Monday 9th April 2018

NNPC Says Audited Accounts Up to Date, Fails to Make Them Public Corporation’s spokesman: We’ll consider making them public Work to commence soon on $2.8bn AKK gas pipeline, project comes under fire Chineme Okafor in Abuja The Nigerian National Petroleum Corporation

(NNPC) announced yesterday that it has completed the outstanding audit on its financial statements from

the years 2011 to 2016, but it failed to make them public.

The audit backlog, the state-run oil firm said in

statement by its spokesman Ndu Ughamadu, has since been formally approved by the NNPC board in line with

extant laws governing the operations of the national oil company.

But a visit to the

corporation’s website showed that the audited accounts for Continued on page 9

President Leaves for London Today, To Hold Talks With Theresa May… Page 50 Monday 9 April, 2018 Vol 23. No 8390. Price: N250

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We’re Backing Buhari to Stop Hijackers, Says Amosun Ahead of Today’s NEC Says Oyegun should not seek re-election APC in make or break meeting Olawale Olaleye Ahead of today’s National Executive Committee (NEC)

meeting of the All Progressives Congress (APC), which promises to be tension-soaked, the Ogun State governor,

Senator Ibikunle Amosun has explained that the reason party members, who initially opted for the tenure elongation but

had turned around to support President Muhammadu Buhari’s proposal for a National Convention, was

to prevent some “leaders” of the party with sinister plans from hijacking the APC for “selfish and personal abuse”.

Amosun, who spoke exclusively to THISDAY, said Continued on page 10

APC: The Die is Cast as Three Groups Do Battle Ijeoma Nwogwugwu Whoever thought that the ruling All Progressives Congress (APC), exactly five years after its formation five years ago primarily to wrest power from the Peoples Democratic Party (PDP), would find itself in almost similar circumstances as the main

N E W S A N A LY S I S opposition party, which at the height of its reign boasted that it would rule Nigeria for 60 years. Today, the APC is facing an existential threat, with its governors as dramatis personae, over the divisions arising from the approval granted by the National Executive Committee

(NEC) of the APC to extend the tenure of its elected and appointed officials at all levels.

At heart of the issue threatening to snowball into a full-blown crisis, if not well managed at today’s NEC meeting, is the chairmanship post currently occupied by Continued on page 9

WHO STANDS WHERE/WHAT THEY STAND FOR

El-Rufai-Amaechi Group

Amosun Group

Members of the group are: Governors Nasir el-Rufai (Kaduna) Yahaya Bello (Kogi) Mohammed Abdullahi Abubakar (Bauchi) Rotimi Akeredolu (Ondo) Samuel Ortom (Benue) Ministers Rotimi Amaechi Babatunde Fashola Adebayo Shittu Kayode Fayemi

· Governors Ibikunle Amosun (Ogun) · Abdullahi Ganduje (Kano) · Simon Lalong (Plateau) Abdulaziz Yari (Zamfara) · Badaru Abubakar (Jigawa) · Bello Masari (Katsina) · Rochas Okorocha (Imo) · Abiola Ajimobi (Oyo)

· · · · · · · · ·

Members of the group are:

The group is also in total support of Buhari seeking The group is in total support a second term in office. It of President Muhammadu was previously pro-tenure Buhari making a run for the elongation but changed its presidency in 2019 but is stance once the president pro-tenure elongation. The rejected the proposal for group wants John Odigieexecutives of the party. They Oyegun to continue as party are now pro-convention

Tinubu Group

Members of the group are:

· Chief Bola Tinubu · Governors Akinwunmi Ambode (Lagos) · Rauf Aregbesola (Osun) · Excos of both states that the Lagos and Osun governors control

The group is in total support of Buhari getting re-elected in 2019, but the group opposed the tenure elongation from the outset.

They have not hidden their readiness to go to court should the APC extend the tenure of the executives.

Continued on page 9

Osun State Governor, Rauf Aregbesola (right), exchanging pleasantries with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, when the governor visited the state-run oil firm in Abuja… weekend

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PAGE NINE APC: THE DIE IS CAST AS THREE GROUPS DO BATTLE Chief John Odigie-Oyegun.

Other executives of the party affected by the push for and against the tenure extension are merely collateral damage.

The push for Oyegun to stay on or step down at the expiration of his tenure on June 13, has seen the APC split into three groups with the all-influential and powerful governors, who control the party’s structures at the grassroots, leading the charge.

While one group led by the tag team of Governor Nasir el-Rufai of Kaduna State and transportation minister, Chibuike Amaechi, remain die-hard loyalists of President Muhammadu Buhari and will break an arm and leg to see him re-contesting and winning the presidential election in 2019, another group ardently loyal to the president is the one now led

by Governor Ibikunle Amosun of Ogun State. A third group is one also very much in support of the president that is led by the party’s National Leader, Chief Bola Ahmed Tinubu, but where it deviates from the first two groups is that its loyalty is conditional. Other than the common thread – Muhammadu Buhari – that binds all three groups, they all have different reasons for backing the president’s second term bid in 2019, should he decide to run.

The president, a stickler for the rule of law and due process, was convinced by Tinubu’s legal counsel with the support of Vice-President Yemi Osinbajo, a professor of law and Senior Advocate of Nigeria (SAN), and the Attorney General of the Federation, Abubakar Malami (SAN), to jettison the 12 months extension granted

to Oyegun and other executive committee members of the APC at the national, state and local government levels. At the March NEC meeting of the party, Buhari who was part and parcel of the approval of the tenure elongation for the executives a month earlier, shocked members by his sudden volte face.

His argument was that the extension was in breach of the Nigerian and APC constitutions, which could be challenged in a court of law and mar the party’s chances in the 2019 elections. He argued at the March meeting that should any candidate emerge from the APC primaries, his or her position could be challenged because the primaries were superintended by executives of the party without locus standi to conduct the primaries. The prospects were frightening for Buhari, who consequently counselled the party to prepare for its congresses and a National Convention to elect new executives for the party.

Unsurprisingly, Buhari’s position got a loud cheer from Tinubu, who had prepared the Lagos APC to head to the law courts should the party go ahead with the tenure extension for its executives. For Tinubu, he wanted to see the back of Oyegun who, ironically, he had helped to install in 2014 as the APC national chairman.

But despite his role in elevating Oyegun, he was incandescent when the APC chair refused to support his preferred candidates in the Kogi and Ondo governorship elections.

But Tinubu, an acclaimed political strategist, with the memory of an elephant (not a lion), bid his time.

He didn’t have to wait too

long. It was only a matter of months before he knew that Buhari’s loyalists in the presidency would come look for him. For them, they were keen of ensuring that the election map, which catapulted the APC to victory in 2015, remained unchanged in 2019. Tinubu, after all, was a key actor and to some extent instrumental to delivering the South-west in 2015, which Buhari in three previous presidential contests, had never won. Accordingly, the president was more than eager to make Tinubu the head of a one-man riot squad to reconcile factions of the APC nationwide.

It is doubtful if the so-called committee has visited any state beyond Lagos and Abuja.

Seizing on his new position, nonetheless, Tinubu within days of the announcement making him the chairman of the APC reconciliation committee went for the jugular, accusing Oyegun of sabotaging his work as head of the committee. Although Oyegun more or less ignored Tinubu’s rant, it was clear to all but the blind that the chairman of the APC was now in the eye of the tiger. Tinubu was bent on ousting Oyegun and installing a new chairman who, according to sources, will be more malleable to the former’s demands preparatory to a 2023 run for the presidency.

But anyone with an understanding of the dynamics of South-west politics would know that the pedestal Tinubu once stood on in terms of delivering the zone en bloc to a presidential candidate, had become folklore, hence the challenge by Governors Amosun and Rotimi Akeredolu of Ogun and Ondo States, respectively. Both governors

make up another group, which was once wholly in support of the tenure elongation for Oyegun and others but are now pro-convention advocates just because the president had a change of mind. Owing to their blind loyalty to Buhari, they have set out to upend Tinubu’s seeming hegemony in the South-west and show the world that they dictate the tune in their respective states in the zone, not the national leader of the APC. This group, however, is pushing for Oyegun not to re-contest the chairmanship so that they can install a new exco for the APC. Their current preference is for Edo State governor, Adam Oshiomhole but may consider other contenders such as former Senate President, Ken Nnamani and Third Republic Cross River State governor Mr. Clement Ebri.

Accordingly, the Amosun group has in the last few days been working been round the clock to checkmate Tinubu.

A third group is that led by Tinubu that cannot be ignored, as even though his ability to deliver other South-west states to the APC can be challenged, his stranglehold over Lagos where PDP recently termed him the “Governor Emeritus” is intact.

Lagos, a swing state and under

the control of Tinubu, has the capacity to offset whatever the most populated state in the northern Nigeria, Kano, where Buhari is deemed a demigod, can churn up in terms of votes.

It is for this reason the president has so far kowtowed to Tinubu’s demands. But the question is for how long.

The third group led by el-Rufai and Amaechi has been quiet lately but remains a formidable force within the APC. For this group, it is tenure elongation all the way even though its members are rabid Buhari loyalists. The main reason this group wants Oyegun to continue for another 12 months is premised on the argument that the approval granted by NEC for the tenure extension was based on Article 13 of the APC constitution which empowers the NEC of the party to perform its functions. This group also likes Oyegun because most of the governors that make up the group are chief executives of states where the APC is factionilised. Oyegun, so far, has supported their functions.

The fear by these governors is that if Oyegun is ousted, they will cease to have the support of the centre. Another secondary reason propounded by the elRufai-Amaechi group is that the conduct of congresses and

a convention in the run up to the elections could throw up more problems for the APC arising from divisions at the state, local council and ward levels, which they have argued should be averted.

Evidently, as the ruling party prepares to hold a make or break NEC meeting today that will steer the ship of the party towards 2019, what will be uppermost among its critical stakeholders and governors is which group will have its day. Although the el-Rufai-Amaechi group combined with the Amosun group to stalemate Buhari’s meeting with the governors last Wednesday, what would be uppermost on the minds of members of the party at today’s NEC is what concessions would have to be made to maintain a united party front.

A way out, said sources, is for governors such as Aminu Tambuwal of Sokoto and Abdulfatah Ahmed of Kwara State as well as other undecided APC members to break the ice and save the day. But should the fence-warmers decide to remain undecided, APC’s march towards 2019 would remain uncertain, a situation which the opposition PDP will be more than eager to capitalise on to its advantage.

WHO STANDS WHERE/WHAT THEY STAND FOR

El-Rufai-Amaechi Group

Amosun Group

chairman They intend to back Oyegun at the National Convention of the APC should he re-contest the chairmanship post of the APC.

advocates but are trying to convince Oyegun not to re-contest the chairmanship post at the convention of the APC. Their preference is to see Adams Oshiomhole emerge the new chairman of the party at the convention.

Tinubu Group

They also want Oyegun out of the way and would support any aspirant for the chairmanship post that is malleable.

NNPC SAYS AUDITED ACCOUNTS UP TO DATE, FAILS TO MAKE THEM PUBLIC the six years in question had not been uploaded.

The statement was also silent on if the corporation’s accounts and auditor’s reports had been presented to the Federal Executive Council (FEC) for approval in compliance with the NNPC establishment Act. The group’s audited financial statement for 2017 is also expected to be ready not later than June 30, 2018, as stipulated by the Act. NNPC has been publishing its unaudited financial report, which THISDAY in 2016 challenged the former Group Managing Director of NNPC and Minister of State for Petroleum Resources Dr. Ibe Kachikwu, to audit and make public.

When contacted on the issue, Ughamadu said the NNPC Act does not require the corporation to make its audited accounts public but it will consider doing so and publishing them on the NNPC website.

Providing details, the NNPC spokesman said the Chief Financial Office/Group Executive Director, Finance & Accounts of the corporation, Isiaka AbdulRazaq, said the delivery of the audited financial statements would help foster better relations with stakeholders and further promote transparency and accountability in the corporation.

AbdulRazaq said the drive to achieve the clean slate dated back to August 2015, when the current management of the finance & accounts directorate took over the mantle of

leadership and inherited 65 unaudited financial statements for NNPC group corporate and its subsidiaries, covering 2011-2014.

“There were, undoubtedly, challenges that led to the backlog which may have been beyond the control of the previous managements.

However, the important factor was not to look to the past.

“We saw an opportunity to address the problem and resolved to clear the arrears in the shortest possible time,” the CFO said.

Moving swiftly, he said the corporation’s management constituted a Project Steering Committee (PSC) under the chairmanship of AbdulRazaq, which met on a weekly basis with the auditors and all relevant stakeholders to identify and isolate key challenges and give them priority attention.

“With this approach, management achieved the first step of concluding the audit of the 2011-2012 financial positions and presented same to the board in 2016 and in recognition of that modest achievement, the NNPC board further mandated management to clear the remaining outstanding reports for the years 2013-2016 and the result today is the delivery and board approval of the audited group financial statements as at 31 December 2016,” he said.

Also, Ughamadu said the Managing Director of the Nigerian Pipeline and Storage Company (NPSC) Mr. Luke Anele has revealed plans by the company which was created out of the old Pipelines

and Products Marketing Company (PPMC), to embark on a comprehensive audit of over 5000km of petroleum products and crude oil pipelines under its watch.

According to Anele, the project which has already been approved by NNPC’s management, is to be executed by the National Engineering and Technical Company (NETCO), an upstream subsidiary of the NNPC Group.

“It covers the conduct of integrity tests on crude pipelines, the products pipelines and our depots, with a special emphasis on refinery attached depots and refinery evacuation lines,” Anele said.

The NPSC MD said the outcome of the project would guide the company in arriving at informed decisions and enable appropriate strategies in the planned private-public partnership arrangement for the pipelines.

NNPC also said yesterday that work on its 40 inch, 614km Ajaokuta-KadunaKano (AKK) gas pipeline and stations would commence in a matter of weeks.

It said the project would cost $2.8 billion and will be financed through a contractorfinancing model.

However, an energy expert, Mr. Dan Kunle, has described the gas pipeline project as valueless to the Nigerian economy.

A statement by Ughamadu said work on the project would start soon, following NNPC’s execution of the contract agreements for the engineering, procurement,

construction, commissioning, and financing of Lots 1-3 of the project.

He explained that measures had been put in place for the commencement of the project which NNPC described as the single biggest gas pipeline project in the history of Nigeria’s oil and gas industry.

NNPC noted that the project would be completed in 24 months, adding that the pipeline will enable gas supply and connectivity between the eastern, western and northern parts of Nigeria, which is currently not in existence.

It also stated that it would facilitate gas supply and utilisation to key commercial centres in northern Nigeria and ensure that power generation and industrial growth are achieved there.

NNPC provided further details on the contract agreement it signed with the consortia involving indigenous and Chinese entities under a 100 per cent contractorfinancing model.

It said Lot 1 with a total length of 200km stretching from Ajaokuta to Abuja was awarded to the OilServe/ Oando Consortium at a contract value of $855 million.

Lot 2, it said, has not been awarded yet but would cover a stretch of 193km from Abuja to Kaduna and will be built at a cost of $835 million.

Lot 3 running from Kaduna to Kano, covering 221km, was awarded to the Brentex/China Petroleum Pipeline Bureau (CPP) Consortium and would cost $1.2 billion.

NNPC explained that FEC approved the project

on December 13, 2017.

But in his appraisal of the project, Kunle told THISDAY that based on current scenario in the global gas market, the project was uneconomical and would leave Nigeria with more sovereign debts.

He pointed out that most industries like gas-powered electricity generation plants in the southern part of the country where gas is readily produced do not have enough gas for their operations, and as such pushing gas up north through the pipeline would be uneconomical.

Kunle also called on the corporation to open up on the terms of the contractorfinancing agreements that it had signed with the different consortia.

He said he wanted NNPC to show Nigerians the details of the construction agreements it signed with them, adding that Nigeria could end up with a huge debt if it failed to meet the sovereign guarantees required under the agreements.

“This project has become a bad project. We missed it a long time ago, and the only way to justify gas pipeline from Ajaokuta to the upper north of Nigeria is if you have excess gas in the southern gas province that you don’t know what to do with it.

“As of today, all the power plants in the south don’t get adequate gas supply.

The two power plants in Ajaokuta (Geregu I & II) where the line will take off from are not getting enough gas to operate. Even Dangote Cement (at Obajana) does not get enough gas,” he stated.

“This project is already belated. Let us even look at the past: the Kaduna refinery which was built in the past has not been profitable. Its CAPEX, that is the money used to build it, has not been recovered.

“So, some of this projects that we think we must politically induce to our zones are not economically justifiable anymore because economic theory has proved that heavy industries must be located where you have a comparative and competitive advantage of raw materials and all other supporting enablers,” Kunle added.

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John Boyega: I Want to Nurture Talents Who Will Be Nigerian Ambassadors Eromosele Abiodun British-Nigerian actor John Boyega has said that he is in Nigeria to give back and nurture talents that will end up as ambassadors for the country.

Speaking exclusively to THISDAY’s sister broadcast network, Arise News Chanel, Boyega said his parents always told him to go back to Nigeria when he is fully established.

While stressing that Nigerian young actors have the energy and work ethic to succeed in the movie industry globally, Boyega who appeared on the Morning Programme on the TV network, called on the Nigerian government to provide the platform to nurture talents, adding that he was lucky to have grown up in a country where the platform is available.

According to him, “I have been here a good couple of times; I have been coming since 2001. It’s the right time, I was raised by my parents and they told me that ‘when you are of age and you have established yourself enough to transfer your skills to others you have to go back home’. “So, I am just doing what we have been told to do. I am enjoying it, it seems like there are more people with the same mentality.�

On what plans he has in the future for the local industry, he said: “This trip was for intel, to be educated about the infrastructure here, what is in place, what is not in place and what requires to be done, what it takes for a major studio in Hollywood to come down here and collaborate with the best from Nigeria and work on stories that will be filmed here. “This is a great opportunity because entertainment actually attracts a huge variety of jobs. A big film set needs a lawyer, sewers, and caterers. So this is a structure for the country and something that should be embraced. “Before that, is story and so myself and my producing partner are going up to the Caribbean for isolation to develop, because it can’t just be one story that comes, we have to develop as many stories as we can. “My dream is to star in it alongside a Nollywood actress known or unknown.

Boyega That will be a fantastic dream.�

Boyega, who starred in the blockbuster Star Wars franchises, ‘The Force Awakens’ and ‘The Last Jedi,’ arrived the country last week and announced that he was seeking to make a low budget Nollywood movie that would cost N9 billion.

Speaking on his talent hunt in Nigeria, he said there was the need for more training for young actors, adding that Nigerians has the energy and the work ethic to succeed. “The fundamental thing that we have been doing is that before we do any project in Nigeria is to see what is on the ground. We should stay away from the mentality that Hollywood can teach you everything. “There is the energy and the work ethic here that can still be transformed. That is where we can come in and help the process. Actors have to give more, you can’t have this lack of rehearsals for project and there is a quick turnaround before we bring out a project. It affects quality, sound and the process of storytelling. “As you know, for a global movie to have local box office and international box office, you had to have appeal to the world and I think Nigeria is ready for the world, not just for us watching ourselves or having conversations with each other, we must have stories that has a same historical value like a country like China or the United States of America.

“Why shouldn’t we go for excellence?

I think that with training, especially for the young actors, we can go far. There is a style for film that is not too over the top, there is a style that requires you to do the work internally. “The camera is so intimate and it represents the audience and sees everything that goes on in your eyes. Sometimes when you are able to convey emotion accurately, the audience sees it. “That toppled with a fantastic story based at home, shot at home, will be the ultimate dream. Training and shadowing programming for important things like cinematography, for drama, is something that we could also look at,� he said.

He noted that for young Nigerians that live here, the country needs to do something for them, there needs to be a structure in place. “Talent is God given, it grows in you and keeps you up at night, it scares you, it is an ambition. If that is nurtured and watered by the environment, they can be like me. “My blessing comes from the fact that I have that structure. Why shouldn’t we have that? If we do so, we can kill two birds with one stone because these talents will go and be Nigeria’s ambassadors and attract people from all over the world to our country and see the beauty of it.

Also, entertainment changes the mind set of people about a country,� he added.

Speaking on his role in the recently released science fiction firm ‘Pacific Rim Uprising’ and why it was such a hit in Nigeria, he said: “I think it is amazing.

When I was growing up, when we put on Hollywood films, our parents could not just follow them, they didn’t understand the stories. “I think a lot of that is because they did not have the characters that they could relate to and say, ‘this could be my son or daughter.’ “I think me staring in it opened that kind of door and I’m glad. I have always wanted this kind of quality entertainment to be exposed to the masses. “There are still lots of work to be done but I am happy to be one of the many artist that are part of this big jigsaw puzzle.�

WE’RE BACKING BUHARI TO STOP HIJACKERS, SAYS AMOSUN AHEAD OF TODAY’S NEC it had also become imperative that he teamed up with people, who genuinely support the conduct of the convention, as against those plotting to “hijack the party to disgrace the president�.

Amosun, who failed to name the APC leaders he was referring to, however, said one of the things that will make it easy for them to trump over those planning to “disgrace the president� was the resolve to prevail on the national chairman of the party, Chief John Odigie-Oyegun to stand down, not seek re-election, and take a deserved rest.

Stressing that Oyegun would complete his tenure without any molestation, he maintained that it was important that the national chairman understands the need to stand with the president and not be part of any plan to embarrass him, either by accident or design.

Amosun, who predicted a tension-soaked meeting at today’s NEC, said the pro-Buhari group, which he now heads in support of the convention, has the numbers to vote in support of the president’s push for a convention, even though it would not be a walkover.

He disclosed that members of the group had been networking and selling the need for the convention to those still rooting for the tenure elongation, hoping that they would come round before today’s meeting commences.

In realisation of the fact that those who want Oyegun out actually want to destroy the party, the Ogun governor said the pro-Buhari group has decided to step in and stop them immediately, especially when the same persons who convinced the president to push for the conduct of congresses and the convention did not

intimate him on the implications for the APC nationwide.

Amosun, who claimed to be working with Governors Badaru Abubakar (Jigawa), Abdulaziz Yari (Zamfara), Abdullahi Ganduje (Kano), Rochas Okorocha (Imo) and the chairman of the newly set up technical committee to review the tenure elongation, Plateau State governor Simon Lalong, maintained that they had rallied together a comfortable number to protect and back the president in the scheme of things.

The Ogun governor, who posited that he was still trying to convince some of those in his camp, but was still in support of the tenure elongation for the executives of the APC, noted that their position was justified but “the point is once the president takes a position, it is expected that we must all fall in line, regardless of our initial positions�.

Another party member in Amosun’s camp, who spoke to THISDAY on the condition of anonymity, also confirmed some of the Ogun State governor’s fears, saying: “These other people feigning to back the convention based on the Nigerian Constitution are lying to the president. “They have an agenda to hijack the party and scatter everything. But we have uncovered their plot and would make sure nobody puts the president in a difficult position. “Their agenda is simple: they want to force the president to the negotiating table eventually and use the momentum to make money, demand the impossible and put the president at their mercy. “This is a commercial transaction for them. They will start demanding oil blocks and all what not. We are not oblivious

to their plan and we have it all covered. “These same people who are opposed to tenure elongation, citing constitutional breaches, are the same people who once proposed the idea of returning a former national chairman of the party to serve for an interim period, when that clearly was an even bigger constitutional breach. “But they started crying foul over this tenure elongation just because they failed in their own plot. “We know for a fact that Buhari is being misadvised to disgrace him but we have uncovered that plot and plugged it effectively. We won’t let them have their way. “Today, it will be fight to finish and the journey to 2019 starts immediately.

These are not democrats or lovers of the country. They enjoy the illusions of their misperceptions and would stop at nothing to bring everything to a halt just because they want something. We will play their game too,� he said.

The ruling APC, at its February NEC meeting, had approved a 12 months tenure extension for its elected and appointed executives at all levels.

But the Lagos APC, engineered by the National Leader of the party, Chief Bola Ahmed Tinubu, opposed the tenure elongation and threatened lawsuits challenging the validity of the tenure elongation.

At last month’s NEC meeting of the party, Buhari sided with Tinubu by rejecting the tenure elongation for the executives.

He cited constitutional breaches, insisting that the APC should ready itself for the conduct of congresses and the convention before the 2019 elections.

Two-Minute BrieďŹ ng NEWS Emefiele Redeploys Nnanna,

Assigns Portfolios to New DGs Following the recent assumption of duty of the two new deputy governors of the Central Bank of Nigeria (CBN), the governor, Mr. Godwin Emefiele has approved the redeployment of Dr. Okwu Joseph Nnanna, from the Financial System Stability (FSS) ... Page 50

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Emefiele Rede Portfolios to ploys Nnanna, Assigns New DGs How Unity Ban k signed $1bn inve Ă—Ă‹Ă“Ă– davidso

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H I S D AY

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Ndubuisi Francis Ă“Ă˜ ĂŒĂ&#x;ÔË Ă‹Ă˜ĂŽ for Obinna Chima their efforts at Ă“Ă˜ Ă‹Ă‘Ă™Ă? managing the Nigerian financial Following the sector and in Nigeria, particularly recent assumption intervening in critical as concerns the of duty of the vulnerable andit mark, adding that sectors of the economy, the CBN and the deposit governors of two new deputy agriculture particularly needy in the society. term policies the According to . such as a cycle had concluded money banks of Nigeria (CBN), Central Bank of unfolding In his acceptance a joint initiativehim, following the disbursem plans to unfold monetary tightening to Mr. Godwin the governor, Emefiele rein in various successes, introduced speech, inflation, by the banks ent criteria for policies to eliminate fund to the vulnerable the managemand external reserves approved the Emefiele has to The expressed appreciation in 2016, each bank contribute speculator redeployment FX Guardian for five ent through sectors in Dr. Okwu Joseph of selecting tax per cent of its profit afterd Nigeria, which he the trippers s, bettors, roundsaid needed restriction of foreign exchange Nnanna, from him for the award to support the and rent-seeke the Financial for imports development access to credit. rs, and thereby stabilised System Stability commended the outfit and initiatives of goods that (FSS) Directorat On the of the the exchange foresight He added government. bank at efforts by the central be produced in Nigeria. can rate with the establishm and thoughtfufor its Economic Policye to that of at publishing countering the lness contributio He said the that the ent of adverse established effects of the CBN also the Investors-Exporters Window, ns to A statement Directorate. “Financing the the report on were among others. nearing the the fund said the CBNglobal shocks, he withdraw a Economyâ€?.

CBN spokesmayesterday by decisive N60 The embarked billion CBN Reeling off other n Mr. Isaac governor noted number of short-term on a subsidy al of the “de facto�

Okorafor disclosed achievemen the exposure that of the CBN, for the and longof the Nigerian governor equally that the economy Emefiele said ts non-essential importation of 41 the to global shocks commodities approved the deploymen with was reflection a t of Cont’d of Mrs. Aishah the Ahmad in the on Pg 52 as a country fact that Nigeria was unable Stability (FSS) Financial System sufficiently to Directorate, while produce Mr. Edward Lemetek Adamu people consume, hence what its has been assigned the the portfolio dependence on foreign huge of Deputy Governor, goods.

He attributed Corporate Services. of the country the inability Mr. Adebayo produce what to sufficiently Adelabu it consumes will retain heavy to his Deputy Governor,portfolio as sector dependence on the oil to provide Operations Directorate. exchange needed the foreign to finance The statement the country’s imports, poor affected principal said all the diversifica officers have tion of the economy, since assumed duty in their new and low factor productivi offices. ty in key non-oil sector.

The statement He also added that identified Emefiele has emerged The ostentatious and elitist the GuardianEconomic taste for imported goods of the Year (2017) Personality and inadequate in Nigeria of his contributio in recognition strategic funding to high impact the Nigerian ns to stabilising employme and financial sector nt multiplier high during the recession sectors as major challenges as well as the Bank’s effort facing the economy. in developme financing. nt While noting that the level Presenting credit in the domestic of Emefiele at the award to channelled economy a ceremony to the productive at the Eko Hotels held private Victoria Island, and Suites, below sector was critically President and Lagos, the place the levels required to the Nigerian Chairman of Council, Chartered the path of balanced,economy on Institute of Bankers of sustainable, Nigeria (CIBN), and inclusive growth, Prof. Segun Ajibola, Emefiele however assured commended that the CBN him and his and the team at the CBN to be banks would continue L-R: Renowned Petroleum catalysts to developm Akpovwa; Geoscient ent The Abuja Director General, Nigerian ist and Vice President,

stment deal with

Milost

COMFORTER

Buhari Leaves Today, To Hold for London Theresa May Talks With No date on

Nigerian Associatio Inquirer Maritime Abonnema, Rivers Newspaper, Dan Akpovwa, Administration and Safety Agencyn of Petroleum Exploratio State.....yesterday during the funeral nists (NIMASA), Dr. obsequies for Dakuku Peterside;(NAPE), Mrs. Doris Hon. Godwin Fubara Lawson, father and Chairman of of Doris Akpovwa, in

10 Killed in

Ortom cond Benue-Nasarawa Bord emns killin er Attack gs

Ten persons were yesterday killed in Yelwata, The hoodlums a border town between Nasarawa revealed, attacked , it was swiftly arresting some States, following and Benue from their a nearby a bush victims suspects. of the families an attack by unidentified part where of the victims they were hiding.

Ortom also urged prayed God and community. gunmen in the The bodies of the police to the 10 victims and other security agencies He stated that console them.

According to Benue State was to relent in their a source, the had since been recovered not not at victims w war a d in ti se i b

his return

Omololu Ogunmad e Ă“Ă˜ ĂŒĂ&#x;ÔË President Muhamma du Buhari will today leave Abuja London, the United Kingd for i

Royal Dutch Beurden, in Plc, Mr. Ben van connection with Shell and other partners’ plan to invest $15billion i N

EDITORIAL Still Waiting For the Budget

Like last year when the 2017 Budget remained a subject of speculations for months, there is also no sign when the 2018 Budget will become operational.While the controversy lastyearwasaboutwhowouldsign it into law in the absence of President Muhammadu Buhari, then on medical vacation in the United Kingdom... Page 15

Ëœ ÍˇËœ

2018

EDITORIAL

15

STILL WAITING The delay in passing

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FOR THE BUD

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the 2018 appropr

iation bill bodes ike last year ill for the econom when remained a subjectthe 2017 Budget y of speculations for months, there when the 2018 is also no sign frictions between operational. Budget will become While the controve how the legislator the legislators and executive last year was and about who would rsy how the executives’ process information it into law in sign differs from the absence lack of coordina processes information.

In tion cumulate medical vacationMuhammadu Buhari, of President has delayed s into a bigger all, the then in the United on the passage rent challeng issue that Kingdom of the budget issuesâ€?, said e among other Samuel. the budget willis about the uncertainty , the curas to when actually be passed Assembly. by the National hile discrepan To demonst the legislativ cies in ďŹ gures between the details are rate how far behind the 2018 e still being defended budget normal and and executive arms are lawmakers faulted . Last Thursday is, need to be addresse , the disapprove of Freight Forwarde the proposals by the d, we arrive at the Council for 2018 budget. the time it is taking to Inland Waterwa rs of Nigeria (CRFFN) The sends and National message such is that those ys Authority the Senate Committ tardiness in positions (NIWA). Accordin the executive ee on Marine g to and the legislatur of authority in both need for CRFFN Transpor not exude as e in our country much care as in both the 2017 to explain the N800 milliont, there is do that they are is and 2018 budgets listed never adversely required due to the fact of security equipme for the the passage affected by the of budget. billion estimated nt at the borders whilepurchase delays in To the extent the N2.7 for the purchase that a budget of dredgers and control and serves provides ďŹ nancial CAPITAL PROJEC accessories by opmental activities as the basis against TS WHICH ARE can be monitore which develwas considere NIWA delay suggests d that the Nigerian d, the current FOR DEVELOCRITICAL outrageous. operating optimally economy CANNOT BE PMENT While it is critical for developm. First, capital projects is not EXECUT ED which SINCE CONTRA are unfortunate contractual agreeme ent cannot be executed that AGREEMENTS CTUAL the buck passing budgetary approval nts cannot be initiated since BE INITIATED CANNOT without . Second, following between the capital WITHOU projects cannot executive the fact that T BUDGETARY and legislatur be executed, be paid and APPROVAL contractors cannot e is a other businesse recurring decimal, directly or indirectly s which THI both to come to the contracto provide services EDITOR S DAY the squeeze. together to ďŹ nd it is important for DEPUTY EDITORS

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Mr Atiku Samuel CHAIRMAN For hawker who delay to the EDITORIAL hitherto providedinstance, labourers at BOARD attributed the absence of a EDITOR NATION’S a construction budget calendar CAPITAL

coordination ness whilst projects site may be out food to and planning and

of busiwith him. by both parties. lack of are delayed. contracts at a Third, the We agree rapid pace due According to And four, since to the liquidityeconomy tion phase, the Samuel, during the budget squeeze.

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THE BL

POLITICS Will Corruption Decide 2019

POLITICS

T H I S D AY

M O N D AY

Will Corrupti on

DISCOU

RSE

Ëž MONDAY, APRIL 9,

2018

Group Politic s Editor Tobi Soniyi Email tobi.so niyi@thisday live.com 0705478626 0 SMS ONLY

Decide 2019 Elections?

After coming gress is again into power with a prom trying to make ise to be toug ders if the strate gy will work corruption the issue inh on sleaze, the All Prog n 2015 many ressiv the 2019 electi this time voted for Muhamm Buhari because ons. Tobi Soni es Conadu he promised a clean governme to run yi wonThen the Peoplesnt.

Democrat

I Elections?

In 2015 many voted for Muhammadu Buhari because he promised to run a clean government Then the Peoples Democratic Party was seen as a party that condoned corruption. Page 18

was seen as ic Party corruption. a party that condoned However, almost three years Nigerians are as president, beginning dent’s commitm to doubt the presiGraft remains ent to the fight corruptio of governme pervasive among institutionn. nt. From police and to customs, to immigrati s This explains it is business as usual. on why it was ment and its only the by the abysmalapologists that were governsurprised the Transpare performance of the country Perception ncy International’s Corruptioin Index n According to the perceptio the Transparency Internation n of corruptio al, worsened n in Nigeria between 2016 and 2017.

TI’s Corruptio n Perceptio Nigeria 148 n Index ranked out of 180 countries assessed 2017 on the perception in of The index showed that corruption. signalling out of 100 maximum transparency points corruption, Nigeria scored and no The results 27 points. show a slight deteriorat perception of corruption ion in tion in Nigeria in public administra In 2016, Nigeriacompared to 2016. scored 28 points 136th in the and ranked ranking With the one-point of countries. reduction in Nigeria slipped the positions, from in the country-ranking score, Despite the 136 in 2016 to 148 in by 12 2017. record in the government’s unimpres lately been fight against corruption sive hitting the , it has of accusatio PDP with a n portray itself of corruption and barrage trying to Unfortunately,as better in terms of corruption . for the trap. the PDP appears to have fallen It all started the People’s when the National Chairman Democratic of issued an Party, Uche apology to Secondus the public of his party. on behalf Mohammed Speaking at ..promises to a national release more temporary names Governance discourse on ‘Conin Nigeria’, said : “I hereby, of penitence Secondus for such as the National admit that Chairman, do own up and apologizea party is not just the to we are humans,PDP made a lot of the looted , but to also “If mistakes; funds. Anything return formerprofessor Osinbajo not spirits to admit is mere deceit. and the short of that President Jonathan has proof that is challenge looters list admit that key in moving forward.ability ‘’Returning him to publish did so, then we of we looted funds “We money lectively allegedAPC members who a professor we have passedhave made several will provide his proof. for these were colmistakes; of law and He is and to more he through all and have acquired ought more meaningf programmes and who alleges challenged have looted over $2 billion our make life must prove.� to know that Informati President Buhari the experienc challenges better apology ul for Nigerians party can boast National Publicity . There is no on e no other and than that.� of. “We were Secretary of men did not Minister to explain why the Kola Ologbodiy Nigerians Thereafte sanctione at the PDP, feature on these an, also d by Osinbajo r, the Vice President this opportunthe polls in 2015; let their list. , Prof. Yemi not being bold enough accused Osinbajo of made damaging me use ity to apologise to mention those he claimed mistakes.

The former allegation for our past the government of names of Dr Goodluck s against to know whypresidential aide also and the PDP Ologbondiyan stole public funds “It is the honest Jonath sought He id the said h thi l

FEATURES Unending Killings in Kaduna

FEATURES

T H I S D AY

It was a pensive and sorrowful atmosphere at the Commonwealth I Cemetery, Kaduna, penultimate Thursday as the remains of the 11 soldiers killed by armed bandits in Kompanin DokaVillage, Birnin Gwari Local Government Area of Kaduna State were laid to rest.

Page 20

Unending Ki John Shiklam llings write

˞ ˜

ÍˇËœ Í°ÍŽÍŻÍś

Acting Featur es Editor Charle s Ajunwa Email charle s.ajunwa@this daylive.com

in Kaduna

s on the recen Government t slaughter of Area of Kadu has made life 11 soldiers in a nightmare na State by armed band Birnin Gwari for communiti its and the unen Local t was a pensive es in the area and sorrowful ding criminalit at the Commonw atmosphere ealth Cemetery, penultimate y that Kaduna, Thursday as the 11 the remains

soldiers of in Kompanin killed by armed bandits Doka Village, Local Governme Birnin nt Area of KadunaGwari were laid to rest.

State Top military deceased soldiersofficers and relations of the arrived the a.m. to pay cemetery their who laid down last respect to the by 10 soldiers Nigerians againsttheir lives in the defence of criminals that communities are terrorising across the country.

They were a year after cut down in their prime, joining the less than Nigerian Army.

The deceased soldiers aged 23, were identified between 19 and Ahmed Olabode, by the army authorities Bamidele Adekunle, as Ogochukwu, Christian Adamu Mohamme Ahmed. d and Lamara Others are Suleiman Mubarak, Usman Abubakar, Bashir Sani, Nafiu Iliyasu, and Alhassan Safiyanu Ahmed Ibrahim.

They were part of the codenamed ‘Ayem Akpatumamilitary operation on February ’ which commence d situation in 5, 2018, to combat the Kamuku Forest security Maj. well as curtail and its environs Gen Muhammad the activities as eulogising kidnappers of the late soldiers armed and robbers, On Tuesday, cattle rustlers. invaded their March 20, 2018, the killing 11 of camp at about 8 p.m. bandits them while to 9 p.m. to have been four others were said wounded.

The soldiers ment of troops were said to be among a detachdeployed to security for expatriates the area and constructio to provide working on n personnel a with Kaduna new road linking Zamfara through State Dansadau Zamfara and -Dangulbi in Birnin Gwari Work on the in road was saidKaduna. suspended to have been in 2017 following one of the foreign engineers the abduction of site by unknown working at gunmen, though the released. he was later For years, bandits have been terrorising Birnin Gwari ruthlessly as communities and travellers the they robbed, so raped and rustled cows. killed, kidnapped, Their deadly of the security activities and the seeming inability agencies to led to the decline contain them have of socio-economic in the area as reign of terror. the communities live activities under a Families and Speaking at relations of the late soldiers soldiers, the the funeral ceremony General Officer paying their of the will (GOC) 1 Division last respects not of the Nigerian Commanding killings relent in fishing out Maj. Gen. Muhamm those behind Army, Kaduna, and bring them the Kaduna ad Muhamm encomiums to justice. “We assure ad, showered State on the peace of the Nigerian communit regretted the governor, Mallam Nasir Muhammad the deceased soldiers. this country, death of the el-Rufai y that joined the armysaid the deceased soldiers we will guarantee “We found The governor soldiers. who donated it. life and ready barely a year ago were who we will not ourselves today as first N500,000 each respondents, assistance to the family shy away from to serve the full of to as of the d said th The GOC count do it W d

BUSINESS UBA’s Loans to Agriculture, Power

Sectors Hit N265 Billion Whereas most commercial banks shy away from lending to the agriculture sector, Pan-African banking group, United Bank for Africa (UBA) Plc has granted as much as N85billion loans to the sector. Page 23

BUSINESSW

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MONEY MARKET OBB OVERNIGHT

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tackling security challenges. “May God and th N grant the familie

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Group Busine

S & P INDEX 1/4 TO DATE

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Email chika.amEditor Chika Amanze-Nwac anzenwachukw huku u@thisdaylive.c om 0803329415 7

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EXCHANGE RATE ͹͎ͳ˛ʹ͎˚ͯ ̊ ̊

THUMBS DOWN Discos’ Failu re to Pay for Electricity Sold to Them

Ăž Ă?Ă—Ă?ĂœĂ‘Ă?ĂŽ Ă–Ă‹Ă?Ăž ĂĄĂ?Ă?Ă• ÞÒ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? Ě™ Ă“Ă?Ă?Ă™Ă?Ěš Ă—Ă‹ĂŽĂ‹Ăž Ă™Ă˜Ă–ĂŁ Ă?Ă™Ă&#x;Ăœ Ă™Ă? ÞÒĂ? ÍŻÍŻ Ă?Ă–Ă? ĂŒĂŁ ÞÒĂ? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă&#x;Ă–Ă• Ă–Ă? Ă? ĂšĂ‹ĂœĂž ÚËã×Ă?Ă˜ĂžĂ? Ă?Ă™Ăœ Ă?Ă–Ă?Ă?Ă?ĂžĂœĂ“Ă?ÓÞã Ă“Ă?ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ“Ă™Ă˜ Ă’Ă? Ă–Ă‹ĂžĂ?Ă?Ăž Ă—Ă‹ĂœĂ•Ă?Ăž ĂœĂ?ĂšĂ™ĂœĂžĂ?ĂžĂœĂ“Ă?ÓÞã ĂœĂ‹ĂŽĂ“Ă˜Ă‘ Ă–Ă? Ě™ ĂžĂœĂ“Ă?ÓÞã Ă?ÙÖÎ ÞÙ ÞÒĂ?Ă— Ă?ÒÙåĂ?ĂŽ ÞÒËÞ Ă‹ĂŽĂ&#x;Ă˜Ă‹Ëž Ă•Ă? Ă™Ă˜ ÞÒĂ? Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ ĂœĂ?×ÓÞÞË Ěš Ă“Ă˜ Ă‹Ă˜Ă&#x;Ă‹ĂœĂŁË› Ă“Ă?Ă?Ă™Ă? ĂŽĂ“ĂŽ Ă˜Ă™Ăž ĂœĂ?Ă—Ă“Ăž Ă‹ ĂŽ ÔË˞ Ă‹Ă˜Ă™Ëž Ă™ĂœĂž Ă‹ĂœĂ?Ă™Ă&#x;ĂœĂžËž Ă˜Ă?Ă?Ă? ĂŒĂŁ ÞÒĂ? Ă“Ă?Ă?Ă™Ă? Ă“Ă—Ă“Ă–Ă‹ĂœĂ–ĂŁËœ Ă‹ ĂœĂ?ĂšĂ™ĂœĂž ĂŒĂŁ ÞÒĂ? Ă“Ă—Ă? ÞÙ ÞÒĂ? Ă“Ă˜ Ă‹Ă˜Ă&#x;Ă‹Ă?Ă˜Ă“Ă˜Ëž Ă•Ă™ Ă‹Ă˜ĂŽ ĂŒĂ‹ĂŽĂ‹Ă˜ L-R: President,

Ă‹ĂŽĂ&#x;Ă˜Ă‹ Ă‹Ă–Ă?Ă™ Ă?Ă‹Ă“Ă–Ă?ĂŽ ÞÙ ĂœĂ?Ă— Ă“Ă˜ Ă?Ă?Ă?Ă—ĂŒĂ?Ăœ Ă?ÒÙåĂ?ĂŽ ĂœĂŁË› Chartered Institute Taiwo Adeoluwa; Ă“Ăž Ă‹Ă˜ĂŁ Ă—Ă™Ă˜Ă?ĂŁ ÞÙ ÞÒĂ? ÞÒËÞ Ă•Ă?ÔË˞ Ă‹Ă˜Ă™ Ă‹Ă˜ĂŽ of Bankers of cycle.

Nigeria (CIBN), Nnamdi Okonkwo;Governor, Central Bank Ă?Ă™Ăœ ÞÒĂ? Ă?Ă?Ă?Ă—ĂŒĂ?Ăœ Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ÞÙ ÞÒĂ? Ă–Ă‹ĂžĂ?Ă?Ăž and Deputy Group of Nigeria, Mr. Godwin Prof. Segun Ajibola; Secretary “Financing The Emefiele; Managing ĂšĂ‹ĂœĂžĂ? Ă™Ă? ÞÒĂ?Ă“Ăœ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ ĂŒ ĂœĂ?ĂšĂ™ĂœĂžËœ Ă™Ă˜Ă–ĂŁ ĂŒĂ&#x;ÔË˞ Ă˜Ă&#x;Ă‘ Managing to the Ogun State Economyâ€? and Lagos ‌ recently Director/C the confermen Director, UBA Plc, Mr. Victor Government, ÞÒËÞ Ă˜Ă&#x;Ă‘Ă&#x; Ă“Ă?Ă?Ă™ ĂœĂ?×ÓÞÞĂ?Ă“Ă–Ă–Ă? ÞÙ ÞÒĂ? Ă“Ă˜ Ă‹Ă˜Ă&#x;Ă‹ĂœĂ&#x;Ëž Ă™Ă? Ă‹Ă˜ĂŽ ÙÖË ÚËÓÎ Barrister t of the Economic Osadolor at the hief Executive Officer, Fidelity Personality of Ă“Ă?Ă?Ă™ ĂŽĂ“ĂŽ Ă”Ă&#x;Ă?Ăž ͯ͜˛ʹ͎ ĂšĂ?Ăœ ĂŽ Ă‹ĂŒĂ™Ă&#x;Ăž Ͱ͡˛ͰͲ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ùã˛ Ă’Ă? ĂœĂ?ĂšĂ™ĂœĂž Ă˜Ă™ĂžĂ?ĂŽ the Year Awardformal launch of the Guardian Bank Plc, Mr. Ă?Ă?Ă˜ĂžË› ÙÖË Ă“Ă?Ă?Ă™ ĂĄĂ’Ă“Ă?Ă’ Ă“Ă? Ă?Ă?Ă˜ĂžËž ĂĄĂ’Ă“Ă–Ă? Ă™Ă? Ă“Ă?Ă?Ă™Ă? Ăš Ă? Ă“ĂžĂ? Ă“Ă˜Ă Ă™Ă“Ă?Ă?Ëž ĂŒĂ&#x;ÔË on Emefiele held Compendium on at the Eko Hotel ÚËÓÎ ͯͳ˛͎ʹ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? Ă“Ăž Ă?Ă&#x;ĂœĂœĂ?Ă˜ĂžĂ–ĂŁ Ă—Ă‹Ă˜Ă‹Ă‘Ă?ĂŽ ĂŒĂŁ ÞÒĂ?Ă‹Ă“ĂŽ Ă‹ ĂšĂ‹Ă–ĂžĂœĂŁ ͡˛͎͡ ĂšĂ?Ăœ and Suites, Ă?Ă?ĂŽĂ?ĂœĂ‹Ă– ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ă’Ă? ĂœĂ?ĂšĂ™ĂœĂž Ă“Ă˜ĂŽĂ“Ă?Ă‹ĂžĂ?ĂŽ ÞÒËÞĂ? Ă“Ă˜Ă Ă™Ă“Ă?Ă?Ë› Ă’Ă™Ă&#x;Ăœ Ě™ Ă’Ěš Ă™Ă? Ă?Ă–Ă?Ă?ĂžĂœĂ“Ă?ÓÞã ĂĄ Ă“Ă˜ Ă‹Ă˜Ă&#x;Ă‹ĂœĂŁËœ Ă‹Ă˜ Ă‹Ă Ă?ĂœĂ‹Ă‘Ă? Ă™Ă? ͡Ͱ˛͡͹ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? ÞÒĂ? ÞÙÞËĂ? ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂŽ ĂŒĂŁ ÞÒĂ? Ă“Ă?Ă?Ă™Ă? Ă? Í°ËœÍ˛Í˛ÍłË›ÍŽÍ´ Ă—Ă?ÑËåËÞÞĂ? Ě™ Ă?Ă˜Ă?Ă™Ă?Ěš ĂšĂœĂ™ĂŽĂ&#x;Ă?Ă?ĂŽ ĂŽĂ‹Ă“Ă–ĂŁË› Ă‹Ă– Ă?Ă–Ă?Ă?ĂžĂœĂ“Ă?ÓÞã ÞÒËÞ ÞÒĂ? Ă‘Ă?Ă˜Ă Ă?ĂœĂŁ ĂŽĂ‹ĂŁ ĂœĂ?ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ“Ă˜Ă‘ Ă?ĂœĂ‹ĂžĂ“Ă™Ă˜ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă?

Ăž Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ ÞÒËÞ ÞÒÓĂ? Ă‹Ă— ĂĄĂ‹Ă? Ă?Ă?Ă˜Ăž ÞÙ ÞÒĂ? Ă“Ă?Ă?Ă™Ă?Ëœ Ă‹ Ă™Ă&#x;Ă˜ĂžĂ?ĂŽ ÞÙ Ă‹Ă˜ Ă“Ă˜Ă Ă™Ă“Ă?Ă? Ă™Ă?

Chika Amanze-N ĂŒĂŁ ÞÒĂ? Ă?ĂœĂ™Ă— ÞÒĂ? Ă‹Ă˜Ă˜ĂŽ Ă™Ă&#x;Ăž Ă™Ă? ĂĄĂ’Ă“Ă?Ă’ Ă™Ă˜Ă–ĂŁ ʹ˛͎ ͲͲ˛͜ͳ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ ĂĄĂ’Ă“Ă?Ă’ wachuku ͯ͹˛ͳ͜ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? ÞÒĂ? Ă“Ă˜Ă Ă&#x;Ă‹ĂœĂŁ Ă“Ă˜Ă Ă™Ă“Ă?Ă?Ë› Ă?Ă‹Ă“ĂŽ Þ͜ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ ĂĄĂ‹Ă? ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂŽ ECONO MY Whereas most Ă’Ă“Ă? ĂœĂ?ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ?ĂŽ Ă”Ă&#x;Ă?Ăž Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ ÞÒËÞ Ă“Ă˜ Ă?Ă‹ ÙÓĂ?Ă?Ë› commercial banks lend a lot shy away from of money Ă‹Ă—Ă™Ă&#x;Ă˜ĂžĂ?ĂŽ ÞÙ Ͱ˛;͎ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜Ă?ĂžËœ ÞÒĂ? Ă“Ă?Ă?Ă™Ă?ËŞ ÚËã×Ă?Ă˜ĂžĂ? Ă?Ă™ Head, Investor to the which lending to the agriculture sector, Relations, at manufacturing sector is very important. ÞÒĂ?Ă— Ă‹Ă? Ă–Ă‹ĂžĂ? ÚËã×Ă?Ă˜Ăž Ă?Ă™ Ëœ ĂŒĂ&#x;Ăž ÞÒËÞ Ă“Ăž ÑÙÞ Ă‹ ͹˛͹; ĂŒĂœ ÞÒĂ? Ă‹Ă˜Ă&#x;Ă‹ĂœĂŁ Ă“Ă˜Ă Ă™Ă“Ă?Ă? and one see of the few banks Pan-African the UBA Group, Mr. So we banking group, that as a way Abiola that lend Rasaq ÚËã×Ă?Ă˜Ăž Ă“Ăž ÑÙÞ Ă?ĂœĂ™Ă— ÞÒĂ? Ăœ Ă?Ă?Ă?Ă—ĂŒĂ?Ăœ Ă“Ă˜Ă Ă™Ă“Ă?Ă?Ëœ ĂĄĂ’Ă“ Ă“Ă–Ă–Ă“Ă™Ă˜ ÚËã×Ă?Ă˜Ăž Ă?ĂœĂ™Ă— Africa (UBA) United Bank for tive said at a recent interac- of money to the power a lot the real sector of supporting Ă™Ă–Ă–Ă™ĂĄĂ“Ă˜Ă‘ ÞÒĂ? Ă’Ă&#x;Ă‘Ă? ĂŽĂ?ĂŒĂž Ă“Ă?Ă?Ă™Ă? ÞÙ ʹ˛͎͜ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ Ă“ Ă?Ă’ ĂŒĂœĂ™Ă&#x;Ă‘Ă’Ăž ÞÒĂ? ÞÙÞËÖ session with of the sector because we as much as Plc has granted that journalists find these sectors not necessary from economy Ă‘Ă?Ă˜Ă?ĂœĂ‹ĂžĂ“Ă˜Ă‘ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? Ă’Ă‹ ÙåĂ?ĂŽ ÞÒĂ? Ă?Ă˜Ă?Ă™Ă? ĂŒĂŁ ĂžĂ’Ă˜ Ă‹Ă˜Ă&#x;Ă‹ĂœĂŁË› the N85billion sector perspective the banking loans agriculturebank’s loans to the to be critical. to the sector. ĂŽ Ă–Ă‹Ă?Ăž ĂŁĂ?Ă‹Ăœ ĂžĂ’ĂœĂ?Ă‹ĂžĂ?Ă˜Ă?ĂŽ Ăž Ă? Ă“Ă?Ă?Ă™Ă?Ëœ ÞÒĂ? ÚÙåĂ?Ăœ and supply power Also, lending or from a profit In terms of SMEs, sector represent making perspective the power Ă™ ĂŒĂŁĂšĂ‹Ă?Ă? ÞÒĂ? Ă“Ă?Ă?Ă™Ă? to 5 per about Industry experts directly to certain class of UBA is the sector is in â€?, said Rasaq. customers. excess He of its overall loan book. highest lender to agriculture opined that the of N180billio In terms Ă?Ă?Ă?ĂžĂ™Ăœ Ă‹ĂœĂ™Ă?Ă? Ă?ĂœĂ™Ă— ÞÒĂ? explained that n financial distress Today our loan . Responsibi of Corporate Social Group, recent across the UBA African facing the power the ĂœĂ?Ă?Ă‹Ă–Ă?Ă“ĂžĂœĂ‹Ă˜Ăž Ă?Ă“Ă˜Ă‹Ă˜Ă?Ă“Ă‹Ă– ËÞÞ book Panlity ĂĄĂ’Ă™ Ă?Ă‹Ă“Ă– ÞÙ (CSR), Rasaq in agri- the culture alone financial Ă—Ă?Ă?Ăž ÞÒĂ?Ă“Ăœ Ăš said

by THISDAY figures obtained find Ă?Ă&#x;ÚÚÖÓĂ?ĂŽ ĂŒĂŁ ÞÒĂ? Ă?Ă˜Ă?Ă™Ă?Ë› Ă‹ĂŁĂ—Ă?Ă˜Ăž Ă™ĂŒĂ–Ă“Ă‘Ă‹ĂžĂ“Ă™Ă˜Ă? ÞÙ ÞÓÞĂ&#x;ĂŽĂ?Ă? Ă™Ă? ÞÒĂ? Ă“Ă?Ă?Ă™Ă?Ëœ these sectors institution 5 per of our represents about in bank spent N816millio have revealed.

2017 alone to Agriculture is overall loan Ă—Ă‹ĂŽĂ? Ă“Ăž Ó×ÚÙĂ?Ă?Ă“ĂŒĂ–Ă? Ă?Ă™Ăœ Ăž Ă’Ă? ĂŽĂ?Ă Ă?ÖÙÚ×Ă?Ă˜ĂžËœ Ă‹Ă?Ă?Ă™ĂœĂŽ Ă’Ă? Ă?Ă™Ăœ ÚÙåĂ?Ăœ supporting n book Nigeria’s single critical to Nigeria’s be very of N1.7trn; that largest contributor the economic Ă’Ă? Ă?Ă˜Ă?Ă™Ă? ÞÙ ÚËã ÞÒĂ? Ă‘Ă‹ Ă“Ă˜Ă‘ ÞÙ ÞÒĂ?Ă—Ëœ Ă’Ă‹Ă? Ă‹Ă–Ă?Ă™ represents about economy. growth ÞÒĂ? Ă“Ă?Ă?Ă™Ă? Ă’ and N85billion to economic stability. Besides, Ă‹Ă Ă? ĂœĂ?Ă?Ă&#x;Ă?Ă?ĂŽ growth and He said: in agric. said the Ă?Ă’Ă™Ă?Ă? ÞÙ ĂœĂ“ĂšĚ‹Ă™Ă?Ă? Ă?Ă–Ă?Ă?ĂžĂœĂ“Ă? ÞÙ ĂšĂœĂ™Ă Ă“ĂŽĂ? ÞÒĂ?Ă“Ăœ Ă?Ă™Ă˜Ă?Ă&#x;Ă—Ă? Ă?Ă&#x;ÚÚÖÓĂ?ĂœĂ?Ë› Ă?Ă?Ă“ĂŽĂ?Ă?Ëœ he employs the “We donated “In power, largest sector loans to the agriculture number of rural today, we have N300million to Ă‹Ă?Ăž ĂŁĂ?Ă‹ĂœËœ Ă’Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ ÓÞã Ă&#x;Ă?Ă?ĂœĂ? ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă?Ă?ÞÓ×Ë Ă?ĂœĂ? åÓÞÒ Ă—Ă?ĂžĂ?ĂœĂ?Ëœ ĂŒĂ&#x;Ăž the Nigeria Police because share of banking dwellers, yet its her will help Nigeria attain lend in excess of N180billio ĂŽĂ“ĂœĂ?Ă?ĂžĂ?ĂŽ ×ËâÓ×Ă&#x;Ă— ĂŽĂ?Ă— Ă–Ă?Ă?ĂžĂœĂ“Ă?ÓÞã Ă?Ă‘Ă&#x;Ă–Ă‹ĂžĂ™ĂœĂŁ Ù×ÞĂ?ĂŽ ĂŒĂ“Ă–Ă–Ă“Ă˜Ă‘Ă?Ë› of security issue target to be sector credit has n Nigeria self-sufficient across the UBA Group, been low because in ÞÙ Ă?ÞÙÚ ĂšĂ‹ĂŁĂ“Ă˜Ă‘ Ă?Ă?ÞÓ×ËÞĂ?ĂŽĂ‹Ă˜ĂŽ Ě™ Ěš Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? Ă˜Ă™Ăž Ă—Ă“Ă?Ă?Ă“Ă™Ă˜ Ě™ Ěš Ă’Ă‹ĂŽ and not banks. and likewise some other just in Nigeria commercial in food production. ĂšĂœĂ™Ă Ă“ĂŽĂ?ĂŽ åÓÞÒ Ă—Ă?ĂžĂ?ĂœĂ? banks regard but in some We also ĂŽĂ“ĂœĂ?Ă?ÞÓà Ă? ĂĄĂ‹Ă? ÞÙ Ă—Ă‹Ă•Ă? ÞÒ ĂŒĂ“Ă–Ă–Ă? ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ?ĂŽ ĂŒĂŁ Ă“Ă?Ă?Ă™Ă?

Rasaq the sector as unsafe group also noted that UBA African countries becauseother million to Lagos donated N50 for lending. ĂŽĂ?ÚÖÙã×Ă?Ă˜Ăž Ă?Ă™Ăœ Ă?Ă&#x;Ă? Ă? Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? ÞÙ Ă?Ă?Ă?Ă?Ă?ÞÓà Ă? Ë› Ă?Ă‹Ă“ĂŽ ÞÒËÞ ÞÒĂ? was one the have identified state we trust Ă–ĂŁ Ă?âĂ?Ă?Ă&#x;ĂžĂ? Ă—Ă?ĂžĂ?ĂœĂ“Ă˜Ă‘ banks that Recent figures fund. In addition security ĂĄĂ™ Ă™Ă? ÞÒĂ? Ă“Ă?Ă?Ă™Ă?Ě‹ Ă•Ă™ ÞÙ×Ă?ĂœĂ?Ë› be very critical, these sectors to UBA obtained from have extended a lot of to that, UBA group also donated Ă–Ă?Ă?ĂžĂœĂ“Ă?ÓÞã Ă“Ă?ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ“Ă™Ă˜ Ă™ loans to a not only from the manufactur Ikeja Electric revealed that business perspectiv were quick to ing sector because to four different N25million bank is the Ă—ĂšĂ‹Ă˜ĂŁ Ě™ Ěš the it is ve issue a j i Ă?Ă™Ă˜Ă?Ă&#x;Ă— e t hi h t ĂŽ

FINANCING THE ECONOMY

UBA’s Loa to Agricu Sectors Hitns N265 Billionlture, Power

CITY STRINGS Fighting Cultism

CITYSTRING S

Worried by the activities of cult groups in Akwa Ibom State, the state Governor Udom Emmanuel recently passed an order proscribing 33 identified cult groups in the state. Out of this number, 14 groups W includingVikings; Black Axe; KKK; Buccaneers, Mafia, Luttox (Junior Black Axe); Debam; Dewell...

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ÍˇËœ Í°ÍŽÍŻÍś

Ă?ĂžĂ“Ă˜Ă‘ Ă?Ă‹ĂžĂ&#x; ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’ Ă‹ĂœĂ–Ă?Ă? Ă”Ă&#x;Ă˜ĂĄĂ‹ Ă—Ă‹Ă“Ă– Ă?Ă’Ă‹ĂœĂ–Ă?Ă? ˛ËÔĂ&#x;Ă˜ĂĄĂ‹ĚśĂžĂ’Ă“Ă? ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

Fighting Cu ltism

Okon Bass Governmentey, in this report, writes on to contain cult-r the measures taken elated activities in the state by the Akwa Ibom State

Akwa Ibom

State governor,

Chief Udom

Emmanuel (3rd

right), his deputy,

Mr. Moses Ekpo,

state Police

Commission

orried by the er, Mr. Adeyemi Ogunjemilu cult groups activities of si (standing), in addressing State, the stateAkwa Ibom stakeholders Governor at the Etim Udom Emmanuel Ekpo peace meeting passed an order recently There are cultist 33 identified proscribing in the state. cult groups Out of this s in secondary including Vikings; number, Black Axe; KKK; 14 groups Mafia, Luttox schools in and primary Buccaneers, (Junior Black Icelanders; the state. We Red Skins; Axe); Debam; Dewell; cannot hide Pirates; Amoc; Marines; and that. Securi Akwa to have been Utoto Groups (419), agencies have ty were said in the state operating in some communit identiďŹ ed while 19 cult that. ies That is Luttox; the Red groups namely governor is why the 11 Group; SecretSkins; St. Stephens; Dewell; the Sept interested (Junior Vikings); Sons of Satan; King the safety and Cobra; J.V in Bats; Predators; Black Cross; Black Scavengers; of the society well-being Skylolo; Sons Ladies; Blood Brotherho of Nights; od Junior Buccaneer Angels; and the govern . That is why s; White and primary Musket; operated at secondary school levels and decide or is so angry In outlawing in the state. stressed that the groups, Governor Emmanuel step. If we d to take this it allow this to conferred on was in the exercise of the contin him by Section powers ue to build Code Law, 70 of the Criminal Cap up from a strong found State 2000 and 38, Vol.2, Laws of Akwa ation in in that behalf, all other powers enablingIbom children as him ing forthwith declaring illegal and proscriband second low as primary secondary andcults, groups, or societies in the then we areary schools He maintaineprimary schools in the society or groupd that the activities of state. our future mortgaging all cult, Akwa hereby prohibitedidentified by the order and will live Ibom governor, “are Chief Udom and under threat prosecuted Emmanuel. in accordanc defaulters shall be ..has zero tolerance Ekpo and Offensive Weapons e with the for cultism and Violent Cultism, because Ukanafun local governme (Prohibition) of the Behaviour nt 2004, or any areas. Residents high number of killings areas aspirants in in that regard.â€? other enabling the forthcomin in the avoid in the areas law between g The governor are 2019 any to stay indoors elections to 6.00 form of insistence, explained on kidnappin by the government, p.m. and 7.00 a.m. daily. cited as the if Cultism and that the order may be g, killing which The for fearinternal zoning arrangeme not favoured groups Other Violent in Uyo metropolis said the ban on motorcycle (Prohibition) were not reportedand clashes among cult nt of the area, of unduly Behavior Order, 2018 was still in f heating u s you k in thos LGA had it th the u force and h ll th f h

INTERNATIONAL Trump Warns of ‘Big Price’ after

Suspected Syria Gas Attack An alleged chemical attack that left dozens dead in Syria’s rebel-held town of Douma sparked international outrage Sunday, with US President DonaldTrump warning there would be a “big price to pay�, according to AFP. Page 48

8

INTERNATIO

Trump Warn NAL Suspected Sys of ‘Big Price’ after ria Gas Attac k

MONDAY, APRIL 9, 2018Ëž T

email:foreign

desk@thisda

H I S D AY

ylive.com

An alleged chemical attack that left dozens mindless Syria’s rebel-hel dead in Syria,� CHEMICAL attack in Trump wrote “fabricat ions�.

Douma sparkedd town of on Sunday, on Twitter The Russian “with symptom tional outrage interna- ian Presidentlashing out at Syrforeign of exposure to s indicative with US President Sunday, and Russia’s Bashar al-Assad ministry called the “The scene latest a chemical reports a Vladimir Putin, Donald Trump warning “provoca tion�, agent�. ing. So many was horrify- saw in there would key ally of the regime. a warning against It said six be a “big choking, so people were he said.the last few hours,� “military “Presiden people price to pay�, intervent many accordin g and Iran are t Putin, Russia fetched ion under far- while being treated, and died White Helmets people,� to The reports responsible res- Firas member and fabricated cuers found 42 As internatio AFP. prompted backing Animal for dead in their more people from al-Doum i told AFP widespre ad condemn nation pourednal condem- price Assad. Big pretexts�. ation inside Douma. and calls for to pay,� he Syria’s White signs of similarhomes with were reports in, there an investiga said. “Most died Helmets Asked whether who that just immediately. tion.

Footage postedsymptoms. The majority hours after the US in act as first responde , could again the UN online by rs rebel-held alleged respond tack rebel forces atand children, were women Guterres chief areas of Syria, the White Helmets, Antonio with said had agreed a missile strike, � which the attack said he to evacuate White “We only he said. took place was not possible to House was verify, have four “particul arly alarmed� showed last holdout Douma, their adviser homelan d security late on Saturday adding that using lowed victims with yel- oxygen machines “poisono us Tom Bossert any confirme , ,� oppositio n in the onetime ABC chlorine gas�. skin crumpled said Mohamm told television strongho ld In a joint on the Douma ed, a doctor inside use of chemical weaponsd Eastern Ghouta. of take anything : “I wouldn’t statemen t ground and foaming with the at the were who told AFP they would be “abhorre mouth.

Trump’s threat nt�.

The regimeoff the table.� Medical Syrian American not enough Pope Francis came sia Other Society to exactly a year and treat t h e the dozens describe d residents could Rus- the (SAMS), both denied allegat White Helmets seen receiving be breathing coming in with after the US and a day of chemical any use r i b l e n ew i o n s a s “ t e rproblems . weapons as more than 500 cases said hospitals, with treatment at missiles at a fired cruise “The situation “ N o t h i n g , s � , s ay i n g : shell-shocked were medics brought to is in retaliatio Syrian air base n really, o medical t really holding up gas hin centres to n for a deadly masks working tragic. I’ve been j u s t i f y t h e u s e o g c a n motionless sarin gas attack f s uch devices infants. here “Many dead, in 2017. and have neverfor four years against of extermin ation including defenceless seen what I women and people and populati children, in ons.�

One Killed, Dozens Wounded in Clashes in Central African Republic

At least was killed one civilian and dozens of United peaceke epers, Nations and militia civilians fighters were injured during an operatio n against groups in Central armed African Republi c’s capital on Sunday, Reuters reported a U.N. spokesm an as saying.

Heavy gunfire erupted in Bangui’s bourhoo d PK5 neighenclave in – a Muslim the majority Christia around 2 n city – at a.m., (0100 GMT) witnesse s said, as peaceke epers a d d

9, 2018

SPORTS Adegoke, Ogunlewe in Tough Sprint

Final against Blake, Simbine Nigeria’s quest for a sprint medal at the ongoing XXI Commonwealth Games in Gold Coast, Australia rests on the shoulders of Enoch Adegoke today in the finals of the men’s 100m event. Page 55

MONDAYSPO RTS

COMMON

W E A LT H

GAMES

55 Group Sports Editor Duro Email duro.ik hazuagbe@th Ikhazuagbe isdaylive.com 0811 181 3083 SMS ONLY

Adegoke, Ogu Sprint Final ag nlewe in Tough ainst Blake, Si mbine

Duro Ikhazuagb e Blake with Nigeria’s quest a season’s a PB of 9.69 with be hunting best of 9.90 medal at the for a sprint Simbine and Women’s for a medal in the (PB: 9.89) and Commonwealth ongoing XXI best 400m men’s F46 Javelin throw season the Carrara of 9.94 all semi final. at Coast, AustraliaGames in Gold Elsewhere at Stadium.

Except for to contend with. the Oxemford in the quarter final rests on the Samson Nathaniel shoulders of violation and fa alse start Okezie and Chidi Studios, Nigeria’s Millicent 75kg boxing weightof women’s The men’s will also compete today in the Enoch Adegoke cases, other sundry Agboegbu in the Elizabeth lem will fight Lukmon Lawal facesclass while will take on Table Tennis team Adegoke should 100m event.finals of the men’s contended England Uganda’s Regarn Andiego of with lowering be Kenya 81kg Singwa in the men’s final while D’Tigersin the semi Yesterday, PB even if he round of 16. also face Australia in the cannot make his the strong Adegoke braved podium. the the basketball preliminaries of second semi field to win the event in Cairns.

Earlier secs. Before final race in 10.24 Nigerian yesterday, all three then, he had semi a Personal Best finalists set women’s sprint failed in the to win his heat. time of 10.19 the to make final.

That time is one of the Isoken Igbinosun today’s finalfastest leading to Madu , Jennifer Yohan Blake.behind Jamaican could and Joy Udo-Gabr iel not hit the final Another Nigerian, of the event Ogunlewe also Seye four Blessing Okagbare won years made the blue Scotland ago in Glasgow, ribband event fastest losers as one of the longer and even added the in Ogunlewe the semi final. double.sprint to complete the behind Cayman finished 3rd However, Island’s Kemar Hyman and Udo-Gabri the performance of South Africa.Akani Simbine of to track el was heartwarming and field aficionado Former as the champion, Nigeria’s sprint Lagos 18-year old University s of Egwero failed Ogho-Oghene hope Undergraduate rekindled final as he ran to make the from in future stars emerging the local scene to finish 6th a dismal 10.42 country. in the in the first semi won by Blake The 11.53 she (10.06) with Englishman ran to finish 4th Adam Gemili of is the second fastest time the runner up. her fledgling How Adegoke Meanwhile, career. will make his podium placemen there will also t a reality be finals in the men’s shot-put remains to be seen as he has and the Para Athletics.

Goodness Duru will be also Nigeria’s Enoch Adegoke (right) with Rohan Browning in one of the The arrival heats yesterday of Table Tennis whizkid, Aruna in the 100 metres Also speaking Quadri has race in Gold boosted the yesterday Coach Coast, Australia teammates morale of his NigeriaBello Nosiru said that, As as well as other Nigerians look was at a touching Nigerian officials anxiously to the day the country’s as the semi distance for a medal the final of Team were buoyed national The athletes body weight. and Event with the arrival anthem would be played In the absence strokes off. of Aruna lower you the ongoing weigh, the number of World at better of Quadri, Quardri.

Segun Toriola Commonwealth Records chances he has crashed ‘’We played Games piloted in Gold Coast overtaking thoseyou have in speaks for him. in February, Kehinde the so to berth in team “Every competitio as a sign in went the semi finals Quardri but nowwell without that a gold medal 222kg lift. The which automatica the weights you tie with attends, that he is won, World lookedfor around, we he breaks n he amazement and one Paralymp has been in won’t ‘’I’m focused.lifted. a medal in lly guarantees for World the ic athlete, he powered our quest for look back Paul Kehinde There is no Records’’ national Paralympi lift to problem Commonwealththe ongoing Team gold has c up until the sky and held event and the in the himself as the one anointed The only here in the Village. Coach, Are Feyisetan Games in Gold Coast, concurring singles’’, anxious problem that said, to makethe mandatory countsit to end the Bello said. Quadri Australia. that his athlete I have was wait. is focusing on history again.

Toriola was ranking player is the highest a gold material.

Kehinde competes Out here though, And for me the gold medal. yesterday whenoverwhelmed at competin Kehinde to in Kehinde GC2018 and strike g Powerlifti the is Games Village he said at the confident Nosiru is contend ng 65 kg but has to have to lose weight gold, I World recordssmashed the thefacing difficulties because not to be logging of so of the 29-year-ol surprised by in Rio Brazil been fortified that they’ve cope for the Olympics many d will from 49 towith body weights less those weighing with the by the arrival of Quadri. where his together to fight for the weights amazing lift event to make pressure at the eyeing the 72 who are equally afterthan me’’, Kehinde weight. ‘’I’m ready and of 220kg could gold said a podium finish. ‘’We’re set focussed but Quadri The secret in that category. that a strenuous exercise not be attempted want events with to go in our Nigerian will be joined spanned hours athletes. In Mexico by other to be to lose weight so as notI by performance to a podium at keeping aimed Champion knocked out Quardri. His the arrival of Abiodun teammates Bode at the World is not only in shap f by th depend pre wh hi D d

Quadri FortiďŹ es T/Tennis Squa d

I Will Deliver

Nigeria’s First Gold, Kehinde Pledges

T H I S D AY ˾ MONDAY APRIL 9, 2018

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T H I S D AY ˾ ͷ˜ ͰͮͯͶ

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THIS PUBLICATION APPEARS FOR RECORD PURPOSES LAGOS

JOHANNESBURG

OFFICIAL STATEMENT BY INTEGRATED CASH MANAGEMENT SERVICES LIMITED (ICMS) ICMS announces the following important change in the corporate status of the company.

SBV Services (PTY) Limited of South Africa has now divested its entire shareholding in ICMS to XL Management Services Limited in an arrangement that both companies consider satisfactory and consistent with their respective medium to long term strategic interests and market positioning efforts.

In effect, ICMS is now fully owned by the XL Africa Group while SBV Services (PTY) Limited is able to refocus its equity interests in the South Africa market and neighboring countries where, according to Mr Grant Dunnington, Group CEO of SBV Services (PTY) Limited, recent developments have strengthened SBV Services (PTY) Limited market leadership and placed substantial demand on the company’s limited overall capacity, necessitating resource prioritization.

Both XL Management Services Limited and SBV Services (PTY) Limited emphasize the amicable nature of the divestment process and express deep satisfaction with the professionalism and mutual respect that attended the entire process. Mr Charles Nwodo Jr. the Executive Chairman of XL Africa Group revealed that as part of the transaction, SBV Services (PTY) Limited will continue to maintain a relationship with ICMS through a Technical Management Agreement between SBV Services (PTY) Limited and ICMS to support the industry leadership aspirations of ICMS in the Nigeria market.

The necessary regulatory and statutory filings and guidelines for the divestment exercise are being complied with in Nigeria and South Africa respectively and the operations of ICMS are completely unaffected by this development.

All stakeholders including the Central Bank of Nigeria, customer Banks and Retailers and the general public are assured that ICMS remains fully focused on continuing to serve its valued customers with increased professionalism and a renewed commitment to surpass existing industry standards of customer experience in the cash operations sub sector.

Signed: For: Integrated Cash Management Services Limited Lagos Nigeria

Mr Grant C Dunnington Group CEO SBV Services (PTY) Limited Director ICMS

Mr Charles Nwodo Jr Executive Chairman XL Africa Group Director ICMS

PS: THE PARTIES ACKNOWLEDGE WITH APPRECIATION, THE ROLES OF THE FOLLOWING ORGANSATIONS IN THE SUCCESSFUL CONCLUSION OF THIS TRANSACTION; SAVVILAW LAW FIRM BANWO & IGHODALO LAW FIRM KPMG PROFESSIONAL SERVICES INVESTMENT ONE FINANCIAL SERVICES LTD STANBIC IBTC BANK PLC CENTRAL BANK OF NIGERIA, CURRENCY OPERATIONS DEPT. IntegratedCashManagementServices (Ltd)

www.savvilaw.com www.banwo-ighadalo.com www.kpmg.com www.investment-one.com www.stanbicibtcbank.com

24th April 2017

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THEME: THE JOURNEY TO UNIVERSAL HEALTH COVERAGE IN NIGERIA As Nigeria sets into motion its UHC aspirations with the launching of the Basic Healthcare Provision Fund of the National Health Act under the administration of President Muhammadu Buhari, in the second edition of its Healthcare Policy Dialogue Series, THISDAY, in conjunction with the Federal Ministry of Health (FMOH), will be hosting the Director-General of the WORLD HEALTH ORGANISATION, WHO, Tedros Adhanom Ghebreyesus to a high-level experience sharing event. The DG will be accompanied to the event by the entire senior leadership of the WHO including the African regional director who is the first woman to hold the position. He will use the occasion to launch the logo and beneficiary identification card for the Basic Health Care Provision Fund of the National Health Act.

KEYNOTE SPEAKER

CHIEF HOST

Prof Isaac Adewole

Tedros Adhanom Ghebreyesus

Director General, World Health Organisation, WHO

Min. of Health, Fed. Republic of Nigeria

KEY PARTICIPANTS

Yemi Adeola, CEO, Sterling Bank

Toyin Saraki Wife of Senate President

Dr Matshidiso Rebecca Moeti Regional Director WHO Afro

Paulin Basinga Bill & Melinda Gates Foudn.

Zainab Ahmed Min. (State) Bud. & Nat.Planning

Amine Mati, Snr. Rep & Missn. Chief IMF Nig.

Dr Osagie Ehanire, Minister of State, Health

Mohammed Malick Fall Representative Unicef

Sen. Lanre Tejuoso Chairman, Sen. Cmtt., Health

Zouera Youssoufou CEO Dangote Foundation

Rachid Benmassoud Country Dir. World Bank Nigeria

Diene Kieta Representative UNFPA

WHO WOULD BE THERE? This high level policy dialogue will bring together policy makers including members of the Federal Executive Council, parliamentarians, development partners including bi- and multi-lateral institutions, entire senior leadership of the World Health Organisation, practitioners, civil society organisations, private sector leaders, media, think tanks, academia, institutions involved in financing and delivering healthcare – Banks, HMOs, MFIs & Insurance companies.

All are invited to jointly shape and articulate the journey on sustainable Universal Health Coverage in Nigeria.

For enquiries please email: hello@thisdaylive.com For participation, please call any of the following: Lagos: Ayo Arowolo Tel: 09067059433; Ronke Macaulay: 09065827737 Abuja: Iyobosa Uwugiaren Tel: 08033143902

Date: Thurs. 12 April, 2018

FMOH

Venue : Congress Hall, Transcorp Hilton Hotel, Abuja

Time: 10:00 am

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COMMENT

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

THE POLICE AND THE SLAUGHTER SLAB Tola Adeniyi argues that the police should be adequately provided for

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y heart bleeds for the Nigeria Police, the most endangered species of government employees in the country. I have been writing and lamenting about the pitiable plight of the Nigeria police for close to 42 years, and the more I write about the police the more hopeless their situation appears. I recall that in 1976 the police in Ogun state were deserting the force in droves. The state commissioner there at that time was gentleman Chris Omeben.

He was alarmed and on prodding admitted to me that the condition of service even at that time was deplorable and very much unattractive and non-conducive to productive enterprise.

Last week several police men lost their lives to vicious and daring armed robbers who descended on Offa, probably the second largest town in Kwara State. I understand the robbers had a field day lasting over three hours unchallenged. The police, out-numbered, out-gunned, and certainly badly equipped and ill-motivated were no match for the heavily armed marauders. The police in the whole city of Offa were just like sheep tied to the post for sacrifice.

I am aware that the police are not particularly happy with their superior officers upon whom they heap their frustrations. I will help such unfortunate and frustrated police men and women today by making public their curses. It is not their bosses who should be cursed. It is their employers. And I say today that all those who have been responsible for the poor plight of the Nigerian Police men and women should never know peace in their life time. I invoke the powers in the Bible and the Quran which these hypocritical rulers flaunt about that their children, their husbands and their wives should suffer the misfortune of the Nigeria Police! They should be exposed to dangers which the Nigeria police face day and night at their duty posts. They should look for mercy and find none! And they should be visited with untimely and cruel death as our police are usually confronted with in the hands of murderous criminal elements in the society.

We have been crying for community policing. We have been begging for decentralisation of the Nigeria Police Force. We asked for a return to local, state and regional police formations as we had in the first republic.

But stiff necks who decide the fate of Nigerians would not bulge. We asked for increase in personnel. We demanded better training, better recruitment policy, better and more modern arms, better conditions of service and more conducive atmosphere and more decent accommodation and motivation for the police; all our pleas fell on deaf ears.

Any time you pass by the police on our highways or in dark alleys in cities, towns and villages, their appearance evokes pity. You look at them as animals of prey about to be devoured by armed robbers, kidnappers or ritual killers. Their weapons belong in the Stone Age. They look dejected and impoverished. Their pay packet is pittance. They look so beggarly and lacking in needed self-confidence to combat their attackers.

How can Nigeria government think that this country of 193 million citizens can be policed by a miserable 400,000 policemen and women?

And to boot, half of that number are engaged in keeping watch over private individuals, companies, banks, hotels and even engaged in boy-boy service to some wealthy individuals in society. Lagos State alone with World Bank estimated population of 25 million people requires more than 0.5 million police to keep the state safe. And yet we have more centres of large populations like Ibadan, Kano, Abuja, Oyo, Ile-Ife, Osogbo, Ilesa, Ede, Bida, Kaduna, Port Harcourt, Enugu, Aba, Sagamu, Maiduguri, Abuja, Abeokuta, Ijebu-Igbo, Onitsha and Sokoto to mention a few to contend with.

The state governors have no say in the security and safety of the citizens who voted them to power in their respective states. They are

ANY TIME YOU PASS BY THE POLICE ON OUR HIGHWAYS OR IN DARK ALLEYS IN CITIES, TOWNS AND VILLAGES, THEIR APPEARANCE EVOKES PITY. YOU LOOK AT THEM AS ANIMALS OF PREY ABOUT TO BE DEVOURED BY ARMED ROBBERS, KIDNAPPERS OR RITUAL KILLERS

called chief security officers of their various states; but that is only in name. The police in the state are answerable only to the InspectorGeneral of Police who in turn is answerable to the Czar in Aso Rock, a misnomer peculiar to only Nigeria of all the countries of the world! Let all governors design and decide their state policing and security.

And the frequent slaughter of the men and women of the police force does not seem to bother the authorities in Abuja. Police men and women bid their loved ones good bye every morning without any guarantee that they would ever return to the loving embrace of their spouses, mothers and fathers, or sisters and brothers. And those who employ them and ill-equip them tend to forget that a police man has wife or wives, or the police woman has husband and children. All those who take decision or refuse to take decisions about the plight of the police should always remember that these gallant men and women are human beings too.

Let’s face it, but for the huge sacrifices of our police, crime rate in Nigeria would have hit the roof given the level of mass unemployment, crushing mass poverty, the death of education, the irritating display of shameless opulence by the rogues in our midst, and the godlessness of the Church and Mosque people masquerading as quick-fix messiahs.

There are few bad eggs in the Police as there are in all facets of the Nigerian life, but by and large the Nigeria police are still about the best and most efficient compatriots in the land. The state has taken advantage of them. They did not share in the alleged Dasuki largesse. They were not indicted in the Boko Haram arms purchase scandal. They are just there, like donkeys, used and misused, abused and discarded at will. And yet come rain come sunshine, come day and night, come shivering cold and burning sun, the police are there waiting to be devoured by beasts in human skin. Discouraged and unrewarded, the Nigeria police remain the most endangered species on the march to the slaughter slab, unarmed!

The unitary government we practice must urgently take a hard look at the poor plight of the police and arrest the situation before it is too late. Allowing the Military to usurp their constitutional role as evidenced by happenings all over the country especially in the face of the terrorism of armed herdsmen bandits is not the solution.

This writer is not unaware that we are actually under a military rule, however disguised; the place of the police can never be taken by the military. We should quickly go back to the drawing board and those who chose to weaken the police or out rightly kill the police so that the military can be assigned to carry out political hatchet job should do a rethink. Nigeria is fast gliding into anarchy especially if the police are rendered ineffective and can no longer perform their constitutional responsibilities. And should that be the ulterior design of those who are bedraggling our police, they should at least stop making them sacrificial lambs in the face of armed robbers and kidnappers’ superior fire power.

The Nigeria Police are human beings too, and as said repeatedly, they have fathers, mothers, husbands, wives and children.

And those who are profiting by this unwholesome arrangement, may they never know peace in their private lives, and may their loved ones also be turned into sacrificial lambs just the way our police are routinely gunned down by marauders while on duty.

Government must pay handsome compensation to families whose children/husbands/wives/parents have paid the supreme sacrifice while serving their fatherland and protecting the lives of others. That is the least we can do to ensure that their lives were not lost in vain!

Adeniyi is a former Managing Director of Daily Times

NIGERIA’S DEVELOPMENT WITH BILL GATES AND OKONJO-IWEALA The Nigerian government should invest more in people, health and education, writes Adele Adeniji

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n 2050, it is estimated that Africa will have over 600 million youths. This will form the bulk of its population and many pundits are scared to death that, with the current afflictions of Africa, this incredible amount of raw energy could be a ticking bomb for the continent. And if this is seen in any way as a ticking bomb, Nigeria should be more worried as it will have the youngest crop of the continent’s youth population. The logical sequence is to question if Nigeria is prepared for this eventuality.

Recently, Bill Gates looked at Nigeria’s development plan and passed a vote of no confidence in its ability to lift the country out of poverty and ensure economic prosperity for the vast majority of Nigerians. In his address to the expanded National Economic Council, the former world’s richest man pointed out critical areas in need of improvement in Nigeria’s development plan. He said, “The Nigerian government’s economic recovery and growth plan identify investing in our people as one of three strategic objectives. But the execution priorities don’t fully reflect people’s needs, prioritising physical capital over human capital. People without roads, ports, and factories can’t flourish. And roads, ports and factories without skilled workers to build and manage them can’t sustain an economy�.

It is saddening that the government, rather than

critically look at this piece of advice, coming from a renowned business mogul who has invested over $1.6 billion in the country without any party affiliation, went on the defensive, calling his analysis incorrect. But the billionaire will not be cowed as he recently told the CNN that he still holds on to his opinion that the Nigerian government is not doing enough. “As a partner in Nigeria, I am saying the current plan is inadequate. Nigeria has all these young people and the current quality and quantity of investment in these young generations; in health and education just isn’t good enough. So, I was very direct, if they can get health and education right, they will be an engine of growth not just for themselves but for all of Africa�, he told CNN. Interestingly, it is not only Bill Gates who has expressed the pivotal role Nigeria has to play in the liberation of the continent from poverty. Dr. Ngozi Okonjo-Iweala mooted a similar opinion in a recent presentation at the Duke University lecture series on ‘Rethinking Development’. The former finance minister said Nigeria being one of the largest economies in Africa, with a 30% Gross Domestic Product of the continent’s economy, has to get it right for the rest of the continent to get out of poverty as its prosperity will rub off on the other sub-Saharan countries.

Like Bill Gates, Dr. Okonjo-Iweala had expressed the need for inclusive growth in the continent. This

is something that has eluded this government and even previous administrations. Inclusive growth is a growth that benefits everyone, leading to a more prosperous economy and equitable society.

This term was popularised in the 2000s when the World Bank found to its dismay that their economic predictions were flawed as nations experienced growth without a concomitant reduction in inequality or an improvement in the standards of living. Nigeria has experienced growth but this has hardly impacted the vast majority. Therefore, this government has to ensure that whatever economic plan it is implementing makes growth more inclusive and doesn’t leave many stuck on the margins of existence. As Dr. Okonjo-Iweala rightly said, poverty is bad for growth as no nation should be proud of growth that does not reflect on the masses. Her opinion is crucial to the repositioning of Nigeria’s development.

Another area they both agree on is the role of education in the development of any nation. Bill Gates’ address emphasised the need to prioritise education as this is the foundation of sustained prosperity. This is also a talking point in the lecture delivered by Dr. Okonjo-Iweala at the Duke University lecture series. The former finance minister was particularly concerned about female education and the reverberating effects their education have on the household and the country at large. She bemoaned

the 90% female illiteracy in the North, stating emphatically that this is something the government should be looking at.

As it is, female illiteracy in the North is likely to stay the same for a while since the insurgents have decided to turn them into pawns in the war against the state. The Chibok girls have not been totally returned and the recent abduction and return of some of the Dapchi girls is a blow to female education in that region. In this light, the government should consider what Dr. Okonjo-Iweala did as minister of finance by fixing a plan for gender budgeting that will ensure that the female child in the North is not left behind in the name of insurgency. In the case of Dr Okonjo-Iweala, her gender financing covered a wide range of vulnerable women.

Above all, the Economic Recovery and Growth Plan should consider driving innovation, creativity and productivity with fiscal responsibility. The rising debt profile of the country is something every Nigerian should be worried about. Former US Secretary of State, Rex Tillerson’s warning to Nigeria and other African countries about their mounting foreign debt is food for thought. The government has to ask itself if the loans are creating jobs for the teeming young men and women or it is storing up huge economic burdens for them.

Adeniji, a Public Affairs Analyst, wrote from Port Harcourt.

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EDITORIAL STILL WAITING FOR THE BUDGET The delay in passing the 2018 appropriation bill bodes ill for the economy

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ike last year when the 2017 Budget remained a subject of speculations for months, there is also no sign when the 2018 Budget will become operational. While the controversy last year was about who would sign it into law in the absence of President Muhammadu Buhari, then on medical vacation in the United Kingdom, the current challenge is about the uncertainty as to when the budget will actually be passed by the National Assembly.

To demonstrate how far behind the 2018 budget is, the details are still being defended. Last Thursday, the lawmakers faulted the proposals by the Council for Freight Forwarders of Nigeria (CRFFN) and National Inland Waterways Authority (NIWA). According to the Senate Committee on Marine Transport, there is need for CRFFN to explain the N800 million listed in both the 2017 and 2018 budgets for the purchase of security equipment at the borders while the N2.7 billion estimated for the purchase of dredgers and accessories by NIWA CAPITAL PROJECTS was considered WHICH ARE CRITICAL outrageous.

FOR DEVELOPMENT While it is CANNOT BE EXECUTED unfortunate that SINCE CONTRACTUAL the buck passing AGREEMENTS CANNOT between the executive BE INITIATED WITHOUT and legislature is a BUDGETARY APPROVAL recurring decimal, it is important for both to come together to ďŹ nd a workable solution at critical moments such as this. The Head of Research at BudgIT Nigeria, Mr Atiku Samuel attributed the delay to the absence of a budget calendar and lack of coordination and planning by both parties. We agree with him.

According to Samuel, during the budget formation phase, the executive and legislators and other stakeholders should have been consulted to reach a compromise on all issues. “However, not much is done by the executive to carry the legislators along. As such, issues on the budget framework, lack of details,

frictions between the legislators and executive and how the legislators’ process information differs from how the executive processes information. In all, the lack of coordination cumulates into a bigger issue that has delayed the passage of the budget among other issues�, said Samuel.

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T H I S DAY EDITOR

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EDITOR NATION’S CAPITAL

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hile discrepancies in ďŹ gures between the legislative and executive arms are normal and need to be addressed, we disapprove of the time it is taking to arrive at the 2018 budget. The message such tardiness sends is that those in positions of authority in both the executive and the legislature in our country do not exude as much care as is required due to the fact that they are never adversely affected by the delays in the passage of budget.

To the extent that a budget provides ďŹ nancial control and serves as the basis against which developmental activities can be monitored, the current delay suggests that the Nigerian economy is not operating optimally. First, capital projects which are critical for development cannot be executed since contractual agreements cannot be initiated without budgetary approval. Second, following the fact that capital projects cannot be executed, contractors cannot be paid and other businesses which provide services directly or indirectly to the contractors are affected by the squeeze. This leads to cyclical unemployment and a dwindling in some small businesses. For instance, the itinerant hawker who hitherto provided food to labourers at a construction site may be out of business whilst projects are delayed. Third, the economy contracts at a rapid pace due to the liquidity squeeze.

And four, since the government intends to borrow to fund recurrent and other essential expenditure which is in itself not prudent, this unnecessary delay can only hamper all the projections.

No matter the spin ofďŹ cials put on the issue, emerging facts suggest that the nation’s economy may actually be in dire straits and unless something is done urgently, beginning with the passage and commencement of implementation of the 2018 budget, we may sinking into deeper trouble.

TO SEND EMAIL: ďŹ rst name.surname@thisdaylive.com

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THE BLURRY LIST OF LOOTERS

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he second list of looters has been released. The names are pretty much the same with what every Nigerian knows since 2015. In fact, the names of virtually everybody in the list are in court. The federal government verdict on persons on the lists as guilty before court declare its judgment is not the problem, but names of missing usual suspects have rubbished the purpose of the release. It is difficult to convince people the intention of the release is not another scheme for All Progressives Congress to take the lead in 2019 elections. The absence of many former Peoples Democratic Party politicians now in the ruling party who are complicit in looting spree has made the list empty of substance. Those trying to politically prepare President Mohammadu Buhari for 2019 with shallow, hollow publicity stunts are indeed his enemies. The recent Martin Luther King “award� only complicates things for the president.

The so-called lists of looters is indeed another distasteful episode in the unending drama where “lovers� of Buhari are seen trying hard to score points for him ahead of 2019 election. The list is skewed, featuring only opposition members who fed fat from the previous administration looting fiesta. Also missing in the lists so far released are APC members who were caught hands deep in fraud since 2015 in the “Change� administration. Once again, the ruling party has put its neck through the hangman’s noose as Nigerians wait to see those who would feature in subsequent lists. They are wielding names of

ex-PDP alleged looters who are presently occupying top government positions in this administration and want them included in the next batch. Nigerians will not forget how the grass cutter scandal and many others were almost swept under the carpet. Those who love Buhari are indeed making 2019 more difficult for the president with the drivel they throw to the public. The Buhari-led government underestimates rational, analytical thinking capacity of Nigerians – that is where they get it horribly wrong. What is the use of war on corruption when the government stinks of corrupt officials?

Loyalists of the president have failed to realise that propaganda, blackmail can work for a political party in opposition, but not for a ruling party. Government is expected to show their worth in fulfilling campaign promises and not to stage-manage part of a story to represent everything – which they have failed to achieve with the release of lists of looters. The Joseph Goebbels of this administration have practiced the art of propaganda so badly, they cannot draw the lines to limits of what they dish to the public. They didn’t realise that Nigerians are aware of documents indicting APC politicians or “repentant� PDP politicians now in the ruling party. Why is it so difficult to investigate them? Once Nigerians attempt to probe into matters involving FG, those who love Buhari more than Nigeria will react aggressively. One of Buhari’s aide called Nigerians “animals�, the other who is a minister proposed the deregistration of PDP. They have forgotten how they freely made Jonathan suffer physical insults when they were in opposition – at least people are respectful to

Buhari despite. In fairness to Nigerians, critical opinions expressed in this administration are based on glaring wrong turns. Sadly, Mr. President is usually not aware of the harm they are causing him.

He has become a prisoner to his loyalists who are fragmented, uncoordinated and desperate to profess their love in the race towards making Nigerians accept him again for 2019.

The recent Martin Luther King hoax reflects on the level of competition among Buharis lieutenants. It also expresses the level of desperation on account of waning goodwill. While those on social media talk or write tirelessly, fighting and cursing, those who are in government with access to public funds are working tirelessly in finding and paying the next ‘mascot’ to tacitly endorse Buhari for a second term. For the love of Buhari, unrepentant loyalists fail to understand that Nigerians will not buy staged endorsements by individuals who know nothing of our political clime. The most valid endorsement, which would have gone a long way in laundering the waning image of the president, has become irretrievably lost. His military peers and some prominent socio-cultural groups in the north have lost confidence in him.

Buharists spent so much time criticising and blackmailing the immediate past government instead of working the mills to steer Nigeria back from fringes. Bringing heavily bribed individuals to endorse Buhari is like using heavy make up on an old woman, she can only last as bride until the make up comes off her face.

Israel Ebije, ebijeo5@gmail.com

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Ecobank Transnational Incorporated th 30 Annual General Meeting Notice of Meeting Notice is hereby given that the thirtieth Annual General Meeting of Ecobank Transnational Incorporated will be held at the Conference Centre, the Ecobank Pan African Centre, 2365 Boulevard du Mono, LomÊ, Togo, on Tuesday, 24th April 2018 at 10.30am to transact the following business: 1. Approval of the accounts 2. Appropriation of the results 3. Renewal of the mandates of directors 5DWL½FDWLRQ RI WKH FR RSWLRQ RI GLUHFWRUV 5. Renewal of the appointment of the joint auditors Any shareholder may attend and vote at the meeting or appoint one proxy to so do on his/her behalf.

All relevant documents in connection with the meeting are available to all shareholders from WKH GDWH RI WKLV QRWLFH DW WKH 5HJLVWHUHG 2I½FH RI WKH &RPSDQ\ DW WKH DGGUHVV DERYH DV ZHOO as on the Company’s website (www.ecobank.com). Shareholders who wish to receive the electronic version of the 2017 Annual Report may send a request to AGM@ecobank.com Dated this 21st day of March 2018.

By Order of the Board of Directors,

Madibinet Cisse Company Secretary

ecobank.com

T H I S D AY ˾ MONDAY APRIL 9, 2018

17

Birthday Sijibomi “Suji” Ogundele

The entire Sujimoto family wishes to congratulate our amiable CEO - Mr. Sijibomi Ogundele on this special occasion. Like the Iroko tree, you shelter us under the branches of your generosity, kindness and motivation. By drawing business inspiration from the Blitzkrieg principle, you disrupt old business terrains with innovative ideas.

Pride of Ilesa, Real Estate Icon, may you continue to grow from strength to strength.

Nothing else in this world brings me more joy and satisfaction than the knowledge that I have a strong impact on the lives of the people around me…

Many Happy Returns.

1 + 1= 11 This is not Mathematics, This is Motomatics

Signed: The Sujimoto Family

Leader

Trailblazer

Real Estate Expert

Lawyer

Motivator

Philanthropist

Inspiration

Passionate

Zealous

T H I S D AY ˾ MONDAY, APRIL 9, 2018

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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

Will Corruption Decide 2019 Elections?

After coming into power with a promise to be tough on sleaze, the All Progressives Congress is again trying to make corruption the issue in the 2019 elections. Tobi Soniyi wonders if the strategy will work this time

I

n 2015 many voted for Muhammadu Buhari because he promised to run a clean government.

Then the Peoples Democratic Party was seen as a party that condoned corruption.

However, almost three years as president, Nigerians are beginning to doubt the president’s commitment to the fight corruption.

Graft remains pervasive among institutions of government. From police to immigration and to customs, it is business as usual.

This explains why it was only the government and its apologists that were surprised by the abysmal performance of the country in the Transparency International’s Corruption Perception Index According to the Transparency International, the perception of corruption in Nigeria worsened between 2016 and 2017.

TI’s Corruption Perception Index ranked Nigeria 148 out of 180 countries assessed in 2017 on the perception of corruption.

The index showed that out of 100 points signalling maximum transparency and no corruption, Nigeria scored 27 points.

The results show a slight deterioration in perception of corruption in public administration in Nigeria compared to 2016.

In 2016, Nigeria scored 28 points and ranked 136th in the ranking of countries.

With the one-point reduction in the score, Nigeria slipped in the country-ranking by 12 positions, from 136 in 2016 to 148 in 2017.

Despite the government’s unimpressive record in the fight against corruption, it has lately been hitting the PDP with a barrage of accusation of corruption and trying to portray itself as better in terms of corruption.

Unfortunately, the PDP appears to have fallen for the trap.

It all started when the National Chairman of the People’s Democratic Party, Uche Secondus issued an apology to the public on behalf of his party.

Speaking at a national discourse on ‘Contemporary Governance in Nigeria’, Secondus said : “I hereby, as the National Chairman, do admit that the PDP made a lot of mistakes; we are humans, not spirits and the ability to admit is key in moving forward. “We admit that we have made several mistakes; we have passed through all our challenges and have acquired the experience no other party can boast of. “We were sanctioned by Nigerians at the polls in 2015; let me use this opportunity to apologise for our past mistakes.

“It is the honest thing to do, a legacy to transfer to our children; we cannot continue like that.

“When we make mistakes, we should come out boldly to the people and apologise.

“It is important to do so because we have learnt from our mistakes unlike the All Progressive Congress (APC) that will make mistakes and lie to cover it.

“We apologise to Nigerians that we have made mistakes, we have learnt our lessons and we are ready to begin on a new agenda; experience is the best teacher, no other party has it.”

After the PDP issued the apology, the federal government, specifically the Minister for Information, Lai Mohammed attacked the PDP saying that apology was not enough and that the party should return all the money it stole.

Mohammed said: ‘’The PDP presided over an unprecedented looting of the public treasury, perhaps the worst of its kind in Nigeria or anywhere else in the world. Therefore, the best evidence

Mohammed..promises to release more names

of penitence for such a party is not just to own up and apologize, but to also return the looted funds. Anything short of that is mere deceit. ‘’Returning looted funds will provide more money for these programmes and make life more meaningful for Nigerians. There is no better apology than that.”

Thereafter, the Vice President, Prof. Yemi Osinbajo made damaging allegations against the government of Dr Goodluck Jonathan and the PDP. He said the former president shared N150 withdrew from the treasury three weeks before the 2015 general elections.

However, Jonathan’s former aide, Reno Omokri said the allegation was untrue. He then challenged the vice president to make public any any evidence in his possession to prove allegations of embezzlement by Jonathan.

Omokri said, “On this most recent allegation by Vice President Osinbajo, let me state categorically that former President Jonathan did not share 150 billion two weeks to the 2015 election.

For the federal government to label as looters, persons who are undergoing trial over corruption allegations is totally irresponsible

“If professor Osinbajo has proof that former President Jonathan did so, then we challenge him to publish his proof. He is a professor of law and ought to know that he who alleges must prove.”

National Publicity Secretary of the PDP, Kola Ologbodiyan, also accused Osinbajo of not being bold enough to mention names of those he claimed stole public funds.

Ologbondiyan said the vice president was only fond of bandying figures he could not trace to a personality in the PDP. In response to the challenge, the Minister for Information and Culture, Alhaji Lai Mohammed released the names of six individuals whom he said participated in the looting of the nation’s treasury.

Later, government released additional 21 names of people it alleged looted the treasury.

The minister said: “The PDP has challenged us to name the looters under its watch.

“They said they did not loot the treasury “Well, I am sure they know that the treasury was looted dry under their watch.

“Yet they decided to grandstand. This shows the hollowness of their apology to Nigerians.”

The minister said: “We insist that Nigeria was looted blind under the watch of the PDP, and that the starting point in tendering an apology is for them to return the loot.

“It’s like a robber admitting to stealing your car and apologizing, but then saying he will keep the car anyway. It doesn’t work that way.”

The PDP fired back. Former president Jonathan also fired back. His aide Omokri said he took the pains to produce a ‘teaser’

looters list of APC members who were collectively alleged to have looted over $2 billion and challenged President Buhari and the Information Minister to explain why these men did not feature on their list.

The former presidential aide also sought to know why these alleged looters have continued to remain in the APC government where they wield immense powers and influence, even over the Economic and Financial Crimes Commission (EFCC) that is meant to prosecute them.

Issues Arising from the Release of Looters List Since many of those on the list are already going through trial in different courts, the federal government should have allowed the courts to do their work. Is the government, which is the prosecutor, trying to influence the course of justice by creating bias in the mind of the judges?

A Senior Advocate of Nigeria, Chief Ferdinand Orbih has rightly observed that the release of names of alleged looters, who are still on trial at different courts was totally irresponsible.

According to him, such people who are still undergoing trial over corruption allegations are presumed innocent until the cases against them are proven as enshrined in the constitution.

He said: “For the federal government to label as looters, persons who are undergoing trial over corruption allegations is totally CONT’D ON PAGE 19

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POLITICS

MONDAY DISCOURSE WILL CORRUPTION DECIDE 2019 ELECTIONS?

Femi Fani-Kayode..denies any wrong doing

irresponsible.

“Such persons are presumed innocent until proven otherwise, by the Constitution, which the president swore to uphold.”

According to him, it does appear that the federal government does not understand what the rule of law entails or the dynamics of due process.

“The case against Nenadi Usman is still pending in court. The federal government that has labelled her as a looter of public funds is yet to prove the allegations against her in court.

“The government by taking this matter to the court of public opinion is making a strong statement either that it has no confidence in the process it initiated in court, or it is calculated to arm-twist the judiciary to convict at all costs.

“Either way, the publication by the government portends grave danger to democracy and the rule of law. Surely, there will be a legal response to this executive gross misbehaviour,” said Orbih.

A former aviation minister, Chief Femi Fani-Kayode, who was listed among the looters rejected the allegation.

A lawyer, Fani-Kayode stated clearly the implication of labelling people on trial as looters.

He said: “It is a crude and sordid attempt to intimidate the judges and influence the outcome of the cases which are before them and also to compel them to give the judgement that the government wants. This is not only unacceptable but it is also shameful.

“It is a clear violation of the concept of separation of powers which gives the judiciary alone the power to determine the guilt or otherwise of an accused person.

“It is trite law that only a court of law can declare a man guilty or declare him a thief or a looter and not Buhari and his government.

“How can anyone get a fair trial in a country when the government has already pronounced them guilty before the world?

“You cannot be the investigator, accuser, prosecutor and judge in your own case. This is a basic principle of criminal and constitutional law which appears to have been lost on President Buhari and his cohorts.”

For a government that is desperately looking for a way to secure the conviction of those it arraigned for corruption, going to the press with the names of such people is a wrong step. For one, the government has just given them another basis to object

Reno Omokri...allegations against Jonathan are lies

to the trial. By challenging the government’s action, the trial will be delayed and any hope that the courts will conclude the trial on time is dashed.

Legal issues aside. The federal government should have allowed the party that brought it to power to do the dirty job. The APC should have been the one playing politics with the fight against corruption and not the federal government.

In his article, ‘To kill 29 birds with two stones’ Editor-in-Chief of The Interview, Azubike Ishiekwene puts the issues in perspective when he said: “The APC has no one but itself to blame for the back-and-forth with the PDP over the “lists of looters” it released last week.

“After the bazaar of the Jonathan era, that there’s any argument at all about who was named or omitted in the lists of whostole-what, is a sign of how badly President Muhammadu Buhari’s government has performed; it’s a sign of deep, self-inflicted injury. And to imagine that the government of Buhari had to release the list drip-drip at gunpoint!”

He noted that the courts had in the past ordered the government to release the list but government failed to comply.

He said: “In July last year, Justice Hadiza Rabiu Shagari, ruled, in a suit by the SocioEconomic Rights and Accountability Project (SERAP), that Buhari’s government should tell Nigerians the circumstances under which looted funds had been recovered since it assumed office, from whom, and exactly how much had been recovered. Nothing happened.

Despite the attempt by the present administration to decimate the Jonathan’s administration, Nigerians are more receptive to forgiving him. Afterall, Jonathan’s government did not claim, or even pretend, that it was fighting corruption. Neither were the people this hungry

“On another occasion, a court had also ruled that the government should publish the list of treasury looters since 1999 and disclose to the public the amounts recovered.

“If the government had immediately complied with the rulings of the court or agreed to the common sense advice to publish periodic records of the status of the account and the account names, it won’t be fighting back at a time of low public confidence. But it simply ignored advice and decided to hug the list on the excuse that full disclosure was not in the public interest.”

Like PDP, Like APC Apart from recovery of funds by the EFCC, there is no other indication to prove that this government is different from the one it is seeking to crucify. Anyone who is in doubt should walk into a police station or immigration office and observe what is going on there.

The damming report jointly released last year by the National Bureau of Statistics and the United Nations Office on Drugs and Crime clinically chronicled the corrupt acts going on in the county. This government that swept to power with a promise to fight corruption had no answer to the issues raised by the report.

Then came the Transparency International’s perception index. It confirmed what Nigerians already knew.

In Nigeria, going by the records, the biggest corruption takes place at the Nigerian National Petroleum Corporation. Anyone desirous of stopping corruption must start by reforming the NNPC. This, our president has fallen short of doing.

Again, listen to Ishekwene, “In 2015, Buhari said he had ordered “a complete audit” of NNPC among other revenue generating agencies, “for better service delivery to the nation.”

“Except if rodents have eaten the audit report, I’m not aware that the words have left the page since the President made them three years ago.

“If anything, the NNPC under Buhari has not only become more opaque, claiming immunity from the FOI law. It is under executive instruction to retain an unknown and unknowable percentage of its revenue in an account known only to a few, including the Chief of Staff.

“That is not fighting corruption and even a list twice as long as Lai’s Roll Call does not justify running the NNPC in a man-

ner less transparent than it was run under Jonathan. And yet the names of those doing the damage will never appear on any long or short list – at least not under Buhari.”

Not done, he said: “How a government whose single greatest promise was to fight corruption has been enmeshed in a fruitless argument over whether or not it is more corrupt than its predecessor is one of the most embarrassing legacies of the Buhari administration.”

Despite the attempt by the present administration to decimate the Jonathan’s administration, Nigerians are more receptive to forgiving him. Afterall, Jonathan’s government did not claim, or even pretend, that it was fighting corruption. Neither were the people this hungry.

According to Ishekwene, the former president was clear that there was a difference between stealing and corruption and that sticker was conspicuously displayed at the executive floors of the NNPC Towers, Abuja, where the Minister of Petroleum Resources, Diezani Allison-Madueke, shared the PIN numbers of the country’s treasury with members of the ruling party.

Time to Look Inward If this administration is serious about the fight against corruption, it should stop running after PDP. First, the government can start by clearing the mess on its table. The handling of the money recovered from Ikoyi is less than satisfactory. The former Secretary to the Federal Government, Babachir Lawal is having fun. A government that detests corruption would not be looking at the other side while someone like Lawal and Ambassador Ayo Oke remain ‘unprosecutable’.

It is difficult to convince the people that you are fighting corruption, when those who should be facing charges such as the Executive Secretary of the National Health Insurance Scheme, Professor Yusuf Usman are allowed to remain in office.

Secondly, the federal government should review the joint report of the National Bureau of Statistics and the United Nations Office on Drugs and Crime as well as that of the Transparency International. It is not too late to admit the fact that we have not done very well. It is also time to stop blaming others.

The argument that people are hungry today because of the misrule of past government is beginning to sound hollow. Some of the policies put in place by this government are as to blame as well.

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

Unending Killings in Kaduna John Shiklam writes on the recent slaughter of 11 soldiers in Birnin Gwari Local Government Area of Kaduna State by armed bandits and the unending criminality that has made life a nightmare for communities in the area

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t was a pensive and sorrowful atmosphere at the Commonwealth Cemetery, Kaduna, penultimate Thursday as the remains of the 11 soldiers killed by armed bandits in Kompanin Doka Village, Birnin Gwari Local Government Area of Kaduna State were laid to rest.

Top military officers and relations of the deceased soldiers arrived the cemetery by 10 a.m. to pay their last respect to the soldiers who laid down their lives in the defence of Nigerians against criminals that are terrorising communities across the country.

They were cut down in their prime, less than a year after joining the Nigerian Army.

The deceased soldiers aged between 19 and 23, were identified by the army authorities as Ahmed Olabode, Bamidele Adekunle, Christian Ogochukwu, Adamu Mohammed and Lamara Ahmed.

Others are Suleiman Mubarak, Bashir Sani, Usman Abubakar, Nafiu Iliyasu, Safiyanu Ahmed and Alhassan Ibrahim.

They were part of the military operation codenamed ‘Ayem Akpatuma’ which commenced on February 5, 2018, to combat the security situation in Kamuku Forest and its environs as well as curtail the activities of armed robbers, kidnappers and cattle rustlers.

On Tuesday, March 20, 2018, the bandits invaded their camp at about 8 p.m. to 9 p.m. killing 11 of them while four others were said to have been wounded.

The soldiers were said to be among a detachment of troops deployed to the area to provide security for expatriates and construction personnel working on a new road linking Zamfara State with Kaduna through Dansadau-Dangulbi in Zamfara and Birnin Gwari in Kaduna.

Work on the road was said to have been suspended in 2017 following the abduction of one of the foreign engineers working at the site by unknown gunmen, though he was later released.

For years, bandits have been terrorising the Birnin Gwari communities and travellers so ruthlessly as they robbed, killed, kidnapped, raped and rustled cows.

Their deadly activities and the seeming inability of the security agencies to contain them have led to the decline of socio-economic activities in the area as the communities live under a reign of terror.

Speaking at the funeral ceremony of the soldiers, the General Officer Commanding (GOC) 1 Division of the Nigerian Army, Kaduna, Maj. Gen. Muhammad Muhammad, showered encomiums on the deceased soldiers.

Muhammad said the deceased soldiers who joined the army barely a year ago were full of life and ready to serve the country.

The GOC said the soldiers were yet to meet their families to even show them their military uniforms when they were cut down.

He said the funeral was a solemn occasion that does not require much speech.

The GOC said, “On the morning of March 20, 2018, the very able men, stood out to assist this country, they came into this job barely a year ago full of life to give their service to this country.�

He lamented that since the dead soldiers told their relations that they had joined the army, many of them were yet to go back to their relations after their military training to show them the uniforms they were given in the army. “That is the sad thing about this occasion.

Now they have paid the supreme sacrifice to defend the territorial integrity of this country. “They shed their blood in the community of Birnin Gwari in Kaduna State. The soldiers were trained for about six months and were taken for further training to add value to them, only for their dreams to be cut short,� the GOC lamented.

Muhammad assured that the Nigerian Army

Maj. Gen Muhammad eulogising the late soldiers

Families and relations of the late soldiers paying their last respects

will not relent in fishing out those behind the killings and bring them to justice. “We assure the Nigerian community that the peace of this country, we will guarantee it. “We found ourselves today as first respondents, we will not shy away from it. We will continue to do our duties diligently regardless of any shortcomings, regardless of issues like this,� the GOC said.

While consoling families and relations of the late soldiers, Muhammad urged them not to discourage their other children who may wish to join the army because of the incident.

Also speaking at the funeral ceremony, the

They shed their blood in the community of Birnin Gwari in Kaduna State. The soldiers were trained for about six months and were taken for further training to add value to them, only for their dreams to be cut short

Kaduna State governor, Mallam Nasir el-Rufai regretted the death of the soldiers.

The governor who donated N500,000 each as assistance to the family of the deceased soldiers said the state government was pained by the killing of the soldiers.

El-Rufai, who was represented by the Secretary to the Kaduna State Government (SSG), Balarabe Abbas, said “It is with heavy heart and regrets that I stand in your midst to express our heartfelt condolences to the families of 11 soldiers who lost their lives in action at Kompani Doka in Birnin Gwari Local Government Area of Kaduna State. “It is quite a tragedy, we have been mourning since we received the sad news. The military has been assisting us in the area of security in the last two or three years since we came. “We have had so many operations in that area to stop the banditry in the Birnin Gwari area, kidnapping, armed robbery, cattle rustling and the rest of them. So it is a big tragedy,� the governor said.

He said further that “the soldiers fought gallantly in securing our lives, they paid the supreme price in the process while three others were also wounded during the attack by the bandits.�

The governor, while presenting a cheque of N5.5 million to the GOC for onward delivery to the families of the deceased soldiers, commended members of the armed forces and other security agencies for the support they have been giving to the state government in

tackling security challenges. “May God grant the families of the deceased and the Nigerian Army the fortitude to bear the irreparable loss.

On our part, we will not relent in efforts to work with security agencies to fish out the bandits and bring them to justice. “We want to support the next of kin of these soldiers. We know the Nigerian Army will do their own part.

The Kaduna State Government is giving the sum of N500,000 to each of the families of the deceased soldiers,� he said.

Some relations of the late soldiers who spoke in an interview during the funeral amidst tears said they never set eyes on their children after their training till their death.

One of them, Sani Liman Kila, a relation of late Kamara Ahmed, said he was devastated by the death of his brother. “He was a very young man, very vibrant and hardworking. He died barely two months after he passed out from the Nigerian Army Depot, so it is very sad and painful,� Kila said.

According to him, the deceased “spent only one day at the place he was posted� before he met his untimely death. “If you observed, all of them were fresh intakes into the army, it is very shocking. We are devastated but there is nothing we can do than to pray for the repose of his soul,� he said.

Franklin Ogochukwu who also mourned his late younger brother, Christian Ogochukwu,

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FEATURES

said he never wanted his brother to join the army, but people mounted pressure on him to allow him.

He said they were orphans and as the senior, he was the one struggling to bring them up adding that he wanted the deceased to pursue his education since he was a very brilliant boy. “But when he couldn’t get admission to the university, he told me he wanted to join the army. I told him to keep on trying, but he said he wanted to join the army. “When I kicked against the idea of him joining the army, a neighbour came to plead on his behalf, asking me to allow him to join the army.

It is sad that he ended up in a tragic manner,� he said amidst tears.

For years, the Birnin Gwari area has become a stronghold for bandits who terrorised communities in the area with ruthless abandon.

They invaded communities, robbed, killed, raped and rustled cows. Travellers plying the Kaduna - Lagos highway have also been worst hit by the activities of these bandits who appear to have defied all security strategies.

Their deadly activities and the seeming inability of the security agencies to contain them have led to the decline of socio-economic activities in the area as the communities live under a reign of terror.

One of the daring attacks by the bandits was in 2013, when the hoodlums bombed branches of two major banks in Birnin Gwari, the headquarters of the Birnin Gwari Local Government, killed some policemen guarding the bank and made away with huge sums of money.

It was learnt that many villages in the area often came under siege.

According to a source in Birnin Gwari, sometimes the bandits sent letters to communities demanding for sums of money ranging from N250,000 and above or risked being raided.

The communities have had to levy each other to raise whatever they can afford to beg them.

The source said any community that fails to raise money for the bandits or alerts security agencies faces devastating consequences.

The Kaduna - Birnin Gwari highway is believed to be one of the most dangerous highways in the country as armed robbery and kidnapping activities occurred almost on a daily basis.

Hundreds of people have either been killed, wounded or kidnapped along that axis as a result of armed robbery attacks while millions of naira had been lost by commuters.

The bandits are said to be well-established in several camps within the large Kamuku, Kuyambana and Falgore forests which stretches to Kaduna, Kebbi, Niger, Katsina, Sokoto and Zamfara states.

Several local markets in the area are said to have closed down as a result of the activities of the criminals.

Another source in Birnin Gwari added that many local vigilante groups, cannot stand the sophisticated weapons of the bandits as some of the vigilante members who dare them have been killed in the most inhuman manner.

According to him, the bandits carry very sophisticated weapons and they are very daring, adding that the local vigilante groups in the various communities cannot stand them. “They carry very sophisticated weapons and

It is quite a tragedy, we have been mourning since we received the sad news. The military has been assisting us in the area of security in the last two or three years since we came.

We have had so many operations in that area to stop the banditry in the Birnin Gwari area, kidnapping, armed robbery, cattle rustling and the rest of them. So it is a big tragedy

The remains of the late soldiers ready for ďŹ nal interment

Former GOC, 1 Division, Kaduna, Maj. Gen. Oyebade showing some of the arms recovered from bandits after six months of “Operation Sharan Daji� in January 2016

they are very daring. They have destroyed economic and social activities within communities. “People live in perpetual fear of being attacked.

The security agencies, especially the army and the police have been doing their best, but they also have their challenges,� he said.

According to him, one of the problems facing many communities is the poor telephone networks and lack of motorable roads to access the communities.

This, in addition to the terrain of the area, according to him, make it impossible for security personnel to respond promptly to any emergency situation.

Among several people who had fallen victim to the bandits, was a deputy police commissioner serving in Gusau, Zamfara State and some members of his family who were abducted in 2017, alongside others while travelling along that route from Funtua in Katsina State.

Also in January 2018, two South Africans who were kidnapped at a mining site in Maidaro village, Birnin Gwari Local Government Area of Kaduna State, were rescued by the police.

Several security operations have been launched in the area to flush out the bandits, but it appears that as soon as such exercises were over, the bandits regrouped again to resume their nefarious activities with more ferocity.

In July 2015, the governors of Kaduna, Kebbi, Katsina, Sokoto, Niger and Zamfara states all of who share boundaries at the Kamuku, Kuyambana and Falgore forests, sponsored a joint security operation known as “Operation Sharan Daji� to deal with the wave of cattle rustling, armed banditry, kidnapping and all forms of criminalities in the area.

The operation, comprising the Nigerian Army, the Nigerian Airforce, the Nigerian Police, the Nigerian Customs and the State Security Services (SSS) lasted for six months.

The operation yielded some positive results as many of the bandits were either killed during the exchange of gunfire or arrested.

At a news conference on the success of the operation in January 2016, former General Officer Commanding (GOC) 1 Division of the Nigerian army, Major. Gen. Adebiyi Oyebade disclosed

that over 100 of the bandits were killed in the course of the operation while 294 cattle rustlers were arrested Oyebade further said 103 types of weapons were also recovered from the criminal gangs.

"Given the wide expanse of the North-west zone, over 200 camps belonging to the bandits were destroyed. These recoveries were in collaboration with other security agencies which we worked closely with.�

In January 2018, the 1 Division of the Nigerian Army launched yet another special operation in parts of Kaduna and Niger states to tackle rising cases of kidnapping, armed robbery and cattle rustling in parts of the area.

The operation codenamed “Karamin Goro� covered Minna-Birnin Gwari-Pandogari and Minna-Sarkin Pawa general area.

The special operation according to the Deputy Director, Army Public Relations and spokesmen of the Division, Col. Mohammed Dole, involved the Nigerian Air Force, Police, DSS operatives and the Nigeria Security and Civil Defence Corps (NSCDC).

Dole in a statement said that the operation was imperative following emerging cases of armed robberies, cattle rustling and kidnappings in the affected areas which have continued to pose serious security threats to Nigerians. “These criminals use the thick forests as hideouts and major highways as staging areas to perpetrate their nefarious activities along highways, major roads, adjoining towns and villages. “As a result of their dastardly acts, some remote villages were completely deserted, causing the residents to abandon their ancestral domains to unknown destinations for their safety,� he said.

He said in response to these re-emerging security concerns, the Division launched Operation Karamin Goro to clear the remnants of the criminals from their bases and ensure the safety of lives, property and safe movement of people within these areas.

He urged those with useful information to always call 193 from any network provider for a prompt response by security agencies.

However, two months after the operation,

the army fell victim of the bandits.

Governors of the affected states have also been making concerted efforts to end banditry in the areas concerned.

Apart from sponsoring the military operations that lasted for six months in 2015, the governors have been advocating that the federal government handover the forests to them.

At one of the meetings of the Northern States Governors Forum (NSGF) last year in Kaduna, Governor Nasir el-Rufai advocated that governors of the North-west region should approach the federal government with a proposal for the handing over of the Kamuku, Kuyambana and Falgore forests for them to manage.

El-Rufai said in view of the high level of crime across the forests, it may be prudent for the states to manage them rather than leaving it in the hands of the federal government.

He said “For such efforts to be credible and sustainable, the state must vigorously reclaim its prerogatives as the guarantor of security. “Robust actions in the security sector must be undertaken quickly to implant a visible, reassuring and effective presence of the protective hand of the state across our region,� he said.

Speaking further, the governor said “We should consider whether it is not prudent, for instance, for the states that through which the Kamuku, Kuyambana and Falgore forest ranges stretch to request that the “federal government should hand them over for better and closer management.�

According to el-Rufai, “the forests constitute sources of perils to ordinary people, the states and the country.�

He noted that after the bitter experience with Boko Haram, it will be a mistake to allow the emergence of new Sambisa in the forests, which he said provides safe refuge for outlaws and has become the headquarters for robberies, kidnappings and cattle rustling. “What is proposed is that we continue to jointly fund special security operations to sanitise these spaces, which must now be accompanied with a development agenda to convert them from areas of insecurity to places that are properly integrated into the economy,� el-Rufai said.

T H I S D AY ˾ ͷ˜ ͰͮͯͶ

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23

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

BUSINESSWORLD

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

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THUMBS DOWN Discosâ&#x20AC;&#x2122; Failure to Pay for Electricity Sold to Them

Ă&#x17E; Ă?Ă&#x2014;Ă?Ă&#x153;Ă&#x2018;Ă?Ă&#x17D; Ă&#x2013;Ă&#x2039;Ă?Ă&#x17E; ĂĄĂ?Ă?Ă&#x2022; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă&#x2122;Ă&#x2DC;Ă&#x2013;ĂŁ Ă?Ă&#x2122;Ă&#x;Ă&#x153; Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? ÍŻÍŻ Ă?Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x153;Ă&#x201C;Ă?Ă&#x201C;Ă&#x17E;ĂŁ Ă&#x201C;Ă?Ă&#x17E;Ă&#x153;Ă&#x201C;Ă&#x152;Ă&#x;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;

FINANCING THE ECONOMY

L-R: President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola; Secretary to the Ogun State Government, Barrister Taiwo Adeoluwa; Governor, Central Bank of Nigeria, Mr. Godwin Emefiele; Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mr. Nnamdi Okonkwo; and Deputy Group Managing Director, UBA Plc, Mr. Victor Osadolor at the formal launch of the Guardian Compendium on â&#x20AC;&#x153;Financing The Economyâ&#x20AC;? and the conferment of the Economic Personality of the Year Award on Emefiele held at the Eko Hotel and Suites, Lagos â&#x20AC;Ś recently

UBAâ&#x20AC;&#x2122;s Loans to Agriculture, Power Sectors Hit N265 Billion Chika Amanze-Nwachuku Whereas most commercial banks shy away from lending to the agriculture sector, Pan-African banking group, United Bank for Africa (UBA) Plc has granted as much as N85billion loans to the sector. Also, lending to the power sector is in excess of N180billion across the UBA Group, recent figures obtained

by THISDAY have revealed.

Agriculture is Nigeriaâ&#x20AC;&#x2122;s single largest contributor to economic growth and employs the largest number of rural dwellers, yet its share of banking sector credit has been low because commercial banks regard the sector as unsafe for lending.

Recent figures obtained from UBA group revealed that the bank is the highest lender to agriculture.

ECONOMY Head, Investor Relations, at the UBA Group, Mr. Abiola Rasaq said at a recent interactive session with journalists that the bankâ&#x20AC;&#x2122;s loans to the agriculture sector represent about 5 per of its overall loan book.

He explained that the PanAfrican financial institution find these sectors to be very critical to Nigeriaâ&#x20AC;&#x2122;s economic growth and stability. Besides, he said the loans to the agriculture sector will help Nigeria attain her target to be self-sufficient in food production.

Rasaq also noted that UBA group was one the banks that have extended a lot of loans to the manufacturing sector because it is very critical to the growth of Nigerian economy. â&#x20AC;&#x153;We are one the banks that

lend a lot of money to the manufacturing sector and one of the few banks that lend a lot of money to the power sector because we find these sectors to be critical.

In terms of SMEs, UBA is the highest lender to agriculture.

Today our loan book in agriculture alone represents about 5 per of our overall loan book of N1.7trn; that represents about N85billion in agric. â&#x20AC;&#x153;In power, today, we have lend in excess of N180billion across the UBA Group, and not just in Nigeria but in some other African countries because we have identified these sectors to be very critical, not only from a business perspective to us as a bank, but also because we believe that if we get the agric sector right for example, we will attain food self-sufficiency,

which is very important. So we see that as a way of supporting the real sector of the economy not necessary from the banking sector perspective or from a profit making perspectiveâ&#x20AC;?, said Rasaq.

In terms of Corporate Social Responsibility (CSR), Rasaq said the bank spent N816million in 2017 alone supporting the economy.

He said: â&#x20AC;&#x153;We donated N300million to the Nigeria Police because of security issue in Nigeria and likewise some other banks. We also donated N50 million to Lagos state security trust fund. In addition to that, UBA also donated N25million to four different states to help secure their states.â&#x20AC;? This he said was aside construction of roads in some villages and various Continued on page 24

Oil Industry Operators to Sign Upstream FIDs at Lower Costs Ejiofor Alike A new report by Wood Mackenzie showed that the cost reduction efforts by the oil and gas industry have largely been successful as the Final Investment Decisions (FIDs) for upstream projects are set to witness new low cost cycle, While noting that the projects that did get the greenlight are notably smaller, the report disclosed that the average capital expenditure to develop major projects with commercial reserves of over 50 million barrels of oil equivalent (mmboe) sanctioned in 2017 fell to only $2.7 billion,

ENERGY the lowest in a decade.

To put this into context, Wood Mackenzie said the average project Capex for those sanctioned over the last decade was $5.5 billion.

The report added that 2017 saw a significant recovery in upstream FIDs, with the number of project sanctions more than doubled compared to 2016.

The report predicts a similar total in 2018 - circa 30 major project FIDs - supported by continued prudence in industry spending.

Wood Mackenzie noted that the primary focus of the oil and gas industry operators has been to reduce project footprints through fewer wells, smaller facilities, and the greater use of subsea tie-backs and existing infrastructure.

According to the reports, lower costs, lower breakevens, higher prices and improved corporate finances all contributed to an upgrade in industry sentiment and more projects getting sanctioned in 2017. â&#x20AC;&#x153;We are seeing significantly smaller projects, alongside a greater appetite for brownfield and expansion projects, and

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Ă&#x2DC;Ă&#x2122;Ă&#x17E; Ă&#x161;Ă&#x153;Ă&#x2122;Ă Ă&#x201C;Ă&#x17D;Ă?Ă&#x17D; ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă&#x2014;Ă?Ă&#x17E;Ă?Ă&#x153;Ă? Ă&#x17E;Ă&#x2122; Ă?Ă&#x17E;Ă&#x2122;Ă&#x161; Ă&#x161;Ă&#x2039;ĂŁĂ&#x201C;Ă&#x2DC;Ă&#x2018; Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă&#x2039;Ă&#x17E;Ă?Ă&#x17D; Ă&#x152;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă? Ă&#x161;Ă&#x153;Ă?Ă?Ă?Ă&#x2DC;Ă&#x17E;Ă?Ă&#x17D; Ă&#x152;ĂŁ Ă&#x201C;Ă?Ă?Ă&#x2122;Ă?Ë&#x203A; Ă?Ă&#x2039;Ă&#x201C;Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17D;Ă&#x201C;Ă&#x153;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă Ă? ĂĄĂ&#x2039;Ă? Ă&#x17E;Ă&#x2122; Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x2DC;Ă&#x201C;Ă?Ă? Ă&#x17E;Ă&#x2122; Ă?Ă?Ă?Ă?Ă?Ă&#x17E;Ă&#x201C;Ă Ă?Ă&#x2013;ĂŁ Ă?âĂ?Ă?Ă&#x;Ă&#x17E;Ă? Ă&#x2014;Ă?Ă&#x17E;Ă?Ă&#x153;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17D;Ă?Ă&#x161;Ă&#x2013;Ă&#x2122;ĂŁĂ&#x2014;Ă?Ă&#x2DC;Ă&#x17E; Ă?Ă&#x2122;Ă&#x153; Ă?Ă&#x;Ă?Ă&#x17E;Ă&#x2122;Ă&#x2014;Ă?Ă&#x153;Ă?Ë&#x203A; ĂĄĂ&#x2122; Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x201C;Ă?Ă?Ă&#x2122;Ă?Ě&#x2039; Ă&#x2022;Ă&#x2122; Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x153;Ă&#x201C;Ă?Ă&#x201C;Ă&#x17E;ĂŁ Ă&#x201C;Ă?Ă&#x17E;Ă&#x153;Ă&#x201C;Ă&#x152;Ă&#x;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x2DC;ĂŁ Ě&#x2122; Ě&#x161; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ikeja Electric were quick to issue a joint statement that residential Ă?Ă&#x2122;Ă&#x2DC;Ă?Ă&#x;Ă&#x2014;Ă?Ă&#x153;Ă? ĂĄĂ?Ă&#x153;Ă? Ă&#x2DC;Ă&#x2122;Ă&#x17E; Ă&#x201C;Ă&#x2DC;Ă?Ă&#x2013;Ă&#x;Ă&#x17D;Ă?Ă&#x17D; Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17D;Ă&#x201C;Ă&#x153;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă Ă? Ă&#x201C;Ă?Ă?Ă&#x;Ă?Ă&#x17D; Ă&#x152;ĂŁ Ě&#x2122; Ě&#x161;Ë&#x203A; Ă&#x2019;Ă? Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă&#x2039;Ă&#x17E;Ă?Ă&#x17D; Ă&#x152;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x2019;Ă&#x2039;Ă Ă? Ă?Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x;Ă?Ă&#x17D; ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă&#x2039; Ă&#x153;Ă?Ă?Ă&#x201C;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2039;Ă&#x2013; Ă?Ă&#x2122;Ă&#x2DC;Ă?Ă&#x;Ă&#x2014;Ă?Ă&#x153; Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17E;Ă&#x2019;Ă?Ă?Ă? Ă&#x17E;ĂĄĂ&#x2122; Ă&#x2039;Ă&#x153;Ă?Ă&#x2039;Ă? Ă&#x161;Ă&#x2039;ĂŁĂ&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039;Ă? Ă&#x2014;Ă&#x;Ă?Ă&#x2019; Ă&#x2039;Ă? ÍŻÍłË&#x153;ÍŽÍŽÍŽ Ă&#x2014;Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x2019;Ă&#x2013;ĂŁ Ă?Ă Ă?Ă&#x2DC; ĂĄĂ&#x2019;Ă?Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă?Ă&#x153;Ă? ĂĄĂ&#x2039;Ă? Ă&#x2DC;Ă&#x2122; Ă&#x161;Ă&#x2122;ĂĄĂ?Ă&#x153; Ă?Ă&#x;Ă&#x161;Ă&#x161;Ă&#x2013;Ă&#x201C;Ă?Ă&#x17D;Ë&#x203A; Ă&#x153;Ă?Ă?Ă?Ă&#x2DC;Ă&#x17E; Ă&#x2039;Ă&#x17E;Ă&#x17E;Ă?Ă&#x2014;Ă&#x161;Ă&#x17E; Ă&#x152;ĂŁ Ă?Ă&#x2122;Ă&#x2014;Ă? Ă?Ă&#x2122;Ă&#x2DC;Ă?Ă&#x;Ă&#x2014;Ă?Ă&#x153;Ă? Ă&#x;Ă&#x2DC;Ă&#x17D;Ă?Ă&#x153; Ă&#x2022;Ă?Ă&#x201D;Ă&#x2039; Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x153;Ă&#x201C;Ă? Ă&#x17E;Ă&#x2122; Ă&#x153;Ă?Ă?Ă&#x201C;Ă?Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă&#x;Ă&#x2DC;Ă?Ă&#x2039;Ă&#x201C;Ă&#x153; Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă&#x2039;Ă&#x17E;Ă?Ă&#x17D; Ă&#x152;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x17E;Ă?Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă? Ă&#x201C;Ă?Ă?Ă&#x2122; Ă&#x17E;Ă&#x2122; Ă&#x201C;Ă&#x2DC;Ă Ă&#x201C;Ă&#x17E;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x161;Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x2122;Ă&#x2014;Ă? Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x153;Ă?Ă?Ă&#x201C;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E;Ă? ĂĄĂ?Ă&#x153;Ă? Ă&#x2039;Ă&#x153;Ă&#x153;Ă?Ă?Ă&#x17E;Ă?Ă&#x17D; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x17D;Ă?Ă&#x17E;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D;Ë&#x203A; Ă&#x2019;Ă? Ă&#x201C;Ă?Ă?Ă&#x2122;Ă? Ă&#x2019;Ă&#x2039;Ă Ă? Ă&#x2122;Ă?Ă&#x17E;Ă?Ă&#x2DC; Ă&#x152;Ă&#x2013;Ă&#x2039;Ă&#x2014;Ă?Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă?Ă&#x201C;Ă&#x153; ĂĄĂ&#x2122;Ă?Ă? Ă&#x17E;Ă&#x2122; Ă&#x2122;Ă&#x2DC; Ă&#x2DC;Ă&#x2122;Ă&#x2DC;Ě&#x2039;Ă&#x153;Ă?Ă?Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă Ă? Ă&#x17E;Ă&#x2039;Ă&#x153;Ă&#x201C;Ă?Ă?Ă?Ë&#x153; Ă Ă&#x2039;Ă&#x2DC;Ă&#x17D;Ă&#x2039;Ă&#x2013;Ă&#x201C;Ă?Ă&#x2014;Ë&#x153; Ă&#x201C;Ă&#x2DC;Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2013;Ă&#x201C;Ă&#x17E;ĂŁ Ă&#x17E;Ă&#x2122; Ă&#x2039;Ă?Ă?Ă?Ă?Ă? Ă?Ă&#x153;Ă?Ă&#x17D;Ă&#x201C;Ă&#x17E; Ă?Ă&#x2039;Ă?Ă&#x201C;Ă&#x2013;Ă&#x201C;Ă&#x17E;Ă&#x201C;Ă?Ă? Ă?Ă&#x153;Ă&#x2122;Ă&#x2014; Ă&#x17E;Ă&#x2019;Ă? Ă&#x152;Ă&#x2039;Ă&#x2DC;Ă&#x2022;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2DC;Ă&#x2122;Ă&#x2DC;Ě&#x2039; Ă&#x161;Ă&#x2039;ĂŁĂ&#x2014;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x2122;Ă? Ă&#x152;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă? Ă&#x152;ĂŁ Ă?Ă&#x2122;Ă&#x2014;Ă? Ă?Ă&#x;Ă?Ă&#x17E;Ă&#x2122;Ă&#x2014;Ă?Ă&#x153;Ă?Ë&#x203A;

more subsea tie-backs,â&#x20AC;? said a principal analyst at Wood Mackenzie, Jessica Brewer. â&#x20AC;&#x153;Brownfield developments are popular in the current capitalconstrained environment, with less spend and execution risk than a greenfield project, and a faster route to first production.

Both investors and operators want to see faster cycle times and quicker returns on upstream projects,â&#x20AC;? Brewer added. â&#x20AC;&#x153;We should continue to see operators favouring a â&#x20AC;&#x2DC;leaner and meanerâ&#x20AC;&#x2122; path in 2018. At Continued on page 24

Fashola

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

24

BUSINESSWORLD UBAâ&#x20AC;&#x2122;S LOANS TO AGRICULTURE, POWER SECTORS HIT N265 BILLION

supports to schools in parts of the country.

Earlier, while responding to a question on the bankâ&#x20AC;&#x2122;s lending to customers, the Group Chief Finance Officer at the UBA, Mr. Ugo Nwaghodoh emphasised that the core business of banking is intermediations, which he said, was why the bank grants loans to its numerous customers at rates that are very reasonable and affordable. This he noted, was despite the fact that the cost of doing business is appalling in Nigeria and in a number markets that the bank operates due to infrastructure deficit.

However, he noted that in exercising that responsibility, the banks apply caution to ensure depositor â&#x20AC;&#x2122;s money is safe and secure.

He said: â&#x20AC;&#x153;The bank has the responsibility to ensure that it lends out cautiously to individuals, companies, SMEs that will do business and safely return the money.

It is always delicate balance of trying to identify bankable customers who meet your risk acceptance criteria because you have the responsibility to return the money to depositors when they come.

OIL INDUSTRY OPERATORS TO SIGN UPSTREAM FIDS AT LOWER COSTS

the beginning of the year we selected 30 projects we thought were most likely to make FID, and they follow many of the trends we saw emerge in 2017. Average capex continues to fall â&#x20AC;&#x201C; averaging only $2.2 billion â&#x20AC;&#x201C; while capex/barrels of oil equivalent (boe) is now only $4.9/boe, versus $11.3/ boe back in 2011,â&#x20AC;? Brewer said.

Wood Mackenzie also forecasts a 15 per cent decline in average breakeven cost to $44/boe, applying a 15 per cent discount rate, with the most competitive projects in shallow-water Norway, UK and Mexico.

According to the report, gas projects will take centrestage, aided by big expansion projects in Norway, Iran and Oman.

NEWS

â&#x20AC;&#x2122;EUâ&#x20AC;&#x2122;s GDPR Law Will Boost Data-driven Business in Nigeriaâ&#x20AC;&#x2122; Emma Okonji Microsoft, a leading software giant has advised businesses in Nigeria, including small and large corporates that are aiming to expand beyond the shores of the country to achieve global best practice in business, to immediately key into the European Unionâ&#x20AC;&#x2122;s General Data Protection Regulation (GDPR) law. The law seeks to protect personal identifiable data across organisations.

Highlighting the importance of the GDPR law on global businesses, which takes effect May 25, 2018 within European Union (EU) countries, the Lead Commercial Attorney, Microsoft MEA Emerging Markets, John Edokpolor, said the GDPR is a new European law designed to protect the privacy of citizens, by setting new standards in terms of how personal data is handled.

He however said failure to adhere to GDPR requirements could prevent trade and other business dealings with EU businesses after May 25, 2018.

He said although the GDPR law is an EU law, it is relevant to businesses around the world, especially businesses that have trade ties with Europe. â&#x20AC;&#x153;The new legislation is a milestone on a journey into a new era, where data is the fuel powering companies of all shapes and sizes, from all sectors,â&#x20AC;?

Edokpolor said.

Explaining the reason for the introduction of GDPR law, over the weekend in Lagos, Edokpolor said: â&#x20AC;&#x153;Companies are increasingly embracing the cloud, with unprecedented ability to capture and store massive amounts of data, which calls for an updated governance framework for data protection policy in this new age.â&#x20AC;?

He further added that build-

ing on these rules, innovation coupled with trust among businesses and citizens will unlock productivity, help companies keep their customers delighted and fuel a new generation of Disruptors, which ultimately translates into growth.

Citing a recent McKinsey Global Institute study, which revealed that â&#x20AC;&#x153;data flows now exert a larger impact on Gross Domestic Product (GDP) growth

than the centuries-old trade in goods,â&#x20AC;?

Edokpolor said the GDPR law would protect the privacy of citizens and protect their data stored in the cloud.

With less than two months to the deadline for compliance with the GDPR law, many companies are worried about what steps they should be taking to meet the new privacy and data protection requirements

as efficiently and effectively as possible.

However, in order to be compliant with the new EU law on data protection, Edokpolor said achieving compliance, businesses must address three things: people, processes, and preparedness. In order to address the three key components, Edokpolor said organisations must manage their data like they manage their money.

VALUE CHAIN CONFERENCE

L-R: MD/CEO of Diamond Bank, Uzoma Dozie; MD/CEO Galaxy Backbone, Yusuf Kazaure; MD/CEO Digital Jewels, Adedoyin Odunfa; MD/ CEO VDT Communications, Biodun Omoniyi, at Digital Jewelsâ&#x20AC;&#x2122; 70th Information Value Chain Conference held in Lagos â&#x20AC;Ś recently

Bala-Usman Advocates Deployment of FBV in Low Draught Channels Eromosele Abiodun The Managing Director, Nigerian Ports Authority (NPA) Hadiza Bala Usman has canvassed for the deployment of Flat Bottom Vessels (FBV) in channels with low draught in the nationâ&#x20AC;&#x2122;s seaports.

According to the Managing Director, the use of the FBV in some shallow draught channels would serve as a workable solution for the draught limitations in some channels especially in Calabar and Warri.

Bala Usman, who spoke in Lagos, weekend when she received members of the Nigerian Chamber of Shipping,

led by its President, Mr. Andy Isichei, stated that the Authority would be willing to work with the chamber for the mutual benefit of both parties.

She recalled that it was a thing of joy that a flat bottom 200 meter long and 61,000MT heavy vessel FBV, berthed last year in Calabar Port despite the draft limitations of the channel.

This, she explained goes to show that such vessels can navigate in such shallow channels.

She therefore appealed to stakeholders in the nationâ&#x20AC;&#x2122;s maritime sector, especially those in the shipping sub-sector, to devise ways of collaborating with the Authority to see the presence

of more FBV in such channels considering their comparative advantage.

While restating that the NPA would be very willing to midwife and facilitate any proposal which would help make the new arrangement possible, Hadiza Bala Usman, expressed the strong conviction that with the cooperation of Stakeholders such as members of the Nigerian Chamber of Shipping and other relevant stakeholders, the proposal on the FBV is realisable.

Earlier, the President of the Chamber, Isichei had told the NPA boss that the shallowness of some sections of the channels

is of concern to members of the Chamber and said the FBV should be encouraged in such channels.

In the meantime, the NPA has reiterated that it shall continue to accord priority attention to suggestions and recommendations from stakeholders in the nationâ&#x20AC;&#x2122;s maritime sector in the overall interest of the sector.

Bala-Usman gave the assurance when she received members of the Maritime Arbitrators Association of Nigeria (MAAN) who paid her a courtesy call in her office in Lagos.

While urging stakeholders to come forward with useful suggestions on critical areas of the Authorityâ&#x20AC;&#x2122;s operations, the

Managing Director reiterated that the Authority shall consider such submissions on their merits, and within budgetary provisions.

She called for a more elaborate effort amongst stakeholders in the maritime sector, through collaboration on specific workable areas and joint partnership.

Earlier, MAAN President, Barrister Adewale Jones had appealed for greater collaboration between the Association and the Authority, while at the same time commending the management of the organisation for its bold step, which he described as germane to the growth and development of the nationâ&#x20AC;&#x2122;s economy.

Ericsson Report Highlights Hot Consumer Trends in Digital Era Emma Okonji

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 (Nationâ&#x20AC;&#x2122;s Capital) Obinna Chima (Money Mkt) Chineme Okafor (Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

Ericsson ConsumerLab has released the seventh edition of its annual trend report, highlighting 10 hot consumer trends that will shape businesses and human thinking for 2018 and beyond.

The report points to a paradigm shift as consumers expect digital technology to increasingly operate on human terms. According to the report, body language, facial expression and intonation will augment voice and touch to control consumer interaction with tech devices, easing adaption in an ever- increasing pace of technological change.

Analysing the 10 hot consumer trends at a press conference in Lagos at the weekend, the Country Manager, Ericsson Nigeria, Mr. Olivier Vandermoten, said that

the consumer trend report would guide businesses and customers of things to expect in terms of consumer behaviour and interest in 2018 and beyond.

According to the report, one of the trends is around body language and user interface, where body language of humans will become the user interface between humans and devices.

The report noted that more than half of current users of intelligent voice assistants believe that they will use body language, expression, intonation and touch to interact with tech devices as if they were fellow humans.

Some strongly feel that this will happen within a mere three years.

Another consumer trend is on augmented hearing, where

63 per cent of consumers said they would like earphones that translate languages in real time. About 52 per cent said it would help them to block out a family memberâ&#x20AC;&#x2122;s snoring.

Eternal Newbies is another area of consumer trend where 30 per cent said new technology makes it hard to keep their skills up to date. About 46 per cent said the internet allows them to learn and forget skills faster than ever.

Social broadcasting is yet another trend, where social media is being overrun by traditional broadcasters. But half of consumers said Artificial Intelligence (AI) would be useful to check facts posted on social networks.

The report also looked at the intelligent ads trend, where

advertisements may become too smart for people. According to the report, more than half of augmented reality (AR)/virtual reality (VR) users think ads will become so realistic they will eventually replace the products themselves.

In the area of uncanny communication, 50 per cent think not being able to tell the difference between human and machine would spook them out.

However 40 per cent would also be spooked by a smartphone that reacts to their mood.

For the Leisure society trend, 32 per cent of students and working people do not think they need a job to develop a meaningful life. 40 per cent said they would like a robot that works and earns income for them, freeing up leisure time.

Again, the report looked at

consumersâ&#x20AC;&#x2122; full photo experience a room, where people are able to walk into a photo and relive a memory. Three out of four believe that in only five years they will use virtual reality to walk around in smartphone photos, Vandermoten said.

For Streets in the Air, the report said city streets may be choked with traffic but the skies remain free. According to the report, 39 per cent think their city needs a road network for drones and flying vehicles. But almost as many worry that a drone would drop on their head.

The tenth consumer trend is built around the Charged Future, where the connected world will require mobile power. More than 80 per cent believe that in only five years consumers will have long-lasting batteries that will put an end to charging concerns.

25

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

Stock Market Starts Q2 with 1.6% Decline Goddy Egene and Nosa Alekhuogie

Prestige Assurance Plc led the price gainers with 9.3 per cent, followed by LASACO Assurance Plc. Transcorp Plc, May & Baker Nigeria Plc and Eterna Plc appreciated by 4.8 per cent, 4.6 per cent and 4.6 per cent respectively.

Conversely, Glaxosmithkline Consumer Nigeria Plc led the price losers with 9.6 per cent, trailed by Jaiz Bank Plc with 8.1 per cent. Japual Oil, International Breweries Plc and NPF Microfinance Bank Plc shed 7.5 per cent, 4.9 per cent and 4.7 per cent in that order.

In terms sectoral Sector performance four closed positively led by the NSE Industrial Goods Index with 0.6 per cent. The NSE Insurance Index trailed, closing 0.4 per cent higher, while the NSE Banking Index went up by 0.3 per cent. The NSE Oil & Gas Index appreciated by 0.1 per cent.

The market could not sustain the positive performance of the previous day on Friday as the bears returned.

This pushed the market to close the week on a negative performance.

The Nigerian stock market recorded a decline in the first week of the second quarter(Q2) as investorsâ&#x20AC;&#x2122; negative sentiments persisted. Having closed the first quarter(Q1) with a growth of 8.5 per cent, the market opened Q2 with decline last week with the Nigerian Stock Exchange (NSE) All-Share Index 1.6 per cent.

The negative performance stemmed from sell offs in some bellwether stocks.

Specifically, the NSE ASI closed lower at 40,841.14, while market capitalisation shed N239.6 billion to be at N14.8 trillion last week.

Performance across sectors, was equally bearish led by the NSE Oil & Gas Index 2.8 per cent, trailed by the NSE Industrial Goods Index went down by 2.1 per cent. The NSE Banking Index lost 1.3 per cent.

Similarly, sell pressures in drove the NSE Consumer Goods Index and NSE Insurance Index down 1.1 per cent and 0.1 per cent respectively.

Market Turnover

Daily Performance The equity market opened on Tuesday, which was the first trading of the Q2 on a negative note as the NSE ASI depreciated by 1.56 per cent to close at 40,855.64, while market capitalisation shed N234.4 billion to close lower at N14.76 trillion. The depreciation recorded in the share prices of GTBank, Dangote Cement, FBN Holdings, Nigerian Breweries, and Lafarge Africa were mainly responsible for the loss recorded in the index.

The performance on Tuesday dragged the year-to-date (YTD) growth to dropped 6.8 per cent. But the level of activity level improved as volume and value traded rose 34.8 per cent and 68.8 per cent to 364.8 million shares and N6.3 billion respectively.

Zenith Bank Plc (88.2 million shares), Transcorp (60.0 million shares) and Sterling Bank Plc (40.5 million shares ) led the top traded stocks by volume chart while Zenith Bank (N2.6 billion), Nigerian Breweries Plc IGERIAN BREWERIES (N1.2 billion) and Nestle Nigeria (N0.6 billion) were the top traded stocks by value.

In terms of sectoral performance, the five indices declined, led by the NSE Industrial Goods Index with 3.4 per cent. The NSE Consumer Goods Index followed with 0.6 per cent decline, while the NSE Oil & Gas Index shed 0.5 per cent. Similarly, the NSE Banking Index slid 0.4 per cent, just as the NSE Insurance Index closed 0.1 per cent lower.

The market maintained the downward trend, shedding 0.26 per cent to be at 40,749.86, pulling the YTD growth to 6.6 per cent. The bearish performance can be attributed to sell pressures in Zenith Bank , Dangote Flour Mills Plc, ETI, Fllour Mills of Nigeria Plc, FBN Holdings Plc, Transcorp Plc and UAC of Nigeria Plc. UACN, which is a leading conglomerate, recorded a decline of 83 per cent for the year ended December 31, 2017. But the directors recommended a dividend of 65 kobo per share despite the profit fall.

The audited results of UACN showed that revenue of N89.178 billion, down by eight per cent from N82.572 billion. Operating profit fell by 19 per cent to N7.031 billion, from N8.639 billion. However, net finance cost soared by 218 per cent from N1.361 billion to N4.324 billion in 2017.

The surge in the cost of finance was fueled by high interest charges paid on bank borrowings. UACN paid N5.984 billion on charges on loans and overdraft from banks. Profit before tax stood at N3.246 billion, showing a decline of 61 per cent from N8.368

Just like the previous week when the market opened for four days, trading last week as also for four days due to public holiday to celebrate Easter Monday. A total of of 1.765 billion shares worth N26.562 billion were traded in 20,265 deals last week, compared with 2.328 billion shares valued at N28.827 billion in 25,530 deals the previous week.

The Financial Services Industry led the activity chart with 1.468 billion shares valued at N18.707 billion traded in 12,850 deals, thus contributing 83.18 per cent and 70.43 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry trailed with 127.882 million shares worth N623.871 million in 971 deals. The third place was occupied

by Consumer Goods with a turnover of 69.868 million shares worth N6.189 billion in 2,930deals.

Trading in the top three equities namely â&#x20AC;&#x201C; Zenith I Bank Plc, Access Bank Plc and United Bank for Africa Plc accounted for 543.758 million shares worth N9.739billion in 3,533 deals, contributing 30.81 per cent and 36.66 per cent to the total equity turnover volume and value respectively.

Price Gainers and Losers billion, while profit after tax fell by 83 per cent to N962 million in 2017 compared with N5.666 billion in 2016.

However, the equities market rebounded on Thursday as the NSE ASI appreciated by 0.31 per cent to

close at 40,875.69. Similarly, market capitalisation added N45.5 billion to close at N14.77 trillion.

The appreciation recorded in the share prices of ETI, Dangote Cement, Zenith Bank, UBA, and Access Bank,

were mainly responsible for the positive performance. Also, activity level improved as volume and value traded increased by 23.5 per cent and 13.3 per cent respectively to 495.6 million shares and N7.7 billion.

Top 10 Brokers by Volume Rank

Broker

Description

Quantity

% of Volume

1

CSL

CSL STOCKBROKERS LIMITED

485,773,254

13.76

2

SISB

STANBIC IBTC STOCKBROKERS LIMITED

344,174,975

9.75

3

RSNL

RENCAP SECURITIES (NIG) LIMITED

284,165,801

8.05

4

UNEX

UNEX CAPITAL LIMITED

232,920,196

6.60

5

READ

READINGS INVESTMENTS LIMITED - BDR

196,629,817

5.57

6

CAM

CASHCRAFT SECURITIES LIMITED - BRD

169,577,245

4.80

7

CSSL

CARDINALSTONE SECURITIES LIMITED

113,851,246

3.23

8

CSEC

CORONATION SECURITIES LIMITED

106,234,630

3.01

9

MCSE

MORGAN CAPITAL SECURITIES LIMITED

100,506,244

2.85

10

EFCP

EFCP LIMITED

Top 10 Total Volume

86,725,936

2.46

2,120,559,344

60.08

Value

% Value

NOTE: The top 10 Stockbrokers are responsible for 60.08% of the total volume between 03/04/2018 and 06/04/2018

Top 10 Brokers by Value Rank

Broker

Description

1

SISB

STANBIC IBTC STOCKBROKERS LIMITED

13,668,121,153.78

25.72

2

CSL

CSL STOCKBROKERS LIMITED

10,302,634,473.06

19.39

3

RSNL

RENCAP SECURITIES (NIG) LIMITED

6,010,374,924.40

11.31

4

EFCP

EFCP LIMITED

3,885,812,657.90

7.31

5

CHDS

CHAPEL HILL DENHAM SECURITIES LTD - BRD

2,708,861,155.70

5.10

6

CSEC

CORONATION SECURITIES LIMITED

1,955,777,036.87

3.68

7

FBNS

FBNQUEST SECURITIES LIMITED

1,564,242,815.62

2.94

8

ARMS

A.R.M SECURITIES LIMITED - BRD

1,052,131,153.99

1.98

9

READ

READINGS INVESTMENTS LIMITED - BDR

1,009,199,409.12

1.90

10

FIMA

FINMAL FINANCE COMPANY LIMITED

Top 10 Total Value NOTE Th t

10 St

kb k

ibl f

80 59% f th t t l

l

b t

03/04/2018

d 06/04/2018

667,962,450.65

1.26

42,825,117,231.09

80.59

The bears were in total control as 53 equities depreciated in price, higher than 40 equities of the previous week, while on 19 equities appreciated in price during the week, lower than 40 of the previous week. Japaul Oil & Maritime Services Plc led the price losers with 23.7 per cent, trailed by Unity Bank Plc with 17.2 per cent.

Jaiz Bank Plc shed 16.1 per cent, just as Glaxosmithkline Consumer Nigeria Plc and Wema Bank Plc with 14.7 per cent and 14.1 per cent respectively.

Other top price losers included: Dangote Flour Mills Plc (13.4 per cent); Sovereign Trust Insurance Plc (13.0 per cent); Unity Kapital Assurance Plc (11.5 per cent); Sterling Bank Plc (9.7 per cent) and International Breweries Plc (9.6 per cent).

On the positive side, LASACO Assurance Plc led the price gainers with 21.2 per cent, trailed by May & Baker Nigeria Plc with a gain of 14.3 per cent. Law Union and Rock Insurance Plc chalked up 12.3 per cent, just as UNIC Diversified Holdings Plc garnered 11.1 per cent.

Other top price gainers are: AIICO Insurance Plc (9.6 per cent); African Alliance Insurance Company Plc (9.1 per cent); Unilever Nigeria Plc (8.7 per cent); Access Bank Plc (8.6 per cent); Caverton and Prestige Assurance Plc(4.4 per cent apiece).

26

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

A view of Lagos ďŹ nancial district

AKINWUNMI IBRAHIM

As MPC Remains in â&#x20AC;&#x2DC;Wait and Seeâ&#x20AC;&#x2122; Mode Obinna Chima The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at the end of its first meeting for the year held last week decided to keep all its monetary policy tools unchanged as it awaits more evidence of the impact of its restrictive policy that has been in place for 21 months.

Specifically, the newly formed MPC board resolved at the end of the meeting to retain the Monetary Policy Rate (MPR) at 14 per cent, the Cash Reserve Ratio (CRR) at 22.5 per cent, Liquidity Ratio (LR) at 30.0 per cent, and the asymmetric corridor at +200 and -500 basis points around the MPR as it continues in a â&#x20AC;&#x2DC;wait and seeâ&#x20AC;&#x2122; mode.

The record-high benchmark rate has been held at 14 per cent since July 2016 and some analysts had anticipated that the MPC would signal its preparedness to commence monetary easing by slightly lowering the rate.

Briefing journalists at the end of the meeting, CBN Governor, Mr. Godwin Emefiele, said in reaching its decision to retain the rates, the committee appraised the potential policy options in terms of the balance of risks. â&#x20AC;&#x153;The committee also took note of the gains made so far as a result of its earlier decisions, including the stability of the foreign exchange market, the moderation in inflation rate as well as the restoration of economic growth. â&#x20AC;&#x153;The committee was, however, concerned about the fiscal distortions associated with absence of buoyancy between GDP growth and tax revenue, and urged the fiscal authorities to deploy appropriate corrective measures to address this phenomenon. â&#x20AC;&#x153;The committee was of the view that further tightening would strengthen the impact of monetary policy on inflation with complementary positive effects on capital flows and exchange rate stability.

Nevertheless, it could potentially dampen the positive outlook for growth and financial stability,â&#x20AC;? Emefiele said.

According to Emefiele, the committee was of the view that loosening would strengthen the outlook for growth by stimulating domestic aggregate demand through reduced cost of borrowing. This may, however, lead to a rise in consumer prices, generating exchange rate pressures on the currency in the process. â&#x20AC;&#x153;The committee also believes that loosening

MARKET INDICATOR could worsen the current account balance through increased importation. On the argument to hold, the committee believes that key macroeconomic variables have continued to evolve in a positive direction in line with the current stance of macroeconomic policy and should be allowed more time to fully manifest. â&#x20AC;&#x153;In consideration of the foregoing, the committee decided unanimously by a vote of all members present to retain the Monetary Policy Rate (MPR) at 14.0 per cent alongside all other policy parameters,â&#x20AC;? he said.

After its last meeting in November 2017, the MPC could not form a quorum to sit in January 2018 due to the refusal by the Senate to confirm new nominees of President Muhammadu Buhari after some members of the committee had completed their tenures and retired.

Emefiele disclosed that the committee noted the continuous positive outlook of the economy based on the manufacturing and non-manufacturing purchasing managersâ&#x20AC;&#x2122; index (PMI) which stood at 56.7 and 57.2 index points respectively in March, indicating expansions for the 12th and 11th consecutive months.

But the decision by the MPC was not welcomed by the Chairman of the Ogun State chapter Manufacturers Association of Nigeria (MAN), Mr. Wale Adegbite.

Adegbite expressed disappointment over the decision to retain all interestrate, saying that the MPC could have reduced the policy rates so as to jump-start the economy after the long seizure for close to two years. â&#x20AC;&#x153;We hope that the rate would have started coming down now because we need a lower interest rate so as to increase activities in the manufacturing sector, â&#x20AC;&#x153;the chairman said.

Adegbite said with lower interest rate, the manufacturer would be able to produce at the optimal level as well as adding value to the nationâ&#x20AC;&#x2122;s Gross Domestic Product (GDP).

Also, the chief executive, Financial Derivatives Company Limited, Mr. Bismarck Rewane, who also frowned on the MPC decision, said: â&#x20AC;&#x153;What is concerning to me is that the central bank is going to be playing an interventionist role by lending to certain

vulnerable sectors whereas if they dropped the rate the entire economy would benefit.â&#x20AC;?

Nonetheless, the Nigeria Economic Summit Group (NESG), arguedreducing interest rate could stimulate growth but trigger inflation and exchange rate pressure.

However, it pointed out that the MPCâ&#x20AC;&#x2122;s decision to hold interest rate was predicated on achieving more clarity in the evolution of key macroeconomic indicators such as exchange rate, inflation, GDP growth rate, global oil price among others. â&#x20AC;&#x153;Hence, we believe that MPCâ&#x20AC;&#x2122;s decision to retain interest rate will continue to strengthening current account balance,â&#x20AC;? they added.

Also, a senior economist at London-based Exotix Capital Christopher Dielmann said he was not surprised by the action, adding that a rate cut was unlikely to occur until the rate of inflation has declined close to 12 per cent. â&#x20AC;&#x153;However, we suspect political considerations will play a major role in MPC decision-making, with the incumbent regime keen to lower the cost of borrowing and spur growth as we move nearer to the February 2019 general election. â&#x20AC;&#x153;This view is strengthened by the high level of reserves and inflation falling faster than growth is rising,â&#x20AC;? he added.

Dielmann observed that the MPCâ&#x20AC;&#x2122;s decision to leave rates unchanged was clearly driven by the high and persistent inflation, which has plagued the country since 2016. â&#x20AC;&#x153;It is clear that in the eyes of the MPC, inflation concerns outweigh the worries about the stagnant recovery of growth since the 2016-2017 recession. â&#x20AC;&#x153;As we have written in the past, we do not envy the position that the Nigerian MPC is currently in, in that it is being tasked with fighting stagflation â&#x20AC;&#x201C; high unemployment (perhaps as high as 20%), as a result of stagnant growth, and high inflation. â&#x20AC;&#x153;Ultimately, these challenges will not be fixed through the MPCâ&#x20AC;&#x2122;s decisions alone and will require vast structural changes across the economy. Given the reality of this situation, it is not surprising that the MPC elected to hold rates constant to allow the directional trends in both growth and inflation to continue to move towards desired levels,â&#x20AC;? he said.

The Chief Economist for Africa at Standard

Chartered Bank Razia Khan said it may be that the MPC decided to wait to confirm the deceleration in headline inflation before it cuts its policy rate.

According to her, the MPC remains concerned about the relative stickiness of food price inflation in Nigeria, notwithstanding weak demand, weak economic performance, and weak credit growth.

Khan, however, anticipated further MPR easing over the course of the year, noting that maintaining forex stability was paramount for now. â&#x20AC;&#x153;Notwithstanding the improvement in oil earnings, downside risks to the outlook for the Nigerian economy still predominate.

The CBN will try to counteract this through its targeted provision of subsidised credit to certain sectors, at below-inflation interest rates, in line with what it calls its â&#x20AC;&#x2DC;development objectiveâ&#x20AC;&#x2122;. â&#x20AC;&#x153;We believe, however, that the longer-term strengthening of Nigeriaâ&#x20AC;&#x2122;s monetary and banking framework would be better served by greater reliance on the MPR itself as a signal of monetary policy intent,â&#x20AC;? she said On its part, Afrinvest Securities Limited pointed out that a policy rate cut in 2018 would among other things, be dependent on a supportive external account condition â&#x20AC;&#x201C; stable oil prices, rising current account surplus and external reserves â&#x20AC;&#x201C; which empirical studies have emphasized to be the major anchor of monetary policy. â&#x20AC;&#x153;The key downside risks to external account stability are â&#x20AC;&#x2DC;sudden stopsâ&#x20AC;&#x2122;and high probability of capital flow reversals as the 2019 election season draws near; yet, we think the CBN has enough external reserves and resolve to defend the currency. â&#x20AC;&#x153;Benign outlook for consumer prices, which the CBN Governor has repeatedly highlighted to be a major policy consideration. With persistent deceleration of Inflation rate, the case for easing will become more compelling in the second half of 2018. Afrinvest Research forecasts year-end inflation at 11.4 per cent. â&#x20AC;&#x153;Although we expect a rate cut in 2018, the impact on fixed income yields might not be substantial as the CBN has already set in motion the easing cycle by deliberately guiding market rates down in the past 6 months, in addition to knock-on effect of the FGN fiscal strategy to reduce domestic debt issuance,â&#x20AC;? the firm added.

27

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

Global Business Leaders Elect LADOL Boss into Strategic Team The Managing Director of the Lagos Deep Offshore Logistics Base (LADOL), Dr Amy Jadesimi has been elected into BTeam, a not-for-profit initiative formed by a global group of business leaders to catalyse a better way of doing business for the wellbeing of people and the planet.

Founded in the belief that the private sector can, and must redefine both its responsibilities and its own terms of success, The B Team is developing a new, sustainable model for business centered on concerted, positive action that will ensure business becomes a driving force for social, environmental and economic benefit.

The LADOL boss joined the Chief Executive Officer of Unilever, Mr. Paul Polman at

a press conference to announce the B Team Africaâ&#x20AC;&#x2122;s agenda held at the Africa CEO Forum in Abidjan, Ivory Coast.

Speaking at the press conference, Jadesimi discussed her vision for sustainable infrastructure development in West Africa and her goals in working alongside The B Team Africa leadership members which include: the CEO of Safaricom, Bob Collymore; Chair of GAVI, Dr. Ngozi Okonjo Iweala; Founder and Chair of the Mo Ibrahim Foundation, Dr. Mo Ibrahim; Co-Founder & Executive Chair of The B Team and Former CEO of PUMA, Jochen Zeitz; CEO and Co-Founder of M-KOPA Solar, Jesse Moore; Managing Director of Isuzu East Africa, Rita Kavashe, and Group CEO

& Managing Director of KCB Group, Joshua Oigara, and the B Team Global Leaders to drive positive change in Nigeria and the continent.

Jadesimi said: â&#x20AC;&#x153;I am honoured and excited to the part of the B Team Africa, working alongside a team of passionate business leaders to support and drive sustainable business models and new opportunities for job creation and investment in Africa.

For the world to achieve the 17 Sustainable Development Goals, Africa will have to become an engine of growth and prosperity.

Fortunately, as Africans we have the human capital and resources

to do this ourselves and working with Jesse, Rita and Joshua on the B Team we can actively help create an environment where real private sector companies, large and small can build new economy businesses generating millions of jobs across the Continent.â&#x20AC;?

She added: â&#x20AC;&#x153;The B Team Africa is a Pan-African platform to enable committed business and civil society leaders to work collectively in driving progress and addressing critical issues across the continent. The B Team Africa leaders are united in influencing and convening the

private and public sector to drive long-term, inclusive, sustainable economic growth and social development for a prosperous Africa. â&#x20AC;&#x153;To achieve these goals, leaders are committed to work together and through current B Team initiatives. The B Team Africaâ&#x20AC;&#x2122;s ambitious work agenda includes, but is not limited to, open contracting, supply chain transparency, responsible tax practice, renewable and clean energy, environmental preservation, unlocking capital for valueadd, green businesses and social enterprises, job creation,

civic rights, gender equality, diversity and inclusion in the workplace.â&#x20AC;?

International non-profit organisation The B Team, co-founded by Richard Branson and Jochen Zeitz in 2012, established The B Team Africa in 2017 and continues to recruit Africa-based leaders to accelerate the shift toward a just and sustainable future for the continent and the world. The B Teamâ&#x20AC;&#x2122;s mission and impact to date reflect the tremendous power of the private sector to catalyse new business opportunities and solutions to diverse global challenges.

Winners Emerge in Sesema PRâ&#x20AC;&#x2122;s Pitch Competition Sesema PR, a Public Relations firm, in conjunction with the Alima Atta empowerment fund, has announced winners of the 2018 edition of the Corporate Communications Pitch Competition (CCPC), which held recently.

The winners emerged after a thorough process overseen by industry experts among who are, HR consultant, Mrs. Habiba Balogun; Management consultant; Mrs. Sade Onyia, Renowned entrepreneur; Mrs. Iyang Adesunlonye, General Manager Sesema PR; Mrs. Damilola Sobajo and head HR Sesema PR; Mrs. Mfon Bernard.

Mary Adeleye, a graduate of the Wesley University emerged winner for the PR category of the competition while Kenechukwu David Nwafor a graduate of the University of Lagos was named winner for the IT/Graphics category of the competition.

They were awarded the sum of one hundred and fifty thousand naira (N150, 000) each and 6 months paid internship.

The winners expressed gratitude for the phenomenal platform given to them to venture into the corporate communications world. â&#x20AC;&#x153;It is a very innovative platform and more than anything, the pitch competition has increased my drive for the PR world and has challenged

me to do more and be moreâ&#x20AC;?.

Mary said â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;m super excited about winning this competition.

Thank you Sesema PR for pushing me to do moreâ&#x20AC;?.

Kenechukwu said.

The company which recently marked 16 years of offering bespoke PR and corporate communications services has worked with over 100 clients in a range of sectors delivering outstanding results.

Also speaking about the event, General Manger Sesema PR, Damilola Sobajo said: â&#x20AC;&#x153;We are glad this initiative dedicated to keeping the founderâ&#x20AC;&#x2122;s legacy is still very active. We continue to create a viable platform for young graduates to fit into the corporate communications Industry. This initiative has produced a number of corporate communications professionals who are now thriving in their career. This yearâ&#x20AC;&#x2122;s edition also commemorates our 16th year anniversary and we are happy to keep impacting livesâ&#x20AC;?. She said The Corporate Communication Pitch Competition (CCPC) is one of Sesema PRâ&#x20AC;&#x2122;s youth initiatives, which is in conjunction with the Alima Atta empowerment fund aimed at identifying bright communications graduates to avail them a platform to build a career in public relations and digital communications.

SIFAX Appoints Adewale General Manager SIFAX Haulage, one of the subsidiaries of SIFAX Group has appointed Mr. Aderibigbe Adetayo Adewale as the new General Manager to run the affairs of the terminal.

The company in a statement said Adetayo possesses cross functional experience which has spanned the banking, insurance and logistics sub-sectors, with cognate professional experience

in various organisations like AIICO Insurance, Fidelity Bank, Integrated Microfinance Bank, Megaload Trucking Limited, Central Cement & Logistics Company, Garden Creations Export Limited and Chisco Transport Nigeria Limited where he was the General Manager of the companyâ&#x20AC;&#x2122;s haulage division before taking up the SIFAX Haulage & Logistics Limitedâ&#x20AC;&#x2122;s job.

WELCOME TO NPA

Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman (left) presents a plaque to the Vice Chancellor of the University of Lagos (UNILAG), Prof. Oluwatoyin Ogundipe, who paid a courtesy visit to her at the NPA Corporate Headquarters in Marina, Lagosâ&#x20AC;Śrecently

Mastercard Appoints New President for Africa Mastercard has appointed Raghav Prasad as the President of its sub-Saharan Africa division.

According to a statement from Mastercard yesterday, Prasad is expected to strengthen the companyâ&#x20AC;&#x2122;s ongoing commitment to delivering value to customers and consumers in Africa by leveraging technology to build stronger and more inclusive payment eco-systems.

It stated that the new appointment was spurred by the companyâ&#x20AC;&#x2122;s steady growth in Africa and in line with its focus on investing in the continent. â&#x20AC;&#x153;Prasad brings his extensive 30-year global financial services

and payments industry experience to further Mastercardâ&#x20AC;&#x2122;s goal of financially including 100 million people by 2020 â&#x20AC;&#x201C; an objective that can only be achieved by working with partners across the public and private sectors and by introducing market-relevant digital payment solutions such as Masterpass QR, Mastercard Payment Gateway Services along with its core Debit, Credit, Prepaid and Commercial solutions.

It stated that with proven track record as a leader, Prasad has a deep understanding of the payments sector, and brings unique insights into the region honed while running his own

consulting practice focusing on the Middle East and Africa as well as working for global players like Citibank and RBS. â&#x20AC;&#x153;The influence and true potential of technology is seen on the continent like almost nowhere else in the world.

Africa has an amazing advantage of not having invested in legacy infrastructure and can embrace the latest technologies, especially mobile, to transform the payments landscape. Technology innovation is influencing the way consumers engage with the world around them, shaping economies, creating smarter, more

connected and financially inclusive cities,â&#x20AC;? to statement quoted Prasad to have said.

Mobile continues to act as a critical conduit of growth in Sub-Saharan Africa, currently accounting for nearly a tenth of the global mobile subscriber base and is predicted to grow faster than any other region globally over the next five years. Additionally, the World Bank estimates that over 64 million adults in the region already have a mobile money account â&#x20AC;&#x201C; making it the most easily accessible technology for those currently excluded from the formal financial services sector.

Airtel Wins Pitcher Advertiser Award at Creativity Week 2018 Telecommunications services provider, Airtel Nigeria, has won â&#x20AC;&#x153;The Pitcher Advertiser of the Year Awardâ&#x20AC;? at the maiden edition of the Creativity Week in recognition of its creativity and bold attempts to create fresh and inspiring campaign.

The Pitcher Award is a highly

acclaimed event organised to celebrate and honour outstanding works in film, print, design, media, PR, digital, branded content, outdoor from West and Central Africa as well as the individuals in the industry.

The creativity deployed in the telcoâ&#x20AC;&#x2122;s campaigns particularly the â&#x20AC;&#x2DC;Lost TVCâ&#x20AC;&#x2122; earned it several

local and international accolades including Grand Prix in LAIF to Gold Awards at Epica, Emerald at African Cristal and strong reviews by AdWeek, LĂźrzerâ&#x20AC;&#x2122;s Archive and Ads of the World.

Director of Brand and Advertising, Airtel Nigeria, Enitan Denloye, received the award on behalf of the company.

The Creativity Week is a precursor to Cannes Lions Festival 2018 where Airtel Nigeria will officially represent West and Central Africa at the Festival.

Also, special awards category will include Agency of the Year, Brand of the Year, Young Pitcher Award and Best Original Work in French.

28

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

Kachukwu to Speak at Brandzoneâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;Light Up Nigeria Energy Conferenceâ&#x20AC;&#x2122;

S/N

CUSTOMER

ITEM OF IMPORT

1

RANONA LTD

SOYA FIBER CHINA

6-Apr-18

338.01

2,165.75

2

WORLDWIDE COMMERCIAL VENTURES LTD.

JOHNSON & JOHNSON PHARMACEUTICAL PRODUCTS( BENYLIN ORIGINAL 100 ML)

6-Apr-18

338.01

30,000.00

3

GMT NIGERIA LTD (FRIESLANDCAMPINA WAMCO NIGERIA PLC)

FRISO GOLD RICE

6-Apr-18

338.01

110,000.00

4

CORONATION MERCHANT BANK

PAYMENT FOR SUBSCRIPTION

6-Apr-18

338.01

17,493.95

5

CROWN FLOUR MILLS LIMITED

ANIMAL FEEDS (CONSISTING OF FISH MEAL)

6-Apr-18

338.01

15,401.40

6

CROWN FLOUR MILLS LIMITED

WHEAT LITHUANIAN MILLING WHEAT, PROTEIN (N X 5.7 DRY BASIS) MIN 14%

6-Apr-18

338.01

2,432.85

7

CBN

WHOLESALE RETURN

6-Apr-18

337.51

22,506.05

8

MINL LIMITED

INDUSTRIAL RAW MATERIALS

6-Apr-18

338.01

180,000.00

9

MINL LIMITED

INDUSTRIAL RAW MATERIALS

6-Apr-18

338.01

200,000.00

10

INTAFACT BEVERAGES LTD

BREWERY DUAL FUEL GENERATOR ACCESSORIES

6-Apr-18

338.01

100,000.00

11

GMT NIGERIA LTD (FRIESLANDCAMPINA WAMCO NIGERIA PLC)

FRISO GOLD RICE

6-Apr-18

338.01

60,000.00

12

WORLDWIDE COMMERCIAL VENTURES LTD.

JOHNSON & JOHNSON PHARMACEUTICAL PRODUCTS( BENYLIN ORIGINAL 100 ML)

6-Apr-18

338.01

20,000.00

13

CROWN FLOUR MILLS LIMITED

WHEAT LITHUANIAN MILLING WHEAT, PROTEIN (N X 5.7 DRY BASIS) MIN 14%

6-Apr-18

338.01

80,000.00

14

CBN

WHOLESALE RETURN

6-Apr-18

337.51

160,000.00

15

ARVEE INDUSTRIES LIMITED,

TOLUENE

6-Apr-18

331.50

130,000.00

16

GMT NIGERIA LTD (FLOUR MILLS NIG. PLC.)

(12,579) METRIC TONS OF LATVIAN MILLING WHEAT WITH MINIMUM PROTEIN OF 13.0% IN BULK

6-Apr-18

332.50

600,000.00

17

MIKANO INT'L LTD.

150 UNITS OF CKD GENERATORS CONSISTING OF PERKINS ENGINE & STAMFORD ALTERNATOR

6-Apr-18

330.50

400,000.00

18

LUCKY FIBRES LIMITED

POLYPROPYLENE HOMOPOLYMER HSV103

6-Apr-18

330.50

85,327.50

19

SEVEN UP BOTTLING CO. PLC

1500 UNITS OF AQUAFINA-CHEMICALS, 2100 UNITS SEVEN UP EMERALD, 500 UNITS PEPSI COLA

6-Apr-18

330.50

400,000.00

20

BHUMEE INKS & REGINS LIMITED

TOLUENE

6-Apr-18

331.50

180,000.00

21

BHUMEE INKS & REGINS LIMITED

TITANIUM DIOXIDE TR 52.

6-Apr-18

331.50

360,000.00

22

DANA MOTORS LIMITED

KIA BRAND VEHICLES IN SEMI KNOCKED DOWN -1 (SKD 1)

6-Apr-18

331.50

130,000.00

23

DASCO ENGINEERING INDUSTRIES NIGERIA LIMITED

AGRICULTURAL MACHINERY- GRINDING MILLS WITH PRIME MOVERS - FUJIMEX BRAND

6-Apr-18

331.50

61,500.00

24

EKO SUPREME RESOURCES NIGERIA LIMITED

LINEAR ALKYL BENZENE

6-Apr-18

331.50

249,293.32

25

FAREAST MERCANTILE (NEW HOME PRODUCTS INDUSTRIES LIMITED)

SCANFROST BRAND AIR CONDITIONER IN CKD FORMAT

6-Apr-18

331.50

75,000.00

26

FAREAST MERCANTILE (NEW HOME PRODUCTS INDUSTRIES LIMITED)

SCANFROST BRAND COOKER IN CKD FORMAT

6-Apr-18

331.50

267,366.00

27

FRIESLANDCAMPINA WAMCO NIGERIA PLC

BLEND MILK SOLIDS VEGFAT SUGAR BAG

6-Apr-18

331.50

431,680.00

28

INFINITY TYRES LIMITED

NEW MANATEC BRAND SKD MACHINERY FOR WHEEL ALIGNMENT / BALANCER / TYRE CHANGER

6-Apr-18

331.50

31,000.00

29

MELVYN NICKSON NIGERIA LIMITED

INDUSTRIAL RAW MATERIAL (PARAFFIN WAX)

6-Apr-18

331.50

4,000.00

30

NATURAL PRIME RESOURCES NIGERIA LIMITED

ODORIFEROUS SUBSTANCE

6-Apr-18

331.50

116,172.00

31

NATURAL PRIME RESOURCES NIGERIA LIMITED

SODIUM SULPHATE

6-Apr-18

331.50

160,000.00

32

NIGERIAN CARTON & PACKAGING MANUFACTURING

INDUSTRIAL RAW MATERIALS

6-Apr-18

331.50

10,000.00

33

OLAM SANYO FOODS LIMITED

SEASONING FOR NOODLE FLAVOUR-PEPPER CHICKEN SOUP FLAVOUR (120GM)

6-Apr-18

331.50

30,000.00

34

PROMASIDOR NIGERIA LIMITED

BULK MULTI-PLY BAGS LOYA WHOLE MILK POWDER INSTANT FORTIFIED

6-Apr-18

331.50

40,000.00

35

RANONA LTD

MONOSODIUM GLUTAMATE 'VEDAN' MEDIUM CRYSTAL

6-Apr-18

331.50

500,000.00

36

ROYAL POWER AND ENERGY LIMITED

CKD UPS SYSTEM 6KVA V MAX

6-Apr-18

331.50

10,000.00

37

ROYAL POWER AND ENERGY LIMITED

INDUSTRIAL VALVE REGULATED SEAL LEAD ACID BATTERY.

6-Apr-18

331.50

10,000.00

38

SHIVLILA POLYMERS LIMITED

PLASTIC RAW MATERIAL: PP HOMOPOLYMER HRV140

6-Apr-18

331.50

215,000.00

39

STARSONIC NIGERIA LIMITED.

INDUSTRIAL MOULDS TO BE USED IN PLASTIC MANUFACTURING.

6-Apr-18

331.50

14,000.00

40

SUNLIGHT RESOURCES LTD

CORN CURLS FOOD FLAVOUR X117 (25KG)

6-Apr-18

331.50

63,000.00

41

SUNRISE PRODUCTS LIMITED

RAW MATERIAL FOR INDUSTRIAL USE PIGMENT PREPRATION BASE

6-Apr-18

331.50

4,000.00

42

SUNRISE PRODUCTS LIMITED

INDUSTRIAL RAW MATERIAL PVC RESIN GRADE 1091

6-Apr-18

331.50

62,000.00

43

WANDEL INTERNATIONAL (NIG) LTD

MOTORIZED TRICYCLES SPARE PARTS - TVS BRAND

6-Apr-18

331.50

40,000.00

44

WANDEL INTERNATIONAL (NIG) LTD

MOTORIZED TRICYCLES SPARE PARTS - TVS BRAND

6-Apr-18

331.50

43,377.94

45

AFRICAN FOUNDRIES LIMITED

INDUSTRIAL MATERIAL - INDUSTRIAL LUBRICANT FOR BLENDING; GRADE : S3N40;

6-Apr-18

330.50

30,000.00

46

CROWN FLOUR MILLS LIMITED

WHEAT LITHUANIAN MILLING WHEAT, PROTEIN (N X 5.7 DRY BASIS) MIN 14%

6-Apr-18

330.50

47

DE-UNITED FOODS IND LIMITED

POLYPROPYLENE (PP) COSMOPLENE GRADE:FC9413L

6-Apr-18

330.50

120,000.00

48

DE-UNITED FOODS IND LIMITED

CZECH MILLING WHEAT

6-Apr-18

330.50

420,000.00

Firm Set to Fast-track CBNâ&#x20AC;&#x2122;s 80% Financial Inclusion Target

49

EXIM SATELLITE VENTURES LTD

PULP BOARD

6-Apr-18

330.50

100,000.00

50

JEBBA PAPER MILLS LIMITED

RECOVERED WASTE AND SCRAP PAPER OR PAPER BOARD - NDLKC

6-Apr-18

330.50

10,000.00

51

LUCKY FIBRES LIMITED

JUTE YARN 16/2 (28 MT)

6-Apr-18

330.50

38,080.00

52

LUCKY FIBRES LIMITED

SPARE PARTS FOR CUMMINS POWER GENERATION MACHINE - SEAL O RING

6-Apr-18

330.50

50,000.00

Emma Okonji

53

MINL LIMITED

INTERMIX PIGMENT PREPARETION FOR MANUFACTURE OF PAINTNUT BROWN

6-Apr-18

330.50

28,000.00

54

SEVEN UP BOTTLING CO. PLC

PEPSI COLA - MIXTURE OF ODORIFEROUS SUBSTANCES

6-Apr-18

330.50

600,000.00

55

YINKA OBA FAOM NIG LTD

POLYMERIC POLYOL (KE - 1900)

6-Apr-18

330.50

259,488.00

S/N

SOURCES

Minister of State for Petroleum Resources Dr. Emmanuel Ibe Kachikwu, will be delivering the keynote address at this yearâ&#x20AC;&#x2122;s Brand Innovation Light Up Nigeria Energy Conference themed â&#x20AC;&#x2DC;Repositioning The Energy Sector For Growth, scheduled for May 15th, 2018 at the Oriental Hotel, Lagos.

The annual Brand Innovation Conference is organised by Brandzone Consulting LLC, a world class, globally affiliated organisation reputed for building and managing some of the best of Nigerian international brands across diverse sectors including Oil and Gas, Banking, Automobile, Hospitality and Technology.

The Light Up Nigeria Conference Advisory Board and Conference Chairperson is the Executive Director & Co-Founder Sahara Energy Group, Tonye Cole. Other key industry thought leaders confirmed as Speakers at the upcoming conference include Mr Gabriel Ogbechie, Managing Director CEO, Rainoil Nigeria Limited, Mrs. Nkechi Obi, Vice Chairperson, Techno Oil, Prof.

Joe Ezigbo Founder and CEO, Falcon Corporation, Egnr. Dada Thomas, President Nigeria Gas Association and Founder/CEO, Frontier oil Limited, Mr Yomi Awobokun, CEO, Enyo Retail Oil and Gas, and other Chief Executive Officers of highly reputable Energy, Oil and Gas companies in Nigeria including the International Operating Companies (IOC).

The Brand Innovation Conference in its 5th year, is an annual multi-sector Thought Leadership Series created by Brandzone Consulting LLC. The conference gathers industry thought leaders, global leaders, technocrats, government policy makers, economic experts, investors, regulators and experts from diverse sectors and industries annually. So far, the yearly event has become a platform for the dissemination of accurate and beneficial narrative around the Conference focus area.

This yearâ&#x20AC;&#x2122;s conference is primarily focused on the Nigerian Energy sector.

The Energy sector has a pivotal role to play in illuminating the nation Nigeria. Besides explora-

Oradian, a financial inclusion company, is set to build its community of visionary microfinance institutions, microfinance banks and cooperative societies in West Africa. Through Oradianâ&#x20AC;&#x2122;s toolset, which includes its cloud-based core banking system, Instafin, financial institutions are enabled to grow and reach more clients with digital financial services.

The companyâ&#x20AC;&#x2122;s mission is to boost financial inclusion by delivering the tools financial institutions need to reach more clients in rural communities, supports Nigeriaâ&#x20AC;&#x2122;s goal to reach 80 percent financial inclusion by 2020 as stated by the Central Bank of Nigeria (CBN).

According to Oradian Cofounder and Head of Implementation, Onyeka Adibeli,

Ibe Kachikwu tion, production and distribution, new players have moved into other sub-sectors such as power generation, transmission and distribution. These companies are obligated by regulation to increase generation of electricity to meet the energy needs of the various sectors of the economy.

In addition, both the Liquefied Natural Gas and the Liquefied Petroleum Gas subsectors are rapidly growing with the continuous embrace of and new global laws promoting clean energy. There is recorded growth in the renewable energy market with its adoption as a key solution for tackling the global challenges of climate change and a cost-effective solution for developed and developing countries including Nigeria.

Today, both local and multinational companies in Nigeria are providing solutions such as solar powered electricity for use in both domestic and public areas.

Energy is critical to powering corporations, businesses, infrastructural projects and homes.

Strong corporate strategy, sound systems, structures, processes and deep capacity would lead to the success of the sector. This includes building strong indigenous Energy brands that can stand at par with global corporations.

The positive outlook of the Nigerian economy and the recorded growth in the Energy sector in 2017 dictates that the Energy industry is strategically repositioned. With the emerging growth opportunities within the sector, comes the need to increasingly grow local capacity, develop skills drive scale and build stronger Energy brands. The Energy sector requires to position to play a more dominant role as a development and growth catalyst for the economy, inves-

â&#x20AC;&#x153;Oradianâ&#x20AC;&#x2122;s cloud-based CBS enables financial institutions to go digital. Paired with guidance and support from our in-market teams, we are enabling the successful digital transformation and implementation of global best practice for our community of financial institutionsâ&#x20AC;?.

To accelerate financial inclusion in Nigeria and to share best practice for going digital with cloud technology, Oradian will host a dinner event in Lagos as part of the Africa Banking and Finance Conference on April 10 2018.

The event is designed to bring leaders of financial institutions, regulatory groups, financial inclusion experts, the Central Bank and fintech providers together to build strategic partnerships that will boost financial inclusion in Nigeria and West Africa at large.

Chizor tors, businesses and individuals.

The sector would therefore benefit from effective integration of opportunities across the sector value chain, development of strong strategic frameworks around every tenet of business, consolidation of knowledge, skills, experiences and expertise to maximize the industry growth potentials. The Light Up Nigeria conference is designed to draw industry experts across the various sub-sectors to share insights and knowledge on industry growth topics, collaborate and deliberate on timely relevant issues that would help to unlock opportunities for growth in power generation, transmission and distribution. It is structured to stimulate the downstream sector growth, drive energy availability through increased natural gas optimization, and the provision of power to enterprises. It would also explore the opportunities in building strong Energy brands as a lever for overall sector growth and national development.

As Nigeriaâ&#x20AC;&#x2122;s most influential industry conference, the annual Brand Innovation Conference is a transformation platform that leverages its extensive network of experienced and accomplished speakers for knowledge sharing, proffer solution to issues of national and economic development while building a networking platform that fosters collaboration and growth.

Speaking on the conference, Managing Partner and Chief Executive Officer of, Brandzone and Convener of the conference, Chizor Malize noted: â&#x20AC;&#x153;Energy plays a crucial role in the economic growth, progress, and development, as well as poverty eradication and security of any nation.

The event will connect the private sector, public sector and financial services regulators.

The Chief Executive Officer and Co-founder of Oradian, Antonio Separovic, said: â&#x20AC;&#x153;Strategic partnerships within the digital ecosystem are proving to be the most effective way to enable our customers to provide better service to their end-clients.â&#x20AC;?

Oradian is demonstrating the value of strategic public-private partnerships in Southeast Asia with the Asian Development Bank (ADB) and Cantilan Bank, one of the top rural banks in the Philippines. Backed by a $150,000 ADB grant, Cantilan Bank will use Oradianâ&#x20AC;&#x2122;s toolset to demonstrate how cloud technology can unlock financial opportunities by providing access to financial services for hard-to-reach individuals in rural areas.

DATE OF FUND PURCHASE

DATE OF FUND PURCHASE

EXCHANGE RATE

USD AMOUNT

1

PROVIDUS

4-Apr-18

306.15

65,000.00

2

CBN

6-Apr-18

337.51

200,000.00

3

CBN

6-Apr-18

337.51

800,000.00

4

CBN

6-Apr-18

331.00

130,000.00

5

CBN

6-Apr-18

332.00

600,000.00

6

CBN

6-Apr-18

330.00

400,000.00

7

CBN

6-Apr-18

330.00

485,327.50

8

CBN

6-Apr-18

331.00

3,107,389.26

9

CBN

6-Apr-18

330.00

3,455,568.00

1

TOTAL AMOUNT

9,243,284.76

2

AVERAGE AMOUNT

1,027,031.64

EXCHANGE RATE

USD AMOUNT

1,800,000.00

29

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

TI: IMOâ&#x20AC;&#x2122;s Weak Governance to Stall Climate Change Action Stories by Eromosele Abiodun Transparency International (TI) has stated that weak governance at the International Maritime Organisation (IMO) was delaying the shipping sectorâ&#x20AC;&#x2122;s action on climate change.

The anti-corruption organisation in a report said the policymaking process at the United Nations (UN) body is impacted by the private shipping companiesâ&#x20AC;&#x2122; concerns, undermining its ability to effectively regulate greenhouse gas (GHG) emissions from maritime trade.

Some of the findings of the report indicate that journalists are unable to report freely on IMO meetings and that non-profit organisations with a consultative membership in the UN body can face expulsion if they criticise the agency or report on country views.

Furthermore, TI said countries like Panama, Liberia, the Marshall Islands, Malta and the Bahamas, many of which are known as tax havens for ships, contribute 43.5 per cent of the total funding from the IMOâ&#x20AC;&#x2122;s 170 member states.

The majority of the worldâ&#x20AC;&#x2122;s commercial fleet (52 percent) is registered in the said five states.

TI believes that these countries potentially have exaggerated weight in the IMO policymaking processes, particularly when no mechanism exists to protect against undue influence.

The report, which will be

published in full in May 2018, further said that company employees have dominated some IMO delegations as governments are able to appoint employees of corporations, including shipping companies, to their delegations.

These private-sector delegates, it added, can determine their governmentâ&#x20AC;&#x2122;s position on IMO policy and are neither subject to conflict of interest rules nor to a code of conduct.

The report, however, noted that even in the absence of a comprehensive access to information policy, transparency about the IMOâ&#x20AC;&#x2122;s administration is high, and that information about the remit, powers and rules of procedure of its assembly, council and committees is easily accessible. â&#x20AC;&#x153;The IMO was assigned the task of limiting and reducing emissions from shipping under the Kyoto Protocol back in 1997,â&#x20AC;? said Brice BĂśhmer, Coordinator of the Climate Governance Integrity Programme at Transparency International. â&#x20AC;&#x153;However, it took until 2016 for the IMO to even agree on a roadmap towards an initial strategy, due in 2018, and a revised strategy, due only in 2023.

A well-functioning organisationâ&#x20AC;&#x2122;s governance structure should enable decisive action, but the governance flaws identified by our research suggest that this is not happening at the IMO because policy-making could be overly controlled by private companies, â&#x20AC;?he said.

Illegal Mining: Muâ&#x20AC;&#x2122;azu Charges Task Force on National Assignment Kasim Sumaina in Abuja The Permanent Secretary, Ministry of Mines and Steel Development, Dr. Abdulkadir Muâ&#x20AC;&#x2122;azu has appealed to the members of the Special Mines Surveillance Taskforce (SMSTF) on illegal mining drawn from the Nigeria Police, the Nigerian Customs, DSS, EFCC, Nigerian Security and Civil Defence Corp and the Zonal Mines Offers in the States to avoid the temptation of compromising the objectives of the assignment given to them by conniving with illegal miners or cover up.

Muâ&#x20AC;&#x2122;azu in a statement by the Ministry on Wednesday in

Abuja, made the appeal at the opening session of the second phase training of members of the Special Mines Surveillance Taskforce (SMSTF) on illegal mining organised by the Ministry in Jos, Pleateau State.

The training he hinted, was structured in three phases and the first phase was held in January this year. Muâ&#x20AC;&#x2122;azu in his address at the opening session stated that the training was aimed at enlightening and educating the Taskforce on what constitutes illegal mining as contained in the Nigerian Minerals and Mining Act, 2007, its ancillary Regulations 2011, Explosives of 1964 and Regulations of 1967

respectively.

Speaking through his representative, the Director of Mines Inspectorate, Karnap Wuyep, the Permanent Secretary stated that the Taskforce was established in 2012 with membership drawn from relevant Ministries and Security Agencies.

According to him, â&#x20AC;&#x153;The Taskforce is charged with the responsibility of curbing illegal mining, reducing environmental degradation and plugging of revenue leakages amongst others. It is structured into short, medium and long term targets to achieve its mandate and one of the medium term targets is the training of the Taskforce

on relevant aspects of mining particularly mining legislations, mineral identification.â&#x20AC;?

He assured the participants that the ministry based on the available budgetary allocation and other intervention funds would provide relevant logistics and funds needed to accomplish their assignment.

He also enjoined them to use the knowledge and skills acquired for proper minefield monitoring and surveillance to curb illegal mining across the Federation.

In his paper, David Awojobi said: â&#x20AC;&#x153;Special Mines Surveillance Taskforce, functions of the SMSTF, illegal mining and its menace and SMSTF Terms of Reference.â&#x20AC;?

NPA to Assist UNILAG With CSR Projects The Nigerian Ports Authority (NPA) would make adequate provision in the 2018 budget to meet some of the urgent requirements and needs of the University of Lagos Community under its Corporate Social Responsibility (CSR) initiative, the Managing Director of NPA, Hadiza Bala Usma has said.

Bala Usman stated this when she received a delegation from the University of Lagos led by the Vice-Chancellor, Professor Oluwatoyin Ogundipe, who paid her a courtesy call in her

office.

The NPA boss said the University of Lagos deserves to be assisted in the CSR initiative considering the deplorable condition of its amenities and as one of the premier universities in the country.

Ogundipe had earlier in his speech appealed to the management of NPA to intervene in the rehabilitation and reconstruction of some dilapidated structures in the College of Medicine and supply of portable water for the use of the University Community,

through the CSR initiative of the Authority.

While expressing the willingness of the authority to assist within budgetary limitation, Bala Usman directed the University Authority to forward all the necessary details on the projects for analysis and consideration.

She pointed out that the Authority is desirous of collaborating with the University in the areas or capacity building for the organisation workforce.

Ogundipe had also told the Managing Director that the NPA

should take advantage of the Maritime programme presently available in the University for its Staff and officers.

The Vice-Chancellor, who suggested that the NPA could consider sponsoring a Professional Chair in the University, also recommended that the Authority could also consider sponsoring customised course to be specially designed for its staff, as done to other maritime agencies in the country, under the institute for Maritime studies of the University.

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30

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

FG Warns Nigerians on Dangers of Imported Rice Eromosele Abiodun The federal government has alerted Nigerians of the unhealthy status of smuggled imported rice being dumped in the country and cautioned against their consumption.

The Minister of Information and Culture, Lai Mohammed, who gave the advice at a press conference in Lagos, said the agricultural revolution in general and the rice revolution, in

particular, have taken millions of Nigerians out of poverty.

He said 60 per cent of rice eaten in Nigeria is produced in Nigeria, adding that the rice revolution alone is enough to guarantee re-election for President Buhari, if he decides to run again.

Nigeria, the minister added, has never been closer to selfsufficiency in rice, a national staple, than now.

He appealed to Nigerians to

complement the efforts of the government by consuming only locally-grown and processed rice which he said â&#x20AC;&#x153;is fresher, tastier and healthierâ&#x20AC;&#x2122;â&#x20AC;&#x2122;.

According to him, â&#x20AC;&#x153;We donâ&#x20AC;&#x2122;t know where or how imported rice is made or how old it is.

It is reported that most of the rice dumped on us are old and probably rejected. The citizens of those countries do not eat this rice. The citizens of Benin also do not eat it. But they send

it to us. Unhealthy foods are dangerous to health. So letâ&#x20AC;&#x2122;s eat what we can vouch for.â&#x20AC;?

The minister stressed that rice smuggling was the biggest challenge facing rice production in Nigeria.

Quoting the Rice Millers Importers and Distributors Association of Nigeria (RIMIDAN), he said more than two million metric tonnes (MT) of parboiled rice were smuggled into Nigeria in 2017.

He said smuggled rice was primarily sourced from Thailand and India and came into Nigeria through the countryâ&#x20AC;&#x2122;s borders with Benin, Niger and Cameroon.

He said: â&#x20AC;&#x153;In Benin Republic, the total demand for white rice (white rice is consumed in Benin, against parboiled rice in Nigeria) is 400,000 MT. Yet the country, with a population of about 11 million imports between one million and 1.2m MT of rice

annually. â&#x20AC;&#x153;Who are they importing for?Nigerians of course. In fact, as Nigeriaâ&#x20AC;&#x2122;s rice import falls, Beninâ&#x20AC;&#x2122;s rice import increases. Most of the parboiled rice imported by Benin eventually lands in Nigeria through smuggling.â&#x20AC;?

The minister said that smuggled rice costs between N11,000 and N13,000 per 50kg bag, while Nigerian processed rice sells for between N14,500 and N15,000 per 50kg bag.

Ericsson Emerges OSS Leader for Sixth Consecutive Time Stories by Emma Okonji Gartner has, again, placed Ericsson in the leaders quadrant of the Magic Quadrant for Operations Support Systems (OSS). Ericsson maintains its position as a leader for the sixth consecutive time.

The company was also named a Leader in the Magic Quadrant for Integrated Revenue and Customer Management in 2017.

OSS has become incubators for communication service providers as they shift from traditional operations to becoming digital service providers. In its 2018 report, Gartnerâ&#x20AC;&#x2122;s Magic Quadrant positions â&#x20AC;&#x153;solutions that provide billing, customer care, rating, charging, pricing, partner relationship management, policy management, mediation, self-service, analytics and other related functions.â&#x20AC;?

From the Gartner report, â&#x20AC;&#x153;The ongoing current evolution toward digital infrastructure operations paves the way to the next big evolution in the industry: a fully automated, highly configurable, self-orchestrating horizontal software layer that supports hybrid physical and virtual resources. Over time, this new software-defined networking (SDN)-/network function virtualisation (NFV)-driven OSS execution layer (OSS orchestra-

tion) will replace current service layers. Leading vendors in this Magic Quadrant cover both the traditional OSS and the new OSS orchestration architectures in the form of SDN/NFV orchestration solution capabilities.â&#x20AC;?

Ericssonâ&#x20AC;&#x2122;s OSS solutions are helping digital enterprises worldwide to govern, manage and orchestrate hybrid networks holistically and in real time, turning legacy networks into elastic infrastructures that are lightweight, programmable and endlessly adaptable.

Head of Solution Area OSS, Ericsson, Mats Hellman, said: â&#x20AC;&#x153;We believe that the Gartner Magic Quadrant reports validate our strategic focus on digital transformation, and key industry challenges, such as IoT and 5G. We feel that, with Ericssonâ&#x20AC;&#x2122;s approach, customers succeed through analytics driven, automated network operations as well as our unwavering commitment to digitalisation and 5G.â&#x20AC;?

In 2017, Ericsson was also named a leader in Gartner Magic Quadrant for Integrated Revenue and Customer Management for CSPs based on its ability to execute and completeness of vision. That was the fourth year in a row that Ericsson received the recognition for its IRCM suite.

Packaging Firm Showcases Innovative Tech at Exhibition Sona Group of Industries participated in the recently held Nigeria PlastPrintPack 2018 and was represented by three of its subsidiary companies namely Shongai Technologies Ltd, Shongai Packaging Industries Ltd and Techblow Nigeria Ltd. According to the Group Managing Director, Sona Group of Industries, Mr. Ajai Musaddi, Nigeria is being recognised as next global manufacturing hub.

This is coupled with increased popularity of Plastics packaging over glass especially in pharmaceutical and FMCG industries.

Packaged foods such as biscuits, meat pie, chinchin, plantain chips, groundnuts, cashew nuts, etc have seen increased demand following the 40% growth of organised retail outlets in the last five years. Lastly most ECOWAS (Economic Community of West African States) countries depend on Nigeria for their plastic needs.

Musaddi stressed that the

fair provided the company the opportunity to relate with consumers and other industry stakeholders who are trying to improve on the packaging of their food products. Our motto â&#x20AC;&#x153;World Class Quality Products at Affordable Priceâ&#x20AC;? is what we wanted every person who came in contact with us to take back home.

We have facilities providing state of the art products from labels, laminates, monocartons, to table, chair, buckets, containers from 0.5 Lt to 50Lt, and drums up to 250Lts to count a few.

In his words: â&#x20AC;&#x153;This Exhibition has given us the best opportunity, to make the people aware of our state of the art technologies, so that they can get the best out of it.â&#x20AC;?

He further added: â&#x20AC;&#x153;We are one of the biggest suppliers of the pallets to a lot of food & beverages companies. By providing high quality pallets we are creating a win-win situation for everyone around us.

MEETING WITH STAKEHOLDERS

L-R: Group Managing Director, Ibeto Group Limited, Chief Cletus Ibeto; Chief Executive Officer, Union Bank, Emeka Emuwa; Renowned Diplomat, Politician and Author, Chief Oseloka Obaze and Executive Director, Corporate and Investment Banking, Union Bank, Emeka Okonkwo at a forum organised for Union Bankâ&#x20AC;&#x2122;s customers and stakeholders in Onitsha, Anambra state... recently

9mobile Customers to Enjoy Lowest Roaming Rates in USA t1BSUOFST "5 5 "NFSJDB T MFBEJOH NPCJMF OFUXPSL One of Nigeriaâ&#x20AC;&#x2122;s most innovative and customer-friendly telecommunication companies, 9mobile, has revved up the market once again by offering customers visiting the United States of America another superlative package that enables the lowest call, text, and data rates while in the USA. For as low as 50 Naira per minute, 9mobile customers can now stay connected with loved ones on the newest â&#x20AC;&#x2DC;9mobile Super 50 Offerâ&#x20AC;&#x2122;.

This rate is currently the lowest offered by any Nigerian network operator to customers traveling to the USA. Amongst the unique features of 9mobile Super 50 Of-

fer is local calls within the US and calls to Nigeria are charged at N50 per minute; incoming calls at N50 per minute; SMS at N50 per page, while PAYG data is now N50/MB. Speaking on the offer, Director, Consumer Segment, 9mobile, Adeolu Dairo, reiterated that the roaming package affords 9mobile subscribers the opportunity to stay connected with family, friends and business partners while in the USA as the package enables them to continue to enjoy seamless and affordable connectivity on voice, data, and text on the go.

He noted that 9mobile Super 50 Offer is for new and existing

customers who have hitherto been concerned with exorbitant connectivity bills when visiting the US. â&#x20AC;&#x153;Many traveling customers believe roaming in the US is expensive and can only be afforded by the rich, and this has led to some roaming customers relying solely on WiFi when abroad; thereby limiting their ability to remain connected.

Dairo revealed further that 9mobile and its U.S. partner AT&T are making the offer available to customers on AT&T roaming in Nigeria and 9mobile customers roaming in the USA; in his words, â&#x20AC;&#x153;This package is not just about lowest rates, it is also driven by care for our

subscribers â&#x20AC;&#x201C; bringing people together no matter where they are and ensuring that they stay connected to their family, friends, loved ones, and business partnersâ&#x20AC;?.

In addition, 9mobile is offering a hybrid data bundle that affords its subscribers the opportunity to enjoy data either locally or in the US. All that is needed to enjoy 7.1GB of data in Nigeria or 200MB while roaming in USA, is to dial the activation code *4184*1# at a cost of N5,000 with 30 daysâ&#x20AC;&#x2122; validity.

With this value-adding and unbeatable offer, customers can stay connected to the 9mobile network while in the US.

Matrix Rolls Out Affordable, Pre-owned iPhones Nationwide Matrix Certified Pre-Owned, a pioneer of trade-in services in the Nigerian mobile industry, has officially rolled out a wide range of pre-owned iPhones, providing access to high-end devices for millions of Nigerians previously hampered by the considerable cost of purchasing the brand-new models.

Among the pre-owned devices that have already gone on sale across the country are a range of Apple devices including iPhone 7+, iPhone 7, iPhone 6s+, iPhone 6s, iPhone 6+ and iPhone 6, among others.

The devices are available for purchase nationwide online

on the Matrix website, www. matrixpreowned.com and onsite at the Matrix Store at the Computer Village, Ikeja, Lagos. The devices, which come with complimentary accessories and one-year warranty, are also available for purchase in select partner stores. Among the partner stores where the devices can be purchased are MTN, Yudala, 9mobile, Konga, Harmony Real Plus Ltd at Ikeja City Mall, XRight and DAX. Orders can also be processed instantly at order. matrixpreowned.com The Chief Executive Officer, Matrix Certified Pre-Owned,

Dimeji Matesun, said: â&#x20AC;&#x153;The company is in the forefront of expanding access to Nigerians and boosting the pace of smartphone penetration in the country. â&#x20AC;&#x153;Today, many Nigerians can now afford to own an iPhone, courtesy of Matrix. This would probably be significantly more difficult if they had to put up the huge sums required to buy a new device. Matrix pre-owned devices are secure, genuine, affordable and come with one-year warranty with full technical and customer service support.â&#x20AC;? â&#x20AC;&#x153;Smartphone penetration in Nigeria is also bound to grow

exponentially as a result of the value we are bringing on board. Through these quality pre-owned devices, millions of Nigerians caught in the feature phone segment will find a cost-effective way to upgrade to smartphones and this in turn will have a positive multiplier effect on their lives and the digital economy as a whole,â&#x20AC;? he said.

Matrix, it was gathered, is also offering access to the preowned devices for Nigerians in all parts of the country, with negligible delivery costs expected to be borne by the customer.

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Reviving Nigeriaâ&#x20AC;&#x2122;s Steel Industry Frederick Owonka, writes on the need to revitalise the steel sector for economic growth Thanks to corruption, poor management, sponsored sabotage and fake news / barriers created by competitors/importers afraid of competition, professional litigants, many Nigeriaâ&#x20AC;&#x2122;s industrial initiatives have either collapsed or were abandoned. Nigeriaâ&#x20AC;&#x2122;s steel industry is one of the key economic sectors abandoned by the past administrations in the country, and no reasonable government can afford to see such huge investments go into waste.

Since the Buhari administration was elected into office in 2015, the country has witnessed a rigorous and well - focused commitment to revive the countryâ&#x20AC;&#x2122;s abandoned industrial projects.

The steel industry is one of the major pillars of Nigeriaâ&#x20AC;&#x2122;s economic diversification efforts. Undoubtedly, the Buhari administration has demonstrated real commitment to this national endeavour.

Local production of steel will significantly reduce Nigeriaâ&#x20AC;&#x2122;s importation of steel and save Nigeria a minimum of US$3billion dollars in foreign exchange per year. In a world that has grown furiously competitive, no nation can afford to rely on one export commodity.

It is, in fact, no longer safe for Nigeria to depend entirely on oil as the main revenue earner.

One of the key objectives of privatisation is the desire to achieve efficiency and profitability. Besides, the success or failure of privatisation also depends on the technical experience and competence of the investors taking over public enterprises.

Premium Steel and Mines Limited, fully owned by Nigerians with 50 years of successful track record in key sectors & major Industries of the economy is making impressive progress in terms of achieving Nigeriaâ&#x20AC;&#x2122;s economic diversification initiatives.

According to the Managing Director and CEO of Prasantra Mishra, Premium Steel and Mines Ltd, will produce 50 per cent of Nigeriaâ&#x20AC;&#x2122;s steel needs in the first

Fayemi

phase of manufacture.

With its facility at Ovwian, Aladja, Delta State, the company has pledged to meet more than 50 per cent of steel products need during the first phase of production. Premium Steel has been allocated Iron ore mines in Kogi and will commence mining soon. Mr. Mishra, who announced this at the official commissioning of the steel and mining facility, said it was high time â&#x20AC;&#x153;Nigeria, sustainably and inclusively converged with the rest of the world to enhance

industrial and GDP per capita income.

Mr. Mishra explained: â&#x20AC;&#x153;We are touching the lives of the local communities, particularly through accessible and affordable healthcare, employment, women empowerment, education and sustainable development.

It is not enough for investors to make profits, but they should also make positive impact on the lives of the communities where they serve. In line with this objective, Mr. Mishra noted that his company is committed to Nigeriaâ&#x20AC;&#x2122;s

industrial and economic revolution to lay the foundation of efforts to address poverty and inequality by creating job opportunities, and wealth creation.

The former Delta Steel Company, which was estimated to produce 1.2 million tons of various steel products per annum, is currently being ably and efficiently run by Premium Steel and Mines Ltd. Backed by sound experience, these Nigerian investors have remarkably transformed the former Delta Steel Company into modern industrial success story. The company is now retooled with state-of-the-art equipment and â&#x20AC;&#x153;it is ready for competitive production as the wheels spin once againâ&#x20AC;?.

Ranked as one of Nigeriaâ&#x20AC;&#x2122;s best steel mills to produce the BS 4449 grade steel, Premium Steel has the capacity to produce high capacity and quality products to be used for high-rise buildings, bridges, flyovers, malls due to its tough mechanical and remarkable strength. No less important government support is essential to the success of the investors Mr. Mishra praised the Buhari administrationâ&#x20AC;&#x2122;s industrial transformation agenda, describing it as the â&#x20AC;&#x153;prerequisite for economic development and sustained per capita income. He also recognised the dynamic leadership style, guidance and support of the Minister of Mines and Steel Development, Dr. Kayode Fayemi for what he called Fayemiâ&#x20AC;&#x2122;s â&#x20AC;&#x153;strong initiative.â&#x20AC;?

According to Dr. Fayemiâ&#x20AC;&#x2122;s Road Map for development, his Ministry is capable of contributing $27 billion dollars to the countryâ&#x20AC;&#x2122;s GDP. According to Fayemiâ&#x20AC;&#x2122;s road map, Nigeria aspires to be Africaâ&#x20AC;&#x2122;s mining mineral processing centre for 2016 and in 2020; it seeks to make Nigeria compete in the global market for refined metals and minerals from 2018 to 2030 with the ultimate goal of achieving globally competitive mining sector.

-Frederick Owonka wrote from Asaba, Delta State

Presco Plc Targets 15,000 Hectares, Hails Govtâ&#x20AC;&#x2122;s Focus on Agric Presco Plc, a palm oil producing firm, has set aside 15,000 hectares for cultivation in Edo State as part of its ongoing expansion drive. The Managing Director of Presco Plc, Mr. Felix Nwabuko, who disclosed this while speaking to journalists, noted the company has cultivated its new 3600 hectares in Orhionmwon Local Government.

He explained that this year the company intends to plant on 4000 hectares, saying, â&#x20AC;&#x153;If we can do 100, 000 hectares in Edo State, we will do it.â&#x20AC;?

According to him, the companyâ&#x20AC;&#x2122;s 15,000 hectares expansion project is as a result of the far-reaching reforms being implemented by the Edo State Government in the agriculture sector. â&#x20AC;&#x153;The deliberate effort and reforms initiated by the Godwin Obaseki ledadministration and the federal government, to prioritise agriculture as an alternative means to derive economic growth, are highly commendable.â&#x20AC;?

He lauded Governor

Obasekiâ&#x20AC;&#x2122;s initiative to make land available for investors, who are ready to invest in the people and other resources in Edo State. â&#x20AC;&#x153;I am excited that the state government is mapping out land through the Geographic Information Service (GIS) initiative, for allocation of land for investors who mean business in the state. We expect that state government would speed up the process,â&#x20AC;? Nwabuko said. â&#x20AC;&#x153;In 2016, we decided to expand on three areas, all of which complement

the policies of the state and federal government on agriculture. The areas include; import substitution, as every additional ton of what we produce as we expand will limit what the country imports,â&#x20AC;? he added.

Explaining that creating alternative means of driving sustainable economic growth other than proceeds from crude oil is a bold step, he said: â&#x20AC;&#x153;The initiative to focus on agriculture reforms to drive economic growth is noble as it becomes important that

government realises that agriculture is key to sustainable growth.â&#x20AC;?

The Presco boss, who is a member of the Edo State Agriculture Committee, noted, â&#x20AC;&#x153;I am privy of the policies and efforts of the Obaseki ledadministration on agriculture reforms capable of sustaining the economy and serving as means of job creation even far into the future.â&#x20AC;? â&#x20AC;&#x153;It is important that governments focus on agriculture, despite Nigeriaâ&#x20AC;&#x2122;s huge crude oil reserve, the pattern of

usage and other factors can upset the value of crude oil which may spell doom for an economy which depend largely on the proceeds to spur economic growth.â&#x20AC;? â&#x20AC;&#x153;But considering the impact of agriculture, one has to consider the fact that agriculture has been with man and will remain with man till the end. So, it is a right decision to prioritise agriculture and pay attention to the sector to drive economic growth the way government is doing now.â&#x20AC;?

NestlĂŠ Reaffirms Commitment to AgricultureValue Chain Devt NestlĂŠ Nigeria has restated its commitment to boosting the agricultural value chain.

Speaking to journalists at the Investors Forum in Ogun state recently, Mr. Mauricio Alarcon highlighted the pivotal role that Ogun State, host to two of the companyâ&#x20AC;&#x2122;s three factories in Nigeria, plays in its business.

He said that NestlĂŠ continues to contribute to the development of the country through job creation, capac-

ity building and community development.

Furthermore, he stated that in addition to these contributions to the state, the company continues to seek opportunities to increase local sourcing of raw materials from the state. â&#x20AC;&#x153;Our collaboration with Ogun State does not end with job creation and community development. NestlĂŠ has been working with the state through the Honourable Commissioner of Agriculture, Mrs. Adepeju

Adebajo to explore opportunities for increasing local sourcing of agricultural raw materials including cassava, from the state,â&#x20AC;? he said.

NestlĂŠ Nigeria was a sponsor of the 4th edition of Ogun State Investorsâ&#x20AC;&#x2122; Forum, which focused on consolidating the gains of the present administration and accelerating growth. The event brought together the government, leaders of industry and other stakeholders to discuss growth

opportunities.

In his opening speech, the Governor of Ogun State, Senator Ibikunle Amosun explained that his government has laid a solid foundation for socio-economic development through exploration of various value chains including Agriculture, Industry and Technology. Amosun reiterated his governmentâ&#x20AC;&#x2122;s resolve to encourage backward integration and agricultural import substitution.

Speaking on the Feed Nigeria, Feed Africa: Completing the Value Chain panel, Alarcon highlighted areas of potential collaboration between government and the industry to accelerate development of the agriculture value chain. â&#x20AC;&#x153;There are thousands of farmers in Nigeria, 360,000 in Ogun State alone, with relatively low output while the industry has a huge need. To achieve real success with connecting farmers to industry, the aggregators,

processors, and logistics must also be considered within this value chain,â&#x20AC;? he said.

Alarcon emphasised that grouping smallholder farmers into co-operatives or via Aggregators makes it easier to work with farmers. Aggregation, he said, would facilitate the farming process from distribution of high quality seeds, to training farmers on good farming practices and postharvest handling to improve crop quality and reduce losses.

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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;

Fighting Cultism Okon Bassey, in this report, writes on the measures taken by the Akwa Ibom State Government to contain cult-related activities in the state

Akwa Ibom State governor, Chief Udom Emmanuel (3rd right), his deputy, Mr. Moses Ekpo, state Police Commissioner, Mr. Adeyemi Ogunjemilusi (standing), addressing stakeholders at the Etim Ekpo peace meeting

There are cultists in secondary and primary schools in the state. We cannot hide that. Security agencies have identiďŹ ed that. That is why the governor is interested in the safety and well-being of the society. That is why the governor is so angry and decided to take this step. If we allow this to continue to build up from a strong foundation in children as low as primary and secondary schools then we are mortgaging our future and will live under threat

W

orried by the activities of cult groups in Akwa Ibom State, the state Governor Udom Emmanuel recently passed an order proscribing 33 identified cult groups in the state. Out of this number, 14 groups including Vikings; Black Axe; KKK; Buccaneers, Mafia, Luttox (Junior Black Axe); Debam; Dewell; Icelanders; Red Skins; Pirates; Amoc; Akwa Marines; and Utoto Groups (419), were said to have been operating in some communities in the state while 19 cult groups namely the Luttox; the Red Skins; St. Stephens; Dewell; Sept 11 Group; Secret Sons of Satan; King Cobra; J.V (Junior Vikings); Bats; Predators; Black Ladies; Black Cross; Scavengers; Skylolo; Sons of Nights; Blood Brotherhood Junior Buccaneers; White Angels; and Musket; operated at secondary and primary school levels in the state.

In outlawing the groups, Governor Emmanuel stressed that it was in the exercise of the powers conferred on him by Section 70 of the Criminal Code Law, Cap 38, Vol.2, Laws of Akwa Ibom State 2000 and all other powers enabling him in that behalf, declaring illegal and proscribing forthwith cults, groups, or societies in the secondary and primary schools in the state.

He maintained that the activities of all cult, society or group identified by the order â&#x20AC;&#x153;are hereby prohibited and defaulters shall be prosecuted in accordance with the Cultism, Offensive Weapons and Violent Behaviour (Prohibition) 2004, or any other enabling law in that regard.â&#x20AC;?

The governor explained that the order may be cited as the Cultism and Other Violent Behavior (Prohibition) Order, 2018 and shall come into force on the 12th day of March 2018; indicating that the order re-energises the already existing criminal code law, Cap 38 Laws of the state.

Emmanuel said the security issues reported recently in Ika, Etim Ekpo and Ukanfun local government areas necessitated this and other security measures put in place. According to him, although only three local government areas have security flashpoints, the law was binding and would be effected in all the 31 local government areas of the state.

In stepping up the fight against cultism and cult-related violence and killings in the state, the state governor in addition to the proscription order on the 33 cult groups in the state also announced the imposition of curfew on Etim

Akwa Ibom governor, Chief Udom Emmanuel...has zero tolerance for cultism

Ekpo and Ukanafun local government areas because of the high number of killings in the areas. Residents in the areas are to stay indoors between 6.00 p.m. and 7.00 a.m. daily. The government, which said the ban on motorcycles in Uyo metropolis was still in force, also banned the use of motorcycles in Etim Ekpo, Ukanafun, Ika, Ikot Ekpene LGAs between the hour 6.00 p.m. and 7.00 a.m. daily; warning that anyone who violates the ban will be prosecuted until further notice.

Apart from the curfew and ban on motorcycles, Emmanuel again followed it up with a town hall meeting at Etim Ekpo with the heads of various security operatives and the people of the affected LGAs where he further discussed the security crisis in the areas. At the meeting, the governor was desirous of ensuring a restoration of peace, security and order in all the affected LGAs to pave way for development and growth of indigenes of the areas. To avoid further security challenges in the areas, the governor urged would be

aspirants in the forthcoming 2019 elections to avoid any form of insistence, if not favoured by the internal zoning arrangement of the area, for fear of unduly heating up the polity. â&#x20AC;&#x153;If you know zoning does not favour you, please donâ&#x20AC;&#x2122;t bother spending money, donâ&#x20AC;&#x2122;t tell me you sold your house and properties to contest for election, I am saying it now so you donâ&#x20AC;&#x2122;t say you did not hear.â&#x20AC;?

Emmanuel repeated himself again at the 8th matriculation ceremony of the Akwa Ibom State University (AKSU), Ikot Akpaden, Mkpat Enin LGA where he insisted that the state governmentâ&#x20AC;&#x2122;s position on the fight against cultism and other related vices was not open to negotiation; maintaining that anyone found guilty of involvement in cult activities, however highly placed the individual may be, must face the full wrath of the law.

For some years now the activities of the cult groups had been more alarming specifically in Ika, Etim Ekpo Ukanufun, Orok Anam axis of Ikot Ekpene Senatorial District of the state. Before now there was no week that issues bordering

on kidnapping, killing and clashes among cult groups were not reported in those LGAs. Reports had it that more than 100 people have been killed in various cult wars and cult-related issues in the areas. Hitherto, areas were like ghost towns as most of the indigenes refused going home for fear of being attacked or killed while those who resided in their areas sought refuge in neighbouring LGAs. A commercial driver was recently burnt to death along Etim Ekpo-Iwukem-Abak Highway when suspected cultists attacked and robbed his bus, while the male passengers were shot the female passengers were abducted. In November, last year, gunmen stormed the Ukanafun country home of the then Commissioner for Local Government and Chieftaincy Affairs in the state, Udo Ekpenyong, his younger sister and two more persons were killed by the gunmen while escaping. A village head, an Apostolic Church pastor and an INEC officerâ&#x20AC;&#x2122;s wife had also been abducted but released on payment of ransoms; security operatives equally lost their lives in the fight against cultism in the areas

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among other high profile cases of cult issues.

The issue of cult scheming became so frightening that some politicians and top government officials were being accused or fingered in having hands in some of the killings tagged as political. This, the State Attorney General and Commissioner for Justice, Barrister Uwenedimo Nwoko in an interview dismissed such insinuations and the claims that only cultists were given appointments or contracts by the state government. â&#x20AC;&#x153;Let me be very straight, I, Uwenedimo Nwoko can tell you clearly without any equivocation and with all sense of responsibility that I am not a cultist and I will never be, I hate it.

It is not true that if you are not a cultist you cannot occupy any position in government and the governor cannot say there are no cultists in his government it might be very minute,â&#x20AC;?

Nwoko said; adding that even among the security operatives there are cultists. â&#x20AC;&#x153;The governor of this state (Akwa Ibom) is 100 per cent a Christian; he is not a political Christian. That is why he is taking this step to disassociate government from any kind of things to encourage cultism in Akwa Ibom,â&#x20AC;? he added.

He vowed that with the direct commitment of the state governor to eradicate cult activities, the state government is going to fight it to the end; stressing that anybody who believes that until he uses cultists to win an election was on his own because he will not have the support of the governor. â&#x20AC;&#x153;And let me say that if the governor had it on good record that a particular person is patronising cultism because of his re-election, that person may find it very difficult to work directly with the governor. By the order that cultism, violent behaviour and all such activities are banned in Akwa Ibom State shows that the governor doesnâ&#x20AC;&#x2122;t care whether you are his supporter or not. Anybody capable of doing anything to undermine this exercise will come in direct collusion with the governor and the law,â&#x20AC;? Nwoko stated. The commissioner called on everybody in the state, churches, communities, and youth groups to support the governorâ&#x20AC;&#x2122;s efforts to fight and contain cult activities in the state.

He said it was a serious issue to note that cultists equally exist in secondary and primary schools in the state. â&#x20AC;&#x153;There are cultists in secondary and primary schools in the state.

We cannot hide that. Security agencies have identified that. That is why the governor is interested in the safety and well-being of the society. That is why the governor is so angry and decided to take this step. If we allow this to continue to build up from a strong foundation in children as low as primary and secondary schools then we are mortgaging our future and will live under threat,â&#x20AC;? the commissioner stressed.

At one of his briefings and youth conference on security held in the state recently, the state Commissioner of Police, Mr. Adeyemi Ogunjemilusi, disclosed that no fewer than seven murder cases due to cultism had been recorded in the state since the beginning of the year, and 600 cultists prosecuted in 2017 with over 40 lethal weapons recovered. â&#x20AC;&#x153;The circumstances of the killings were gruesome and seems there is no end in sightâ&#x20AC;? as all the killings were by youths associated with cultism.

This cannot be allowed to continue in a civilised and progressive society like Akwa Ibom State where the government is working hard to create jobs and build wealth on tourism. A stitch in time saves nine,â&#x20AC;? he warned.

The State Police Command, the commissioner said would not fold its hands and allow these heinous crimes to continue saying security operatives intend to adopt soft and hard policing strategies in tackling crimes in the state stressing that those barbaric acts could be due to ignorance, misinformation, poor upbringing, youthful exuberance, unemployment or poverty of ideas among others stating that all machinery would be employed to mitigate the activities of cultists and bring to book all who hide under such unlawful societies to perpetrate heinous crimes against the peaceloving people of the state. â&#x20AC;&#x153;The Force will be compelled to bring the full weight of its authority on criminal elements to face the full weight of the law. That would mean that many of your dear colleagues will spend a long time, in fact, their most productive and precious years, behind the bars, in prisons.

The Command will cooperate, coordinate and collaborate with other security agencies to chase

A cross section of community leaders and stakeholders at the peace meeting held recently with Governor Udom Emmanuel over insecurity in the aďŹ&#x20AC;ected LGAs

Governor Udom Emmanuel (right) welcoming religious leaders and monarchs to the Etim Ekpo peace meeting over insecurity

them out of the state or incapacitate them to make sure they cannot be a threat to our collective peace and security anymore, there wouldnâ&#x20AC;&#x2122;t be any hiding place,â&#x20AC;? Ogunjemilusi stated.

According to him, the state is witnessing the emergence of a wide range of cult groups, very vicious and with the ability to promote and inflict harm on the local communities.

For the Police Commissioner, Oron, Uyo and Ikot Ekpene local government areas were the worst infected areas by cult activities adding that other highly infested LGAs were Abak, Itu, Obot Akara, Udung Uko, Mbo, Okobo, Ika, Etim Ekpo, Mkpat Enin, Ibesikpo, Nsit Ibom, Etinan and Ukanafun. In line with the efforts of the Police Command to rid its system of cult members, he said two police officers

The Akwa Ibom State Police Command under my leadership is resolute to dismantle cultism and contain its spread in the state. We are determined to confront violent crimes head-on, put an end to senseless killings amongst our youths and stamp out criminality in all forms

have recently been sacked and prosecuted for reportedly abetting cultism and insecurity in the state. â&#x20AC;&#x153;We have caught two police officers, we have dismissed them and we are prosecuting them.â&#x20AC;?

To support security operatives to end criminal enterprise under the guise of cultism, Ogunjemilusi called on the State House of Assembly to review the state law on cultism and imposition of stiffer penalties on perpetrators. â&#x20AC;&#x153;The Akwa Ibom State Police Command under my leadership is resolute to dismantle cultism and contain its spread in the state.

We are determined to confront violent crimes head-on, put an end to senseless killings amongst our youths and stamp out criminality in all forms,â&#x20AC;? Adding, â&#x20AC;&#x153;The Commandâ&#x20AC;&#x2122;s efforts at containing the menace of cultism and violent crimes include the establishment of Special Anti-Cultism Team, SARS and Anti-Kidnapping Unit, arrest and prosecution of over 600 cultists in 2017, recovery of over 40 lethal weapons in six months, sensitisation and awareness and effective cooperation and collaboration with other security agencies.â&#x20AC;?

He identified consequences of cultism in addition to drug abuse and increase in violent crimes in the state to include, decline in the schoolâ&#x20AC;&#x2122;s academic performance, youths involvement in violent crimes such as murder, armed robbery and rape, instruments of political violence, long jail terms, seizure and forfeiture of property, untimely death and jeopardised future of youths and the state. He stressed the need for social re-orientation, the establishment of youth

empowerment programmes by the state and local governments, parents and school authorities to collaborate in the fight against cultism and crime in educational institutions, enforcement of liquor and drug laws and tougher legislation on cultism as a solution to rising cult activities in the state.

Speaking on the cult crisis in the state and before the latest position on the cult issues in the state, by the state government, the state chapter of the All Progressives Party Congress (APC) had called on the federal government to intervene in the insecurity in the three identified LGAs in the state endemic with cult activities. The party said it was saddened and worried by the unending orgy of violence, kidnappings and killings that have continued unabated in Etim Ekpo, Ukanafun and Ika LGAs of the state in the last two years. The APC in a statement signed by its Publicity Secretary, Mr. Edet Eyo Bassey noted with concern the alleged apathy reportedly exhibited by the state government before now towards the resolution of the security challenges in the affected LGAs. According to the party â&#x20AC;&#x153;reports have it that over 100 people have been killed by rival cult groups allegedly used by the PDP in the last general elections to perpetrate electoral fraud and who now feel abandoned by the politicians.â&#x20AC;? Adding that thousands of people have been displaced as refugees and were in rehabilitation at internally displaced persons (IDPs) camp hence the federal government urgent need to wade into the security situation in the state.

T H I S D AY Ëž Ë&#x153; APRIL 9, 2018

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BUSINESS/MONEYGUIDE

Interbank Liquidity Rises on Treasury Bills Repayment Obinna Chima Liquidity in the banking system increased to N1.2 trillion as repayment for treasury bills hit the system.

Specifically, the development was attributed to the spill-over effect of Central Bank of Nigeria (CBN) repayment of about N177.3 billion for maturing open market operation (OMO) bills.

Owing to this, a report by Afrinvest Securities Limited showed that the open buy back (OBB) and overnight (OVN) rates declined week-on-week.

At the OMO auction, the CBN issued 91-day (offered: N200 billion, Sale: N63.9 billion) and 245-day (offered: N500 billion, sale: N684.8 billion) instruments at 12.5 per cent and 14.3per cent respectively.

In the treasury bills market, performance was largely bullish as average rate across tenors traded lower on three of four trading days. However, the CBN carried out a Primary Market Auction (PMA) where the 91-day (offered: N9.5 billion,subscription: N10 billion, Allotted: N9.5billion); 182-day (Offered: N47.6 billion, Subscription: N20.4 billion,

Allotted: N17.6 billion) and 364-day (Offered: N38.1 billion, Subscription: N173.9billion, Allotted: N68.1 billion) were allotted at stop rates of 11.75 per cent, 12.70 per cent and 13.04 per centrespectively. â&#x20AC;&#x153;The auction result clearly displays investorsâ&#x20AC;&#x2122; appetite for long dated treasury bills instruments as interest rate outlook continues to favour gradual moderation in the next couple of months. â&#x20AC;&#x153;Based on our short-term outlook, we expect the Treasury Bills market to remain bullish given the optimistic economic outlook and the CBNâ&#x20AC;&#x2122;s policy bias for easing,â&#x20AC;? Afrinvest stated.

Meanwhile, in the foreign exchange market, in a bid to sustain system liquidity and maintain stability across the different segments of the market, the CBN continued its weekly interventions of US$210 million via the Wholesale SMIS (Secondary Market Intervention Auction).

Consequently, rates traded flattish within tight bands during the week. The parallel market rate opened flat at N362/US$1 and remained unchanged till the end of the week.

On the other hand, in the

Investor and Exportersâ&#x20AC;&#x2122; (I&E) foreign exchange window, the Nigerian Autonomous Foreign Exchange (NAFEX) rate opened the week appreciating 17 kobo to N359.83/US$1.

However, NAFEX rate appreciated 13 kobo week-on-week to close at 360.01/US$1. The total value of open contracts of thenaira settled OTC futures in the FMDQ OTC futures market improved by US$57.2million, representing a 1.8 per cent weekon-week growth to US$3.3billion on Friday from US$3.2 billion last week close. Nonetheless, the APR-2018 instrument was the most subscribed with a total market value of US$660.5m (contract price: N360.31/ US$1.00) while the MAR-2019 was the least subscribed with a total market value of US$8.8m (contract price: N361.96/US$1.00). â&#x20AC;&#x153;Our expectations in the near term is that rates will continue to trade within tight bands as the central bank remains committed to sustaining its forexinterventions in the face of domestic macroeconomic and external sector positives, including the steady accretion to the external reserves,â&#x20AC;? the firm added.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2017

â&#x20AC;&#x2DC;50% of Banksâ&#x20AC;&#x2122; Employees are Millennialsâ&#x20AC;&#x2122; A study by the Employee MarketPlace has shown that over 50 per cent of millennials make up majority of the employees in Nigeriaâ&#x20AC;&#x2122;s banking sector.

The Convener of the Employee MarketPlace and Group Head, Brand Management and Communication, Mr.Nduneche Ezurike, who disclosed the research findings titled: â&#x20AC;&#x2DC;Voice of Millennials,â&#x20AC;&#x2122; at a forum in Lagos recently, also predicted that the millennials would constitute 72 per cent of global workforce by 2025.

The term Millennials is usually considered to apply to individuals who reached adulthood around the turn of the 21st century.

He therefore stressed the need for improved employee engagement so as to accommodate this category of workers for job satisfaction and improved customer service. â&#x20AC;&#x153;We know that employee engagement and positive business outcomes are correlated, but happiness, satisfaction or motivation logically lead to better outcome?

â&#x20AC;&#x153;The bank of the future must innovate or expire. The millennials have come to stay and organisations must endeavour to listen to them. â&#x20AC;&#x153;That is because the millennials are confident, committed and open to change,â&#x20AC;? he said.

Nduneche identified competitive salary, reward and recognition, training and manpower as motivating factors for the millennials. â&#x20AC;&#x153;Competitive salary is a distinct motivator that brings out the best performance in millennials. Also,87 per cent of stakeholders recognise employee communication as a strategic function with a designated team lead. â&#x20AC;&#x153;Also, employee engagement is the leading objective of current employee engagement strategy,â&#x20AC;? he explained.

Nduneche pointed out that employee satisfaction has basically become the â&#x20AC;&#x153;most exciting thing on earth,â&#x20AC;? just as he noted the role technology have continued to play in the workplace.

He described the Employee MarketPlace as a forum designed

to unlock the organisational benefits of innovation and business growth.

The concept, according to him, constitutes what makes up modern engagement. â&#x20AC;&#x153;People must be the key drivers of innovation. Employee buy-in executive leadership commitment is equally the biggest challenge faced in managing strategic internal communication. â&#x20AC;&#x153;Seventy three per cent of stakeholders measure employee related goals as part of product campaigns,â&#x20AC;? he said.

Nduneche identified communication, collaboration and community as factors that drive employee engagement in the era of millennials.

He harped on the need for organizations to drive communication, collaboration and community in their â&#x20AC;&#x153;Employee Marketplace driveâ&#x20AC;? to achieve efficiency.

Ezurike believed innovation and business growth should be the thrust of organisations, giving priority to people, strategy, process, technology and experience.

FCMB Partners Etihad Airways Customers of First City Monument Bank Limited (FCMB), who plan to travel abroad for personal or business purposes at very affordable fares now have an opportunity to do so. This is because, the bank and Etihad Airways have launched a partnership that offers discounted, highly affordable and convenient travel packages, including flight tickets, to existing and potential customers who fly on Etihad Airlines to any part of the world.

A statement from the bank explained that to benefit from the package, all an existing customer of FCMB needs do is to visit a dedicated website for the partnership.

The discounted fares come with various benefits in the Bankâ&#x20AC;&#x2122;s financial products and

services stable to enhance the travel experience of customers. These include Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) services, complimentary platinum cards and priority passes, complimentary lounge access at departure in Lagos, among other benefits. There is also the USA Immigrations clearance at Abu Dhabi for travelers going to the United States and a dedicated service for customers who intend to travel to the Holy land in Mecca for Hajji and Umrah.

In a welcome address, the Managing Director, First City Monument Bank (FCMB), Mr. Adam Nuru commended Etihad Airways for the quality of service it offers its customers,

noting that the brand within a few years of its establishment, has achieved a very robust international image with a high level of global acceptability within the aviation circles.

Nuru said: â&#x20AC;&#x153;I thank the representatives of Etihad Airways Group. We do not take our partnership with you for granted. We take it seriously knowing that it will surely strengthen our course and increase the range of valuable products we can offer our loyal customersâ&#x20AC;?.

In his own contribution at the launch, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said it is a value-added offering designed to deliver high quality of service and satisfaction for customers.

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&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

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

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS ATTHURSDAY APRIL 5, 2018

The price of OPEC basket of fourteen crudes stood at $65.18 a barrel on Thursday, compared with $64.48 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

39

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

MARKET NEWS

May & Baker Rebounds with N371 Million ProďŹ t After Tax Goddy Egene May & Baker Nigeria Plc recorded significant growths in sales and profitability in 2017 as the healthcare company continued to implement its medium-term strategic plan aimed at enhancing shareholdersâ&#x20AC;&#x2122; value.

Highlights of the audited results showed that turnover rose by 10.39 per cent from N8.47

billion in 2016 to N9.35 billion in 2017. Gross profit grew by 29.13 per cent to N3.28 billion in 2017 as against N2.54 billion in 2016. Operating profit jumped by 51.04 per cent from N820.87 million to cross the billion naira mark to N1.24 billion in 2017.

Profit before tax leapt by 75.07 per cent from N345.94 million in 2016 to N605.62 million in 2017, while net profit stood at N370.87 million in 2017 compared

P R I C E S MAIN BOARD

F O R DEALS

with net loss after tax of N41.09 million recorded in 2016.

The board of directors of the company has recommended distribution of N196 million as cash dividend for the 2017, representing a dividend per share of 20 kobo. This represents an increase of 233.3 per cent compared with six kobo paid the previous year.

The management of the company attributed the 2017

S E C U R I T I E S MARKET PRICE

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performance to the success of efforts to harness the potential of recent investments and reduce related costs.

According to it, despite the macroeconomic challenges, the companyâ&#x20AC;&#x2122;s sales growth has continued to improve considerably above industry average, showing continuing efforts to retain and grow market share.

Managing Director/Chief Executive Officer of May & Baker,

T R A D E D MAIN BOARD

A S

Mr. Nnamdi Okafor said the improvement in margin validated managementâ&#x20AC;&#x2122;s tight cost control measures and continuing efforts to harness synergies within the group to reduce costs and improve shareholdersâ&#x20AC;&#x2122; value. â&#x20AC;&#x153;Our results show our main focus of satisfying our customer and enhancing our shareholdersâ&#x20AC;&#x2122; value. Our steady implementation of many growth initiatives are paying off as can be seen in the

O F

latest results. We are also happy that the investing public is taking note of these improvements with the performance of our stock as one of the best-performing stocks at the market,â&#x20AC;? he said.

He noted that the recent inauguration of the board of Biovaccines Nigeria Limited has raised the prospects that the subsidiary will soon begin to impact positively on the group performance.

0 4 / 0 4 / 2 0 1 8 DEALS

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VALUE TRADED ( N)

˾ MONDAY, APRIL 9, 2018

40

Nigeria Daily Stock Market Report: 'ůŽďĂů DĂƌŬĞƚƐ ZĞǀŝĞǁ͗ DŝdžĞĚ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ DĂƌŬĞƚƐ ŽǀĞƌ ŽŶĐĞƌŶƐ ŽŶ WŽƐƐŝďůĞ dƌĂĚĞ tĂƌ

/ŶǀĞƐƚŽƌƐ͛ ĨĞĂƌƐ ǁŝƚŚ ƌĞŐĂƌĚƐ ƚŽ Ă ƉŽƚĞŶƟĂů ƚƌĂĚĞ ǁĂƌ ďĞƚǁĞĞŶ ƚŚĞ h^ ĂŶĚ ŚŝŶĂ ǁĞƌĞ ŐƌĂĚƵĂůůLJ ĞĂƐĞĚ ĨŽůůŽǁŝŶŐ ĐŽŵŵĞŶƚƐ ďLJ ^ƚĞǀĞŶ DŶƵĐŚŝŶ͕ ƚŚĞ hŶŝƚĞĚ ^ƚĂƚĞƐ͛ dƌĞĂƐƵƌLJ ^ĞĐƌĞƚĂƌLJ͕ ŽŶ ƚŚĞ ƉŽƐƐŝďŝůŝƚLJ ŽĨ ŶĞŐŽƟĂƟŽŶƐ ďĞƚǁĞĞŶ ƚŚĞ h^ ĂŶĚ ŚŝŶĂ͘ ,ŽǁĞǀĞƌ͕ ŽŶ dŚƵƌƐĚĂLJ͕ WƌĞƐŝĚĞŶƚ dƌƵŵƉ ĚŝƌĞĐƚĞĚ ŝĚĞŶƟĮĐĂƟŽŶ ŽĨ ĂŶ ĂĚĚŝƟŽŶĂů h^ΨϭϬϬ͘ϬďŶ ǁŽƌƚŚ ŽĨ ŚŝŶĞƐĞ ŝŵƉŽƌƚƐ ƚŽ ďĞ Śŝƚ ǁŝƚŚ ƚŚĞ ƚĂƌŝī ŝŵƉŽƐŝƟŽŶ͘ ^ĞŶƟŵĞŶƚ ŝŶ ƚŚĞ h^ ŵĂƌŬĞƚƐ ǁĂƐ ŵŝdžĞĚ ĂƐ ƚŚĞ ^ΘW ϱϬϬ ŐƌĞǁ Ϭ͘Ϯй ǁŚŝůĞ ƚŚĞ E ^ Y ĐůŽƐĞĚ Ϭ͘ϭй ůŽǁĞƌ tͲŽͲt ĚƵĞ ƚŽ WƌĞƐŝĚĞŶƚ dƌƵŵƉ͛Ɛ ƌĞĐĞŶƚ ĐŽŵŵĞŶƚƐ ŽŶ ŵĂnjŽŶ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ h< &d^ ůů ^ŚĂƌĞ ƚƌĞŶĚĞĚ ϭ͘ϳй ŚŝŐŚĞƌ tͲŽͲt͘

dŚĞ ƉŽƐŝƟǀĞ ƐĞŶƟŵĞŶƚ ĮůƚĞƌĞĚ ŝŶƚŽ ŵĂƌŬĞƚƐ ŝŶ ƵƌŽƉĞ ĂŶĚ ƐŝĂ ĂƐ Ăůů ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ ƐĂǀĞ ĨŽƌ ,ŽŶŐ <ŽŶŐ͛Ɛ ,ĂŶŐ ^ĞŶŐ ǁŚŝĐŚ ǁĂƐ ĚƌĂŐŐĞĚ Ϭ͘ϴй ůŽǁĞƌ ĚƵĞ ƚŽ ĂŶdžŝĞƟĞƐ ŽǀĞƌ Ă ƉŽƚĞŶƟĂů ƚƌĂĚĞ ǁĂƌ ďĞƚǁĞĞŶ ŚŝŶĂ ĂŶĚ ƚŚĞ h^͘ &ƌĂŶĐĞ͛Ɛ ϰϬ ĂƉƉƌĞĐŝĂƚĞĚ ƚŚĞ ŵŽƐƚ͕ ƵƉ ϭ͘ϵй ǁŚŝůĞ 'ĞƌŵĂŶLJ͛Ɛ y dZ y ĨŽůůŽǁĞĚ ǁŝƚŚ Ă ϭ͘Ϯй tͲŽͲt ŝŵƉƌŽǀĞŵĞŶƚ͘ ^ŝŵŝůĂƌůLJ͕ :ĂƉĂŶ͛Ɛ EŝŬŬĞŝ ϮϮϱ ĂĚǀĂŶĐĞĚ Ϭ͘ϱй tͲŽͲt͘

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƚŚĞ Z/ ^ ŵĂƌŬĞƚ ǁĂƐ ŵŝdžĞĚ ǁŝƚŚ ϯ ŝŶĚŝĐĞƐ ŐĂŝŶŝŶŐ ǁŚŝůĞ Ϯ ĚĞĐůŝŶĞĚ͘ /ŶĚŝĂ͛Ɛ ^ ^ĞŶƐ͕ ^ŽƵƚŚ ĨƌŝĐĂ͛Ɛ &d^ ůů ^ŚĂƌĞ ĂŶĚ ZƵƐƐŝĂ͛Ɛ Zd^ ǁĞƌĞ ƵƉ Ϯ͘Ϭй͕ Ϭ͘ϴй ĂŶĚ Ϭ͘ϰй tͲŽͲt ƌĞƐƉĞĐƟǀĞůLJ ĂƐ Ăƚ ƚŚĞ ƟŵĞ ŽĨ ǁƌŝƟŶŐ͘ ,ŽǁĞǀĞƌ͕ ŚŝŶĂ͛Ɛ ^ŚĂŶŐŚĂŝ ŽŵƉŽƐŝƚĞ ƐůŝĚ ϭ͘Ϯй tͲŽͲt ĂƐ ŚŝŶĂ͛Ɛ ƌĞƚĂůŝĂƚŽƌLJ ŝŵƉŽƐŝƟŽŶ ŽĨ ƚĂƌŝīƐ ŽŶ ŝŵƉŽƌƚƐ ĨƌŽŵ ƚŚĞ h^ ǁĞŝŐŚĞĚ ŽŶ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͘ >ŝŬĞǁŝƐĞ͕ ƌĂnjŝů͛Ɛ /ďŽǀĞƐƉĂ ĨƵƌƚŚĞƌ ŵŽĚĞƌĂƚĞĚ Ϭ͘ϱй tͲŽͲt͘

ĐƌŽƐƐ ĨƌŝĐĂ͕ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ĞƋƵŝƚLJ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĂƐ ůĂƌŐĞůLJ ďĞĂƌŝƐŚ ĂƐ ϯ ŽĨ ϰ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ tͲŽͲt͘ EŝŐĞƌŝĂ͛Ɛ ůů ^ŚĂƌĞ /ŶĚĞdž ůĞĚ ůĂŐŐĂƌĚƐ͕ ĚŽǁŶ ϭ͘ϲй tͲŽͲt ĚƵĞ ƚŽ ƐĞůůŽīƐ ŝŶ ďĞůůǁĞƚŚĞƌ ƐƚŽĐŬƐ͘ <ĞŶLJĂ͛Ɛ E^ ϮϬ ĂŶĚ ŐLJƉƚ͛Ɛ 'y ϯϬ ǁĞƌĞ ďŽƚŚ ĚŽǁŶ Ϭ͘ϲй ĂŶĚ Ϭ͘Ϯй tͲŽͲt ƌĞƐƉĞĐƟǀĞůLJ͘ 'ŚĂŶĂ͛Ɛ '^ ŽŵƉŽƐŝƚĞ ǁĂƐ ƚŚĞ ŽŶůLJ ŐĂŝŶĞƌ͕ ƵƉ ϭ͘ϳй tͲŽͲt͘

ŽŵĞƐƟĐ ƋƵŝƚLJ DĂƌŬĞƚ͗ ƩƌĂĐƟǀĞ ŶƚƌLJ WƌŝĐĞƐ ĂƌŝƐĞ ĨŽůůŽǁŝŶŐ ^ƵƐƚĂŝŶĞĚ ^Ğůů ŽīƐ

dŚĞ ďĞĂƌŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ǁĂƐ ƐƵƐƚĂŝŶĞĚ ƚŚŝƐ ǁĞĞŬ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ƐŚĞĚ ϭ͘ϲй ƚŽ ƐĞƩůĞ Ăƚ ϰϬ͕ϴϰϭ͘ϭϰ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ĨƵƌƚŚĞƌ ŵŽĚĞƌĂƚĞĚ ƚŽ ϲ͘ϴй͘ ŽŶƐĞƋƵĞŶƚ ŽŶ ƚŚŝƐ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ EϮϯϵ͘ϲďŶ ŝŶ ǀĂůƵĞ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĚĞĐƌĞĂƐĞĚ ƚŽ Eϭϰ͘ϴƚŶ͘ dŚĞ ĚƌĂŐ ƚŽ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ƚŚŝƐ ǁĞĞŬ ĐĂŶ ďĞ ůĂƌŐĞůLJ ĂƩƌŝďƵƚĞĚ ƚŽ ƐƵƐƚĂŝŶĞĚ ƐĞůů ŽīƐ ŝŶ ďĞůůǁĞƚŚĞƌƐ Ͳ E' D ;ͲϮ͘ϬйͿ͕ E/d, ;Ͳ ϲ͘ϴйͿ ĂŶĚ 'h Z Edz ;Ͳϭ͘ϯйͿ͘ KŶ ƚŚĞ ĐŽŶƚƌĂƌLJ͕ ŵĂƌŬĞƚ ĂĐƟǀŝƚLJ ůĞǀĞů ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭϰ͘ϲй ĂŶĚ ϱϵ͘ϲй ƚŽ ϰϰϬ͘ϵŵ ƵŶŝƚƐ ĂŶĚ Eϲ͘ϲďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ĨŽƌ ƚŚĞ ǁĞĞŬ ǁĞƌĞ E/d, ;ϭϵϳ͘ϰŵͿ͕ ^^ ;ϭϴϬ͘ϭŵͿ ĂŶĚ h ;ϭϲϲ͘ϮŵͿ ǁŚŝůĞ 'h Z Edz ;Eϱ͘ϲďŶͿ͕ E/d, ;Eϱ͘ϲďŶͿ ĂŶĚ E ^d> ;EϮ͘ϵďŶͿ ǁĞƌĞ ƚŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘

dŚĞ ŵĂƌŬĞƚ ŬŝĐŬĞĚ Žī ƚŚĞ ǁĞĞŬ ŽŶ Ă ŶĞŐĂƟǀĞ ŶŽƚĞ͕ ƉĂƌŝŶŐ ŐĂŝŶƐ ĨƌŽŵ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĂƐ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ĨĞůů ϭ͘ϲй ĂŶĚ Ϭ͘ϯй ŽŶ ƚŚĞ ĮƌƐƚ ƚǁŽ ƚƌĂĚŝŶŐ ĚĂLJƐ͘ >ŽƐƐĞƐ ŝŶ E' D͕ 'h Z Edz ĂŶĚ E/d, ǁĞƌĞ ƚŚĞ ŵĂũŽƌ ĚƌĂŐƐ ƚŽ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ͘ LJ dŚƵƌƐĚĂLJ͕ ƚŚĞ ďĞĂƌŝƐŚ ƚƌĞŶĚ ǁĂƐ ŚĂůƚĞĚ ĂŐĂŝŶƐƚ ƚŚĞ ďĂĐŬĚƌŽƉ ŽĨ ŝŶĐƌĞĂƐĞĚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ E' D͕ d/ ĂŶĚ h ǁŚŝĐŚ ůŝŌĞĚ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ďLJ Ϭ͘ϯй͘ dŽ ĐůŽƐĞ ƚŚĞ ǁĞĞŬ͕ ƚŚĞ ďĞĂƌƐ ƌĞƚƵƌŶĞĚ ƚŽ ƚŚĞ ŵĂƌŬĞƚ͕ ŽīƐĞƫŶŐ ƚŚĞ ƉƌĞǀŝŽƵƐ ĚĂLJ͛Ɛ ŐĂŝŶ͕ ƚŚƵƐ ĚƌĂŐŐŝŶŐ ƉĞƌĨŽƌŵĂŶĐĞ ĚŽǁŶ ϴďƉƐ͘

ĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ĞƋƵĂůůLJ ďĞĂƌŝƐŚ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ůĞĚ ůĂŐŐĂƌĚƐ͕ ĚŽǁŶ Ϯ͘ϴй ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ DK /> ;Ͳϴ͘ϱйͿ ĂŶĚ dKd > ;Ͳϱ͘ϬйͿ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ĨŽůůŽǁĞĚ ƐƵŝƚ͕ ĚŽǁŶ Ϯ͘ϭй ĂŶĚ ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ ĂƐ ŝŶǀĞƐƚŽƌƐ ƐŽůĚ Žī ƉŽƐŝƟŽŶƐ ŝŶ E' D ;ͲϮ͘ϬйͿ͕ t W K ;ͲϮ͘ϰйͿ͕ E/d, ;Ͳϲ͘ϴйͿ ĂŶĚ 'h Z Edz ;Ͳϭ͘ϯйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ E/' Z/ E Z t Z/ ^ ;ͲϬ͘ϴйͿ͕ /Ed Z t ;Ͳϵ͘ϳйͿ͕ t W/ ;Ͳϳ͘ϬйͿ ĂŶĚ E D ;Ͳϭ͘ϴйͿ ĚƌŽǀĞ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ĚŽǁŶ ϭ͘ϭй ĂŶĚ Ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ͘

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁĞĂŬĞŶĞĚ ŝŶ ƚŚĞ ǁĞĞŬ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĨĞůů ƚŽ Ϭ͘ϰdž ĨƌŽŵ ϭ͘Ϯdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌŝŽƌ ǁĞĞŬ ĨŽůůŽǁŝŶŐ ϭϵ ƐƚŽĐŬƐ ƚŚĂƚ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϱϬ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ > ^ K ;нϮϭ͘ϮйͿ͕ D z < Z ;нϭϰ͘ϯйͿ ĂŶĚ > thE/KE ;нϭϮ͘ϯйͿ ǁŚŝůĞ : W h> K/> ;ͲϮϯ͘ϳйͿ͕ hE/dz ;Ͳϭϳ͘ϮйͿ ĂŶĚ '> yK^D/d, ;Ͳϭϰ͘ϳйͿ ůĞĚ ƚŚĞ ůŽƐĞƌƐ ĐŚĂƌƚ͘ tĞ ďĞůŝĞǀĞ ƚŚĞ ĐƵƌƌĞŶƚ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŵĂƌŬĞƚ ŝƐ Ă ĐŽƌƌĞĐƟŽŶ ƚŽ ƚŚĞ ďƵůůŝƐŚ ƌƵŶ ǁŝƚŶĞƐƐĞĚ ŝŶ ƚŚĞ ĮƌƐƚ ƚǁŽ ŵŽŶƚŚƐ ŽĨ ƚŚĞ LJĞĂƌ͘ dŚŝƐ ŚĂƐ ĐƌĞĂƚĞĚ ĂƩƌĂĐƟǀĞ ĞŶƚƌLJ ƉƌŝĐĞƐ ŝŶ ůĂƌŐĞ ĂŶĚ ŵĞĚŝƵŵ ĐĂƉ ƐƚŽĐŬƐ ǁŝƚŚ ƐƚƌŽŶŐ ĨƵŶĚĂŵĞŶƚĂůƐ͘ tĞ ƚŚĞƌĞĨŽƌĞ ŵĂŝŶƚĂŝŶ ŽƵƌ ƉŽƐŝƟǀĞ ŽƵƚůŽŽŬ ŽŶ ƚŚĞ ŵĂƌŬĞƚ ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ ĨŽůůŽǁŝŶŐ ƚŚĞ ƌĞůĞĂƐĞ ŽĨ ƐƚƌŽŶŐ &z͗ϮϬϭϳ ĞĂƌŶŝŶŐƐ ĂŶĚ ĞdžƉĞĐƚĂƟŽŶ ŽĨ ŝŵƉƌĞƐƐŝǀĞ Yϭ͗ϮϬϭϴ ƌĞƐƵůƚƐ͘

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

Ticker

-0.12% 0.0%

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

8.1%

66.7%

25.9%

8.2%

7.7x

1.0x

54.0%

12.9%

Divinden Earnings Yield d Yield

1

Guaranty Trust Bank PLC

44.10

21.5%

8.2%

8.8%

30.6%

5.2%

7.3x

2.1x

6.1%

13.7%

2

Zenith Bank PLC

27.30

-0.7%

12.8%

6.5%

5.3%

23.3%

3.4%

4.8x

1.0x

9.9%

20.8%

3

Nigerian Brew eries PLC

129.00

0.5%

8.0%

-4.4%

-4.5%

19.2%

8.8%

31.1x

5.8x

3.2%

3.2%

4

Nestle Nigeria PLC

1,385.00

0.4%

6.6%

-11.0%

-11.0%

89.0%

21.3%

32.6x

24.5x

3.1%

3.1%

5

Dangote Cement PLC

254.90

0.0%

6.4%

10.8%

10.8%

26.3%

12.4%

21.9x

5.7x

4.1%

4.6%

6

FBN Holdings Plc

12.15

-0.4%

7.1%

38.1%

38.2%

2.6%

0.3%

19.8x

0.7x

1.6%

5.1%

7

Access Bank PLC

12.00

0.8%

4.8%

14.8%

13.2%

13.0%

1.6%

5.5x

0.7x

5.4%

18.1%

8

United Bank for Africa PLC

11.90

0.0%

4.7%

15.5%

14.3%

16.1%

2.0%

5.4x

0.8x

7.1%

18.7%

9

Ecobank Transnational Inc

17.00

0.0%

3.0%

0.0%

4.5%

10.3%

0.8%

6.4x

0.6x

3.6%

10

SEPLAT Petroleum Development C

665.10

0.0%

3.0%

6.2%

6.2%

19.4%

11.1%

3.8x

0.7x

15.6% 26.0%

48.00

-2.0%

3.1%

15.7%

17.4%

28.7%

3.4%

11.1x

2.9x

1.0%

104.00

0.0%

2.4%

10.6%

10.6%

14.6%

5.6%

19.5x

2.7x

0.6%

5.1%

44.20

0.5%

1.5%

-1.5%

-1.5%

47.1%

9.8%

4.0x

6.7x

2.2%

25.3%

Fidelity Bank PLC

2.60

-3.0%

1.2%

5.7%

0.8%

8.0%

1.1%

2.3x

0.4x

5.4%

44.1%

15

Oando PLC

5.99

0.0%

1.2%

0.0%

0.0%

40.7%

4.2%

2.7x

0.6x

16

Dangote Sugar Refinery PLC

21.45

3.4%

1.1%

7.3%

5.4%

43.2%

19.8%

8.4x

3.2x

2.3%

12.0%

11

Stanbic IBTC Holdings PLC

12

Guinness Nigeria PLC

13

Lafarge Africa PLC

14

9.0%

37.0%

17

Okomu Oil Palm PLC

72.70

0.0%

1.1%

7.4%

7.4%

37.4%

25.9%

7.6x

3.2x

4.1%

13.2%

18

Unilever Nigeria PLC

59.80

8.7%

1.5%

45.9%

48.7%

50.3%

8.4%

36.8x

14.0x

0.2%

2.7%

19

International Brew eries PLC

49.15

-4.9%

0.7%

-9.8%

-10.6%

24.6%

7.4%

51.5x

11.7x

36.50

-0.8%

0.8%

25.9%

25.9%

13.1%

3.0%

7.6x

0.9x

2.5%

13.1%

1.78

2.9%

0.7%

21.9%

20.3%

8.3%

1.8%

15.2x

1.2x

112.4%

6.6%

3.8%

20

Flour Mills of Nigeria PLC

21

Transnational Corp of Nigeria

22

UAC of Nigeria PLC

17.30

0.0%

0.5%

2.4%

2.4%

2.2%

0.8%

23.4x

0.6x

23

Diamond Bank PLC

1.92

-0.5%

0.6%

28.0%

22.3%

2.5%

0.3%

7.7x

0.2x

24

Total Nigeria PLC

236.60

-5.0%

0.5%

2.9%

25

FCMB Group Plc

2.35

-2.1%

0.7%

26

11 PLC

170.00

-7.1%

0.4%

-4.5%

0.4%

1.9%

4.3% 12.9%

2.9%

31.0%

6.5%

10.0x

2.8x

7.2%

10.0%

48.7%

5.1%

0.8%

4.9x

0.2x

1531.9%

20.6%

-12.6%

-12.6%

30.8%

11.0%

8.4x

2.2x

4.7%

11.9%

-8.0%

-4.8%

19.6%

1.8%

20.2x

3.5x

27

Forte Oil PLC

40.00

28

PZ Cussons Nigeria PLC

23.45

0.0%

0.4%

13.8%

10.9%

10.7%

5.0%

22.2x

2.3x

2.2%

29

Cadbury Nigeria PLC

14.50

0.0%

0.3%

-7.5%

-7.1%

2.6%

1.1%

57.1x

2.3x

1.1%

1.8%

30

Presco PLC

72.00

0.0%

0.4%

5.1%

5.1%

42.9%

25.9%

3.5x

1.3x

2.1%

28.2%

31

NASCON Allied Industries PLC

21.20

0.0%

0.3%

14.6%

10.3%

54.6%

19.5%

10.5x

4.9x

7.1%

9.5%

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

6.65

0.0%

0.3%

-14.7%

-11.5%

5.6%

1.2%

8.5x

0.4x

34

Julius Berger Nigeria PLC

24.70

0.0%

0.3%

-11.8%

-11.8%

17.3%

1.8%

6.8x

1.1x

35

Sterling Bank PLC

1.58

-4.8%

0.3%

46.3%

39.8%

6.1%

0.6%

8.3x

0.5x

36

Dangote Flour Mills Plc

13.80

0.4%

0.3%

13.6%

13.6%

61.6%

15.8%

4.5x

37

GlaxoSmithKline Consumer Niger

29.00

-7.9%

0.3%

34.2%

34.2%

61.2%

23.6%

0.0%

5.0% 4.5%

11.8% 4.0%

14.6%

1.9x

1.5%

22.4%

6.0x

2.2x

25.9%

16.6%

12.0%

38

Chemical and Allied Products P

38.75

0.2%

14.0%

8.5%

66.2%

30.2%

18.1x

12.1x

5.3%

5.5%

39

Beta Glass PLC

75.70

0.0%

0.2%

47.5%

47.5%

18.4%

11.9%

10.7x

1.8x

1.4%

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 in e r s T ic k er

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

P ric e

P ric e C hg %

3.20

9.6%

UB A

103.5

1.3%

59.80

8.7%

F ID ELIT YB K

90.2

4.3%

H M A R KIN S

0.34

6.3%

GUA R A N T Y

63.0

-0.5%

LA SA C O

0.40

5.3%

A C C ESS

40.3

0.8%

H ON YF LOUR

2.41

4.8%

FB NH

31.4

0.4%

A IIC O

0.68

4.6%

ST ER LN B A N K

22.0

-4.6%

A F R IN SUR E

0.24

4.3%

Z EN IT H B A N K

16.5

0.5%

LIVEST OC K

0.89

3.5%

FCM B

14.5

0.8%

D A N GSUGA R

21.45

3.4%

SKYEB A N K

14.4

0.0%

T R A N SC OR P

1.78

2.9%

D A N GF LOUR

11.5

0.0%

M A YB A KER UN ILEVER

T ic k er J A P A ULOIL GLA XOSM IT H M OB IL C H A M P ION T OT A L IN T B R EW ST ER LN B A N K CCNN

T ic k er

Vo lum e

P ric e C hg %

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

FO

ʹ ^s ĶÞض ōsŎEsNj Ÿ¯ ǼÌs ŗÞ¶sNjÞ Ř ǢǼŸOĨ rɮOÌ Ř¶sʺ

Previous Current Current Price Price Weighting Change

THISDAY AFRINVEST 40 1,666.97

UN IT YB N K

¯NjÞŘɚsǣǼ ǢsOȖNjÞǼÞsǣ ĵÞŎÞǼs_ ʹNJN ˥˟ˢ ˢˠˤʺ

Monday, April 9, 2018

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

0.45

-8.2%

GUA R A N T Y

1569.6

0.0%

29.00

-7.9%

A C C ESS

1257.8

0.8%

170.00

-7.1%

Z EN IT H B A N K

855.2

-0.7%

2.28

-5.0%

UB A

587.0

0.0%

236.60

-5.0%

N EST LE

291.4

0.4%

49.15

-4.9%

NB

277.0

0.5% -0.4%

1.58

-4.8%

FB NH

180.5

17.80

-4.8%

D A N GSUGA R

105.3

3.4%

1.01

-4.7%

ST A N B IC

95.2

-2.0%

40.00

-4.5%

D A N GC EM

76.9

0.0%

ÝŘɚsǣǼŎsŘǼ NJsǣs NjOÌ

DNjŸĨsNj ¶s ɴŸ_sĠÞ rEŸ ʿ sEŸ˔ ¯NjÞŘɚsǣǼʳOŸŎ

NJŸEsNjǼ ŷŎŸǼȖŘ_s ʿ NjŸŎŸǼȖŘ_s˔ ¯NjÞŘɚsǣǼʳOŸŎ

DŸĶ ĠÞ ® ĠsŘɴŸ ʿ E¯ ĠsŘɴŸ˔ ¯NjÞŘɚsǣǼʳOŸŎ

ŷŎŸǼŸĶ EÞŎEŸĶ ʿ Ÿ EÞŎEŸĶ ˔ ¯NjÞŘɚsǣǼʳOŸŎ

41

˾ MONDAY, APRIL 9, 2018

MARKET NEWS

‘Courier, Logistics Business Crucial to Economic Recovery, Growth’ Emma Okonji The Courier and Logistics Management Institute (CLMI) has said that Nigeria’s untapped billion naira courier and logistics sector was capable of driving Nigeria’s economic recovery plan and growth, if properly harnessed.

The Chairman of CLMI, Dr. Simon Emeje, who made the disclosure in Lagos during a recent press briefing on the forthcoming investiture, awards and book presentation of the Institute, scheduled for Thursday this week at Sheraton Hotel, Ikeja,

said efforts towards diversifying Nigeria’s economy cannot be complete without rejuvenating the billion naira Courier, Logistics and Transport industry through pragmatic policies and adequate managerial core competences.

This, he said, was one of the primary reasons why CLMI was partnering tertiary institutions in Nigeria and overseas to develop human talents to lead the sector, especially with the uptake of e-commerce.

Emeje said that the Institute has plans to commence the award of Degrees in B. Sc and M. Sc

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

as well as Peofessional Diploma by partner-universities and Polytechnic within and outside Nigeria in Courier and Logistics Management, and Courier and Transport Management.

“The Institute is the first of its kind in the whole world, having focus on courier, logistics, transport and management. There is no Institute of the magnitude across the globe that combines the four key areas. The closest is on logistics and transport. We are here to fill that gap.

“So far, there is no Degree or HND awarding Institute with

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 05Apr-2018, unless otherwise stated.

this combination. We are here as pioneers in collaboration with Universities, both within and outside Nigeria. The Degrees/ HND will be awarded in Courier and Logistics Management; Courier and Transport Management. We are collaborating with Universities because our license does not permit us to award Degree/HND certificates.

However, we can run professional programmes,” Emeje said.

He added that in liaising with the universities, CLMI has developed a curriculum from first year to the fifth year for the

undergraduate and postgraduate studies in the field, adding that economic prospects in the industry are many.

“World over, every human being is covered by these four areas- Courier, Logistics, Management and Transport (CLMI). Most times, people are not conscious of the operations in these areas. We are trying to ignite that in Nigerians. So, we want people to know these are areas you can professionalise; that is, you are made to do things better.”

“Courier is time sensitive which

is applicable in every aspect of our endeavours either virtual or physical. Logistics will tell you how to process goods, store and distribute them to the last-mile,” Emeje said.

According to him, “Management entails control, directing and making adequate decisions that will harness resources for favourable results. In Transport, after you have put all these together, you need to move them- the network of distribution of the product from one place to another. These are strategic areas of every humanlife.”

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 187.22 188.07 5.37% Nigeria International Debt Fund 243.93 244.81 5.44% 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 0.88 5.16% ACAP Income Funds 0.65 0.65 8.06% 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 14.75% 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 159.00 160.11 4.82% AXA Mansard Money Market Fund 1.00 1.00 14.71% 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 12.44 12.76 12.20% Women's Investment Fund 103.56 106.21 2.91% 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 100.00 100.00 14.79% 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 15.12% Coronation Balanced Fund 1.08 1.10 2.72% Coronation Fixed Income Fund 1.10 1.13 6.37% 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 1,200.05 1,201.25 4.55% FBN Heritage Fund 147.62 148.96 5.91% FBN Money Market Fund 100.00 100.00 14.30% FBN Nigeria Eurobond (USD) Fund - Institutional 114.75 115.21 1.59% FBN Nigeria Eurobond (USD) Fund - Retail 114.76 115.21 1.69% FBN Nigeria Smart Beta Equity Fund 181.51 184.32 12.71% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.42 1.40 6.99% Legacy Debt Fund 2.99 2.99 3.58% 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 3,147.10 3,179.55 5.41% Coral Income Fund 2,564.60 2,564.60 4.82% 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 13.98% 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 14.83% Vantage Balanced Fund 2.17 2.19 2.87% Vantage Guaranteed Income Fund 1.00 1.00 16.38% Kedari Investment Fund (KIF) 118.33 118.73 2.90%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.17 1.19 2.15% Lotus Halal Fixed Income Fund 1,069.19 1,069.19 3.41% 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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 1.31 1.33 10.20% PACAM Fixed Income Fund 11.52 11.57 4.33% PACAM Money Market Fund 10.00 10.00 14.15% 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 143.23 145.85 11.25% 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 1.54 1.54 3.95% 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 2,344.25 2,364.80 4.54% Stanbic IBTC Bond Fund 181.07 181.07 2.62% Stanbic IBTC Ethical Fund 1.06 1.07 5.45% Stanbic IBTC Guaranteed Investment Fund 230.68 230.77 4.76% Stanbic IBTC Iman Fund 190.71 192.86 6.49% Stanbic IBTC Money Market Fund 100.00 100.00 14.28% Stanbic IBTC Nigerian Equity Fund 10,104.43 10,242.38 4.50% Stanbic IBTC Dollar Fund (USD) 1.08 1.08 2.08% 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 1.39 1.40 4.08% United Capital Bond Fund 1.61 1.61 3.05% United Capital Equity Fund 1.01 1.03 10.35% United Capital Money Market Fund 1.00 1.00 13.41% United Capital Eurobond Fund 105.05 105.05 2.09% United Capital Wealth for Women Fund 1.13 1.13 3.75% 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 13.37 13.57 6.63% Zenith Ethical Fund 14.13 14.30 7.16% Zenith Income Fund 19.80 19.80 4.68% Zenith Money Market Fund 1.00 1.00 13.50%

REITS NAV Per Share

Yield / T-Rtn

10.00 134.23

-11.35% 1.34%

Bid Price

Offer Price

Yield / T-Rtn

12.41 158.49 116.61

12.51 161.90 118.80

2.37% 10.98% 6.74%

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

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

5.13 9.58 18.86 21.35 155.15

5.17 9.66 18.96 21.55 157.15

8.19% 0.07% 6.18% 8.49% 4.40%

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

T H I S D AY ˾ Í·Ë&#x153; ͰͮͯͶ

42

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 6th-APRIL 2018 This publication: Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

ITEM OF IMPORT

DATE OF EXCHANGE FUND RATE PURCHASE

AMOUNT

SN

CUSTOMER

ITEM OF IMPORT

1

AMBAH OFFONG

BTA PTA

3-Apr-18

360.00

1,986.83

60

EDUCATION

3-Apr-18

360.00

2,000.00

MR AND MRS FREEMAN AND COMFORT IKPEN

2

AMBAH OFFONG

BTA PTA

3

DAVIES ADEKEMI O

BTA PTA

3-Apr-18

360.00

1,050.00

4

OMOTOSHO FUNMILAYO OLUWAKEMI

BTA PTA

3-Apr-18

360.00

4,000.00

5

BEN-KOKO EGAN ADAT

BTA PTA

3-Apr-18

360.00

3,100.00

6

BONASON INDUSTRIES LIMITED

DISCHARGE LAMPS(80W, SWIK/B22, E27)

3-Apr-18

360.00

8,000.00

7

CHIJIOKE METAL STEEL NIGERIA LTD

SEWING MACHINE NEEDLE

3-Apr-18

360.00

20,000.00

8

CHYBYKE MUSIC EQUIPMENT NIG LTD

UMBRELLA

3-Apr-18

360.00

20,000.00

9

FIDCARO VENTURES

BULK HEAD LAMP(HW4004A 60W, AND HW4006A 60W)

3-Apr-18

360.00

20,000.00

10

GLOBAL IMPACT MARBLE AND GRANITE LT POLISHED GRANITE

3-Apr-18

360.00

10,000.00

11

MUNTARI JIBRIN GENERAL ENTERPRISES

HAND HELD JUICE EXTRACTOR

3-Apr-18

360.00

20,000.00

12

NASSCON INTERGRATED RESOURCES LIMITED

UNCOATED KRAFT PAPER AND BOARD

3-Apr-18

360.00

20,000.00

DATE OF EXCHANGE FUND RATE PURCHASE

5-Apr-18

360.00

AMOUNT

12,000.00

61

EDEDEY LYDIA AJENE

EDUCATION

5-Apr-18

360.00

6,000.00

62

ECOBANK NIGERIA LIMITED

DIRECTOR'S FEE

5-Apr-18

360.00

6,250.00

63

FIANU CURTIS KWAKU

EDUCATION

5-Apr-18

360.00

3,276.30

64

IBIKUNLE OLUWAKOREDE PHILIPS

EDUCATION

5-Apr-18

360.00

4,000.00

65

ECOBANK ZAMBIA

DIVIDEND AND CAPITAL REPATRIATION

5-Apr-18

337.80 1,892,076.87

66

AWARD GLOBAL COY. LTD

IMPORTATION OF PHARMACEUTICAL PRODUCTS

5-Apr-18

337.80

67

WHITFIELD VENTURES LTD

PROCUREMENT OF SUPERPHOSPHATES

5-Apr-18

337.80

81,370.00

68

KHS MACHINES NIGERIA LIMITED

SPARE PARTS FOR BOTTLING AND FILLING MACHINES

5-Apr-18

337.80

44,857.90

69

CROWNSTAR COMMERCIAL INVEST NIG LTD

PLAIN PAPER IN SHEETS

5-Apr-18

337.80

22,000.00

70

PRUDENT ENERGY AND SERVICES LTD

IMPORTATION OF PETROLEUM PRODUCTS

5-Apr-18

337.80

137,772.52

71

MANTRAC NIGERIA LIMITED

OLYMPIAN GEP-22 CKD DIESEL GENERATOR SET PRIME RATED @ 20KVA,16EKW,380/415VOLT,50HZ,1500RPM

5-Apr-18

337.80

478,979.38

72

FESTO AUTOMATION LIMITED

IMPORTATION OF PNEUMATIC MACHINE PARTS FOR PRODUCTION LINES IN MANUFACTURING COMPANIES

5-Apr-18

337.80

13,787.75

73

KHS MACHINES NIGERIA LIMITED

SPARE PARTS FOR FILLING AND BOTTLING MACHINES

5-Apr-18

337.80

13,376.56

74

VISTA INTERNATIONAL LIMITED

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

5-Apr-18

315.00

80,386.00

75

KEDILASO INTERNATIONAL LIMITED

BLENDER,ELECTRIC/GAS COOKER,LIQUID-GAS COOKER, AUTOMATIC VOLTAGE REGULATOR, STEP DOWN TRANSFORMER,AC MOTOR, LED TV, YAM COOKER, MICROWAVE OVEN

5-Apr-18

337.80

8,027.60

76

VISTA INTERNATIONAL LIMITED

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

5-Apr-18

315.00

80,526.08

77

VISTA INTERNATIONAL LIMITED

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

5-Apr-18

315.00

172,890.00

78

VISTA INTERNATIONAL LIMITED

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS:

5-Apr-18

315.00

59,514.69

28,533.93

13

S. I. AGAZIE ELECTRICAL STORES

250WATTS STREET LIGHT FIXTURE, 250WATTS MERCURY BULB, AND 400WATTS OLYMPIA FITTING

3-Apr-18

360.00

10,000.00

14

SUNNY IMPEX INDUSTRIAL NIG LTD

SPORTS EQUIPMENT

3-Apr-18

360.00

10,000.00

15

SUPER MACOLIGHT LTD

BULBS( PILA BRAND)

3-Apr-18

360.00

10,000.00

16

SYLVE OSAS TECH

HAND HELD JUICE EXTRACTOR

3-Apr-18

360.00

5,417.00

17

UDEH TRANSMERCHANDISE LTD

FULLY BUILT TRACTOR

3-Apr-18

360.00

20,000.00

18

VINSTEN AGRO SERVICES NIG LTD

HAND HELD JUICE EXTRACTOR

3-Apr-18

360.00

20,000.00

19

UDODI CHIMEZIE .O

BTA PTA

4-Apr-18

360.00

4,000.00

20

ARIAWHORAI OGHALE IRENE

BTA PTA

4-Apr-18

360.00

4,000.00

21

UKPE MANDELA CHUKWUWEIKE

EDUCATION

4-Apr-18

360.00

14,485.61

22

EDOH PETER (MR AND MRS)

EDUCATION

4-Apr-18

360.00

7,000.00

23

ECOBANK NIGERIA LTD

DIRECTOR FEE

4-Apr-18

360.00

6,250.00

24

ODUWOLE OLUFEMI AYOOLA

EDUCATION

4-Apr-18

360.00

5,480.16

25

SCC NIGERIA LIMITED (2)

MEDICAL

4-Apr-18

360.00

35,099.81

79

HANA PACKAGING LIMITED

MACHINE

5-Apr-18

337.80

40,000.00

26

SCC NIGERIA LIMITED (2)

OTHERS

4-Apr-18

360.00

4,510.00

80

VISTA INTERNATIONAL LIMITED

315.00

148,870.70

NWOKIKE NNAMDI OLIVER

BTA PTA

4-Apr-18

360.00

4,000.00

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

5-Apr-18

27 28

RNDC ALLIANCE WEST AFRICA LIMITED

PAYMENT FOR FINISHED GOODS - MOBILE PHONE

4-Apr-18

359.50

90,000.00

81

VISTA INTERNATIONAL LIMITED

5-Apr-18

315.00

152,351.97

29

RNDC ALLIANCE WEST AFRICA LIMITED

PAYMENT FOR FINISHED GOODS - MOBILE PHONE

4-Apr-18

359.00

50,000.00

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

30

DASUKI ZAINAB IBRAHIM

BTA PTA

5-Apr-18

360.00

3,000.00

82

KRISHAT PHARMA INDUSTRIES LIMITED

PHARMACEUTICAL FORMULATIONS

5-Apr-18

337.80

60,672.00

31

OKIGBO-SOKEI NADINE IFEYINWA NKEMJIKA

BTA PTA

5-Apr-18

360.00

4,000.00

83

VISTA INTERNATIONAL LIMITED

RAW MATERIAL FOR PAPER INDUSTRY:

5-Apr-18

315.00

45,904.32

84

REGATTA INDUSTRIES LIMITED

IMPORT OF INDUSTRIAL RAW MATERIAL - POLYOL

5-Apr-18

337.80

89,460.00

32

IROAGBA AMANAMBU

BTA PTA

5-Apr-18

360.00

4,000.00

85

REGATTA INDUSTRIES LIMITED

IMPORT OF INDUSTRIAL RAW MATERIAL - POLYOL

5-Apr-18

337.80

185,000.00

33

GUMI HADIZA ABBAS

BTA PTA

5-Apr-18

360.00

3,000.00

86

FRANKENSTEIN INNOVATORS LIMITED

ELECTRICAL AND ELECTRONIC EQUIPMENT

5-Apr-18

337.80

49,865.82

34

AGUNBIADE ADEBOLA MARIAM

BTA PTA

5-Apr-18

360.00

4,000.00

87

A A RANO NIGERIA LTD

IMPORTATION OF PETROLEUM PRODUCT (AGO)

5-Apr-18

337.80

300,000.00

REGATTA INDUSTRIES LIMITED

FOR THE IMPORTAION OF INDUSTRIAL RAW MATERIAL

5-Apr-18

337.80

65,408.00

35

ADEMOLA OSARUGUE NOSAKHARE

BTA PTA

5-Apr-18

360.00

3,500.00

88

36

AZUBUIKE ANITA ADAOMA

BTA PTA

5-Apr-18

360.00

4,000.00

89

REGATTA INDUSTRIES LIMITED

IMPORT OF INDUSTRIAL RAW MATERIAL - PROPYLENE GLYCOL

5-Apr-18

337.80

45,600.00

37

ADESEGUN ADERONKE OMOTOLA

BTA PTA

5-Apr-18

360.00

2,000.00

90

FRANKENSTEIN INNOVATORS LIMITED

IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT

5-Apr-18

337.80

52,220.95

38

PAM THEODORA KUMBO

BTA PTA

5-Apr-18

360.00

4,000.00

91

CKS INTERNATIONAL LIMITED

ESSENTIAL RAW MATERIALS (MSG) FOR SEASONING

5-Apr-18

337.80

36,708.11

39

ATTA ALIYU IBRAHIM

BTA PTA

5-Apr-18

360.00

4,000.00

92

SABASTEEL INDUSTRIAL NIG LTD

HOT ROLLED STEEL

5-Apr-18

337.80

447,935.48

40

OYERINDE KAFAYAT AJIBOLA

BTA PTA

5-Apr-18

360.00

4,000.00

93

IRON PRODUCTS INDUSTRIES LIMITED

5-Apr-18

316.00

113,500.00

41

OBAZEE ALBERTA EFOSA

BTA PTA

5-Apr-18

360.00

4,000.00

RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL:BEAMS

42

OTARAKU IPEGHAN JONATHAN

BTA PTA

5-Apr-18

360.00

3,500.00

94

JUBAILI AGROTEC LIMITED

ALBENOR

5-Apr-18

338.75

72,000.00

43

EZEIFEOMA UCHE NDUBUEZE

BTA PTA

5-Apr-18

360.00

4,000.00

95

VISTA INTERNATIONAL LIMITED

RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

5-Apr-18

315.00

119,493.91

44

ODUNSI OLATOYE AKINTAYO

BTA PTA

5-Apr-18

360.00

4,000.00

96

GLOBAL MANUFACTURING ALLIANCE AND TITANIUM DIOXIDE

5-Apr-18

337.80

70,000.00

45

EREBOR STELLA CHUBIYO

BTA PTA

5-Apr-18

360.00

4,000.00

97

VISTA INTERNATIONAL LIMITED

INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: PLAIN PAPER.

5-Apr-18

315.00

90,062.33

46

AJANAKU ADEKUNLE OLUSEUN

BTA PTA

5-Apr-18

360.00

4,000.00

98

KRISHAT PHARMA INDUSTRIES LIMITED

PHARMACEUTICAL FORMULATIONS

5-Apr-18

337.80

17,157.58

47

WECHIE GODFREY NHAKONYE

BTA PTA

5-Apr-18

360.00

1,000.00

99

KRISHAT PHARMA INDUSTRIES LIMITED

PHARMACEUTICAL FORMULATIONS

5-Apr-18

337.80

96,974.42

48

FAGORALA MARY

BTA PTA

5-Apr-18

360.00

2,000.00

100

ELIZADE AUTOLAND

JAC LHD DOUBLE CABIN PICK UP (SKD) MODEL

5-Apr-18

337.80

224,400.00

49

AGBO ANDREW BEN

EDUCATION

5-Apr-18

360.00

1,408.50

101

BASE FLUID EXCHANGES LTD

BASE OIL

5-Apr-18

337.80

200,000.00

50

ZEDOMI ENAHORO

EDUCATION

5-Apr-18

360.00

6,974.48

102

PRUDENT ENERGY AND SERVICES LTD

IMPORTATION OF PETROLEUM PRODUCTS

5-Apr-18

337.80

573,085.14

51

OKIGBO LINDA NWANDO

EDUCATION

5-Apr-18

360.00

5,634.00

103

PRUDENT ENERGY AND SERVICES LTD

IMPORTATION OF PETROLEUM PRODUCTS

5-Apr-18

337.80 2,275,387.90

52

KALU IKECHUKWU INNOCENT

EDUCATION

5-Apr-18

360.00

420.00

104

NATIONAL TRUCKS MANUFACTURES LTD

LETTER OF CREDIT PAYMENT

5-Apr-18

337.80

139,400.00

53

KALU IKECHUKWU INNOCENT

EDUCATION

5-Apr-18

360.00

1,607.60

105

SUMAL FOOD LIMITED

GUM BASE MAX (SHEET FORMAT)

5-Apr-18

337.80

50,000.00

54

FALADE FUNSO ALPHONSUS

EDUCATION

5-Apr-18

360.00

12,350.00

106

CROWN FLOUR MILLS LIMITED

WHEAT RUSSIA MILLING WHEAT - PROTEIN 12.5%

5-Apr-18

337.80 1,000,000.00

55

ECOBANK NIGERIA LIMITED

SUBSCRIPTION FOR BANKERS ALMANAC - 2018

5-Apr-18

360.00

20,085.21

107

CROWN FLOUR MILLS LIMITED

WHEAT RUSSIA MILLING WHEAT - PROTEIN 12.5%

5-Apr-18

316.00

689,060.00

56

STRONG TECHNOLOGIES LIMITED

TRANSPONDER SERVICE

5-Apr-18

337.80

95,000.00

108

JUBAILI BROS NIGERIA LIMITED

PERKINS ENGINE FOR GENERATOR ASSEMBLY

5-Apr-18

337.80

62,558.96

57

ZOMAY MARINE AND LOGISTICS LIMITED

LOAN REPAYMENT

5-Apr-18

337.80

12,923.13

109

REGATTA INDUSTRIES LIMITED

ECOBANK NIG. LTD.

5-Apr-18

337.80

89,460.00

58

OGUNBONA SUNDAY IDOWU

EDUCATION

5-Apr-18

360.00

1,000.00

110

A.O. MBAH GLOBAL LINKS LIMITED

AIRCONDITON BRACKET

5-Apr-18

360.00

20,000.00

59

OLALI EMMANUELLA ABIODUN

EDUCATION

5-Apr-18

360.00

5,893.02

111

ALFANUMERIK SERVICES

SEWING MACHINE NEEDLE

5-Apr-18

360.00

20,000.00

T H I S D AY ˾ MONDAY APRIL 9, 2018

43

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 6th-APRIL 2018 This publication: Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

ITEM OF IMPORT

DATE OF EXCHANGE FUND RATE PURCHASE

AMOUNT

112

AMALINK TRAFO

500KVA 33/0.415KV STEP-DOWN TRANSFORMER.(BRAND: MEKSAN)

5-Apr-18

360.00

20,000.00

SN

SOURCE

DATE OF FUND PURCHASE

113

B3X ELECTRICAL ENTERPRISES

INVERTERS

5-Apr-18

360.00

20,000.00

114

BALLAK INDUSTRIES LIMITED

BULBS(BRAND: PILLA)

5-Apr-18

360.00

20,000.00

115

BLESSED CHIDOZIE C C ENTERPRISES

UMBRELLA

5-Apr-18

360.00

20,000.00

116

CELMATHINS DISTILLERS NIG LTD

FULLY BUILT TRACTOR

5-Apr-18

360.00

20,000.00

117

CEPAUL NIGERIA LTD

SPEAKER

5-Apr-18

360.00

20,000.00

118

CHIDOKINGS CONCEPT LIMITED

INVERTERS

5-Apr-18

360.00

20,000.00

119

D.E.STAN INTERNATIONAL CO

GENERATORS

5-Apr-18

360.00

20,000.00

120

EMMAVAL ELECTRONIC NIG LTD.

BULBS (PILLA BRAND)

5-Apr-18

360.00

20,000.00

121

ENYINADON AUTO LINK LIMITED

AIRCONDITION BRACKET

5-Apr-18

360.00

20,000.00

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

INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS CENTRAL BANK OF NIGERIA OTHERS CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA 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 OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK

3-Apr-18 3-Apr-18 3-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 4-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 5-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18 6-Apr-18

122

EXCELSIOR GLOBAL RESOURCES LIMITED

INDUSTRIAL WORKSTATION

5-Apr-18

360.00

3,612.50

123

G I U VEN AND INV LTD

UMBRELLA

5-Apr-18

360.00

20,000.00

124

GREPOWER GLOBAL INDUSTRY LIMITED

MOTORCYCLE BATTERIES

5-Apr-18

360.00

13,750.00

125

JEKOM TRADING COMPANY LTD

USED VOLKSWAGEN CAR ENGINES AND SUSPENSION

5-Apr-18

360.00

20,000.00

126

KAMSIYOBROS LIMITED

FULLY BUILT TRACTOR PLOUGH

5-Apr-18

360.00

20,000.00

127

NAD GODIKE INVESTMENT LIMITED

BICYCLE SPARE PART

5-Apr-18

360.00

20,000.00

128

NATURE PROJECT INVEST CO. NIG. LTD.

TIGER HEAD BRAND PAPER JACKET DRY BATTERY ART NO.304 R65 UM-AA SIZE

5-Apr-18

360.00

20,000.00

129

NIJON AUTO COMPANY NIGERIA LIMITED

AUTO INJECTOR

5-Apr-18

360.00

10,000.00

130

NIJON AUTO COMPANY NIGERIA LIMITED

AUTO INJECTOR

5-Apr-18

360.00

10,000.00

131

OKWY PADDYNO IMPEX NIGERIA LIMITED UMBRELLA

5-Apr-18

360.00

20,000.00

132

S.P OKABZ INVESTMENT LTD

FULLY BUILT TRACTOR

5-Apr-18

360.00

20,000.00

133

SONICO IMPEX INTEGRATED LTD

BICYCLE SPARE PART

5-Apr-18

360.00

7,000.00

134

THAIBA GENERAL ENTERPRISES LTD

SEWING MACHINE NEEDES

5-Apr-18

360.00

20,000.00

135

ADEOYE TAIWO OLUYOBI

BTA PTA

6-Apr-18

360.00

4,000.00

136

ORHIERHOR FLORENCE

BTA PTA

6-Apr-18

360.00

1,350.00

137

OSIFALUJO ADEBOLA OLUFUNKE

BTA PTA

6-Apr-18

360.00

4,000.00

138

OTUNBA ADENIKE HANNAH

BTA PTA

6-Apr-18

360.00

4,000.00

139

ADELEKE ADETUNJI

BTA PTA

6-Apr-18

360.00

4,000.00

140

FALANA OLUSOLA ALABA

BTA PTA

6-Apr-18

360.00

4,000.00

141

AGBOGHOROMA CHRIS OVOROYEGUONO BTA PTA

6-Apr-18

360.00

2,000.00

142

OBAKADIRI FATIMO IYABO

6-Apr-18

360.00

2,200.00

143

UTO-PETERS OGHOGHO

BTA PTA

6-Apr-18

360.00

600.00

144

OKE OYEYEMI .A.

BTA PTA

6-Apr-18

360.00

2,000.00

145

OSUMAH EMMANUEL ERAKPEMI

BTA PTA

6-Apr-18

360.00

4,000.00

146

EZE PRINCESS GREATNESS

BTA PTA

6-Apr-18

360.00

4,000.00

147

OYETUNJI AWAWU FUNMILAYO

BTA PTA

6-Apr-18

360.00

4,000.00

148

KEKEOCHA BENSON OBIOMA

BTA PTA

6-Apr-18

360.00

4,000.00

149

EGBAJIE OSHIE SAMUEL

BTA PTA

6-Apr-18

360.00

4,000.00

150

DOUGLAS, TAYO AND YETUNDE (MR MRS) EDUCATION

6-Apr-18

360.00

4,208.70

151

OKORONKWO PRISCA ONYENYE

EDUCATION

6-Apr-18

360.00

11,910.83

152

IJU KELLY

EDUCATION

6-Apr-18

360.00

7,215.98

153

JOSEPHINE A. PETER NWOKOLO (MRS)

EDUCATION

6-Apr-18

360.00

1,200.00

BTA PTA

154

ECOBANK NIGERIA LTD

TRAINING

6-Apr-18

360.00

6,399.20

155

AKI INTERNATIONAL LIMITED

IMPORTATION OF MOTOR CYCLE PARTS

6-Apr-18

315.00

200,000.00

156

AKI INTERNATIONAL LIMITED

IMPORTATION OF MOTOR CYLCE PARTS

6-Apr-18

315.00

268,800.00

157

WANDEL INTERNATIONAL NIG LTD

THREE WHEELERS (200CC MOTORIZED TRICYCLES -SPARK IGNITION) IN CKD - TVS BRAND, ENGINE TYPE:4 STROKE PETROL VERSION, ENGINE CAPACITY:200CC

6-Apr-18

315.00

134,000.00

158

WANDEL INTERNATIONAL NIG LTD

THREE WHEELERS (200CC MOTORIZED TRICYCLES -SPARK IGNITION) IN CKD - TVS BRAND, ENGINE TYPE:4 STROKE PETROL VERSION, ENGINE CAPACITY:200CC

6-Apr-18

315.00

134,000.00

159

WANDEL INTERNATIONAL NIG LTD

THREE WHEELERS (200CC MOTORIZED TRICYCLES -SPARK IGNITION) IN CKD - TVS BRAND, ENGINE TYPE:4 STROKE PETROL VERSION, ENGINE CAPACITY:200CC

6-Apr-18

315.00

268,000.00

160

WANDEL INTERNATIONAL NIG LTD

THREE WHEELERS (200CC MOTORIZED TRICYCLES -SPARK IGNITION) IN CKD - TVS BRAND, ENGINE TYPE:4 STROKE PETROL VERSION, ENGINE CAPACITY:200CC

6-Apr-18

315.00

268,000.00

161

ALPHA SYSTEMS INTL

BULBS(BRAND: PILLA)

6-Apr-18

360.00

20,000.00

162

CAPITAL TELL INDUSTRIAL LTD

FIRE EXTINGUISHER

6-Apr-18

360.00

20,000.00

163

DE GOLD FEATHERS ASSOCIATES INTL

SEWING MACHINE NEEDLE

6-Apr-18

360.00

20,000.00

164

OKEYDON GOLD CONCEPT LTD

CRANKSHAFT FOR DOLLMAR MACHINE

6-Apr-18

360.00

10,000.00

165

SENCO INTERNATIONAL COMPANY

DISCHARGE LAMPS(B22 MODEL)

6-Apr-18

360.00

20,000.00

RETURNS ON SOURCES OF FUNDS PURCHASED FROM CUSTOMERS FOR THE WEEK ENDED FRIDAY 6TH-APRIL 2018

TOTAL AMOUNT AVERAGE AMOUNT

EXCHANGE RATE

AMOUNT

305.65 359.00 359.00 314.50 358.50 358.00 358.50 305.65 305.65 305.65 305.65 305.65 362.01 305.68 305.23 356.00 356.00 356.00 356.00 356.00 356.00 356.00 356.00 356.00 356.00 356.00 356.00 305.10 358.00 337.30 337.30 357.00 357.00 355.00 305.65 305.65 305.65 356.00 356.00 359.00 304.60 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 305.60 305.60 360.00 305.81 356.00 356.00 359.00 359.00 305.60

25,000.00 10,000,000.00 4,000,000.00 100,000.00 1,000,000.00 65,000.00 90,000.00 498,514.77 548,780.80 66,265.70 110,112.68 1,347,834.97 7,624.72 21,243.16 2,086.96 127.56 633.04 1,739.59 1,504.10 339.69 514.21 50,142.69 166,008.05 459,551.24 369,989.51 103,108.52 136,535.81 500,000.00 68,888.83 2,000,000.00 8,000,000.00 1,000,000.00 1,000,000.00 151,110.06 236,117.12 1,149,189.71 52,625.53 1,253.76 318,432.71 12,256,600.00 43,300.23 67,376.46 188,098.44 108,568.17 96,533.92 29,462.06 14,692.35 62,297.54 111,019.15 244,203.42 579.50 131,446.09 97,742.34 186,237.04 36,890.53 4,562.13 2,570.22 1,367.09 367,519.24 10,000,000.00 5,516,595.00 10,000.00 63,227,936.41 1,019,805.43

44

T H I S D AY ˾ Í·Ë&#x153; ͰͮͯͶ

T H I S D AY ˾ MONDAY APRIL 9, 2018

45

8-10 May 2018 | Landmark Centre, Lagos

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T H I S D AY ˾ MONDAY APRIL 9, 2018

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48

MONDAY, APRIL 9, 2018˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Trump Warns of ‘Big Price’ after Suspected Syria Gas Attack An alleged chemical attack that left dozens dead in Syria’s rebel-held town of Douma sparked international outrage Sunday, with US President Donald Trump warning there would be a “big price to pay”, according to AFP. As international condemnation poured in, there were reports that just hours after the alleged attack rebel forces had agreed to evacuate Douma, their last holdout in the onetime opposition stronghold of Eastern Ghouta.

Trump’s threat came exactly a year and a day after the US fired cruise missiles at a Syrian air base in retaliation for a deadly sarin gas attack in 2017.

“Many dead, including women and children, in

One Killed, Dozens Wounded in Clashes in Central African Republic At least one civilian was killed and dozens of United Nations peacekeepers, civilians and militia fighters were injured during an operation against armed groups in Central African Republic’s capital on Sunday, Reuters reported a U.N. spokesman as saying.

Heavy gunfire erupted in Bangui’s PK5 neighbourhood – a Muslim enclave in the majority Christian city – at around 2 a.m., (0100 GMT) witnesses said, as peacekeepers and domestic security forces moved in to dismantle militia bases there.

Clashes continued into Sunday morning and smoke rose from the neighbourhood as residents fled to safety in other parts of the capital.

“We were sleeping at around 2.15 when we heard heavy and light weapons fire. This morning we saw (U.N.) and Central African soldiers in our alley,” said PK5 resident Abdoulaye Hamat.

“They pulled out and we don’t exactly know what happened.”

Herve Verhoosel, a spokesman for the MINUSCA peacekeeping mission, said 11 peacekeepers were wounded.

Around 20 people both civilians and fighters - were also injured, he said. It was unclear if the government forces involved in the operation suffered casualties.

Verhoosel said eight fighters had been arrested on Sunday.

mindless CHEMICAL attack in Syria,”Trump wrote on Twitter on Sunday, lashing out at Syrian President Bashar al-Assad and Russia’s Vladimir Putin, a key ally of the regime.

“President Putin, Russia and Iran are responsible for backing Animal Assad. Big price to pay,” he said.

Asked whether the US could again respond with a missile strike, White House homeland security adviser Tom Bossert told ABC television: “I wouldn’t take anything off the table.”

The regime and Russia both denied any use of chemical weapons as

“fabrications”.

The Russian foreign ministry called the latest reports a “provocation”, warning against “military intervention under farfetched and fabricated pretexts”.

Syria’s White Helmets, who act as first responders in rebel-held areas of Syria, said the attack took place late on Saturday using “poisonous chlorine gas”.

In a joint statement with the Syrian American Medical Society (SAMS), the White Helmets said more than 500 cases were brought to medical centres

“with symptoms indicative of exposure to a chemical agent”.

It said six people died while being treated, and rescuers found 42 more people dead in their homes with signs of similar symptoms.

Footage posted online by the White Helmets, which was not possible to verify, showed victims with yellowed skin crumpled on the ground and foaming at the mouth.

Other residents could be seen receiving treatment at hospitals, with shell-shocked medics holding up gas masks to motionless infants.

“The scene was horrifying. So many people were choking, so many people,” White Helmets member Firas al-Doumi told AFP from inside Douma.

“Most died immediately.

The majority were women and children,” he said.

“We only have four oxygen machines,” said Mohammed, a doctor inside Douma who told AFP they were not enough to treat the dozens coming in with breathing problems.

“The situation is really, really tragic. I’ve been working here for four years and have never seen what I

saw in the last few hours,” he said.

The reports prompted widespread condemnation and calls for an investigation.

UN chief Antonio Guterres said he was “particularly alarmed”, adding that any confirmed use of chemical weapons would be “abhorrent”.

Pope Francis described t h e a l l e g a t i o n s a s “ t e rr i b l e n ew s ” , s ay i n g : “Nothing, nothing can j u s t i f y t h e u s e o f s uch devices of extermination against defenceless people and populations.”

T H I S D AY ˾ MONDAY APRIL 9, 2018

49

MONDAY, APRIL 9, 2018Ëž T H I S D AY

50

NEWS

Ă?ĂĄĂ? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153; Davidson Iriekpen Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; davidson.iriekpen@thisdaylive.com, 08111813081

Emefiele Redeploys Nnanna, Assigns Portfolios to New DGs How Unity Bank signed $1bn investment deal with Milost

Ndubuisi Francis Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Obinna Chima Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x2018;Ă&#x2122;Ă?

Following the recent assumption of duty of the two new deputy governors of the Central Bank of Nigeria (CBN), the governor, Mr. Godwin Emefiele has approved the redeployment of Dr. Okwu Joseph Nnanna, from the Financial System Stability (FSS) Directorate to that of Economic Policy Directorate.

A statement yesterday by CBN spokesman Mr. Isaac Okorafor disclosed that the governor equally approved the deployment of Mrs. Aishah Ahmad in the Financial System Stability (FSS) Directorate, while Mr. Edward Lemetek Adamu has been assigned the portfolio of Deputy Governor, Corporate Services.

Mr. Adebayo Adelabu will retain his portfolio as Deputy Governor, Operations Directorate.

The statement said all the affected principal officers have since assumed duty in their new offices.

The statement added that Emefiele has emerged The GuardianEconomic Personality of the Year (2017) in recognition of his contributions to stabilising the Nigerian financial sector during the recession as well as the Bankâ&#x20AC;&#x2122;s effort in development financing.

Presenting the award to Emefiele at a ceremony held at the Eko Hotels and Suites, Victoria Island, Lagos, the President and Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, commended him and his team at the CBN

for their efforts at managing the Nigerian financial sector and intervening in critical sectors of the economy, particularly agriculture.

In his acceptance speech, Emefiele expressed appreciation to The Guardian for selecting him for the award and commended the outfit for its foresight and thoughtfulness at publishing the report on â&#x20AC;&#x153;Financing the Economyâ&#x20AC;?.

The CBN governor noted that the exposure of the Nigerian economy to global shocks was a reflection of the fact that Nigeria as a country was unable to sufficiently produce what its people consume, hence the huge dependence on foreign goods.

He attributed the inability of the country to sufficiently produce what it consumes to heavy dependence on the oil sector to provide the foreign exchange needed to finance the countryâ&#x20AC;&#x2122;s imports, poor diversification of the economy, and low factor productivity in key non-oil sector.

He also identified the ostentatious and elitist taste for imported goods in Nigeria and inadequate funding to strategic high impact and high employment multiplier sectors as major challenges facing the economy.

While noting that the level of credit in the domestic economy channelled to the productive private sector was critically below the levels required to place the Nigerian economy on the path of balanced, sustainable, and inclusive growth, Emefiele however assured that the CBN and the banks would continue to be catalysts to development

Buhari Leaves for London Today, To Hold Talks With Theresa May No date on his return Omololu Ogunmade Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; President Muhammadu Buhari will today leave Abuja for London, the United Kingdom capital, where according to the presidency, he will hold discussions on Nigerian â&#x20AC;&#x201C; British relations with Prime Minister Theresa May. A statement last night by Senior Special Assistant to the President, Media and Publicity, Malam Garba Shehu, which described the visit as official, added that the president would also meet May ahead of the Commonwealth Heads of Government Meetings (CHOGOM) scheduled for April 18 to 20.

THISDAY had reported last Monday that the president would arrive London today ahead of CHOGOM billed to take place next week.

According to Shehu, the president will also meet the Chief Executive Officer of

Royal Dutch Plc, Mr. Ben van Beurden, in connection with Shell and other partnersâ&#x20AC;&#x2122; plan to invest $15billion in Nigeriaâ&#x20AC;&#x2122;s oil industry.

He also said these investment ventures would lay the foundation for the next 20 years production and domestic gas supply, bringing with it all the attendant benefits both to the economy and the wider society.

The statement also said Buhari was due to renew discussions with the Archbishop of Canterbury, The Most Rev. and Rt. Hon. Justin Welby, whom it described as a good friend of the president, on inter-religious harmony in Nigeria and world-wide.

It also said further meetings had been scheduled for the president to see some prominent British and Nigerians residing in Britain.

No date was given on the presidentâ&#x20AC;&#x2122;s return.

in Nigeria, particularly as it concerns the vulnerable and needy in the society.

According to him, following a joint initiative by the banks in 2016, each bank contributed five per cent of its profit after tax to support the development initiatives of the government.

He added that the contributions to the fund were nearing the N60 billion

mark, adding that the CBN and the deposit money banks had concluded plans to unfold the disbursement criteria for the fund to the vulnerable sectors in Nigeria, which he said needed access to credit.

On the efforts by the central bank at countering the adverse effects of the global shocks, he said the CBN embarked on a number of short-term and long-

term policies such as a cycle of monetary tightening to rein in inflation, and external reserves management through the restriction of foreign exchange for imports of goods that can be produced in Nigeria.

He said the CBN also established a decisive withdrawal of the â&#x20AC;&#x153;de factoâ&#x20AC;? subsidy for the importation of 41 non-essential commodities with

unfolding successes, introduced various policies to eliminate FX speculators, bettors, roundtrippers and rent-seekers, and thereby stabilised the exchange rate with the establishment of the Investors-Exporters Window, among others.

Reeling off other achievements of the CBN, Emefiele said the

Contâ&#x20AC;&#x2122;d on Pg 52

COMFORTER

L-R: Renowned Petroleum Geoscientist and Vice President, Nigerian Association of Petroleum Explorationists (NAPE), Mrs. Doris Akpovwa; Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside; and Chairman of The Abuja Inquirer Newspaper, Dan Akpovwa, during the funeral obsequies for Hon. Godwin Fubara Lawson, father of Doris Akpovwa, in Abonnema, Rivers State.....yesterday

10 Killed in Benue-Nasarawa Border Attack Ortom condemns killings Ten persons were yesterday killed in Yelwata, a border town between Nasarawa and Benue States, following an attack by unidentified gunmen in the community.

According to a source, the victims were attacked in Yelwata by some hoodlums while on transit with some members of their families outside Nasarawa State.

The hoodlums, it was revealed, attacked their victims from a nearby a bush part where they were hiding.

The bodies of the 10 victims had since been recovered by security personnel.

Meanwhile the Benue State Governor, Samuel Ortom, has condemned the attack by hoodlums even as he commended the police for

swiftly arresting some of the suspects.

Ortom also urged the police and other security agencies not to relent in their investigation in order to apprehend all those found culpable.

He also called on those with useful information to assist the security agencies to arrest the culprits.

He commiserated with the

families of the victims and prayed God to console them.

He stated that Benue State was not at war and appealed to the people to restrain themselves from all lawless acts.

All attempts to reach the police to confirm the attack proved abortive as neither the police commissioner nor the spokesman for the state police command picked his calls.

Another Lootersâ&#x20AC;&#x2122; List will Be Released Soon, Says Lai Mohammed Hammed Shittu Ă&#x201C;Ă&#x2DC; Ă&#x2013;Ă&#x2122;Ă&#x153;Ă&#x201C;Ă&#x2DC; The Minister of Information and Culture, Alhaji Lai Mohammed, yesterday disclosed that another list of looters would soon be released by the federal government.

He, however, said no amount of â&#x20AC;&#x2DC;â&#x20AC;&#x2122;intimidation from any sideâ&#x20AC;&#x2122;â&#x20AC;&#x2122; would stop the release of the list.

Muhammed dropped the hint while speaking with the journalists late yesterday evening in Ilorin, the Kwara State capital, on his way to Abuja after his condolence visits to Governor Abdulfatah Ahmed, the people

of Offa, the state police command and the victims of Offa attack at the University of Ilorin Teaching Hospital and Offa General Hospital where they are receiving medical attention.

Speaking on the release of the alleged lootersâ&#x20AC;&#x2122; lists, he said: â&#x20AC;&#x153;We are not going to ask anybody not to go to court, but what we are telling them is that they should re-examine themselves because when the government came out with its list, it was confident of the evidence its has.â&#x20AC;&#x2122;â&#x20AC;&#x2122; He also said: â&#x20AC;&#x2122;â&#x20AC;&#x2122;No government worth its salt when challenged , would not come out to prove

that what itâ&#x20AC;&#x2122;s saying is correct. â&#x20AC;&#x153;When it comes to evidence, it is for the courts to decide, but we want to make it clear that no amount of intimidation from any side would prevent government from releasing the next batch of lootersâ&#x20AC;&#x2122; lists and what you have seen so far is a tip of the iceberg. â&#x20AC;&#x153;When the list comes out, you will see many people that Nigerians did not suspect partook in the national looting.â&#x20AC;?

He also explained that the release of the lootersâ&#x20AC;&#x2122; list by the federal government should be not understood, adding that the Vice President, Professor

Yemi Osinbajo, was challenged when he said that a few days to the hand over of the former President Goodluck Jonathan administration, about N100billion was shared by the members of the Peoples Democratic Party (PDP).

He therefore said: â&#x20AC;&#x2122;â&#x20AC;&#x2122;Interestingly, we have people saying that they are going to court. You see courts are for the accused and the accuser; courts are for the rich and the poor, courts are for the government and the governed. So anybody who says that he is going to court, that shouldnâ&#x20AC;&#x2122;t frighten anybody.â&#x20AC;&#x2122;â&#x20AC;&#x2122;

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NEWSXTRA

FG Orders Anti-graft Agencies to Probe Infractions against Public Procurement Act Ndubuisi Francis ÓØ ÌßÔË The federal government has directed the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other Related Offences Commission (ICPC) to investigate infractions against the Public Procurement Act (PPA), 2007.

The government said such step had become necessary in order to bring to book any civil servant found colluding with contractors to subvert the provisions of the law.

The Secretary to the Government of the Federation (SGF), Boss Mustapha, who hinted about government’s directive at the 2018 Procurement Retreat for Chief Executive Officers (CEOs) of federal government agencies and parastatals in Abuja, said any chief executive found to have conspired with contractors to sideline the procurement process and procedures contrary to the Act would be dealt with.

The retreat entitled: ‘Public Procurement for Sustainable National Development’, was organised by the Bureaus of Public Procurement (BPP) in conjunction with the Office of the Secretary to the Government of the Federation.

The SGF said: ‘‘The ICPC and the EFCC are currently investigating cases of infractions which is against the PPA 2007, with

the hope of punishing any civil servant found to have colluded with contractors to subvert the rules of the Act. ‘‘Any CEO who defaults or collude with contractors or found to sideline the procurement process and procedure, there acting contrary to the provisions of the PPA, 2007 would be sanction,’’ he said.

The SGF, who was represented by the Permanent Secretary, General Services in the Office of the SGF Olusegun Adekunle, also stated that the federal government had ordered all its ministries, departments and agencies (MDAs) to adhere strictly to the PPA Act 2007 in contracting out projects.

Mustapha noted that the CEOs of the parastatals being the accounting officers of implementing agencies have crucial role to play in national infrastructure development, building skills and competencies that are critical for the execution of transparent and efficient public procurement that guarantees good value for money.

He warned CEOs not to do business with any government contractor without proper registration on the national database hosted by the BPP, adding that every government agency must henceforth has a full-fledged procurement department manned by BPP

Top WHO Officials to Meet in Nigeria for First Time Senator Iroegbu ÓØ ÌßÔË The top management of World Health Organisation’s (WHO) Global Policy Group (GPG) will hold a week-long meeting in Nigeria for the first time starting from April 10 to 12, 2018.

The Minister of Health, Prof.

Isaac Adewole, disclosed this in statement yesterday by the Director of Media and Public Relations, Ministry of Health, Mrs. Boade Akinola.

Adewole said the GPG membership is made up of the Director-General, Deputy Director-General, six Regional Directors and Executive Director of the WHO Emergencies Programme.

According to him, the group is an internal advisory mechanism to the DirectorGeneral (DG) established to ensure the coherent implementation of decisions, policies and strategies of WHO across all levels of the organisation.

The minister said: “Nigeria is honoured to host the Director General and Regional Directors of WHO at this auspicious time.”

He also said the presence of WHO’s top decision makers provides opportunity for Nigeria to strengthen collaboration with the organisation.

Adewole also stated that

WHO Director General, Dr. Tedros Adhanom Ghebreyesus, and regional directors are expected to pay a courtesy call on “President Muhammadu Buhari to congratulate him on his laudable efforts to improve the health and well-being of Nigerians, and the commendable aspiration of reaching over 100 million Nigerians with basic minimum package of primary healthcare services.”

The minister said Tedros would carry out a full programme of activities including field visits to relevant health agencies such as Nigeria Centre for Disease Control (NCDC), Revitalised Model Primary Health Centre (PHC) at Kuchingoro, Abuja, and to also hold discussions with high-ranking government officials and key stakeholders.

He further stated that the discussions would focus on WHO’s technical support to strengthen the country’s health system to achieve the health related Sustainable Development Goals within the context of revitalisation of PHC for universal health coverage and humanitarian response in the North-east.

While in Nigeria, he said the WHO director-general would also launch the implementation of the Eliminate Yellow Fever Epidemic (EYE) Strategy in Africa on April 10 2018.

trained and certified officers.

He also urged them to liaise with their supervisory ministers to ensure that compliance with the provisions of the public procurement Act 2007. ‘‘Every government agency must avail itself with the BPP training programmes both at the BPP Training Centre in Abuja and other Public Procurement Research Centres in the Universities by the Bureau. The MDAs are directed to patronise only BPP accredited firms. ‘‘Every government agency must comply with SGF Circular on procurement

plans and procurement records. Government will not hesitate to deal with any erring agencies that are yet to submit their procurement plans and procurement records of the previous year and the current year (2017-2018) respectively, ‘‘It is mandatary for every government to use the public procurement documents as authorized by the BPP, such as the Standard Bidding Documents (SBDs) and other BPP documents.

“All agencies must deemphasis the use of selective tendering methods as the norm rather than the Open

Competitive methods as prescribed by the PPA 2007. ‘‘Agencies must ensure that they have the final engineering design for any project to reduce the high rate of fluctuations and variations. ‘‘Government is in the process of implementing e-government process that will help to prevent corruption,” he said.

In her goodwill message, the Head of Service of the Federation, Mrs. Winifred Oyo-Ita said a good procurement process is critical to transparent and good procurement processes.

She said officers must stand firm and commit to play by the rules for a more efficient, transparent and cost effective contracting and execution of projects, urging them to be very thorough in applying the rules with high sense of responsibility.

Oyo-Ita, who was represented by the Permanent Secretary in the Office of the Head of Service, Mr. Ndubuisi Osuji, said the retreat would serve as a launch pad for budget implementation and growth process, adding that it would rekindle the public confidence in the BPP.

CONDOLENCE VISIT

L-R: Minister of Information and Culture, Alhaji Lai Mohammed; Kwara State Governor, Dr. Abdulfatah Ahmed; and state Commissioner of Police, Lawan Ado, during minitser’s condolence visit to the governor over the robbery incident in Offa at Government House, Ilorin... yesterday

APC Non-NWC Members Forum Warn Against Toying With Buhari’s Second Term Bid Onyebuchi Ezigbo ÓØ ÌßÔË Ahead of today’s National Executive Committee (NEC) meeting of the ruling All Progressives Congress (APC), a forum of non-National Working Committee (NWC) members has expressed their support for President Muhammadu Buhari over the controversial tenure elongation for party executives.

The forum had earlier expressed support for the current NWC led by Chief John Odigie-Oyegun to be given another 12 months tenure extension.

THISDAY gathered that stakeholders of APC held several consultative meeting yesterday in Abuja in a bid to achieve a consensus on issues that might likely come up at the NEC meeting.

One of such issues is the modalities for organising a national convention.

At a press briefing yesterday in Abuja, the forum’s Chairman, Alhaji

Nasiru Danu, and spokesman of the forum, Jock Alamba, expressed support for President Buhari’s position on the tenure extension, warning that nothing should be allowed to truncate his second term bid.

The forum also dismissed reports that state chairmen of the party were being used to undermine the president’s position, adding that no chairman has done anything to oppose President Buhari.

“President Buhari’s concern for due process is legendary that we could not underrate his concern that since the law is an ass, our most likely 2019 presidential and other electoral victories should not be toyed or placed in jeopardy with legal niceties or put in harms way of fortune hunters.

“Our position is reaffirmed after a careful survey, which shows that 99 per cent of the entire membership and governors of our great party are in support of the president’s second term bid.

It is a common position that for the overall interest of our great country that the president should complete the critical infrastructural foundations he is laying.

“This means that with all hands on deck, we can avoid the risk of rancorous and conflict ridden intra-party elections which made majority of our leaders to clamour for one year elongation of tenure on the eve of February 27, 2018, National Executive Council (NEC) meeting,” the group said.

The forum, however, called on all APC members and supporters nationwide to disregard “a news headline from one of our national newspapers titled: ‘Governors move to stop plot to use chairmen against Buhari.’ “There is no such plot and no chairman is against Buhari, we are all behind Buhari.

“Accordingly, our forum has the fervent belief that APC like in the 10 December, 2014, presidential primary

and other primary elections will work together as a family and disappoint naysayers who are hoping for amageddon,” the forum maintained.

Clarifying why NEC members are in support of the president’s second term bid, the forum said: “We share the president’s unalloyed commitment to the rule of law and fine tenets of internal democracy; firm beacons he is laying to deepen our fledging democracy.

“He has in different fora, as a converted democrat, demonstrated his commitment to democracy as exemplified in the gubernatorial and senatorial elections which opposition political parties won in states like Anambra and Rivers State under his watch.

“This is a stark difference from the mid-term and other election results under the Peoples Democratic Party (PDP) 16 years of do or die politics.”

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INEC Report on Alleged Kano Child-Voters out Thursday Panel didn’t indict state, says governor Onyebuchi Ezigbo ÓØ ÌßÔË The Independent National Electoral Commission (INEC) will next Thursday make public the outcome of the investigative panel tasked to unravel the truth over allegations that its voter register in Kano State contains name of underage persons.

A source at the INEC’s headquarters said yesterday that study on the report of probe panel headed by a National Commissioner, Abubakar Nahuche, had been completed and that the commission’s Chairman, Prof. Mahmood Yakubu, is expected to meet with all the commissioners next Thursday before making the report public.

But the Kano State Governor, Abdulahi Ganduje, has said the INEC’s investigative panel could not establish any case of underage voting in the state.

THISDAY gathered that the commission had delayed its verdict in order to study the report carefully and make wide consultations on the matter.

On the assertion made by Kano State governor that the report did not indict his state, the INEC’s top official said the commission has not come out with any verdict yet, adding that the governor is entitled to his opinion.

INEC Chairman, Yakubu, had constituted an eightmember committee headed

by Nahuche to investigate the allegations of over aged voters in Kano and Katsina States.

He said the terms of references of the committee would be to ascertain if the voter register requested by the Kano State Independent Electoral Commission was actually used in the local council election; to investigate wide spread report that persons below the statutory age of 18 years voted using INEC register.

Against the background of widespread concerns by Nigerians over video clips trending in the social media which showed children far below voting age allegedly queuing up to cast their votes in Kano State, Ganduje said his officials were able to prove to the panel that nothing of

such happened.

Speaking with journalists at the weekend in Abuja, Ganduje said contrary to insinuations that child voters participated in the last local government election held in the state, there was no underage voters that voted.

He said verifiable evidence showed that the video clips being referred to were actually fake and had nothing to do with the state.

Concerning the video clips trending, he said it was a hypothetical and artificial election that was created just to tarnish their image.

“It is rather a photo shop.

We did not use the card reader and yet the child in the video clip was using a card reader. INEC came and did not find anything on the alleged underage voting. As far as we are concerned, there was nothing like underage voting in Kano State. It is the handwork of people who are out to blackmail our administration.

“I challenge any one who feels aggrieved about the Kano L-R: Group CEO, Heirs Holdings, Dr. Awele Elumelu; Celebrant, Emmanuel N. Nnorom; his wife, Florence; and Chairman, Heirs Holdings and State local council election to United Bank for Africa (UBA) Plc, Tony O. Elumelu, cutting the 60th birthday cake celebration of Emmanuel Nnorom in Lagos....weekend the court or the tribunal to prove any wrong doing. That clip went into the internet in EMEFIELE REDEPLOYS NNANNA, ASSIGNS PORTFOLIOS TO NEW DGS 2015 and we were able to verify that. sum of 393.5 billion had been Mr. Bernard Yew for Milost, Also, a separate document conversion price per common “I think the answer should released to 478 large scale dated September 4, 2017, the titled: “Re: Commitment share equal to the premium come from INEC. But for me, I agricultural projects since investment in the bank was Letter”, dated November price at the date of issuance think the local council elections the inception of the Anchor to be made in the form of a 14, 2017, was signed by Ms. of the convertible notes. were the most successful Borrowers’ Scheme in 2010, Milost Equity Subscription Tomi Somefun and Shehu “The payment of the elections in the state. even as the Bank was poised Agreement (MESA).

Mohammed, the bank CEO and purchase price and issuance “The chairman of our to disburse up to 400 billion at The MESA, subject to company secretary respectively, of the convertible notes to the electoral commission showed only 9.0 per cent interest rate certain restrictions, could be as well as Bernard Yaw and investor of each equity and them our records and proved under the Real Sector Support drawn down at the company’s Darlene Audler, president and notes draw downs will occur to them that the clip was taken Facility (RSSF), adding that the (Unity Bank) option, with the company secretary for Milost. on such date that is no later some years back. We used our strategic initiative was targeted company issuing shares to the It explained that Milost than 10 business days from the ICT experts to find out the at projects in manufacturing investor in return for funds. offered to invest up to $1 date of a draw down notice, first time that clip went into and agriculture, given the “The company controls the billion “Total Commitment unless otherwise agreed to by the internet. We discovered mutual interdependence of timing of any draw down,” Amount” in Unity Bank and the company and investor. that the clip first went into both sectors for the complete said the MESA. it “intended listed holding “The conversion price of the internet in 2015 because industrialisation of agro-allied The funds were to be utilised company in the U.S.-recognised a notes draw down will be you can always verify that. business. for the recapitalisation and stock exchange divided as calculated at the 5-day volume “So, I want to assure you growth of Unity Bank. follows: up to $700,000,000 weighted average price on the that there was no underage Unity Bank, Milost Deal Under the terms of of draw (the total equity component) business day immediately voting in Kano State. It was down, the agreement stated: in draw downs of common preceding the draw down a kind of blackmail, and Meanwhile, more information “At any time, the company shares of the company and notice, plus a 200 per cent anybody who is in doubt has come to light on how may, in its sole discretion, $300,000,000 (the total note premium on each note draw about the credibility of the Unity Bank Plc entered into an issue a ‘Draw Down Notice’ component) in convertible down notice.” election should go to court,” agreement with Milost Global and at no time shall the equity note draw downs, structured The bank was expected to he said.

Inc., a New York-based private tranche exceed $20,000,000 as MESA”. pay Milost a “commitment fee” Speaking on the credibility of equity firm, to support the and the Note tranches exceed All the equity and in connection with each draw the local council polls, Ganduje recapitalisation of the Nigerian $10,000,000.” convertible notes amounts down under the following said: “When you hold a local bank to the tune of $1 billion.

Also, the parties agreed were to be in U.S. dollars. terms: “A commitment fee council election where no one The agreement, which was that it was in their “common The document, however, of five per cent of the total was killed, no building was premised on the execution of interest that the price of the stressed that the agreement equity component in free burnt and several parties also a non-binding term sheet, was shares in the company stays at was subject to the satisfactory trading common shares 10 won elections and there was terminated about a fortnight a high level. For this reason, the completion of financial, business days upon receipt not security crisis during the ago. investor will not engage in any regulatory and technical due by the company of the initial polls, then such an exercise can The Securities and Exchange practice, such as short selling, diligence and approval from equity draw down amount be said to successful.”

Commission (SEC) at the that could have a negative the investment committee, from the bank account of weekend said it was still impact on the share price”. board of directors from both the company. investigating the matter The document added: investor and Unity Bank, and “A commitment fee of five and would come out with “This MESA is the only share the execution of MESA entered per cent of the amount of each a position after the exercise. subscription (defined as an into between the Nigerian bank note draw down is payable to The bank had in a recent issue of shares to financial and Milost Global Inc., as the investor in cash upon receipt statement to the Nigerian Stock investors structured over new investor. by the company of such note Exchange (NSE) explained that time with each tranche and In terms of the convertible draw down amount from the Abubakar, according to the term sheet agreement was draw down made at the note, the document, among bank account of the company.” the statement, has served in for discussion purpose only. discretion of the company, other terms, stated: “It shall Milost had alleged that the eighth Senate representing But two separate documents which the company is currently mean unsecured convertible soon after the information Taraba North where he served obtained by THISDAY that negotiating. notes bearing simple interest on the agreement was made as Chairman of Committee on were signed by representatives “The company agrees not (no compounding of interest) at public, it started receiving NEPAD and member of other of both parties defined the to enter into a new share five per cent per annum, with threatening emails from committees. terms of the agreement. subscription facility agreement interest payable quarterly in someone who said he was The 53-year-old former For instance, under the “Pre- with any other investor other arears in cash, a maturity date politically connected to the lawmaker also served as deputy IPO Term Sheet Agreement” than Milost Global Inc. from of five years from the date of powers that could shut Milost governor before his election into that was jointly signed by the the date of the MESA term issuance, and which principal out of Nigeria if it did not the Senate in 2015 which was erstwhile chairman of the sheet until the close of amount shall be convertible terminate the Unity Bank eventually annulled. bank, Mr. Thomas Etuh and documentation for MESA.” into common shares with a transaction.

Saraki Appoints Ex-Senator as Special Adviser Senate President, Dr. Abubakar Bukola Saraki, has approved the appointment of Senator Abubakar Danladi Abubakar as his Special Adviser on Special Duties.

According to a statement by the Special Adviser, Media and Publicity, to the President of the Senate, the appointment takes immediate effect.

60 HEARTY CHEERS

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PANDEF Frowns at Non-implementation of 16-point Agenda by FG Warns peaceful dialogue should not be taken for granted Okon Bassey ÓØ ãÙ The Pan Niger Delta Forum (PANDEF) has advised that the peaceful disposition of the people of the Niger Delta region should not be taken as a sign of weakness, vowing to pursue vigorously the 16-point agenda presented to the federal government on how to tackle crisis and development of the region and the country.

The Chairman of PANDEF and former Military Governor of Akwa Ibom State, Idongesit Nkanga (rtd), who made the call at the weekend at the inaugural meeting of the new executive of the body in Uyo, Akwa Ibom State capital, complained of lack of significant progress since the 16-point agenda which is like a template for a lasting peace to be achieved in the region.

The federal government, PANDEF said, was yet to fulfill what it promised the region after series of meetings which culminated in the visit of the Vice President Yemi Osinbajo to the region last year to further strengthen government commitment to the region.

Nkanga stressed the resolve of the forum to pursue the realisation of true federalism and the restructuring of the country as well as the continued use of dialogue in resolving all contentions issues for equity

and fairness among all the federating units.

“I would like to use this opportunity to make a passionate appeal that there must be a new way of searching for peace. For this cause, Isaac Daka Boro and Ken Saro Wiwa died, while Odi was levelled. If you want to operate federalism, you must listen to the voices of the people,” he said.

Nkanga noted that even when the vice president during his visit to the region called on International Oil Companies (IOCs) operating in the country to relocate their head offices to the Niger Delta, such directives had not been implemented.

“The issues we are talking about here include the cleanup of Ogoniland which has remained as it is when it was flagged off. We are also talking about an end to gas flaring which we have not seen, rather the federal government is collecting penalties for that and sharing it equally to all states meanwhile only the people of Niger Delta continue to suffer the horrific effects of gas flaring.

“We are also talking about the relocation of headquarters of IOC to their areas of operation, and there is also the issue of smuggling of offshore/onshore oil dichotomy into the El Rufai committee on restructuring. The Green Tree agreement, modular

refineries and corruption are some of the issues bordering the people of the Niger Delta,” he said.

PANDEF insisted that the 50 per cent derivation principle on mineral resources be restored, regretting that the arrangement which led to prosperity of the old regions of the country was suddenly abandoned after the discovery of oil in the Niger Delta.

“The old revenue sharing formula which had 50 per cent going to the regions, 30 per cent into the distribution pool and 20 per cent for the development of the federal capital led to the varying development we saw in the old three different regions of the country. We wondered

why it was suddenly abandoned after the discovery of oil in the Niger Delta,” he said Nkanga posited that the relative peace now being enjoyed in the region was a result of intervention by PANDEF which has resulted in increased oil production and huge revenue to the federal government coffer.

“You may have seen responses by our youths. They believe and trust that the elders are doing the right thing. It is that relative peace that we have that has helped to sustain the increase in oil production. By the window of ceasefire, the production went up to 2.2 million barrels per day about N83 billion per day which we are giving this country.

“Sadly, with this money, you see development in other areas but nothing comes to the Niger Delta. That is why restructuring is important as well as justice to the Niger Delta,” he stated.

The chairman of the forum observed that the government was living in denial and suppressing the desires and wishes of many regions of the country which have given rise to crisis in almost all parts of the federation.

“We have been living in denial and if you continue to suppress it, it will erupt as it has erupted today. In all the regions, something is happening.

In every street, we have seen soldiers. We are under siege.

“In the Middle Belt, there is

a problem, in the South-east, they are talking about operation python dance, in the Southsouth, they are talking about operation crocodile smile, it therefore means there is something that is not quite right in the country,’’ he added.

PANDEF, he said, would continue to use dialogue as a tool for conflict resolution.

He added that PANDEF as the voice of the Niger Delta region, was working with other recognised groups in the Southeast, South-west and the Middle Belt to ensure a peaceful resolution of conflict in the country.

Nkanga noted that such meetings and dialogue would ensure a paradigm shift in governance of the country.

Oshiomhole Urges Buhari to Be Ruthless with Looters The former Governor of Edo State, Mr. Adams Oshiomhole, has called on the President Muhammadu Buhari-led federal government to adopt a “ruthless” measure against alleged looters of the nation’s treasury.

Oshiomhole, who disclosed this in Benin City yesterday, described as mindless the stealing by the former PDP-led federal government.

The former governor, according to the News Agency of Nigeria (NAN), noted that it was the right of Nigerians to know the level of rot that transpired in former President Jonathan’s government.

“I think that if other Nigerians don’t understand the power of transparency, the right to know, the media should uphold that right and defend it.

“What was stolen was not from private purse; the house that was destroyed was not a private residence.

“We are talking of resources, which if it is distributed on basis of equality, divide by 180 million people you will be a lot richer.

“I think my only complaint is that the federal government should be more ruthless because there are lot of people who should be in court who are not there.

“When I was still in the office and I said the kind of money they stole was huge in dollars, they paid hired writers to ask how I knew.

“I have interacted with power vertically and horizontally.

I know that we cannot be lamenting today without

understanding that the treasury was burgled yesterday.

“I think the promise of democracy is that good or bad, the people have the right to know and that is the starting point and particularly important.

“I think the people have the right to know and if any of them think that what has being said is not true, they can go to court.

“All of them who are involved and those who they are looking for, they should put everything in public domain and that is the promise of democracy and it is about you.

“Just by virtue of being in a winning party they helped themselves so much.

“One of the acting Chairmen of PDP, Ahmed Makarfi, I used to respect him so much, I heard him saying that the reason they did not indict Diezani AlisonMadueke was that the money missing and everything that was done, Jonathan approved.

“If president approved the money, should it be stolen and not go into the federation account or used for the intended purpose.

“Jonathan may have immunity against prosecution but he doesn’t have power to appropriate what the National Assembly have not done.

“Right now, they are now saying the national assembly should not approve the $1 billion the federal government is going to spend on security.

“This is a party that spent well above that without going to the National Assembly.

PRODUCT LAUNCH

L-R: Executive Director, Institutional Banking, Sterling Bank Plc, Emmanuel Emiefenim; Managing Director/CEO, Abubakar Suleiman; Chairman, Primero Transport Limited, Chief Demola Seriki; Executive Director, Operations and Services Yemi Odubiyi; and Executive Director, Corporate and Investment Banking, Kayode Lawal, during the launch of the enhanced Lagos Connect EMV Contactless Card, in Lagos….weekend.

Youth Wing Suspends Nwodo as Ohanaeze President General Christopher Isiguzo ÓØ ØßÑß The youth wing of the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, yesterday announced the suspension of the organisation’s President General, Chief John Nnia Nwodo.

The latest stance of the youth group said to have long been disbanded by the parent body, has further deepened the disagreement that is gradually building up in the socio-cultural body. The suspension which was contained in a statement sent to journalists in Enugu, was signed by Okechukwu Isiguzoro, President, Ohanaeze Youth Wing; Okwu Nnabuike, Secretary General, Ohanaeze Youth Wing; Obinna Adibe, National Public Relations Officer, Ohanaeze Youth Wing, and one Mrs. Calista N. Adimachukwu, President General, Ohanaeze Igbo Women Organisation.

The youth wing had last week

passed a no confidence vote on Nwodo and also served him seven-day ultimatum to appear before a disciplinary committee to answer allegations levelled against him which mainly border on running a one-man show, lack of transparency and engaging in partisanship.

However, instead of responding to the issues raised by the group, the parent body announced that elections would be conducted for the disbanded Ohanaeze Youth Wing and Ohanaeze Women Wing on April 20 and 21 respectively.

Apparently irked by the position of the organisation, the Youth wing led by Isiguzoro, announced that with the sevenday ultimatum given to Nwodo having expired without any response as directed, they had no other option than to suspend him from office. “Having failed to appear before the seven-man panel to clear himself of all

the weighty gross breaches of office and constitution of Ohanaaeze Ndigbo, we take the investigative panel’s submission that by so doing, he seems to have nothing to prove wrong as catalogued against him by Ohanaeze Youth Wing;,Nwodo is hereby suspended and should not be seen around Ohanaeze Ndigbo secretariat nor operate by proxy!

He remains suspended!

“That Nwodo’s Ohanaeze Ndigbo, misrepresented, is now calling for elections in both Ohanaeze Youth and Women wings with promising threats of selling forms to gullible aspirants is another political mischief showing gross case of maladministration and intolerance of opposing views with the sole intent to dismember the youth and women wings, more.

“While this remains condemnable, we shall resist

this Nwodo’s sham with the last drops of our bloods till Ohanaeze Ndigbo is rescued and reorganised with a National Acting Steering Committee in-charge, and we call upon the Igbo leaders of thoughts especially the mature minds and notable among others, Ime Obi, Ohanaeze leaders namely Prof Ben Nwabueze, Chief Mbazulike Amaechi, Dr. Dozie Ikedife, Prof Amuche Azi, Dr. Kate Onwe, Chief Ralph Obioha, Chief Obi Nwaka, Isaac Wowu, Richard Ozobu, Rear Admiral Ndubuisi Kanu to come to Ohanaze Ndigbo’s rescue.”

In a swift reaction, Nwodo who spoke through his Media Adviser, Chief Emeka Attamah, dismissed the suspension as a huge joke, wondering who between the main body and the youth wing has the authority to suspend each other.

MONDAY, APRIL 9, 2018˾ T H I S D AY

54

NEWSXTRA

We’ll Defeat Buhari in Katsina, Says PDP Party slams APC, presidency over pastors’ endorsement The Peoples Democratic Party (PDP) has said it will secure electoral victory against the All Progressives Congress (APC) in President Muhammadu Buhari’s home state, Katsina, in 2019.

The National Chairman of PDP, Prince Uche Secondus, said his party would regain power in Katsina State in the next election.

A statement issued by the Special Assistant to the PDP chairman on Media, Ike Abonyi, quoted Secondus as saying during a rally in Katsina at the weekend where members of the APC who defeated to the PDP were admitted into the party that the woeful performance of the APC in the state and at the federal level makes victory in

the state an easy one.

The PDP chairman said the populace in the state are anxious to see off the APC hence their slogan ‘let’s chase away hunger in 2019’ which to them is what the APC represents.

Secondus told a mammoth crowd of PDP members and supporters that Nigerians can no longer endure the suffering brought about by the APC administration.

He told the rally organised by the North-west zone of the party to formally welcome decamping members to the party that the APC has nothing to offer Nigerians.

“In Katsina State, APC has nothing to show outside what the late Umaru Yar’Adua and Ibrahim Shema did for you.”

Northern Christian Elders Disown Arewa Pastors Seriki Adinoyi ÓØ ÙÝ The Northern Christian Elders Forum (NOCEF) at the weekend disowned the Arewa Pastors of Non-denominational Initiative for Peace in Nigeria whose controversial visit to the presidency has unsettled the Nigerian Christians, especially in the North.

NOCEF said they neither emanated from the conglomeration of 15 churches under the aegis of Tarayar Ekklisiyoyin Kristi A Nigeria (TEKAN) (meaning, Hausa, Fulani and Kanuri Christians) nor Evangelical Church Winning All (ECWA), the two blocs of Christian Association of Nigeria (CAN) in the North.

While warning President Muhammadu Buhari, “never to spend tax payers money on them,” the Christian elders threw their weight behind CAN which described the visiting clerics as aliens to the body of Jesus Christ in Nigeria.

A statement issued in Jos by the Public Relations Officer of NOCEF and Secretary of CAN (North West Zone), Rev SundayOibe, said: “Those who betrayed Christians” during their political pilgrimage to President Buhari “should be treated like Judas Iscariot.”

According to him, the refusal of the so-called Arewa pastors to demand the release of a female student of Government Science Technical College, Dapchi, Yobe State, Leah Sharibu, from Boko Haram captivity was “a confirmation of the fact that they are not Christians.”

He said: “Ordinarily, just coming out from the great sacrifice of Jesus Christ at Easter for our salvation, and still reflecting on the benefits of this sacrifice, we would not have bothered to respond to them. But for incessant calls from notable Christians across the country, it is necessary to put the records straight.

“They should be treated like Judas Iscariot because their action is antithetical to the body of Christ. The summary of the action of these so-called Arewa pastors led by one John

Richard Abu from Benue State, and the timing is a confirmation that the spirit of Judas Iscariot is still around and within us.

“For Judas to agree to betray Jesus Christ before the Jewish authorities and for these unknown Arewa pastors to betray the Nigerian Christian community who have been crying for the release of Leah Sharibu has confirmed that Judas is alive among us. We also call on Christians to intensify their prayers for the immediate and unconditional release of Leah Sharibu, while we also urge the president to step up and end the killings in the country.”

Oibe described them as Available-for-use Political Clerics (APC), whose conducts can best be described as unfortunate.

He said the calibre of those who visited Buhari have been known to be only relevant at the peak of political activities, adding: “What we are witnessing now is a rehearsal of what to come during the 2019 general election.”

Oibe queried: “Why are their voices lost over the continuous captivity of Sharibu, if truly they are men of God as they claimed?

Why are their voices not being heard over the killings in Benue, Plateau, Taraba, Adamawa, Zamfara, Borno and Yobe States?

“While they were sycophantly singing praises to Buhari like the Biblical Judas Iscariot, dozens were being slaughtered in Benue, the home state of John Richard Abu, and as usual, their voices were lost.

“We hereby state that these strange faces and political jobbers are unknown to us in the North as they spoke for their pockets.

As such, Buhari should beware of these traitors! Their claim of Buhari’s good intentions is simply sycophancy because Nigerians voted for an actionable leader and not a leader whose intention is only known to these hungry clerics.

“We are telling the president and Nigerian politicians to be wary of these political jobbers dressed in cassock as their intentions are out for everybody to see. In particular, we warn the President Buhari never to spend tax payers’ money on them.”

“PDP is the only party that has the interest of the people at heart, it’s the only party that will guarantee national unity,” he told the crowd.

Meanwhile, the PDP has described the recent endorsement of APC and the Muhamadu Buhari presidency by some religious leaders under the auspices of Arewa Pastors as a stage-managed political gambit.

The opposition party said procuring individuals who masqueraded as religious leaders is a hypocritical and disgusting signs of desperation on the part of APC-led administration.

It said the Buhari presidency’s hiring of supposed Arewa Pastors was a second attempt to orchestrate fake endorsements ahead of the 2019 election, recalling the recent Martin Luther King Jr. saga.

They also alleged that huge amount of public funds have been earmarked by a cabal to procure endorsements for President Buhari.

PDP in a statement issued yesterday by its National Publicity Secretary, Mr. Kola Ologbondiyan, said both

procured endorsements, which had turned out to be fake, are to say the least, despicable and that it betrays the nervousness of a sinking leadership, desperately trying to save its face, having been rejected by the people.

“It is heartrending that because of the desperation of one man, the integrity of Nigeria’s seat of power has again been ridiculed as the world watched religious bodies and groups in the country disowning the procured band.

“The fact that this disgraceful drama came barely a week after our country suffered an international show of shame over President Buhari’s presentation with a procured award fraudulently linked to Martin Luther King Jr, speaks volumes of this administration’s proclivity for falsehood and deception.

“Having failed to gain any endorsements from reputable international figures such as Bill Gates and the Martin Luther Kings Jr group, the APC and the presidency have now shamelessly resorted to cheaper ways and means, particularly along

the unregulated and porous religious and sectional lines.

“It is now overtly manifest that the Buhari administration is ready to even stage anything, no matter how ignoble, including fake rescue missions, to deceive Nigerians.

“It would be recalled that the PDP had earlier alerted Nigerians of plots by the federal government to engage in orchestrated endorsements as well as issuing of false performance indices.

“These disgraceful endorsements are being coordinated by three presidential aides, a cabinet minister from the Southsouth and certain officials of the APC, a project for which billions of naira have been earmarked.

“This cabal is also responsible for the renting of crowds, who are usually conveyed in buses, trucks and trailers, to fill the space during President Buhari’s visits to various states of the federation, as witnessed in Benue State during the last visit of the president.

“That President Buhari could be begging for endorsements only points

to the fact that he and his cabal have lost the support of Nigerians whom his administration has subjected to horrible economic hardships, traumatic bloodletting and a bleak future.

“If President Buhari and his dysfunctional APC had performed to the least expectations of Nigerians, even by implementing the littlest of their numerous fake campaign promises, they would have no need for mundane gimmicks of procuring awards from well known street quacks ahead of the elections.

“We charge all credible groups in the country to be at alert and resist any attempt by the presidency, and APC to induce them to compromise their integrity, as well as guide against plots to use money to infiltrate and divide their ranks.

“The APC and Buhari presidency must admit that their time is up as Nigerians are now rallying with the repositioned PDP in the national quest to rescue our dear country from the incompetent, failed and deceptive administration of the APC, come 2019,” the statement said.

AGUSTO IN THE HOUSE

L-R: Executive Director Agusto & Co, Yinka Adelekan; Chief Risk Officer, Nigeria Stock Exechange (NSE) and representative of the Chief Executive Officer, Mr. Tunji Kazeem; Managing Director, Agusto & Co, Mrs Vivien Shobo; Executive Director, Agusto & Co, Mr Isaac Babatunde; Associate Director, Agusto & Co, Mrs. Rita Emoefe, at the NSE closing ceremony by the Agusto & Co team n Lagos...recently

Wike Accuses FG of Plans to Frame Him up Rivers State Governor, Nyesom Ezenwo Wike, has raised the alarm over a plot by the federal government and her agents to frame him up by planting illegal items on him in any of his trips outside the shores of Nigeria, and have him quizzed and embarrassed by foreign security agencies.

A statement by his Special Assistant on Electronic Media, Simeon Nwakaudu, Wike noted that his investigation revealed the federal government is using her security agencies to plan the set up anytime the governor travels abroad.

The governor said: “My investigation reveals that the federal government using her security agencies is planning to set me up anytime I am

travelling outside the country.

They plan to organise security to storm the hotel I am staying and say they found xyz cash in my possession; after which they would say I was arrested for currency trafficking or whatever offences outside the country.

“They will then precipitate crisis in my state and other parts of Nigeria. They will plan demonstrations to demonise me and claim I have gone outside to embarrass the country. The public odium is meant to smear me before my people and other Nigerians. It is unfortunate, wicked and unfair.

“What they plan is similar to what was once done to the former Governor of Bayelsa State, late Chief DSP Alamieyeseigha.

They are planning what they call

the ‘Alams treatment’ for me.

But by the grace of Almighty God, they will fail.”

Wike said though he was neither scared nor disturbed by the plot, he felt the need to alert the nation and the world to the evil and dangerous dimension politics had degenerated to in the country.

He said: “I am using this opportunity to alert the world of the sinister plot. I am a lawabiding citizen of this country and countries I visit in the course of my work or holidays. I have never dabbled into anything illegal. So, any attempt to frame me up on trumped up charges or alleged offences is bound to fail.

“What they are doing is just cheap politics. They want to

intimidate the opposition into silence as they are already doing with their so-called ‘looters’ list’ It won’t work. We can’t all be intimidated. What we expect government at the centre to do is to showcase to the people their lists of achievements; why they should get a second chance. But they have nothing to show; so they are embarking on intimidation and arm-twisting tactics of the opposition.”

The governor said he was sure of resounding victory at the polls in 2019, because he has been serving the people diligently and efficiently.

“My works will speak for me My projects will speak for. The people of Rivers State will speak for me by voting me back. No shaking, “ he said.

55

T H I S D AY ˾ MONDAY, APRIL 9, 2018

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

C O M M O N W E A LT H G A M E S

Adegoke, Ogunlewe in Tough Sprint Final against Blake, Simbine Duro Ikhazuagbe Nigeria’s quest for a sprint medal at the ongoing XXI Commonwealth Games in Gold Coast, Australia rests on the shoulders of Enoch Adegoke today in the finals of the men’s 100m event.

Yesterday, Adegoke braved the strong field to win the second semi final race in 10.24 secs. Before then, he had set a Personal Best time of 10.19 to win his heat. That time is one of the fastest leading to today’s final behind Jamaican Yohan Blake.

Another Nigerian, Seye Ogunlewe also made the blue ribband event as one of the fastest losers in the semi final.

Ogunlewe finished 3rd behind Cayman Island’s Kemar Hyman and Akani Simbine of South Africa.

Former Nigeria’s sprint champion, Ogho-Oghene Egwero failed to make the final as he ran a dismal 10.42 to finish 6th in the first semi won by Blake (10.06) with Englishman Adam Gemili the runner up.

How Adegoke will make his podium placement a reality remains to be seen as he has

Blake with a PB of 9.69 with a season’s best of 9.90 and Simbine (PB: 9.89) and season best of 9.94 all to contend with.

Except for fa alse start violation and other sundry cases, Adegoke should be contended with lowering his PB even if he cannot make the podium.

Earlier yesterday, all three Nigerian semi finalists in the women’s sprint failed to make the final.

Isoken Igbinosun, Jennifer Madu and Joy Udo-Gabriel could not hit the final of the event Blessing Okagbare won four years ago in Glasgow, Scotland and even added the longer sprint to complete the double.

However, the performance of Udo-Gabriel was heartwarming to track and field aficionados as the 18-year old University of Lagos Undergraduate rekindled hope in future stars emerging from the local scene in the country.

The 11.53 she ran to finish 4th is the second fastest time of her fledgling career.

Meanwhile, there will also be finals in the men’s shot-put and the Para Athletics.

Goodness Duru will be also

Quadri Fortifies T/Tennis Squad The arrival of Table Tennis whizkid, Aruna Quadri has boosted the morale of his teammates as well as other Nigerian officials as the semi final of Team Event strokes off.

In the absence of Quadri, Segun Toriola piloted the team to berth in the semi finals which automatically guarantees a medal in the ongoing Commonwealth Games in Gold Coast, Australia.

Toriola was overwhelmed yesterday when he said at the Games Village that they’ve been fortified by the arrival of Quadri. ‘’We’re set to go in our events with the arrival of Quardri. His presence alone will ginger us not to talk of when he joins forces with us to play’’, Toriola said.

Also speaking yesterday, Coach Bello Nosiru said that Nigeria was at a touching distance for a medal and were buoyed with the arrival of Aruna Quardri. ‘’We played so well without Quardri but now that he is around, we won’t look back for our quest for gold in the Team event and the singles’’, Bello said. Quadri is the highest ranking player competing at GC2018 and Nosiru is confident the 29-year-old will cope with the pressure at the event to make a podium finish.

Quadri will be joined by Nigerian teammates Bode Abiodun and Segun Toriola, Azeez Jamiu and Olajide Omotayo in the search for Commonwealth Games men’s table tennis medals.

Moses, Friday , Others Dominate CBN Junior Tennis Championship The duo of Favour Moses and Gabriel Friday from Kaduna State, last weekend emerged winners of the U-16 boy and girls category of 2018 Central Bank of Nigeria Junior Tennis Championship which was rounded up at the National Stadium in Lagos.

In the girls’ final match, Mode overpowered Adeyemi Omolade from Ondo State 9-8 in a tiebreak game to win the category just as Gabriel Friday outclassed Lagos

state representative, Mathew Agbamu,also 9-8 to claim the boys’ category trophy.

Also victorious was the Oiza Yakubu of Lagos state who stopped Chidinma Eze from Anambra state 9-7 to win the girls 14 title even as Ekit state’s Daniel Adeleye defeated Friday Victor 9-4 to smile home with the Under 14 boys title.

Another champion was Ganiyu Mubarak who sent Phillips Pyagbara packing via 9- 3 defeat in under- 12 boys category.

be hunting for a medal in the Women’s F46 Javelin throw at the Carrara Stadium.

Samson Nathaniel and Chidi Okezie will also compete in the

400m men’s semi final.

Elsewhere at the Oxemford Studios, Nigeria’s Millicent Agboegbulem will fight Elizabeth Andiego of Kenya

in the quarter final of women’s 75kg boxing weight class while Lukmon Lawal faces Uganda’s Regarn Singwa in the men’s 81kg round of 16.

The men’s Table Tennis team will take on England in the semi final while D’Tigers also face Australia in the preliminaries of the basketball event in Cairns.

Nigeria’s Enoch Adegoke (right) with Rohan Browning in one of the heats yesterday in the 100 metres race in Gold Coast, Australia

I Will Deliver Nigeria’s First Gold, Kehinde Pledges As Nigerians look anxiously to the day the country’s national anthem would be played at the ongoing Commonwealth Games in Gold Coast as a sign that a gold medal has been won, one Paralympic athlete, Paul Kehinde has anointed himself as the one to end the anxious wait.

Kehinde competes in the Powerlifting 65 kg but has to contend with body weights from 49 to 72 who are equally eyeing the gold in that category.

The secret to a podium performance is not only dependent on what you lift but mostly determined by

the athletes body weight.

The lower you weigh, the better chances you have in overtaking those you tie with in the weights lifted. ‘’I’m focused. There is no problem here in the Village.

The only problem that I have is focusing on the gold medal.

And for me to strike gold, I have to lose weight not to be surprised by those weighing less than me’’, Kehinde said after a strenuous exercise that spanned hours aimed at keeping in shape for the D’ Day. Kehinde may look harmless but his credentials and the

number of World Records he has crashed speaks for him.

“Every competition he attends, he breaks World Records’’ national Paralympic Coach, Are Feyisetan said, concurring that his athlete was a gold material.

Kehinde smashed the World records in Rio Brazil for the Olympics where his amazing lift of 220kg could not be attempted by other athletes. In Mexico at the World Championships, Kehinde shattered his own World record with 221kg lift. He did not stop there. At the World Cup and Olympic qualifiers in Dubai

in February, Kehinde went for 222kg lift. The World looked in amazement and he powered the lift to the sky and held it up until the mandatory counts to make history again.

Out here though, Kehinde is facing difficulties because of the logging of so many weights together to fight for the weight. ‘’I’m ready and focussed but I want to lose weight so as not to be knocked out by those whose body weights are smaller than mine. I promise to deliver Nigeria with a gold and also a world record’’, he pledged as his competition begins on Wednesday.

Lagos Pledges Support as 7th Greensprings/Kanu Football Camp Begins Impressed with the organisation and the impact the annual Greensprings/Kanu Football Camp has had on grassroots football; the Lagos State Sports Commission has pledged its support to the organizers of the clinic.

From today April 8, hundreds of students across Nigeria will converge at the Lekki Campus of Greensprings School, as the 7th edition of the football camp begins under the watchful eyes of coaches from England and Netherlands, supported by their Nigerian counterparts.

According to the Executive Chairman of Lagos State Sports Commission, Kweku Tandoh, the management of Greensprings School should be commended for the initiative

as well as the lives of young people the camp has touched positively.

“It is a very good initiative and it has been on now for about 7years. For the camp to have gone this far, shows that it was well thought through and we can see the results of the program over the years. Lagos State especially has benefited a lot from the camp in terms of talent development and identification. For us, it also typified the path we want to follow; that is developing sports and education and ensuring that we are combining sports and education for our athletes because we want them to have a life after sports. There is no better guarantee than having an educational foundation. We

are pleased with the camp and we are happy that it is going on so well and success stories are all over. We have two of the scholarship recipients presently

in the Nigerian U-15 national team. It is a good program and we must commend Greensprings Schools for this initiative.

MFM, Akwa Utd Walk on Tight Rope The chances of top Nigerian club sides, Mountain of Fire and Miracle FC and Akwa United to reach the group stage of the CAF Confederation Cup got slimmer yesterday following the disappointing show they put up against their respective opponents.

MFM failed to impress at their traditional home ground as visiting Djoliba FC of Mail scored a late goal to win the first leg match by a lone goal

at the Agege Stadium with the return leg scheduled for Wednesday is week in Bamako.

In another encounter, Al-Hillal of Sudan defeated visiting Akwa United FC by two first half goals and the Nigerian side will have a mountain to climb during the week in the return leg in Uyo where must score three goals without conceding to reach group stage of the competition.

TR

Monday April 9, 2018

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MISSILE Magu to Heads of Public OďŹ&#x192;ces â&#x20AC;&#x153;It has come to our knowledge that heads of public oďŹ&#x192;ces try to steal from public coďŹ&#x20AC;ers through the procurement processes. Everybody has a duty to ďŹ ght corruption. I want to warn that only strict adherence to 2007 Procurement Act will save you from jail termâ&#x20AC;? â&#x20AC;&#x201C; Acting Chairman of the Economic and Financial Crimes Commission , Mr. Ibrahim Magu, berating Heads of Public OďŹ&#x192;ces for corruption.

ALEXOTTI OUTSIDE THE BOX

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alex.otti@thisdaylive.com

I Am Not Overweight, The Scale is Faulty

T

he anecdote I am about to relate occurred sometime in 2007. My daily routine started with being at the gymnasium (gym) by 6am, work out for an hour and a half and head out to my office to be at my desk by 8am. This routine helped me achieve a few things on week days. It ensured that I maintained the discipline of working out at least five times a week. Those who know better about the subject of healthy living advise that we need to work out three to four times a week, particularly when age begins to knock on our door. Beyond this, it also helped me avoid the very crazy Lagos traffic as there were hardly cars on the road by 5.45am when I used to leave my house. The commute from the gym to my office was also smooth as the gym was close to my office. More importantly, it helped me sustain a culture of being at my desk promptly by 8am. I recall that I used to achieve a whole lot between 8am and 9am before the pressure built up from different quarters when the rest of the staff resumed. This culture has remained with me even when there is no need to resume that early. Finally, the gym sometimes has become a rendezvous of some sort, where people go to chat, network and catch up with friends. Anyone, who showed up at the gym that early, must be serious at working out. Of course there were exceptions to that routine.

There were days I may be otherwise busy till midnight or early hours of the morning and may not be able to hit the gym that early.

On this fateful day, as I was coming into the gym by about 5.50am, I noticed this plump (a euphemism for fat) lady, climb the scale and come down. I watched her with curiosity, even though she was so consumed in what she was doing that she failed to notice me. She repeated the climbing and alighting exercise for upwards of four times. It occurred to me that this lady was struggling with something. She had engaged the scale in a mental argument. She did not want to believe the result coming out of the scale. She was hoping that as she climbed the scale, it would produce a lower figure than her actual weight. I therefore decided to offer her some help that may give her a little comfort, even if momentarily. I then told her not to mind the scale as it was faulty. She screamed in excitement; â&#x20AC;&#x153;I thought as much! Oh thank you very muchâ&#x20AC;?. I immediately added, â&#x20AC;&#x153;The scale adds 5kg to everyoneâ&#x20AC;&#x2122;s weight!â&#x20AC;? It was then that she realised that I was teasing her.

She didnâ&#x20AC;&#x2122;t find this funny as she thoroughly abused me for making a joke out of an otherwise, very serious situation.

The import of the foregoing story is that there is always a tendency for people to shift the blame when something seems to be going in a direction they donâ&#x20AC;&#x2122;t like. It is natural. I remember several years ago when the consulting firm KPMG used to do customer service peer review of banks. They would go from bank to bank to present and take questions on their findings. The kind of responses and questions that used to come from departments that didnâ&#x20AC;&#x2122;t do well were predictable. They will start by questioning the methodology used for measurement and end up disputing the conclusions. You will hear comments like, â&#x20AC;&#x153;you are comparing apples with oranges. We have 10 million customers while the bank adjudged as the best has only half a million customers.

You canâ&#x20AC;&#x2122;t be comparing us with themâ&#x20AC;?. At the end of the day, what is important is customer experience. The customer does not care about the number of customers you are serving. His

Vice President, Yemi Osinbajo

experience is 100% and if your service is below par, that you had millions of others to serve is just an excuse that is relevant to you and not the customer. Unfortunately, KPMG was interested in what the customer was saying not your lame excuses. By the way, I have always held the view that there is a reason why something that should have happened did not happen, or why something that should not have happened, happened. Those reasons, however, remain in the realm of excuses. Again unfortunately, excuses, do not count, results do!

This is also true about a lot of other measures including those that we donâ&#x20AC;&#x2122;t come out with good ratings. Recently, the world transparency watchdog, Transparency International, came out with its current rating on the Corruption Perception Index CPI which ranked Nigeria as No. 148 out of the 180 countries ranked with a score of 28%. This is against our ranking of 136 out of 180 countries in 2016 with a score of 27%. This means that we dropped 12 places in 2017 below our ranking a year earlier. As would be expected, many Nigerians particularly the government took turns to dispute the ranking. In fact, I read one analyst who faulted the entire ranking methodology and ended up arguing that because it was about perception, there was nothing scientific about it. Someoneâ&#x20AC;&#x2122;s perception may be different from another personâ&#x20AC;&#x2122;s, indicating that it should be ignored. There was even an article published on the website of the International Centre for Investigative Reporting, titled â&#x20AC;&#x153;Who influenced Nigeriaâ&#x20AC;&#x2122;s ranking in TI Corruption Perception Index 2017? This write up concluded that â&#x20AC;&#x153;this whole episode may turn out to be just a political distractionâ&#x20AC;Ś.â&#x20AC;?

One area to which we had paid a lot of attention is the ease of doing business. In fact, the Federal Government set up a Committee headed by the Vice President to work on reforms to improve our rating. Just like in CPI, Doing Business Report is a World Bank measurement of the ease with which businesses can be done in about 190 countries around the world. In its ranking for 2018, Nigeria placed 145 as against its 169th position a year earlier. We applauded and praised the report. Success, sure does have a lot of friends. I must also not fail to note that

some sub-Saharan African countries did a lot better on the ranking. Mauritius placed 25th, Rwanda occupied the 41st position, Kenya, 80th, Botswana 81st and South Africa, 82nd.

On Thursday, March 12, Bill Gates delivered what some people had variously described as a bombshell or hard knock to an expanded National Economic Council in Abuja. Those who had expected Bill Gates to adhere to the tradition of â&#x20AC;&#x2DC;speak no ill of your hostâ&#x20AC;&#x2122; were in for a rude shock. Reports were agog with rebuttals and arguments against the position taken by Mr. Gates. Some people argued that the man didnâ&#x20AC;&#x2122;t know what he was saying. Others insisted that he did not have the right to get involved in the internal affairs of Nigeria. They conveniently forgot that his Foundation has invested about $1.6b in charity in the country.

Thank God, I read a comment from El Rufai, denying that he attacked Bill Gates, but just made a clarification. While I agree with him that there was nothing wrong with disagreeing with Bill Gates, it has to be when he is factually wrong. In this particular instance, he was right.

I say so, because there is hardly anything he said that some of us had not said in the past.

The only difference is probably who said them this time around. An argument, unfortunately takes a different colouration if it is made by a man with billions of dollars to his name than those of us living slightly above the poverty line.

Most of his argument revolved around the Human Development Index (HDI). HDI measures health, education, income, livelihood and security in a country relative to others.

It is contained in a UNDP report published annally. In its most recent report released last year, Nigeria ranked 152 out of 188 countries.

This was a drop from its 120th position the previous year.

Gates went further to speak about an allinclusive growth. In his own words, Nigeria will only thrive when every Nigerian is able to thrive. â&#x20AC;&#x153;If you do not invest in their health, education and opportunities-â&#x20AC;&#x153;the human capitalâ&#x20AC;?â&#x20AC;Śthen it is very important to recognise that there will be a sharp limit on how much the country can growâ&#x20AC;?

He politely told us that in spite of the data that we are parading as the largest economy in Africa, we are still a poor country. Yours truly had made this argument several times in calling our attention to the fragility of the economy and also insisting that what is important is not absolute numbers but per capita numbers. In breaking it down, I had said that the number of tubers of yam harvested is not as important as the number of mouths that will eat out of the yam. Hear him, â&#x20AC;&#x153;in upper middle income countries, the average life expectancy is 75 years.

In lower middle income countries, it is 68. In low income countries, it is 62. In Nigeria, it is lower still; just 53yearsâ&#x20AC;?. However, if one relied on GDP numbers, we could be mistaken for a lower middle income country. In addition, he told his listeners that over 30% of our children are hungry while Nigeria is one of the most dangerous places in the world to give birth, with the fourth worst maternal mortality rate in the world, ahead of only Sierra Leone, Central African Republic, and Chad.

He made one important point which may not have been apparent in his speech and that is the need for accurate and reliable data. He congratulated us for revising our hitherto inflated immunisation coverage numbers to more realistic, but lower ones. The truth is that even though we end up working with

available numbers, discerning people know that a lot of the numbers from official sources are not reliable. For instance, given the level of unemployment in this country today, the unemployment data of 15%, recently reviewed to 18.8% can only be misleading. Looking around us and making an intelligent guess about the number of unemployed people, it would be reasonable to conclude that it is more of three times those numbers we are bandying about.

Our population figures are still estimates as we have not been able to conduct a reliable and acceptable census.

Our Economic and Growth Plan was not left out of the bashing. His worry was that even though it identified â&#x20AC;&#x153;investing in our peopleâ&#x20AC;? as one of the key strategic objectives, â&#x20AC;&#x153;the execution priorities donâ&#x20AC;&#x2122;t fully reflect peopleâ&#x20AC;&#x2122;s needs, prioritising physical capital over human capitalâ&#x20AC;?.

He advised that investments in infrastructure and competitiveness should not take precedence over investment in people. He demonstrates this by saying â&#x20AC;&#x153;People without roads, ports and factories canâ&#x20AC;&#x2122;t flourish. And roads, ports, and factories without skilled workers to build and manage them canâ&#x20AC;&#x2122;t sustain an economyâ&#x20AC;?. It is interesting that these arguments are being made by one of the wealthiest men in the world. I had in the past made arguments along these lines.

Some commentators who claim to be market economy theorists have literally called for my head. Their grouse is that it sounds welfarist to call for an increased spend on healthcare delivery and education as they are sometimes seen as social spending. I hope these ultra-right wing argumentators, will learn one lesson or two from one of the most successful capitalists in the world.

Still on creating opportunities for human development, Bill Gates encourages government to drive opportunities for employment in agriculture and small and medium scale enterprises. Agriculture which contributes over 40% to GDP unfortunately is denied access to finance as only 4% of Nigerian farmers have access to loans to expand their business.

Interestingly, this figure of 4% was achieved under the Soludo/Sanusi era. Before then, it was below 2%. The case is not different with over 35million micro enterprises that operate in the country. He lamented the collapse of the health care delivery system particularly the primary system in the country.

To fund all the recommendations, he advocated for better tax collection system. He insists that our tax to GDP ratio of 6% is the lowest in the world. Bangladesh according to him, collects 10%, making it the second worst in the world. We could increase our collection by $18b, if we just match Bangladesh. The same arguments I had made in my two part column on taxation over a year ago were corroborated

by Bill Gates. Government must do all to raise revenue from taxes to deliver on Human Development indices.

My take is that Bill Gates had not told us anything new about our economy. The only thing is that someone new who has a deep pocket is saying them. As usual, some people have taken to the traditional and social media to vilify him. That is expected in a democratic setting. It, however, belongs in the mould of living in denial. We can delude ourselves the much we want. At the end of the day, if we do not address the issues raised, we will turn out with worse numbers as the comparison and rankings will not stop. No one will also stop and wait for us to catch up.

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