meeting, the Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mr. Olalekan Akodu (who represented the Commissioner, Mrs. Olayinka Oladunjoye), expressed happiness with the level of progress achieved so far on the project, and commended the management and shareholders for their resilience and diligence in making the development of the project, a reality. He noted that the combined support from the Lagos State Government and the Nigerian Ports Authority has shown the high level of commitments, which both State and Federal Governments were providing to see the project materialize, and he urged all the stakeholders not to relent in their efforts. Professor Abubakar, the Executive Director, Engineering & Technical Services, who represented the Managing Director of NPA at the meeting, noted that the current executive management of NPA was very committed to the success of the Lekki Port project. In his own remarks, the Chairman of Lekki Free Zone Development Company& Lekki Worldwide Investment Limited, Mr. Biodun Dabiri noted that both the State and Federal Governments deserve to be commended for their commitment towards the success of the project stressing that its smooth delivery remains vital to the general prosperity of the state and Nigeria in general.

C&F Appoints New Head of Business Devt, Operations C&F Porter Novelli has appointed Ini Udoh as Head of Business Development and Operations, with responsibilities for leading business, growing client relationships, driving change and championing campaigns including delivering growth for both clients and agency. Udoh joins the Public Relations firm from Vlisco Netherlands B.V Nigeria, where he was the Western Regional Channel Marketing/Wholesale Manager in charge of the management of over 87 business partners which comprise distributors, boutiques and retailers, in the region. He also had P&L responsibility, and played a major role in realising the company’s sales target. Before that, Ini had served as Senior Sales Manager/Country Account Manager (Nigeria), for Kirusa Inc. a global leader in providing communication solutions over data networks for consumers and enterprises, where he was responsible for the

company’s Nigerian entry plan and overall general operations management including partnerships with all the major Telcos. Udoh had earlier served as Managing Consultant of Cellcast Limited, a member of the OSMi Group, where he executed English Premiership Mobile Rights (EPL) – Pan sub-Saharan Africa, in addition to pitching the rights and related products of such media properties as ‘Don’t Forget The Lyrics’ – NIGERIA, and Idol Nigeria. He said: “I am delighted to be joining C&F Porter Novelli in this capacity at a time when the communications consultancy business is undergoing fundamental changes. “PR today is so much more than just public relations as we traditionally know it, and requires fresh approaches. I look forward to being a part of the C&F Porter Novelli team, as it takes on the challenges arising from these changes�

Fund Managers Association of Nigeria Gets New Exco The Fund Manager Association of Nigeria (FMAN) has elected the Managing Director, Chapel Hill Denham Management Limited, Ononuju Irukwu as new President of the association. Also, the Executive Director, Investment & Technology, Stanbic IBTC Asset Management Limited, Shuaib Audu was elected as Vice President. Similarly, Managing Director of Investment One Funds Management Limited, Tope Omojokun emerged as Treasurer, while a Director at ARM Investment Managers Limited, Henrietta Bankole-Olusina is the new Executive Secretary. Head, Fixed Income Portfolio Management, FBN Quest Asset

President, Irukwu

Vice President, Audu

Management Limited, Ifeoluwa Dixon is Head, Technical and Enlightenment Committee of the association, while the Head, Coronation Asset Management, Emeka Okolo is Head, Ethics, Rules and Regulations Committee. The Managing Director, Investment One Vencap Limited, Ore Sofekun, who is the im-

mediate past president of the association, is an ex-officio member of the new executives. FMAN is an independent, non-governmental, non-political and non-profit making established in August, 2009 to promote the operations of fund managers registered with the Securities and Exchange Commission in Nigeria (SEC), provide for

self-regulation and supervision of SEC registered fund managers and ensure the observance of global best practices relating to the operations of such fund managers. The aim of the Association is to address all the issues affecting the industry’s development and represent its members at national and international levels in ongoing discussion about the future regulatory framework for the industry. The association’s focus is on education, regulation, policy development and international best practices for the benefit of its members, institutional investors, Policy makers and other stake holders.

T H I S D AY ˾ MONDAY MARCH 19, 2018

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FirstBank, Wema Commemorate Global Money Week First Bank of Nigeria Limited and Wema Bank have announced their participation in the 2018 Global Money Week held recently. The Global Money Week is a global event commemorated annually to expose youths to learn about money, savings, creating livelihoods, gaining employment and becoming an entrepreneur. This year, the event was held from 12th – 18th March, 2018. Among the activities lined up for the week by FirstBank was the Financial Literacy Day designed to foster financial stability for individuals and the society

at large, as it is believed that the more people are exposed to financial skills, the more likely they are to make informed decisions on money matters and in turn save money, make investments and improve their financial health and wellbeing Speaking on the Global Money Week, the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake Ani-Mumuney, was quoted in a statement to have said: “In recognition of the impact a healthy savings culture has in securing the future

of a nation, FirstBank is committed to the development of financial literacy, most importantly among the youths and young children in elementary and secondary schools. With our products, KidsFirst and MeFirst, we promote an effective savings culture among young people by encouraging parents to guide their wards on savings at a tender age whilst building financial savvy skills for future purposes�. As carried out in 2017 World Savings Day, FirstBank visited 30 schools across the six geo-political zones. These schools were taught

by staff of the bank, in line with the approved CBN teaching module, developed by Junior Achievement Nigeria (JAN). In a related development, as part of its effort to build a healthy savings culture amongst young Nigerians, Wema Bank visited several p u b l i c s c h o o l s a c ro s s the country to educate students on the benefits of growing their financial knowledge and nurturing healthy investment habits which will serve them well in the future. Over 25 schools, spread across all six geographical zones of

the country, were visited by senior officials of the bank including OAU International School, Ile-Ife, Osun State, which was visited by the Bank’s Deputy Managing Director, Ademola Adebise and the Executive Director, South Bank, Wole Akinleye. During his visit, Adebise lectured the students on the important of imbibing a healthy savings culture at an early age, which he said makes it easier to achieve set life goals and puts them on the right path to attaining financial freedom. Adebise also advised young people to learn the

art of budgeting, noting that it helps in distinguishing between wants and needs. “This way you can set your priorities right, regardless of how little you have� he said. Most of the students present at the interactive session admitted to having learned some useful saving tips and were keen to test their knowledge once they open a savings account. In a bid to help them kickstart their savings programme, Adebise agreed to fund the first 50 students who open an instant Wema Bank Savings Account during the session.

OAU Seeks Industry Participation to Boost $8m ICT Park Project Emma Okonji Obafemi Awolowo University (OAU), Ile Ife in Osun State, has called for more industry collaboration to enhance its $8million World Bank assisted ICT project, designed to establish Information and Communications Technology (ICT) Park in the institution. Although the ICT Park project commenced since 2014, with structures and facilities already on ground, the university said there was need for more industry collaboration on the project to bring it to a desired global standard level. Speaking at a one day forum built around the project, organised by the university authority on Wednesday in Lagos, with the theme: ‘Rethinking Academia-Industry Engagement’, the Pro Chancellor of the University, Dr. Yemi Ogunbiyi, said the essence of the forum was to seek more collaboration from industry stakeholders in the form of industry partnership to boost the project. “We need to build strong interface between the academia and the industry, and we want industry participation and synergy on this project that will will be of immense benefit to the student community, the academia and the industry,� Ogunbiyi said. The Vice Chancellor of the University, Prof. Eyitope Ogunbodede, said the ICT Park would help to bridge the practical skills gap that exists between the academia and the industry, who often times complain of unemployable graduates that universities release every year, because they lack the practical skills needed for

industry jobs. He said the ICT Park projects is capital intensive, hence the need for industry stakeholders to partner with OAU to train students that will be well grounded in both theory and practical skills before graduating. The Director, World Bank Assisted Project, Obafemi Awolowo University, Prof. Adesola Aderounmu, who doubles as the President of the Nigeria Computer Society (NCS), said the University was selected for the project because of its excellent pursuit for education. According to him, the World Bank called for proposal from all Universities in Nigeria and Central Africa in 2014 and 30 Universities were initially selected from among 59 that applied from Nigeria and 10 was approved by the World Bank after a thorough review of the applications and OAU was eventually selected as the best institution for the ICT Park project, Aderounmu said. A grant of $8 million was given by World Bank for the ICT Park project, which had since commenced with students already carrying our research projects in the ICT Park, but we needed more industry collaboration on this, Aderounmu added, “The programme has already started and some industry stakeholders have already signed MOU with us, designed to bridge the practical skills gap that currently exists,� Aderounmu said. Ogunbiyi, who spoke on the importance of electricity to the ICT Park project, called on the federal government to assist the university in its campus electrification project.

ACADEMIA-INDUSTRY FORUM

L-R: Pro Chancellor, Obafemi Awolowo University (OAU), Ile Ife, Dr. Yemi Ogunbiyi; Vice Chancellor, Prof. Eyitope Ogunbodede and Board Chairman, National Information Technology Development Agency (NITDA), Prof. Adeolu Akande, during the Academia-Industry Engagement forum organised by the university at Sheraton Hotels, Ikeja, Lagos...recently

Access to Internet through Mobile Devices Tops List in 2017 Mobile Report Emma Okonji Jumia at the weekend in Lagos, released its Annual Mobile Report, highlighting the 2017 main industry trends, ahead of this year’s Mobile Week, where the use of mobile devices in accessing the internet for online shopping, was ranked highest, compared with the use of laptop and desktop computers. According to the report, there was 11 per cent increase in the number of Nigerians who visited the Jumia website via their mobile phones, which reached 79 per cent in 2017, compared with the 71 per cent record in 2016. Meanwhile, those who used their desktop computers or laptops dipped to 18 per cent in 2017 compared with the 29 per cent record in 2016. The report also shows that in 2017, 70 per cent of Nigerians preferred the cash on delivery option, compared to 28 per cent

and 12 per cent for credit/debit cards and mobile money options respectively. Analysing the figures of the Mobile Report, the CEO of Jumia Nigeria, Juliet Anammah, described the upward shift from desktop to mobile as a positive development. She attributed the increase in the number of mobile phone users to the multiplicity of affordable smartphones, especially the Asian mobile brands which continue to build on their Africa-specific strategy by introducing lower price points’ smartphones adapted to the profiles of African users. She also listed a growing market for second-hand devices and the increasing use of social media sites as contributing factors. Anammah further said: “The mobile industry continues to play an increasingly important role in the socio-economic development of the African region. As Nigeria swiftly becomes a mobile first country, with mobile phone

penetration currently at 84 per cent of the population, Jumia is doing its bit to close the gap with sales initiatives such as Jumia Mobile Week.� This year, the stage is set once again for the biggest sale of mobile phones, beginning March 19th through 25th. This is a mobile-phone-only one-week-long sales event dedicated to opening up our customers to a wide range of mobile devices at half the normal prices. “We believe that, by end of 2018, at least every Nigerian will have access to a mobile phone,� Anammah added. The Chief Transformation Officer of MTN Nigeria, Olubayo Adekambi, identified the expansion of e-Commerce into a dual business model that blends the physical and the digital to create an ecosystem between brands and consumers across the two worlds, as among the major factors fueling the increase

in adoption of smartphones. In order to ensure rural dwellers have increased access to ICT devices such as smartphones, the National Information Technology Development Agency (NITDA) has created an IT Innovation hub, which has the capacity to produce e-literate groups from low skilled or low paid workers, unemployed people, and those with disabilities who do not have access to these ICTs. Director General of NITDA, Dr. Isa Ali Pantami who was represented at the launch of the Mobile Industry Report by the Head, NITDA South-west, Chioma Okee-Aguguo, said: “NITDA has seen in ICT the potential to change new and old forms of economic activity. We’ve created e-Learning Centres to further enrich the rural communities’ quest for learning and for continuous after-school reading and learning by both the students and teachers, among other initiatives.�

Firm Unveils Essential Leadership Skills for Managers & Owners To help individuals and organisations reach their full leadership potential, Simply Exponential Consult Limited in conjunction with Eureka Consulting, Atlanta, USA is having a one day workshop tagged, “The Leadership Toolkit� on March 21, 2018

at Colonnades Hotel, Alfred Rewane Street, Ikoyi, Lagos. In a statement, the Managing Consultant of Simply Exponential Consult Limited, Mrs. Fayo Williams, explained that this high energy, interactive workshop is designed to

provide participants with leadership techniques that are guaranteed to increase productivity and growth in their role as business owners or individual contributors within the organisation. A former Managing Director and later Chair-

man of Nestle Foods Plc, Olusegun Osunkeye, will be on ground to share his wealth of experience on burning leadership issues such as appropriate application of Leadership Styles, Innovative Leadership etc., Strategies for Harnessing

Team Chemistry, Tracking and Measuring Results among others. Consultant and trainer at Eureka Consulting LLC, Mrs. Iruka Ndubuizu, corroborated this by saying that participants of the Leadership Toolkit workshop will experi-

ence a rare opportunity to spend the day with a past chairman of several blue chip organisations and two other highly skilled and innovative leaders who will equip them with tools on mentorship, creative leadership and acting strategically.

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T H I S D AY ˾ MONDAY MARCH 19, 2018

PAMO UNIVERSITY OF MEDICAL SCIENCES (PUMS) PORT HARCOURT, RIVERS STATE, NIGERIA

COMMENCEMENT OF 2017/2018 ACADEMIC SESSION All admitted students of PAMO University of Medical Sciences, Port Harcourt, Parents, Guardians and the General Public are hereby notified that the 2017/2018 Academic Activities of the University will commence on Tuesday, 3rd April, 2018. Consequently, students are expected to move into Halls of Residence not later than 6.00 p.m. on the same day. PAMO University of Medical Sciences was granted operating Licence by the Federal Government of Nigeria on the 19th day of December, 2017. The Institution operates a mandatory on-campus residence for all students. Only Students with evidence of full payment of school fees will be allowed into Halls of Residence. We look forward to welcoming you all.

Signed: Barr. W.U.G. Imoedemhe, Ph.D Registrar

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T H I S D AY ˾ MONDAY MARCH 19, 2018

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BUSINESS/MONEYGUIDE

CBN Unveils Regulation on Bills Payments Obinna Chima The Central Bank of Nigeria (CBN) has unveiled a regulation for bill payment in the country. The central bank stated this in a circular titled: “Regulation for Bill Payments in Nigeria, 2018,� that was posted on its website at the weekend. It explained that the policy was developed in exercise of the powers conferred on it to promote sound financial system in the country. The regulation covers bill payments on various payment channels and any payment platform that seeks to integrate the payment side of commercial activity and merchant aggregators in Nigeria. The payment methods include cheques, cards, direct debit, instant payments, and automated clearing house, etc.

It described a payment service provider as a person licenced by the CBN to provide services involving direct interactions with the payment, settlement and clearing systems and payment system arrangements, as the Bank may authorise from time to time and may include a bank,mobile money operators or other financial institution connected directly to a biller without any service intermediary. According to the regulation, payments shall be final and irrevocable and be consistent with the provision of the circular on the Statement of Payments Finality. Also, it stated that requests for refundsor recalls shall be via a dispute resolution system or other supplementary rules that guide the operations of

the relevant payment method. “Service Providers shall make an automated dispute resolution platform available to facilitate seamless resolution of complaints. Disputes arising from Bills Payment transactions shall be resolved amicably amongst the parties in line with the provisions of the guidelines on Operations of Electronic Payment Channels in Nigeria,� it added. The objectives of the regulation, among others include to document the minimum standards that must be complied with for the processing of bill payment transactions; and to identify stakeholders in Bill Payment system space; ensure achievement of the vision of a ‘nationally utilised and international recognised payments system in Nigeria.

Standard Chartered Bank Launches Digital Banking Platform Standard Chartered Bank has announced the official launch of its digital bank in Côte d’Ivoire. This was the bank’s first digital bank in Africa and the first-of-its-kind to open in Côte d’Ivoire. The Minister of Information, Technologies and Communication of the Republic of Côte d’Ivoire, Mr. Bruno NabagnÊ KONE, was the guest of honour at the event. The event was attended by dignitaries, business leaders, clients and senior management, as well as sporting legend and Ivorian icon, Didier Drogba. Speaking at the event, the CEO, Africa and Middle East, Standard Chartered Bank, Sunil Kaushal,

described the initiative as a key milestone on the bank’s digital journeyas well as its commitment to investing and growing in the market. He added: “We have been steadily investing in expanding our footprint in Africa over the years, and this will continue to be a priority moving forward. Digitising Africa remains at the heart of our business strategy for the region, and we look to implement our CĂ´te d’Ivoire model across other markets in the coming months.â€? Also, the Regional Head of Retail Banking, Africa & Middle East, Jaydeep Gupta said the digital bank was developed with clients in mind.

Gupta added: “We have taken into consideration the feedback received by our clients at each stage of the design process and have incorporated innovative technology to allow them to execute all banking activities from a mobile device. This includes 70 banking services through the app. “In addition, for the first time, the client onboarding journey has been digitised and in under 15 minutes a client can open a new account through the app. What has also been introduced is the ability for clients to track and trace a request submitted, which is a first for Standard Chartered. This is something we are very proud of.�

Again Fidelity Bank Rewards Loyal Customers Fidelity Bank Plc has rewarded 12 of its loyal customers with N13 million, in the March edition of its savings promo tagged: ‘Get Alert in Million Reloaded promo draw that took place in Lagos at the weekend. The customers were drawn from its branches across the country. It also gave out refrigerators, television and power generators. The star prize winner was Mr. Ikechi Isreal Nwaobilor, from its Lagos branch, that won N2 million. Others were Oludamilare Emmanuel (NI million); Fridnant Emmanuel (N1 million); Sunday Ajah (N1 million); Onijamu Oladele Segun (N1 million); Ago Dinebari Victor (N1 million); Olajumoke Shittu (N1 million); and Henry Ekene Udeh (N1 million), Ala Andrew Chuar (N1 million); Sani Sule

(N1 million); Chukwuemeka Umeji (N1 million); and Mary Okonkwo (N1 million). The Divisional Head, Retail Banking, Fidelity Bank, Richard Madiebo, urged customers and intending customers of the bank to take advantage of the promo. In a related development, Fidelity Bank recently tutored 3,500 students in 31 schools across Nigeria, as part of activities to mark this year’s Global Money week and Financial Literacy Day. The bank’s Managing Director, Mr. Nnamdi Okonkwo, who was represented by its Divisional Head, Brand and Communication, Mr. Charles Aigbe, was at the Government Day Secondary School,Lokoja, Kogi State. Also, other senior employees of the bank visited other schools in the country to

promote financial literacy. The Financial Literacy Day was set aside by the CBN t to focus on increasing the level of awareness of the youth on the importance of earning, managing and saving money in order to have a secure future. Fidelity Bank supports the initiative that is targeted at getting more young people to participate in the formal banking system in order to create financially inclusion. Okonkwo said financial literacy among Nigerians, especially the youth, wouldfoster economic growth and development. Okonkwo noted that financial literacy would help young people gain financial freedom through prudent management of money and clear differentiation of needs and wants.

Microcred Rebrands, Now Baobab MFB Microcred Nigeria, a subsidiary of Microcred Group, operating in Africa and China has concluded its transition to a new brand nameBaobab Microfinance Bank Nigeria as it aims at providing improved products and services to meet the need of its customers. Announcing the transition at an unveiling ceremony in Lagos, Chief Executive Officer of Baobab Microfinance Bank, Mr. Kazeem Olanrewaju, said since 2010, the bank had developed a network of seven branches in

Kaduna and Lagos, and currently serving more than 65, 000 customers. He said the company is dedicated to delivering value for a sustainable benefit of its customers and businesses. “To do so, a wide range of products: loans, savings plans and savings accounts, and innovative products such as TAKA, a nano-loan which offered to existing customers by SMS and which is available immediately with no further documentation,� Olanrewaju said. The company also introduced another product called ‘AJO

account,’ a monthly savings plans which allows a customer to choose any period convenient for him, while enjoying a high remuneration rate from his monthly contribution. The CEO noted that the bank would deploy digital banking mechanisms to guarantee customers uninterrupted banking experience. He added: “The whole idea is to have a bank with you anywhere you are: in your home, as you travel, in your business place. The conventional bank that you have today is such that you need to go to the bank.

CBN building

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 TUESDAY MARCH 13, 2018

The price of OPEC basket of fourteen crudes stood at $62.15 a barrel on Tuesday, compared with $62.53 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

NSE Educates Youths on Sustainable Investment, Spending Habits Goddy Egene The Nigerian Stock Exchange (NSE) has said it is constantly implementing and supporting initiatives that encourage youths to develop sustainable spending habits and to become financially savvy. The Head, Shared Services Division, NSE, Mr. Bola Adeeko, stated this at one of the events organised by the exchange to

commemorate the 2018 Global Money Week themed: ‘Money Matters Matter’ in Lagos. “As a sustainable exchange championing Africa’s growth, NSE takes the issue of providing young people with the tools they need to make sound financial decisions very seriously. We are constantly implementing and supporting initiatives that encourage our youths to develop sustainable spending habits and

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to become financially savvy,� he said. According to Adeeko, since celebrating the Global Money Week in 2014, the exchange has been able to reach over 12,507 students from 118 schools. “This year alone, NSE impacted 5,337 students from over 25 secondary schools and institutions of higher learning, through various financial literacy programmes during the week. Other financial

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literacy initiatives we carry out include, school excursions to the Exchange, NSE Adopt-ASchool initiative, school outreach programmes, and financial literacy workshops. Through these initiatives, we have been able to promote financial literacy among young Nigerians, by encouraging them to learn how good financial decisions can better their lives now and in the future, and ultimately

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grow the economy,� he added. The Global Money Week is an annual global celebration, initiated by Child & Youth Finance International (CYFI), with local and regional events and activities aimed at inspiring children and youths to learn about money, saving, creating livelihoods, gaining employment and becoming entrepreneurs. It is also aimed at empowering the next generation to be

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confident, responsible and skilled economic citizens. This year’s theme highlights the need for children and youth, now more than ever, to be economically equipped and empowered to close inequality gaps and build a brighter future. Money Matters Matter, because children and youth need to receive the knowledge and develop skills necessary to make smart financial decisions, to lead a successful life.

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˜ ͹΁˜ ͺ͸͹Ͷ ˾ T H I S D AY

Nigeria Daily Stock Market Report: 'ůŽďĂů ƋƵŝƟĞƐ DĂƌŬĞƚƐ ZĞǀŝĞǁ ĂŶĚ KƵƚůŽŽŬ͗ WƌŽƚĞĐƟŽŶŝƐƚ WŽůŝĐLJ dĂŝů ZŝƐŬ ĂŵƉĞŶƐ ^ĞŶƟŵĞŶƚ ŝŶ 'ůŽďĂů DĂƌŬĞƚƐ dŚĞ dƌƵŵƉ ĂĚŵŝŶŝƐƚƌĂƟŽŶ͛Ɛ ƌĞƉůĂĐĞŵĞŶƚ ŽĨ 'ĂƌLJ ŽŚŶ ǁŝƚŚ ŝŶĐŽŵŝŶŐ ĐŚŝĞĨ ĞĐŽŶŽŵŝĐ ĂĚǀŝƐĞƌ͕ >ĂƌƌLJ <ƵĚůŽǁ͕ ƐŝŐŶĂůĞĚ ĂůŝŐŶŵĞŶƚ ǁŝƚŚ WƌĞƐŝĚĞŶƚ dƌƵŵƉ͛Ɛ ĐĂƐĞ ĨŽƌ Ă ƐƚƌŽŶŐĞƌ ĚŽůůĂƌ ĂŶĚ Ă ŚĂƌĚůŝŶĞ ƉŽƐŝƟŽŶ ŽŶ ŚŝŶĂ͘ dŚŝƐ ŝŶĐƌĞĂƐĞĚ ƐƉĞĐƵůĂƟŽŶ ŽĨ Ă ƚƌĂĚĞ ǁĂƌ ďĞƚǁĞĞŶ ƚŚĞ hŶŝƚĞĚ ^ƚĂƚĞƐ ĂŶĚ ŚŝŶĂ͕ ĂŶĚ ƚŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƌĞƐƉŽŶĚĞĚ ǁŝƚŚ ƐĞůůŽīƐ ůĞĂĚŝŶŐ ƚŽ Ă tͲŽͲt ĚĞĐůŝŶĞ ĂĐƌŽƐƐ ƚŚĞ ĚĞǀĞůŽƉĞĚ ŵĂƌŬĞƚƐ͘ Kŝů ƉƌŝĐĞƐ ĂůƐŽ ǁĞĂŬĞŶĞĚ͕ ĂƐ ƌĞŶƚ ƌƵĚĞ WƌŝĐĞ ĐůŽƐĞĚ Ăƚ h^Ψϲϱ͘Ϭϴͬď͕ ĚŽǁŶ Ϭ͘ϲй tͲŽͲt ĨƌŽŵ h^Ψϲϱ͘ϰϵͬď ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ &ƌŝĚĂLJ ĨŽůůŽǁŝŶŐ ŝŵƉƌŽǀĞĚ ŽƵƚƉƵƚ ŝŶ ƚŚĞ h͘^͘ ĐƌƵĚĞ ƉƌŽĚƵĐƟŽŶ ǁŚŝĐŚ ũƵŵƉĞĚ ƚŽ ϭϬ͘ϰŵďͬĚ͕ ŽīƐĞƫŶŐ ƚŚĞ ŝŵƉĂĐƚ ŽĨ ĂŶ ĞĂƌůŝĞƌ ƌĞƉŽƌƚ ďLJ ƚŚĞ /ŶƚĞƌŶĂƟŽŶĂů ŶĞƌŐLJ ŐĞŶĐLJ ;/ Ϳ ǁŚŝĐŚ ǁĂƌŶĞĚ ŽĨ ĂŶ ŝŵƉĞŶĚŝŶŐ ƐŚŽƌƞĂůů ŝŶ ŐůŽďĂů ƐƵƉƉůŝĞƐ ĨŽůůŽǁŝŶŐ ƉƌŽĚƵĐƟŽŶ ĚĞĐůŝŶĞƐ ĨƌŽŵ sĞŶĞnjƵĞůĂ͘ ĐƌŽƐƐ ƚŚĞ ĚĞǀĞůŽƉĞĚ ŵĂƌŬĞƚƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƚƌĞŶĚĞĚ ƐŽƵƚŚǁĂƌĚƐ͘ dŚĞ h^ ^ΘW ϱϬϬ ǁĂƐ ĚŽǁŶ ϭ͘ϰй ĨŽůůŽǁŝŶŐ Ă ǁĞĞŬ ͲůŽŶŐ ůŽƐŝŶŐ ƐƚƌĞĂŬ ƐƚŽŬĞĚ ďLJ ĨĞĂƌƐ ŽĨ ĂŶ ŝŵƉĞŶĚŝŶŐ ƚƌĂĚĞ ǁĂƌ͕ ǁŚŝůĞ ƚŚĞ h^ E ^ Y ĨĞůů ϭ͘Ϭй ĂŶĚ ƚŚĞ h< &d^ ůů ^ŚĂƌĞ /ŶĚĞdž ƐŚĞĚ ϭ͘ϭй t ͲŽͲt ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ŝŶĐƌĞĂƐĞĚ ƵŶĐĞƌƚĂŝŶƚLJ ŽŶ ƚŚĞ ŽƵƚĐŽŵĞƐ ŽĨ ƚŚĞ h͘<͛͘Ɛ ƌĞdžŝƚ ŶĞŐŽƟĂƟŽŶƐ͘ ZĞůĂƚĞĚůLJ͕ hE/> s Z ĂŶŶŽƵŶĐĞĚ ŝƚ ǁĂƐ ŵŽǀŝŶŐ ŝƚƐ ŚĞĂĚƋƵĂƌƚĞƌƐ ĨƌŽŵ ƚŚĞ h͘<͘ ƚŽ ƚŚĞ EĞƚŚĞƌůĂŶĚƐ͘ ĐƌŽƐƐ ƚŚĞ Z/ ^ ŵĂƌŬĞƚƐ͕ Ăůů ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ ƐĂǀĞ ƚŚĞ /ŶĚŝĂ͛Ɛ ^ ^ĞŶƐ ǁŚŝĐŚ ŐĂŝŶĞĚ Ϭ͘ϯй tͲŽͲt͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ZƵƐƐŝĂ͛Ɛ Zd^ ƉŽƐƚĞĚ Ă ϯ͘ϵй tͲŽͲt ĚĞĐůŝŶĞ Ͳ Ă ƉŽƐƐŝďůĞ ĞīĞĐƚ ŽĨ ŝŶǀĞƐƚŽƌ ƌĞĂĐƟŽŶ ƚŽ ŶĞǁ h^ ^ĂŶĐƟŽŶƐ ĂŶĚ ƌŝƚĂŝŶ͛Ɛ ĚĞĐŝƐŝŽŶ ƚŽ ĐƵƚ ŝƚƐ ŐĂƐ ĚĞŵĂŶĚ ĨƌŽŵ ZƵƐƐŝĂ͛Ɛ ƐƚĂƚĞͲŽǁŶĞĚ ŐĂƐ ĐŽŵƉĂŶLJ Ͳ 'ĂnjƉƌŽŵ͘ ůƐŽ͕ ^ŽƵƚŚ ĨƌŝĐĂ͛Ɛ &d^ ůů ^ŚĂƌĞ ŝŶĚĞdž ĨĞůů ϭ͘ϴйtͲŽͲt ǁŚŝůĞ ƌĂnjŝů͛Ɛ /ďŽǀĞƐƉĂ ǁĂƐ ĚŽǁŶ ϭ͘ϳй͘ ^ŝŵŝůĂƌůLJ͕ ŚŝŶĂ͛Ɛ ^ŚĂŶŐŚĂŝ ŽŵƉŽƐŝƚĞ ĂůƐŽ ĚĞĐůŝŶĞĚ ϭ͘ϭй tͲŽͲt ĂƐ ŝŶǀĞƐƚŽƌƐ ĐŽŶƟŶƵĞ ƚŽ ǁŽƌƌLJ ĂďŽƵƚ h͘^͘ ƉŽůŝĐLJ ƵŶĐĞƌƚĂŝŶƟĞƐ͘ WĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ĨƌŝĐĂŶ ŵĂƌŬĞƚƐ ǁĂƐ ŵŝdžĞĚ ǁŝƚŚ ŐLJƉƚ͛Ɛ͛ 'y ϯϬ ůĞĂĚŝŶŐ ŐĂŝŶĞƌƐ͕ ƵƉ ϯ͘Ϯй tͲŽͲt ĚƵĞ ƚŽ ŐƌŽǁŝŶŐ ĐŽŶĮĚĞŶĐĞ ŝŶ ƚŚĞ ŐŽǀĞƌŶŵĞŶƚ͛Ɛ ĞĐŽŶŽŵŝĐ ƉŽůŝĐŝĞƐ ǁŚŝůĞ <ĞŶLJĂ͛Ɛ E^ ϮϬ ƉŽƐƚĞĚ Ă tͲŽͲt ŐƌŽǁƚŚ ŽĨ ϭ͘ϯй ĂƐ ƚŚĞ /ŶƚĞƌŶĂƟŽŶĂů DŽŶĞƚĂƌLJ &ƵŶĚ ;/D&Ϳ ĂƉƉƌŽǀĞĚ ƚŚĞ ĐŽƵŶƚƌLJ͛Ɛ ƌĞƋƵĞƐƚ ĨŽƌ Ă ƐŝdžͲŵŽŶƚŚ ĞdžƚĞŶƐŝŽŶ ƚŽ Ă Ψϭ͘ϱďŶ ƐƚĂŶĚďLJ ĨĂĐŝůŝƚLJ͘ dŚĞ EŝŐĞƌŝĂŶ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ĚĞĐůŝŶĞĚ Ϯ͘ϯй tͲŽͲt ĂƐ ƚŚĞ ŵĂƌŬĞƚ ƐŚĞĚ ƉŽŝŶƚƐ Ăůů ǁĞĞŬ Ͳ ƐĂǀĞ ĨŽƌ Ă ŵĂƌŐŝŶĂů ŐĂŝŶ ŽŶ dƵĞƐĚĂLJ ʹŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůůŽīƐ ŝŶ ďůƵĞ ĐŚŝƉ ƐƚŽĐŬƐ ǁŚŝĐŚ ǁĞŝŐŚĞĚ ŽŶ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ͘ 'ŚĂŶĂ͛Ɛ '^ ŽŵƉŽƐŝƚĞ ĂůƐŽ ĚĞĐůŝŶĞĚ Ϭ͘ϵй tͲŽͲt͘

ŽŵĞƐƟĐ ƋƵŝƚLJ DĂƌŬĞƚ ZĞǀŝĞǁ͗ ĞĂƌŝƐŚ WĞƌĨŽƌŵĂŶĐĞ ĚĞƐƉŝƚĞ /ŵƉƌĞƐƐŝǀĞ ĂƌŶŝŶŐƐ ZĞůĞĂƐĞƐ dŚĞ ϮͲǁĞĞŬ ůŽŶŐ ďƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĐĂŵĞ ƚŽ Ă ŚĂůƚ ƚŚŝƐ ǁĞĞŬ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ƉůƵŶŐĞĚ Ϯ͘ϵй tͲŽͲt ƚŽ ƐĞƩůĞ Ăƚ ϰϭ͕ϵϯϱ͘ϵϬ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ĚĞĐůŝŶĞĚ ƚŽ ϵ͘ϳй͘ dŚĞ ďĞĂƌŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ ďĞůůǁĞƚŚĞƌƐ ŝŶ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ƐĞĐƚŽƌƐ Ͳ E/d,͕ E ^d> ĂŶĚ 'h Z Edz Ͳ ǁŚŝĐŚ Ăůů ƌĞůĞĂƐĞĚ ŝŵƉƌĞƐƐŝǀĞ ƌĞƐƵůƚƐ ĨŽƌ &z͗ϮϬϭϳ͘ Ɛ Ă ƌĞƐƵůƚ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ EϱϬϲ͘ϬďŶ ŝŶ ǀĂůƵĞ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĨĞůů ƚŽ Eϭϱ͘ϬƚŶ͘ ^ŝŵŝůĂƌůLJ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ƐŽŌĞŶĞĚ ĂƐ ĂǀĞƌĂŐĞ ĚĂŝůLJ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ Ϯϲ͘Ϯй ĂŶĚ ϮϬ͘ϱй tͲŽͲt ƚŽ ϰϬϴ͘ϱŵ ƵŶŝƚƐ ĂŶĚ Eϲ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ E/d, ;ϮϱϮ͘ϳŵͿ͕ & E, ;ϭϲϭ͘ϮŵͿ ĂŶĚ Z ' >/E^ ;ϭϬϮ͘ϰŵͿ ǁĞƌĞ ƚŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁŚŝůĞ E/d, ;Eϳ͘ϳďŶͿ͕ E/' Z/ E Z t Z/ ^ ;Eϯ͘ϵďŶͿ ĂŶĚ 'h Z Edz ;EϮ͘ϵďŶͿ ůĞĚ ƚŚĞ ůŝƐƚ ŽĨ ƐƚŽĐŬƐ ǁŝƚŚ ƚŚĞ ŚŝŐŚĞƐƚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚƵƌŝŶŐ ƚŚĞ ǁĞĞŬ͘ dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƵŶĞdžƉĞĐƚĞĚůLJ ƚƌĂĚĞĚ ƐŽƵƚŚǁĂƌĚƐ ŽŶ Ăůů ĚĂLJƐ ďƵƚ dƵĞƐĚĂLJ ǁŚĞŶ ŝƚ ĐůŽƐĞĚ ƚŚĞ ĚĂLJ ŇĂƫƐŚ ; ^/ ƌŽƐĞ ϰďƉƐͿ͘ dŚĞ ŵĂƌŬĞƚ ďĞŐĂŶ ƚŚĞ ǁĞĞŬ ďĞĂƌŝƐŚ͕ ƐŚĞĚĚŝŶŐ ϮϲƉƐ ůĂƌŐĞůLJ ĚƵĞ ƚŽ ƐĞůů ŽīƐ ŝŶ h ͕ h E ĂŶĚ hE/> s Z͘ LJ dƵĞƐĚĂLJ͕ ŽƵƌ ŽƉƟŵŝƐŵ ĨŽƌ Ă ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ƐƚƌĞŶŐƚŚĞŶĞĚ ĨŽůůŽǁŝŶŐ Ă ŵĂƌŐŝŶĂů ƌĞďŽƵŶĚ ŝŶ ƚŚĞ ^/ ;ĚƌŝǀĞŶ ďƌŽĂĚůLJ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E' DͿ ĂŶĚ ƚŚĞ ƌĞůĞĂƐĞ ŽĨ ĂŶ ŝŵƉƌĞƐƐŝǀĞ &z͗ϮϬϭϳ ƌĞƐƵůƚ ďLJ E/d,͘ ^ƵƌƉƌŝƐŝŶŐůLJ͕ ƚŚĞƌĞ ŚĂƐ ďĞĞŶ Ă ůĂŐ ŝŶ ĞdžƉĞĐƚĞĚ ƌĞĂĐƟŽŶ ĂƐ ƚŚĞ ^/ ĨĞůů Ϭ͘ϱй͕ ϭ͘ϱй ĂŶĚ Ϭ͘ϲй ŝŶ ƚŚĞ ƌĞŵĂŝŶŝŶŐ ĚĂLJƐ ŽĨ ƚŚĞ ǁĞĞŬ͕ ĚƌĂŐŐĞĚ ďLJ ůŽƐƐĞƐ ŝŶ ĂŶŬŝŶŐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĐŽƵŶƚĞƌƐ Ͳ E/d,͕ 'h Z Edz͕ E ^d> ĂŶĚ E'^h' Z WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ŶĞŐĂƟǀĞ ĂƐ Ăůů ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ ƐĂǀĞ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž͕ ǁŚŝĐŚ ŝŶĐŚĞĚ Ϭ͘ϯй ŚŝŐŚĞƌ ŽŶ ƚŚĞ ďĂĐŬ ŐĂŝŶƐ ŝŶ E D ;нϭϭ͘ϲйͿ͕ ĂŶĚ D E^ Z ;нϯ͘ϴйͿ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ůĞĚ ůĂŐŐĂƌĚƐ͕ ĚŽǁŶ ϴ͘ϰй ĚƌĂŐŐĞĚ ďLJ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ h ;Ͳ ϭϯ͘ϲйͿ͕ E/d, ;ͲϭϬ͘ϳйͿ ĂŶĚ ^^ ;ͲϭϬ͘ϰйͿ͘ dŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƚƌĂŝůĞĚ͕ ƐŚĞĚĚŝŶŐ ϭ͘ϲй ĂƉŝĞĐĞ ĂƐ ŝŶǀĞƐƚŽƌƐ ƐŽůĚ Žī ƉŽƐŝƟŽŶƐ ŝŶ KEK/> ;Ͳϱ͘ϭйͿ͕ ^ W> d ;Ͳϯ͘ϮйͿ͕ hE/> s Z ;Ͳ ϭϰ͘ϱйͿ ĂŶĚ E'^h' Z ;Ͳϳ͘ϭйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƐĞůů ŽīƐ ŝŶ EE ;Ͳϰ͘ϵйͿ ĂŶĚ E' D ;ͲϬ͘ϰйͿ ĚƌŽǀĞ ƚŚĞ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž tͲŽͲt ;ͲϬ͘ϮйͿ͘

THISDAY AFRINVEST 40 INDEX Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

THISDAY AFRINVEST 40

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

Current Price

Previous Current Price Weighting Change

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

1,691.07

-1.23%

9.6%

69.1%

26.2%

8.5%

7.6x

1.0x

3.8%

11.8%

1

Guaranty Trust Bank PLC

44.90

-1.6%

21.5%

10.2%

10.7%

30.6%

5.2%

7.4x

2.2x

6.0%

13.5%

2

Zenith Bank PLC

27.60

-4.0%

12.8%

7.6%

6.4%

23.3%

3.4%

4.9x

1.1x

10.7%

20.5%

133.00

0.0%

8.1%

-1.4%

-1.5%

19.2%

8.8%

32.1x

6.0x

3.1%

3.1%

1,380.00

-1.1%

6.5%

-11.3%

-11.3%

89.0%

21.3%

32.4x

24.4x

3.1%

3.1%

264.00

0.5%

6.5%

14.8%

14.8%

30.4%

15.7%

18.2x

5.2x

3.2%

5.5%

3

Nigerian Brew eries PLC

4

Nestle Nigeria PLC

5

Dangote Cement PLC

6

FBN Holdings Plc

11.70

2.6%

6.7%

33.0%

33.1%

2.6%

0.3%

19.0x

0.7x

1.7%

5.2%

7

Access Bank PLC

11.65

-1.3%

4.6%

11.5%

9.9%

15.1%

2.0%

4.7x

0.7x

5.6%

21.2%

4.9x

0.8x

6.7%

20.4%

0.7x

3.1%

-17.5%

8

United Bank for Africa PLC

11.15

-4.3%

4.3%

8.3%

7.1%

17.2%

2.2%

9

Ecobank Transnational Inc

19.80

0.0%

3.5%

16.5%

21.7%

-14.6%

-1.3%

10

SEPLAT Petroleum Development C

760.00

-1.0%

3.4%

21.4%

21.4%

19.4%

11.1%

4.4x

0.8x

50.00

0.4%

3.2%

20.5%

22.2%

28.7%

3.4%

11.5x

3.0x

1.0%

100.20

0.4%

2.2%

6.6%

6.6%

14.6%

5.6%

18.8x

2.6x

0.6%

5.3%

53.00

0.0%

1.8%

18.1%

18.1%

47.1%

9.8%

4.7x

8.0x

1.9%

21.1%

6.1%

11

Stanbic IBTC Holdings PLC

12

Guinness Nigeria PLC

13

Lafarge Africa PLC

22.7% 8.7%

14

Fidelity Bank PLC

2.31

-9.4%

1.1%

-6.1%

-10.5%

8.0%

1.1%

2.0x

0.3x

15

Oando PLC

5.99

0.0%

1.2%

0.0%

0.0%

40.7%

4.2%

2.7x

0.6x

16

Dangote Sugar Refinery PLC

20.90

-5.0%

1.1%

4.5%

2.7%

43.2%

19.8%

8.2x

3.1x

2.4%

12.3%

17

Okomu Oil Palm PLC

72.00

0.0%

1.1%

6.4%

6.4%

37.4%

25.9%

9.6x

3.1x

2.1%

10.4%

18

Unilever Nigeria PLC

53.15

0.5%

1.3%

29.6%

32.2%

50.3%

8.4%

32.7x

12.5x

0.2%

3.1%

19

International Brew eries PLC

57.00

0.0%

0.7%

4.6%

3.7%

24.6%

7.4%

59.7x

13.6x

20

Flour Mills of Nigeria PLC

38.00

1.7%

0.8%

31.0%

31.0%

13.1%

3.0%

7.9x

0.9x

2.4%

12.6%

21

Transnational Corp of Nigeria

0.6%

15.8%

14.2%

19.6%

4.1%

6.8x

1.2x

1.69

-2.9% -0.6%

49.6% 37.0%

1.7%

14.8%

22

UAC of Nigeria PLC

17.95

0.6%

6.2%

6.2%

6.3%

2.2%

11.5x

0.8x

23

Diamond Bank PLC

1.92

0.0%

0.6%

28.0%

22.3%

2.5%

0.3%

7.7x

0.2x

24

Total Nigeria PLC

246.10

0.0%

0.5%

7.0%

7.0%

31.0%

6.5%

10.4x

3.0x

6.9%

9.6%

2.39

0.0%

0.7%

51.3%

3.8%

0.6%

6.9x

0.3x

4.2%

14.4%

176.30

0.0%

4.5%

10.7%

2.2%

4.6%

5.5%

8.7% 12.9%

25

FCMB Group Plc

26

11 PLC

0.4%

-9.4%

-9.4%

32.6%

12.0%

9.4x

2.6x

27

Forte Oil PLC

44.00

0.0%

0.4%

1.2%

4.8%

44.3%

3.7%

11.1x

4.9x

28

PZ Cussons Nigeria PLC

23.00

0.0%

0.4%

11.7%

8.7%

10.7%

5.0%

21.8x

2.2x

29

Cadbury Nigeria PLC

17.10

0.0%

0.4%

9.1%

9.6%

4.5%

1.6%

48.8x

2.9x

30

Presco PLC

72.50

-2.5%

0.4%

5.8%

5.8%

42.9%

25.9%

3.6x

1.3x

2.1%

28.0%

31

NASCON Allied Industries PLC

20.20

-4.9%

0.3%

9.2%

5.1%

54.6%

19.5%

10.0x

4.6x

7.4%

10.0%

32

UPDC Real Estate Investment Tr

10.00

0.0%

0.3%

0.0%

0.0%

0.8x

7.2%

33

Union Bank of Nigeria PLC

6.70

1.5%

0.3%

-14.1%

-10.8%

5.6%

1.2%

34

Julius Berger Nigeria PLC

24.80

0.0%

0.3%

-11.4%

-11.4%

-12.2%

-1.2%

1.71

-5.0%

0.4%

58.3%

51.3%

6.1%

0.6%

9.0x

0.5x

11.1%

0.3%

27.6%

27.6%

61.6%

15.8%

5.0x

2.2x

19.9%

8.6x

9.0%

2.1%

0.4x

11.7%

1.3x

-9.2%

35

Sterling Bank PLC

36

Dangote Flour Mills Plc

15.50

-3.1%

37

GlaxoSmithKline Consumer Niger

21.00

0.0%

0.2%

-2.8%

-2.8%

61.2%

23.6%

4.4x

1.6x

1.4%

23.0%

38

Chemical and Allied Products P

38.75

0.0%

0.2%

14.0%

8.5%

84.3%

38.5%

16.9x

11.9x

5.8%

5.9%

39

Beta Glass PLC

75.70

0.0%

0.2%

47.5%

47.5%

18.4%

11.9%

10.7x

1.8x

1.3%

9.4%

40

Transcorp Hotels Plc

7.45

0.0%

0.1%

3.3%

3.3%

4.7%

2.8%

21.2x

1.0x

1.8%

4.7%

T o p 10 G a ine r s

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

T ic k er

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

C UT IX

2.69

4.7%

Z EN IT H B A N K

87.4

-4.0%

J OH N H OLT

0.54

3.8%

F ID ELIT YB K

46.4

-9.4%

C OUR T VILLE

0.30

3.4%

FB NH

42.7

2.6%

FB NH

11.70

2.6%

A C C ESS

37.2

-1.3% -1.6%

F ID SON

T ic k er

5.25

2.1%

GUA R A N T Y

32.0

38.00

1.7%

D IA M ON D B N K

21.7

0.0%

H ON YF LOUR

2.48

1.6%

UB A

20.5

-4.3%

UB N

6.70

1.5%

M ULT IT R EX

20.0

-4.2%

A F R IP R UD

3.99

0.8%

R EGA LIN S

19.4

0.0%

D A N GC EM

264.00

0.5%

LIN KA SSUR E

10.3

-4.7%

P ric e

P ric e C hg %

F LOUR M ILL

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

T o p 10 L o s e r s

Value

P ric e C hg %

F ID ELIT YB K

2.31

-9.4%

Z EN IT H B A N K

2460.2

-4.0%

J A P A ULOIL

0.67

-8.2%

GUA R A N T Y

1439.3

-1.6%

1.14

-5.0%

FB NH

494.7

2.6%

5.70

-5.0%

ST A N B IC

434.3

0.4%

20.90

-5.0%

A C C ESS

430.5

-1.3%

1.71

-5.0%

D A N GC EM

249.0

0.5%

20.20

-4.9%

UB A

230.0

-4.3%

T ic k er

M C N IC H OLS

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞͿ ƌĂƟŽ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϰdž ĨƌŽŵ ϭ͘ϭdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌŝŽƌ ǁĞĞŬ ĂƐ Ϯϱ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ƌĞůĂƟǀĞ ƚŽ ϱϳ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dZ E^ ;нϭϰ͘ϯйͿ͕ :K,E,K>d ;нϭϮ͘ϱйͿ ĂŶĚ E D ;нϭϭ͘ϲйͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ ǁĞĞŬ ǁŚŝůĞ : W h> K/> ;ͲϯϬ͘ϵйͿ͕ &/ >/dz ;ͲϮϮ͘ϱйͿ ĂŶĚ hE/dz ;ͲϮϭ͘ϱйͿ ǁĞƌĞ ƚŚĞ ůĞĂƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ͘ ůƚŚŽƵŐŚ ƚŚĞ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĞĚ ŶĞŐĂƟǀĞůLJ͕ ǁĞ ďĞůŝĞǀĞ ƚŚŝƐ ŚĂƐ ĐƌĞĂƚĞĚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽƉƉŽƌƚƵŶŝƟĞƐ͘ ,ĞŶĐĞ͕ ǁĞ ĞdžƉĞĐƚ Ă ƌĞďŽƵŶĚ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ĂƐ ŝŶǀĞƐƚŽƌƐ ƚĂŬĞ ƉŽƐŝƟŽŶ ŝŶ ĨƵŶĚĂŵĞŶƚĂůůLJ ƐŽƵŶĚ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘

Monday, March 19, 2018

ET ER N A D A N GSUGA R ST ER LN B A N K N A SC ON

T ic k er

UN IT YB N K

1.35

-4.9%

P R ESC O

223.8

-2.5%

C ILEA SIN G

1.81

-4.7%

SEP LA T

157.3

-1.0%

LIN KA SSUR E

0.81

-4.7%

N EST LE

134.9

-1.1%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

37

˾ MONDAY, MARCH 19, 2018

MARKET NEWS

Morison Industries Gets N502.2m Capital Injection from Shareholders Goddy Egene Morison Industries Plc has successfully raised N502.2 million in new equity funds from its shareholders. Morison Industries had late last year launched a new capital raising for about N502.2 million through new share sale to existing shareholders. The company offered a rights issue of 836.98 million ordinary shares of 50 kobo each at 60 kobo per share on the basis of 11 new ordinary shares for every two ordinary shares of

50 kobo held as at August 25, 2017. GTI Securities Limited acted as the stockbroker to the supplementary share issuance while GTI Capital Limited was the issuing house. The allotment results for the rights issue approved by the Securities and Exchange Commission (SEC) showed that the rights issue was oversubscribed by 1.12 million ordinary shares as shareholders took up their rights and demanded for additional shares. As against 836.98 million shares placed on offer,

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

shareholders placed orders for 838.11 million ordinary shares. Commenting on the outcome of the right issue, Managing Director, Morison Industries Plc, Mr. Nwabueze Oputa, said the new equity funds would be deployed to improve working capital and finance the restructuring of the company. He said that with the new equity funds, shareholders can be well assured of a new era of growth for Morison Industries adding that the directors of the company will work with all stakeholders to achieve its

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 15-Mar-2018, unless otherwise stated.

growth targets. Oputa commended the professionalism of GTI Capital in concluding the rights issue successfully and as scheduled. Meanwhile, Chief Operating Officer, GTI Capital, Mr. Kehinde Hassan, said the success of the right issue has further confirmed GTI Capital’s pedigree of packaging companies to raise capital, irrespective of the macroeconomic and market conditions. According to him, GTI Capital worked with the

directors and management of Morison Industries to convince shareholders on the prospects of the 63 year old healthcare company. “We were able to get many shareholders to subscribe to the shares due to our extensive research on the prospects of the company. Many subscribers were also impressed by the fact that all offers that we had handled in the past usually turned into goldmines, and the facts are out there. So the trust in GTI Capital positively rubs off on the exciting prospects

of a recapitalised Morison Industries,” Hassan said. He reiterated the commitment of GTI Capital Group to support the growth of indigenous economy by providing amenable debt and equity capital and other advisory services to Nigerian companies. He pointed out that with its international presence, GTI Capital Group is wellpositioned to handle private and public fund raisings for companies in Nigeria and beyond.

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 189.48 190.14 6.58% Nigeria International Debt Fund 241.30 241.97 4.28% 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 4.49% ACAP Income Funds 0.63 0.63 4.46% 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 15.70% 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 163.18 164.33 7.57% AXA Mansard Money Market Fund 1.00 1.00 15.68% 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 12.83 13.11 3.59% Women's Investment Fund 102.55 105.18 1.91% 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 N/A N/A N/A 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 15.07% Coronation Balanced Fund 1.11 1.13 5.81% Coronation Fixed Income Fund 1.09 1.13 5.65% 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 1,192.08 1,193.25 3.85% FBN Heritage Fund 148.94 150.32 6.86% FBN Money Market Fund 100.00 100.00 15.10% FBN Nigeria Eurobond (USD) Fund - Institutional $114.95 $115.46 1.79% FBN Nigeria Eurobond (USD) Fund - Retail $114.98 $115.49 1.91% FBN Nigeria Smart Beta Equity Fund 179.89 182.68 11.76% 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 1.39 1.42 6.64% Legacy Debt Fund 2.96 2.96 2.78% 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 3,170.44 3,209.94 6.31% Coral Income Fund 2,542.97 2,542.97 3.94% 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 15.15% 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 2.16 2.18 2.30% Vantage Guaranteed Income Fund 1.00 1.00 16.54% Kedari Investment Fund (KIF) 117.77 118.11 2.39%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.17 1.19 1.68% Lotus Halal Fixed Income Fund 1,058.53 1,058.53 2.66% 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 16.33 16.47 15.83% Meristem Money Market Fund 10.00 10.00 14.17% 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 1.33 9.60% PACAM Fixed Income Fund 11.42 11.48 3.48% PACAM Money Market Fund 10.00 10.00 13.05% 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 3.32% 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 2,384.09 2,403.14 6.27% Stanbic IBTC Bond Fund 179.87 179.87 1.94% Stanbic IBTC Ethical Fund 1.10 1.11 9.41% Stanbic IBTC Guaranteed Investment Fund 228.53 228.63 3.78% Stanbic IBTC Iman Fund 195.29 197.51 9.05% Stanbic IBTC Money Market Fund 100.00 100.00 14.78% Stanbic IBTC Nigerian Equity Fund 10,466.74 10,610.73 8.25% 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 1.34 1.36 0.73% United Capital Bond Fund 1.61 1.61 2.64% United Capital Equity Fund 1.02 1.05 11.98% United Capital Money Market Fund 1.00 1.00 13.63% United Capital Eurobond Fund 104.78 104.78 1.83% United Capital Wealth for Women Fund 1.13 1.14 3.83% 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 13.36 13.56 7.16% Zenith Ethical Fund 14.12 14.29 7.04% Zenith Income Fund 19.62 19.62 3.72% Zenith Money Market Fund 1.00 1.00 13.02%

REITS NAV Per Share

Yield / T-Rtn

10.00 134.07

-11.35% 1.22%

Bid Price

Offer Price

Yield / T-Rtn

12.62 160.76 120.11

12.72 164.22 122.36

4.11% 12.57% 9.94%

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

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A

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.

38

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T H I S D AY ˾ MONDAY MARCH 19, 2018

39

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T H I S D AY ˾ MONDAY MARCH 19, 2018

41

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T H I S D AY Ëž Ë&#x153; ͯ͡Ë&#x153; Í°ÍŽÍŻÍś

CITYSTRINGS

Ă?Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă?Ă&#x2039;Ă&#x17E;Ă&#x;Ă&#x153;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153;Ë? Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x2013;Ă?Ă? Ă&#x201D;Ă&#x;Ă&#x2DC;ĂĄĂ&#x2039; Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x2013;Ă?Ă?Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x;Ă&#x2DC;ĂĄĂ&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

Refuse heap along Apapa-Mile 2 Expressway...outbreak of epidemic inevitable

Worsening Apapa Roads Ugo Aliogo, in this report, takes a look at the challenges faced by drivers and other road users in accessing Apapa and Tin Can ports

B

olaji Bolakale sat in the driver side of his truck, pondering over lots of issues. On his face, one would see the look of long suffering that slackened his jaw and reddened his eyes. He seemed broken by worries. When he spoke there was a feeling of anguish from his voice. Sitting beside him in the vehicle is his assistant, a frail looking young man clutching two wraps of fufu and a plastic pack of Egusi soup. He seemed engrossed in the meal and not ready to start a conversation until he was done devouring the food. While for Bolakale, it was a different kettle of fish. His truck has been stationed in a long queue for five days and there is no hope of moving from the spot, from where it is to a new position. â&#x20AC;&#x153;We use almost four days to get to Coconut from Mile 2, sometimes it takes five days, if the road was good, I usually do two trips daily. This has led to officers of the Nigeria Police Force (NPF) extorting us. From Berger under bridge to the MTN signpost, the police

Beyond the issue of the gridlock, the hygiene condition of the environment is another teething challenge. With the rainy season gradually creeping in, some parts of the road are usually ďŹ&#x201A;ooded, smelly and ďŹ lled with potholes and become death traps

Apapa-Mile 2 Expressway....littered with ďŹ lth

allegedly collect N5, 000,â&#x20AC;? he noted. He noted that when there is a leeway for them to move forward, they usually cannot make headway, because there is no space for container carriers and other heavy duty trucks

to move, â&#x20AC;&#x153; in the bid to hustle our way through our truck develops one fault or the other.â&#x20AC;? Beyond the issue of the gridlock, the hygiene condition of the environment is another teething challenge. With the rainy season gradually

creeping in, some parts of the road are usually flooded, smelly and filled with potholes and become death traps. Refuse heaped on both sides of the road and spreads to the middle. Some of the drivers who spend days on the

43

T H I S D AY Ëž Ë&#x153; ͯ͡Ë&#x153; Í°ÍŽÍŻÍś

CITYSTRINGS

The deplorable state of the Apapa-Mile 2 Expressway

Flooded part of the Apapa-Mile 2 Expressway

road, have formed the habit of eating, defecating and bathing on one spot, thus messing up the road and leaving it with unpleasant smells and odours. In some parts of the road are splotches of faeces. For Bolakale, the messing up of the road is a situation which can be addressed within a short time, if the federal government takes necessary measures to repair the road which would curb the traffic situation. Like his conspirators who engage in messing up the road, he is not happy about the development. His angst about the situation is that eating in such environment is not healthy and it may place the health of the driver in grave danger, â&#x20AC;&#x153;there is a lot of refuse in this area. Therefore, feeding here is a big challenge for us. Everywhere is smelly and dirty because of the bad road and continuous deposit of rubbish.â&#x20AC;? The alleged police extortion is a major challenge which the truck drivers face in their quest to move into the port. He noted that at night, the Police allegedly collect N10, 000 from drivers who comply, then the Police take them out from the queue in either Mile 2 or Berger Under-bridge to pass one-way traffic and they stop at Coconut, a suburb close to Apapa. It was also alleged that the journey from Coconut would also require another amount of money from them to get to the port. The alleged extortion is worrisome and frustrating. Those that refuse to pay remain at the same spot where they will spend up to five days. Bolakale is not eager to end the conversation without an appeal to government to find a solution to these challenges especially the repair and maintenance of the road. Another

challenge which he stated was the issue of small scale thievery which goes on daily especially at nightfall. â&#x20AC;&#x153;We face the issue of stealing at night. This stealing is carried out by young men staying around. They engage in stealing our vehicle batteries, spare tyres, phones, and other useful belongings and abscond. It is not safe here, our lives and property are at the mercy of these thieves. â&#x20AC;&#x153;We are extorted by the Lagos State Maintenance Agency (LASTMA), area boys and the Police. These levies are too high for us to continue. These police officers stand at strategic locations to extort us and allow trucks not on the queue to pass because the drivers have

The condition of the Mile 2 to Apapa Road was outrightly deplorable. Some parts of the road had potholes ďŹ lled with water, while other areas were ďŹ&#x201A;ooded. Commuters and pedestrians face hard times using the road. Despite media reports, advocacy, calls and warnings to federal government to repair the road, everything has fallen on deaf ears

paid heavily to them. They allow them pass one-way which is against the law. â&#x20AC;&#x153;We spend too much money and nothing meaningful has been done in addressing the situation. There are trucks coming from Ajegunle axis, Kirikiri and Apapa eager to join the queue, these truck drivers have allegedly paid heavily to the police who will take them through without queuing. There are various forms of extortion in this place, people create fake tickets just to extort us, they are inside Ajegunle and they alleged that they are from Apapa Local Government Area,â&#x20AC;? Bolakale lamented. From THISDAY's observation, it was learnt that the condition of the Mile 2 to Apapa Road was outrightly deplorable. Some parts of the road had potholes filled with water, while other areas were flooded. Commuters and pedestrians face hard times using the road. Despite media reports, advocacy, calls and warnings to federal government to repair the road, everything has fallen on deaf ears. According to reports, the Nigeria Ports Authority (NPA) contributes over one trillion naira yearly to the economy. THISDAY carried out an investigation to know from those who experience the pains and losses from the bad state of the road. THISDAY visited the Joint Council of Seaport Truckers (JCOST). The body was formed six years ago as a confederation of all the trucking unions operating in the nationâ&#x20AC;&#x2122;s maritime sector of the economy. The union had gradually become a voice for truckers in the maritime sector. The President of the union could not be reached for comment, but a member of the union, Ikechukwu Ogbeuibi who spoke to THISDAY was buoyed by the glimmer of

hope, that the road may not receive a new lease of life. He began sharing his thoughts by trying to place a lid on the emotions bubbling inside him. He noted that to load any container with goods from the port, it would take weeks, adding that some can be on the road for a month even with an empty container. He explained that the road has been in a bad condition for a while now, when former President Goodluck Jonathan was in power and it was unattended to adding that President Muhammadu Buhari has not made the much needed efforts to repair the road. He said the little maintenance on going on the road has been through the efforts of stakeholders and some companies, stressing that they have been working on the road based on palliative measures. According to him, â&#x20AC;&#x153;There is an unwelcome situation happening at the moment, the new task force, which we donâ&#x20AC;&#x2122;t know the power behind it, has been frustrating our efforts, they donâ&#x20AC;&#x2122;t allow trucks to move in as at when due, for example, Apapa and Tin Can Ports are not the same. We have a different road that links them; this team of task force will create unacceptable queues for trucks until you pay them a token amount of money. â&#x20AC;&#x153;They divert drivers against their preferred destination; even the military and most naval officers that were posted here always treat our drivers badly. They treat us like terrorist in war, giving us series of inhuman maltreatment, beating most drivers like animals and other form of punishments. â&#x20AC;&#x153;While on the road for days, weeks or months, some of these officers will come and question the reason behind any stagnant queues, while allegedly requesting for money to clear your container through one way. If you fail to abide, it leads to series of beating with their superior showing unconcerned attitude towards our plight. â&#x20AC;&#x153;The windscreen of our trucks sometime gets smashed with heavy woods by officers of the Task Force. Though one of the cases has been reported to the Office of the Area Commander of Area B Police Station, but nothing has been done. â&#x20AC;&#x153;If you look at how our trucks are parked, you will notice that the trucks to Apapa Port will be on different lane while the ones for Tin Can Port will be on a different lane. We have complained tirelessly and I donâ&#x20AC;&#x2122;t know if they will answer our pleading soon and if nothing is done about it, we have no option than taking off our trucks from the road. â&#x20AC;&#x153;We sent our President, Alhaji Kayode to have a meeting with the Area Commander on our behalf concerning our plight, and he said he has met him twice, yet nothing has been done about it, most especially the major area of our problem which is Ijora. We are open to dialogue either with the federal or state governments; let them see to our problem, the continuous maltreatment from the task force officers is unbearable.â&#x20AC;?

T H I S D AY ˾ ͯͷË&#x153; ͰͮͯͶ

44

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 16th-MARCH 2018 This publication: Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

1

TOP STEEL NIGERIA LIMITED

2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

17 18 19 20 21 22 23 24 25 26 27 28

29

30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72

ITEM OF IMPORT

PLOT NO478-479 IKORODU INDUSTRAL SCHEME ODOGUNYAN, LAGOS, IKORODU, LAGOS TOP STEEL NIGERIA LIMITED PLOT NO478-479 IKORODU INDUSTRAL SCHEME ODOGUNYAN, LAGOS, IKORODU, LAGOS WANDEL INTERNATIONAL NIG LTD 77/79ERIC MOORE ROAD, SURULERE, SURULERE, LAGOS ECOBANK NIGERIA LIMITED OFFSHORE CHARGES EAGLE INDUSTRIES INTL CONCEPT LIMI INSTAND FAT FILLED MILK POWDER 28% - FORTO 25KG A A RANO NIGERIA LTD/ECOBANK PAYMENT FOR PETROLEUM PRODUCTS NIGERIA LIMITED PRUDENT ENERGY AND SERVICES LTD IMPORTATION OF PETROLEUM PRODUCTS EAGLE INDUSTRIES INTL CONCEPT LIMI INSTAND FAT FILLED MILK POWDER 28% - FORTO 25KG EAGLE INDUSTRIES INTL CONCEPT LIMI FULL CREAN MILK POWDER GAS FLUSHED 28.1% INS/VIT KG 25KG BAG PRUDENT ENERGY AND SERVICES LTD/ IMPORTATION OF PETROLEUM PRODUCTS ECOBANK NIGERIA EAGLE INDUSTRIES INTL CONCEPT LIMI FULL CREAM MILK POWDER GAS FLUSHED 28.1% INS/VIT KG 25KG BAG A A RANO NIGERIA LTD PAYMENT FOR PETROLEUM PRODUCTS EAGLE INDUSTRIES INTL CONCEPT LIMI/ INSTAND FAT FILLED MILK POWDER 28% - FORTO 25KG ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED OFFSHORE CHARGES PRUDENT ENERGY AND SERVICES LTD IMPORTATION OF PETROLUEM PRODUCTS MANTRAC NIGERIA LIMITED NEW CATERPILLAR NATURAL GAS OPERATION GENSET CG170-16K-1500 EKW 415V @ UNITY PF-50HZ- 1500 RPMCONTINOUS POWER AT ISO CONDITIONING EACH WITH ATTACHMENTS, MEDIUM NWANKWO KELECHI BTA PTA ADENUGBA ADEWALE ADEBOLA BTA PTA OLUMUYIWA OLADIPO KEHINDE BTA PTA OKPODU JAVIS OCHUKO BTA PTA IGE RACHEAL MORENIKE BTA PTA BTA PTA ABIMBOLA SAHEED MOBOLAJI BTA PTA RABIU BINTA IBRAHIM AKANMU OLUSOLA JOHNSON BTA PTA OKONKWO OGECHUKWU CONSTANCE BTA PTA MUHAMMAD IBRAHIM DANWAWU BTA PTA ORONIRAN OPEYEMI OYENIKE BTA PTA MANTRAC NIGERIA LIMITED NEW CATERPILLAR NATURAL GAS OPERATION GENSET CG170-16K-1500 EKW 415V @ UNITY PF-50HZ- 1500 RPMCONTINOUS POWER AT ISO CONDITIONING EACH WITH ATTACHMENTS, MEDIUM MANTRAC NIGERIA LIMITED NEW CATERPILLAR NATURAL GAS OPERATION GENSET CG170-16K-1500 EKW 415V @ UNITY PF- 50HZ- 1500 RPM- CONTINOUS POWER AT ISO CONDITIONING EACH WITH ATTACHMENTS, MEDIUM TOP STEEL NIGERIA LIMITED PLOT NO478-479 IKORODU INDUSTRAL SCHEME ODOGUNYAN, LAGOS, IKORODU, LAGOS RNDC ALLIANCE WEST AFRICA LIMITED BLOCK 2RIVER PATOKA CLOSE,OFF NILE STREET MAITAMA, ABUJA, MUNICIPAL AREA COUNCIL, FCT ADENUGBA ADEWALE ADEBOLA EDUCATION UDE PATRICK CHIJIOKE EDUCATION CHIKWERE CHUKWUEBUKA BENNETH EDUCATION EDJEMRE JOLOMI DOMINGO EDUCATION EDJEMRE JOLOMI DOMINGO EDUCATION EDJEMRE JOLOMI DOMINGO EDUCATION OJI ONYEKACHI OKORO EDUCATION OLATUNDE OLUWOLE PHILLIPS EDUCATION TOP STEEL NIGERIA LIMITED LADLE CONVERTER GOODS NORTHERN CABLE PROCESSING AND 12, MAICIBI ROAD, INDUSTRIAL ESTATE, KADUNA SOUTH, MANU KADUNA STARLINE NIGERIA LIMITED EZIAMA ABA ABIA STATE. STARLINE NIGERIA LIMITED EZIAMA ABA ABIA STATE. ECOBANK NIGERIA LIMITED PAYMENT FOR SUBSCRIPTION ZAKON GLOBAL LINKS LIMITED SPORTS EQUIPMENT I CARES VENTURES WATER PUMP KENZEE METRICS INTERNATIONAL AUTO INJECTOR COMPANY CHICOS BROTHERS LIMITED TAILORING MATERIAL(SEWING THREAD JUMATEX INVESTMENT LIMITED WATER PUMP MEKZEK TECHNOLOGIES POWDER COATED ALUMINUM PROFILE EDU FEELINGS INTERNATIONAL LTD WALL PAPER AL TERSALI CONCEPTS INTERNATIONAL ELECTRIC KETTLE TWC VENTURES ARGENTINE POP CORN LAWKONYES INVESTMENT LIMITED TAILORING MATERIAL(SEWING THREAD A ANNY LINK VENTURES LIMITED DISCHARGE LAMPS(B22 MODEL) HIGH TECH GLOBAL FIRMS LTD LED TV A.N ELUAGU AND SONS LTD ANIMAL FEED PROTEIN SUPPLEMENT FOR FISH GOLDEN CEEJAY INTERNATIONAL LTD AIRCONDITION BRACKETS AL TERSALI CONCEPTS INTERNATIONAL TOOTH BRUSH OCHIRI BEST VENTURES NIG TAILORING MATERIAL(SEWING THREAD TRUST POINT OIL AND GAS LIMITED PETROL DISPENSING PUMP REMSPAUL INTERNATIONAL COMPANY DISCHARGE LAMPS(B22 MODEL) IFY SAM AND BROS ELECTRICAL BULBS (BRAND: PILLA) IROMEM LIMITED WATER PUMP EDU T.F.INTERNATIONAL LIMITED WATER PUMP OBEY BEST INTL. DISCHARGE LAMP(BRAND/MODEL-PROMA WALL BRACKET TYPE, B22/100K, 100W OGENE CONCERNS LIMITED HAMMER VINCENT JACKSON RESOURCES LIMITED STEEL DOORS PROAERO INDUSTRIES LIMITED MACHINERY(FILLING & SEALING MACHINE FOR TOMATO KETCHUP) IBEH CHINENYE NWANYIBUZO BTA PTA UMADIA KINGSLEY BTA PTA AKINKUGBE OLURONKE ADEOLA BTA PTA

DATE OF EXCHANGE FUND RATE PURCHASE

AMOUNT

SN

CUSTOMER

ITEM OF IMPORT

DATE OF EXCHANGE FUND RATE PURCHASE

AMOUNT

73 74 75 76 77

BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA

13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18

360.00 360.00 360.00 360.00 360.00

4,000.00 4,000.00 4,000.00 2,000.00 4,000.00

BTA PTA CCI CANCELLATION

13-Mar-18 14-Mar-18

360.00 4,000.00 306.00 7,393,005.27

BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION AC MOTOR BRAND: DURAMOTOR/QASA AUTOMATIC VOLTAGE REGULATOR-DURAVOLT BRAND IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT INDUSTRIAL RAW MATERIAL:STEEL FOR TOWERS AND LATTICE MASTS BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION IMPORT OF INDUSTRIAL RAW MATERIAL - PET RESIN PURCHASE OF 17,7000 PCS OF ASSORTED VACUUM FLASKS

14-Mar-18

336.25

703,655.00

14-Mar-18

336.25

1,811.26

14-Mar-18 14-Mar-18

336.25 336.25

29,520.89 53,119.97

14-Mar-18

336.25

703,655.00

14-Mar-18 14-Mar-18

336.25 336.25

118,450.00 27,108.20

14-Mar-18

336.25

12,670.00

14-Mar-18 14-Mar-18

336.25 336.25

10,058.00 19,000.00

14-Mar-18

336.25

34,200.00

14-Mar-18

336.25

18,351.20

14-Mar-18

336.25

30,108.80

14-Mar-18 14-Mar-18

336.25 336.25

23,000.00 6,998.08

14-Mar-18 14-Mar-18 14-Mar-18

336.25 336.25 336.25

8,311.00 68,500.00 296,630.00

14-Mar-18 14-Mar-18 14-Mar-18

336.25 336.25 336.25

45,000.00 27,500.00 34,197.20

14-Mar-18

336.25

96,603.66

14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18

336.25 336.25 336.25 336.25

39,101.70 18,677.27 25,234.90 21,503.50

14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18

360.00 360.00 360.00 336.25

1,100.00 1,632.00 5,700.00 779,000.00

14-Mar-18 14-Mar-18 14-Mar-18

336.25 1,215,607.04 336.25 131,625.20 336.25 27,000.00

14-Mar-18 14-Mar-18

336.25 336.25

200,000.00 100,000.00

14-Mar-18 14-Mar-18

336.25 336.25

200,000.00 92,500.00

14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18

336.25 106,350.00 336.25 56,376.88 336.25 2,381,574.26 336.25 16,000.99 336.25 36,135.00 336.25 16,500.00 336.25 26,291.70

14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

100.00 3.96 15.05 225.45 861.92 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00

14-Mar-18 14-Mar-18 14-Mar-18

360.00 360.00 360.00

20,000.00 20,000.00 20,000.00

14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18

360.00 360.00 360.00 360.00 360.00

20,000.00 20,000.00 11,000.00 20,000.00 20,000.00

12-Mar-18

347.00

76,576.77

12-Mar-18

347.00

8,047.87

12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18

347.00 360.00 360.00 360.00

15,375.36 16.69 100.00 3,538.64

12-Mar-18 12-Mar-18 12-Mar-18

360.00 360.00 360.00

100.00 3,971.68 125.59

80

MUSE IDAYAT BOLANLE TALABI OLUWAFUNMIKE MODINAT EKPO INEMESIT JOY NWAHIZU CHIJINDU UZOCHUKWU OGUNTIMEHIN OLUKAYODE OLUMUYIWA OMOSEHIN MABEL BOLAJOKO ECOBANK TRANSNATIONAL INCORPORATED DAG INDUSTRIES NIGERIA LTD

81

OBOTICA INDUSTRIAL LTD

12-Mar-18

360.00

4,738.92

12-Mar-18

360.00

7,957.76

82 83

12-Mar-18 12-Mar-18

360.00 360.00

100.00 3,706.90

FRANKENSTEIN INNOVATORS LIMITED BIMVENUS MULTIPURPOSE CONCEPT INTL DAG INDUSTRIES NIGERIA LTD

12-Mar-18 12-Mar-18 12-Mar-18

360.00 360.00 360.00

80.69 5,110.00 150,000.00

12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 13-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 352.00

1,854.75 4,000.00 1,500.00 1,000.00 4,000.00 4,000.00 2,000.00 4,000.00 4,000.00 4,000.00 2,767.80 207,591.04

13-Mar-18

360.50 1,000,000.00

78 79

84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101

13-Mar-18

352.00

21,952.13

13-Mar-18

352.00

125,000.00

13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 352.00 360.00

14,999.04 695.00 3,500.00 7,522.16 11,025.25 6,586.88 2,100.00 9,743.30 12,966.00 50,600.00

13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00

66,520.36 3,400.00 8,351.40 10,000.00 20,000.00 10,000.00

13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

20,000.00 20,000.00 10,000.00 20,000.00 1,210.00 9,975.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 2,500.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00

13-Mar-18 13-Mar-18 13-Mar-18

360.00 360.00 360.00

20,000.00 20,000.00 20,000.00

13-Mar-18 13-Mar-18 13-Mar-18

360.00 360.00 360.00

2,505.42 4,000.00 4,000.00

102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141

REGAL CHEM NIGERIA LIMITED CROWNSTAR COMMERCIAL INVEST NIG LTD REGAL CHEM NIGERIA LIMITED

IMPORT OF INDUSTRIAL RAW MATERIAL - POLYPROPYLENE COPOLYMER EVERICH INTERNATIONAL LIMITED PURCHASE OF ELECTRICAL MATERIALS BEAUTYFAIR LABORATORIES LIMITED IMPORT OF CHEMICAL INDUSTRIAL RAW MATERIAL METHYL PARABEN AND LACTIC ACID KRISHAT PHARMA INDUSTRIES LIMITED PHARMACEUTICAL PACKAGING/BUILDING/RAW MATERIALS AND MACHINERY CROWNSTAR COMMERCIAL INVEST SPAREPARTS OF ASSORTED APPLIANCES NIG LTD WHITFIELD VENTURES LTD SETTLEMENT FOR UNPAID SUPPLIER'S INVOICE FOR PHOSPHORIC ACID HANA PACKAGING LIMITED MACHINE - SIDE SEALING OBOTICA INDUSTRIAL LTD AC MOTOR BRAND: DURAMOTOR/QASA AUTOMATIC VOLTAGE REGULATOR-DURAVOLT BRAND KEDILASO INTERNATIONAL LIMITED WASHING MACHINE & NYLON SEALER REGAL CHEM NIGERIA LIMITED IMPORT OF INDUSTRIAL RAW MATERIAL - LLDPE DAG INDUSTRIES NIGERIA LTD BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION FRANKENSTEIN INNOVATORS LIMITED IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT KRISHAT PHARMA INDUSTRIES LIMITED PHARMACEUTICAL MACHINERY KRISHAT PHARMA INDUSTRIES LIMITED PHARMACEUTICAL PACKAGING/BUILDING/RAW MATERIALS AND MACHINERY S.C JOHNSON AND SON NIGERIA GIVAUDAN Q-29791, SODIUM NITRITE, CYFLUTHRIN 95%, LIMITED ETHYLENE GLYCOL PHENYL ETHER, D- ALLETHRIN 92.5%/ PYNAMIN FORTE, SODIUM LAURETH-3 SULFATE 70%, PRALLETHRIN 92%/ ETOC REGATTA INDUSTRIES LIMITED IMPORT OF INDUSTRIL RAW MATERIAL - PARAFFIN OIL FRANKENSTEIN INNOVATORS LIMITED IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT FRANKENSTEIN INNOVATORS LIMITED IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT SUBAYA METALWARE NIGERIA ESSENTIAL INDUSTRIAL PARTS FOR FAN: HIGH POWER MOTOR : LEXUS BRAND OLANREWAJU ALEGBELEYE EDUCATION ENE EMMANUEL MADUABUCHI EDUCATION EDOH PETER (MR AND MRS) EDUCATION ECOBANK TRANSNATIONAL INCORCCI CANCELLATION PORATED PRUDENT ENERGY AND SERVICES LTD IMPORTATION OF PETROLEUM PRODUCTS SUMAL FOOD LIMITED GUM BASE CARSO BB SHEETS BOND CHEMICAL INDUSTRIES LTD IMPORTATION OF PHARMACEUTICAL RAW MATERIAL , PACKING MATERIAL, MACHINE AND SPARES OVH ENERGY MARKETING LIMITED BASE OIL AS PER PFI NOS: FH/110118A,B,C EASTCHASE ALUMINIUM PRODUCTS PURCHASE OF RAW MATERIAL ALUMINUM PLAIN COILS LIMITE BASE FLUID EXCHANGES LTD BASE OIL GLOBAL MANUFACTURING ALLIANCE TITANIUM DIOXIDE AND RAGI INDUSTRIES LIMITED INDUSTRIAL RAW MATERIALS - MENTHOL CRYSTALS GBMT GLOBAL LIMITED INDUSTRIAL RAW MATERIAL HOT ROLLED STEEL SHEETS PRUDENT ENERGY AND SERVICES LTD IMPORTATION OF PETROLEUM PRODUCTS GBMT GLOBAL LIMITED INDUSTRIAL RAW MATERIAL HOT ROLLED STEEL SHEETS SCC NIGERIA LIMITED (2) DESIGN SERVICES SCC NIGERIA LIMITED (2) INTERNET SERVICES EMBASSY OF PORTUGAL EMBAIXADA CONSULAR REMITTANCE FOR FEBRUARY 2018 ABUJ A A RANO NIGERIA LTD OFFSHORE CHARGES ECOBANK NIGERIA LIMITED OFFSHORE CHARGES ECOBANK NIGERIA LIMITED OFFSHORE CHARGES STUDIO PRESS NIGERIA PLC OFFSHORE CHARGES A A RANO NIGERIA LTD OFFSHORE CHARGES SOLID GEME CO LTD SPORTS EQUIPMENT TOBBYKINGS CONCEPTS ANIMAL FEED PROTEIN SUPPLEMENT FOR FISH SUPER TEN TEN INVESTMENT LIMITED NEW PORTABLE AGRICULTURAL WATER PUMP FABUC MASTERS INDUSTRIES LTD MACHINERY IKEH CLEMTRADE AND COMPANY DRAWER LOCK NIG LTD AUTHENTIC MOBY NIG. LTD. AIRCONDITION BRACKETS GIDEON ELECTRONIC AND ALLIED PDT SPORTS EQUIPMENT JOHN VIANNEY GLOBAL SERVICES BICYCLE ROLLER CHAIN LIMITED PRO FAV INTERNATIONAL LTD WALL PAPER DECORATIVE ANOVIN GLOBAL RESOURCES LTD WATER PUMP DUSTODON VENTURES SPORTS EQUIPMENT MESTAN INTER LINKS LIMITED BICYCLE ROLLER CHAIN KON NZE GLOBAL IMPEX LIMITED BICYCLE ROLLER CHAIN

45

T H I S D AY ˾ MONDAY MARCH 19, 2018

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 16th-MARCH 2018 This publication: Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

142 143 144 145 146 147 148 149 150 151 152 153 154

ONWUDE CLARA OMEIZA KIKELOMO OMOLABAKE ONEBUNNE OKWUDILI MARTIN OBIETIALA CHIGOZIE JOHN DAHIRU ABDULLAHI OMALE-EDDY JENNIFER MARYSYLVIA NDUBUISI IHEDIGBO EMELIKE OJO SUNDAY OLAMILEKAN ORASEME SONNIE IDIKISIMAMA CHUKWURAH JUDITH EZIM UKO ADETOKUNBO ECOBANK NIGERIA LIMITED BLESSED EMMY KING INTERNATIONAL LIMITED 155 E OFOSCO AUTO SUPPLY NIGERIA ENTS 156 BALLAK INDUSTRIES LIMITED 157 MACS BUSINESS VENTURES. 158 159 160 161 162 163 164 165 166 167

OKWUS NIGERIA CABLES LIMITED HEANOTEL RESOURCES NIGERIA SUNNY IMPEX INDUSTRIAL NIG LTD EDIANE AND SONS CO NIGERIA BUT ONE DAY LIMITED MUNZALI RABIU NIG LTD E.SCENT INVESTMENTCO.LTD PURE LIGHT AUTO PRODUCTS LIMITED G. EZEIKE AND BROTHERS ENT NIG SOFTWAY UNIVERSAL CO LTD

168 MANTRAC NIGERIA LIMITED

169 170 171 172 173 174 175 176 177 178 179 180 181 182

MANTRAC NIGERIA LIMITED MANTRAC NIGERIA LIMITED ONAKPOBERUO LUCKY OYEBANJI ADEDAYO ABISOLA NWGWE FIDELIS CHIZOBA MAZI CECILIA NNENNA IKHELOA OSEZUA DADA MATILDA ETIOSA OKOH AIHE ONWUARAGHI PATRICK MAZI KENNETH CHUKWU SHODIJO ABIMBOLA WURAOLA YETUNDE AKINLOYE VISTA INTERNATIONAL LIMITED

183 VISTA INTERNATIONAL LIMITED 184 VISTA INTERNATIONAL LIMITED 185 VISTA INTERNATIONAL LIMITED 186 VISTA INTERNATIONAL LIMITED 187 VISTA INTERNATIONAL LIMITED 188 VISTA INTERNATIONAL LIMITED 189 VISTA INTERNATIONAL LIMITED 190 VISTA INTERNATIONAL LIMITED 191 TOP STEEL NIGERIA LIMITED 192 TOP STEEL NIGERIA LIMITED 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214

AYUBA VICTORIA NWANGWU INNOCENT OBI IKOSA FLORENCE ODEGWA PASEDA ABIMBOLA AYOMIDE UKO ADETOKUNBO OKWWUIKPO IHE FIDON STORES PANEK GLOBAL SERVICES LTD LAKWAYA ENTERPRISES NIG LTD ADINDU LILIAN OCHEZE ANYANWU GOGO ADENIRAN OLAYINKA BASSEY REGINA ETIM HARRY SOTONYE BECKY FAROUNBI OMOLARA EVELYN OBIETIALA CHINENYE GERALDINE AGADA SAMPSON CHINWENWA EJIM CONSTANCE NONYE LADENEGAN ADEWALE SOLOMON OLORONDU JOY FRANCISCA ALIYU HADIZA MUKHTAR ODUMESI ABIODUN KEHINDE

ITEM OF IMPORT

DATE OF EXCHANGE FUND RATE PURCHASE

AMOUNT

BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA EDUCATION EDUCATION EDUCATION TRAINING FEES DISCHARGE LAMPS(CAPACITY:80W) BRAND/MODEL:SWIK/ B22, E27 BURNER DISCHARGE LAMPS (CAPACITY:80W) BRAND/MODEL: SWIK/ B22, E27 DISCHARGE LAMPS(CAPACITY:80W) BRAND/MODEL: SWIK/ B22, E27 CABLES AUTOMOBILE SPARE PARTS(PISTON AND RINGS ASSY) CRANK SHAFT FOR X2 MODEL: DOLLMAR MACHINE TIGER HEAD BRAND PAPER JACKET DRY BATTERY ART UNCOATED KRAFT PAPER AND BOARD TORCH LIGHT CABLES(KAMEL BRAND) BURNER SPORTS EQUIPMENT DISCHARGE LAMPS(CAPACITY:80W) BRAND/MODEL: SWIK/ B22, E27 NEW CATERPILLAR NATURAL GAS OPERATION GENSET CG170-16K-1500 EKW 415V @ UNITY PF- 50HZ- 1500 RPM- CONTINOUS POWER AT ISO CONDITIONING EACH WITH ATTACHMENTS, MEDIUM VARIOUS OLYMPIAN DIESEL GENERATOR SETS VARIOUS OLYMPIAN DIESEL GENERATOR SETS BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA INDUSTRIAL RAW MATERIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: PLANT & MACHINERY AND EQUIPMENTS FOR STEEL MELTING SHOP, CONTINUOUS CASTING MACHINE , 132/33 KV ELECTRIC SUBSTATION WITH PARTS & ROLLING MILL PLANT & MACHINERY AND EQUIPMENTS FOR STEEL MELTING SHOP, CONTINUOUS CASTING MACHINE , 132/33 KV ELECTRIC SUBSTATION WITH PARTS & ROLLING MILL EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION UMBRELLA ELECTRICAL FUSE BOX (PANEK BRAND) TORCH LIGHT BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA

14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

3,987.72 4,000.00 4,000.00 4,000.00 2,900.00 4,000.00 4,000.00 1,000.00 1,077.00 3,796.50 3,239.72 15,990.00 20,000.00

15-Mar-18 15-Mar-18

360.00 360.00

20,000.00 20,000.00

15-Mar-18

360.00

20,000.00

15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

20,000.00 10,000.00 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 10,000.00 20,000.00

15-Mar-18

359.00

211,035.96

15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 16-Mar-18

359.00 360.50 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 315.00

48,964.04 300,000.00 4,000.00 3,998.71 4,000.00 3,991.71 1,000.00 2,750.00 4,000.00 4,000.00 3,991.71 4,000.00 4,000.00 2,476.23

16-Mar-18

315.00

189,357.58

16-Mar-18

315.00

191,536.20

16-Mar-18

315.00

7,025.00

16-Mar-18

315.00

108,599.45

16-Mar-18 16-Mar-18

315.00 315.00

153,847.46 191,990.16

16-Mar-18

307.05

196,990.00

16-Mar-18

315.00

135,167.92

16-Mar-18

315.00

53,250.00

16-Mar-18

315.00

49,860.00

16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

2,469.60 3,225.40 1,565.00 13,199.76 4,114.00 600.00 20,000.00 20,000.00 10,000.00 4,000.00 1,400.00 4,000.00 1,000.00 4,000.00 1,388.00 2,000.00 4,000.00 4,000.00 3,000.00 4,000.00 3,000.00 4,000.00

RETURNS ON SOURCES OF FUNDS PURCHASED FROM CUSTOMERS FOR THE WEEK ENDED FRIDAY 16TH-MARCH 2018

SN

SOURCE

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

OTHERS OTHERS OTHERS OTHERS INTERBANK INTERBANK INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHERS OTHERS OTHERS CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS TOTAL AMOUNT AVERAGE AMOUNT

DATE OF FUND PURCHASE 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 12-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 13-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 14-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 15-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18 16-Mar-18

EXCHANGE RATE

AMOUNT

305.80 305.80 305.67 362.00 305.80 306.30 315.00 356.00 356.00 356.00 356.00 356.00 355.97 359.00 346.00 346.00 346.00 305.75 305.75 362.01 359.00 356.00 356.00 356.00 357.00 357.00 351.00 359.50 356.03 359.00 305.75 305.75 360.03 356.00 356.00 335.75 335.75 305.75 305.75 305.48 362.01 356.00 356.00 304.75 304.75 304.75 355.00 355.00 355.01 355.00 355.00 359.50 358.00 305.75 305.73 362.01 305.75 356.00 356.00 299.64 304.75 305.75

645,533.24 334,877.79 3,675.56 3,321.78 26,100.00 163,664.47 7,225.53 361,077.56 1,366.75 243,527.29 792.49 14,669.75 25.31 150,000.00 45,000.00 20,000.00 35,000.00 14,659.70 216,474.66 4,535.21 66,520.36 303,286.99 1,227.06 5,306.97 1,000,000.00 1,000,000.00 367,509.17 1,000,000.00 35.13 54,000.00 215,357.33 130,384.92 701.06 341,101.63 1,285.31 2,000,000.00 8,000,000.00 53,046.89 217,421.59 11,969.00 6,768.64 254,921.69 1,003.14 14,442.76 39,547.78 25,720.00 21,526.80 31,592.25 12,678.21 30,186.08 18,586.85 300,000.00 260,000.00 214,344.32 2,459.67 6,129.70 10,000.00 294,657.18 1,129.31 50,000.00 36,806.50 4,862.62 18,698,044.00 301,581.35

46

T H I S D AY ˾ ͯͷË&#x153; ͰͮͯͶ

T H I S D AY ˾ MONDAY MARCH 19, 2018

47

MONDAY MARCH 19, 2018 ˾ T H I S D AY

48

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Putin Set for Fourth Term with 74% of Vote Vladimir Putin won Russia’s presidential election on Sunday with almost 74 percent of the vote, AFP cited an official exit poll, as revealing, with the opposition reporting ballot stuffing and other cases of alleged fraud. Putin, who has ruled Russia for almost two decades, stood against seven other candidates, but his most vocal critic Alexei Navalny was barred from the ballot for legal reasons and the final outcome was never in doubt. The Kremlin was hoping for high voter numbers to give greater legitimacy to Putin’s historic fourth term as Russia faces increasing isolation on the world stage over a spy poisoning in Britain and a fresh round of US sanctions. About 107 million Russians were eligible to cast ballots and the central election commission said turnout was 60 percent, after the authorities used both the carrot and the stick to boost participation. Selfie competitions, giveaways,

food festivals and children’s entertainers were laid on at polling booths in a bid to create a festive atmosphere around the election. But employees of state and private companies reported coming under pressure to vote, while students were threatened with problems in their exams or even expulsion if they did not take part, according to the opposition-leaning Novaya Gazeta newspaper. The exit poll by state-owned pollster VTsIOM at 1,200 voting stations around Russia projected that Putin had won 73.9 percent of the vote, up from 64 percent six years ago. Communist candidate Pavel Grudinin performed better than expected, with 11.2 percent according to the exit poll, but the results of all other candidates including former reality TV host Ksenia Sobchak were forecast to be in single figures. Navalny -- who called on his supporters to boycott the “fake” vote and sent over 33,000

observers across the country to see how official turnout figures differed from those of monitors -- said there had been “unprecedented violations”. His lawyer Ivan Zhdanov said the actual national turnout at 1700 GMT, when polls closed in Moscow, was 55 percent, according to data collected by monitors. Navalny’s opposition movement and the nongovernmental election monitor Golos reported ballot stuffing, repeat voting and Putin supporters being bussed into polling stations en masse. One election commission worker in the republic of Dagestan, which traditionally registers extremely high official turnout figures, told AFP around 50 men entered the station where he was working and physically assaulted an observer before stuffing a ballot box. But the electoral commission dismissed most concerns, saying monitors sometimes misinterpret what they see.

Rebels in Syria’s Eastern Ghouta Discussing Ceasefire with UN – Statement The main rebel group in the southern pocket of Syria’s opposition-held eastern Ghouta told Reuters on Sunday it was negotiating with a United Nations delegation about a ceasefire, aid and the evacuation of urgent medical cases. “We are engaged in arranging serious negotiations to guarantee the safety and protection of civilians,” said Wael Alwan, the Istanbul-based

spokesman for Failaq alRahman, in a voice recording. “The most important points under negotiation are a ceasefire, ensuring aid for civilians and the exit of medical cases and injured people needing treatment outside Ghouta.” Alwan said the subject of “exit and evacuation” was “not on the table”. In a month-long assault, pro-Syrian government forces

have marched into much of eastern Ghouta, the last major insurgent bastion around Damascus. Troops have splintered Ghouta into three besieged zones in one of the bloodiest offensives of the seven-year war. A number of patients requiring urgent medical attention have been evacuated from the northern pocket and some aid has entered there. This has not yet happened in the southern pocket.

Syria War: Turkey-backed Forces Oust Kurds from Heart of Afrin Turkish-backed forces have taken full control of the centre of the Syrian-Kurdish city of Afrin, according to a BBC report. Fighters waved flags and tore down the statue of a legendary Kurdish figure after claiming the city centre on Sunday. The two-month Turkish-led operation aimed to rid the border region of a Kurdish militia that Turkey considers a terrorist group. Activists say 280 civilians have died, although this is denied by Ankara. Earlier, Turkish President

Recep Tayyip Erdogan announced that “units of the Free Syrian Army... took control of the centre of Afrin this morning”. Operations continued on Sunday to clear mines and remaining Kurdish resistance elsewhere in Afrin.”Most of the terrorists have already fled with tails between their legs,” the Turkish president said. “In the centre of Afrin, symbols of trust and stability are waving instead of rags of terrorists.” Pictures and video footage

emerged of forces tearing down a Kurdish statue with a bulldozer. The monument depicted the blacksmith Kawa, a legendary figure for Kurds. A statement on a Whatsapp group for the Kurdishdominated Syrian Democratic Forces called it the “first blatant violation of Kurdish people’s culture and history since the takeover of Afrin”. A Turkish armed forces Twitter page posted a video of troops displaying the nation’s flag in Afrin’s centre.

North Korean Diplomat Head to Finland ahead of Possible US Talks A senior North Korean diplomat left for Finland on Sunday for talks with former U.S. and South Korean officials, Reuters cited Yonhap News Agency as reporting, amid a series of diplomatic encounters ahead of a possible U.S.-North Korean summit. North Korea is pursuing its nuclear and missile programs in defiance of U.N. Security Council sanctions and has

made no secret of its plans to develop a missile capable of hitting the U.S. mainland. It defends the programs as a necessary deterrent against a possible U.S. invasion. The United States stations 28,500 troops in South Korea but denies any invasion plans. Tensions have eased in recent weeks, coinciding with North Korea’s participation in

the Winter Olympics held in the South last month.

CHANGE OF NAME I, formerly known and addressed as MISS ONA OFUNNE OKWESA now wish to be known and addressed as MRS. ONA OFUNNE SOFOWOTE. All former documents remain valid. General public, please take note.

T H I S D AY ˾ MONDAY MARCH 19, 2018

49

50

MONDAY MARCH 19, 2018 ˾ T H I S D AY

NEWS

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

NIBSS: Nigerian Lenders Lost Two Million Customers in Two Years Says anti-graft war forced civil servants, others to abandon their accounts Despite the Central Bank of Nigeria’s (CBN) effort to promote financial inclusion, Nigerian banks lost over two million customers between 2016 and 2017, with several customers abandoning their accounts due to the introduction of the Bank Verification Number (BVN) which would have linked them to illicit funds flows/transfers tied to corruption. According to statistics from the Nigeria Inter-Bank Settlement System (NIBSS), the number of active bank accounts also reduced by 1.5 million, dropping from 65

million to 63.5 million. The statistics obtained by the News Agency of Nigeria (NAN) from the NIBSS website yesterday, showed that the total number of bank customers dropped from 61 million in 2016 to 59 million in 2017. According to NIBSS, the banking sector, however, made great strides in linking customers’ account using the BVN. The report showed that linked BVN accounts grew from 26 million in 2016, to 41.3 million in 2017. According to a banking industry source, the reduction in banking

LUC: Police Warn Protesters Planning To Block Third Mainland Bridge

customers was not unconnected to the federal government’s fight against corruption. “When Buhari assumed office, many people abandoned their accounts, especially civil servants because of fear of investigation. “While some totally closed down their accounts, others opted for gradual withdrawal so as not to raise alarm,’’ the source said. The source, who works at one of the top five banks in the country, blamed the BVN for the low patronage of banking products, especially in the rural areas, where awareness was already very low. A bank customer, Mr. Olaitan Alagbe, said she closed some of

her accounts due to unnecessary and illegal charges by banks. “First of all, the interest rate is next to nothing, so there is little reason to keep your money at the bank when you can turn it over doing other businesses,” she said. Another customer, who preferred to remain anonymous, said he opened several accounts during the Ponzi scheme boom in the country, but was forced to abandon them after the schemes crashed in late 2016 and early 2017. However, a source at the CBN said that the reduction in the number of banking customers was caused mainly by the introduction of BVN.

“The reduction may not necessarily be a bad thing. For example, many people opened accounts using different variations of their names. “A person bearing Musa Salisu Mohammed, may have other accounts as Salisu Mohammed or Musa Salisu. “So with the introduction of BVN, such customers were forced to regularise their names, however, some opted to close down their accounts, which resulted in the reduction of active bank accounts and customers,’’ the source said. The CBN source was, however, optimistic that the financial inclusion strategy of the bank

would succeed in bringing in more people into the formal banking system. The financial inclusion strategy aims to ensure that major bulk of the money in the economy remains within the banking sector. A major challenge in the financial inclusion process is how to ensure that the poor rural dwellers are carried along considering the lack of financial sophistication among this segment. The CBN, money deposit banks, micro-finance banks and other stakeholders are currently implementing different policies designed to enhance financial inclusion in the country.

Say any attempt to breach peace will be resisted The Lagos State Police Command yesterday warned some protesters planning to block Third Mainland Bridge and other critical public infrastructure in the state over the new Land Use Charge (LUC) of the state government, saying any attempt to breach public peace would be met with stiff resistance. The police in a statement by the Public Relations Officer of the Command, Chike Oti, said up till now, those behind the planned protest were yet to apply for necessary permit, and that it was in their interest to follow the rule of law to the ventilate whatever grievances with government. According to the statement, Oti said: “The attention of Lagos State Police Command has been drawn to the news making the rounds that a group of persons under the sponsorship of some mischief makers, and who are masquerading as civil rights activists, intends to block the Third Mainland Bridge and occupy some critical public infrastructures in Lagos to protest against the increase in the Land Use Charge by the state government. “The command wishes to warn those concerned that any attempt by any individual or group of persons to cause a breach of the peace or infringe on the rights

of others to pursue their daily aspirations would be met with stiff resistance.” While recalling a recent protest by the Nigerian Bar Association (NBA), Ikeja branch, on the new LUC, the police spokesman said it was important for the necessary application to that effect to be made to prevent the protest from being hijacked by hoodlums which ultimately would threaten the peace of the state. “As it stands, the Commissioner of Police, Lagos State, has not received a single application from any group wishing to carry out protest in any part of the state. It is therefore advised that these individuals wanting to protest government decision should consult with the police as it was the case with the NBA before they carried out their very peaceful protest for which the police provided the needed security and ensured it was not hijacked by hoodlums. “Once again, the command wishes to reiterate that it would not allow any group of protesters to compromise the peace in Lagos State in whatever guise. Any group of persons that feels strongly against any policies of the government should explore the judiciary option instead of endangering the public peace,” Oti said.

Troops Arrest 12 Herdsmen in Benue Paul Obi in Abuja Soldiers under Operation Ayem Akpatuma have arrested 12 herdsmen in Benue State allegedly involved in destructive activities in the state. The arrest came on the heels of the decision by the military to ensure that all criminal gangs and herdsmen notorious for communal clashes are nabbed. According to the Director, Army Public Relations, Brig-Gen. Texas Chukwu, “Troops of 707 Special Forces Brigade presently taking part in the operation Ayem Akpatuma

have arrested another 12 herdsmen engaged in the destructive activities on the farmlands on March 17, 2018. “The suspects were arrested during the visit of the Presidential Assessment Team to Mbayer/Yandev and Kambee wards of Benue State. “On searching the general area, two motorcycles were recovered from the suspects. The 12 herdsmen were handed over to the police for further action. “Troops continue to maintain vigilance and dominant the general area with patrols,” Chukwu said.

MAN OF THE YEAR AWARD

L- R: Chairman, Century Energy Group, Mr. Ken Etete, wife of Nigerian NewsDirect’s Publisher, Mrs Annette Ibiyemi; Publisher/Editor-inChief, Prince Samuel Ibiyemi; Group Managing Director, Nigerian National Petroleum Corporation (NNPC) and NewsDirect Man of the Year, Dr. Maikanti Baru; and Chairman, NewsDirect Anniversary Committee, Mr. Aderemi Adekile, during the Man of the Year awards ceremony and seventh anniversary lecture in Lagos....weekend

Eminent Leaders to Speak on Nigeria’s Political Future NIM mobilises new politicians for 2019 Tobi Soniyi in Abuja As part of efforts to prepare a crop of new breed politicians for the 2019 general election, the Nigeria Intervention Movement, (NIM), yesterday said it would hold a grand political summit in Abuja on Wednesday. A statement by the spokesperson for the summit, Mallam Naseer Kura, said eminent leaders from across the six geo-political zones had already indicated their readiness to address the country at the summit. He gave the names of those who have already given their consent to address the summit as eminent lawyer, Prof. Ben Nwabueze (SAN); Nobel laureate, Prof. Wole Soyinka, Air Commodore Dan Suleiman (rtd), Colonel Abubarkar Umar Dangiwa, Mr. Donald Duke, Dr. Oby Ezekwesili, President of the Nigeria Labour Congress (NLC), Ayuba Wabba; Senator Shehu Sanni and Dr Olu Agunloye.

Kura said the organisers were still expecting responses from other leaders of thought like Mallam Adamu Ciroma, General Theophilus Danjuma (rtd), Dr. Paul Unongo, Chief Edwin Clark and a host of others. The summit spokesperson said the meeting was designed to bring together both old and new generation of political leaders in Nigeria, for the first time, towards finding an appropriate political road map for Nigeria’s troubled democracy, while facilitating a grand political coalition of fresh breed political leaders ahead of the 2019 elections. The statement read: “For the avoidance of doubt, these elders and leaders, given their experiences in the political affairs of the country as well as their past roles in the life of the country, at one point or the other, have been invited to address Nigeria’s past, in order

to provide a veritable political compass for emerging fresh breed leaders in navigating the future for the country.” The organiser said the summit promised to be a very fertile ground to breed national understanding and reconciliation. Kura said the summit was also conceived as a serious intervention to reset the future of Nigeria’s constitutional democracy which he said was skewed against the majority of Nigerians. “Many young emerging political leaders will be provided the rare opportunity to interact and share their aspirations with the invited political veterans at the national confab,” he added. According to him, some of the burning issues rocking the political fabric of the country that would be discussed at the summit include: inclusive democratic review of the constitution; referendum, equitable political structure

for Nigeria; popular democratic system of government suitable for the country; sovereignty of the Nigerian peoples’ people’s right to self determination; 2019 general election and the options for masses among others. The statement said the summit would be co-chaired by Mr. Olisa Agbakoba (SAN) and Dr Abduljalil Tafawa Balewa. The organisers of the summit would on Thursday hold an interactive session with journalists. Aspiring leaders invited to the summit include political aspirants like Mr. Fela Durotoye, Mr. Kingsley Moghalu, Dr Chris Nwaokobia, Mallam Adamu Dauda, Mr. Jaye Gaskia, Mr. Omoyele Sowore, Ms Toyosi Akerele, Mr. Abayomi Mighty, among other 35 young leaders who are also aspiring to lead the country in various capacities.

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Udoma Loses Brother The Minister of Budget and National Planning, Senator Udoma Udo Udoma, has confirmed the death of his immediate elder brother, Mr. Inam Udo Udoma. In a statement issued by his Special Adviser (Media),

Mr. Akpandem James, the minister said his elder sibling died on March 13, 2018, after a brief illness. He was aged 66. The late Inam Udoma was a University of Ibadan trained geologist and businessman.

He had several business interests and served on a number of boards, including that of Linkage Assurance Plc. Late Udoma was married with three children and a grandchild.

Shell Debunks Amnesty’s Allegations on Spills Management in Niger Delta Ejiofor Alike Shell Petroleum Development Company of Nigeria (SPDC) has denied allegations of environmental mismanagement in the Niger Delta levelled against it by Amnesty International, reiterating its commitment to swift response to oil spill incidents as much as access and security conditions permit teams to mobilise and deploy to spill sites to investigate, clean up and remediate such areas. SPDC’s General Manager, External Relations, Mr. Igo Weli, said in a statement yesterday that the company had also deployed technology and best practice to make it more difficult for unauthorised persons to break pipelines and steal crude oil from its facilities. “SPDC, in collaboration with government regulators, responds swiftly to spill incidents as quickly as it can and cleans up spills from its facilities regardless of the cause. We regularly test our emergency spill response procedures and capability to ensure staff and contractors can respond rapidly to an incident. However, response to spills, clean-up and remediation depend on access to the spill site and ultimately on the security of personnel and equipment while work is ongoing,” Weli said. He said Amnesty International’s allegations were false, without merit and failed to recognise the complex environment in which the

company operates where security, a sole prerogative of government, remains a major concern with persisting incidents of criminality, kidnapping, vandalism, threats from self-described militant groups. Weli said the transparency in the online reporting of spill incidents by SPDC in its areas of since 2011, which Amnesty International itself acknowledged, demonstrates its commitment to creating awareness and enhancing collaboration with key stakeholders on oil spill response and cleanup processes and deepening understanding of the complex and challenging operating environment. “SPDC reiterates its commitment to carrying out operations in line with best practice in a responsible and environment-friendly manner,” he added. He noted that over the years, SPDC, the operator of a joint venture between the governmentowned Nigerian National Petroleum Corporation (NNPC), SPDC, Total E&P Nigeria Ltd and the ENI subsidiary Nigerian Agip Oil Company Limited, sustained air and ground surveillance as well as anti-theft mechanisms on equipment and pipelines to mitigate third-party interference and ensure that spills are detected and responded to as quickly as possible. Weli added that the company conducts daily over-flights of its pipeline network to identify any new spill incidents or illegal

activities, and installed state-ofthe-art high definition camera to a specialised helicopter that greatly improves the surveillance of our assets. “SPDC also works diligently to develop new hardware barriers and technologies to detect and prevent oil theft, sabotage, criminality and other types of third party interference that cause environmental damage, participating in industrial organisations in Nigeria as well as internationally to share best practices. Regrettably, despite these and other efforts, criminals still target oil and gas infrastructure, causing spills, and the company is continuing to focus attention on the detrimental impact of these activities on people, the economy and environment in engagements with the media, government officials, diplomats and community people,” he added. Amnesty International had accused Shell and Eni of gross negligence and irresponsible approach to oil spills in the Niger Delta, thereby exacerbating environmental crisis in Nigeria’s oil-producing region. The global humanitarian organisation had also alleged that the two oil multinationals were publishing misleading information contested by communities in the Niger Delta, who stand to lose compensation if the companies attribute spills to third party activity.

Adamawa IDPs Appeal to NEMA to Step up Humanitarian Response Daji Sani in Yola

Finally, DSS Nabs Notorious Gunrunner Jonah Abbey, Others The Department of State Service (DSS) has arrested some gunrunners in some states around the country. The arrest came as security agencies across board intensify efforts to apprehend criminals in the country. According to Tony Opuiyo of the DSS, “In furtherance of tactical operations to stem activities of criminal elements across states of the federation, the DSS wishes to inform the public that it has, within the last 10 days in the month of March 2018, apprehended the following key members of kidnapping, gunrunning and banditry syndicates operating across the states of Plateau, Nasarawa, Taraba and Benue. “On March 13, 2018, about 1220 hours, at Wukari town in Wukari Local Government Area, Taraba State, service tactical team apprehended a notorious gunrunner, Jonah Abbey aka Jonah Idi alongside his driver, Agyo Saviour aka Dan-Wase. Abbey has been on the wanted list of the service for the last 10 years over arms and ammunition trade.

Late Udoma

“He has been servicing criminal groups in Bayelsa, Ebonyi, Rivers, Imo, Anambra, Plateau, Nasarawa, and Benue/Taraba axis, including the notorious criminal syndicate led by Terwase Akwaza aka Ghana in Benue State. “Recent intelligence indicated that Abbey moved arms and ammunition from Konduga in Borno State into Taraba State through his driver, Saviour. “It may be noted that the suspect has entrenched his criminal activities in different parts of the country and as earlier mentioned, has clients especially in Plateau, Ebonyi, Cross River, Enugu and Bayelsa States, among others. Indications are that he sources arms from the Republic of Cameroon and parts of the North-east of Nigeria. “A similar operation on March 15, 2018, about 0500 hours, at Chiwarna Hotel, Angwan Rogo by Bauchi road, Jos North Local Government Area, by the service tactical team led to the arrest of a high profile kidnap kingpin, Lawal Ibrahim (a.k.a Alhaji Awalu). The suspect was arrested alongside his

cohorts namely Ado Saleh and Bayero Adamu. “The syndicate was responsible for the killing of a personnel of the service in the state, Daanan Balgnan, on December 30, 2017 and was involved in other high profile kidnap incidents in Plateau and neighbouring states of Nasarawa, Kaduna and Bauchi.” Opuiyo added that “following the arrest, the sum of N1.5million was recovered from the suspects. “The money is part of the sum of N2million ransom, which the syndicate collected from Ayuba Gamale, a staff of Industrial Training Fund (ITF), whose two abducted family members were released on March 14, 2018. Other members of the syndicate are still being trailed by the service. “The arrest of these suspects is significant for two different but related reasons. In the first case, the arrested kidnap kingpin, Ibrahim, is adjudged the most dangerous in Plateau State, as he is known to be principally responsible for recent kidnap incidents in the state. “This arrest would be a great plus

The Internally Displaced Persons (IDPs) at the Malkohi official camp in Adamawa State have appealed to the Director General of the National Emergency Management Agency (NEMA), Mr. Mustapha Yunusa Maihaja, to step up his humanitarian response to them. Speaking with THISDAY at the weekend, one of the IDPs who simply identified himself as Usman, said NEMA used to give them food items when their food finished but now they waste time before food are given to them. He said the DG should note that it was not their wish to continue to live in the camps, adding that if only the federal government would clear the Boko Haram insurgency still bedeviling their areas, they would not be depending on the government for food. “This was the reason why we staged a protest recently due to lack of food. There is food in the store but they have to wait for directives from Abuja before they give us. “We have never experienced such but since the coming of the new boss everything has been in a shamble, even the ingredients to cook have been

reduced drastically,” he said. Usman spoke at the presentation of empowerment and educational materials for IDPs in the state by the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI). However, presenting the materials at a ceremony in Malkohi IDP camp, the Federal Commissioner of NCFRMI, Hajiya Sadiya Farouq, said the measure was part of the commission’s effort in fulfilling its humanitarian mandate which so far has been extended to affected persons in 25 states. The commissioner who was represented by Alhaji Lawal Hamidu, the Director of Refugees and Migrants Affairs of the commission, said the commission believes in the education and economic empowerment of the IDPs as a major tool to ameliorate their sufferings. “The provision of these materials today therefore signifies our attention to the continued well-being of our Persons of Concern (POC) in Nigeria. “We take our responsibilities very seriously and we will continue to provide opportunities that will preserve your dignity

and encourage you to become self-reliant members of the communities you have become a part of... “It is on the strength of this that NCFRMI will continue to provide opportunities for persons of concern so that they regain their dignity, while becoming independent and ultimately agents of their own durable solutions.” Also responding, the state Deputy Governor, Martins Babale, represented by the Executive Secretary of the Adamawa State Emergency Management Agency (ADSEMA), Mr Haruna Furo, lauded the measure and promised that the items which comprised grinding machines, drugs, school desk, bags and books, would be taken to all formal and informal camps in the state. In her remarks on behalf of beneficiaries, a female IDP, Mrs Rakiya Samuel, who got a grinding machine, thanked the commission for the support which she said would help them in a big way as they prepare to go back home and start a new life. Highlights of the occasion was the presentation of grinding machines to some IDPs, while school bags containing assorted books were distributed to primary and secondary school students attending school in the camp.

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Declare Herdsmen Attacks Terrorist, SERAP Urges UN A civil society organisation, Socio-Economic Rights and Accountability Project (SERAP), has sent an open letter to the United Nations Security Council and its members urging them to urgently hold a special session on Nigeria and to visit the country to press the authorities to end continuing killings and destruction of property by suspected herdsmen across Nigeria, particularly in the North-central of the country. The organisation also asked the council to treat the atrocities by herdsmen as terrorist acts in line with the UN Security Council resolution 2349 (2017), which addresses Boko Haram’s presence in the Lake Chad Basin and called on all states to combat all forms and manifestations of terrorism. SERAP noted that declaring attacks by herdsmen as terrorist acts would help make up the authorities to seriously address the threats posed by herdsmen and combat the crimes against humanity being committed against Nigerians. In the letter dated March 16, 2018 and signed by SERAP Deputy Director, Timothy Adewale, the organisation expressed, “serious concern that the government of President Muhammadu Buhari is failing to uphold its responsibility to protect the citizens from increasing atrocities by the herdsmen, which if not urgently addressed would pose serious threat to regional peace and security, and by extension, international peace and security. The Security Council must act now to protect Nigerians, including women and children,

if the council is not to be accused of failing the people of Nigeria.” The organisation said: “The attacks by herdsmen have uprooted families, destroyed communities’ socio-economic activities, and taken away their livelihoods and common heritage. These attacks undermine the very purposes and principles of the UN Charter. If not urgently combated, such attacks may rise to the level of threat to international peace and security. SERAP notes that the first ‘purpose’ listed for the UN is to maintain international peace and security, and to that end: to take effective collective measures for the prevention and removal of threats to the peace.” The letter read in part: “SERAP urges the Security Council and its members to publicly condemn these terrorist attacks, express concern about the protection of Nigerians and communities affected by the violations of international humanitarian and human rights law and press the authorities to put in place special mechanisms for bringing those suspected to be responsible to justice, and victims to receive redress, including adequate compensation and guarantee of non-repetition. “The Security Council and its members should reaffirm that terrorism of all forms and manifestations, such as the growing attacks by herdsmen in Nigeria, are criminal and unjustifiable regardless of their motivations. They should also recognize that security, development and human rights are interlinked and mutually reinforcing and are vital to an effective and comprehensive

Osinbajo, Amosun, Ogbeh, Adeosun, Others for Ogun Investors’ Forum 2018 More than 1,423 key players in the industrial, agricultural and technological sectors of the Nigerian economy will gather in Abeokuta, Ogun State, on Tuesday and Wednesday this week, for the fourth edition of the Ogun State Investors’ Forum 2018. Vice President Yemi Osinbajo is expected to declare the forum opened under the theme: ‘Consolidating The Gains Accelerating Growth.’ The event, which will take place at the June 12 Cultural Centre, Kuto, Abeokuta, would focus on agriculture, industry and technology. Convener of the forum, Governor Ibikunle Amosun, would play host to all the eminent guests, including former President of Mexico, Felipe Calderon, former Chief Business Officer, Google X, Mr. Mo Gawdat Salem, Minister of Agriculture and Rural Development, Chief Audu Ogbeh, Minister of Finance, Mrs. Kemi Adeosun and her counterpart in the Industry, Trade and Investment Ministry, Dr. Okechukwu Enelamah. Ogun State is one of West Africa’s fastest growing investment destinations. The state has attracted 304 industries in the last seven years. Out of this figure,148 had each invested between $2 million and $2 billion, while the remaining 156 had also invested $50 million each.

From a N730 million monthly internally generated revenue (IGR) the Amosun administration inherited on May 29, 2011, the figure has been grown to a monthly revenue of N7 billion. Also, in 2011, Ogun State was ranked 35th in terms of doing business, but the story later changed positively in February 2014 when the state was rated as number four in the country. It is the state with a vast economic hub with great potential for the Nigerian market that would be fully tapped through partnerships with investors and stakeholders. A World Bank report on Ease of Doing Business and another survey by the Manufacturers Association of Nigeria (MAN), showed that 75 per cent of Foreign Direct Investment (FDI) that came to Nigeria between 2016 and 2017 were domiciled in Ogun State. All these have been made possible because the administration of Governor Amosun had succeeded in creating conducive environment for business to thrive in addition to creating the necessary infrastructure. The government will also focus on the mining sector as it leverages on the value chain in the agricultural sector to leapfrog the development strides of the state while consolidating on the gains made since 2012.

approach to countering all forms of terrorism in Nigeria. “The Security Council and its members should adopt a resolution to: Characterise killings by herdsmen as terrorist acts and mobilise international support for Nigeria to combat these attacks, including for the authorities to adopt and implement measures to tackle the causes and consequences of these attacks and end all forms of terrorism in the country. “The resolution should also call on the UN Secretary-General to carry out a joint visit to Nigeria with the High Commissioner for Human Rights, Chairperson of the African Union Commission, and the African Union Peace and Security Council to investigate allegations of killings by herdsmen and to better understand the root causes of these killings and put pressure on the

Nigerian authorities to end them. “The resolution should express concern that unabated killings by herdsmen may ultimately contribute to undermining the ability of the Nigerian authorities to provide security, good governance, social and economic development in the country. It should affirm the international community’s solidarity and full support for the victims of killings by herdsmen and the communities affected, including those displaced because of the attacks. “The Security Council and its members should support collaboration with the African Union Peace and Security Council to combat the threats posed by herdsmen and enable both institutions to support stability and development in Nigeria. We believe that a UN Security

Council resolution would help to put pressure on the Nigerian authorities to take urgent and concrete measures to end the killings and secure the safety of all Nigerians. We urge you to act urgently as recommended, and we would be pleased to discuss these issues further. “SERAP notes that hundreds of people including women and children, have been killed apparently by herdsmen, and several more have been displaced and others forced to flee their homes and communities. The past weeks alone have seen some of the worst attacks against innocent citizens, including unlawful killings, destruction and pillage of property by herdsmen across the country. The attacks have been fuelled by impunity that has plagued the authorities’ response to the

problem. “According reports, at least seven people have been killed and property worth millions of naira destroyed following series of attacks on Takum and Ussa Local Government Areas of Taraba State by herdsmen. In Plateau State of Nigeria, a man identified as Joseph Alli, 23, was killed and beheaded by herdsmen during a fresh attack on Rotsu village, Miango District in Bassa Local Government Area of the state. “His killers reportedly ate the food that he was about to eat, burnt the kitchen and food barn in the house and left. Three houses around the area were also burnt. In Kogi State, at least 50 people have been killed, with several still missing following an attack on Oganenigwu in Dekina Local Government Area of the State by herdsmen.”

Rivers Group Urges IG to Stop Wike from Inaugurating Neighbourhood Safety Corps Senator Iroegbu in Abuja The Free Rivers Development Initiative (FRDI) has called on the Inspector General of Police (IG), Ibrahim Idris and other security agencies to as a matter of urgency stop Governor Nyesom Wike, from inaugurating a vigilante organisation known as the Neighbourhood Safety Corps in Rivers State. Wike had last week Thursday assented to the Rivers State Neigbourhood Safety Corps Bill 2018 which is meant to provide security across the state. But the group alleged that the real intention of the governor was to use the corps to intimidate his political enemies, adding that if the inauguration of the corps is not stopped they will rather set up their own and arm them to watch each other. The President of FRDI, Mr. Ngerebala Sampson, in a briefing in Abuja yesterday, alleged that about

200,000 cults and militia with arms, groups of all shades, exist in the state. Sampson warned that arming the youths under the guise of vigilante group was an attempt to create a private militia for political purpose. He also said it was evidentthatWike “hasnoregardsforcourtprocesses,when in the face of the pending suits before the Federal High Court, he signed the NeigbourhoodSafetyCorpsBillintolaw.” Flanked by Hon. Chidi Lloyd, Hon. Asita Hon. and Prince Tonye Princewill, he said the recent history of vigilante activities and their aftermath in Borno, Bayelsa, Abia, Anambra and Ondo States were experiences that should not be repeated. According to him, strong support by SenateMinorityLeader, SenatorGodswill Akpabio,tothemotionmovedbySenator DinoMelaye against the establishment of similar vigilante group in Kogi State in the red chambers gives credence to our position He said: “We are calling on the IG and other security agencies to take

steps and stop the governor from inaugurating the Rivers State Safety Corps. “Whereby our call is not heeded to, our reaction will be to also set up our own Neighbourhood Safety Corps to watch Wike’s Neighbourhood Safety Corps. We shall cloth them with uniforms and apply for arms for them through the police, then the two Neigbourhood Safety Corps will police each other. We cannot allow what happened before, during and after the 2015 general election in Rivers State to repeat itself in 2019. “You all know that before, during and after the 2015 general election, Rivers State experienced unprecedented number of political assassinations, where members of our party were gruesomely murdered in cold blood; their offence being that they were members of All Progressives Congress (APC). “Those killings continued until recently when the federal forces killed some of the death merchants

of Governor Wike. The rate of violence and killings that occurred in Rivers State during the period under review, led to Rivers State being described as a theater of war.” The group also said it was raising the alarm to the danger of the law when it was a bill before the state House of Assembly. “Rivers State has over 200,000 cults and militia with arms, groups of all shades, armingtheyouths under the guise of vigilante group is an attempt to create a private militia for political purpose. “Despite all these concerns, the governor was adamant and desirous of getting the bill passed into law as unconstitutional as it was. Two suits were filed at the Federal High Court in Port Harcourt challenging the bill and seeking an order of injunction restraining the governor from giving assent to the bill. The said suits were duly served on the governor, but governor ignored the suits and purportedly signed the bill into law.”

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IG Advocates Community Policing, Says Police Will Help End Insurgency Seriki Adinoyi inJos The Inspector General of Police (IG), Ibrahim Idris, has advocated community policing, observing that it will help to achieve very low crime profile within communities in the country. Idris added that it would be a perfect force to stem out hate speech, insurgency and other societal ills ravaging the country. He stated this at the weekend during the occasion of the

graduating ceremony of Advanced Detective Course held at the Police Staff College in Jos, the Plateau State capital. According to the IG, the police force management has re-launched the community policing scheme with massive campaigns on robust engagement of critical stakeholders and other non-state actors, to engender public support aimed at achieving very low crime profile in our communities. The IG added that “these

Obaseki Orders Arrest of Killers of Five Persons in Edo Adibe Emenyonu inBenin City Edo State Governor, Mr. Godwin Obaseki, has ordered the arrest of the bandits responsible for the death of three persons, two adults and a minor, in Ugboha, Esan South East and Odiguete Ovia North East Local Government Councils of the state at the weekend. The governor condemned the unwarranted killings by the bandits under the guise of herdsmen in contravention of the government directive that cattle should not move in the state at night. The governor who gave orders that the culprits must be apprehended within seven days, also directed the committee made

up of the police, officials of the State Security Service and other security agencies to work with members of all associations of cattle dealers and people who have information regarding the activities of the bandits to fish them out within the stipulated period. He condoled with the families of the victims and pledged his administration’s commitment to the safety and security of all Edo people and residents in the state as well as their property. Obaseki, therefore, appealed to members of the affected families and communities to keep the peace and be rest assured that the culprits would be apprehended and that justice would be served.

endeavours have also resulted in the establishment of Eminent Persons Forum (EPF), strengthening the police public relations committees at all the commands and the regular convocation of security summits in various locations.” The police boss said in spite of

the efforts by the police and other security agencies, serious crimes as insurgency, militancy, kidnapping, armed robbery, human trafficking, financial crimes, hate speeches have continued to constitute a major challenge to national security. Earlier, the Commandant of

the Police Staff College, Dorothy Gimba, said the college has equipped the graduating police officers with the contemporary knowledge to combat crimes, especially the current farmers/ herders conflicts and the proliferation of small and light weapons.

Gimba said the college authority also took cognisance of the fact that drugs, money laundering, and access to the internet, play major roles in aiding these crimes, adding that the successful prosecution of arrested suspects remains most potent weapon in tackling the menace.

Intels Donates N1.2bn Ultramodern Market to Onne Community The management of Nigeria’s oil and gas logistics giant, INTELS Nigeria Limited, has constructed and donated an ultramodern market to the Onne community in Rivers State. The General Manager of Intels Nigeria Limited, Mr. Silvano Bellinato, while speaking in Onne at the weekend, said the ultramodern market was built at the cost of N1.2 billion. He said the facility was built as part of the company’s corporate social responsibility (CSR). According to him, the company’s CSR focuses on critical areas of intervention including creation of employment, empowerment and provision of development projects for host communities. He said Intels adopts an integrated participatory approach to its CSR and community development projects.

“At INTELS, our CSR is tailored to create an environment in which the host communities and the company become fundamentally interdependent, where understanding is mutual and commitment to growth and development total,” he said. Bellinato added that the company also provides scholarships and employment to indigent and physically-challenged students, in addition to instituting various empowerment programmes for youth and women. He said no fewer than 66 physically-challenged persons have been granted scholarships by the company, adding that the scholarship scheme, which was set up in 2003, covers primary, secondary and tertiary education. Some of the beneficiaries enjoyed the scholarship from primary school through to tertiary

education, attaining professional qualifications in various fields of human endeavours. The beneficiaries also have the opportunity of working at Intels after completing their education if they so desire. The Intels General Manager also said that more than 700 women have been trained and empowered by the company through its internationally acclaimed Women Empowerment Programme Scheme Synergy (WEPSS). He noted that WEPSS was established in 2013 with the vision of empowering 5,000 community women over a 20-year period through training in fashion design and tailoring. He said to ensure successful implementation of the WEPSS initiative, Intels acquired and made available over 300 sewing

and specialised machines and built a 5,000-square metres garment manufacturing factory at the Federal Lighter Terminal (FLT), Onne, Rivers State, for the training. Bellinato said the company remains resolute in enhancing the lives of people in its area of operation, and remains committed to the development of communities in the area. Intels Nigeria Limited has won several awards and commendation, at both national and international levels, for itsexemplarycommunitydevelopment and empowerment programmes. Recently, the company was honoured by the Nigerian Shippers’ Council (NSC) – an agency of government under the Federal Ministry of Transportation – for its outstanding contribution to the development of its host communities.

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Olowonihi Tells Court How Magu Demoted Him Alex Enumah in Abuja A director in the Economic and Financial Crimes Commission (EFCC), Ayo Olowonihi, last Thursday told Justice Sanusi Kadu of the National Industrial Court in Abuja his ordeal in the hands of the acting Chairman of the commission, Mr. Ibrahim Magu Olowonihi had last December filed a suit against the EFCC over his demotion from grade level 17 to grade level 16. In the suit, he is asking the court to restore him to his position as a substantive position - Director of grade level 17 - and as commandant of the EFCC Academy. The complainant in the suit marked: NICN/ABJ/347/2017 wants the court to declare his demotion as well as the processes that led to it illegal and null and void. When the matter came up last Thursday, the complainant, led in evidence by his lawyer, Prof. J.O Amupitan (SAN), told the court that he would adopt his written statement made on oath on February 2, 2018, as evidence in the case. He gave a brief background of when he joined the commission, rose through the ranks and the issues that led to his suspension and subsequent demotion. The complainant said he was appointed as Head of Training on grade level 16 Step 1 in 2005 and later Commandant of the EFCC Academy in March, 28, 2012. Olowonihi disclosed further that after he sat and passed

the commission promotion examinations conducted by the Public Service Institute, he was promoted to the rank of Detective Commander on August 29, 2013. He however claimed that trouble started when the current acting Chairman of the commission, Ibrahim Magu, assumed leadership of the commission. Olowonihi said Magu had on November 19, 2015, summoned him into his office accusing him of being behind some online publications on the activities of the commission and against the person of the chairman (Magu). He said on Maguâ&#x20AC;&#x2122;s directive, he was interrogated, his official computer taken away, while he two phones (MTN and GLO) were seized, adding that his office, after being thoroughly searched by a team of detectives and policemen, was sealed up. The complainant said further that while interrogation was still on, Magu demoted him as Commandant and redeployed him from the EFCC Academy to acting his office. He said while the letter was purported to have been issued by the management of the commission, he was not aware of any management meeting where such decision was taken being a management staff. Olowonihi disclosed that he received a query on December 22, 2015, accusing him of breaching certain section of the commission Staff Regulation Handbook and replied on December 29, 2015, denying all the allegations, but

was surprised to receive that same day, a letter of indefinite suspension from work without pay with immediate effect. He said since his suspension over two years now, he was never invited to appear before any panel nor was there any communication until November 16, 2017, when he was served with a letter of reinstatement dated November 15, 2017, demoting him and forfeiting his salaries and emoluments. In the reinstatement letter, the complainant was accused of breach of confidence by the Senior Staff Promotions and Disciplinary Committee. He however claimed that he was never invited by the committee to defend himself of the said allegations or any other misconduct. He submitted that the committee has disciplinary powers over senior staff and not management staff of which he is one. In addition, Olowonihi claimed

that the commission Staff Regulation Handbook 2007 on which he was queried, demoted and asked to forfeit his salaries and entitlements and purported reinstatement has not been approved by the commission or its board. He claimed that the regulation handbook was invalid since there was no signature or date on it. While claiming that it is only the commission that has disciplinary powers over a management staff, he said the federal government was yet to constitute the commission/ board since 2015. Olowonihi said based on the above, he rejected the conditions of his reinstatement in a letter dated November 22, 2017. He therefore prayed the court to grant all the reliefs sought in his statement of claim. However, counsel to the defendant, Ibrahim Audu, during cross-examination, asked the complainant to confirm to the

court if he was still a director in the commission and commandant of the Academy. Responding, Olowonihi answered in the affirmative, claiming that he has already written to the commission rejecting his demotion as he was never found guilty of any offence. Responding also to question on the validity of the commission regulation handbook on which disciplinary action was taken against him, he insisted that the regulation was not valid because it has not been approved by the commission, adding that some staff of the commission who have been punished have been challenging the validity. Olowonihi said he played a major role in the drafting of the regulation, adding that the work of the drafting committee ended at the doorstep of the director of organisation who was to transmit it to the board for approval. He

however said he cannot tell if that was done. He also said by the mandate of the Academy, promotion examinations and other examinations are to be conducted by it, but the examinations were outsourced to the Public Service Institute and JAMB. Olowonihi claimed that the promotion examination he wrote was conducted in the Academy but not by the Academy. While admitting that as a management staff, he has used the regulation to discipline others, he however maintained that it does not make it a valid document. After cross-examining the complainant, Audu asked for an adjournment to enable the defendant call its witnesses. Subsequently, trial judge, Justice Sanusi Kadu, adjourned till April 30, 2018, for continuation of trial.

Audu/Faleke Group Condemns Herdsmen Killings in Kogi East The Audu/Faleke Political Organisation has condemned the recent killings of the people of Ogane-Nigu and Aloko in Dekina and Bassa Local Government Areas of Kogi State. A statement signed by the leader of the group, Hon James Abiodun Faleke, described the killings of over 25 people in the communities and destruction of houses as the height of wickedness. â&#x20AC;&#x153;The news came to us as a shock. That is wickedness of the

highest order. What can we ever equate with human lives? How did we come to this sorry pass as a people?,â&#x20AC;?the statement queried. According to the group, the challenge to quickly move to prevent further escalation of the crisis lies heavily on the state government as well as the security agencies. â&#x20AC;&#x153;We are calling on the state government led by Governor Yahaya Bello who gave the Fulani herdsmen a blank cheque to operate

in Kogi State in the first place to urgently move to draw the attention of the leadership of the herdsmen, the Miyetti Allah, to this wicked assault on the people of Kogi, while also rallying the various security organisations to action.â&#x20AC;? The statement called for sustained vigilance by the people of the state and advised that any suspicious movement or activities noticed should be promptly reported to security agencies. It called for support from well

meaning Nigerians and agencies for the displaced members of these communities in the areas of relief materials. â&#x20AC;&#x153;We hereby call for support for the displaced members of these communities. Public spirited individuals, government and international agencies are urged to come to the aid of these people. The communities also need support to be rebuilt so that the people can go back to their land and resume normal lives,â&#x20AC;? the statement declared.

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55

T H I S D AY ˾ MONDAY, MARCH 19, 2018

MONDAYSPORTS

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

POLAND VS NIGERIA

Super Eagles’ Camp Opens in Wroclaw Today TomTom unveiled as the Official Candy of the senior national team Duro Ikhazuagbe

Victor Moses… was in action for 120 minutes as Chelsea defeated Leicester City 2-1 to advanced to the semi final of the English FA Cup… last night

NPFL

Okpotu Sent off as Beaten Lobi Stays Top Despite going down 1-2 to Nasarawa United in Lafia yesterday, Lobi Stars maintained the top spot of the 13-week old Nigeria Professional Football League (NPFL) on 23 points. Kano Pillars with a game at hand is second on 20 points while Akwa United remains third on 19 points same as Yobe Desert Stars. Lobi got the opener when former MFM forward, Austine Ogunye, scored from the spot in the fifth minute after Mannir Ubale was fouled in the box. Hosts Nasarawa United however rallied back through Nojeem Olukokun’s 20th minute strike and Ikechukwu Nwani’s 32nd minute header sealed victory for them. Both teams were reduced to 10 men in the 53rd minute after Anthony Okpotu and Mohammed Manga were sent off for engaging

in a brawl. Third-placed Yobe Desert Stars also went down to a 2-1 defeat against struggling Sunshine Stars at the Akure Sports Complex. The visitors scored the curtain raiser through Babatunde Solomon in the 17th minute, while Bala Yahuza restored parity from the spot awarded after Dayo Ojo was impeded in the box. Sikiru Alimi got the winner from a sublime header a minute after the half hour mark. El-Kanemi Warriors boosted their survival hopes with a 1-0 win against FC IfeanyiUbah in Maiduguri. MATCH DAY 13 Katsina Utd 1-0 Heartland Nasarawa 2-1 Lobi Abia Warriors 2-0 Wikki El-Kanemi 1-0 FCIU Sunshine 2-1 Yobe Stars

FCT Schools Hold Maiden Combined Taekwondo Training Olawale Ajimotokan in Abuja Four public schools in the Federal Capital Territory (FCT) blazed the trail at the weekend when they held a joint training section on Taekwondo under the auspices of the Korean Cultural Centre with support from Korea Sports Promotion Foundation The beneficiaries were Maitama Model Primary School, LEA Wuse 3 Primary School, LEA Wuse 5 Zone 1 Primary School and Model Junior Primary School, Maitama. The first combined Taekwondo training was coordinated by instructors from the Korean Cultural Centre, led by coach Mohammed Abdulmalik, a four degree blacker and taekwondo international referee. They were introduced to more advanced trainings and competitive activities that include Olympic-style sparring and Pomsae (forms) as well as to acquaint students with upcoming

events. It was the first time the schools will come together for a combined training since the Korean Cultural Centre Nigeria in partnership with FCT Universal Basic Education Board in 2014 introduced Taekwondo in public schools in FCT. The programme is intended to expand and cover more schools within FCT. Abdulmalik, who boasted Nigeria will win a gold medal at Tokyo 2020 Olympics, said that they are considering holding a public school taekwondo tournament to enable the schools compete among one and others. “This programme was organised as most of them have not yet got the knowledge of how to use chest protector and are learning it. Taekwondo helps children build confidence, enhances discipline, sharpens mental alertness, enhances selfesteem, strengthens the mind and body and teaches self-defence.”

Super Eagles players invited for the international friendly between Nigeria and Poland scheduled for Friday March 23, 2018 are expected to troop into the Radisson Blu Hotel camp in Wroclaw this afternoon. Chelsea wing-back, Victor Moses, who was in action for 120 minutes in English FA Cup quarter final clash against Leicester City last night, and his compatriots Kelechi Iheanacho and Wilfred Ndidi, are expected to lead the list of 28 players to camp today. Friday’s international friendly against the Bialo-Czerwoni (White and Red), as the Polish senior team is known is scheduled to take place at the 43,000-capacity Stadium Wroclaw. The two Russia 2018 FIFA World Cup-bound teams are hoping to use the warm up game size up the opposition to expect at the Mundial. Four days later, Nigeria’s 28-man playing squad is to take on Serbia in another friendly at The Hive, London (home ground of Barnet FC and London Bees). Super Eagles Administrator, Dayo Enebi Achor confirmed yesterday that everything is on ground to make the team’s scheduled friendlies go ahead without hitches. Meanwhile, President of the Nigeria Football Federation (NFF), Amaju Pinnick has reiterated his belief that the Super Eagles can win the FIFA World Cup in Russia this summer. Speaking at the unveiling of TOMTOM as the Official Candy of the Super Eagles in Lagos at the weekend, the NFF president said: “There is nothing wrong in having a positive vision and pursuing it. Dreams do come true if you work hard enough and God is with you. “In 1994, we came very close to beating Italy, but the same Italians went ahead to play in the Final. At the same tournament, we defeated Bulgaria but they got

as far as the semi finals. “We have put together a plan that will make the Super Eagles arrive in Russia adequately prepared for the challenge.” For the next three years, TomTom will play the role of ‘Official Candy of the Super Eagles,’ following the contract agreement publicly presented by chieftains of the Nigeria Football Federation and Cadbury Nigeria PLC last Friday. The leading food beverage and confectioneries manufacturers have been on this route before, but Mike Itemuagbor, CEO of Pamodzi Sports Marketing which is the Sponsorship Agency, said that “this is much bigger than what they were doing previously.” Pinnick expressed the football body’s delight and excitement at regaining “a super brand” back into the fold, while pledging that the Federation would abide by every letter of the contract agreement. “The Nigeria Football Federation is pleased to be publicly presenting this worthwhile agreement with Cadbury Nigeria Plc. We appreciate what Cadbury

Nigeria Plc has done for Nigerian football over the years and we rejoice that they are back with us. “Candies are for champions. The Super Eagles remain a champion team and Cadbury Nigeria Plc is also a champion establishment. I strongly believe the company will enjoy the new experience even better than its previous romance with Nigerian Football.” Managing Director of Cadbury Nigeria Plc, Amir Shami confirmed that the agreement would be for three years and that far more than the rights’ fee, the company would be spending a lot of money in activation. LIST OF INVITED PLAYERS FOR THE INTERNATIONAL FRIENDLIES GOALKEEPERS: Francis Uzoho (Deportivo La Coruna, Spain); Ikechukwu Ezenwa (Enyimba FC); Daniel Akpeyi (Chippa United, South Africa) DEFENDERS: Abdullahi Shehu (Bursaspor FC, Turkey); Tyronne Ebuehi (Ado Den Haag, The

Netherlands); Olaoluwa Aina (Hull City, England); Elderson Echiejile (Cercle Brugge KSV, Belgium); Brian Idowu (Amkar Perm, Russia); Chidozie Awaziem (Nantes FC, France); William Ekong (Bursaspor FC, Turkey); Leon Balogun (FSV Mainz 05, Germany); Kenneth Omeruo (Kasimpasa FC, Turkey); Stephen Eze (Lokomotiv Plovdiv, Bulgaria). MIDFIELDERS: Mikel John Obi (Tianjin Teda, China); Ogenyi Onazi (Trabzonspor FC, Turkey); Wilfred Ndidi (Leicester City, England); Oghenekaro Etebo (Las Palmas, Spain); John Ogu (Hapoel Be’er Sheva, Israel); Uche Agbo (Standard Liege, Belgium); Joel Obi (Torino FC, Italy) FORWARDS: Ahmed Musa (CSKA Moscow, Russia); Kelechi Iheanacho (Leicester City, England); Moses Simon (KAA Gent, Belgium); Victor Moses (Chelsea FC, England); Odion Ighalo (Changchun Yatai, China); Alex Iwobi (Arsenal FC, England); Junior Ajayi (Al Ahly, Egypt); Gabriel Okechukwu (Akwa United).

L-R: Nigeria Football Federation (NFF)’s 2nd Vice President, Shehu Dikko; Director, Corporate and Government Affairs, West Africa, Cadbury, Bala Yesufu; Managing Director, West Africa, Cadbury, Amir Shamsi; President, NFF, Amaju Pinnick; Category Marketing Lead, West Africa, Cadbury, Chidinma Uwadiae and CEO, Pamodzi Sports Marketing , Mike Itemuagbor, at the unveiling of TOMTOM as the official candy of the Super Eagles in Lagos… at the weekend abiodun ajala

Super Eagles’ Opponent, Iceland, Confirms Ghana Friendly Nigeria’s 2018 World Cup Group D opponent Iceland has confirmed a friendly against Ghana’s Black Stars a few days before the start of the tournament in Russia. Iceland’s FA announced yesterday that the team will

face the West African nation in its final warm up match on June 7 – just nine days before the tournament opener against Argentina in Moscow. The Iceland v Ghana encounter is set to be played in the city of Laugardalsvellir

and will wrap up the European team’s preparations. “Our Men’s Team A will play against Ghana at Laugardalsvellir on June 7th,” a statement on the official website of the Icelandic Federation read. “The game will be the

last game of the team in preparation for World Cup 2018 in Russia.” Iceland will not doubt view the Ghana game as a ‘dress rehearsal’ for their second group stage match against Nigeria on June 22 in Volgograd.

CAF COMPETITIONS

Enyimba, Akwa Utd Survive as MFM, Plateau Utd Drop to Confed Play-off Femi Solaja with agency report It was a weekend of mixed fortunes for Nigerian clubs in CAF inter-club competitions. While the duo of Enyimba FC and Akwa United FC qualified into the group stage of the CAF Confederation Cup competition, Plateau United and MFM FC both failed in their bid to reach the money spinning group stage of the CAF Champions League. They have now dropped into play-offs to enable them fight for places in the group stage of the second-tier CAF Confederation Cup. MFM FC set the tone of mixed fortune on Friday with a scandalous 6-0 bashing by host, MC Algers of Algeria. The result

made the slim 2-1 home win in the first leg at the Agege Stadium irrelevant. On record, it was the same MC Alger that edged out Enugu Rangers 3-0 in 1976. They repeated same feat against Kwara United in 2007 with same score line. None was however as scandalous as the 6-0 walloping MFM FC received at the weekend. The other Nigerian representative in the competition, Plateau United also crashed out on aggregate after they could only manage a 1-0 home win over Etoile du Sahel of Tunisia in Kano yesterday, The Tunisian club went through on 4-3 aggregate having won the first game in Sousse 4-2. The result means that for the

second year running, no Nigerian club side has played in the group phase of the elite club competition in the continent. However, the duo of Enyimba FC and Akwa United gave Nigeria the ray of hope following their qualification into the next stage of the CAF Confederation Cup yesterday. Enyimba edged out Energie FC of Benin Republic 5-2 on aggregate after 3-2 second-leg first round tie at the U.J. Esuene Stadium. The former African club champions had won the first leg 2-0 away in Cotonou last week. Super Eagles goalkeeper, Ikechukwu Ezenwa, made his debut for Enyimba against the Beninoise following his switch

from FC IfeanyiUbah. Abdulrahman Bashir, who was later substituted injured, and Chinonso Okonkwo were the scorers of Enyimba’s goals. Enyimba got off to the perfect start as Bashir capitalised on an error by Energie keeper Sheyi Damilola and slotted into the net. The opening goal was to be Bashir’s only contribution as he went off injured and was replaced by Stephen Chukwude on six minutes. Akwa United on the other hand survived into the next stage in penalty shoot out. After cancelling out the 1-0 defeat it suffered to end regulation time on 1-1 aggregate, the Promise Keepers romp through 3-2 on penalties.

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Monday March 19, 2018

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Price: N250

MISSILE

Adamu to Senate Colleagues â&#x20AC;&#x153;While we are consumed with sabotaging the administration and stabbing one another in the back, we forget that in less than a year from now, we shall be required to seek the peopleâ&#x20AC;&#x2122;s revalidation of our mandate to sit in these hallowed chambers. What shall we tell them?â&#x20AC;? â&#x20AC;&#x201D; Senator Abdullahi Adamu (Nasarawa West) accusing the Senate leadership of a gang-up against President Muhammadu Buhari.

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FEMIFALANA GUEST COLUMNIST

Lawyers and the Anti-Corruption War

D

isappointed in lawyers because of their manipulation of the legal system during his lifetime, the Lord Jesus Christ did not spare them. Apart from accusing lawyers of hiding the key of knowledge, Jesus proceeded to curse them when he said, â&#x20AC;&#x153;woe to you lawyers also because you load people down with burden they can hardly carry, and you yourselves will not lift a finger to help themâ&#x20AC;?. See Luke 11:46. The famous English writer, William Shakespeare, was much more impatient with lawyers as recorded in the history play, Henry VI. There was a rebellion. Dick the butcher was a leading member of the rebellion. Convinced that lawyers would invoke the law to oppose and put down the rebellion Dick said: â&#x20AC;&#x153;The first thing we do, letâ&#x20AC;&#x2122;s kill all the lawyers.â&#x20AC;? Today, many Nigerians will join Dick in demanding that all lawyers be killed to prevent them from frustrating the war against corruption. As far as such people are concerned, lawyers have committed the unpardonable crime of aiding powerful criminal suspects to escape justice. Lawyers have been accused of resorting to technicalities to perpetrate injustice and colluding with judges to justify the rigging of elections and setting corrupt public officers free while jailing petty criminals. Although the general perception of lawyers and their role in the society may be erroneous, it cannot be denied that some Nigerian lawyers have contributed to the subversion of democracy and promotion of corruption in the country. It is, therefore, important to continuously examine the role of lawyers in the society. As far as Transparency International is concerned, corruption is the abuse of entrusted power for private gain. Corruption can be classified as grand, petty and political, depending on the amounts of money lost and the sector where it occurs. Although corruption is not defined by the Independent Corrupt Practices and Other Related Offences Commission Act (CAP C31) Laws of the Federation of Nigeria, 2004, Section 2 thereof states that it includes â&#x20AC;&#x153;bribery, fraud and other related offences.â&#x20AC;? The Economic and Financial Crimes Commission (EFCC) Act (CAP E1) Laws of the Federation of Nigeria, 2004 has comprehensively provided for economic and financial crimes. Accordingly, the Commission established by the law is charged with the responsibility to enforce the provisions of the Money Laundering Act, Advance Fee Fraud Act, Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act, Banks and Other Financial Institutions Act, Miscellaneous Offences Act and any other law or regulation relating to economic and financial crimes. Professor Osita Nnamani Osita once said, â&#x20AC;&#x153;the level of official corruption and moral degeneracy in our land is damming and agonizing. The ills are not only deep, but also pervasive, covering all institutions and private lives. The value system has been completely distorted. The State and its parastatals has become highly desired and prices, the control of which automatically leads to instant wealth. Any person who held government position and came out poor is generally regarded as foolish. Corruption has become a way of life in Nigeriaâ&#x20AC;?. In as much as the observations of the learned scholar may be correct it ought to be pointed out that the Nigerian people are not inherently corrupt. In other words, corruption has become pervasive due to the dependent capitalist system imposed on the country coupled with the reckless impunity of the ruling class in Nigeria.

Buhari In the bid to combat corruption, a number of laws have been enacted by the federal government. A cursory examination of the ant-graft laws in Nigeria reveals that there are sufficient laws to deal with the menace of corruption. Apart from the EFCC Act and the ICPC Act, the Code of Conduct Bureau and Tribunal Act etc., the Police is also vested with the responsibility of investigating corruption and related crimes. There is also the Public Accounts Implementation Tribunal Act Cap P 36 LFN 2004, which provides for the setting up of a Tribunal to recover from public officers, contractors or companies funds misappropriated or due to the Government of the Federation. The Tribunal is to be composed of a retired judge, representatives of the AGF, Auditor-General, Accountant-General and police officer not below the rank of a Commissioner of Police. Under the Public Property Special Provisions) Act LFN 2004, the President is empowered to set up a panel to recover public properties. The law has prescribed life imprisonment for any person convicted for unjust enrichment and 21 years jail term for false declaration of assets. So, there is enough legislation to deal with corrupt practices, drug trafficking, human trafficking, terrorism and other dangerous offences. It is the lack of political will on the part of the ruling class coupled with the manipulation of the legal system by powerful litigants and senior lawyers who have continued to frustrate the investigation and prosecution of corruption cases. No society can successfully challenge criminality where impunity is the order of the day. Since the courts have a penchant for granting bail in corruption cases the prosecution should stop opposing applications for the bail of criminal suspects. In other words, the prosecution and the defence counsel should agree on the conditions to be attached to bail to enable the defendants to stand trial. However, where the parties are unable to reach an agreement the trial judge should impose bail conditions that are commensurate with the gravity of the offence. The procedure will save the precious time wasted on arguing applications for bail, which are going to be granted, in any case. We have seen how the weakness of the criminal justice system has been exploited by lawyers to frustrate the trial of politically exposed persons and top corporate bodies. It is a development which has compelled the anti graft agencies to outsource justice to the detriment of our national integrity. Even though there are enough anti graft laws in the statute books there is no political will

to ensure the prosecution of corruption cases in a manner that the menace of corruption is reduced to the barest minimum. Fighting corruption with a view to eliminating it will require a challenge of the capitalist system whose morality is influenced by fraud and exploitation. Since the ruling class will not deliberately commit class suicide, the progressive members of the legal profession should forge a political alliance with the working class towards the creation of a new society, which will be committed to the actualisation of the fundamental objectives enshrined in Chapter II of the Constitution. Without a new political morality based on the security and welfare of the majority of citizens, corruption cannot be fought and defeated. To the extent that some funds have been recovered while a number of suspects have been charged to court the fight against corruption may be said to be on course. But the government has to do much more to promote accountability and transparency in government. Since the federal government has not made any appreciable progress in the recovery and repatriation of the nationâ&#x20AC;&#x2122;s looted wealth the Nigerian judiciary should not hesitate to grant Mareva injunctions in respect of the funds and other assets which have been criminally diverted by a number of unpatriotic public officers. While people charged with corrupt practices are entitled to individual defence counsel, the NBA ought to collaborate with the federal government in the fight against corruption including the repatriation of the nationâ&#x20AC;&#x2122;s resources. In exercise of my right under the Freedom of Freedom of Information Act, I have had cause to request the Nigerian National Petroleum Corporation (NNPC) to provide information on fuel importation. As it has no answer to the questions, which I raised, the NNPC claimed that it is â&#x20AC;&#x153;not a public institution.â&#x20AC;? In justifying the rejection of our request for information with respect to the shameful importation of fuel by Nigeria, a leading oil producing nation, the NNPC Counsel claimed that the Corporation is not bound by the provisions of the Freedom of Information Act. With respect, the misleading submission of the Counsel does not seem to historically represent the position of the Management of the NNPC. It is on record that the NNPC Management had once dissociated the Corporation from a similar view credited to the NNPC Legal Department. During the induction ceremony for newly recruited Graduate Trainees held at the NNPC Towers in Abuja on August 10, 2012, the then NNPC Group Managing Director, Mr. Andrew Yakubu, recalled that following the enactment of the Freedom of Information Act the NNPC Management had swiftly established a Task Force with the goal of examining the law and advising management on how best to comply with its provisions. In fact, Mr. Yakubu said, â&#x20AC;&#x153;long before the Freedom of Information Act came into force, the NNPC has been maintaining an open door policy which sees it volunteering information to its various policies through press releases, advertorials and presentations at different forums including hearings at the National Assembly.â&#x20AC;? It was on the spirit of ensuring that its activities and operations live up to public scrutiny that NNPC disregarded the legal opinion of the Counsel when it recently informed a bewildered nation that the corporation had spent $5.8 billion for the importation of fuel in just two months of this year and that N744m is incurred daily as fuel

subsidy. The decision to give details of the cost of importation of fuel has exposed the claim of the Counsel that such matters are â&#x20AC;&#x153;trade secretsâ&#x20AC;? which cannot be disclosed â&#x20AC;&#x153;in the public interestâ&#x20AC;? under the Freedom of Information Act. Since the Board and Management of the NNPC have not had cause to renounce the commitment of the Corporation to comply with the provisions of the Freedom of Information Act it ought to make it clear to the Counsel that the days of opacity in the running NNPC are over. More so, President Mohammadu Buhari stated during the inauguration of the current NNPC board on November 18, 2016 a follows: â&#x20AC;&#x153;Since the arrival of this administration, there has been an improvement in transparency through publishing monthly operational and financial report of the Corporation. â&#x20AC;&#x153; With respect to the erroneous submission that the NNPC is not a public institution it is embarrassing that the Counsel did not advert her mind to Section 2(7) of the Freedom of Information Act which has defined public institutions to mean â&#x20AC;&#x153;all authorities whether executive, legislative or judicial agencies, ministries and extra-ministerial departments of government, together with all corporations established by law and all companies in which government has a controlling interest, and private companies utilizing public funds, providing public services or performing public functions.â&#x20AC;? Contrary to the untenable contention of the Counsel, the NNPC is a public institution as the federal government has controlling interest in it and it is utilizing public funds to provide public services. Indeed, because the NNPC is a public institution its budget is appropriated by the National Assembly while its accounts are audited by auditors appointed by the Auditor- General of the Federation in line with section 85 of the Constitution. Furthermore, in exercise of its oversight functions the National Assembly regularly conducts investigation into allegations of corrupt practices against the corporation. Of course, the NNPC Board reports to President Buhari in his capacity as the head of the federal government while the NNPC Management reports to him as the Minister of the petroleum resources. It is, therefore, preposterous to say that the corporation is not a public institution. Members of the legal profession are increasingly being blamed by the Nigerian people because of the strong perception that lawyers and judges are using the law to suppress the quest for a better society. This is a very dangerous perception that must be addressed timely. Lawyers have a duty to the nation and the society to see to it that corruption and impunity are fought diligently and uncompromisingly. As defenders of human rights and the rule of law lawyers should be committed to the eradication of corrupt practices and impunity. Nigerians on their part must change their perception and disposition to public office. Citizens have a duty to continually hold public officers accountable for their actions. The passage of the Freedom of Information Act into law has given members of the public the weapon to ask legitimate questions on the management of the affairs and resources of the country. The civil society movement and the human rights community should redouble their efforts in the struggle to free our nation of corruption. The battle to save our nation from corruption has to be collectively fought and decisively won. r 'BMBOB B 4FOJPS "EWPDBUF PG /JHFSJB BOE IVNBO SJHIUT MBXZFS XSJUFT GSPN -BHPT

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