Friday 27TH APRIL 2018

W’Bank: Oil Prices to Average $65 Per Barrel in 2018 OPAC Refinery to commence operations in Q3 2018 as DPR grants requisite approvals Ejiofor Alike and Obinna Chima The World Bank yesterday projected that oil prices would average $65 a barrel in 2018, up from an average of $53 a barrel in 2017.

Meanwhile, OPAC

Refinery in Kwale, Delta State, will come on stream in the third quarter of 2018 as the Department of Petroleum Resources (DPR) has granted it requisite

approvals - Approval to Relocate Plant (ARP) and Approval to Construct (ATC) plant in line with the regulatory agencies’ effective regulatory process

and in alignment with federal government’s aspiration to stimulate economic growth.

The Department of Petroleum Resources (DPR) granted 18 refinery licenses

in 2004, which later grew to 25.

The prediction was hinged on strong demand from consumers and restraint by oil producers, while metals

I‘ll Win Re-election in 2019, Buhari Assures… Page 48

prices were expected to rise nine per cent this year, also due to a pickup in demand and supply constraints.

The multilateral institution gave the prediction in a statement yesterday.

Continued on page 9

Friday 27 April, 2018 Vol 23. No 8408. Price: N250

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Senate Joins House, Summons Buhari over Killings Another 7 killed in Benue, Ortom warns APC-led FG over handling of killings NEC okays take-off of ranching in five states Damilola Oyedele, Omololu Ogunmade in Abuja and George Okoh in Benue The Senate has summoned

President Muhammadu Buhari to appear before it to provide a comprehensive briefing on the efforts of his administration towards addressing the

increasing security challenges in Benue, Taraba and other states.

This came just a day after the House of Representatives

also summoned the president.

The Senate, however, said it would liaise with the House of Representatives to have a joint session with the President.

This is as the Inspector General of Police, Mr. Ibrahim Idris failed to honour the senate’s summons over the maltreatment of Senator Dino

Melaye, and to brief them on the renewed killings in Benue, Taraba and other parts of the Continued on page 9

Saraki: Executive Had Enough Time to Seek Approval for $496m Expenditure Senators call for Buhari’s impeachment, refer matters to judiciary committee NEC justifies payment to U. S. Govt Omololu Ogunmade and Damilola Oyedele in Abuja The President of the Senate, Dr. Bukola Saraki has revealed that there was ample time for President Muhammadu Buhari, to seek the approval of the National Assembly, for the withdrawal and payment of $496 million for the 12 Super Tucano aircraft procured from the United States Government.

This is as senators called for

the impeachment of Buhari, for his willful violation of sections 80 (1-4) of the 1999 Constitution.

However, reprieve came the way of the president as the National Economic Council (NEC) yesterday in Abuja backed the decision of President Muhammadu Buhari to withdraw $469million from the Excess Crude Account Continued on page 10

Senate Demands Inclusion of WELCOME TO BAUCHI… Emir of Bauchi Alh. Rilwanu Suleiman Adamu, President Muhammadu Buhari and Bauchi State Governor Mohammed Subsidy in 2018 Budget… Page 12 L-R: Abubakar during the President's two-day visit to the state… yesterday

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PAGE NINE W ’ B ANK: OIL P RICES TO AVER AGE $6 5 PER B AR R E L I N 20 1 8 Oil prices closed at $74.5 a barrel yesterday.

According to the Bank’s April Commodity Markets Outlook, prices for energy commodities – which include oil, natural gas, and coal -- were forecast to jump 20 per cent in 2018, a 16 per cent point upward revision from October’s outlook.

The metals index was expected to rise as a nine per cent drop in iron ore prices was offset by increases in all base metals prices, led by nickel, which is forecast to rise 30 per cent.

Agricultural commodities, including food commodities and raw materials, were anticipated to see a price rise of over two per cent this year on diminished planting prospects. Weather disruptions are expected to be minimal.

“Accelerating global growth and rising demand are important factors behind broad-based price increases for most commodities and the forecast of higher commodities prices ahead,” World Bank Senior Director for Development Economics and acting Chief Economist, Shantayanan said.

Devarajan added: “At the same time, policy actions

currently under discussion add uncertainty to the outlook.”

In addition, oil prices were expected to average $65 a barrel over 2019 as well.

According to the Bank, although prices were projected to decline from April 2018 levels, they should be supported by continued production restraint by OPEC and non-OPEC producers and strong demand.

“Upside risks to the forecast include constraints to U.S. shale oil output, geopolitical risks in several producing countries, and concerns the United States may not waive sanctions against Iran.

“Downside risks include weaker compliance with the oil producers’ agreement to restrain output or outright termination of the accord, rising output from Libya and Nigeria, and a quicker-than-expected rise in shale oil output,” it added.

“Oil prices have more than doubled since bottoming in early 2016, as the large overhang of inventories has been reduced significantly,” the Senior Economist and lead author of the Commodity Markets Outlook, John Baffes said.

Baffes added: “Strong oil demand and greater compliance

by the OPEC and non-OPEC producers with their agreed output pledges helped tip the market into deficit.”

However, upside risks to the metals price forecast included more robust global demand than expected.

Supply could be held back by slow incorporation of new capacity, trade sanctions against metals exporters, and policy actions in China, it stated, noting that downside risks included slower-than-expected growth in major emerging markets, the restart of idle capacity, and an easing of pollution-related policies in China.

Precious metals were also expected to climb three per cent this year in anticipation of U.S. interest rate increases and higher inflation expectations.

Grains and oils and meal prices were expected to rise in 2018, mostly due to lower planting intentions.

“Oil exporters with flexible currency regimes, relatively large fiscal buffers, and more diversified economies have fared better than others since the oil price collapse.

“However, most oil exporters still face significant fiscal

challenges in the face of revenue prospects that have weakened since 2014,” the Director of World Bank’s Development Economics Prospects Group, Ayhan Kose said.

OPAC Refinery to Commence Operations in Q3 2018 OPAC Refinery in Kwale, Delta State, will come on stream in the third quarter of 2018 as the Department of Petroleum Resources (DPR) has granted it requisite approvals - Approval to Relocate Plant (ARP) and Approval to Construct (ATC) plant in line with the regulatory agencies’ effective regulatory process and in alignment with federal government’s aspiration to stimulate economic growth.

The Department of Petroleum Resources (DPR) granted 18 refinery licenses in 2004, which later grew to 25.

Investigation revealed that three refineries are billed to construct conventional stick-build plants and the remaining 22 as modular units.

Of all the licensed companies, the Dangote Oil Refinery Company (DORC) Limited,

a 500,000 barrels per stream day (BPSD) refinery, has reached the stage of detailed engineering design of the units and procurement of long-lead items.

According to a statement by the DPR, when completed, OPAC refinery will process 7,000 bpsd of crude oil, equivalent to 350,000 tonnes of crude oil yearly from the nearby Pillar Oil facility in Kwale, Delta State.

Pillar Oil operates the Umuseti/Igbuku field complex, which has two proven oil and gas fields - Umuseti and Igbuku, and four identified satellite prospects - Umuseti-North East, Umuseti-East, Igbuku-West and Igbuku-North.

The main products from the OPAC refinery shall include: naphtha, kerosene, diesel and fuel oil fractions.

“The refinery facility includes storage depot for the crude oil and finished products and loading terminal, while the modular straight run refinery consists of the following modules: Oil Refining Unit CRU-350; heating furnaces; pumping stations; water cooling system; separation and preparation tanks; storage depot;

control room with electrical panel; utilities supply and office facilities including laboratory; truck loading station,” the statement said.

From a total of 105 applications treated in 2002, 21 companies were granted license to establish (LTE) petroleum refineries.

The LTE had a validity of 18 months.

In line with the refinery guidelines, evaluation of the extent of engineering design work done in 2004, 17 companies of those previously granted LTE were granted approval to construct (ATC) refineries, with a validity of 24 months.

Following the unsuccessful execution of their projects and expiry of the ATC granted, with no appreciable progress achieved, all the licenses were cancelled in 2007.

The statutory framework for licensing of private refineries was reviewed and a new guiding document “Guidelines for the Establishment of Hydrocarbon Processing Plants in Nigeria” was approved by the then President, who was doubling as the Minister of Petroleum Resources.

S E NATE JOINS HOUSE, SU MMON S BU H AR I OVE R KI L L I N GS country.

Idris, who was in Bauchi for the President’s two-day state visit, sent the Deputy Inspector General (DIG) Operations, Mr. Habila Josack.

Josack was however turned back by the senators who insisted that Idris must appear next Wednesday.

Meanwhile, suspected herdsmen yesterday killed seven Internally Displaced Persons (IDP) in Ukemberagya, GaambeTiev, Logo local government areas of Benue State.

The latest incident comes on the heels of the killing of two priests and 17 worshippers during a burial ceremony in Mbalom, Gwer local government as well as the murder of more than 42 persons in Guma.

Reacting to allegations of complicity in the wave of killings in his state, the Benue State Governor, Samuel Ortom, has called on the All Progressives Congress, APC-led federal Government to change the way of doing things in the country by ensuring that the killings in all parts of the nation are stopped.

And in Abuja, the National Economic Council (NEC) yesterday in Abuja gave five states of the federation the nod to commence cattle ranches.

The states are Benue, Nasarawa, Taraba, Adamawa and Zamfara.

The President of the Senate, Dr. Bukola Saraki said the briefing by the President would afford the lawmakers the opportunity to know what was really going on as regards security.

After the briefing, the Senate would then consider and take a position on the call for a state of emergency in Benue, and on the status of the service chiefs, Saraki said.

"Going through these prayers (of the motion) that I see here, they really do not mean anything or touch the direction.

We were here when Senator Gemade (Barnabas) came up with a motion on Benue killings sometime ago. Now, it is Senator Akume (George).

Then we were talking about herdsmen and farmers, now we are talking about herdsmen and religious leaders,” he said.

Saraki warned that the latest dimensions to the killings, portend serious crises for Nigeria if drastic actions are

not taken.

“These killings on a daily basis have to stop.What do we do? We cannot continue to say we are leaders. This is a failure, no doubts about it. We have made ourselves available and we have done a summit.

What do we do differently?

It is amazing that not even a constable or an officer has been held and sanctioned for this kind of thing. It cannot continue like this.” Saraki said.

The resolution of the Senate followed a motion by Senator George Akume (Benue APC) on the continued killings in the state, which he said have continued unabated since January 2018.

Akume said despite the military presence in the state, there is no end to the wanton killings and expressed worry that the latest attacks on worship centres have grave implications for the security and unity of Nigeria.

“The monumental refugee situation now estimated at over 200,000 which is being faced by the entire state, particularly Benue North West Senatorial District, where all the 7 local governments of the districts are affected by these invasions and killings,” he said.

Senator Sulaiman Adoke (Nassarawa APC) lamented that the axis of Benue, Taraba, Nassarawa and Kogi, are now under attack.

“Army was sent to the axis but to the dismay of everybody, the killings have continued. Some of the killings are happening 20 or 30 minutes away from army bases,” he said.

Despite the failure of security agencies to stop the killings, the army and police were able to deploy dozens of troops to arrest IDPs who ‘pulled’ the governor when he visited, Adoke said.

“But the real criminals are out there,” he added.

Senator Mao Ohanbunwa (Abia PDP) queried the hesitation to declare the killer herdsmen terrorists, particularly after the President said they were foreigners.

“We are in a state of war, let the military go in and fight a war. We are close to elections and if we do not deal with this, only God knows what will happen,” Ohanbunwa said.

Senator Hamman Isa Misau (Bauchi APC) said the problem of the police is not

that of manpower or resources when it is considered that they deployed over 200 policemen to arrest Melaye, with enough operational vehicles.

“But when it comes to real challenges, you would not find them,” Misau said.

He added that the President is being ill-advised not to fire the heads of the security agencies because they are loyal and therefore should not be changed.

“In Offa, young boys, not hardened criminals, went to the police station and killed policemen, then went to five banks and operated for three hours without resistance,” he said.

Misau also cited the invasion of the Senate chamber by some persons whose faces were splashed all over the media, but who are yet to be arrested by the police.

Senator Victor Umeh (Anambra APGA) urged Buhari to go beyond condemning the attacks and sending condolence messages to victims, and ensure that the perpetrators are arrested and made to face the wrath of the law.

“Afterall he has always promised to get to the root of it, let him do so. Let him declare a state of emergency in Benue which has been at the receiving end of the attacks.

IG’s No Show in Senate The senators also expressed displeasure at the failure of the IG to honour their summons.

The Minority Leader, Senator Godswill Akpabio, said there are several issues which the IG needs to brief the lawmakers on.

“I am sure he will be glad to come and brief us at a joint session, so we can go back and brief our constituents. People are afraid to go out, to go to church and other places. There are issues he needs to address us on, outside our colleagues.

There are the killings, and I think he will like to tell us what he is doing,”Akpabio said.

Senator Sam Egwu (Ebonyi PDP) said several appointees of the President continue to create an avoidable dispute, with other arms of government.

He noted that Idris had justification for this absence since he was in Bauchi with the President, he could have made effort to formally write the Senate informing them on

why he could not appear on Thursday.

Saraki in his ruling said the President may have excused the IG if he (Buhari), was aware that the police boss had been summoned by the Senate to brief on the state of security, adding that sending the DIG is therefore not respectful enough, Saraki said.

“The dignity and integrity of our democratic authority must be protected. We must not allow anyone to denigrate it. I tell you, neither myself nor the Chairman of the Committee on Police Affairs has been able to reach the IG in 72 hours,” he disclosed.

Seven IDPs Killed in Benue Meanwhile suspected herdsmen yesterday killed seven Internally Displaced Persons (IDP) in Ukemberagya, GaambeTiev, Logo local government areas of Benue State.

The latest incident comes on the heels of the killing of two priests and 17 worshippers during a burial ceremony in Mbalom, Gwer local government as well as the murder of more than 42 persons in Guma.

The Logo killings according to a resident, Mr. Joseph Anawah happened around 12:22 am while the people were asleep.

He said the people are camped in African Church and LGEA primary School, Mondo after being displaced from their homes by suspected herdsmen.

"At about 12:22 am, sporadic gunshots were heard in the area that woke the people up as they scampered for safety. In the process, seven (7) of them were killed on the spot and several others are said to be missing. The marauders did not stop there, they went ahead to mount roadblock along WukariAnyiin road and seized more than four(4) motorcycles. As I speak with you, the area is completely deserted", he said.

Confirming the incident, Chairman of the local government area, Mr. Richard Nyajo said seven persons were killed.

Attempt made to get confirmation from the Police failed as the Commissioner of Police Fatai Owoseni and the Public Relations Officer ASP Moses Yamu could not be reached.

Ortom Warns APC-led FG In a related development, the Benue State Governor, Samuel Ortom, has called on the All Progressives Congress, APC-led federal Government to change the way of doing things in the country by ensuring that the killings in all parts of the nation are stopped.

Reacting to accusations that he disarmed Benue citizens through an amnesty programme so as to make them vulnerable to the ongoing attacks, Governor Ortom said the programme targeted criminals who do not have the interest of the community at heart but were using weapons they possessed illegally to carry out criminal activities.

He said if he had not received and destroyed the weapons they surrendered, criminality in the state would have exceeded the present level.

He vowed that no amount of killings would make the state review the Open Grazing Prohibition and Ranches Establishment Law because it was the product of the entire people and that ranching was the only solution to the incessant farmers and herders crisis.

NEC Approves Ranching The National Economic Council (NEC) yesterday in Abuja gave five states of the federation the nod to commence cattle ranches. The states are Benue, Nasarawa, Taraba, Adamawa and Zamfara.

Briefing journalists at the end of yesterday's National Economic Council (NEC) meeting in the State House, the governor of Ebonyi State, Engr. David Umahi, said the decision endorsing the commencement of ranching in the states followed the adoption of the recommendations by the committee earlier constituted by the council to come up with recommendations proffering solutions to protracted herdsmen-farmers' violence in the affected states.

Umahi who said a subcommittee further set up by the initial nine-man committee constituted by the council identified three categories of herdsmen operating in Nigeria.

He listed such categories of

herdsmen to include foreign herdsmen whom he said entered the country on account of existing treaty in West Africa which he said gave the right to free movement within the sub-region to herdsmen from neighbouring countries.

Umahi said notwithstanding the existence of such treaty, there ought to be proper documentation of the personal details of such herdsmen, adding that their cows also ought to be quarantined while entering the country.

He listed the other two categories of herdsmen operating in the country as nomadic herdsmen whom he said often migrate from the North to the Middle Belt and later Southern part of the country and causing mayhem.

He described the last category of herdsmen as migrant herdsmen whom he said often migrate to villages, settle among villagers and also causing conflicts.

He said the option of ranching had become imperative because the movement of cattle from one place to the other also affects their productivity, adding that such states will donate land for the ranches which he said would consist of schools and medical facilities. He added that movement of cattle from one place to the other for grazing need to stop.

"Today, NEC took briefing from the same NEC technical committee on the farmers and herdsmen conflicts in various Continued on page 10

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Former Federal Commissioner, Adedeji Dies at 87 A former Federal Commissioner for Ministry of Economic Development and Reconstruction, as well as ex-Under-SecretaryGeneral of the United Nations and Executive Secretary of the United Nations Economic Commission for Africa, Professor Adebayo Adedeji, has died.

A statement from his family yesterday said he died at the age of 87 on Wednesday, April 25, 2018, after a brief illness.

According to the statement, the late Asiwaju of Ijebu and Olotu’fore of Ijebu-Ode, Ogun State, had a singularly distinguished academic, managerial, national and international, diplomatic and political career in service

to Nigeria, Africa and the international community.

“At the age of 36 years, he became a full-fledged professor at the University of Ife, now Obafemi Awolowo University (OAU), Nigeria. In 1971, he was drafted into the General Yakubu Gowon’s government as the cabinet minister responsible for the economic development and reconstruction of post-civil war Nigeria. He was the founder and pioneer chairman of the Nigerian National Youth Service Corps (NYSC) and the father of ECOWAS which he established in May 1975 – after more than three years arduous negotiations with governments and countries divided into Anglophone,

Adedeji Francophone and Lusophone spheres of influence,” the statement explained.

He was appointed United Nations Assistant-SecretaryGeneral and Executive Secretary of the Economic Commission for Africa (ECA), Addis Ababa in June 1975 and was promoted to the rank of United Nations Under-Secretary-General in January 1978 – a position he held with tremendous success until July 1991 when he resigned to return to Nigeria after 16 years of international service.

Prior to this, at the height of the African Great Drought Disaster and Economic Crisis of 1984 to 1986, Professor Adedeji also served as the United Nations Secretary-General’s Special Representative on Africa’s Economic Crisis in addition

to his onerous duties as ECA’s Chief Executive.

Immediately after his resignation from the United Nations in 1991, Professor Adedeji established the African Centre for Development and Strategic Studies (ACDESS), a non-government, independent, continental, non-profit-making think-tank dedicated to multidisciplinary and strategic studies on and for Africa.

In his writings, Professor Adedeji had stressed the need for Africa’s socio-economic transformation and for genuine democratisation based on an indigenously-crafted humancentred holistic development paradigm.

After his departure from the United Nations in 1991, Professor Adedeji also served extensively as a consultant to United Nations organisations, African governments, non-governmental organisations and universities.

In 2010, after turning 80, Professor Adedeji retired from public life and spent the last years of his life quietly in his hometown of Ijebu-Ode, Ogun State.

In recognition of his contributions to nation building, Prof Adedeji was awarded the national honour Commander of the Order of the Federal Republic (CFR) by the federal government.

He is survived by children and grandchildren.

invasion by foreign herdsmen and l am happy that the federal government is doing something about it.

"Today, there was a meeting of ECOWAS countries on the subject and we also agreed that these movements have to stop and occasionally, by those who have settled and integrated from other parts of the country like the Middle Belt. They sometimes go into conflicts with farmers.

"So, in all, we agreed that there is a more profitable and modern way of raising these cows which is by ranching.

So, we have agreed that the states involved are going to give lands. Niger and Kaduna have given lands and Plateau is also giving land. Ranching is being practised in Mambila in Taraba states and they have success stories with regards to that.

"We also agreed that through

the Agriculture Ministry, we have the need to introduce new species of cows. The minister told us that there are new species that produce as much as 60 litres of milk per day per cow and that the cows weigh as much as 900 kilogramme but our own weigh less than 200 kilogrammes. So, we have agreed that we are going to work on these new species, while also working with our ranching. We also agreed that livestock production in Nigeria has not been taken care of.

"As we are taking care of the farmers by way of the Anchor borrowers scheme, of course, the farmers cry of the high-interest rate on the Anchor borrowers scheme.

The rate of interests should be between 2 to 5 per cent. So, we should extend those gestures to the herdsmen. And it was discovered that most of these cows are not being herded by

their owners. Big men buy these cattle and give them out to the herders. So, the children of the herders have nothing to inherit. They, therefore, go into cattle rustling and other forms of criminalities.

"Through this policy and intervention in the livestock production, it will be possible for the herdsmen to own their own livestock and have something for the future. We also agreed that there is a need for good lives for the herdsmen. Through these policies, their children will be able to go to schools. There will be nomadic education and medical facilities through these ranches for the herdsmen and their animals. Grasses will be planted, irrigation and dams will be created for a source of water. Lastly, we ask the public to begin to see livestock as another means of investment," Umahi submitted.

certain responsibilities for the president, it does same for the National Assembly.

He cited sections 83 (1-2) of the constitution and urged that the matter is referred to the Committee on Judiciary, to properly advise the Senate.

of incumbent President Donald Trump whom he said willingly offered to sell the aircraft to Nigeria.

Badaru who also said further efforts made by the country to purchase the same set of aircraft from Brazil and Dubai also met brick walls, pointing out that the deadline given to Nigeria for the purchase of the aircraft by the United States did not leave the president with enough time to secure appropriation by the National Assembly.

He argued that in view of the huge concerns posed by insecurity in the country, the president had to choose between grabbing the military equipment to enhance the security of Nigerians and appropriation at the time, insisting that he found himself in an emergency situation and the president was left with no option than to go for the purchase of the aircraft and seek appropriation later.

"We forget easily. If you recall, we have been battling with the approval from the Americans to buy these equipment since 2014. We have been begging America to sell these equipment to us. We tried Dubai. They did not allow us. We tried a factory in Brazil. The federal government tried. We couldn't get it. The Americans still could not sell to Nigeria.

"Then, luckily, President Trump said it was okay to buy. So, we had to quickly buy them before they changed their minds because there is also a deadline and this is a state to state transaction, no middleman, and we are all here, concerned about security and they are raising questions on the way and manner you protect people. This is an emergency situation," Badaru argued.

S E NATE JOINS HOUSE, SU MMON S BU H AR I OVER K I L L I N GS states of the federation. NEC sometimes this year came up with a committee, being disturbed by the constant conflicts between herdsmen and farmers. The council came up with the committee of nine governors with the vice-president as the chairman, and the committee went into deliberations.

"After a couple of meetings, they decided that most five affected states should be visited. So, they came up with a sub-technical committee of three governors with myself, the governor of Ebonyi State as chairman and governors of Plateau and Adamawa as members.

"We were constituted to visit the five core states. Later, other states like Plateau and Kaduna states were also added. But we were able to visit only five states: Benue, Nasarawa, Taraba, Jigawa and Zamfara States.

"The core causes of the conflicts that we were made to understand were perception and of course, our media friends, competition for scarces resources and banditry or what you can call pure criminal activities through cattle rustling, kidnapping etc.

"Today, we look at three categories of herdsmen in Nigeria. We look at the foreign herdsmen that come in due to the treaty and we continue to say that the treaty is not being properly implemented. For any herdsman to come into Nigeria from outside, there should be a kind of certification.

"There must be a letter, even though you are not coming in with a visa. You have to travel with ECOWAS documentation.

Animals that are coming into the country are required to be quarantined, but this is not being done. So, this is one category of them.

"Secondly, we have the nomadic herdsmen, who during the dry season, travel from up North to the Middle Belt down to the South. These cause conflicts. Also, foreign herdsmen coming all the way from neighbouring countries and travelling through farmlands also cause conflicts.

"Then, of course, we have the migrant herdsmen who migrate for a very long time and settle with villagers and even inter-marry with them.

These are the three categories we have in Nigeria.

"In all, we agree that movement is not profitable to the herdsmen because they value the milk from the cow even more than the cow itself. So, the movement is not healthy for the cows as it dries up the meat and gives less than two litres of milk per cow per day. So, we condemn the issues of foreign

SARAKI: EXECUTIVE HAD ENOUGH TIME TO SEEK APPROVAL FOR $496M EXPENDITURE (ECA) without the approval of the National Assembly for the purchase of 12 Tucano aircraft from the United States to fight insecurity Saraki, in his remarks on the perceived breach by the executive arm of government, said there was already prior knowledge that Nigeria’s request to purchase the jets would be granted, as early as September 2017.

“It was August last year, we were on recess when I got the message from the US Ambassador that the Senate Committee at the Congress of the United States, wanted to visit us, because they got a request from President Trump to approve the payment of Tucanos, but they need approval. Their congress wanted to come to Nigeria to speak with their counterparts, and we all had to come back from our vacation, and I led the team with the House of Representatives members, and members here, and we met the members of Congress on this issue,” “So definitely, we were aware at that time of this issue.

Between September (2017) and February (2018), with all due respect, there was ample time for the executive to have carried us along on this issue.” Saraki said.

Nevertheless, Saraki said it is important to examine the circumstances which may have informed the breach of the constitution by the President.

He referred the matter to Committee on Judiciary to consider, and provide legal advise, for the next line of action.

Saraki made the remarks as plenary heated up when lawmakers debated whether the President had violated the constitution, or whether his action could be excused

in the face of mounting security challenges.

The lawmakers were seemingly divided along party lines.

“So the arguments for and against; I think these arguments are valid and I don’t want us to bring it down to partisanship issues. These are not partisan issues. There is the suggestion by the leader (Senator Bala Ibn N’Allah), that we should send it to the judiciary (committee) to advise if the constitution has been breached, the circumstances surrounding the breach of the constitution, and the justification.

“What do we do going forward, in trying to even appropriate because the funds have already been spent? Do we go under what the leader has come under (section 83, on contingency spending) or we start the whole process of appropriating?” Saraki asked.

The Senate President, however, pointed out that, from the President’s letter, it can be inferred that there are security concerns in Nigeria and that there is a breach of the constitution.

“The question is, what are the circumstances surrounding the breach of the constitution, whether those circumstances justify the breach of the constitution,” Saraki added.

“I don’t think this exercise is worth it itself, because we endorsed it to the US Congress. It was after we agreed in September, that the US government now went back to give approval to the executive, to pay to their own government so they can go ahead and sell this equipment to Nigeria,” he said.

He directed the committee to submit its report in one week.

Call for Impeachment Earlier Senator Matthew

Uroghide (Edo PDP) urged the Senate to invoke the provisions of Section 143 (on the procedure to impeach a President), on grounds that while the objective for the expenditure was well established, the procedure was wrong.

“This constitution has been violated, and the role of the National Assembly has been taken away,” he said.

Uroghide added that the Defence Minister (when he appeared before the Committee on Appropriation on Wednesday) admitted that the expenditure was wrong and that the executive had ample time to seek approval for the expenditure of the money.

Senator Chukwuka Utazi (Enugu PDP) also argued that since the 2018 appropriation bill is yet to be concluded, the expenditure by the President, cannot be categorised into a supplementary bill.

He also noted that the expenditure is not the first time the Buhari-led government, has committed constitutional breaches, noting that the appointments of the service chiefs and the Chairman of the Federal Inland Revenue Service (FIRS), were done without recourse to the National Assembly.

“If we have a Chief Executive, who does not want to follow the constitution, we follow the constitution to handle him, and there is no other name to call it, this is an impeachable offence.

If you are a man, stand up and be counted,” Utazi said.

Similarly, Senator Samuel Anyanwu (Imo APC) called for consequences for Buhari’s action.He recalled that late Senate President Chuba Okadigbo was removed from office, for giving anticipatory

expenditure.

“When you say the truth, you become a target, but we do not fear to say the truth. An infraction has been committed, we have nothing to do, than to follow the constitution,” he said.

Senator Shehu Sani (Kaduna APC) said if the current infraction is allowed to stand, the National Assembly would have set a bad precedent.

“You cannot appropriate what has been spent. We take the risk of endorsing what happened, it would be gazetted and be part of the history of this Senate,” Sani said.

He, however, argued that the monies spent for security is worth it, and therefore does not call for the impeachment of the President.

“We should insist the money should be refunded, we should be calling for a refund of that money, and then due process be followed,” he said.

Senator Abu Ibrahim (Katsina APC) said the President has done a ‘fundamental thing’ by seeking anticipatory approval for the expenditure in the first instance.

He said previous presidents of the Peoples Democratic Party (PDP), have drawn from the Excess Crude Account, without recourse to the National Assembly.

“What do you want the President to do? Wait until we approve it? Part of it belongs to the States and the Governors approved it.

So he should not even bring it here. He should only bring 53 percent,” Ibrahim argued.

The Deputy Leader, Senator Bala Ibn Na’Allah, in his contribution, said while the constitution notes

NEC Backs Buhari on Approval The National Economic Council (NEC) yesterday in Abuja backed the decision of President Muhammadu Buhari to withdraw $469million from the Excess Crude Account (ECA) without the approval of the National Assembly for the purchase of 12 Tucano aircraft from the United States to fight insecurity.

At the end of yesterday's monthly NEC meeting in the State House, presided over by Vice-President Yemi Osinbajo, the council's report on the balance in ECA as of April 23, 2018, showed that the fund in the account had dropped from the initial balance of $2.31billion last month to $1.829billion.

Answering questions from journalists on the position of NEC on the withdrawal of $469million from ECA which has pitted the president against the National Assembly, the governor of Jigawa State, Abubakar Badaru, said the withdrawal was a right step in the right direction in view of the pressing security issues in the country as well as the inability of the country to purchase the aircraft from different countries since 2014.

According to Badaru, Nigeria had made a series of entreaties to the United States to sell the aircraft to the country all to no avail until luck smiled on it recently following the advent

T H I S D AY ˾ FRIDAY APRIL 27, 2018

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FRIDAY, APRIL 27, 2018Ëž T H I S D AY

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NEWS

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

Senate Demands Inclusion of Subsidy in 2018 Budget Blasts NNPC over Illegal N216.9bn ‘operational costs’ Orders AuGF to audit corporation Damilola Oyedele Ă“Ă˜ ĂŒĂ&#x;ÔË The Senate yesterday directed its Committees on Appropriation and Public Accounts to liaise with the executive arm of government to ensure that appropriation for fuel subsidy is introduced in the 2018 budget. It said this following the discovery that the Nigeria National Petroleum Corporation (NNPC) paid the sum of N216.9 billion to cover the N26 per litre differentials between the N171 landing cost of petrol and the sale at N145 per litre.

The money which the NNPC said is ‘operational costs’, covered the period between January and December 2017 and was unearthed by the senates Public Accounts Committee in its investigations into subsidy payments by the NNPC without appropriation. The committee found that within the period, the NNPC imported 9.8 billion litres of petrol, for $5.5billion (N1.68 trillion).

The Senate also mandated the Auditor General of the Federation (AuGF) to carry out a comprehensive audit of the accounts of the NNPC for the last five years. The Senate President, Dr. Bukola Saraki, said the NNPC has become the sole importer of petrol because of lack of provision for subsidy, which he noted could have encouraged private sector participation. “The reason why the NNPC is the sole importer is because there is no budget for subsidy, so it just dips its

hands into crude oil sales.

This is illegal payment. It is better we rectify this and stop deceiving Nigerians. If we include subsidy, even private companies would participate in importing petrol, which may even make the price to go down,� Saraki said. “NNPC is using the absurd word that is operational costs, and this is an insult to Nigerians. IMF (International Monetary Fund) and others see this kind of reports, and laugh at us,� Saraki said.

The Chairman of PAC, Senator Matthew Uroghide, presenting the findings of the investigation, said it was curious that the NNPC did not seek appropriation for the N216.9 billion. “The Director of Finance said they do not want to talk about it, after we asked why they are not asking for it to be appropriated. It is not their exclusive right to decide to pay the money,�Uroghide said. He added that the NNPC became the sole importer, because other marketers could no longer import the product as a result of the high cost of importation (landing cost and the recharges) which is higher than the approved sale price. “There is need for the federal government to pay oil marketers the outstanding arrears of subsidy owed them prior to 2017,� the chairman said. Senator Chukwuka Utazi (Enugu PDP) said the issue of NNPC and the extrabudgetary spending is not something, which the Senate should take lightly.

NPC: How We Arrived at Nigeria’s Latest Population Figure The National Population Commission (NPC) has said Nigeria’s estimated 198 million population figure recently announced by the commission is based on an annual population growth of 3.2 per cent, spanning from 2006 till date.

The NPC Chairman, Eze Duruiheoma, made the disclosure in an interview with News Agency of Nigeria (NAN) yesterday in Abuja.

The NPC had on April 11, put Nigeria’s current population at 198 million people, with urban population growing at an average annual growth of about 6.5 per cent.

Duruiheoma announced the figure in New York while delivering Nigeria’s statement on Sustainable Cities, Human Mobility and International Migration at the 51st Session of Commission on Population and Development.

The NPC boss said the current estimated figure of 198 million was not just concocted but from

annual growth of 3.2 per cent, judging from the last census of 2006.

He added: “There are deaths, and births and nobody imagined that there will be more deaths than births. “Irrespective of what anyone thinks about deaths, there is always more births than deaths and that is why the 3.2 annual growth rate is used in arriving at the current population figure. “The most important thing now is to conduct another census to ascertain the country’s actual population. “We want to do away with the projected figure because there is more to census than funds and we are waiting for a presidential proclamation that will empower NPC to conduct the head count.’’ Duruiheoma said having accurate data about a country’s population was essential in planning as it would be used for social, economic, political and other needs.

They are using semantics to hide illegality. “If we condemn Mr.

President’s buying of Tucano aircrafts to be supplied in 2020 without appropriation, this

one is more condemnable,�

Utazi said. The Senate thereafter

directed the corporation to stop the illegal payments immediately.

STRATEGIC RECEPTION

L-R: Deputy Managing Director, Keystone Bank Limited, Abubakar Sule; , Divisional Head, Marketing & Corporate Communications, Omobolanle Osotule; GMD/CEO, Obeahon Ohiwerei; Soccer legend, Kanu Nwankwo; and Dapo Ajibade, during a strategic business visit to the bank’s Head Office in Lagos...yesterday

Finally, FAAC Shares N626.82bn to FG, States, LGs 35 states get N1.3tn from budget loan support facilities Ndubuisi Francis Ă‹Ă˜ĂŽ Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË

the end of the month, while reconciliation is still ongoing.

Idris, who briefed journalists The Federation Account shortly after the meeting, put Allocation Committee (FAAC) the gross statutory revenue for yesterday distributed a total of the month of March at N480.59 N626.82 billion to the three tiers billion, adding that it was a of government for the month decrease of N77.34 billion over of March after the controversy the N557.94 billion generated which stalled the meeting last in February.

Wednesday.

He explained that crude This came as the he National oil exports sales decreased by Executive Council (NEC) 13 per cent when compared yesterday in Abuja disclosed with the 5.42 million barrels that 35 of the 36 states of the from the previous month. He federation had secured N1.3 said the 13 per cent decrease trillion from budget support in crude oil exports volume led loan facility provided by the to a reduction in revenue from federal government, federation crude oil exports sales The state Commissioners by $33.58 million. for Finance had rejected the He said while the average under-remittance by the Nigeria crude oil price increased from National Petroleum Corporation $63.08 to $65.72 per barrel, (NNPC) by about N12 billion the production shutdown at into the Federation Account, various terminals for repairs prompting the adjournment and maintenance affected oil of the meeting. revenue. However, he said there However, at the reconvened was a considerable rise in oil meeting at the headquarters of royalty for the month while the Ministry of Finance, Abuja, companies income tax and the committee agreed to share import duty recorded marginal N626.82 billion allocation for increases. On the breakdown the month of March. of the N626.82 billion allocated The Accountant-General of the by the committee, he said after Federation, Alhaji Ahmed Idris, deducting costs of collection to explained that this was to allow revenue generating agencies, the the three tiers of government federal government received pay workers’ salaries before N263.1 billion. He said the sum

of N167.61bn was distributed among the state governments areas while the 774 local government are to share N126.29 billion.

In addition, the sum of N54.5 billion was shared to the oil producing states based on 13 per cent derivation principle.

He put the balance in the Excess Crude Account (ECA) at $1.83 billion as against the $2.3 billion in the previous month.

President Muhammadu Buhari had approved the withdrawal of $496 million from the ECA for the payment of Tucano aircraft to be supplied by the United States to boost the fight against insecurity.

Responding to a question on when the NNPC would remit the shortfall to the federation account, the AGF said:, “The reconciliation is ongoing. There is no public finance system that will be devoid of reconciliation at any time. “So reconciliation is part of the order and in that particular instance, reconciliation that has started last month, continued this month and there is nothing new. “We couldn’t meet yesterday because we felt certain milestone has to be reached and on getting to those millstones, we sat today and have considered the figures

for distribution.� When asked how much is the amount to be remitted by NNPC, Idris said it would be determined when the reconciliation has been concluded.  “On the amount that we are expecting to come in from NNPC, we don’t talk on mere speculation or on hearsay. “We have to wait for the amount to come and we will know what will be distributed. We don’t base our projections on speculations, there has to be factual data,� he added.

Meanwhile, 35 of the 36 states of the federation have secured N1.3 trillion from budget support loan facility provided by the federal government, NEC disclosed in Abuja yesterday.

Briefing journalists at the end of yesterday’s monthly NEC meeting in the State House, the Deputy Governor of Lagos State, Mrs. Oluranti Adebule, said the Accountant General of the Federation (AGF) told NEC that in addition to the N1.3 trillion accessed by the states so far, they have also got another N1.1 billion.

Adebule also said the AGF briefed the council on the balances in federation accounts

Cont’d on Pg 49

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T H I S D AY ˾ FRIDAY APRIL 27, 2018

OKUN DEVELOPMENT ASSOCIATION (ODA) ϭϬ͕ '͘Z͘ ͕͘ Kī >ŽŬŽũĂͲ<ĂďďĂͲ>ĂŐŽƐ ZŽĂĚ͕ <ĂďĂ <ŽŐŝ ^ƚĂƚĞ

PRESS RELEASE

FROM OKUN DEVELOPMENT ASSOCIATION KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ ;K Ϳ͕ Ă ŶŽŶͲƌĞůŝŐŝŽƵƐ͕ ŶŽŶͲ ƉĂƌƟƐĂŶ ƐƐŽĐŝĂƟŽŶ͕ ŝƐ ƚŚĞ ƵŵďƌĞůůĂ ƐŽĐŝŽͲĐƵůƚƵƌĂů ĂŶĚ ĚĞǀĞůŽƉŵĞŶƚ ŽƌŐĂŶŝnjĂƟŽŶ ĨŽƌ Ăůů ƚŚĞ ƉĞŽƉůĞ ĂŶĚ ĂƐƐŽĐŝĂƟŽŶƐ ŽĨ KŬƵŶůĂŶĚ͕ ĂƵƚŚŽƌŝƐĞĚ ƚŽ ƐƉĞĂŬ ĂŶĚ ĂĐƚ ŽŶ ďĞŚĂůĨ ŽĨ ƚŚĞ KŬƵŶ zŽƌƵďĂ ŽĨ <ŽŐŝ ƐƚĂƚĞ͕ ŽŶ ŵĂƩĞƌƐ ĂīĞĐƟŶŐ ƚŚĞŝƌ ŐŽǀĞƌŶĂŶĐĞ͕ ĚĞǀĞůŽƉŵĞŶƚ ĂŶĚ ƐƵƐƚĂŝŶĂďůĞ ůŝǀĞůŝŚŽŽĚ͘ /ƚ ŝƐ ƌĞŐŝƐƚĞƌĞĚ ǁŝƚŚ ƚŚĞ ŽƌƉŽƌĂƚĞ īĂŝƌƐ ŽŵŵŝƐƐŝŽŶ ; Ϳ͘

ƉƌĞƐƵŵƉƟŽŶ ŽĨ ŝŶŶŽĐĞŶĐĞ ŽĨ Ă ƐƵƐƉĞĐƚ ƵŶƟů ŚĞ ŝƐ ĨŽƵŶĚ ŐƵŝůƚLJ͘

&ŽůůŽǁŝŶŐ ƚŚĞ ƌĂƉŝĚůLJ ĚĞƚĞƌŝŽƌĂƟŶŐ ƐŝƚƵĂƟŽŶ ŝŶǀŽůǀŝŶŐ ƚŚĞ ŝƐƟŶŐƵŝƐŚĞĚ ^ĞŶĂƚŽƌ ƌĞƉƌĞƐĞŶƟŶŐ <ŽŐŝ tĞƐƚ ^ĞŶĂƚŽƌŝĂů ŝƐƚƌŝĐƚ ĂŶĚ ƚŚĞ >Ăǁ ŶĨŽƌĐĞŵĞŶƚ ŐĞŶĐŝĞƐ͕ ƚŚĞ KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ ǁŝƐŚĞƐ ƚŽ ŵĂŬĞ ƚŚĞ ĨŽůůŽǁŝŶŐ ƐƚĂƚĞŵĞŶƚƐ͘

ϭϭ͘ dŚĂƚ ŵĞĂŶŝŶŐĨƵů ĚĞǀĞůŽƉŵĞŶƚ ŝŶŝƟĂƟǀĞƐ ƚŚĂƚ ĐĂŶ ŝŵƉƌŽǀĞ ƚŚĞ ƋƵĂůŝƚLJ ŽĨ ƚŚĞ ůŝǀŝŶŐ ƐƚĂŶĚĂƌĚ ŽĨ ƚŚĞ ƉĞŽƉůĞ ĐĂŶ ŽŶůLJ ƚĂŬĞ ƉůĂĐĞ ŝŶ ĂŶ ĂƚŵŽƐƉŚĞƌĞ ĚĞǀŽŝĚ ŽĨ ĐƌŝƐŝƐ ĂŶĚ ǀŝŽůĞŶĐĞ

ϭϬ͘ dŚĂƚ ĨƌŽŵ ƚŚĞ ĂĐĐŽƵŶƚ ŽĨ Ăůů ƚŚĂƚ ŚĂƐ ŚĂƉƉĞŶĞĚ ŝŶ ƚŚĞ ůĂƐƚ ϳϮ ŚŽƵƌƐ ďĞƚǁĞĞŶ ƚŚĞ >Ăǁ ŶĨŽƌĐĞŵĞŶƚ ŐĞŶĐŝĞƐ ĂŶĚ ^ĞŶĂƚŽƌ ŝŶŽ DĞůĂŝLJĞ͕ ŝƚ ŝƐ ŽďǀŝŽƵƐ ƚŚĂƚ ƚŚĞ >Ăǁ ŶĨŽƌĐĞŵĞŶƚ ŐĞŶĐŝĞƐ ŚĂǀĞ ŐŽŶĞ ďĞLJŽŶĚ ƚŚĞ ďŽƵŶĚƐ ŽĨ ƚŚĞ ĂďŽǀĞ ƵŶŝǀĞƌƐĂůůLJ ĂĐĐĞƉƚĞĚ ŵŝŶŝŵƵŵ ƐƚĂŶĚĂƌĚƐ͘

ϭϮ͘ dŚĂƚ ƚŚĞ ƉĞŽƉůĞ ŽĨ <ŽŐŝ ^ƚĂƚĞ ǁŝůů ďĞŶĞĮƚ ŵŽƌĞ ĨƌŽŵ tĞ ŵĂŬĞ ƚŚĞƐĞ ƐƚĂƚĞŵĞŶƚƐ ĨŽůůŽǁŝŶŐ ŽƵƌ ĐŽŶĐůƵƐŝŽŶ ƚŚĂƚ ƉĞĂĐĞĨƵů ƐĞƩůĞŵĞŶƚ ŽĨ ƉŽůŝƟĐĂů ĚŝīĞƌĞŶĐĞƐ ƚŚĂŶ ƚŚƌŽƵŐŚ ĂŶLJ ĞǀĞŶƚƐ ĂƌĞ ŶŽǁ ƵŶĨŽůĚŝŶŐ ĨĂƐƚĞƌ ƚŚĂŶ ƚŚĞ ƌĞƐƵůƚƐ ǁĞ ĂƌĞ ŐĞƫŶŐ ŽƚŚĞƌ ŵĞĂŶƐ͘ ĨƌŽŵ ŽƵƌ ďĞŚŝŶĚͲƚŚĞͲƐĐĞŶĞ ĞīŽƌƚƐ Ăƚ ƌĞƐŽůǀŝŶŐ ƚŚŝƐ ŶĞĞĚůĞƐƐ ϭϯ͘ dŚĂƚ ǁĞ ĂƌĞ ƉĞƌƐƵĂĚĞĚ ƚŚĂƚ ǁŚĂƚ ǁĞ ĂƌĞ ǁŝƚŶĞƐƐŝŶŐ ĂŶĚ ĂǀŽŝĚĂďůĞ ĐƌŝƐŝƐ͘ tĞ ƐƵďŵŝƚ͗ ƚŽĚĂLJ ŝƐ ƚƌĂĐĞĂďůĞ ƚŽ ƉŽůŝƟĐĂů ĚŝīĞƌĞŶĐĞƐ ďĞƚǁĞĞŶ ĞdžƉĞƌŝĞŶĐĞĚ ϭ͘ dŚĂƚ ŝƚ ŝƐ Ă ŬŶŽǁŶ ĨĂĐƚ ƚŚĂƚ ^ĞŶĂƚŽƌ ŝŶŽ DĞůĂŝLJĞ ƐĞƌǀĞƐ ƐƚĂŬĞŚŽůĚĞƌƐ ƚŚĂƚ ǁĞƌĞ ůĞĂĚŝŶŐ ůŝŐŚƚƐ ƚŽ ƚŚĞŝƌ ƚĞĞŵŝŶŐ ŝŶ ƚŚĞ ƵƉƉĞƌ ĐŚĂŵďĞƌ ŽĨ ƚŚĞ EĂƟŽŶĂů ƐƐĞŵďůLJ͕ ƌĞƉƌĞƐĞŶƟŶŐ ƐƵƉƉŽƌƚĞƌƐ ĨƌŽŵ ƚŚĞ ƐĂŵĞ ƉŽůŝƟĐĂů ĂƐƐŽĐŝĂƟŽŶ ƚŚĞ tĞƐƚ ^ĞŶĂƚŽƌŝĂů ŝƐƚƌŝĐƚ ŽĨ <ŽŐŝ ^ƚĂƚĞ͘

ϭϰ͘ dŚĞ KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ ŝƐ͕ ŽŶ ĂĐĐŽƵŶƚ ŽĨ Ăůů Ϯ͘ dŚĂƚ ƚŚĞ tĞƐƚ ^ĞŶĂƚŽƌŝĂů ŝƐƚƌŝĐƚ ŽĨ <ŽŐŝ ^ƚĂƚĞ͕ ŚŝƐ ƚŚĞ ĂďŽǀĞ͕ ƵƐŝŶŐ ƚŚŝƐ ŵĞĚŝƵŵ ƚŽ ĂƉƉĞĂů ƚŽ Ăůů ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ >Ăǁ ŶĨŽƌĐĞŵĞŶƚ ŐĞŶĐŝĞƐ ĂƐƐŝŐŶĞĚ ƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŽĨ ĐŽŶƐƟƚƵĞŶĐLJ͕ ŝƐ ŵĂĚĞ ƵƉ ŽĨ ƐĞǀĞŶ >ŽĐĂů 'ŽǀĞƌŶŵĞŶƚ ƌĞĂƐ͘ ^ĞŶĂƚŽƌ ŝŶŽ DĞůĂŝLJĞ ĐŚĂůůĞŶŐĞ͕ ƚŽ ĚŝƐĐŚĂƌŐĞ ƚŚŝƐ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ϯ͘ dŚĂƚ &ŝǀĞ ŽĨ ƚŚĞƐĞ >' Ɛ ĂƌĞ ƉĞŽƉůĞĚ ϭϬϬй ďLJ zŽƌƵďĂ ǁŝƚŚ ĚƵĞ ƌĞƐƉĞĐƚ ƚŽ ƚŚĞ ůĂǁƐ ŽĨ ƚŚĞ ůĂŶĚ͕ ƌĞƐƉĞĐƚ ŚŝƐ ĨƵŶĚĂŵĞŶƚĂů ƐƉĞĂŬŝŶŐ KŬƵŶ ƉĞŽƉůĞ ĂŶĚ ŽŶĞ ŽĨ ƚŚĞ ŽƚŚĞƌ ƚǁŽ >' Ɛ ŚĂƐ Ă ƌŝŐŚƚƐ ĂŶĚ ƉƌŽƚĞĐƚ ŚŝƐ ĚŝŐŶŝƚLJ͘ ƐŝnjĞĂďůĞ ƉƌŽƉŽƌƟŽŶ ŽĨ ŝƚƐ ƉŽƉƵůĂƟŽŶ ĂƐ KŬƵŶ ƉĞŽƉůĞ͘ ϭϱ͘ dŚĞ KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ ĞƋƵĂůůLJ ĂƉƉĞĂůƐ ƚŽ ϰ͘ dŚĂƚ ^ĞŶĂƚŽƌ ŝŶŽ DĞůĂŝLJĞ͕ ĨŽƌ ƚŚĞ ĂďŽǀĞ ƌĞĂƐŽŶƐ͕ ŝƐ͕ Ăůů ƉĞĂĐĞ ůŽǀŝŶŐ ĐŝƟnjĞŶƐ ŽĨ ŐŽŽĚǁŝůů ŝŶ ƚŚŝƐ ĐŽƵŶƚƌLJ ǁŚŽ ĂƌĞ ŝŶ ůŝŬĞ ĞǀĞƌLJ ŽƚŚĞƌ ƉĞƌƐŽŶ ǁŝƚŚ ůĞŐŝƟŵĂƚĞ ĐůĂŝŵ ƚŽ ĂŶLJ ƉĂƌƚ ŽĨ ƚŚĞ Ă ƉŽƐŝƟŽŶ ƚŽ ĚŽ ƐŽ ƚŽ ƐƚĞƉ ŝŶ ĂŶĚ ĂƐƐŝƐƚ ŝŶ ƚŚĞ ƌĞƐŽůƵƟŽŶ ŽĨ ƚŚĞ KŬƵŶͲƉĞŽƉůĞĚ >ŽĐĂů 'ŽǀĞƌŶŵĞŶƚ ƌĞĂƐ͕ ŽƵƌ ŽǁŶ͘ ƉƌŽďůĞŵ ĂŶĚ ĚĞŵĂŶĚ ƚŚĂƚ ƚŚĞ ƐĞĐƵƌŝƚLJ ĂŶĚ ƐĂĨĞƚLJ ŽĨ ^ĞŶĂƚŽƌ ŝŶŽ DĞůĂŝLJĞ ďĞ ŐƵĂƌĂŶƚĞĞĚ ŝŶ ĂŶĚ ŽƵƚ ŽĨ ĐƵƐƚŽĚLJ͘ ϱ͘ dŚĂƚ ƚŚĞ KŬƵŶ ƉĞŽƉůĞ ŽĨ <ŽŐŝ ^ƚĂƚĞ͕ ŵŽƌĞ ƚŚĂŶ ĂŶLJ ŽƚŚĞƌ ƉĞŽƉůĞ͕ ƚŚĞƌĞĨŽƌĞ ŚĂǀĞ ũƵƐƟĮĂďůĞ ƌĞĂƐŽŶƐ ƚŽ ďĞ ĂƉƉƌĞŚĞŶƐŝǀĞ ϭϲ͘ dŚĞ K ĂƉƉĞĂůƐ ƉĂƌƟĐƵůĂƌůLJ ƚŽ ƚŚĞ W ĂƐ ƚŚĞ ƌƵůŝŶŐ Ăƚ ƚŚĞ ƌĞĐĞŶƚ ƵŐůLJ ĚŝŵĞŶƐŝŽŶ ƚŚĂƚ ŚŝƐ ĞŶĐŽƵŶƚĞƌ ǁŝƚŚ ƚŚĞ >Ăǁ ƉĂƌƚLJ ƚŚĂƚ ƉƌŽĚƵĐĞĚ Ăůů ƚŚĞ ĐŽŶƚĞŶĚŝŶŐ ƐƚĂŬĞŚŽůĚĞƌƐ͕ ƚŽ ĐŽŵĞ ŶĨŽƌĐĞŵĞŶƚ ŐĞŶĐŝĞƐ ŚĂƐ ĂƐƐƵŵĞĚ͘ ŽƵƚ ĂŶĚ ƐĞĞ ƚŽ ƚŚĞ ƉĞĂĐĞĨƵů ƌĞƐŽůƵƟŽŶ ŽĨ ƚŚĞ ĐƌŝƐŝƐ ǁŝƚŚŝŶ ŝƚƐ ĨŽůĚ ƚŽ ĨŽƌƟĨLJ ŝƚ ĨƵƌƚŚĞƌ ĨŽƌ ƚŚĞ ĐŚĂůůĞŶŐĞƐ ĂŚĞĂĚ͘ ϲ͘ dŚĂƚ ǁĞ ĂĐŬŶŽǁůĞĚŐĞ ĂŶĚ ĐŽŶĐĞĚĞ ƚŚĂƚ ŝƚ ŝƐ ǁŝƚŚŝŶ ƚŚĞ ƉƵƌǀŝĞǁ ĂŶĚ ƉƌĞƌŽŐĂƟǀĞ ŽĨ ƚŚĞ &ĞĚĞƌĂů ĂŶĚ ^ƚĂƚĞ 'ŽǀĞƌŶŵĞŶƚƐ ϭϳ͘ dŚĞ KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ ŝƐ ƵƐŝŶŐ ƚŚĞ ŵĞĚŝƵŵ ƚŽ ŵĂŝŶƚĂŝŶ ůĂǁ ĂŶĚ ŽƌĚĞƌ ǁŝƚŚŝŶ ƚŚĞŝƌ ƚĞƌƌŝƚŽƌŝĂů ũƵƌŝƐĚŝĐƟŽŶ͕ ĂƐ ƚŽ ĂƉƉĞĂů ƚŽ Ăůů KŬƵŶ ^ŽŶƐ ĂŶĚ ĂƵŐŚƚĞƌƐ ƚŽ ŝŶƚĞŶƐŝĨLJ ƚŚĞŝƌ ŝƚ ŝƐ ŝŶ ĞǀĞƌLJ ŽƚŚĞƌ ũƵƌŝƐĚŝĐƟŽŶ͘ ƉƌĂLJĞƌƐ ĂŶĚ ǁŚĂƚĞǀĞƌ ĞůƐĞ ŝƐ ůĞŐŝƟŵĂƚĞ ǁŝƚŚŝŶ ƚŚĞŝƌ ĐĂƉĂďŝůŝƚLJ ĨŽƌ Ă ƋƵŝĐŬ͕ ƉĞĂĐĞĨƵů ĂŶĚ ĨƌƵŝƞƵů ƌĞƐŽůƵƟŽŶ ŽĨ ƚŚŝƐ ĐƌŝƐŝƐ ĂŶĚ ϳ͘ dŚĂƚ ŝŶ ĚŽŝŶŐ ƚŚŝƐ 'ŽǀĞƌŶŵĞŶƚ ŵƵƐƚ ƌĞƐƉĞĐƚ ƚŚĞ ĚŝŐŶŝƚLJ ƉƌĂLJ ĨŽƌ ƚŚĞ ƉƌĞƐĞƌǀĂƟŽŶ ŽĨ ƚŚĞ ůŝĨĞ ĂŶĚ ŚĞĂůƚŚ ŽĨ ^ĞŶĂƚŽƌ ŝŶŽ ĂŶĚ ƉĞƌƐŽŶ ŽĨ ŚĞƌ ĐŝƟnjĞŶƐ͕ ŝŶ ĂĚĚŝƟŽŶ ƚŽ ƉƌŽƚĞĐƟŶŐ ƚŚĞŝƌ DĞůĂŝLJĞ͘ ĨƵŶĚĂŵĞŶƚĂů ƌŝŐŚƚƐ ĂƐ ŐƵĂƌĂŶƚĞĞĚ ďLJ ƚŚĞ ϭϵϵϵ ŽŶƐƟƚƵƟŽŶ ŽĨ ƚŚĞ &ĞĚĞƌĂů ZĞƉƵďůŝĐ ŽĨ EŝŐĞƌŝĂ ĂƐ ĂŵĞŶĚĞĚ͘ &ŝŶĂůůLJ͕ KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ ĂƐ Ă ďŽĚLJ ǁŝůů ĐŽŶƟŶƵĞ ƚŚĞ ŽŶͲŐŽŝŶŐ ďĞŚŝŶĚ ƚŚĞ ƐĐĞŶĞ ĞīŽƌƚƐ͕ ĂŶĚ ǁĞ ĂƌĞ͕ ŝŶ ĂĚĚŝƟŽŶ͕ ϴ͘ dŚĂƚ 'ŽǀĞƌŶŵĞŶƚ ŵƵƐƚ ŶŽƚ ĚĞƉůŽLJ ĞdžƚƌĂũƵĚŝĐŝĂů ĂŶĚ ƌĞĂĚLJ ƚŽ ƚĂŬĞ ŽŶ ĂŶLJ ĂĚĚŝƟŽŶĂů ƌŽůĞ ƚŚĂƚ ĐĂŶ ůĞĂĚ ƚŽ Ă ƉĞĂĐĞĨƵů ĞdžƚƌĂͲůĞŐĂů ŵĞƚŚŽĚƐ ŝŶ ĚĞĂůŝŶŐ ǁŝƚŚ ƐƵƐƉĞĐƚƐ ƌĞƐŽůƵƟŽŶ ŽĨ ƚŚĞ ŵĂƩĞƌ Ăƚ ŚĂŶĚ͘ ϵ͘ dŚĂƚ ƚŚŝƐ ŝƐ ĞǀĞŶ ŵŽƌĞ ĂŶ ŝŵƉĞƌĂƟǀĞ͕ ŐŝǀĞŶ ƚŚĞ dŚĂŶŬ LJŽƵ

BARR. FEMI MOKIKAN EĂƟŽŶĂů WƌĞƐŝĚĞŶƚ͕ KŬƵŶ ĞǀĞůŽƉŵĞŶƚ ƐƐŽĐŝĂƟŽŶ

14

T H I S D AY ˾ ˜ Ͱ͵˜ ͰͮͯͶ

COMMENT

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

A LECTURER AND HIS LIBIDO

Stakeholders must help to raise the level of discourse between students and lecturers, writes Monday Philips Ekpe

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he alleged conversation between Professor Richard Akindele and Miss Monica Osagie, both of the Obafemi Awolowo University (OAU), Ile-Ife, that went viral recently has once again put a spotlight on the tertiary educational institutions in Nigeria. In it, the lecturer demanded five rounds of sex in exchange for better marks. As expected, even before the university took the steps that led to the suspension of Akindele, the accused and authorities were roundly condemned by people for molestation and inability to protect students, especially females. It did not matter to the “judges” that the aggrieved student had failed for a long time to be physically identified with the confident voice in the social media that had put reputations at jeopardy.

Let’s be clear about this. The angst that has greeted this scandal is not misplaced. Even before Miss Osagie finally appeared before the university’s investigative panel to testify, the OAU saga already had sufficient grounds for its verisimilitude. Stories about lecturers who seek to satisfy their sexual passion not minding the mental and emotional trauma their victims suffer are common. These unscrupulous men sometimes refer to the girls as “bush meat”, delicacies to be savoured and enjoyed freely. In many situations, this unfortunate practice is the norm – something that has compromised the integrity of scholarship, examination results and certificates. The question is, can this nation afford to surrender the probity of its tertiary education to the forces of riotous, predatory sex drive? One does not have to be a moralist to accept the fact that young people who pay to acquire knowledge should not be violated by the persons charged with the responsibility of tutoring them.

Libido is an intriguing instinct. It commands a compelling presence.

It is innate, a core component of Id (as expounded by Sigmund Freud), without which procreation would be hindered. It is also a tested vehicle for bonding between persons in love. Sadly, too, it is capable of enslaving its owner. Some people in this category do yield their reasoning faculties to the dictates of their groin or pelvis. More than ever, lecturers need to have a better understanding of this human condition. It is in their own interest to do so rather than attempt to figure out how not to be exposed or caught after deliberate acts of intimidation and victimisation.

One explanation for this embarrassing lifestyle is the indecent dressing by some ladies on campus. This point is hypocritical and weak.

Should the sign, “Food is Ready” always convince a passerby to enter a restaurant and take a bite? Years back, while I was doing a story on sexual assault in the workplace, Chief (Mrs.) Opral Benson retorted, “The problem is with you men. Even if you see, why can’t you look the other way?” The answer to that pertinent poser is not always straightforward, we must confess.

There is another side to the sex demand and supply phenomenon on campus. The same unfavourable factors that make excellence difficult in higher institutions also contribute to the enthronement of academic laziness among lecturers and students. Endorsements and good marks are, therefore, sometimes sought and awarded fraudulently. Money,

ONE DOES NOT HAVE TO BE A MORALIST TO ACCEPT THE FACT THAT YOUNG PEOPLE WHO PAY TO ACQUIRE KNOWLEDGE SHOULD NOT BE VIOLATED BY THE PERSONS CHARGED WITH THE RESPONSIBILITY OF TUTORING THEM

material things, labour and sex have become currencies for such transactions. A female student told me the other day that, “It is stupid ladies like that girl (Osagie) who spoil market for babes”. That means it is not every time that teachers are the ones who initiate the move to produce undeserved grades from the bed. Sadly, a willing “provision store” exists. But no matter what, the bulk of the duty to ensure sanity here rests squarely on individual lecturers. It should bother them that gradually some of them are being defined by shameful extra-curricular activities.

We must not continue on the present path. The Nigerian public and relevant bodies should now raise the student-lecturer discourse above its current composition. It is indeed sad that the noble profession of teaching is being slaughtered on the altar of erotic ignominy and needless mutual distrust between lecturers and students. Not much can be achieved in an atmosphere fouled by bullying, or the fear of it, and sexual exploitation. Educational psychologists do agree that a certain degree of both formal and semi-formal affiliations between tertiary learners and their lecturers is required to attain desirable results.

Curiously, in many advanced countries, sexual harassment in higher institutions of learning is more prevalent amongst students. In those places, there are concerns that students and teachers do not even interact enough. In an article published in Oxford Review of Education in 2014 titled, “Teacher-Student Relationship at University: An Important yet under-researched Field”, Gerda Hagenauer and Simone Volet examined various researches on the quality and outcomes of the relationships that existed between students and their instructors.

According to them, “Based on the assumption that Teacher-Student Relationship (TSR) develops through ongoing interactions between students and teachers, the fundamental basis of TSR is the occurrence of these interactions. With regard to the beneficial effects of a positive TSR on students’ university adjustment, prior studies on the frequency of teacher–student interactions have painted a relatively alarming picture….that out-of-class interactions between students and their lecturers are infrequent and mainly task-focused.

“Few interactions go beyond course-related issues... that only 50% of an American student sample visited their teacher during office hours and that these consultations were brief… Informal interactions before and after class were more frequent, but a third of the students reported that they had never contacted their teachers informally…

Personal tutors at a British university reported many students did not approach them, even though their responsibility included both academic and social support.”

Similar investigations should be carried out here while taking into consideration our socio-cultural peculiarities. The findings could add value to the nation’s embattled higher learning architecture and form part of the “Sexual Harassment in Tertiary Educational Institutions Prohibition Bill, 2016” resting in the National Assembly at the moment.

DEMOCRACY, WILL AND PRACTICE Joseph Michael writes that Akwa Ibom governor, Udom Emmanuel, has done remarkably well

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n today’s Nigeria, it is very rare for people who do not share similar political ideologies and goals to acknowledge the giant strides of the opposition. This is probably because politics in this part of the world is still seen as winners take all. This could also have accounted for the slow pace of Nigeria’s development. Here, political parties rarely work with members of the opposition once they are in government. There is this suspicion among the political class. Unfortunately, such suspicion has only fuel led retrogression and inhibited our development. Our politicians are yet to learn the important lesson that good governance should be expected after politics. Governance should target the good of all irrespective of the political divide. The fact that a ruling party wins in an election should not be the basis for excluding brilliant minds from any part of the country, locality or political group from offering their quota to the overall development of the country. What should be of paramount concern in such contributions should be the overall interest of the country as a whole and assurance that such contributions are in line with the goals and aspirations of the ruling party or party manifesto, so to say. Our goal should be even development and progress.

Having said this, it becomes instructive also when electorate who for one reason or the other, in the course of exercising their fundamental rights of voting for political officers, showed preference for one candidate above the other, and still come out to publicly acknowledge the good works of the people they didn’t vote for. This is also a rarity in Nigerian politics. The norm here which is by no means the acceptable standard is for people to criticise those they didn’t vote for. Somehow too, consciously or unconsciously, the people voted into power, also seem to be more interested in the affairs of the people that voted for them before considering that of those who didn’t vote them in.

The popular statement credited to President Muhammadu Buhari readily comes to mind here.

The president had shortly after becoming the president, declared that the interest of the people who gave him 95 per cent votes would be prioritised above the ones that gave him just five per cent votes.

Perhaps this is why the acknowledgment by the Ikot Ambon community in Ibesikpo Local Government Area of Akwa Ibom State that the trademark of their state governor, Udom Emmanuel, is excellence is worthy of note. Even though angry with the government, these people could not hide their admiration for a governor who they believe, has worked relentlessly to deliver the dividends of democracy to his people. The community had in a peaceful protest, asked the governor to ensure that the quality of road projects in their areas, match the world class standard of work that their governor is known for. The people called on the government to extend its trademark of quality road construction to the Ikot Ambon-Nung Ette-Ikot Abasi Idem Road.

These people testified to the good works of their governor and acknowledged diverse ongoing road constructions and rehabilitation works by the state government in Uyo, the state’s capital as well as in all major towns and communities across the state.

However, the people made it clear to the governor that the ongoing road projects in their area which links the Nung Ette and Ikot Abasi Idem villages falls short of the expected standards for which their governor is reputed for. For the people to openly testify to the giant strides of Governor Udom Emmanuel is a big deal in this part of the world. Such is a testimony to the administration’s hard work in bringing development to every part of the state.

Really, the Udom Emmanuel’s administration can rarely be faulted in some of his major cardinal projects. The administration has gone a long way in making its impact felt in all the local government areas in the state by embarking on even

development of the state. When the governor got to office on May 29, 2015, he did not leave anyone in doubt as to his mission at the Government Office.

He had presented a five-point agenda of wealth creation, job creation, poverty alleviation, political and economic inclusiveness as well as infrastructural consolidation and expansion. The administration has since recorded some accomplishments across all sectors of the economy. With a budgetary allocation of N65.42bn in 2015 state appropriation and 91.8bn in 2016, infrastructural development and road construction, bridges and drainages have remained some of its priorities.

Dogged at accomplishing his objectives, the governor has ignored every form of distraction.

Since his inauguration, he has constructed nearly 200 kilometres stretch of roads across the state, touching every community. For instance, even the Ikot Ambon community confirmed that the governor awarded a road contract to a construction firm between May and June last year. Indeed, as of mid-last year, the Udom Emmanuel’s administration has constructed over 160km of roads, 12 bridges and other infrastructure across the state. The projects included the dualisation of 19.7kmUyo-Etinan Road; construction of 39.4km Etinan-NDON Eyo Road with bridges and spur; construction of 7.3 km Ebekpo-Ikot Ebidang road; construction of 3.5 km Ikot Udom Road with 15m span bridge in Ibiono Ibom Local Government Area; construction of 5km Ikot Usop-Ikot Edegbe-Ikot Ekpuk Road with 30m span bridge in Mkpat Enin Local Government Area; construction of 5km Mkpok-Okat road in Onna local government area; dualisation of Eket-Ibeno road; dualisation of Oron-Uyo road ; construction of Information Drive and other internal roads in Uyo. All these construction works are aside the urban renewal projects within Eket township, emergency interventions, flood control, completion of outfalls and urban roads in Oron. The administration also

constructed a second Runway at the Akwa Ibom International airport. This is in addition to the construction of three collapsed bridges and internal roads in Obot Akara local government area.

The governor has also gone beyond road construction to investing in human capital, particularly in the youths through different vocational trainings. The farmers are not left out. He established a Special Cocoa Maintenance Scheme (SCMS) to train farmers and youths on pruning/shading management, under- brushing, and tree care by fumigation, all in an effort to improve on farm yields.

It is heartwarming that this is happening at a time that many Nigerians have come to the realisation that the nation should invest more in its agricultural sector to improve its foreign earnings. The governor has re-introduced the second planting season in the state for enhanced food production and sufficiency.

He didn’t stop at that. To encourage farmers to go into farming, he refurbished and upgraded three 10mt/day cassava processing factories in the three Senatorial districts in the state and cultivated 40 hectares of seed multiplication cassava farm in all the districts to provide free stems for farmers. He also ensured the distribution of improved oil palm and cocoa seedlings to farmers in the state and extended technical advisory services to about 350 fish farms in the state. He also saw to the cultivation of 300 hectares of cassava under the FADAMA III+ Financing Programme.

There is no doubt that all of these steps are essential in any state that aims at greatness, self sufficiency and industrial development. Infrastructural development is one of the key components of growth. For example, good roads are needed to transport farm produce to the end users. If all of these developmental efforts are sustained, Akwa Ibom State’s journey to greatness may be nearer than one can best imagine now.

Michael wrote via dsuccessfactory@gmail.com

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T H I S D AY FRIDAY, APRIL 27, 2018

EDITORIAL THE WASTING FEDERAL ASSETS…2 Many wasting national assets could be put to productive use

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y initiating a discussion on some of the prime assets that can be converted into productive activities, we believe that the Lagos State Government may have started a process or model that other states where federal assets are situated and lying waste can adopt. There is really no economic sense in allowing valuable national assets most of which are in prime locations to remain in their present state of neglect. At a period we need to think out of the box to address the myriad of socio-economic challenges, there should be no room for waste.

One of the assets being eyed by the Lagos State government is the National Stadium in Surulere. Built in 1972 to host the All African Games that was held a year later, it can give expression for the abundant energy of the nation’s youth to excel in most fields of sports. For three decades, the facility—with an initial 55,000 capacity main bowl--fulfilled that purpose, hosting several national and international sports competitions even as it also served as a training ground for the sports WE URGE THE men and women.

GOVERNMENT TO TAKE Unfortunately, things QUICK STEPS ON MANY began to fall apart OF THESE ENTITIES in 2004 when the THAT ARE WASTING stadium started to AWAY EITHER BY GIVING suffer neglect, perhaps THEM OUT TO PRIVATE due to the construcINVESTORS IN LINE WITH tion of a new national ITS CONCESSION POLICY stadium in Abuja, OR HANDING THEM OVER the Federal Capital TO STATES THAT ARE Territory.

INTERESTED IN RUNNING Today, all its THEM facilities are thoroughly dilapidated.

The edifice that was once a national monument has deteriorated into an eyesore to the embarrassment of a nation that is increasingly becoming incapable of maintaining its national assets. In the past one decade, the facilities have degenerated from providing skeletal

Letters to the Editor

sports function to a religious events centre and now, a den of social misfits called area boys, who use it as a launch-pad for attacking innocent citizens living in the vicinity.

Quite tragically, the same fate has befallen all the other national stadia, including Ibadan, Enugu, Bauchi, Kaduna and Abuja. All of them have become huge economic waste. The situation of Abuja stadium is worse. Built in 2003 at the cost of $360 million (more than N100 billion today), the 60,491 capacity edifice is one of the most expensive of such projects in the world. Renovated severally with billions of naira between 2009, when it hosted the Junior World Cup, and 2012, when it went into disuse, the stadium is now an unofficial grazing reserve for cattle.

O T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOLAJI ADEBIYI, JOSEPH USHIGIALE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

fficials have blamed poor funding for this unfortunate state of affairs. Available records show that the six stadia got N300 million in the 2012 budget for maintenance, increasing slightly to N400 million in 2016. With this meagre fund, it is evident that the facilities could only be what they are.

But there is lifeline from the Lagos State government, at least for the National Stadium in Surulere.

Worried by the social implications of the existence of such a huge facility abandoned in the heart of his state, Governor, Mr Akinwunmi Ambode requested the federal government to hand over the National Stadium, Surulere to the state, promising to transform it back to a world class standard. While the Minister of Sports, Mr. Solomon Dalung, promised to give the request a favourable consideration, no concrete response has been received from the federal authorities.

We urge the federal government to take quick steps on many of these entities that are wasting away either by giving them out to private investors in line with its concession policy or handing them over to states that are interested in running them. On the particular case of the National Stadium, the federal government should proceed by granting the request of the Lagos State government since they have need for the facility and the resources to run it.

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

THOUGHTS ON WORLD MALARIA DAY

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erhaps more than any other disease, malaria stays in the developing world and continues to spread because of poverty. It keeps on infecting and weakening people because of poor sanitation, poor health practices, poor environmental practices and poor housing.

In Nigeria, in spite of the huge amount that governments both at the federal and the states levels spend in the provision of curative malaria drugs with the support received from the Global Fund, malaria has remained endemic. Indeed, it is impossible to calculate the actual harm malaria has done to us. The malaria parasite has been sapping the strength of the whole populations. It impairs the health of our people and consequently restraints economic development. It leads to loss of productive hours, productivity, money, persistent absenteeism and maternal and child mortality, among others.

Meanwhile, for Nigeria to move forward, we really have to get rid of malaria just as we need to do with similar preventable diseases such as measles, diarrhea and tuberculosis. The question here is: Since malaria is a preventable disease, why is it so endemic to the extent that our country alone bears about 25 per cent of Africa’s malaria burden? The answers are simple and straightforward.

In Nigeria, one of the essential family practices that are found wanting is sufficient protection from mosquito bites. Two, most illnesses, including malaria, are treated at home or in the community before or without seeking care at a formal health facility. Added to these are our coastal environment, poor environmental sanitation and improper diagnoses. In many places, hospitals don’t do a proper

check. Anyone with the minutest symptoms of malaria is often offered treatment without proper diagnosis. The consequence is that while a growing number of countries have recorded decrease in the number of confirmed cases of malaria, the disease remains a scourge here. As such, it is crucial for everyone to be aware of and adhere to essential family practices to promote mosquito control and prevention. You can’t contract malaria if you aren’t bitten by mosquitoes, and the type of mosquitoes that transmit malaria usually bite at night. For this reason, it is important to sleep every night inside a long-lasting insecticide-treated bed net. Long-lasting bed net is a tool that is most associated with the recent progress against malaria.

Another way out is to always ensure that all windows and doors are properly screened to prevent mosquitoes from coming in.

Many people also perform what is called indoor residual spraying where they spray insecticide on likely mosquito hideouts in the house. It is equally advisable for those that frequently have malaria attack to wear long-sleeved clothing in the evenings and at night to prevent being bitten by mosquitoes. Furthermore, proper diagnosis is of utmost importance as people need to be aware that having symptoms of fatigue, weakness, nausea and cold, which are very typical of malaria, is not enough to conclude it is malaria, thereby resorting to self-medication without visiting a health facility for proper diagnosis and treatment.

The World Health Organisation (WHO) recommends that anyone suspected of having malaria should receive diagnosis and treatment with an effective drug within 24 hours of the onset of symptoms. It is only when a sick person cannot have access to a health care provider

within that timeframe that home treatment is acceptable as first aid.

Moreover, it is important to stress that you should not be given chloroquine to treat malaria, unless your case is confirmed as not being caused by plasmodium falciparum. Virtually all the plasmodium falciparum in Africa are resistant to chloroquine, and so it is no longer an effective treatment. Instead, first-line treatment for malaria is recommended as an artemisinin-based combination therapy.

However, the truth is that whether the malaria map will keep shrinking, as it has in the past decade, or be reclaimed by the malaria parasites depends, to a great extent, on the resources that will be invested in control efforts over the next few years. Thanks to malaria elimination efforts in United States in the 1940s, most people in the U.S. today have never had any direct contact with the disease, and most doctors have never seen a case. That success means other nations including Nigeria can also achieve reduction or complete elimination with right investment and positive attitude.

Over the last couple of years, UNICEF’s support has been focused on several different states where the agency distributes and promotes the use of insecticide-treated bed nets. UNICEF also supports health facilities and community-based health workers with diagnosis and treatment of malaria, and it supports preventive treatment for pregnant women.

In this direction, Lagos State government’s investment in malaria control has progressed appreciably with lots of steps being taken to clinically stamp out the prevalence of malaria and its parasites.

Rasak Musbau, Lagos State Ministry of Information and Strategy, Alausa, Lagos

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T H I S D AY ˾

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T H I S D AY • FRIDAY, APRIL 27, 2018

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

POLITICS

When Obedience Should Not Be a Liability Last week’s ruling by a Federal High Court in Abuja may have dealt a fatal blow to government’s plans to criminalise the settlement agreement between the federal government and Malabu Oil and Gas, writes Davidson Iriekpen

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former Minister of Justice and Attorney General of the Federation (AGF), Mr. Mohammed Adoke (SAN), was in the news last week when he won a landmark judgment delivered by Justice Binta Nyako Federal High Court in Abuja.

Delivering her verdict in a suit filed by the former AGF against the incumbent AGF, Mr. Abubakar Malami (SAN), the judge held that Adoke could not be held liable for his roles in the Oil Processing Licence (OPL) 245 transactions, commonly referred to as the Malabu deal.

In the judgment which many pundits feel could considerably impact on the trial of the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), Justice Nyako held that since Adoke only executed the lawful directives/ approvals of the then President Goodluck Jonathan, he was free of any liability for his roles in the deal.

Just like Dasuki, the Economic and Financial Crimes Commission (EFCC) had charged Adoke with various offences for his roles in the transactions in which Nigeria was said to have been defrauded of about $1.8 billion. It accused the former AGF of aiding the transfer of money to his co-defendant, Dan Etete, himself a former petroleum minister and conspiring with him to commit money laundering offences in the Malabu Oil deal.

Adoke consequently filed the suit wherein he prayed the court to free him from any criminal liability in respect of the transactions and to declare his prosecution by the EFCC null and void.

He asked the court to determine whether having regard to the provisions of section 5(1) of the constitution, the executive powers of the federation are vested in the president to exercise same directly or through a minister of the government of the federation; and whether he while serving as a minister can be held personally liable for carrying out the lawful directives and or implementing the lawful approvals of the president.

He went on to seek the following reliefs: A declaration that his involvement in the negotiations leading to the implementation of the settlement agreement dated November 30, 2006 between Malabu Oil and Gas Limited and the federal government and the eventual execution of OPL 245 Malabu resolution agreement dated April 29, 2011 between the federal government and Malabu Oil and Gas Limited was in furtherance of the lawful directives approval of the president in the exercise of his executive powers; a declaration that his involvement in the negotiation and eventual execution of the OPL 245 Shell Nigeria Ultra Deep (SNUD) resolution agreement dated April 29, 2011 between the federal government and Shell Nigeria Ultra Deep and Shell Nigeria Exploration and Production Company Limited was in furtherance of the lawful directives approval of the president in the exercise of his executive powers; a declaration that his involvement in the negotiation and eventual execution of OPL 245 resolution agreement dated April 29, 2011 between the federal government and Agip Exploration Limited and Shell Nigeria Exploration and Production Company Limited was in furtherance of the lawful directives approval of the president in the exercise of his executive powers; and a declaration that his prosecution by EFCC on account of his carrying out the lawful directives and implementation of the approvals of the president while he served as a minister of the government of federation is illegal, null and

Mohammed Adoke, SAN

void and inconsistent with the intendment of section 5(1) of the Constitution.

In his response, Malami filed a conditional memorandum of appearance on June 22, 2017 and filed a six-paragraph counteraffidavit dated July 3 2017 supported with a written address. He also filed a notice of preliminary objection supported by a six-paragraph affidavit to which he also attached a written address.

Plaintiff, in response to defendant’s counter affidavit filed on July 26, 2017 a six-paragraph further affidavit supported with a written address on points of law in reaction to the defendant’s notice of preliminary objection, the plaintiff on July 26, 2017 filed a sevenparagraph counter-affidavit supported with a written address. He also filed a five-paragraph further and better affidavit on January 16, 2018 containing exhibits 19 and 20.

Since the preliminary objection raises issues of jurisdiction, Justice Nyako determined the suit by first looking at the issues raised in the preliminary objection. In the said objection, the defendant challenged the jurisdiction of the court to hear and determine the suit on the grounds that the plaintiff did not disclose any cause of action in the suit; civil suit could not be used to stop criminal prosecution already initiated; the plaintiff’s suit as constituted was incompetent and that the court lacked the jurisdiction to hear and determine the suit.

In his written address, defendant raised two issues for determination to wit: whether the plaintiff/respondent’s suit discloses a cause of action against the defendant and whether the plaintiff/respondent’s suit is not an abuse

The plaintiff (Adoke) as agent of a disclosed principal therefore incurred no personal liability.

of court process?

But in her judgment, Justice Nyako resolved all the issues raised for determination in favour of the plaintiff and dismissed the preliminary objection. She granted four of Adoke’s prayers but refused one which sought a declaration that his prosecution was null and void.

The judge noted that contrary to the defendant’s contention that the plaintiff exceeded the directive of the president and in the process committed a crime, Exhibits 19 and 20, which remained uncontradicted and unchallenged, confirmed that the plaintiff actually remained within the confines of the lawful directives given to him by the president and is therefore protected by law. Exhibit 19 was a letter written by the AGF to the Acting Chairman of EFCC, Mr. Ibrahim Magu, to the effect that Adoke had no case to answer in respect of the actions he took pursuant to the directives/approvals of the president in respect to the implementation of OPL 245 resolution agreement.

Exhibit 20 was a letter from the Minister of State for Petroleum Resources to the Chief of Staff to the President in response to the latter’s request for advice on the letter by the AGF to the Acting Chairman of the EFCC on OPL 245 settlement agreement implemented by the plaintiff, in which the Minister of State for Petroleum Resources agreed with the opinion of the AGF. Justice Nyako said by the provisions of sections 5(1), 147, 148 and 150 of the Constitution of the Federal Republic of Nigeria (as amended), the executive powers of the federation were vested in the president and which he could exercise either personally or through any of his appointed ministers.

She said: “I have carefully studied the provisions of sections 5(1), 147, 148 and 150 of the constitution. A community reading of sections 5(1), 147(1), 148(1) and 150 of the constitution leaves you in no doubt that the executive powers of the federation, as vested in the president, are exercisable by him directly or through a minister of the federation.”

She held that Adoke could not be personally

held liable for acts done in furtherance of the lawful directives/approvals of the president, and that the former AGF in that situation, acted as an agent of a disclosed principal.

According to her, having examined paragraph 4d, 4bb and 4cc of the affidavit in support of the originating summons, as well as Exhibits 10A & 10B and 11A & 11B, Exhibit 11B is a presidential approval directing the plaintiff to implement the OPL 245 Resolution Agreement, while Exhibit 10B is the approval by the president for Malabu Oil and Gas Limited to be paid US$1, 080,040,000 in settlement of the dispute.

“I am therefore in agreement with the plaintiff’s submission that he was merely carrying out the lawful directives of the president and that a principal and agent relationship is created where the president assigns a responsibility to a minister appointed by him pursuant to sections 147 and 148 of the constitution.

“It is my considered view that while the plaintiff was carrying out the lawful directives of the President pursuant to section 5(1) and 148(1) of the cconstitution as contained in Exhibits 10B and 11B with respect to the implementation of the OPL 245 resolution agreement, an agency relationship of a disclosed principal was established. The plaintiff, as agent of a disclosed principal therefore incurred no personal liability.

“On the whole, I am convinced that the provisions of sections 5(1), 147(1), 148(1) and 150 of the constitution are clear and unambiguous and should be given their literal and ordinary meaning. I therefore hold that the executive powers of the federation vested in the president by virtue of section 5(1) of the constitution can be exercised by him directly or through ministers appointed by him and that by the combined effect of sections 5(1), 147(1) and 150 of the constitution, the plaintiff who was appointed a minister in the government of the federation by the then President Jonathan, can exercise the executive powers of the federation vested in the president as directed by the president, and that the plaintiff while serving as a minister of the government of the federation cannot be held personally liable for carrying out the lawful directives and/or implementing the lawful instructions of the president.”

But the judge refused to grant relief five where Adoke prayed for a declaration that his “prosecution by the EFCC on account of his carrying out of the lawful directives and implementation of the approvals of the president while he served as a minister of the government of the federation, is illegal, null and void and inconsistent with the intendment of Section 5(1) of the Constitution.”

She adduced her reason to the fact the EFCC was not joined in the suit, adding that the prayer was unnecessary and amounted to an academic exercise in the light of Exhibit 19 (Malami’s letter to the Acting Chairman of the EFCC).

“I am however unable to grant relief five in the plaintiff’s originating summons as the EFCC was not joined in the suit. Besides, in the light of Exhibit 19, the relief has become academic,” she held.

Despite her refusal to grant relief five, many analysts believe that the judgment would no doubt impact on the criminal charge that is currently ongoing before the same court in Abuja as the office of AGF is the chief prosecuting officer of the country and the custodian of all the suits filed on behalf of the federal government.

T H I S D AY • FRIDAY, APRIL 27, 2018

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POLITICS

RIGHT OF REPLY

Re: The Looters Curse The release of a list of purported looters by the Muhammadu Buhari administration is a desperate attempt to divert attention from its monumental failures, writes Kola Ologbondiyan, publicity secretary of the Peoples Democratic Party

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fter perusing the article by erudite Dr. Sam Amuta entitled ‘The Looters Curse’ and published on the backpage of Monday, April 16, 2018, edition of THISDAY, our party, the People’s Democratic Party (PDP), considered it imperative to join in this conversation and help set the narrative.

The PDP, built on the ideals of democracy, particularly the principles of free speech, appreciates Amuta for creating the needed intervention voice in the polity at a time like this.

In the piece under review, Amuta drew an analysis of the two major political parties in Nigeria with a witty observation that showcased the electoral desperation by the All Progressives Congress (APC) in its diversionary recourse to smear campaign against the PDP as a political party, ahead of the 2019 general elections.

Indeed, every good spirited Nigerian is worried about the prevailing political and economic trajectory under the failed APC administration such as the constitutional violations and erosion of democratic tenets; the general restiveness, widening divisiveness, daily bloodletting and biting recession with attendant hunger and starvation in the land.

It is against this backdrop that the PDP appreciates every intervention in the allimportant quest to salvage our nation and redirect the course of the ship of state for the good of all our people.

For us in the repositioned and rebranded PDP, what is paramount today is the unity, cohesion, stability of our dear nation, improved economy and the safety of Nigerian citizens. We are also very conscious of the fact that there can only be political parties and elections if our nation remains united as one entity in an atmosphere of freedom, peace and justice.

As we approach 2019, our basic responsibility as a people, and, particularly, as political parties, must be the deliberate commitment towards creating a cohesive atmosphere and adopting approaches that will promote peace and ensure that Nigerians see each other as one, irrespective of creed, ethnicity or class.

All over the world, the primary duty of government is to ensure the security, freedom and economic wellbeing of her citizens. It is needful to state that these essentials, which have failed in the last three years of the APC rule, form the basis for which the generality of Nigerians are earnestly seeking a return of governance vehicle to the platform of our repositioned PDP. Expectedly, this trend has sent the APC to a panic mode thus forcing it to resort to a self-help mechanism of publishing names of eminent Nigerians that have not been convicted in any court of competent jurisdiction and stigmatizing them as “looters”. This method is against the letters and spirit of the 1999 Constitution (As Amended).

This is not to suggest by any measure that the PDP is made up of angels or an inference that Nigerians, including members of our party, found of malfeasance bordering on corruption should not be tried in a court of competent jurisdiction.

It is however imperative to state that in spite of various allegations that are being contrived against the PDP, in her 16 years of governance, our nation did not witness the kind of hunger, starvation, economic distress, abuse of rule of law, daily bloodletting, widening division and arrogant disdain by leaders that is plaguing Nigerians and our dear nation today.

This was fundamentally so because unlike the APC’s nepotic, restrictive, divisive, repressive and undemocratic policies, the PDP, in keeping with the dreams of its founders, operated an all-inclusive nationalistic system that nurtured mutual respect for and understanding of the religious and cultural diversity to achieve national cohesion.

Kola Ologbondiyan

In the PDP years, deliberate polices that ensured the happiness and economic prosperity of Nigerians through equitable distribution of resources, access to power and the channelling of the energy of citizens towards productive labour through promotion of private entrepreneurship and provision of critical infrastructure were put in place.

While the APC, in the last three years, had engrossed itself in restrictive approach and absence of a potent economic team, the PDP, with its broad-based policies while in government, was able to assemble the best hands and minds into a virile, responsible and responsive economic team that drove the critical sectors and opened the space for an unprecedented productivity.

Despite inheriting a comatose economy in 1999, where a barrel of crude oil sold as low as $9USD and a foreign reserve that was just above $1billion, successive PDP administrations revamped the economy, cleared Nigeria’s foreign debt overhang, consolidated the financial and banking sectors, set up critical infrastructures, opened the nation for influx of foreign direct investments, while empowering private initiatives to flourish through the policy of transfer of wealth from the public to the private sector.

In its tenure of 16 years, the PDP opened

It is therefore annoying and appalling that instead of accepting its failure, the APC has been busy bandying false performance indices, phony statistics and blame games while Nigerians suffer.

the space for Nigerians to profitably engage and record unprecedented successes in oil and gas, aviation, agriculture, telecommunication, education, health, transportation, real estate, power, construction, hospitality, manufacturing and other critical sectors.

It is on record that under the wealth transfer policy, the Nigeria economy recorded a golden era wherein business concerns such as the Dangotes, Innosons, Stallion Groups, Globacoms, among others, thrived. Many multinationals opened businesses; several small and medium businesses sprung up, more transport companies, hotels, banks, airlines, hospitals, schools, farms, reputable diners, car manufacturers such as Kia and Nissan as well as retail giants, like Shoprites opened businesses across the country, all, offering millions of jobs while the stock exchange witnessed an unparalleled leap.

The GSM and Internet revolution inspired by the PDP transformed the lives of Nigerians and eased the burden of activities in business, education and inter-personal relationships.

Internet banking brought more transparency and speed in business as well as interpersonal financial transaction During the PDP 16 years in governance, more Nigerians built houses while many more had access to mortgages. Many bought new cars, had access to better medical care, food, leisure and better saving opportunities.

The artisans had patronages while market men and women had booming businesses.

Within 16 years, Nigeria rose from a pariah and economically disadvantaged nation to become internationally graded as the third fastest-growing economy after China and Qatar, with her citizens’ purchasing power becoming one of the most competitive in the world.

It is instructive to state that the economic success recorded by the PDP did not come by chance or stroke of fortune but by sheer application of robust policies, which enabled the nation to weather the adverse effects of a global economic meltdown that devastated even major economies of the world at some point.

On health, one of the major decisions of the PDP, drawing from its policy of all-inclusiveness, was to create world-class referral tertiary hospitals in the six geo-political zones in addition to primary and secondary facilities in communities and cities in states across the country.

The National Health Insurance Scheme (NHIS) Roll Back Malaria Initiatives, Kickout Polio project, National Agency for the Control of AIDS (NACA), the Tuberculosis intervention among other people based initiatives show PDP’s commitment to the wellbeing of ordinary Nigerians in line with its manifesto.

In education, successive PDP governments expanded the learning and enrolment capacity of primary and secondary schools, established the Almajiri School system, consolidated school curriculum; ensured that all states of the federation has a federal university in addition to the establishment of the National Open University of Nigeria (NOUN), all granting unfettered access to quality education to the generality of Nigerians.

On the fight against corruption, the PDP established the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other related offences Commission (EFCC) and other anti-graft agencies and amended the Administration of Criminal Justice Act (ACJA) for speedy dispensation of corruption cases. Our party and government never provided cover for any fugitive of law or anybody accused of corruption, whether low or high.

It is, therefore, very saddening that within the space of three years of APC harsh, restrictive and stifling policies, all the gains of the PDP’s 16 years rule have been reversed. Our economy has gone into a biting recession, businesses are folding up, foreign multinationals are leaving for other countries, while over 24 million Nigerians have lost their jobs.

The APC government has not been able to initiate and implement any physical development projects, critical infrastructures are collapsing, while direct foreign investments have taken a flight from our shores. The once third fastest growing economy has been returned to borrowing and is no longer among the ten investment destinations in Africa.

In a space of three years, our country has become sharply divided along primordial lines promoted by the nepotic actions of the APC just as democratic tenets have been eroded. The principle of separation of powers, respect for rights of citizens and the rule of law entrenched by the PDP have all been thrown overboard. Nigerians now live in fear, trepidation, agony and despondency.

Painfully, the freedom that our constitution enshrined for us is gradually becoming an essential commodity.

It is therefore annoying and appalling that instead of accepting its failure, the APC has been busy bandying false performance indices, phony statistics and blame games while Nigerians suffer.

Our take is that the PDP cannot be painted with the APC brush because these two political platforms have a marked difference. Whereas the PDP remains a people-oriented platform driven by democratic principles and ideals, the APC is only an ideologically vacuous special purpose contraption used by a selfish few to gain access to power and thereafter turned against the same people, particularly the youths, in utter disdain.

Furthermore, whereas the PDP, as a political party, has not been indicted for any act of corruption, the APC has failed to state the source of the billions of naira it used for its 2015 Presidential campaigns.

As we prepare for the 2019 elections, the PDP will rally with majority of Nigerians, particularly the Generation-Next, to take our nation out of this unwitnessed hunger, starvation and economic stagnation.

We hold it here for now!

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BUSINESSWORLD

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157, 08057161321

Í° ÍŽ Ë&#x153; Í° ÍŽ ÍŻ Íś MONEY MARKET OBB OVERNIGHT

REPO 7.17 % 8.08 %

CALL 1-MONTH 3-MONTH

5% 8.75 % 9.50%

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

347.43 % 0.07% 1.41%

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

5.45 % 5.45 %

EXCHANGE RATE ͹͎ͳË&#x203A;ʹͳ˚ͯ ĚŠ ĚŠ

Quick Takes NAMA to Boost IGR

The Nigerian Airspace Management Agency (NAMA) has begun moves to shore up its revenue base in order to eďŹ&#x20AC;ectively meet its core obligation of air navigation service provision within the Nigerian airspace to stakeholders. This move according to NAMA Managing Director, Capt. Fola Akinkuotu became imperative owing to the rising commitments of the agency in the area of upgrading navigational infrastructure, enhancing air traďŹ&#x192;c management services, building staďŹ&#x20AC; capacity as well as other personnel costs. Capt. Akinkuotu who made these remarks while receiving the report of the Revenue Mobilization Committee set up by the agency said management would carefully study the report with a view to implementing relevant aspects of it, stressing that â&#x20AC;&#x153;an improvement in the revenue proďŹ le of the agency would translate to a more robust NAMA, discharging its functions in a more eďŹ&#x192;cient manner.â&#x20AC;? He however enjoined staďŹ&#x20AC; â&#x20AC;&#x153;to be more prudent and avoid wastages in order to make this dream realizable.â&#x20AC;? It would be recalled that in the quest to improve its revenue generating capacity, the agency recently inaugurated a Revenue Mobilization Committee whose core term of reference was to extensively deliberate on the agencyâ&#x20AC;&#x2122;s statutory revenue sources and develop strategies for more eďŹ&#x20AC;ective ways of generation and collection.

SAA Maintains 4-Star Skytrax Ranking

COURTESY VISIT

MD/CEO, FirstBank, Dr. Adesola Adeduntan (second left); Executive Director, Public Sector Group, FirstBank, Mallam Abdullahi Ibrahim (Left); Executive Director Corporate Banking, FirstBank, Dr. Remi Oni (right), during the Bankâ&#x20AC;&#x2122;s courtesy visit to the Governor of Kwara State, Abdulfatah Ahmed (second right), at the State House, Ilorin following the armed robbery attack in the town of Offaâ&#x20AC;Śrecently

Nigeria May Need $50bn to Modernise Airport Facilities Chinedu Eze A former managing Director of the Federal Airports Authority of Nigeria (FAAN), Richard Aisuebeogun, has called for immediate expansion of airport facilities and upgrade of landing aids to meet projected annual passenger demand of 30 million by 2030. He said that if the current decay is not arrested, Nigeria would have to spend $50 billion for total revamp of the facilities.

Aisuebeogun noted that Nigeria has suffered infrastructure deficit of public utilities due to complacency, lack of commitment to nation building and inefficient utilisation of government resources.

He reasoned that government must get the private sector involved in the development of airport infrastructure to

AVIATION move at the pace needed to end the decay going on at the nationâ&#x20AC;&#x2122;s airports to be able to meet the passenger demand.

According to him, passenger traffic is growing at 6-7 per cent annually; although it is subjected to other socio-economic variables, such as the growth in GDP and disposable income, especially with the active population (the middle class).

Aisuebeogun who spoke to THISDAY in Lagos, said the airport infrastructure such as the runway, apron, terminals and others need to be revamped or upgraded in order to avert huge expenditure that would become inevitable in future if action is not taken now.

He recalled that in 2012, the Chinese government gave

Nigeria $500 million to build four terminals at four major airports in the country, which meant that $125 million was spent on each terminal, noting that this could be extrapolated to indicate the cost of a modern airport terminal.

The former managing director of FAAN said that in Nigeria, the private sector is only contributing about 46 per cent of the funds in airport development, which means that government, and its agencies are contributing 54 per cent but in other parts of the world, the private sector is major financier of airport infrastructure.

He said that government needs substantial part of its resources to provide essential needs for the citizenry, so government should expect foreign direct investment to be able to provide the citizens

essential needs, which include infrastructure, healthcare and education.

Furthermore, he said that it is estimated that $4.4 billion would accrue to Nigerian aviation sector by 2018 from the private sector if government provides the enabling environment for private capital investment in airport development.

Aisuebeogun said presently government is under pressure to reduce spending on airport infrastructure due to other contending needs, so it has to mobilise private capital for new investment.

On how poor airport infrastructure and lack of capacity affect the growth of airlines that operate in such airports, the CEO of Aero Contractors, Captain Ado Sanusi said: â&#x20AC;&#x153;There Continued on page 20

Dangote Cement Export to Improve IntraECOWAS Trade from 9% Eromosele Abiodun Dangote Cement Plcâ&#x20AC;&#x2122;s plan to export 3mnt per annum of clinker, 17 per cent of its Nigerian production from the fourth quarter of this year could see intra-Economic Community of West African States (ECOWAS) trade improve from the current 9 per cent, sub-Saharan Africa Economist, Renaissance Capital, vonne Mhango has said.

In a report titled, â&#x20AC;&#x153;Africa: Intra-regional trade â&#x20AC;&#x201C;A function of diverse exports,â&#x20AC;? she pointed out that the African Continental Free Trade Area (CFTA) agreement was signed by

MARITIME 44 countries recently, committing them to remove tariffs on 90 per cent of imports, is expected to improve intraregional trade which stands at 20 per cent in Africa as against 62 per cent between advanced economies. â&#x20AC;&#x153;In West Africa, Dangote Cement Plc currently exports Nigerian cement by road to Ghana and Togo but in small quantities, 6 per cent of its total Nigerian production. Dangote Cement is on track to start exporting 3mnt pa of clinker (17 per cent of its Nigerian produc-

tion) through Port Harcourt and Apapa in Nigeria from Q4, 2018.

The company plans to export this clinker to Ghana, Cameroon and Cote dâ&#x20AC;&#x2122;Ivoire. This implies upside for intra-regional trade in ECOWAS, â&#x20AC;&#x153;she stated.

Of Africaâ&#x20AC;&#x2122;s regional blocs, Mhango said the Southern African Development Community (SADC) has the highest intraregional trade at 23 per cent.

She added that the Common Market for Eastern and Southern Africa (COMESA) has the lowest at 8 per cent, albeit up from 4 per cent in 2000.

According to her, â&#x20AC;&#x153;We found that the blocs with higher intra-

regional trade â&#x20AC;&#x201C; SADC and the East Africa Community (EAC), albeit a far second at 10 per cent â&#x20AC;&#x201C; have diversified exports and the advantage of having member states that are geographically close. We believe COMESAâ&#x20AC;&#x2122;s export diversity is undermined by the fact that member states are geographically distant (Swaziland to Egypt).

The bloc with the lowest export diversity is the Economic Community of West African States (ECOWAS); we attribute this to the dominance of commodities (crude oil, cocoa, gold) that are Continued on page 20

South African Airways (SAA) has maintained a 4-Star Skytrax ranking, in both Business and Economy Class, for a 16th consecutive year. â&#x20AC;&#x153;This win will surely strengthen our global position for once again being awarded a 4-Star ranking. Awards demonstrate that SAA is standing its ground as one of the leading airlines in the world,â&#x20AC;? said Tlali Tlali, SAA spokesperson.

The SAA stations audited this year were South Africa: ORTIA, Durban, and CapeTown; regional â&#x20AC;&#x201C; Mauritius and international: Hong Kong, UK, Perth, and SĂŁo Paulo. â&#x20AC;&#x153;We were also fortunate to have had our new Airbus A330-300 audited this year amongst our aircraft ďŹ&#x201A;eet. The A330-300s are state-of-the-art aircraft and the latest acquisition in our ďŹ&#x201A;eet,â&#x20AC;? said Tlali.

The Skytrax 4-Star ranking is a seal of quality approval awarded to airlines supplying good quality performance across a range of product and service-delivery rating areas. Skytrax assessed the rating after detailed product and service standards audits for each featured airline and not connected to any customer ratings.

A 4-Star Airline rating signiďŹ es airlines providing a good standard of product and staďŹ&#x20AC; service across all travel categories, including cabin seating, safety standards, cabin cleanliness, comfort amenities, catering, tax-free sales, reading materials, in-ďŹ&#x201A;ight entertainment, and staďŹ&#x20AC; service.

Skytrax, an independent, global airline-rating organisation, awarded the 4-Star rating placing the airline amongst other international and partner airlines. SAA has maintained quality levels throughout what has been another challenging year for the airline, delivering an excellent product and service standards to our customers, making this 4-Star Airline ranking well deserved.

Skytrax commented: â&#x20AC;&#x153;The South African Airways product and service standards continue to perform at a standard that is meeting 4-Star levels and this applies to long-haul, regional, and domestic ďŹ&#x201A;ights.â&#x20AC;?

Southwest Flight Cancelation Continues

Southwest Airlines expects more ďŹ&#x201A;ight cancellations this week as it continues inspections of Boeing 737 engines of the type involved in last weekâ&#x20AC;&#x2122;s fatal incident.

Airwise.com reported that the Dallas-based low cost carrier cancelled â&#x20AC;&#x153;about 40 ďŹ&#x201A;ightsâ&#x20AC;? on Sunday and over a hundred Monday out of a schedule of 4,000 daily ďŹ&#x201A;ights, as it works through the inspections of fan blades on older CFM56-7B engines.

Southwest said it was on track to inspect all fan blades on its Boeing 737-700 and -800 ďŹ&#x201A;eets within 30 days, but despite using spare aircraft during the day and doing inspections overnight, there will be further cancellations. It expects one to two percent of its ďŹ&#x201A;ights to be aďŹ&#x20AC;ected each day. Two percent would mean around 80 daily cancellations.

â&#x20AC;&#x153;Airport operators all over the world want to give passengers good experience when they pass through their airportâ&#x20AC;?

CEO of Aero Contractors

Captain Ado Sanusi

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BUSINESSWORLD NIGERIA MAY NEED $50BN TO MODERNISE AIRPORT FACILITIES are ways you can look at it.

There is one I call the main infrastructure, the deficiency of infrastructure, meaning physical tarmac, the fingers and all that.

If they are not available it would make it very difficult for airlines to bring more aircraft. If more aircraft are brought it makes it very difficult to position those aircraft for boarding and de-boarding of passengers. If that space is restricted because of lack of development of the airport facilities, it will affect the growth of any airline. â&#x20AC;&#x153;We saw it years back during the introduction of new aircraft into the system by Arik Air then and now by Air Peace that is rapidly growing and expanding.

The infrastructure might not support the expansion rate. As we speak now if we bring five new aircraft the infrastructure will be stretched to a limit. And that is also what airlines look at when they are expanding. â&#x20AC;&#x153;For the airline there would be a lot of questions. Where will I park the airplane? How am I sure it wonâ&#x20AC;&#x2122;t be pushed to an area that it would be scratched or damaged? Also the existing airlines that are operating, the seamless check-in procedure, the processing of their baggage and so on may be compromised,â&#x20AC;?

Sanusi said.

DANGOTE CEMENT EXPORT TO IMPROVE INTRA-ECOWAS TRADE FROM 9% exported to offshore processing facilities.â&#x20AC;?

Compared with other regions of the world, Mhango said trade between African countries is low because several countries export the same goods, unprocessed commodities, which preclude the need to trade with each other. â&#x20AC;&#x153;But things are changing and intra-regional trade is expanding. Most of the expansion in intra-SSA trade happened in the 1980s and 1990s. It flatlined in the 2000s â&#x20AC;&#x201C; at 15 per cent in SSA; this we attribute to the surge in Chinese demand for commodities which dwarfed intra-regional trade. The expansion of intra-SSA trade resumed after the global financial crisis, as global trade slowed. SADC drove most of the expansion in intra-SSA.

Group Business Editor

NEWS

NCAA Orders Airlines to Comply with FAA Directive over Southwest Flight 1380 Accident Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has issued an All Operators Letter (AOL) 070 requiring mandatory compliance with the United States Federal Aviation Administration (FAA) Emergency Airworthiness Directive by all operators in Nigeria forthwith.

The directive concerns the accident involving Southwest Airlines Flight 1380 in which one of the twin-engine Boeing 737-700 exploded and damaged the fuselage of the aircraft.

The accident caused the death of one out of 144 passengers and five crew in the US last week.

The AOL from NCAA, which was endorsed by Kayode Ajiboye on behalf of Director General NCAA, Capt Muhtar Usman, dated April 23, 2018 addressed to all airlines and aircraft owners is for immediate compliance.

NCAA said the issuance was an aftermath of a recent incident involving a South West Airlines (American Carrier) in which one of its engine exploded mid-air and the attendant Airworthiness Directives issued by FAA. A statement signed by NCAA spokesman, Sam Adurogboye said upon the receipt of FAA Emergency Airworthiness Directive AD 2018-09-51, the

Authority swung into action by carrying out a review on all the airlines to determine the operators of aircraft type with CFM56-7B engines that are essentially affected by the circular. â&#x20AC;&#x153;It was established that only

two operators have the aircraft type in question in their fleet but the good news is that they are yet to reach the 30,000 cycles to which the Emergency AD requires immediate ultrasonic inspection of the fan blades within 20 days.

â&#x20AC;&#x153;However the Authority went ahead to notify all the Nigerian operators about this development to enable them carry out the required inspection when it is eventually due. â&#x20AC;&#x153;Nigeria air travellers are assured that the Authority will

continue to enforce compliance with Safety Regulations at all times for a safer aviation and any violations will be treated in line with the provisions of the Nigerian Civil Aviation Regulations (NCARs)â&#x20AC;?, the statement read.

CONGRATULATIONS

L-R: Communications Manager, Dana Air, Kingsley Ezenwa, Dana Air/ Heartland Player of the Month of March, Marcel Obioha and the Chairman of Heartland FC of Imo state, GoodFaith Chibuor Etuemena, during the presentation of cheque of 200,000 to the Heartland player as part of Dana Airâ&#x20AC;&#x2122;s sponsorship of the team

Dakuku Charges Nigerians on Sustainable Use of Ocean Resources Eromosele Abiodun The Nigerian Maritime Administration and Safety Agency (NIMASA) has inaugurated Marine Litter Marshals to assist it in ridding the oceans of unwanted waste materials that could cause environmental degradation and also impede safety of navigation on the nationâ&#x20AC;&#x2122;s territorial waters.

Speaking during the flag-off ceremony of the first phase with 120 marshals held at the Nigerian Maritime Resource Development Centre in Lagos, the Director General of NIMASA, Dr. Dakuku Peterside charged Nigerians on the sustainable use of the ocean resources and added that there are so many activities dependent on the ocean; hence the need to ensure it is clean and properly utilised.

Accordingly, Peterside said: â&#x20AC;&#x153;The state of health of the ocean is related to the state of our health and our economy; therefore we must stop the indiscriminate dumping of materials in our ocean. NIMASA as the agency of government responsible for Marine Environment Management in its continuous quest to reposition the Nigerian maritime sector in line with global best practices has taken the step to engage some young Nigerians as marine litter marshals who are expected to ensure that the oceans are kept clean and safe.â&#x20AC;?

He further stated that, marine litter directly impacts on ocean life, marine habitats, human health, and navigational safety with potential impacts on socio-economic development of nations.

This, he stressed, necessitated

the agency to collaborate with the United Nations Environment Program (UNEP) Global Partnership Action (GPA) in 2015 to carry out a scientific study on marine litter challenge in Nigeria, thereby culminating to the development of the national action plan on marine litter and its campaign concept.

Peterside, who used the opportunity to charge the marshals to go to the ports, coastlines and littoral communities and enlighten them on the need to maintain cleaner oceans; enjoined them to also keep watch and ensure that the right thing is done so that our eco system can be preserved. He further warned that the Agency will not condone indiscriminate dumping of waste at sea.

Also speaking at the event was a marine environment expert and the President of

the Waste Management Society of Nigeria, Professor Osinbajo Oladele, who applauded the initiative and described the agency as a beacon of hope to the rest of Africa.

He said there is the need to preserve our oceans as it holds a lot of opportunities in developing the nation.

He stated further that there is the need for inter-generational equity of our resources, which means the survival of the eco system is dependent on this present generation as it will affect the future generation. â&#x20AC;&#x153;The environment is not a gift from our parents, but a loan from our children. We must therefore do all we can to preserve it. The Convention on the Prevention of Marine Pollution by Dumping of Wastes and Other Matter 1972, commonly called the â&#x20AC;&#x153;London Conventionâ&#x20AC;? and also abbrevi-

ated as Marine Dumping, is an agreement to control pollution of the sea by dumping and to encourage regional agreements supplementary to the Convention. It covers the deliberate disposal at sea of wastes or other matter from vessels, aircraft, and platforms. â&#x20AC;&#x153;According to global statistics, roughly 80 per cent of marine pollution originates on land. To address this, strong coordinated action is needed. UN have championed a course for the Global Programme of Action for the Protection of the Marine Environment from Land-based activities, which NIMASA has also keyed into in order to establish and strengthen voluntary and a multi-stakeholder partnerships on nutrient pollution, marine litter and water wastes, â&#x20AC;&#x153;he said.

Apapa Gridlock: NPA, Navy Ban Return of Empty Containers to Seaports

Ă&#x2019;Ă&#x201C;Ă&#x2022;Ă&#x2039; Ă&#x2014;Ă&#x2039;Ă&#x2DC;äĂ?Ě&#x2039; ĂĄĂ&#x2039;Ă?Ă&#x2019;Ă&#x;Ă&#x2022;Ă&#x; AgriBusiness/Industry Editor

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Ă&#x2014;Ă&#x2014;Ă&#x2039; Ă&#x2022;Ă&#x2122;Ă&#x2DC;Ă&#x201D;Ă&#x201C; Capital Market Editor

Ă&#x2122;Ă&#x17D;Ă&#x17D;ĂŁ Ă&#x2018;Ă?Ă&#x2DC;Ă?

Senior Correspondent

Ă&#x2039;Ă&#x2019;Ă?Ă?Ă&#x2014; Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă&#x152;Ă&#x2122;Ă&#x2013;Ă&#x; (Advertising) Correspondents

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Eromosele Abiodun In a bid to permanently resolve the Apapa gridlock, the Nigerian Ports Authority (NPA) and the Nigerian Navy have adopted two-prong measures, one of which is the ban on return of empty containers to the nationâ&#x20AC;&#x2122;s seaports after being cleared.

This is just as the Nigerian Navy has introduced a card call up system for trucks; a move it said will bring orderliness to the area. In separate news briefings, the Traffic Manager, Lagos Ports Complex, Mr. Victor Oginni told journalists at the end of a tour of the portsâ&#x20AC;&#x2122; access roads that NPA management

has henceforth, banned agents from returning empty containers to the nationâ&#x20AC;&#x2122;s seaports after being cleared. Rather, he stressed that the empty containers will henceforth be delivered directly to each shipping companyâ&#x20AC;&#x2122;s holding bay, outside the ports. â&#x20AC;&#x153;This directive, which is to enable the NPA and other stakeholders effectively manage the traffic situation around Apapa area of Lagos, has also transferred the responsibility of managing the empty containers to the shipping companies. â&#x20AC;&#x153;With this directive, shipping companies are expected to have holding bays where their empty containers could be kept while

waiting to be taken into the terminalsâ&#x20AC;?, Oginni explained, stressing that this will certainly eliminate the gridlock being presently witnessed in Apapa.

He added: â&#x20AC;&#x153;Many of the shipping companies have no holding bays outside the seaports; and they may have to make use of rented holding bays to put their containers.

With this directive, shipping companies must keep their empty containers in their holding bays outside the port location, pending the time for vessel loading. The era of free money for shipping companies is gone. Agents will no longer have to forfeit their money to shipping companies as they

will return empties in due time. This is what shipping companies are avoiding.â&#x20AC;?

Ogini also confirmed that there was an existing relationship between the port and the Nigerian Navy. â&#x20AC;&#x153;We have been enjoying this collaboration from the Navy, Police, LASTMA and the truck owners. These are the people, who have been collaborating with us and the result is what we are seeing,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said.

Meanwhile, the Nigerian Navy in furtherance of the same objectives has introduced a call up card system for trucks that have business to do at the ports.

The Commanding Officer,

Nigerian Navy Ship (NNS) BEECROFT, Commodore Okon Eyo, disclosed this to journalists at a news conference at the Naval Base in Apapa, Lagos.

He said that the call up card system only allows trucks that have business inside the ports, while those without call up cards would be turned back at the foot of the bridge.

Specifically, he said: â&#x20AC;&#x153;What we have done was to design call up card. Every morning, we ask them to bring the particulars of the trucks and we endorse the cards and give it to them.

This will distinguish them from those who are not supposed to move, who should wait for normal clearance to proceed.

21

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BUSINESSWORLD

NEWS

Baru, Orjiako, Peterside to Discuss Future of Nigerian Oil and Gas Sector at OTC The Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, Managing Director, Nigerian Liquefied Natural Gas, Mr. Tony Attah and Chairman, Seplat Petroleum Development Company, Dr. A B C Orjiako are among the oil and gas industry experts to speak at this year’s Offshore Technology Conference (OTC) holding at Houston, Texas from April 30 to May 3, 2018.

The Petroleum Technology Association of Nigeria (PETAN) has been organising and hosting the Nigerian pavilion at the OTC, Houston, Texas since 2005.

The OTC is the premier gathering of professionals and opinion leaders in the global oil and gas industry, and it provides excellent opportunities for positive portrayal and promotion of the great potentials of Nigeria and the Nigerian oil and gas industry.

It also provides a unique platform for close interactions with leading international and major Nigerian oil service companies, indigenous oil companies, industry executives, government policy makers and political leaders, to share ideas on improving the Nigerian oil

industry.

PETAN member companies and many other indigenous oil service companies will be part of a robust contingent, to showcase the dynamism and potentials of Nigeria’s Petroleum Industry.

About 2,500 professionals and industry leaders from Nigeria and beyond her shore will attend this year’s event.

PETAN Publicity Secretary, Ranti Omole said in a statement that the key highlights of OTC 2018 are; 50 years of OTC: Programming which reflects on our history, the current state of the industry, and what is on the horizon; Faster deployment of new technologies: Solutions to reduce the development timeline and create project-ready technologies which meet current industry challenges; Cost reducing tools and techniques: Ways to decrease costs and improve overall value, while maintaining high standards for safety, operationability, and reliability; Integrating to innovate: How advanced software, nanotechnology, and the digital revolution are integrating disciplines and triggering an historic transformation in the offshore energy sector; Meeting global demand:

Meeting the energy needs of fast-growing economies, while reducing carbon emissions and carefully considering the impact of digital technology; Update on world-class projects: The latest on landmark projects which have resulted in breakthrough technologies in a low oil price environment; Global participation: Executives from service companies and operators, including IOCs and NOCs, share accomplishments from projects in Canada, Malaysia, the Gulf of Mexico, and the North Sea. According to the statement, PETAN is also organising a workshop titled; Oil & Gas Industry in Africa: Prospect, Challenges and Opportunities for Regional Collaborations for Wednesday, 2nd of May, 2018. The panelists include Director General, NIMASA, Dr. Dakuku Peterside, Managing Director, SNEPCO, Mr. Bayo Ojulari, Managing Director, Eroton E&P, Mr. Ebiaho Emafo, Vice President, Aiteo Group, Mr. Victor Okoronkwo, Mrs Cecilia Umoren, while the Managing Director, Seplat Petroleum Development Company, Mr. Austin Avuru will moderate the session.

Ghana Grants Aero Approval to Maintain Country’s Aircraft Chinedu Eze The Ghana Civil Aviation Authority (GCAA) has given Aero Contractors Authorised Maintenance Organisation (AMO) certification to conduct checks on Boeing B737 Classics.

This means that Aero can conduct maintenance on aircraft registered in Ghana up to Ccheck, as the Nigerian company has said that its goal was to receive such approval from all the countries in West Africa so that the maintenance organisation would now effectively provide service to aircraft in the sub-

region.

“We are happy to announce that Ghana Civil Aviation Authority has given us certification to conduct checks on Boeing B737 Classics up to C-check on their aircraft, which is a major achievement. Now that we are certified by Ghana CAA, we are going to start working with Cameroonian CAA. I said in my speech when we unveiled the first aircraft we conducted checks on that we are going to get the approval of all the countries in West Africa,” Aero Contractors CEO, Captain Ado Sanusi said.

He said that the company has also started moved to also conduct maintenance on Boeing B737 New Generation (NG) aircraft up to the level of B-Check.

“We have also started looking at providing maintenance up to B-check for new generation Boeing aircraft. if we want to do c-check on that line of aircraft it means we are going to get a bigger hangar. We are looking at collaborating with Nigeria Air Force (NAF) and use their hangar for that. What is important is that we have the manpower to do it and we have done it before.

Air Peace to Expand Regional Operations, Reassures on Safety Peace plans to begin the third phase of its regional operations in the next few weeks with the launch of flights to Monrovia, Lome, Abidjan and some other West Coast destinations.

A statement signed by Air Peace Corporate Communications Manager, Mr. Chris Iwarah said the airline was already realising its goal of guaranteeing seamless connectivity on the West Coast of Africa with the launch of its Accra, Ghana; Freetown, Sierra

Leone and Dakar, Senegal flight operations. The plan to add Monrovia, Lome and Abidjan to the airline’s route network, the statement added, was in appreciation of its customers on the West Coast who had reached out to it to expand its regional operations to cover more underserved destinations.

“On February 16, 2017, we launched our Accra, Ghana operations and gave members of the flying public a refreshing

choice of spectacular flight services on the route. Just about a year after our entry into the Accra route, we took another huge step to deepen our West Coast operations with the launch of our Freetown, Banjul and Dakar services on February 19, 2018. “We are deeply grateful that members of the flying public have not only endorsed our regional flight operations with their patronage and loyalty, but are now requesting that we expand our network to cover more

Dana Air Begins Owerri-Abuja Flights May 1 Dana Air has announced plans to introduce Owerri- Abuja –Owerri flights on May 1. The airline said that it is part of its commitment to meet the travel needs of its passengers from Imo state and also to connect every part of Nigeria through seamless air travel.

“This is part of our commitment towards providing

dependable options for the good people of Imo state and ensuring seamless travel for business and leisure travelers,” ‘Dana Air’s Media and Communications Manager, Kingsley Ezenwa said.

Ezenwa said the airline which currently operates over 27 daily flights from Lagos to Abuja, Port Harcourt, Uyo, and Owerri, would operate

flights from the Sam Mbakwe International Airport, Owerri to Abuja and back on Mondays to Fridays and Sundays.

“From May 1, 2018, we will operate one flight from Owerri to Abuja on Mondays to Fridays at 12.33pm and Abuja to Owerri at 2.16pm. On Sundays, Owerri to Abuja flights will be at 5.31pm and Abuja to Owerri at 12.06pm.’’

AIR WATCH Southwest Airlines Flight 1380

CAPTION: NTSB investigators inspect an engine that exploded last week on Southwest Airlines Flight 1380.

Last week, Southwest Airlines Flight 1380 operated by Boeing B737-700 aircraft suffered engine failure, which led to eventual death of one passenger.

One of the two engines of the aircraft was damaged airborne, while traveling from New York to Dallas with 144 passengers and five crew onboard.

The pilot of the flight declared emergency landing and took the airplane to rapid descent and landed successfully in Philadelphia.

According to CNN, as passengers prayed and pondered their last words to loved ones, the pilot in command of the flight, Captain Tammie Jo Shults and First Officer Darren Ellisor had the duty of landing the big injured aircraft safely.

One of the passengers, Jennifer Riordan who was almost sucked out of the airplane after she was fatally injured was pulled back by passengers into the plane but she died in the hospital after the aircraft landed safely. It was the first fatal accident involving a US-based passenger airline since 2009, NTSB said.

After the accident, the US Federal Aviation Administration (FAA) started investigation into the aircraft engine. According to reports, in preliminary briefings, NTSB Chairman, Robert Sumwalt said that inspection of the damaged engine revealed that one of the titanium blades on the big fan had broken off at the root, and that there was evidence of metal fatigue at the site where it broke. He said metal fatigue is a major problem.

Investigations also suggested that the engine, which was built by CPM, might have had that challenge because “the shrapnel damage to the plane’s fuselage and photos of the damage suggest this was a dangerous “uncontained engine failure.” Such incidents occur about three or four times a year worldwide, according to the NTSB. After the accident, signals were sent all over the world for the inspection of the engine type, which is CFM 56-7B, which is fitted in most of Boeing B737-700 New Generation aircraft series.

On Monday, FAA and European Aviation Safety Agency (EASA) issued emergency airworthiness directives requiring operators to inspect fan blades on older CFM56-7B engines within 20 days, airwise.com reported.

The directives applied to CFM International engines of the type that was fitted to the Southwest Airlines Boeing 737-700.

Initial NTSB inspections of the Southwest engine showed a fan blade had detached and there was evidence of metal fatigue in the fractured blade.

Engines with over 30,000 total cycles must complete the inspections within 20 days, the FAA said. The CFM engines subject to the emergency directives number 681 worldwide and 352 in the US.

In Nigeria, the Nigerian Civil Aviation Authority (NCAA) received FAA directive to review the aircraft the same type of aircraft engines fitted on aircraft being operated in Nigeria.

The Director General of NCAA, Captain Muhtar Usman told THISDAY that the agency was reviewing the aircraft being operated by Nigerian airlines to identify those that may have the engine type.

THISDAY investigations disclosed that Arik Air is the only airline that has Boeing B737-700 and has seven of the aircraft type in its fleet.

But inside sources revealed that the engines are relatively newer than the ones being investigated and they neither were near 20 years old nor recorded 30,000 total cycles.

Captain Usman said after the review, if any aircraft engine was affected the NCAA would take appropriate action, dismissing insinuations that some of the aircraft in Air Peace fleet may also have such engine types.

Spokesman of Air Peace, Chris Iwarah said the airline has Boeing 737-300 and 737-500 aircraft, “which had been credited with perfect engine performance”, in its fleet.

The B737-300 and B737-500 aircraft are fitted with a CFM56-3C engine,” he said.

The airline said besides contracting one of the best aircraft maintenance companies in the world, BCT Aviation, to do routine maintenance of its fleet on ground its base in Lagos, it was spending huge foreign exchange to maintain its aircraft in some of the best facilities in the world to ensure that the safety of the flying public was not compromised.

“The FAA directive to airlines which operate aircraft with the same engine with the US carrier to perform ultrasonic inspection on the engines installed on NG B737-700 does not extend to engines installed on the classic aircraft, which we have in our fleet. Besides, our aircraft are maintained in accordance with the approved maintenance programme and manufacturer maintenance document,” Air Peace said.

NTSB said there is need to check the engine type because similar incident happened in 2016, although there was no loss of lives, but the plane made an emergency landing in Pensacola, Florida. The FAAresponded 10 months later with a recommendation that airlines use ultrasound to inspect their engine fan blades. Though most airlines have complied with that counsel, the agency thought the matter significantly urgent that it has begun the laborious federal process to mandate that every airline carry out the inspections.

By the time FAA concludes its findings on the engine type, it may likely direct that such engines should be suspended from use and this would cost airlines huge resources replacing the engines. Meanwhile, southwest Airlines flights are disrupted due to the ongoing findings.

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Non-aeronautical Revenue Key toViable Airports in Nigeria Many successful airports in the world depend more on non-aeronautical revenue sources arising from modern facilities and the provision of services that draw both travellers and non-travellers to the airports. Chinedu Eze writes that improving nonaeronautical revenue channels could bring financial vitality to many airports in Nigeria Industry observers describe Nigeria as a lucky country because it has many airports and considering the pivotal role airports play in economic development of any nation, it is said that Nigeria is already well positioned to benefit from the aviation industry.

But currently, many Nigerian airports are a burden to the Federal Airports Authority of Nigeria (FAAN), which rely on the huge revenues generated by few busy ones to maintain and sustain the unviable ones.

THISDAY learnt that out of the 22 airports managed by FAAN, only about six generate revenues that could fund their maintenance.

This is so because these airports depend on the number of flights that operate from them to make aeronautical revenue. Many of these airports record as few as one or two flights daily so they generate very poor revenue.

Aeronautical revenue is generated largely from the airline, which include passenger service charge, landing and parking and use of airport facilities, including rentals, power and other services. So the revenue is dependent on provision of services by the airport management to airlines.

Non-aeronautical revenues come from money largely spent by passengers and other airport users at the airports. These also include the earnings from service providers who meet the need of passengers and others at the airport.

So non-aeronautical revenues are such revenues that accrue from non-airline services such as parking and landing charges, fuel surcharge, baggage taxes and others that relate to passengers but include revenues generated from businesses around the airport, advertising and establishment of rendezvous where people meet, eat and drink and enjoy other services.

Industry experts say that in many successful airports in different parts of the world, nonaeronautical revenues constitute over 70 percent of their overall revenue base, which it is still less than 30 per cent in many Nigeria airports.

FAANâ&#x20AC;&#x2122;s Revenue Sources About three years ago, FAAN earned about N2 billion from aeronautical sources and N3.5 billion from non-aeronautical sources monthly from the Murtala Muhammed International Airport, Lagos, which is its most viable airport.

This amounted to N30 billion annually. The total revenue it earned from other airports was put at N15 billion which totalled N45 billion per annum. That was in 2015.

In 2016, which was the height of economic recession that hit Nigeria during the crash of oil price in the international market, FAAN earned about the same amount of revenue, as industry observers noted that the agency has not been able to boost its revenue because it has left the non-aeronautical sources largely underdeveloped and underutilised.

THISDAY learnd that it is only at the Lagos airport that FAAN earns more revenue from non-aeronautical sources, but in some airports, such sources do not exist at all and that the reasons non-aeronautical revenue is high in Lagos is due to concessions to business and service providers.

A source from the agency told THISDAY that Lagos airport alone could generate N100 billion annually for FAAN if strict measures are put in place to block all loopholes and if non-aeronautical revenues are fully exploited.

These measures include the automation of every process that generates revenues for the agency in all the airports under its management. â&#x20AC;&#x153;First, FAAN has to capture the data of revenue potential which will determine the amount of revenues to expect. It will have to ensure that there is transparency, which means that every amount of money generated is captured; then it will have to streamline

MMIA

all its activities so that at a glance everyone will have the picture of what is generated.

Then it has to fully exploit non-aeronautical revenues sources, which can add at least 35 per cent increase to the current revenueâ&#x20AC;?, an inside source told THISDAY.

Other Airports Industry observers are of the view that other airports in the country, besides the Murtala Muhammed International Airport, Lagos could be made to generate revenues from entertainment, meeters and greeters by establishing shopping malls, restaurants, cinemas, even night clubs and transit lodgings. The airport authority would collect rentals and charges from them.

This is because some of these are airports are strategically located and as facility for air travel it attracts more people.

The Director General of Airport Council International (ACI) World, Angela Gittens told THISDAY that it is better that airport managers develop non-aeronautical revenue sources more so that their source of revenue would not be dependent on flight movement to the airport, so that the airport could survive at all times, not depending on flight movement. â&#x20AC;&#x153;I will say it is best to increase non-aeronautical revenue so you have more diversification in case something goes wrong. Because you canâ&#x20AC;&#x2122;t always depend on aeronautical revenue because the airlines can change their mind and you donâ&#x20AC;&#x2122;t have complete control over how much you could charge. In any case, it is only cost; so the best you can do is cost, whereas with non-aeronautical revenue you can make a profit.

Modern Airport Facilities The CEO of Aglow Limited, an aviation support services company, Tayo Ojuri once explained to THISDAY that building facilities to meet the peopleâ&#x20AC;&#x2122;s need is a way to attract people to the airport and create avenues for non-aeronautical revenue. â&#x20AC;&#x153;There are a lot of ways to develop nonaeronautical revenue, if you look at what that market needs. When you realise what your market needsâ&#x20AC;Ś I will give you a typical example, look at MMA2 (domestic terminal of the Murtala Muhammed Airport, Lagos), MM2 has realised the demography, they have restaurants, they have supermarkets, they have revitalised car park, they have opportunity to make even a night club or other things on top

of that car park, like an event center. â&#x20AC;&#x153;The other part of it, you see a lot of advertisements; the airport has a lot of captive audience. Advertising is huge there; they have been able to optimise that; even their towing of vehicles. You have Kia Motors coming to showcase and change their cars every day; you have Nigerian Breweries Limited come there every Friday to setup, so the terminal is being creative,â&#x20AC;? Ojuri said.

He noted that if the operator has an airport loyalty programme with a touch of technology, including wifi as most of the people that travel have smart phones, they would be attracted to the airport. â&#x20AC;&#x153;If you do a comparative analysis between MMA2 and GAT (General Aviation Terminal) at the Lagos airport, you will realise that MMA2 has actually made use of all the facilities and there is still room for more business. Those are the things you see and they are actually bringing value to the system and that is why you find out that MMA2 over time is being considered the best airport terminal in terms of facilitation because they have added value to the system. So that is how you can build ancillary revenues,â&#x20AC;? Ojuri added.

Attracting non-ďŹ&#x201A;ying Public to the Airport Managing Director, Dufry Africa, a global travel retailer, Isabel Zarza disclosed during the recent ACI Africa meeting held in Lagos, what attracts non-flying public to the airports.

She said most airports in Africa are yet to develop such attractions unlike in other developed regions, noting that many governments in Africa still see airports as place solely made for travelling. â&#x20AC;&#x153;In Africa this is very difficult because most African countries do not allow non-flyers to enter into the airport. In Europe and in other countries you are able to enter. There are also countries in Africa where you can enter into the airport as non-flyers but most of them, you cannot. You cannot make an offer attractive for people who are not going to fly. In Europe, you have that mostly on the arrivals because when you fly and depart, you want to go but when you arrive, you have meeters and greeters and people who go to meet their relatives. So, that is where you can have convenience shops where you see newspapers and flowers,â&#x20AC;? Zarza said.

She remarked that as a result of this non-

aeronautical revenue in all African countries is reduced compared to what it is in Europe. â&#x20AC;&#x153;In Europe, we are arriving 30 to 40 percent of non- aeronautical revenues as against aeronautical revenues. In Africa, we are below 20 percent.

The reason for this is that retail is not yet well developed. We need to invest in this part of retail. It is important to develop retail is African countries. There are new terminals that are being built in Nigeria. We need to work with Federal Airports Authority of Nigeria, (FAAN) to build the perfect shops in the new terminals.

On how the airports could be modernised to attract non-aeronautical revenue, she said that airports are looking at increasing the non- aeronautical revenues because that is the way they can increase the plane tickets and increase the number of passengers. â&#x20AC;&#x153;The way they can do it is to have duty free walk through shops. This means that in order to arrive to the gate, you need to go through the shops. It will also be important for us to have only one entrance.

For example, in Nigeria currently, you have two entrances to the airport. This means you are dividing passengers and cannot attract them to the same offering. You need to duplicate the offering and that is not convenient. So, if you have one only entrance with one walk through shop, it will be much better because revenue will increase for everyone.

Investing in Airports

FAAN is calling for investment in airport to boost its non-aeronautical revenue. It wants private sector investment in infrastructural facilities like the construction and management of hangar facilities and well as fixed base operations (FBOs), construction and management of hospitality facilities, including but not limited to hotels; construction and management of automated car parks, development of terminal buildings, construction of runways, taxiways and aprons; construction and management of helipads and construction and management of independent power plants (IPPs) and aviation fuel deposit facility. Also for perishable agri-produce, FAAN is inviting for the construction and management of cargo air services for perishable agricultural produce.

The managing director of the agency, Saleh Dunoma explained to THISDAY that for third party businesses, FAAN provides land spaces or developed aviation and non-aeronautical facilities, under appropriate business and financial arrangements, in line with the agencyâ&#x20AC;&#x2122;s commercial and investment policy guidelines for leases and rentals. â&#x20AC;&#x153;In the interest of transparency, FAAN advertises all commercial concessions and infrastructural facilities and calls for bids for such concession/ facilities from local and international investors,â&#x20AC;?

Dunoma said.

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Confronting Smuggling Along Seme Border Eromosele Abiodun examines the efforts of the Nigerian Custom Service, Seme Command, to rid the border of smugglers At the 2016 Comptroller General Annual Conference and Stakeholdersâ&#x20AC;&#x2122; Interactive Forum in Lafia, Nasarawa State, the Comptroller General of the Nigerian Immigration Service (NIS), Mr. Martin Kure Abeshi disclosed that of about the 1, 500 identified land border crossings into Nigeria, only 114, covering about 4,000 square kilometres, had approved control posts manned by immigration officials and other security agencies.

According to him, over 1,400 illegal routes are not manned, stressing that â&#x20AC;&#x153;this has grave security implications for the country.â&#x20AC;?

He said NISâ&#x20AC;&#x2122;s approximately 23, 000 staff strength was grossly inadequate for the task of policing Nigeriaâ&#x20AC;&#x2122;s vast borders.

Nigeria has international land borders of about 4,470 kilometres (2,513 miles) with Chad, Cameroon, Benin, and Niger, and a coastline of 774 kilometres (480 miles), which are largely unmanned. Among the manned borders, there are some considered to be very important to the country in terms of their contribution to the Nigerian economy. One of them is the Seme border.

This border over the years is a household name and considered to be the only international land border that contributes substantially to the countryâ&#x20AC;&#x2122;s socio-economic development. These historical facts are corroborated by the statistical documentation of economic activities that have thrived through the Lagos-Abidjan corridor both in terms of human and vehicular movements.

Being a renowned border that links most of the West African countries within the sub-region, and its pivotal role in the economic development of Nigeria and West Africa at large, it is a known fact that the corridor has attracted both legitimate international and local travellers across the frontier, this international attraction is also accompanied with its dare consequences of illicit and illegal activities like smuggling, drug trafficking, human immigration/trafficking, terrorism and money laundering amongst others.

Unfortunately, Seme border, which is an approved international route was known and seen over the years by the public for its negative trans-border crimes than the legitimate means of trade transaction, movement of people and the link it has with other West African Countries.

Global Customs Administration Globally, the Customs Administration of any member country coordinated by the World Customs Organisation (WCO) is strategically deployed to the seaport, airport and land borders of all member countries as an institution to execute its mandates (revenue generation, suppression of smuggling and trade facilitation among others) of which Nigeria is not an exception.

As a global phenomenon where customs are the custodians of all the entry points to a country, the international designation has led to the Customs Administration of each member country playing leading role when it comes to the management of all the entry points, especially in terms of their statutory responsibilities.

This, experts believe, has caused the misguided perception of some averagely enlightened and the ignorant within the public domain, that all activities and other engagements emanating from the entry points be it legal or illegal are orchestrated by the Nigerian Customs Service (NCS).

The same negative perception about the service has eroded the public mindset over Seme border not minding the fact that an efficient border management is a factor of effective collaboration with all the relevant border security agencies of any country, hence despite the leading role of the customs at any seaport, airports or land borders, they canâ&#x20AC;&#x2122;t operate in isolation.

New Dawn While the public perception of the NCS continues to overshadow the genuine effort of some officers of service, it is important to note that some have continued to do what is needful, hoping that someday their efforts will paint the service in a good light. One of such persons is the Customs Area Controller of Seme Command, Compt. Mohammed Aliyu who observers said

Customs OďŹ&#x192;cers Showcasing sized goods

seem to be operating in strict adherence to the reform agenda of the Comptroller General of Customs, COL. Ibrahim Hammed Ali (rtd.).

This, they said, was evident as his operational strategies were determinedly within the service mandate with the nationâ&#x20AC;&#x2122;s security in mind.

An official of the Seme Command, who do not want his name in print, said the command has also succeeded in stemming the impunity and the flagrant abuse of the federal government policies by ardent smugglers, who used to operate at the border with dexterity and reckless abandon at the risk of officers lives.

According to him, well-known travellers through the corridor will bear witness to the fact that smuggling is being confronted head long and there is no room for impunity in illegalities among saboteurs at Seme route now. â&#x20AC;&#x153;The total and aggressive compliance level in the enforcement of relevant government policies is a thing of admiration in the command as seizures of different contrabands are reeled in to the warehouse in a perpetual manner. These exceptional performances within the country are felt in other countries as the commandâ&#x20AC;&#x2122;s collaborative effort within the sub-region wax stronger daily.

The synergy has yielded an unprecedented feat in the arrest of many items including over fifty stolen exotic cars at Republic of Cote dâ&#x20AC;&#x2122;Ivoire under the Interpol collaboration. â&#x20AC;&#x153;If this performance could necessitate a commendation letter from the Cote dâ&#x20AC;&#x2122;Ivoire government to the Comptroller General of Customs as a way of appreciating the synergy at the regional level to rid of cross-border crimes, It is worthy of note that the Nigeria Customs Service is undergoing a positive metamorphosis that deserves the commendations of its citizenry than mere criticism born out of selfish reasons from the Nigerian public,â&#x20AC;? he stated.

Gathering ClassiďŹ ed Intelligence The official added that the command was always gathering classified intelligence on the berthing of some consignments in the neighbouring countries that are prohibited and restricted into Nigeria, and targeting Nigeria as her final destination.

He said: â&#x20AC;&#x153;Our strategies to work on such information are only disclosed when the information are effectively treated. The command therefore remains resolute in the enforcement of the federal government policies across the frontier. The surveillance of the command over the year has led to the arrest of over 32,000 bags of smuggled rice with a duty paid value of over N530 million attest to the commandâ&#x20AC;&#x2122;s uncompromising stand to working in conformity to the current reforms of the CGC. â&#x20AC;&#x153;As a revenue generating institution of the federal government, the border command apart from enforcing government fiscal policies has generated the sum of N1.57 billion into the federal government coffers, which represent 78 per cent

of the monthly revenue target allocated to the command from January to March this year. The command has also made a total of 270 seizures with a duty paid value of N235.64 million for the same period under review.â&#x20AC;?

Despite the success at riding the Seme border of smugglers, stakeholders believe changing the public perception towards its workforce is a task the present leadership is instilling among its officers and in the modus operandi of the service to comply with international best practice, considering the fact that the corridor is a gateway to the most populated black country in Africa, hence the need for international travellers to be treated with dignity, high degree of respect, transparency and professionalism.

However, the official told THISDAY that the NCS, Seme Command was conscious of this fact which has guided the way officers are deployed, to be strictly dependent on the training experience of the officers in order to curb with the public domain â&#x20AC;&#x153;An average traveller is therefore expected to meet with an enlightened customs officer along the Lagos-Abidjan corridor who is expected to be exemplary in discipline, approach and human relationship, this is because every trained officer is expected to be an embodiment of all the seven operational golden Cs that will help him to be articulate in courtesy and responsible while on duty. â&#x20AC;&#x153;It is therefore, not out of place to say, Seme border in the eye of the public is undergoing a positive metamorphosis despite the fact that often times few recalcitrant officers are always seen among the committed and patriotic ones.

The NCS, Seme Command made bold to say that discipline permeate the highway among its officers now, while cross border crimes is abhorred among officers who are ready to do the right thing. â&#x20AC;&#x153;We therefore enjoin the public to change their perception as the approved border is meant for legitimate trade and not smuggling activities. We enjoined Nigerians who know their right and are not smugglers to challenge that officer who is seen doing the wrong thing, as this will not only be a collaborative effort but also help the Service to fight smuggling along the international route through Seme border,â&#x20AC;? he stressed.

Ending Smuggling To put an end to the menace of smuggling, the Seme Area Command in recent times has engaged in a renewed effort of aggressive anti-smuggling operation there by tightening the land border against smuggling activities.

The command is deploying all necessary tools to ensure that the core mandate of the service (revenue generation, facilitation of legitimate trade and suppression of smuggling) amongst others is vigorously achieved. This is because actualising the functions of revenue generation and legitimate trade facilitation depends solely

on how smuggling activities are aggressively suppressed to the barest minimum.

It is against this backdrop that the anti-smuggling unit of the command has intensified its operations in order to curb the menace of trans-border crimes (smuggling) and other vices.

The ongoing aggressive patrol by the antismuggling operation unit of illegal routes and flanks of the border is yielding tremendous results, and has translated into the seizure of numerous items.

Fiscal Policies Commenting on the items seized, Aliyu disclosed that combating smuggling was a major responsibility that the Nigeria Customs Service is saddled with, and as such, compliance with federal government fiscal policies is not an option to an institution that is bestowed with such enormous responsibilities.

He further stated that officers are adequately motivated and re-oriented to execute their functions creditably and discretionally without compromise.

Aliyu further reiterated that in order to key into the presidential mandate (reform, restructure and revenue generation), smuggling activities have to be confronted headlong in order to prevent revenue leakages. This reality has necessitated the proactive approach of the enforcement unit to ensure smuggling activities is maximally suppressed in order to enhance and boost revenue generation.

The commandâ&#x20AC;&#x2122;s helmsman while showcasing the seizures made, charged all officers and men to maintain the tempo in combating smuggling activities across the frontier.

He added that though the drastic reduction of economic activities through the corridor has impacted negatively on the revenue profile of the command. â&#x20AC;&#x153;The Command remains undaunted in ensuring that smuggling is suppressed to its barest minimum. The seized items include the followings: 3200 x 50KG bags of rice, 1000 cartons of frozen poultry products which has since been destroyed in accordance with the extant laws,720x25 jerry cans of vegetable oil and 57 bales of second hand clothing, with a total duty paid value of fifty four million, four hundred and sixty five thousand naira only (N 54, 465, 000.00),â&#x20AC;?he said.

The Comptroller used the opportunity to call on all concerned Nigerians, stakeholders and other relevant agencies at the borders to help the service in giving credible intelligence for all kinds of trans-border crimes to be nib in the bud.

He reiterated that the NCS Seme command would continue to protect the Nigerian economy by ensuring that our local industries were protected to give employment opportunities to the teaming population of our unemployed youths.

He further stated that this could only be achieved by ensuring that the fiscal policies of the federal government were fully enforced.

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Ͱ͵˜ ͰͮͯͶ

T H I S D AY ˾ FRIDAY APRIL 27, 2018

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Women As Drivers of Innovation and Creativity

Nuru Alabi The 2018 commemoration of World Intellectual Property Day held on April 26, 2018.

The World Intellectual Property Day (WIPD) is celebrated annually to focus on the role of intellectual property rights in driving innovation and creativity, across the world. The World Intellectual Property Organization (WIPO), which established WIPD in 2000, says its goal is to â&#x20AC;&#x153;raise awareness of how patents, copyright, trademarks and designs impact on daily lifeâ&#x20AC;? and â&#x20AC;&#x153;to celebrate creativity, and the contribution made by creators and innovators to the development of societies across the globe.â&#x20AC;?

This yearâ&#x20AC;&#x2122;s theme was â&#x20AC;&#x153;Powering Change: Women in Innovation and Creativity.â&#x20AC;? In different fora around the world, attention focused on how the world can utilize the instrumentality of intellectual property to unleash the creative energy of womenfolk in driving human progress.

Women, even if uncelebrated, are rolling out creative inventions that are positively impacting lives worldwide and advancing human knowledge and development.

In diverse fields in the sciences, arts and humanities, women are pushing the frontiers of creativity and innovation.

While many of such women stand out and have been duly accorded their places in the history books, one or two such women perhaps bear recounting here.

The story of Helena Rubinstein, for instance, is quite inspiring. A PolishAmerican businesswoman, Rubinstein revolutionized the world of cosmetics and created the first publicly-listed global cosmetics corporation, Helena Rubinstein Incorporated. She established the band Crème Valaze and protected the trade mark with its registration in January 1907. She built an empire and is today regarded as the first self-made millionaire of modern times. Her im-

mense success would have been impossible were it not for the role of Intellectual Property Law. Nigeria boasts of a long list of women who are making bold statements in entrepreneurship, innovation and creativity. Nigerian-born lawyer, Tara Fela-Durotoye, is today Africaâ&#x20AC;&#x2122;s leading beauty and makeup entrepreneur. Having established the House of Tara way back in 1998, she subsequently launched the first ever bridal directory in Nigeria in 1999, and followed up with the countryâ&#x20AC;&#x2122;s foremost beauty academy in 2004. Well before she established EbonyLife TV, Mo Abudu had emerged the most renowned media personality and talk show host in Africa. Her talk show programme, â&#x20AC;&#x2DC;Moments with Moâ&#x20AC;&#x2122;, was a go-to platform for a wide spectrum of eminent people in different fields from across the world.

Once described as Africaâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;Most Successful Womanâ&#x20AC;&#x2122; by Forbes, Abudu today uses EbonyLife TV to beam the African narrative to the world, with astonishing success. SecureID is today a globally respected brand in the field of smart card technology and digital security. SecureID Nigeria Limited was founded by Kofo Akinkugbe in demonstration of creativity by women.

Underpinning this yearâ&#x20AC;&#x2122;s theme of the World Intellectual Property Day, therefore, is the imperative of ensuring that the latent intellectual capital in women is strategically nurtured and harvested for the good of humanity.

Incidentally, a good number of organizations in Nigeria, seem to be increasingly buying into the global drive to enhance equal opportunity in the workplace as a critical step towards engendering a more productive workforce, that runs on the back of diversity and its associated spin-offs including creativity and innovativeness. Job advertisements for many international organizations in Nigeria for instance, boldly inform prospective candidates that they are â&#x20AC;&#x153;equal opportunity employersâ&#x20AC;? and that â&#x20AC;&#x153;women are strongly

encouraged to applyâ&#x20AC;?. This predilection is common among international multilateral agencies such as the USAID and DFID, but is also being quickly adopted by many other organizations.

Notable among these organizations are MTN, British American Tobacco (BAT), Guinness Nigeria Plc, Stanbic IBTC Holdings Plc and Johnson and Johnson, who have embedded in their operational ethos an elaborate policy that seeks to enhance inclusion, gender equality, cultural diversity and empowerment of women.

At MTN Nigeria, there is no glass ceiling of any sort as every employee has the opportunity of reaching the summit of the organization. For the womenfolk, their presence at the top is exemplary in driving attainment of the companyâ&#x20AC;&#x2122;s goals.

Among them are Chief Enterprise Business Officer, Lynda Saint-Nwafor (formerly Chief Technical Officer); Vice President, MTN Group, Oyeronke Oyetunde; General Manager, Enterprise Marketing, Onyinye Ikenna-Emeka; General Manager, Corporate Affairs, Omasan Ogisi; and General Manager/Executive Secretary, MTN Foundation, Nonny Ugboma.

A similar situation exists at foremost brewer, Guinness Nigeria Plc, with several women manning top leadership positions.

They are Corporate Relations Director, Viola Graham-Douglas; Marketing and Innovation Director (Guinness and Spirits), Adenike Adebola; Marketing and Innovation Director (Innovation, Lager, Consumer Connections and APNADS), Jody Samuels-Ike; and Human Resources Director, Bola Olajomi-Otubu.

For BAT, women empowerment, diversity and inclusion is entrenched.

According to the company, it achieved 31 percent female representation on its Board.

It also boasts of female executives in all its senior functional and geographical leadership teams and ensures a sustainable stream of women for senior management roles.

One of the ways by which it is supporting womenâ&#x20AC;&#x2122;s progression into senior roles is through a program called â&#x20AC;&#x2DC;Women in Lead-

ership,â&#x20AC;&#x2122; which provides training, mentoring and other types of career support for high potential female employees.

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, also belongs in this category with women heading various subsidiaries and divisions. Titi Ogungbesan is Chief Executive, Stanbic IBTC Stockbrokers Ltd; Bunmi Dayo-Olagunju, Chief Executive, Stanbic IBTC Asset Management Limited; and Binta Max-Gbinije, Chief Executive, Stanbic IBTC Trustees Ltd. Also, Johnson & Johnson has recorded remarkable progress in gender diversity.

This belief is emphasized at every level of training and embedded in its training materials to ensure that staff imbibes them and that their thinking is not impacted by any hidden biases. Johnson & Johnson regularly communicates the organizational commitment to diversity, both internally and externally.

The attainment of a more balanced representation for both men and women in leadership positions undoubtedly demands that organizations articulate unambiguous policies and action points and strive to implement such policies in a consistent manner. Also, mentoring has been identified as a pivotal aspect of the goal of establishing a critical mass of women to assume leadership roles.

Having significant women representation in the work force is a critical step towards ensuring that across the world, the potential of women as innovators and change agents is effectively harnessed. Women are best placed to understand and appreciate the challenges that fellow women face and whatever obstacles might impede their ability to fully unleash their creativity. Women are also best placed to put in place the necessary mechanisms, based on their understanding of the issues, to foster innovativeness and creativity, including the deployment of intellectual property as an agent of economic and overall human progress.

- Alabi is a Lagos-based entrepreneur and economist

WEEKLY PULLOUT

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

LIVING | P31

COLLAGE | P36

THISLIFE | P37

FILE

‘WHY MY PASSION FOR FURNITURE BROUGHT ME HOME’

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‘Why My Passion for Furniture Brought Me Home’ Demi Owoseje, a certified architect and founder of Majeurs Chesterfield Ltd, a furniture manufacturing firm, is a young entrepreneur who makes a living in a male-dominated field. In this interview with Sunday Ehigiator, she spoke about her passion for creating outstanding furniture and her encounters with the Prince of Wales, Prince Charles and former British Prime Minister, David Cameron, among others

Owoseje...happy about her works

Can we meet you?

My name is Demi Owoseje, am the founder of Majeurs Chesterfield, a furniture manufacturing company, both in London and in Nigeria. We offer the following services: kitchens, wardrobes, beds, soft furnishing and interior design. My parents are originally from Ogun State.

How did it all start?

Well, it started in 2011. I graduated in 2010, in Architecture from London Metropolitan University, East London. I studied Architecture for many years. After graduation, I started looking for work but didn’t find anything for a while, so I started playing around and having fun with furniture, I have always loved antique furniture, buying furniture, restoring furniture and selling it, that’s basically how I started. Having done that for a couple of years, I quickly realised that it was getting me a lot of attention. I was getting a lot of work and recognition from a lot of high end-clientele and top designers.

When I was invited to meet our former Prime Minister, David Cameron, I was over the moon.

Shortly after that, His Royal Highness Prince Charles visited my workshop and gave me valuable advice I knew I had to continue and work even harder… so I continued.

The business was growing, then one day a family member; a very close family member suggested that I take the business to Nigeria where the people and country could benefit from my talent for manufacturing and restoration,

so here I am…it has been an interesting year thus far.

So how did the people in the UK receive you?

Quite well, I believe I was blessed and fortunate because when you are doing something that is not typical of your gender, it either goes two ways; people could gravitate towards you because you are very different, or they simply ignore you with the thought that this very strange and immediately turn their attention elsewhere. But the latter wasn’t my story; I was very good at what I was doing and it was getting me the type of clientele that was happy to tell other high-end clientele about me. I was being noticed and a lot of media houses were interested in what I was doing. And before I realised it, I had started a profitable business.

You studied Architecture, have you had any training to improve on what you are doing or you just started it off just like that?

Basically, what happened at the beginning is that I started off as a hobby and was self-taught.

As time went on and I was becoming more and more invested in what I was doing I began looking for expert training. The further I went into my industry the more I realise there was more to learn. This is a continues journey. I sought help from those who had been doing this longer than me, I did a lot of research. I took part in professional training classes. In 2013, I went for Professional Leather restoration class,

which basically educated me in the world of leather, I am in fact a certified leather specialist.

Between 2013 till now, I have ensured that I am continuously learning new ways of doing things. Now having moved to Nigeria, I plan to use the knowledge I gained from the UK to further enhance my work here.

You mentioned meeting with Prince Charles, what actually took you to him?

At that stage, I was on a lot of TV shows and a lot of media houses talking about young people and businesses, young entrepreneurs and interesting issues. Along the way, Clarence House contacted me, which is where Prince Charles resides. He had noticed what we were doing and was interested to know more. His Royal Highness is a great supporter of young people and young entrepreneurs trying to break out and do new things. I got a visit from Clarence House with information that Prince Charles will like to meet me and likes to know more about what we are doing because he finds it interesting, he happens to be big fan of antique furniture and a big supporter of young people so it was a lifetime opportunity for me to showcase all my hard work. The road to my office was shut down for the visit and security was intense.

My parents were also invited and needless to say my neighbours were in awe of His Royal Highness. During the event, we talked about brand authenticity, loyalty to local materials and the importance of Made-in-Britain.

Apart from Prince Charles, which other high profile person did you meet in the UK? I was invited to No.10 Downing Street where I met former Prime Minister, David Cameron.

This was a privilege that allowed the Prime Minister to ask me questions about my passion and give me great business advice. In England we are very passionate about Made-in-Britain products, we take a lot of pride in it. Creating anything Made-in-Britain showcasing your talent and ability is very much embraced and valued by the people…I hope one day this will be the case in Nigeria.

As an entrepreneur who wants to do anything great, do it with pride and understand you are full of so much greatness. You may not know everything now, but you could always learn and can always improve with time; knowing that you’ve built the stuff with your own hands in a country you are proud of. I also brought that to Nigeria as well, there is something very powerful about using local materials to build great things and inputting value into them.

How did these meetings impact on what you do?

It has changed my business in tremendous ways. You say to people that you have had the pleasure of meeting such important people through your business or you have people like that endorsing your brand is priceless. My products are beautiful and to have these names associated with it simply makes it easier for people to

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Prince Charles and Owoseje...discussing about young entrepreneurs

patronise you.

I am always going to be grateful for that exposure because it’s not something you can buy.

What does it look like doing business in England as a Nigerian?

I have always lived in England, it’s the home I have always known, so it’s a bit difficult for me to see it from the perspective of a Nigerian. But as a black woman doing business in England, I can tell you a thing or two about that. It can be tough. There can be times when things are challenging when you feel like you have hit the glass ceiling. Nigeria is very promising because of the numerous opportunities, there isn’t so much red-tape. Nigeria also has its own limitations but they are different. Nigeria has this enormous room for growth and I am certainly ready to play my part.

When you saw enormous room for growth, how do you mean?

Yes, there is an enormous room for growth in this emerging market. It is virtually an open market. There is so much space for inspiring entrepreneurs to create and invest. The competition isn’t that aggressive yet. The benchmark has not yet been set. Whenever you see an environment where there is demand but the standards haven’t yet been set, it basically means an open market.

You can come, you can grow, you can establish, you can resolve a problem. So many people are looking for your products or services. Nigeria has been so fixated on bringing everything in, now it’s time to build, and there is a lot of space for building here.

Do you imply that the materials you use are imported?

A lot of our materials are imported. But what I do think is very vital to understanding when manufacturing in Nigeria is where we can source solid materials within Nigeria and utilise them to their best potential. Rather than just focusing on importing everything. Many Nigerians still believe that “because it’s foreign it must be better”, no, that is not necessarily the case. At Majeurs Chesterfield we know that having a stable availability of materials is key for production. Nigeria doesn’t necessarily have that just yet, but at the same time, Nigeria has great wood, so we use it. There are not enough fabric manufacturers here but we patronise those selling along with those we import. There are no reliable leather manufacturers here, but we patronise those who are trading. So you can see that where we can take from Nigeria, we ensure we take. Where we must import, I am grateful for the great relationships I have built over the years with my suppliers in the UK and around the world.

Do you have anything that promotes the Nigerian culture?

Owoseje...passionate about her work

It’s funny. We did a project recently, where we used a family (Aso Oke, a tradition material amongst the Yoruba’s) heirloom to make an armchair for one of our clients. We are also currently exploring a project where we use local indigenous Nigerian fabrics to create our signature designs. My experience in architecture focused on sustainability within a design, so that’s where my passion for design was born.

Architecture taught me the importance of using local materials to build great design. There is great beauty in emphasising or showcasing local materials.

Can you walk us through your steps which facilitated you into Nigeria?

I have never lived in Nigeria. I have visited in the past. The first time I came to Nigeria, I was 14 years old. I came for a family function and was here for a few weeks. I was here again at 18 years of age, then at 21 when I was in the middle of my university days. When you visit Nigeria as a youngster, it is difficult to explore or see the country for what it is. You are very much guarded.

When I decided I wanted to come and explore the business terrain I certainly came to explore.

I came first and foremost to do my feasibility studies, I had to get to know Nigeria for what it was, I had to expose myself a little bit more. Within that month stay, I visited so many furniture stores, from the top end to the local guys on the roadside. I wanted to know who was doing what, I wanted to know the current game changers in Nigeria, the people who were doing great things and how I could do the same if not more. Having done my feasibility studies, I said: “okay, this is not too bad, but I'm going to need more time”. After the month, I went back to London, I gathered myself together and prepared for a three months stay in Lagos. So I returned to Nigeria, I got my accommodation sorted out, and within the three months, I got to test run what I would be doing. So I went to the market, I bought materials, I went to the wood market, I went to local carpenters, sourced around for different carpenters, I asked if they can make a particular product and how they would make the product.

In the beginning, it was difficult because of

the language barrier. Though my pigeon and Yoruba are much better now, when I first arrived, I couldn’t communicate without an interpreter.

Going to the markets, there is a lot of politics that are involved in business, so I had to learn very quickly. After several trials and errors, I finally found carpenters that I felt were willing to listen to my input. I found a local makeshift workshop and we started to create.

I am a hands-on creator, many of the men found that a little bit challenging because it was like ‘who is this young girl coming to tell us how to do our jobs, surely she doesn’t know what she is talking about’. Some were agitated, others were amused.

Nigerians can be quite difficult sometimes, so perseverance is key, especially for somebody like me. In the year we have been here I would certainly say that I have gained the respect of my predominantly male workers. So, yes, so far so good!

Your office is hidden, was it your Idea?

In the beginning, it seemed important for us to have a showroom location where people could

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David Cameron (laft) and Owoseje (right)...discussing about entrepreneurship

visit to see our products. But as we progressed we discovered our own way of doing business.

As a company, social media has been wonderful for our marketing and we get regular visits from customers every day.

As a manufacturer, our focus at the moment is finding the right location to better develop our product line and meet customer demands much quicker.

So how do you reach out to your would-be customers?

Social media. It is so powerful nowadays and we embrace it. With social media, you don’t need a shop front. That’s not saying we won’t have a showroom in the future but selling via social media works for us.

What platforms do you currently operate on?

Currently, we are on Instagram @majeurschesterfield, Facebook @majeurschesterfield our email is info@majeurschesterfield.com, and our website which could also be visited is www. mejeurschesterfield.com How does technology impact on what you are doing?

In every way, things a business like mine would have had to do 20 years ago, we can now do in a matter of minutes using technology. 70 per cent of our business comes from social media or some form of technology that we engage in.

Media and technology is the present and the future I can imagine if I want to bring in a website expert tomorrow, imagine how that would impact my business. There are lots of new innovations that technology can bring to how business is done these days and we have only just begun to explore them in this part of the world.

What is your perception about entrepreneurs in Nigeria, are they really doing well?

Well, with what they have I believe an average Nigerian is an entrepreneur and I see that every day, we are surrounded by entrepreneurs, the difference is they don’t have the support to really bring out their full potential. An average Nigerian is a hustler, hustling to make something out of nothing, surviving and creating. That’s the Nigerian spirit, we are natural entrepreneurs and being a feminist I can say women are the biggest entrepreneurs in Nigeria, we are entrepreneurial in everything we do, naturally, that’s just who we are.

However, when it comes to being a successful entrepreneur it’s not enough to just to have the spirit, something has to fuel it, something needs to push it forward. The government has to help, the family has to help and more than anything else, we need to recognise what we are capable of doing.

Owoseje at work

I am well travelled and I have met Nigerians all around the world, we are doing great things everywhere around the world because there is something in the systems that fuel our talents.

What is your take on government support for entrepreneurship in Nigeria?

I think this is one of the biggest problems confronting entrepreneurs in Nigeria. No bank wants to support creativity; it’s very discouraging when you are extremely good at what you do but nowhere to get finance to pursue it. That is what I have found to be a big challenge in our time here. In the UK we have multiple bodies you could approach for funding facilities. In fact, the competition is high for competitive rates.

A lot of bodies want to support your talent/ skills so long you have all the requirements, which are necessary to prove it’s genuine. As an entrepreneur who is fortunate to have lived in the UK and benefited from the various funding bodies, I see the reason why many Nigerians in the diaspora don’t want to come home.

I know England has its own set of problems but what we are faced with here in Nigeria is beyond anything I have ever experienced. The youths here are very talented but they have a big task in front of them. The government either cannot or will not help us to excel, so we need to take our focus away from the rescue and begin the long journey of rescuing ourselves…

What makes your business unique?

It’s not so much the business as much as it is about the individuals. Without me, my business is not the same. I believe that a business should exemplify the principles of its founder in order for it to be unique to itself. As the business grows, the values of the individual should still be present in some way or the other. My furniture is not new; I am not the first to manufacture such designs. What makes Majeurs special and unique is simply doing things our way and owning that.

You mentioned earlier that you are a feminist.

Do you belong to any group?

No. I believe strongly that women should have the same political, social, and economic rights as men. We do and can do far more than we are given recognition for. Feminism isn’t about just being pretty in our feminism but also adding significant value even in a male-dominated industry. We must own our excellence and must not be shortchanged for it.

As a Young entrepreneur, what is your advice to those that are currently not doing anything?

They must first find their passion, I can’t imagine having passion and doing nothing, it doesn’t matter what it is, just dig deep and find what makes you come alive… first!

If you find your passion, you will find your purpose. Simply doing nothing with your life means you lack passion. I have seen people polishing shoes, but doing it with passion. That passion will make you the best shoe polisher in town and in turn possibly the richest amongst your peers.

31/ NEWS

27.04.2018

Excitement as TVS Tricycle Riders Get Free Check-ups in Ajah Stories by Mary Ekah It was excitement all through as TVS Tricycle riders in Ajah, Lagos, were rendered free medical examination for their health statuses as well as free mechanical service for their tricycles during a Mega Free Check-up Camp held in Ajah recently.

The 5-day free check-up camp organised by Wandel International, the flagship company of the Simba Group, sole distributors of the TVS Tricycles and motorcycles by TVS India Limited, was a way of giving back to end users and the society at large. Numerous tricycles were attended to by experts mechanical during the exercise which the Head, Service TVS, Mr. Vivek Pendharkar, said would also feature free oil filters and engine oil, training for riders on driving safe and keeping the vehicle fit as well as free medical consultation for high blood pressure, diabetic and the condition of the sights of the operators.

“The main purpose of the free camp check-up is to give gratitude to our end users who have been supporting us. Our end users are our strength because they tell us what to do and what not to do.

We support them by providing them with services, spear parts as well as establish strong personal relationship with them through our TVS dealer in this area which is Madam Olubunmi Kuforiji of FOBIMS. And through this we have been able to grow our business here in Ajah,” he said.

While declaring open the free checkup camp, Deacon Adekunle Pelujo, who represented the Oba Hafeez Olakunle Badiru, the Elejigbo of Langbasa, said the event would not only help the operators to put their vehicles in proper shape but also enable them keep their health condition in proper shape. While calling on them to take advantage of the exercise, he cautioned the riders to be careful and obey every rule and regulation while riding their tricycles.

Mechanical experts attending to TVS Tricycles brought by riders to the Ajah check up camp

Head, Tricycle Business, Mr. Amit Seth said, “We have been here for many years and we feel this is the right time to use the tricycles as a means of empowering people for better livelihood. And that is why we have upgraded the product to a higher level - the TVS Dulex Plus - with advanced features, it saves fuel, it is less polluting to the environment and of course offers more comfort. This means that the rider is going to run the tricycle with peace of mind and at the same time saves a lot of money. Therefore, we are improving the condition of families and the society at large. TVS tricycle has become a respectable source of income for youths and even young graduates. Rather than roaming on the broads, they now have decent source of income while living live with dignity.

“The check-up camp which ran for five days, featured training for riders to ensure that they maintain their vehicles to afford the side effects of pollution; so we want to service their tricycles to improve maintenance.

Also, there is going to be a free medical check-up for all riders,” he noted further.

The TVS main dealer in Ajah, Mrs.

Olubunmi Kuforiji of FOBIMS, said when we started the project of sales of the TVS tricycles in Ajah here about 10 years ago, it was very challenging but because TVS is a company with integrity, committed to the end users satisfactions, we have been able to overcome virtually all the challenges.

“Over the years, the company has amongst other things provides opportunity to improve technical skills of mechanics of tricycles by training them so as to reduce the cost of maintenance for the riders,” she added.

National Sales Manager, TVS, Mr. Deji Olaniyan said, “Ajah is the home of TVS, what we have been able to achieve in the environment is incredible. Many years back when we introduced TVS to this area, the peeole embraced us and today we are not only number one in Ajah but number in Lagos and in Nigeria as a whole. So today we are giving back to our numerous customers.”

The Simba Group, founded in Nigeria in 1988, is a conglomerate with operations across Nigeria’s most dynamic economic sectors.The Group has businesses operating in a number of sectors critical to Nigeria’s sustained development.

The Minasdollz Show Gathers Momentum Christina Bartlet, better known as Minasdollz recently launched her Selfstyled talk show, The Minasdollz Show.

The show which aired it maiden edition on April 6th on Ben TV, Sky Channel 238, is gradually becoming popular among notable personalities across the continent.

Empowerment coach and author, Venesia Williams was one of the guests on the show. She opened up on her past in her new book “Turning Point”. The single mother of two said her book will inspired anyone who is entrapped by their past and wants to be set free. Popular British comedienne and budding actress, Oyinbo Princess who is known for her mastery of the Pidgin English also revealed on the show her plans to start a cooking show in Pidgin English among other things she shared with the viewers.

The Minasdollz Show is an enlightening; inspiring and highly motivational talk show; reason the show is rapidly gaining ground

Venesia Williams, Hannah Marie Sang (Co-Host), Oyinbo Princess, Minasdollz (Host), Arek Zasowski and Big Tizzy at first edition of The Minasdollz Show

even in a very short time. Throughout the 1-hour duration of the show, the viewers were held spellbound. It was exciting to watch bling-rocking artiste, Big Tizzy perform one of his tracks. The next episode which comes up on May 4th, promises to be

an interesting show as it already has in its line-up fantastic personalities poised to inspire the viewers with their stories.

The Minasdollz show airs first Friday of every month on Ben TV, Sky Channel 238 from 8-9pm.

DOAMF’S Free Medical Outreach Holds in Abeokuta Daniel Ogechi Akujobi Memorial Foundation (DOAMF) recently organised a free medical outreach programme for the indigenes of Alamala Community Abeokuta, Ogun State. The one-day free medical outreach aimed at addressing the salient medical challenges that is prevalent in communities with low health sensitisation. The programme focused primarily on screening and treatment for high blood pressure, malaria, diabetes, body mass index screening, vitamin deficiencies treatment, breast examination and de-worming were carried out. Subsequently free preventive and curative drugs were given to the beneficiaries; it also focused on creating awareness on the benefits of proper hygiene and the need for the beneficiaries to know their medical numbers.

The Programme Officer (Health), Mrs. Amala Ohaji said that the programme was

Nurses Checking the Vital Signs of the Beneficiaries

organised in view of achieving the third goal from the 17 Sustainable Development Goals (SDG) which was initiated to ensure healthy lives and promote the well-being for

all ages. She also added that healthy living shifts the focus from cure to prevention through sensitisation on the importance of good hygiene and routine medical check-up.

Pilot Wins Big Brother Naija After three months of suspense, drama, intrigue and controversy, Africa's biggest reality show, Big Brother Naija: Double Wahala came to an end with the in-house pilot, Miracle, emerging as the winner of 25 million naira cash, an SUV and other prizes with a combined worth of N45 million.

Former Big Brother BBN winner, Miracle Naija housemate, Bisola, hosted a live viewing in Lagos, Nigeria, and coverage of the show switched between the venues.

Nigerian serial hit maker, Davido, kicked off proceedings with his hit track, 'Fia' and the five finalists, Tobi, Cee-C, Nina, Miracle and Alex were then joined in the house by Ebuka, who gave them opportunities to clear the air on several controversial issues.

The first eviction of the night was then announced, as Nina was told to leave the Big Brother house. Viewers also got the chance to hear from past housemates who were in attendance at the Lagos venue, as Bisola probed them on their relationships and ventures outside the house.

A pair of performances followed, first with 'Legbegbe' crooner Mr. Real thrilling viewers and then Kaffy and the Magneto Dance Crew performing expertly choreographed dance moves.

Court Clears VIP Express Tourism Dispute with CPC, Customers The long dispute between VIP Express Tourism and the Consumer Protection Council (CPC), over an alleged misconduct and wrongful dealings by VIP Express towards its customers has been resolved. A Federal High Court sitting in Abuja delivering its Judgement on April 10, 2018 in suit no: FHC/ABJ/CS/55/2017, VIP Express Tourism Limited v. Consumer Protection Council and Anor, held that the tourism firm has not been involved in any wrongdoing or unscrupulous activity in its relationship with customers as alleged, and consequently quashed the decision and recommendations made by the Consumer Protection Council (CPC).

Recall that in September 2015, CPC began investigation into the operations of VIP Express Tourism following complaints, alleging gross abuse of consumer's rights. In December 2016, whilst there was a pending suit in court, the CPC released an Order for VIP Express Tourism to refund N25 million to some aggrieved clients who could no longer meet their contractual obligations towards the tourism firm. But putting the matter to rest, the Federal High Court, ruled that the CPC had no power to determine the rights, legality, propriety or otherwise of any contract between VIP Express Tourism Ltd and its clients. The court also held that CPC does not hold the power to alter or invalidate the terms of a validly executed and subsisting contract entered into between two parties. It further ruled that the demands, decisions and recommendations made by the CPC were illegal and ultra vires.

ONGAcious TV Starts ONGAcious, a new weekly magazine family TV show, which focuses on promoting Nigeria’s culture, tourism and healthy living, is currently showing on selected television channels across the country. Sponsored by Onga, a brand from the stable of Promasidor Nigeria Limited, manufacturer of Cowbell Milk, Loya Milk, Top Tea and other quality products, the educative programme was premiered on Saturday, April 7.

ONGAcious airs every weekend on select TV stations in Nigeria including: TVC Lagos, African Magic Family (DSTv and GOtv), OSRC TV Akure, STV Jos, ABS Awka, NTA Kano, NTA Ilorin, NTA Kaduna, NTA Aba, NTA Port Harcourt, NTA Minna, Rima TV Sokoto and NigbatiTv (StarTimes channel 137), with more channels expected to be added to the list.

Speaking at a media interactive session in Lagos, the Marketing Manager, Promasidor Nigeria, Mr. AbiodunAyodeji said the company has chosen to sponsor ONGAcious because its thrust aligns with the brand essence of Onga, which revolves on trust, family, responsibility and caring. Ayodeji said the show has a strong appeal to families and would offer Nigerian families a rare opportunity to jointly watch an educative, informative and entertaining programme for six months.

According to him, the show would expose the audience to the country’s rich cultural diversity and tourist attractions.

He added that the series would help to preserve Nigeria’s cultural heritage as it would reconnect viewers with their ancestral roots.

32 / INTERVIEW

27.04.2018

Dickson: I Want to Leave Behind a Motivated, Disciplined Public Service Governor of Bayelsa State, Seriake Dickson, in this interview with journalists in Yenagoa, speaks on his efforts to reform the stateâ&#x20AC;&#x2122;s civil/public service, how his successor will emerge, among other issues. Emmanuel Addeh was there What is the thrust of the ongoing public service reforms in Bayelsa State?

I have been raising the issue of the unsustainable wage bill in all the categories and cadres of the public service from 2012 and since then we have embarked on several measures and policies to tackle the issue.

We have carried out verifications upon verifications and taken so many other steps at different times and in different ways, all aimed at taking out the bad eggs, and also to reposition the public service, as a result of which from 2012 when we took over, the wage bill of N5b plus at the state level and about N1.7 billion in our eight local government areas is now slightly under N4 billion. When you take out the political appointees it is about N3.7 billion.

That should tell you the amount of work that has gone into the process. That of the local government areas is now about N1.1b. That also tells you the hard work that has gone into that area as well.

What has happened now is not a new thing.

I have been talking about this public service reforms for a long time now. I have been talking about the need to reduce the running cost of governance, reduce the wage bill and professionalise the public service.

I have been talking about the need to remove the names of those who do not go to work from our payroll, fish out the ghost names and address the problem of those who purchase salary grades and steps, and those who have turned the public service into a market, as well as the general indiscipline in the service. We cannot afford a workforce of the type that I have described.

Now, let us be clear, there are hardworking civil servants in this state. There are committed and conscientious public servants that are doing their best and I know a lot of them.

I have served as governor in this state for six years now, and before that, I worked here as Attorney General. I have been part of this state from its creation so I know what has been going on, but we feel that the time has come to draw up a coherent policy that we will implement so that at the end we will hand over a smart, well-motivated, well trained and disciplined public service.

Our experiences during the recession taught us a lot of lessons. 2015 and 2016 were very terrible years for us governors and I believe also at the federal level, even though at the federal level they have a lot of other opportunities and can do things with the central bank and raise money through bonds and so on, but we in the states are at the receiving end.

For a state like Bayelsa, one of the newest, remotest and most underdeveloped even though we produce most of the resources the country relies on, without a solid IGR base because there are no industries or private sector, we are handicapped.

The oil companies operate here but pay taxes to other places. Whereas other states count their IGR in billions and boast about it because the federal government built their airports, seaports and other things that attract investors, here in Bayelsa we do not have that kind of luxury. We are building everything on our own.

When we took over, IGR was N60m; we had to fight tooth and nail to raise it to where it is today. When you have a state like ours that is dependent on what we get from the FAAC for everything, you must be interested in the recurrent cost.

I understand why the wage bill is the way it is and I have severally described it, for want of a better description, as the Nigerian voters register, in which you see all kinds of names â&#x20AC;&#x201C; living and the dead, the unborn and ancestors, and spirits.

As it is in the Nigerian voters register, that is the way it is in the Bayelsa payroll, from the local governments to the schools, to the state service, to parastatals. Take for example a parastatal like the Bayelsa Transport Company, they do not have a single vehicle, so they generate no money for themselves or for the state and yet we have 400 plus workers, being promoted and earning salaries, and yet not going to work and not having anything to do.

Dickson

I believe it is wrong, but I know why things are the way they are. When the state was created, the few available people from Rivers State that came to start the civil service did not have proper accommodation to live in or even office spaces to work, but this state is 20 years now so that negative mind-set that you can have your names on the payroll without coming to work has to change.

We have to draw a red line now and it is my intention and the desire of the government that I lead to do so. In addition to the good schools, medical facilities, roads and bridges we have built, one of the most important things we will also like to leave behind is a reformed, repositioned, well motivated, well-trained and disciplined public service.

That is the central objective of the public service reform. We go by conviction and we cannot be swayed by propaganda or blackmail. Whatever is good for this state, the only homogeneous state of the Ijaw Nation, we are going to get it done, no matter how difficult the decisions may be.

We are aware that the people who may be affected by the reforms, are Bayelsans and so the government has the responsibility to listen to issues that are genuine and one way or the other at the end of this process, we have a duty and I am prepared, something that a lot of governments do not even do, to come up with ways by which we will ameliorate those hardships and create other opportunities for them.

As we speak, almost all the states are looking inwards because of what we went through during the recession. The federal government is also doing the same. The central focus of this reform is not to sack, but to reposition. For example, this state needs teachers because we have built schools, schools and more schools.

We have conducted surveys in every sector and so we know their manpower requirements and all those who may be affected by this reorganisation could still be useful as teachers or sent to these other sectors. A graduate that has majored in a particular course should be able teach that course in secondary school. We will have ways of absorbing them but with conditions. The condition is that they must be existing workers and they must be committed workers as well.

Now there are others who are genuine workers and they go to work but they have falsified their grade levels and steps. I have directed that all

those case if identified, should be normalised, that is part of what the public service reforms will accomplish.

We have the option of following the rules and the provisions of the law, but what we told the committee to do is to normalise those irregularities. For so long the state has played with the public service. Political leaders will come and go, but the civil servants will stay for 35 years in service or until they turn 60 years old, or whichever is earlier.

I love this state, I love our people and I love the Ijaw Nation. This is the only state we have and we have to run its affairs properly. What I am doing is not something that will bring political credit to my team, and me but I am doing it out of the passion and love for our people and that point has to be noted. The main beneficiary of this exercise is the state, the institutions, the schools and the public service that will be strengthened and disciplined.

I do not want the next governor to inherit this kind of rot in the public service because we love our state. Part of my job is to be called names, but we are convinced that whatever we do is in the best interest of our people. If the present generation does not appreciate it, succeeding generations will say a governor came with his team, saw and made a difference.

What is the state governmentâ&#x20AC;&#x2122;s projection at the end of the exercise in terms of savings that will be made and the number of workforce that will be left in the service?

That question is premature, because I will like the process to run its full course. Steps are being taken, but only God is perfect. Any idea from a human being or an organisation is subject to adjustment, so let the process go on. We have set up different appeal mechanisms through which genuine complaints can be addressed.

For example, we sent out civil servants to all the local governments, permanent secretaries were in charge, so many teams from the civil service, unions and so on have gone round. These names did not drop from the sky, but genuine complaints will be attended to and resolved amicably.

The other thing I want to say in response to your question is that this reform is not only to remove excess luggage but at the end of this process we will also open up a lot of opportunities in the public service.

For instance, I raised the issue of the protocol department that needs to be strengthened. I have given directives to the Chairman of the Civil Service Commission to develop the template for my approval so that we can begin recruiting fresh graduates in this state.

So, for young people out there, you have to know that this public service reform has opened up a lot of opportunities for you to be employed instead of keeping 80-year olds in the payroll.

Let the old people who are due for retirement retire so their children and grandchildren can come into the service.

I have directed the Chairman of the Civil Service Commission to develop a template to employ medical staff. This state needs medical staff. I have directed the employment of 20 pharmacists for the first time in this state. We are running a serious government; I am not here for play.

In the agricultural sector we also need specialists and technocrats, which we do not have at the moment. We do not have architects, town planners, surveyors, engineers and so on. We need to employ young Bayelsa graduates who have certificates in these areas, and not fill up the payroll with fake names that will receive salary and not do any work.

So, people need to know that a lot of vacancies will be created and I have already directed the Civil Service Commission on the basis of the preliminary needs analysis before me, to call for applications as soon as the approval is given.

We have our database of unemployed graduates, so announcements of a lot of opportunities will be made for graduates who are active and have contemporary skills like IT and so on. These are the people we want to bring into the public service instead of being saddled with unsustainable wage bill.

I approved the employment of 30 doctors.

I have been doing that from time to time to bring in lecturers and so on. Take for example, you have security guards in our primary and secondary schools, and for a number of you who are contripeople like me, who grew up in the village, you should have an idea of the kind of people that have been employed as security guards.

They are there supposedly to guard and protect schools and facilities, but in most cases they cannot even protect themselves, not by any fault of theirs, but because they are usually old and spent.

We are thankful to God because old age is a good thing, but old people need to rest. They do not need to keep working until they are 100 years old. So, what we have decided is to create the Education Safety Corps, which I have already signed into law. We have been following a very comprehensive programme from 2012 until now.

You were credited to have said that God would determine your successor in 2020. Can you throw more light on it?

I have always said that power belongs to God. Human beings try their best but ultimately, it is the wish of God for anybody and the wish of God for our people that, as a man of faith, I believe will come to pass.

My attitude to such matters is that people should try their best to leave room for God who is the author of all life and all human power and authority. That is why I always advice people not to be too desperate.

People do all kinds of things for power, authority and money. I do not belong to that school of thought. Not many people knew I was going to be governor, I myself did not even know I will be governor as at the time I became governor.

But you see when God wants to do something; he creates the circumstances and even raises the people. That is why no human being should take credit. You can support somebody to win but do not take credit. At the very best you were just the agent God used.

Take for instance as governor, you know the number people I have made by the appointments I have given and other things I have done. It has CONTINUED ON PAGE 33

33/ LIVING

27.04.2018

FERTILITY WITH DR. KEMI AILOJE

Tel : +2348033083580, Email:info@lifelinkfertility.com, Website: lifelinkfertility.com

Secondary Infertility Treatment Options It’s common misconception that fertility treatment should automatically be In Vitro Fertilisation (IVF).

The truth is that there are varieties of fertility treatment for secondary infertility that range from infertility medications for purpose of ovulation induction with timed intercourse to intrauterine insemination (IUI) also known as artificial insemination and beyond.

Infertility medication commonly used include oral medication such as Clomiphene Citrate and Letrozole which are used to stimulate ovarian follicles to mature and also fosters the release of more eggs. Injectable hormonal medication containing follicle stimulation hormone (FSH) and luteinizing hormone (LH) also commonly used to produce multi eggs. Oral and injectable ovarian stimulation medication may be used together during an Intrauterine insemination procedure.

In Intrauterine insemination (IUI) procedure, a semen sample from the partner or donor may be prepared and injected directly into the woman‘s uterine cavity during ovulation. In vitro fertilisation (IVF), eggs combined with sperm outside the body to create an Embryo which is transferred directly into the uterus through the cervix, Intracytoplasmic sperm injection (ICSI) in a lab your doctor injects one sperm into one egg.

Insemination: Insemination is the process of injecting the sperm through a thin flexible tube directly into a woman’s vagina, cervix uterus or fallopian

(ZIFT) eggs are stimulated and collected using IVF methods. These eggs are mixed with the sperm in the lab. Fertilised eggs (Zygotes) are then laparoscopically returned to the fallopian tube where they will be carried into the uterus.

The goal is for the zygote to implant in the uterus and develop into a foetus.

tube. This put sperm closer to the egg and it can overcome barrier such as low sperm count and cervical mucus. Insemination can be used with donor sperm. It can be combined with other fertility treatments such as Clomiphene or Hormone Shots.

Assisted Reproductive Technology (ART) ART is used to remove eggs from a woman’s ovaries (or used donor eggs and fertilise them with the man’s sperm (or donor sperm) outside the body. One or more fertilise eggs are then transferred to the woman’s uterus or fallopian tube. Before deciding on ART treatment consider the possible emotional, social, financial, religious, ethical and legal questions that may come up for you and your partner.

Zygote Intra Fallopian Tube Transfer (ZIFT) Combines In Vitro Fertilisation (IVF) and

Pronuclear Stage Tubal Transfer (PROST) Similar to ZIFT, used in vitro fertilisation but it transfers the fertilised egg to the fallopian tube before cell division occurs. These procedures have higher costs and risks related to laparoscopy and they do not provide as more useful information about embryo development as IVF does. For these reasons these procedures are rarely used.

In Vitro Fertilisation (IVF): In vitro means “outside the body.” IVF is a process whereby eggs are collected and then fertilized by sperm outside the body, in an embryology laboratory. The first IVF baby was born in 1978 in England. Not long after, the United States delivered its first IVF baby, and the use of IVF has grown dramatically. IVF was a major breakthrough because it allowed for successful pregnancies in women that were previous deemed permanently infertile, such as when the fallopian tubes are both markedly damaged. IVF involves removal of eggs directly from the ovary, fertilisation with sperm in the laboratory, followed by transfer of the embryos directly into the uterus, thereby bypassing the tubes. Although tubal disease

(Part 2)

was the original indication for IVF, many more indications have developed over the years.

These include advancing maternal age, severe male factor infertility (whereby ICSI can be used to fertilise the egg), and endometriosis, amongst many others.

IVF is generally performed in the following manner: The woman undergoes gonadotropin injections, which stimulate the ovaries to produce many eggs. Once the follicles (fluid filled sacs containing the eggs) reach a mature size, an HCG injection is administered which leads to final development and maturation of the eggs. Just before those eggs would otherwise be ovulated, they are retrieved under mild anaesthesia in an operating room. This procedure is done by ultrasound guidance where the physician utilises a narrow needle to retrieve eggs from the ovary through the vaginal wall.

This sterile needle is attached to sterile suction tubing and a collecting vial. Once the fluid containing the eggs is removed from the follicles into the vials, they are handed to the embryologist who finds the eggs, places them in tiny droplets on a Petri dish, and then fertilises the eggs using their partner’s or donor sperm. The sperm can either be mixed with the eggs to allow normal fertilisation (conventional insemination) or by injecting one sperm into each mature egg (ICSI).

The fertilised eggs, now embryos, are allowed to grow and develop in culture media for typically three to five days.

INTERVIEW

DICKSON: I WANT TO LEAVE BEHIND A MOTIVATED, DISCIPLINED PUBLIC SERVICE gone into their CVs and they use it a steppingstone. That is what God wants for them using me. I believe that at the right time the wish of God will prevail.

However, in this state, my approach has been that of a consultative one, so at the right time I intend to start a process of extensive consultation because governorship of any state is a very serious responsibility.

In this state, if you look at our recent past and you compare it with what we now have, you will see what it means to have a governor.

At the right time I will call for prayers as I always do for God to give us ideas, and for His will and His will alone to manifest. I believe at the end of the day it will be well with us. I call for understanding although the time has not yet come, but I must commend the politicians in my party for their discipline so far.

Recently, the Bayelsa State Government threatened to take the federal government to court if it fails to deduct and deploy to oil-producing states, the 13 per cent derivation component from the $1b it is withdrawing from the Excess Crude Account to tackle the security challenges in the country...

That was not a threat; it was an opinion. The position contained in that letter was a position I advanced in my several interactions at the Governors Forum and my subsequent interactions with the Vice-President who is the Chairman of the National Economic Council, and I have raised that view publicly also.

And I had an understanding and I thought the understanding was for the processes I outlined to be followed because of the consultations. The monies in the excess crude account belong to the states, federal and local governments, so I wanted transparency in the process. I understand the primacy of security in our country, region and state, Bayelsa.

I know what we are doing as a state on security and I raised this concern so that we can streamline the requirement and procurement modalities before the commencement of the exercise so that funds are not used for other purposes as it is been speculated.

And most importantly that the crumbs in the

excess crude account are proceeds from oil and gas and therefore are subject to the derivative principles. That principle must be respected; it is not a threat.

I have told them openly and they know me, I am man of conviction. I do not take positions just out of convenience and I believe that is the right thing to be done. So I was just putting them on notice, that the right thing should be done, failing which the state has options. And as we speak we are considering those options seriously.

Why did your government stop the salaries of workers, even those of some workers that might be genuine?

Let me say firstly that I have directed the team to release salaries to the genuine workers. That is why in this government we created the unpaid salaries account. That is if there are issues with salaries, we will put it in an account, nobody touches it pending clarification of the issues.

I have said with regards to the process that since more consultation will be done, they should release the salaries to those genuine certified workers pending the conclusion of the exercise.

I have given the directive.

In a massive exercise like this, there will be inconveniences to the people, it is inevitable.

The important thing is that we are available and open to listen to complaints and as soon as we find them to be genuine, we address them.

You have been appointed five times as chairman of the PDP reconciliation committee by five different chairmen of the party. What do you think is responsible for this?

Well, I thought that was a question you should have asked the people who keep appointing me, but since you have asked me, I will say that it may have something to do with my style of politics. I believe in consensus building. I believe in engagements, even when we disagree.

And that is why even in this state we have this relatively stable political atmosphere.

Former President Obasanjo asked me the other day – “what is the magic?” You people know the kind of opposition I faced and I still face, but you do not see me go after anybody, I do

not need to. In fact, I tell everybody you are right to disagree with me.

Look at this on-going public service reforms, immediately I came in, my first meeting was with the labour leaders. There is no truth I cannot tell anybody. What I will say behind is still what I will say in front. So when we engage in good faith and if our motives are pure, I believe that you can achieve better results. I believe in politics of engagement, dialogue and consensus building.

I tell politicians that all political views and aspirations are legitimate. I believe we are in politics to solve society’s complex problems. As a politician you must be prepared to deal with three kinds of people; those who are for you, those who are against you and those are not for or against you.

Maybe because of my background and my political antecedents and so on, I believe in consensus building and I am not afraid to engage and to dialogue even with an opponent.

It does not mean that I like you or I like your views, but that you disagree with me does not make you my enemy. That mentality has to be crushed. So when I see brigandage, intolerance in political parties, I marvel.

In politics, you need people to achieve results, no matter how good you are. You need teamwork and team spirit; you need to work with people even when you disagree with them. The more they disagree with you, the more you should listen to them.

These are some beliefs that inform my public life and politics. People should be very mindful of how they use power. I prefer to use influence instead of power. There is a difference between power and authority and influence.

Your Excellency, what is your party trying to do and what will it do differently in view of the consistent allegations levelled against the PDP government by the APC? Quite frankly, this is part of what is wrong with Nigerian politics now, the constant demonisation of the PDP by the APC. For me it is childish, laughable and uncalled for. Because sometimes you have a feeling that the APC even though in power is still behaving like a party in opposition

and is still on a campaign mode.

I would have thought that after all the things they said that the PDP did not do well or the PDP government did not do well, well you claim that Nigerians have voted for you, so go ahead and do things rightly.

Here in this state, there was a governor who was here for almost six years and I know what I am seeing in all the files, in all projects and in all programmes. But I did not waste any time looking behind to pursue people.

I simply drew a red line and did things differently. You do not need to say you inherited an empty treasury, are treasuries meant to be full and be handed over? Treasuries are meant to be used to work. The point is that at the end of the day, every incumbent will be judged not by the failure of the preceding government but by what they themselves have done. And I think as the days and months draw closer, the more they will come to that realisation, that they will judged by what they do and what they did not do, and not what PDP did.

I think they (the APC) could have done better than they are doing. Quite frankly the PDP made these mistakes but the PDP also achieved a lot for our democracy and for our country. There is currently too much division in our country so the APC-led government has to unify the country.

There has to be a country first of all before you can claim you are in power. The APC has not been able to unify the country as much. Just look at the wanton killings and destructions of precious lives, not only by Boko Haram, because now there are the herdsmen and we are told we are under a foreign invasion and yet you are not addressing these issues?

You are talking of one list today and tomorrow another list, yet we do not know ourselves in this country. I believe our politics in this country should be mature.

That we are in different political parties does not make us enemies. Even if we are not friends at personal level, we have a number of friends in other political parties and some few good people in the APC are my friends, but at least we are Nigerians, we are human beings and we share a common humanity.

34

T H I S D AY ˾

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35/ENTREPRENEUR

27.04.2018

‘Entrepreneurs Should be Focused, Open to Criticism for Success’ Majiri Otobo is the Chief Executive Officer of KUI Care Products, manufacturers of a range of hair care products that one can easily reckon with in the hair and beauty market. The graduate of Chemical Engineering from Imperial College, London, told Funmi Ogundare about her interest in hair care, how she had been able to cope running such organisation and why entrepreneurs must be focused and open to criticism in order to succeed very promising.

Who is Majiri Otobo and why KUI Care?

I’m a Chemical Engineer by profession and the CEO and founder of KUI care products which means Star in Ijaw language, and brought up by an Isoko father and Ijaw mother. The purpose is to bring out a woman’s inner star and the four products; the Kui Tea Tree Oil and Cinnamon range designed to keep natural (or relaxed hair), soft long and healthy; and enhance one’s looks. The product can be used for natural or relaxed hair.

I studied Chemical Engineering and worked as a process engineer in a food company abroad, which means you look at the processes to make a certain product like upgrading the equipment. My role was more of engineering from a holistic point of view. During my time there, that was where I learnt how to make any kind of product like the sweet factory for instance, that gave me the opportunity to learn about an idea that I didn’t have knowledge of. So my job was proffer solutions and make a product better. After doing that for three years in four different countries; Holland, Germany and a bit in Ireland. I then moved back to England. This gave me the opportunity to see different people and factories and different ways of working. I moved back to Nigeria for my NYSC and started KUI and the reason is that during my time in the factory, I had to stop wearing weaves because I was coming from a cool climate, so I decided to go on natural hair and in the process I try to understand what I was using. I knew that there was a growing market for it because a lot of American girls were going natural and a lot of Africa American owned companies were starting up in America designed for the natural hair market. Relaxer sales started decreasing as well at that time and a lot of people became aware of how to take care of their natural hair. I realised that these products were designed for the African American market not the Nigerian or African market. When I came back, I was trying to import this, but the cost involved will not let me get the kind of affordability involved.

At what point did you develop a passion for making products?

I developed a passion when I was 15 years, I knew I was more science inclined, because I liked sciences more than English or History. In my A levels, I had distinctions in Sciences and Mathematics and I knew I was going to do Engineering. The reason why I chose Chemical Engineering is because one can be versatile in most fields and I chose it because I wanted to make products and be an entrepreneur and initially when I turned 16, I was thinking of going into cosmetics. There were cosmetics focused on white skins at that time.

What were the challenges you faced in the process?

Initially it was finding the factories, emailing lots of people in Asia and hoping that many people will respond. Then I had to go there and access the factories myself. The good thing is that because I was working in a factory, I knew what I was looking for. The transparency of the people and how opened they were, gave me the information I needed to know. I got a good factory and company to work for in Asia, and when I worked in the factory in Germany, every sample had to be flown in to you so I had the delay of three weeks before I actually got the products, tested it , give your feedback and get the next products. It was a very slow process, but then, by the time I started calculating what it will be to do it long term here , like adding transportation cost,

What is your view about Nigerian made products?

We have gotten to a time when Nigerians are looking inwards and since the naira dropped, everybody is looking for more places to visit in Africa. We need to buy things from ourselves and keep the money within if not we will be giving our economy outwards. The quality of Made-in-Nigeria products are improving and increasing, you have to be competitive to survive. You can’t just sell nonsense. Unlike before, people are trying to build a brand which is your reputation. I know that if I bring something under KUI, it is because they already liked my hair products. That is where you get people adding value and quality. You see people selling commodity or branded products that people could identify with.

Who are your key distributors?

I have organisations like Game, Modulus, Spar, Hubmart, Jumia, Yinka bodyline, and lots of shops in different places. So all our stuff are on our website. The way I started has been very much, the money that comes in, is what we use in running the company, so we don’t have massive investors or investments, from the money that comes in, we pay salaries and expenses that we carry on. I am quite frugal, I don’t want to spend what I don’t earn. When you get money from outside, sometimes, you forget that you need to pay that money back.

Our factory is in Ikeja. I go to the factory from time to time to see how things are going and there are rules that must be adhered to and standards are met. We are a small company that can be large eventually.

Where do you see this product going in the next five years?

I expect to have different range of products, we started with hair, hopefully, we will go into body or skin. My ideal mentor company is DOVE where they started with soap, body lotion so I want KUI to be a household Nigerian brand just as people know Dark and Lovely products, not just for natural hair .

Otobo

paying people in dollars and by the time you add all that and distributing it in Nigeria, it was just crazy. Even getting a license to bring in an imported product is ridiculous. That is why the Nigerian Government is encouraging people to patronise Made-in-Nigeria products.

I decided to make the product locally and get the right partner.

How has it been in terms of sales and marketing?

It has been good but it could be better.

Since we started two years ago, we are now in 150 locations and in Nigeria. Some people have seen us on Instagram and have reached out to us. It has been generally quite good.

However, when we started, that was when Nigeria financial crisis actually started. So the moment we were ready, NAFDAC was also ready. The cost doubled and so our revenue slashed. Because we were buying everything before the market crashed, so the money that was coming in was not the same value as before, there were certain things I had to pay for in foreign currency that I could not get here .

How are you coping with that now?

We try to absorb some of the cost because we were new, you can go to anybody and say buy my product for N1,000, it does not make sense.

How are the products doing in the market?

People are accepting it. We get a lot of feedback from our customers. The only feedback is from people telling their friends about it even on the social media. We have girls that will post it on their social media pages and repost it. The thing is that there is a movement of people telling their friends and families about it. When the financial crisis happened, the good thing is that a lot of brands competed with foreign brands and the prices of the foreign brands increased astronomically. Our product was N1,000 per bottle as compared with the N5,000 of the foreign brands. If you buy the set, it depends on who you are buying from, it’s about N3, 500 so I wanted to try and keep it affordable and a premium Nigerian product. It is not extraordinary expensive. Response has been

As an entrepreneur, what advice do you have for the youths who are thinking of going into the same field?

It really doesn’t matter the amount of cash that you have, it takes longer than you expect and it cost more money. I expect to be much bigger by now because I have been working on this since 2013/2014, it’s been four years of planning, trying and failing but when you are persistent, you can’t fail.

The youths must try and start manageable.

I started small with what I thought I could grow and see what your market says and be open to criticism from your customers.

Initially, you might think you are selling something that people really need, but you might not be necessarily giving them the product that they are looking for. Listening to customers’ feedback and adjusting, I think is key because in the end, the only thing that really sells is having a product that can sell itself. They can start small and access the market. Making the inputs at the market made me realise, they were complaining because I had tiny samples of the product which I was showing people, and I was trying to understand the market. The youths should not be afraid to call people that you may not necessarily need. They should try and sell first to people that are around them to see if it is a product that they can improve on because the quicker they try it, the more feedback they get.

36/COLLAGE

27.04.2018

L-R; Executive Chairman, Kano State Internal Revenue Service, Alhaji Abdulkadir Dambo; Chief Consultant, Supreme Management Training and Consultancy Services Ltd, Asiwaju Yinka Fasuyi;and Governor of Kano State, Alhaji Abdullahi Ganduje at the opening ceremony of the capacity and capability training workshop for staff of Kano State Internal Revenue Service in Kano...recently

L-R; Lady Evanglist Grace Okunlola; her husband, Rt. Revd Jeremiah Okunlola; Rt. Revd Effiong John. and Lay President, The African Church, Evang. Bukunola Okunowo during consecration of Bishops at the African Church Arch Cathedral, Broad Street, Lagos...recently

Kwara State Governor, Dr. Abdulfatah Ahmed (4th left) in a group photograph with Kwara State troupe for Art and Culture during presentation of Award won by Kwara State Council for Art and Culture at Drum Festival in Ogun State to the Governor...recently

R-L; Missionary In charge Nigeria, Maulvi Murabbi Afzaal Rauf Liberian, Alhaji Asimiyu AbdulSalaam; Amir, Ahmadiyya Muslim Jama’at Nigeria, Dr. Mash’hud Adenrele Fashola; and Principal Jami’atul Mubashireen Ahmadiyya IIaro, Maulvi Nadeem Ahmad, during the commissioning of E-Library of the missionary school in IIaro, Ogun State...recently.

Osun State Governor, Ogbeni Rauf Aregbesola, presenting a souvenir to the General Manager, Renewable Energy, NNPC, Mrs Clara Eminike during a courtesy visit to the Governor, at the Government House Osogbo...recently

L-R; Son, Mr. Solomon lbitayo lbidapo; widow, Mrs Jadesola lbidapo; Daughters, Prof. lbiyemi Olatunji-Bello and Mrs lbijoke Dawodu during the service of songs for the late chief Meshack Emiola lbidapo iat his residence in Surulere, ABIODUN AJALA Lagos....recently

L-R: Synod Secretary Very Rev. Williams O. Fasina;Deaconess Detoun Olubi;Representative of the Wife of Oyo State Governor, Rev (Mrs) Rose Oyedele; Diocesan Bishop, Rt. Rev. Olugbenga . Fafeyiwa; Very Rev. Olubukola Balogun; Diocesan Lay President, Remi Olukoga; and Mr. Abiodun Oshodi, at the 2018 synod of Diocese of Lagos Central, Methodist Church Nigeria in Lagos... recently

37/ THISLIFE

27.04.2018

Iheanyi Nwosu: Erudite Professor Bows Out at 65 Nduka Nwosu The details may have been lost in time and space. However, the argument has raged since that infamous rebellion when Lucifer averred it’s better to be king in Hell than servant in Heaven.

Between man and the devil, the question keeps resonating: which is ideal, that man should sell his soul to Satan in order to be known or that he should sell his soul to the same devil in order to know all things?

As little kids we were warned those going to dinner with Lucifer should go with long spoons.

Somewhere along the line, a certain breed of the Homo sapiens became cleverer than Mephisto dictating to him what it wanted-long life, affluence, wealth, power et al. Before now Lucifer would prescribe two of those three-wealth, children or long life but man having become wiser than Lucifer in his craft wants everything.

Beyond Faustus who desired just one wife, man has everything going for him- fame, power, wine, women, money and good health, just name it.

After that splatter of blood when a future queen of England spent her night in the street of Paris, Time essayist Lance Morrow wondered if man’s bargain with the devil was worth the trouble using fame and death as examples. Morrow and Goethe speaking through Faustus, averred that a bargain with the devil is Faustian. Take fame as an instance.

Being famous is among the basic human ambitions, Morrow reminds us.

Who-except for nuns and monks, say, who are content with God's radiant attention, sets out in life to remain obscure? “Fame has style, glamour, money, attention; ignites the sudden light of recognition in the strangers' eyes,” Morrow reflects.

Milton’s ‘Paradise Lost’ is all about a conspiracy to topple God and the acquisition of fame. Thereafter Goethe adopted Mephistopheles who like the Scarlet Pimpernel, has the magical powers of appearance and disappearance, as the chief negotiator of his kingdom. Here he made his deals with men and women represented by the ambitious and unfulfilled Dr. Faustus, not content to be ordinary and uneventful in man’s estate. Then came the redemption in ‘Paradise Regained.’

Man’s fall has been celebrated and dramatised by several religious systems just for him to know where he is coming from, where he is and where he is headed. Albert Camus’ epic work ‘The Fall,’ set in dramatic monologues, is the confession of Judge Penitent represented by Jean-Baptiste Clemence, who in spite of his high place in man’s estate, has fallen from grace.

According to Moses, or the writer of the ‘Book of Genesis,’ Adam and Eve disobeyed God preferring instead Lucifer. In Genesis, God contemplated the idea of making a new creature called man “in our image,” an experiment he found fulfilling and perfect. Like the imperfect beings we are, he rested his weak body on the seventh day.

He probably went to bed and fell into deep slumber after a sumptuous dinner. The perfect God wakes up only to discover his instruction has been ignored. He proceeds to pronounce a curse on something which some days ago had given him joy. Viewed from another perspective, you prayed for children and God responded. You left them for work and advised them to drink only milk but a deceptive character convinces them to do otherwise. You proceed to pronounce a curse on seven-day-old twins who are still mastering the art of growing up. How real?

We are meant to believe that having sinned, we must apologise to the scientist who went to the laboratory to invent a certain object he had conceived in his consciousness but rather ended up with a Frankenstein Monster while test running the new product. For all his mistakes and errors in the creation story, God compels man to apologise to him for making him imperfect.

Man not God sinned because God gave him the option of choice and will and having chosen to follow the Devil inherited death. Could the benevolent God have deliberately allowed this discordant note in creation including Lucifer’s rebellion?

Meaning Lucifer was ordained by Jehovah to play a character.

Do bad things come from Lucifer and good ones from Jehovah the Source?

Late Nwosu

So the God of all creation, built hell as an afterthought, a last resort when it dawned on him man had become rebellious and put him into this mess; God who was happy at the beginning, became so sad that he regretted ever creating man and built Hell for him. Really? He did not see all this coming to avert the catastrophe; yet he is God? So God gets angry like man, is jealous like a man in love with a woman, he has a chosen people called the Israelites and annihilates anyone that challenges them. So racism was instituted on earth from day one? He probably eats rice and beans and goes to toilet every morning since man was created in his image. For short, he has the attributes of man and sends earthquake or natural disaster when disgusted or made angry.

Then the most mystifying: God and Satan-his creation, go into battle almost always through good and bad people and the result could be predictable-Good represented by God always emerges victorious but only after Bad represented

by Satan would have dazed him so badly with bruises, giving him a run for his money. Wahala.

Where is this power of Satan coming from if not from God? Where is evil, Satan and his evil thoughts, including those of men and women coming from if not from the Omnipotent God? Is it possible the Almighty is carrying out an experiment he alone knows the end thereof, and death happens to be one such experiment?

The point being made is that the Omnipotent God cannot embark on a journey of regrets like man, who is limited in his consciousness, has made him to be. He does not belong to a section of humanity called the chosen ones because that amounts to racism. He is the God of Palestinians, Egyptians and Iranians just as he is the Chineke- God of my village Umukabia, Israel, Nigeria, blacks and whites. Our perception of God, death, the forces of good and evil comes from one source-God, who is in a superior position to interpret these manifestations beyond what they appear to be in man’s consciousness.

Evil will always be evil and good will always be good. Both proceed from God and are interdependent but as Joshua counselled, it will always be in the interest of man to choose good over evil. More importantly, God has a set of laws, the laws of cause and effect, karma or retributive justice through which he governs the universe.

Thus as you sow, you reap.

Is Hell therefore a place of everlasting damnation where fire rages permanently over the sinner? It is doubtful because it negates the principle of God of second chance, the God of positive change.

Besides, the only thing in nature that does not experience change is the unchangeable God. Satan became tired of Heaven and contemplated a kingdom. Some people who lived once in Ikoyi and are now unable to sustain the lifestyle have probably retired to Ajegunle whereas the ambitious

young men and women from Ajegunle have long relocated to Ikoyi. Nothing is permanent except God. Christ abandoned heaven to help man and even descended into hell to liberate the righteous trapped there. Hell with its raging fire and a cooling spot cannot be anything but a furnace of purification whether it takes a million light years or more to achieve.

Planets constantly burn out and new ones are formed. Fire and water have always been purifying elements. Have you ever been to a steel rolling mill or the shop of a black or goldsmith, to see how fire refines iron, upgrading base metals to noble ones? Can hell be a place where man clothed in an imperfect garment, the decaying flesh, every man in fact, is placed at a given category of refinement before the journey to heaven proceeds, what in Catholicism may be the equivalent of Purgatory? Can the experience of Hell be like a treatment from a cocktail of ingots, an admixture of God’s secret elements brewed in his spiritual laboratory, in an alchemical marriage with his end product-Man? Besides, the long queue to heaven is rendering Hell irrelevant especially when witches and wizards and all manner of criminals are getting the heavenly visa through grace and last minute prayers for remission of sins. See how the criminal on the cross like Faustus received a last minute grace and salvation from the Saviour Jesus. So what if those who had worked so hard to enter heaven lose their entry rights or had their visas stolen at the last minute? The benevolent God will roast them in the inferno forever?

The creation story is not exclusive to Christianity. Different religious movements that preceded Christianity believe man experienced a fall and needs a redemption through a learning and relearning curve. May be, just maybe, someday religion will agree with Mazzini’s observation: “Life is a mission; every other definition of life is false and leads all who accept it astray. Science, religion and philosophy, though still at variance upon many points, all agree on this, that every existence is an aim.” Thus before God we are all passing through different schools of life, Islam, Buddhism, Hinduism, Christianity and at the end of the day, will take a qualifying examination, where the position of the feather on the scale of justice determines the purity or otherwise of the heart of man aspiring for a place in heaven or hell.

Fact is we see God from the prism of the blind men who visited the elephant and held different views of what it could have been. The God Moses sold to the Israelites was the God that met their needs, something they could touch, call, smile or cry with. Is money not a god many including Christians worship? What would Pentecostalism look like without prosperity?

The God we all connect with after all is one of a personal experience, the problem solving God, irrespective of whether or not he was procured

in a shop in New Delhi India. If he must be sectional to fulfill our dreams, so be it. Yet, the universal God cannot be any of these things.

Milton made Lucifer appear a more attractive personality than his creator. If he had presented God as the Rose of Sharon, the Lily of the Valleys, the I am that I am, we would have been dancing in the air like Pastor Enoch Adeboye or the famous Archbishop Benson Idahosa.

Anything to the contrary reduces God to a provincial being, a powerful potentate very likely superior in strength to such little gods as Molech, Beelzebub and Lucifer, who in any case, derive their powers from the universal God, all ministering to the provincial needs of their satellite kingdoms.

Who wants God anyway? He is uneventful, unattractive to our illegitimate needs and desires.

Moses possibly wanted to give the people of Israel the type of God they desired and stay away from their Double Wahala. Very few people have been as successful elevating their God concept from a tribal personality to the God of Israel say, one of global acclaim. Amadioha, Ogun, Ndem and Abasi Isong, have failed to fly to global relevance whereas Chineke, Olodumare and Abasi easily equate with Jehovah, the God of Israel.

Erhabor Emokpae’s concept of the ‘Last Supper’ (oil on board-1963) was an attempt to see Christ from a native idiom or African perspective.

It backfired unlike Leonardo da Vinci’s ‘Last Supper’ universally accepted by Christians as a great work of art. Yet Emokpae’s ‘Last Supper’ like Da Vinci’s was equally world-class, a theme with universal acclaim as Vincent van Gogh’s ‘Irises,’ Salvador Dali’s ‘The Persistence of Memory’, and ‘The Great Masturbator’ as attested by art connoisseurs. Unlike da Vinci’s work hailed as a true representation of Christ’s ‘Last Supper,’ the other was to the Christian community a supper of witches and wizards, two sides of the same coin, a replication of Dr. Faustus.

Whereas Christopher Marlowe who first dramatised Faustus threw him into hell, Goethe redeemed his soul through grace and admitted him into heaven for his good works, belief in God and the quest for truth.

Beware of answered prayers in the quest for fame!

Indeed, we are all candidates of hell or heaven.

John Donne said any man's death diminishes us all because we are all involved in mankind, “and therefore never send to know for whom the bell tolls; it tolls for thee.” Associate Professor Iheanyi Nwosu’s funeral someday is the funeral of all those attending, a subtle reminder of the days of infamy. In the quest for fame however, the living very close to the deceased are glad that the funeral has been transformed to a carnival seeing the celebrities attending the occasion. They are assured that there is another day of joy in heaven where the dead will be resurrected sitting somewhere close to Jesus.

Thus as the translated proceeds on this journey, since death is actually a transformation to another life, I would have procured a few human heads to go with him and minister to his needs. Sadly he is a born again faithful of the Methodist Church, who has long accepted Christ as his personal Lord and Saviour. I thought of offering him another gift- the ‘Egyptian Book of the Dead,’ where the passenger to the world beyond seeks a guide from a collection of spells or magic formulae which will enable the soul navigate the afterlife, protect and aid him in the hereafter. I also thought of the book‘Presentation of Self in Everyday Living’ by Ervin Goffman, his beloved must read in his early days in the Sociology class.

Unfortunately none of these comes close to the Book of all books, The Bible, his guide in overwhelming the dark princes of the universe.

He will, like the character called Christian in John Bunyan’s ‘Pilgrim’s Progress,’ tell his story better by and by.

My parting gift to him, a reminder to IJ and her children and all those mourning at this time, is Thomas ‘Moore’s ‘Farewell But Whenever’: “Let Fate do her worst, these are relics of joy, Bright dreams of the past, which she cannot destroy; Which come in the night time of sorrow and care, And bring back the features which joy used to wear. Long, long be my heart with such memories filled! Like the vases in which roses have once been distilled- You may break, you may shatter the vase, if you will, But the scent of roses will hang round it still.”

38/XTRA

27.04.2018

Ikpeazu Urges Corps Members to Shun Drug Abuse, Other Vices Emmanuel Ugwu in Umuahia Abia State governor, Dr. Okezie Ikpeazu, has appealed to members of the National Youth Service Corps (NYSC) posted to the state to avoid indulging in those vices that could cut short their lives as they begin their service year.

He gave the advice while addressing the 2018 Batch “A” corps members deployed to God’s Own State. The 2,385 corps members comprising 1,120 males and 1,265 females took their oath of allegiance as they commenced the orientation programme preparatory to their service.

The governor, who was represented by the Commissioner for Youth Development and state Chairman NYSC Governing Board, Mr. Ike Anyatonwu, said that it was imperative for youths to shun any life style that would prevent them from living a fulfilled life.

“You must therefore shun those vices that have

the tendency of truncating the lives of youths such as the use of hard rugs, cultism and armed robbery,” he said, adding that the corps members should rather imbibe those virtues that would mark them out as outstanding individuals.

Ikpeazu said that Nigerian youths “are no longer future leaders but today’s leaders” hence they should take advantage of their training in the orientation camp to acquire leadership skills.

“This leadership role starts here on camp as some of you will take up various leadership roles during and after your orientation course.

You must therefore brace up to this challenge,” he said.

The Abia governor further advised the corps members to also take hue interest in skills acquisition training as “this will greatly enhance your potentials and create opportunities of employment during and after the service year.”

Earlier in her address the NYSC state director,

Mrs. Francesca Ifon, said that the 2,385 corps members that registered at the close of registration on April 19, 2018 have adjusted to the regimented camp life hence “we are of a firm conviction that they would be disciplined throughout the duration of the orientation course.”

She advised the corps members to fully participate in all camp activities as contained in the orientation schedule, including skills acquisition and entrepreneurship development.

Meanwhile the corps members are contending with accommodation problem as rain storm has destroyed the female hostel as well as the camp pavilion and other structures.

The state director had conducted the commissioner round the permanent orientation camp to see the damages done to the structures by the rain storm that hit the camp few days before the swearing-in ceremony.

Ikpeazu

WAV Builds Capacity of Future Oil Industry Workers Peter Uzoho As part of effort to encourage participation of more Nigerians in the oil and gas industry, West African Ventures has trained 26 youths in different operational areas of the oil and gas sector to ensure effective implementation of the human capacity development plan of the National Content Development Monitoring Board (NCBMB).

The 20 months intensive training which took place in Lagos, Warri, and Offshore facilities, between August 2016 and April 20, 2018, was designed to achieve competence building (Classroom Training) and on the job training in order to raise the capacity of young Nigerians intending to work in the oil and gas industry.

With partnership from Chevron and the NCDMB, under the Sonam Development Project Pipeline and Okan Pig Receiver Platform Transport and Installation contract (SONAM/NC HCD), the beneficiaries of the programme included graduates, artisans and tutors selected in line with the requirement of the NCDMB human capacity development guidelines.

Out of the 26 beneficiaries, 18 were professionals: four trained in cost control, two in document control, four in HSE, two in Construction, two in Engineering, and four in QAQC, while the remaining eight were trained under the artisans’

Some of the trainees flanked by their trainers and officials of West African Ventures during one of the training sessions in Lagos...recently

category as welders.

Speaking at the close-out ceremony in Lagos, Deputy Managing Director, West African Ventures, Mr. Michael Amaeshike, explained that the training was also set up to fulfill in part, the requirement of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, which demands

provision of additional human resources capacity development for some categories of Nigerian citizens outside the contractor personnel, in the course of executing a major project.

Amaeshike who disclosed that over $550, 000 was expended on the programme, added; “West African Ventures went all out to train the lucky

participants given its belief in retaining value in the country since the future of the sector lies in the hands of Nigerians who are attuned to development.”

Commenting on the programme, Executive Secretary, NCDMB, Simbi Wabote, represented by the Manager, Human Capital Development, NCDMB, Mr. Maurice Iwhiwhu, said the training marked a water-shed in the delivery of the mandate of the Nigerian Content Development and Monitoring Board and praised West African Ventures and Chevron for providing a platform for the training and development of young Nigerians.

While noting that the training will go a long way in creating a sustainable industry, Wabote pointed out that the competency of all trainees was assessed quarterly at the close of training using the various NCDMB assessment evaluation sheets and were also carried out in agreement with Client Representative – Chevron and the representative of the Board.

The Company Secretary, WAV, Mr. Stanley Onuosa, said two of the professionals were offered automatic employment in WAV in line with the company’s decision to retain local value retaining local value, noting that one of the artisans had been retained by the training school, Glassfa Continental Limited.

Online Publishing Remains Vital to Increasing Readership in the Country, Says Author Ugo Aliogo As part of effort to improve the declining reading culture in the country, an author Abraham Kola-Amodu, has stated that there is need for increased focus on online publishing.

Kola-Amodu who disclosed this recently in Lagos during the launch of his book titled: ’30 Before 30’ said readership can be improved, stating that there is a steady increase in the readership culture in the country.

He called on government and publishing houses to shift focus on online publishing, stating that the digital age has brought convenience in the way things are done especially reading.

“I agree that readership can be improved in Nigeria but I also know that there’s a steady, albeit slow increase in the readership slope in the country. Either way, I think a good way to increase readership is to do more of e-publishing.

Considering the fact that we live in the digital age, we live most of our lives online. Therefore, majority of what we do, including reading, has to be convenient,” he noted.

Speaking on the focus of the book that was

Author of '30 Before 30', Abraham Kola- Amodu giving a brief review about the book

launched, Kola-Amodu, said his expectation is that the book would give every reader the positive boost they need in their day/week, adding that it would open the minds of the

readers to the fact that life can be a bit more consistently enjoyable if they allow it.

He further explained that the book would encourage every teenager that just attending

university is not the only road to success, neither is being a ‘science student’, stressing that he expects the book to give every middle aged adult the nudge that it’s not too late to reset priorities, and enjoy life more.

He encouraged every older adult to be more open to newer schools of thought on enjoying and living life, “I hope it encourages me and everyone to constantly update that “30 before 30”, “40 before 40”, “50 before 50”, “80 before 80” list as much as we all can.”

Kola-Amodu, added: “A while ago, I decided to take time off work, and travelled for a while. It might not have been a smart financial decision, but it birthed this book. All through my time off work, I realised I was going back to those thoughts I put down in words to help me through the difficult days.

I was using the lessons I had learnt and put down in writing, as references to situations I was finding myself in. Seeing that some of my former colleagues had encouraged me in the past to put those words together in a book, I also listened to myself in unison and decided to put it all together in one book.”

2TTEE Releases New Album Odawayi Ukandu Hip hop and rap artiste, Oladeji Taiwo who goes by the stage name 2TTEE, is thrilled to announce the release of his new EP album titled 'Ibadan' to the Nigerian music market.

The graduate of the University of Lagos is managed by Telepse Music, a Lagos-based company specialised in talent management, media marketing and brand consulting founded in 2014.

2TTEE as he's called depends on album sales and fans support as Telepse currently manages 2TTEE for successful promotion.

While at the listening party organised for the new album and a fund raiser, a critic at the album listening party, made mention of the controversy that surrounds one of his single track 'Jesus Never Had Sex' and it requires good understanding of the lyrical content.

Ibadan is a five track album which makes it an extended playlist (EP). The album genre

is a blend of Afro-pop, Urban Hiphop, Rap and Rnb. The album title is influenced by the artiste background coupled with the aim to promote the ancient city of Ibadan to the world.

The five track album is a product of a five-year compilation since the release of the artiste’s previous album. The album singles are: Naughty, Graduate, Ibadan, Jesus Never Had Sex and Kakamity. ‘Graduate' is an afro-pop single already released by the artiste.

Taiwo

39

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Inherent Risks in Debt Restructuring Hide Original Message Glenn Ubohmhe cautions against the risks associated with Nigeriaâ&#x20AC;&#x2122;s debt restructuring The federal government, through the Debt Management Office (DMO), recently signalled its intention and indeed commenced the restructuring of its total debt portfolio with a view to securing an â&#x20AC;&#x153;optimalâ&#x20AC;? mix of local and foreign debt components. The scope of the exercise involves refinancing part of the existing local debt with proceeds of new Eurobond issue as well as preference for foreign currency loans in financing budget deficit up to a defined â&#x20AC;&#x153;optimalâ&#x20AC;? threshold of about 60/40 per cent share respectively from 73.36/26.64 percent as at December 2017.

The economic rationale for a sizeable mix of foreign debt component in the total debt stock is quite tantalizing, not difficult to measure and seem to make a great deal of sense. One of the overarching objectives for embarking on debt restructuring, as outlined by the DMO, is to reduce the huge interest burden on debt servicing occasioned by high interest rates in the domestic market. An extraction debt service cost can easily be made from the 2018 budget in order to put the argument in perspective - N1.76 trillion was earmarked as interest payment on domestic public debt in addition to interest on external public debt of N254 billion.

These are mind boggling sums for debt servicing alone. Other key extenuating factors for this policy direction centre on the need to taper the size of government participation in the domestic debt market for enhanced accessibility by the private sector, moderate heightened pressure on interest rates which government borrowing usually precipitates and also boost foreign reserves through capital account component. These are very compelling arguments, indeed.

However, there are more forceful countervailing arguments why the decision to ramp up our foreign debt may be counter-productive as there are plausible reasons why the eventual policy outcome may veer off markedly from expectations.

To start with, the assertion that a switch from local to foreign debt will reflect in reduced cost of debt servicing is somewhat questionable. That assertion would be correct if the naira equivalent of total debt stock is not significantly higher, or even less, post-restructuring. True, government will appropriate the benefit of interest rate differentials between domestic and international debt markets debt on the substituted portion of local debt but as long as the total debt stock trends upwards, budget allocation for interest servicing may not reduce. Therefore, what is required to sustainably manage interest and overall debt burden is a more frontal strategy of reverence for fiscal discipline - 26% allocation for debt servicing as projected in the 2018 budget is inimical to growth (please reserve your comment on debt to GDP ratio). It is against this backdrop that the admonition by Abraham Lincoln on March 4, 1843 to the people of Illinois fittingly finds expression - â&#x20AC;&#x153;the system of loans is but temporary in its nature and must soon explode. It is not only ruinous while it lasts, but one that must soon fail and leave us destitute. As an individual who undertakes to live by borrowing soon found his original means devoured by interest and next, no one left to borrow from, so must it be with governmentâ&#x20AC;?.

A perceptive appreciation of Lincolnâ&#x20AC;&#x2122;s statement should nudge us towards some sort of enlightened introspection. Rather than a blanket rebuttal of the crucial role that debt plays in financing critical infrastructure, Lincolnâ&#x20AC;&#x2122;s statement is more pointedly a rebuke of unbridled accumulation of debt. Debt-to-asset transformation is an ideal but sometimes such transformation is illusory especially in a jurisdiction where public accountability is

Glenn

in short supply and where consumerism takes precedence over labour-for-posterity.

Again from another and crucially important perspective is the potential risk factor of excessive foreign currency exposure.

Significant foreign currency loan exposes the economy to external shocks and creates vulnerabilities that could upend macroeconomic stability. Low interest rate has often underpinned excessive exposure to foreign currency borrowings (whether by the private or public sector) and constitutes a key trigger to most financial and macroeconomic crises â&#x20AC;&#x201C; the Emerging Market Economic (EME) of 1997 and the more recent Greek debt crises are classic reference points. Therefore, the bias for foreign currency loan (and debt in general in this instance) may not be an optimal one, if there is no sustainable strategy around it and developmental outcome is by every stretch doubtful.

Understandably, the size of government borrowing from the domestic debt market could potentially influence the direction of interest rates but it is by no means the only factor. The level of money supply in the economy, inflation, exchange rate, overall external stability and other macroeconomic factors feature prominently in determining interest rates trajectory. Substitution of local debt with foreign debt will not reduce money supply. In fact, foreign currency borrowing exerts more expansionary impact on the monetary base in this particular instance.

Given this scenario, what will therefore be the likely policy response by the monetary authority to excess system liquidity

induced by fiscal expansion as is currently the case? Other variables to bear in mind include economic imperatives and political expediency of maintaining stable exchange rate in or close to an election year, accentuation of demand for the greenback to oil the political machines, heightened political risk perception by investors as we approach the forthcoming elections, the possible reversals of foreign portfolio investments and ultimately the potential adverse impact on foreign reserves. It will be interesting to see the reaction of the monetary and macro-prudential authority â&#x20AC;&#x201C; the CBN. In my view, the monetary authority is most likely to maintain its liquidity sterilisation policy using both conventional and nonconventional tools based on aforementioned reasons and also sustain relatively attractive premium on yields to retain foreign investments and mop up excess system liquidity.

Notably, the pervasive influence of international oil price will also weigh considerably in determining the direction of interest rates. This brings into sharp focus the immediate threat to crude oil price in the ensuing geo-economic tariff war between US and China. While the impact of the impending trade war (if elevated beyond rhetoric) on Nigeriaâ&#x20AC;&#x2122;s non-oil trade balance is yet unclear, a depressed global trade arising from tariff war could have far reaching consequences on global output and by implication global oil demand and Nigeriaâ&#x20AC;&#x2122;s external balance. In that event, policy intervention will be required to increase capital account buffer for improved reserves with recourse to attractive yield on domestic market instruments to spur

foreign inflows in order to achieve external balance objective. In the final analysis, CBNâ&#x20AC;&#x2122;s response with respect to rates will largely depend on prioritisation of policy choices but my bet is that rates are not likely to trend down below the current corridor, in the short to medium term.

Therefore, debt restructuring may not have the desired impact on domestic interest rate as envisaged. As matter of agreeable necessity, finding that optimal debt mix may become secondary if fiscal prudence takes centre stage in resource management.

In conclusion, since there is no one-handed economist like Harry Truman (a former American president) famously quipped, I will also conclude this article by saying that debt restructuring may be beneficial on the one hand but on the other hand there are potential risks especially if there is the developmental impact is hazy. We may end up in another (foreign) debt trap without realising the much envisaged benefits of debt restructuring.

-Glenn is a chartered member of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation Nigeria (CITN).

He obtained B.Sc. (Accounting â&#x20AC;&#x201C; 2nd Class Upper) from Ambrose Alli University, M.Sc. (Energy Studies with specialisation in Energy Finance) and LLM (Petroleum Taxation & Finance) both from the Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP), University of Dundee, UK and holds an Executive MBA of the Lagos Business School

T H I S D AY • FRIDAY, APRIL 27, 2018

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CITYSTRINGS

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

Member, Lagos State House of Assembly, Hon. Setonji David, laying the foundation block. Watching are, Managing Director, Palmnto Nigeria Limited, Kalu Okorafor, former Lagos State deputy governor, Sinatu Ojikutu and Director of Palmnto Nigeria Limited, Barrister Jide Adefesowa

Opening up Badagry to the World

As the gateway to neighbouring countries on the West coast, Badagry is set to become a major business hub with the flag-off of the Oba Akran shopping mall, writes Sunday Ehigiator PALMNTO Nigeria Limited is a dynamic multi-discipline company involved in building/ civic engineering work, electrical and mechanical engineering, and telecommunications engineering and uses cutting-edge technology to deliver projects all over Nigeria.

Situated along the Lagos-Badagry-Seme Boarder Expressway in Badagry, the double phased project is to be developed by PALMNTO Nigeria Limited with the maximum support from Badagry Local Government in conjunction with Lagos State Government.

The first phase of the project which is estimated to cost N18 billion, is to harbour lockup shops, plazas/offices, warehouses, banking halls, police post, clinic, fire station and so on. While the second phase is estimated to cost N45 billion, which is to be expended in the construction of a five-star hotel, schools and housing estates which would be affordable in stratifications to all.

The ground breaking occasion which was hosted by HRM, De Wheno Aholu Menu-Toyi 1, the Akran of Badgry Kingdom (Gbabi), had in attendance dignitaries and investors from within and outside Nigeria amongst whom were; The governor of Lagos State, Mr. Akinwunmi Ambode ably represented by

Alhaji Musiliu Folami, Hon. Commissioner for Local Government and Community Affairs, Lagos, former deputy governor of Lagos State, Alhaja Sinatu Aderoju Ojikutu, HRM, Oba Josiah Aina, Oloto of Oto-Awori Kingdom, HRM, Oba Oyekan Adekanmi Ajose, Alapa of Apa Kingdom, Chief V.O. Odinaka, Vice President, Amalgamated Traders Association Lagos (ATAL), as represented by Mazi Andrew Okpara, Chairman of ATAL, Executive Secretary, Association of Bureau de Change Operations in Nigeria, ABCON, Mr. Uduna Cletus, First Bank, NPF Microfinance Bank and many more.

Delivering a goodwill message on behalf of ATAL, Andrew Okpara said “The president, the executives and members of ATAL are happy to be associated with PALMNTO Nigeria Ltd on their epoch foundation laying ceremony of Oba Akran International Shopping Mall by His Excellency, Mr. Akinwunmi Ambode. We are Igbo people, we are in business that is why our brother PALMNTO who is a good observer came down to Lagos and arranged with us to come and champion this market. So I am assuring the people of Badagry, that all the people in Lagos will come and champion this

The first phase of the project which is estimated to cost N18 billion, is to harbour lockup shops, plazas/ offices, warehouses, banking halls, police post, clinic, fire station and so on. While the second phase is estimated to cost N45 billion, which is to be expended in the construction of a five-star hotel, schools and housing estates which would be affordable in stratifications to all

international market. And we assure you that this market will pick-up soonest. So what we need is your cooperation, we are all brothers and sisters, we are together, we are doing everything together. When we come here and we are treated well, we will be happy to stay, and everyone will be happy with our stay, small time we will start building houses and further developing Badagry. We are glad that you invited us to come and develop this market and we wish to assure you of our partnership in this laudable project as we hope for favourable working conditions. Thank you and God bless you.”

In another goodwill message, Uduna Cletus representing ABCON, congratulated and felicitated with PALMNTO Nigeria Ltd, amidst pledging strong supports and partnership needed for the completion of the project.

In her goodwill address, former deputy governor of Lagos State, Alhaja Sinatu Aderoju Ojikutu said, “this foundation that we are laying today, I am very happy about it. Because, this was one of the things we had in mind for Badagry during my own time. Badagry has a sea port. It has the lagoon here. So, the development in Badagry should be like the developments in Lagos Island, development in

T H I S D AY • FRIDAY, APRIL 27, 2018

41

CITYSTRINGS Epe, and I am happy now that this international mall is coming to Badagry because, it is going to open a lot of businesses which will develop Badagry. And it is our prayers that the people of Badagry would receive it with grace. I have a factory there, at Arabagbon that I had to close down because the environment was not good. No power, and NEPA was not there. I pray that, this will not be a stunt project by the grace of God. As we have come here today to lay the foundation today in the administration of our son Governor Akinwunmi Ambode, I am praying that he would be around for a second term and be the one to open this international mall by the grace of God. Also, our father Akran and all of us will be there too by God’s grace.”

Rendering his address, the Managing Director and Chief Executive Officer of PALMTO Nigeria Ltd, Elder Kalu O. Okorafor said, “The facilities that would be provided here in the mall are world class standard. The environment is serene, aesthetically pleasing with laid out landscape. The intention is to provide a work place that is environmentally friendly, in all its ramifications. We are now at a point of executing a project that would be a reference point by professionals in the construction industry/estate managers when completed.” He went further by using the “medium to assure members of Amalgamated Traders Association, Lagos (ATAL), Association of Bureaux de Change Operators in Nigeria (ABCON), National Union of Banks, Insurance and other Financial Institution Employers (NUBIFIE) that “we will at all times uphold the confidence they repose in us as well as the project. We thank you all,” adding that “the scope of Oba Akran International Shopping Mall is big. We assure you, that profit-wise, we are for a win-win situation for the stakeholders, Once again, we say thank you for believing in us and sharing in this broad vision.”

Speaking to journalists after the occasion, the Director, PALMNTO NIG’ LTD, Barr.

Babajide Adefeso said, “It was the intervention of God that brought me here today. I got this vision through my Pastor, Pastor Amos Ade of Christian Revival Centre. He said I should tap into the fertile land of Badagry, that I should put my investment into Badagry Kingdom. He said I would be part of the people that would develop Badagry. It was through that, I met Engineer Okorafor in conjunction with Badagry Local Government Council on prevailing on this project. I met with the Oba, and he gave us his consent to be able to put up this multi-billion naira project. So, we have a land of 93 acres, of which we plan to build hotels, shopping mall, storage facilities, and in conjunction with the council, we are close to the port, where we will have ferries that will take goods and services from Badagry to any part of the country. We will like people to come and join us and likewise invest in this great venture. You can invest in any aspect you deemed suitable.”

In fact, the idea of remodeling the entity, and boosting one of the untapped resources of Lagos, into a dreamland, is one that had endured over the years, as informed by De Wheno Aholu Menu-Toyi 1, the Akran of Badagry Kingdom. According to the monarch, while addressing some investors, government officials, politicians, bank executives, traders and musical groups, who formed a sort of kaleidoscope at the fore-ground of the massive land during the ground-breaking ceremony, said that the project was one of the ways he intended to etch his name permanently across the pages of history.

In his words, “The desire to have a legacy which will serve to immortalise my name and of course immortalise the historic royal institution of Badagry, has, for a very long time, been nursed by me. At a point in time, I remembered the 93-acre family land on which we are today, and thus, came to the conclusion that such a parcel of land could be used to provide the legacy of my dream. Thereafter, an effective machinery was set up to produce technical, legal and financial partners and in the process, PALMNTO Nigeria Limited emerged.

Having achieved that, a working committee was set up to work with the technical partners and charged them with the responsibility of meeting statutory/legal, environmental, governmental and traditional requirements.

To my satisfaction, the parties collectively and assiduously worked as expected and produced the required results.”

PALMNTO, the consortium handling the project, was no less enthusiastic and emphatic

A cross section of participants at the event

Participants at the event

The first idea about this project is human development. Secondly, Badagry is an open area, there are lots of potential in this Badagry zone that have remained untapped. That is why our company on realising the potential, and looking at the future, we are trying to consolidate and bring these things into fusion.

This idea is to open up Badagry and the sub West African region Director of Palmnto Nigeria Limited, Barrister Jide Adefesowa

about the driving force of the project. Echoing the sentiments of the Badagry monarch, each of the firm’s officials were unequivocal about the success of the venture, given the potential of the environment and the fact that its resources were greatly untapped and presented huge business opportunities.

Also, speaking to journalists after the event, the CEO, PALMNTO Nigeria Ltd, Elder Okorafor said, “the first idea about this project is human development. Secondly, Badagry is an open area, there are lots of potential in this Badagry zone that have remained untapped. That is why our company on realising the potential,

and looking at the future, we are trying to consolidate and bring these things into fusion.

This idea is to open up Badagry and the sub West African region. Sometimes, people come from all over sub West African countries, especially countries under ECOWAS; go all the way to Aba, Onitsha, and Lagos Island to make their purchases. We are developing this project that would enable better options.

The duration of the first phase of this project is 24 months, and could have an addition of six months depending on logistics. The structural design of this place is not going to be like other markets that you are used to,

it’s going to be a Dubai-like kind of market with classic packaging. Even if you selling yam here, the quality of the yam would be great and the packaging of the yam would be very hygienic.”

At exactly 2p.m., Hon. Setonji David, representing Badagry constituency at the Lagos State House of Assembly plastered two blocks together to form part of the construction foundation and afterwards in the company standing in the middle of many other dignitaries, he unveiled the foundation stone. These actions symbolised practical steps towards the realisation of the vision, which when attained, would surely be a major component of the much-advertised Lagos Dream.

T H I S D AY Ëž , APRIL 27, 2018

42

BUSINESS/MONEYGUIDE

CBN Unveils Regulatory Framework for USSD Obinna Chima In furtherance of its mandate to develop and enhance the security of the electronic payments system, the Central Bank of Nigeria (CBN) yesterday released the framework for the use of the Unstructured Supplementary Service Data (USSD).

The implementation of the framework takes effect from June 1, 2018. The CBN disclosed this in a circular dated April 17, 2018, signed by its Director, Banking and Payment System Department, Mr. Dipo Fatokun, a copy of which was posted on its website yesterday.

It explained that the framework became necessary because mobile phone had become a veritable tool for enhancing financial inclusion with the advent of mobile payments, m-commerce, m-banking and other implementation for financial transactions based on mobile telephony.

According to the central bank, providers of mobilebased financial services have

options of adopting varying technologies for enabling access and transmitting data including Short Messaging Service (SMS), USSD, Interactive Voice Response (IVR) and Wireless Application Protocol (WAP), stand-alone mobile application clients and SIM Tool Kit (STK).

It, however, noted that providers of mobile telephony-based financial transactions had been increasingly adopting the USSD technology while the range of services supported by their mobile transaction services, using the USSD channel, was broadening rapidly.

Among services provided through the channel include, account opening, balance and other enquiries, money transfer, airtime vending, bill payment, etc.

The USSD technology is a protocol used by the GSM network to communicate with a service providerâ&#x20AC;&#x2122;s platform. It is a session based, real time messaging communication technology, which is accessed through a string, which starts normally with asterisk (*) and ends with

a hash (#). It is implemented as an interactive menu driven service or command service. It has a shorter turnaround time than SMS, and unlike SMS, it does not operate by store and forward which indicates that data are neither stored on the mobile phone nor on the application. â&#x20AC;&#x153;USSD technology is considered cost effective, more user-friendly, faster in concluding transactions, and handset agnostic â&#x20AC;&#x153;The vast applications of the USSD technology, in terms of available services have raised the issue of the risks inherent in the channel,â&#x20AC;? it added.

According to the central bank, its implementation in Nigeria had created multiple USSD channels to customers, thereby increasing their exposure to risk, without a common standard for all. â&#x20AC;&#x153;This framework therefore, seeks to establish the rules and risk mitigation considerations when implementing USSD for financial services offering in Nigeria,â&#x20AC;? it added.

EmeďŹ ele

MARKET INDICATORS MONEY AND CREDIT STATISTICS

â&#x20AC;ŚProvides N80m Grants to Rice Farmers in Ekiti Victor Ogunje Ă&#x201C;Ă&#x2DC; Ă&#x17D;Ă&#x2122; Ă&#x2022;Ă&#x201C;Ă&#x17E;Ă&#x201C; The Ekiti State Chapter of the Rice Farmers Association of Nigeria (RIFAN) has distributed farm inputs worth over N80 million as loans to no fewer than 174 rice farmers in the state under the Anchor Borrowersâ&#x20AC;&#x2122; Programme (ABP).

The State Coordinator of the Rice farmers Association, Mr. Rotimi Kolawole who made this known in Ado Ekiti, said that the beneficiaries currently are cultivating 400 hectares of rice farms, adding that the farmers were expected to harvest a yield of over 1600 tonnes this season.

Kolawole expressed gratitude to the state government for its support for the thriving rice cultivation being witnessed in the State, saying that it was exceedingly praiseworthy that on numerous occasions, the Deputy

Governor, Professor Kolapo Olusola led several other relevant public officers on solidarity visits to the farms.

According to him, the second phase of the programme would commence immediately, adding that interested farmers could obtain expression of interest forms at any of the offices of the State Agricultural Development Programme (ADP) in their locality.

In his remarks, the State Commissioner for Agriculture and Rural Development, Mr. Kehinde Odebunmi charged the benefiting farmers to use the farm inputs judiciously, stressing that they must be conscious of their loans repayment plans and avoid unnecessary complication that may arise due to negligence.

The Commissioner said the state government would continue to support farming,

adding that the focus was to guarantee food security and productively engage youths in the state.

Odebunmi assured that government would also continually provide technical and extension services to the farmers towards achieving maximum yield possible and to also prevent misuse of inputs.

He noted that agriculture remained a veritable option to productively engage youths and consequently reduce the challenge of unemployment adding that the programme would encourage youthsâ&#x20AC;&#x2122; participation in commercial agriculture.

Inputs distributed to the farmers included Napsak sprayers, rice seeds, surface water pump and accessories as well as herbicides and fertilisers.

Sigma Pensions Assures Retirees of Support Femi Ogbonnikan Ă&#x2DC; Ă&#x152;Ă?Ă&#x2122;Ě&#x2039; Ă&#x2022;Ă&#x;Ă&#x17E;Ă&#x2039; Sigma Pensions Limited, one of the Pension Funds Administrators has offered to add value to its retirees under its scheme.

Addressing beneficiaries of the scheme at a â&#x20AC;&#x153;retiree forumâ&#x20AC;? with the theme: â&#x20AC;&#x153;A seamless path to a happy retirementâ&#x20AC;? held in Ogun State yesterday, the Head, Business Development Division West, Sigma Pensions, Mrs. Mabel George underscored the importance of keeping close relationship and adding values to the retirees under its scheme as key to its vision and mission statement.

According to her, the essence of the forum was to keep the retirees abreast of the current trends in the pensions administration and also afford them and those that close to retirement am ample opportunity to ask questions that are relevant to their funds in the care of the Sigma Pensions Limited.

Unlike the stresses that often characterised the old pensionâ&#x20AC;&#x2122;s

scheme, where pensioners, including bedridden retirees were asked to appear physically for verification, George stressed that Sigma Pensions was focused on providing a decent living for its retirees under its scheme. â&#x20AC;&#x153;We are poised to add value to you. To know how we can make improvement in the pensionâ&#x20AC;&#x2122;s payments, we have come here to educate you all.â&#x20AC;?

She added: â&#x20AC;&#x153;Eligibility for benefit payments are different depending on ages, time frame in retirement, ministry or establishment, sex, retirement based on medical ground, employment termination, which is 25 percent of the pensions, amount in savings account of the pensions company, among others. â&#x20AC;&#x153;We want to ensure that your pensions are paid as at and when due before 21st of every month. â&#x20AC;&#x153;But I want to urge you to always ensure that you do proper documentations. As pensions administrators we will advise you on what us best fit.

Donâ&#x20AC;&#x2122;t be swayed, ask questions and we will oblige you where and when to come on. â&#x20AC;&#x153;For instance, if you have a change either in your mobile number or home address quickly get back to us. â&#x20AC;&#x153;If there are discrepancies in your date of birth quickly reach out to us. Give us updated information. They are minor things you can do,â&#x20AC;? George added. In his remarks, the Senior Business Development Manager of Sigma Pensions Limited, Mr John Igiehon, said the rationale behind the forum was to bring together retirees and give opportunities to them to know what they want to know during the interactive discussions. He stated that the Sigma Pensions Limited was established to add exceptional values to the retirees.

The Chairman of the occasion, a retired Assistant Commissioner of Police (ACP), Oshun Wesley, expressed appreciation to the Almighty God that he and other retirees are still alive till today.

(MILLION NAIRA)

AUGUST 2017 Broad Money (M2)

21,851,454.31

-- Narrow Money (M1)

9,890,813.10

---- Currency Outside Banks

1,523,239.91

---- Demand Deposits

8,367,573.19

-- Quasi Money

11,960,641.22

Net Foreign Assets (NFA)

9,732,990.89

Net Domestic Assets(NDA)

12,118,463.42

-- Net Domestic Credit (NDC)

26,821,446.81

---- Credit to Government (Net)

4,824,226.22

Ě&#x2039;Ě&#x2039;Ě&#x2039;Ě&#x2039; Ă?Ă&#x2014;Ă&#x2122;Ë? Ă&#x153;Ă?Ă&#x17D;Ă&#x201C;Ă&#x17E; Ă&#x17E;Ă&#x2122; Ă&#x2122;Ă Ă&#x17E;Ë&#x203A; Ě&#x2122; Ă?Ă&#x17E;Ě&#x161; Ă&#x2013;Ă?Ă?Ă?

7,834,536.74

Ě&#x2039;Ě&#x2039;Ě&#x2039;Ě&#x2039; Ă?Ă&#x2014;Ă&#x2122;Ë? Ă?Ă&#x17D;Ë&#x203A; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x201C;Ă&#x153;Ă&#x153;Ă&#x2122;Ă&#x153; Ă?Ă?Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17E;Ă? Ě&#x2122; Ě&#x161;

-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;

MANAGED FUNDS Month Inter-Bank Call Rate

AUGUST 2017 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 AT, WED, APRIL 25, 2018 The price of OPEC basket of fourteen crudes stood at $70.50 a barrel on Wednesday, compared with $71.34 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

T H I S D AY ˾ , APRIL 27, 2018

43

MARKET NEWS

Access Bank’s N29 Billion Dividend Payout Excites Shareholders Goddy Egene and Nosa Alekhuogie

dividend of 25 kobo and a final one of 40 kobo, bringing the gross dividend for the year to N18.8 billion.

Speaking at the 29th annual general meeting (AGM) held in Lagos, the shareholders commended the dividend payout and the bank’s attainment of N4 trillion total assets.

According to them, the remarked that the N4 trillion

Shareholders of Access Bank Plc on Wednesday said they were pleased with the bank’s consistent dividend policy which has made them to receive dividend every year.

Access Bank Plc recommended a total dividend of 65 kobo for the year ended December 31, 2017. An interim

balance sheet mark achieved by the bank had solidified its position as a major player in the financial sector.

The shareholders that spoke included contributed at the meeting include Mr. Adebayo Adeleke of Independent Shareholders Association of Nigeria (ISAN), Mrs Bisi Bakare of the Pragmatic Shareholders Association of Nigeria (PSAN)

and Muktar Muktar of Trusted Shareholders’ Association of Nigeria (TSAN).

The bank posted a gross earnings of N459.1 billion, profit of N61.991 billion in 2017. Shareholders’ funds and customer deposits stood at N515 billion and N2.2 trillion respectively.

Speaking at the AGM, the Group Managing Director/

PRICES FOR SECURITIES TRADED AS OF

CEO of the bank, Herbert Wigwe said: “We are having increase on all indices; Earnings per share, cost of risk and capital adequacy ratio which are the major ratios financial institutions are measured by.

Looking at the top-line of major banks, we are doing well. The new phase of our five-year corporate strategic plan will extensively cover what we

could not achieve in the previous phase. We shall continue to invest in staff trainings in order to ensure our staff remain one of the best amongst their colleagues in the industry. As a customer friendly institution we have set-up an Interactive Voice Response (IVR) centre and ombudsman complaints Call Centre to tackle issues from customers.”

A S AT 2 5 / 0 4 / 2 0 1 8

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N 1 2 3

BANKING

MARKET CAP(Nm) 328,332.48

ACCESS BANK PLC. UNITED BANK FOR 395,003.32 AFRICA PLC ZENITH INTERNATION863,403.58 AL BANK PLC

PRICE

%CHANGE

S/N 4 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N 5 6 BUILDING MATERIALS INDUSTRIAL GOODS OIL AND GAS S/N 7 EXPLORATION AND PRODUCTION OIL AND GAS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 8 9 10 CROP PRODUCTION S/N 11 FISHING/HUNTING/TRAPPING S/N 12 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 13 14 15 16 17 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N 18 BUILDING CONSTRUCTION S/N 19 20 INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 21

MARKET CAP(Nm) 437,922.57

MARKET BUILDING MATERIALS CAP(Nm) DANGOTE CEMENT 4,174,924.31 PLC LAFARGE AFRICA PLC. 367,753.36

EXPLORATION AND PRODUCTION SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

MARKET CAP(Nm) 450,160.09

22 23 24 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 25 AUTOMOBILES/AUTO PARTS S/N 26 27 28 29 30

BEVERAGES--BREWERS/DISTILLERS

11.35

0.44

206

32,463,951

S/N

1.76

309

60,005,944

31

27.50

-1.43

288

7,139,417

32

803

99,609,312

33

PRICE

%CHANGE

TRADES

VOLUME

12.20

-8.96

753

80,093,094

753

80,093,094

1,556

179,702,406

TRADES

VOLUME

34 35 36 37 38 FOOD PRODUCTS

PRICE

%CHANGE

245.00

-1.21

66

1,195,113

S/N

42.40

-1.97

70 136 136

1,307,263 2,502,376 2,502,376

39 40 FOOD PRODUCTS--DIVERSIFIED

PRICE

%CHANGE

TRADES

VOLUME

765.00

3.79

22

54,174

41

22

54,174

42 HOUSEHOLD DURABLES

22 1,714

54,174 182,258,956

S/N

S/N 43

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

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

0.20

-

3

180,000

70,112.39

73.50

-

10

5,480

69,300.00

69.30

5.00

9 22

125,035 310,515

440.00

MARKET CAP(Nm) 511.20

LIVESTOCK/ANIMAL MARKET SPECIALTIES CAP(Nm) LIVESTOCK FEEDS PLC. 2,460.00

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

MARKET CAP(Nm)

BUILDING CONSTRUCTION ARBICO PLC.

MARKET CAP(Nm) 711.32

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

MARKET CAP(Nm) 33,858.00 165.00

PRICE

%CHANGE

TRADES

VOLUME

4.26

-

0 0

0 0

PRICE

%CHANGE

TRADES

VOLUME

0.82

3.80

27

875,000

27

875,000

49

1,185,515

TRADES

VOLUME

PRICE

%CHANGE

1,456.01

0.55

-

5

8,596

221.82 2,111.93

0.57 3.25

-

19 0

365,579 0

73,166.38

1.80

-

60

6,071,411

48,693.91

16.90

-0.88

46 130 130

15,284,382 21,729,968 21,729,968

REAL ESTATE DEVELOP- MARKET MENT CAP(Nm) UACN PROPERTY DEVEL6,703.86 OPMENT CO. LIMITED REAL ESTATE INVESTMARKET MENT TRUSTS (REITS) CAP(Nm) SKYE SHELTER FUND PLC 2,000.00 UNION HOMES REAL ESTATE INVESTMENT 11,300.89 TRUST (REIT) UPDC REAL ESTATE 26,682.70 INVESTMENT TRUST

AUTOMOBILES/AUTO MARKET PARTS CAP(Nm) DN TYRE & RUBBER PLC 1,574.98 BEVERAGES--BREWERS/ MARKET DISTILLERS CAP(Nm) CHAMPION BREW. PLC. 17,851.25 GOLDEN GUINEA BREW. 242.22 PLC. GUINNESS NIG PLC 225,609.43 INTERNATIONAL BREW404,005.51 ERIES PLC. NIGERIAN BREW. PLC. 998,013.38

44 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

46 47 48 49 50 51 52 53 54 BANKING S/N 55 56 57 58 59 60

TRADES

VOLUME

-

0 0

0 0

63

PRICE

%CHANGE

TRADES

VOLUME

64

25.65 6.60

-

24 0

142,040 0

65

24

142,040

66

62

PRICE

%CHANGE

TRADES

VOLUME

67

2.58

-

12

226,084

68

12

226,084

PRICE

%CHANGE

TRADES

VOLUME

100.00

-

0

0

45.20

-

0

0

69 70 71 72

100

1

100

37

368,224

PRICE

%CHANGE

TRADES

VOLUME

0.33

-

0 0

0 0

PRICE

%CHANGE

TRADES

VOLUME

2.28

-

11

47,759

0.89

-

0

0

103.00

-

28

34,098

47.00

-

18

18,945

124.80

-0.16

105

777,170

73 74 75 76 77 78 79 80 INSURANCE CARRIERS, BROKERS AND SERVICES

162

877,972

%CHANGE

TRADES

VOLUME

3.65

66

704,819

MARKET CAP(Nm)

PRICE

71,000.00

14.20

254,400.00

21.20

0.95

73

1,016,798

89,486.49

34.10

1.49

309

15,977,845 4,296,000

22,601.06

2.85

0.71

78

1,489.00

0.40

-

0

0

1,220.67

6.85

-

2

5,700

55,108.32

20.80

2.21

26

139,107

3,676.41

13.45

-

1 555

100 22,140,369

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

27,233.93

14.50

-

59

208,617

1,243,043.53 1,568.20

4.99

25

22,322

84

230,939 VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

1,680.31

22.10

-

2

33,600

3,231.35

3.10

-

9 11

54,411 88,011

PRICE

%CHANGE

TRADES

VOLUME

22.50

-

34

282,729

53.00

-

23

176,246

57

458,975

869

23,796,266

PERSONAL/HOUSEHOLD MARKET PRODUCTS CAP(Nm) P Z CUSSONS NIGERIA 89,335.73 PLC. UNILEVER NIGERIA PLC. 304,485.29

BANKING

%CHANGE

1

HOUSEHOLD DURABLES NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC.

DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. JAIZ BANK PLC SKYE BANK PLC STERLING BANK PLC. UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC.

4.79

-

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

S/N

PRICE

10.00

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

45

61

REAL ESTATE DEVELOPMENT S/N

VOLUME

11.55

BANKING OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

TRADES

MARKET CAP(Nm) 45,162.76

PRICE

%CHANGE

TRADES

VOLUME

1.95

-1.52

62

3,068,528

362,403.64

19.75

-

42

316,739

73,016.49

2.52

0.79

164

40,551,556

43.70

0.58

218

12,190,828

0.75 0.82 1.65 6.25 1.10 0.92

-3.85 -5.75 2.46 -4.35 -3.16

21 41 99 62 25 23 757

1,465,458 2,835,704 886,780 1,515,258 1,454,726 391,214 64,676,791

PRICE

%CHANGE

TRADES

VOLUME

0.22

-

1

90,000

0.72

4.35

44

2,082,632

2.35

-

6

30,000

1,286,142.53 22,098.19 11,381.85 47,504.19 182,004.70 12,858.27 35,488.51

INSURANCE CARRIERS, MARKET BROKERS AND SERVICES CAP(Nm) AFRICAN ALLIANCE INSURANCE COMPANY 4,528.70 PLC AIICO INSURANCE PLC. 4,989.75 AXAMANSARD INSUR24,675.00 ANCE PLC CONSOLIDATED HALL2,170.00 MARK INSURANCE PLC CONTINENTAL REINSUR15,662.84 ANCE PLC CORNERSTONE INSUR5,155.33 ANCE COMPANY PLC. EQUITY ASSURANCE PLC. 4,060.00 GOLDLINK INSURANCE 2,411.47 PLC GREAT NIGERIAN INSUR1,913.74 ANCE PLC GUINEA INSURANCE PLC. 2,456.00 INTERNATIONAL ENERGY INSURANCE COMPANY 590.68 PLC LASACO ASSURANCE 2,709.67 PLC. LAW UNION AND ROCK 3,522.99 INS. PLC. LINKAGE ASSURANCE 6,560.00 PLC MUTUAL BENEFITS AS2,080.00 SURANCE PLC. N.E.M INSURANCE CO 14,943.82 (NIG) PLC. NIGER INSURANCE CO. 2,321.84 PLC. PRESTIGE ASSURANCE 1,946.88 CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY 2,000.63 PLC SOVEREIGN TRUST 1,834.98 INSURANCE PLC STANDARD ALLIANCE 5,422.63 INSURANCE PLC. STANDARD TRUST AS4,483.72 SURANCE PLC UNIC DIVERSIFIED HOLD516.46 INGS PLC. UNIVERSAL INSURANCE 8,000.00 COMPANY PLC VERITAS KAPITAL AS3,744.00 SURANCE PLC WAPIC INSURANCE PLC 7,628.16

0.31

-

9

154,110

1.51

-4.43

19

1,314,301

0.35

-

1

100

0.29

-

2

750

0.53

-

0

0

0.50

-

0

0

0.40

-

1

100

0.46

-

0

0

0.37

2.70

24

4,651,590

0.82

-

0

0

0.82

3.80

4

361,650

0.26

-3.70

5

283,900

2.83

1.07

19

3,550,458

0.30

-

5

119,281

0.51

-

3

11,000

0.30

-

6

1,097,000

0.22

-4.55

7

1,311,000

0.42

-4.55

2

5,437,000

0.48

-

0

0

0.20

-

0

0

0.50

-

0

0

0.27

3.85

4

612,000

0.57

3.64

41

1,973,923

203

23,080,795

˜ ͺͿ˜ ͺ͸͹Ͷ ˾ T H I S D AY

44

Nigeria Daily Stock Market Report:

THISDAY AFRINVEST 40 INDEX

ThisDay Afrinvest 40 sheds 30bps dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ƉŽƐƚĞĚ Ă ŇĂƫƐŚ ƉĞƌĨŽƌŵĂŶĐĞ LJĞƐƚĞƌĚĂLJ ŵĂƌŐŝŶĂůůLJ ĨĂůůŝŶŐ ďLJ ϭďƉ ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϳϭϯ͘ϳϴ ƉŽŝŶƚƐ͘ dŚŝƐ ĚĞĐůŝŶĞ ǁĂƐ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ĚƌĂŐƐ ŝŶ ZENITH (-Ϭ͘ϮйͿ͕ FBNH (-ϯ͘ϳйͿ ĂŶĚ UBA (-ϭ͘ϳйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϯ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

ĂƌŐĂŝŶ ,ƵŶƟŶŐ ƌŝǀĞƐ ƋƵŝƟĞƐ DĂƌŬĞƚ WĞƌĨŽƌŵĂŶĐĞ͙ NSE ASI up 5bps dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƌĞďŽƵŶĚĞĚ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ƌŽƐĞ ďLJ ϱďƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϰϬ͕ϳϳϳ͘ϲϳ ǁŚŝůĞ zd ƌĞƚƵƌŶ ƌĞŵĂŝŶĞĚ ƵŶĐŚĂŶŐĞĚ Ăƚ ϲ͘ϲй͘ /Ŷ ĂĚĚŝƟŽŶ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ Eϰϵ͘ϱďŶ ŝŶ ǀĂůƵĞ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĂĚǀĂŶĐĞĚ ƚŽ Eϭϰ͘ϴƚŶ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ďƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƵĞ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ in NIGERIAN BREWERIES ;нϭ͘ϴйͿ͕ UNILEVER ;нϯ͘ϲйͿ ĂŶĚ OANDO ;нϱ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ϴ͘Ϭй ĂŶĚ ϯϲ͘Ϭй ƚŽ ϯϳϴ͘Ϯŵ ƵŶŝƚƐ ĂŶĚ Eϲ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ GUARANTY ;ϲϯ͘ϱŵͿ͕ / DKE ;ϱϵ͘ϳŵͿ ĂŶĚ FBNH ;ϰϮ͘ϴŵͿ ǁŚŝůĞ GUARANTY ;EϮ͘ϴďŶͿ͕ FBNH ;Eϱϭϱ͘ϭŵͿ ĂŶĚ &>KhZD/>> ;Eϰϳϰ͘ϳŵͿ ƚŽƉƉĞĚ ƚŚĞ ĐŚĂƌƚ ďLJ ǀĂůƵĞ͘ ŽŶƐƵŵĞƌ 'ŽŽĚƐ /ŶĚĞdž ŵĞƌŐĞƐ >ŽŶĞ 'ĂŝŶĞƌ KǀĞƌĂůů ƐĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ǁĂƚĐŚ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ ƐĂǀĞ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ǁŚŝĐŚ ƚƌĞŶĚĞĚ ŶŽƌƚŚǁĂƌĚƐ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ůĞĚ ůĂŐŐĂƌĚƐ ĚŽǁŶ Ϭ͘ϱй͕ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ CONTINSURE (ϰ͘ϬйͿ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƚƌĂŝůĞĚ ĐůŽƐĞůLJ͕ ĚĞƉƌĞĐŝĂƟŶŐ Ϭ͘ϰй ĂŶĚ Ϭ͘ϯй ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƐĞůů ŽīƐ ŝŶ t W K (-Ϭ͘ϵйͿ ĂŶĚ UBA (-ϭ͘ϳйͿ ƌĞƐƉĞĐƟǀĞůLJ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ƐŚĞĚ Ϭ͘Ϯй ĂƐ Ă ƌĞƐƵůƚ ŽĨ ůŽƐƐĞƐ ŝŶ ETERNA (-ϭ͘ϱйͿ͕ ϭϭW> (-ϭ͘ϮйͿ ĂŶĚ FORTE (-Ϭ͘ϯйͿ͘ KŶ ƚŚĞ ƉŽƐŝƟǀĞ ƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ĂƉƉƌĞĐŝĂƚĞĚ Ϭ͘ϴй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ NIGERIAN BREWERIES ;нϭ͘ϴйͿ ĂŶĚ UNILEVER ;нϯ͘ϲйͿ͘ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁŽƌƐĞŶĞĚ ƚŽ Ϭ͘ϱdž ĨƌŽŵ ϭ͘ϭdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞĐĞĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϭϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ Ϯϲ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ OANDO ;нϱ͘ϮйͿ͕ K<KDhK/> ;нϱ͘ϬйͿ ĂŶĚ CILEASING ;нϰ͘ϳйͿ ǁŚŝůĞ EW&D Z& < (ϴ͘ϵйͿ͕ JAIZBANK (-ϴ͘ϬйͿ ĂŶĚ dZ E^ KZW (-ϱ͘ϬйͿ ǁĞƌĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ͘ /Ŷ ůŝŶĞ ǁŝƚŚ ĞdžƉĞĐƚĂƟŽŶ͕ ŵĂƌŬĞƚ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ ĂƐ ŝŶǀĞƐƚŽƌƐ͛ ǀĂůƵĞ ĂŶĚ ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ͘ dŚƵƐ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ ƚŚŝƐ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ƚŽ ďĞ ƐƵƐƚĂŝŶĞĚ ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ ĨŽůůŽǁŝŶŐ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ĂŶĚ ŝŶǀĞƐƚŽƌƐ ƌĞĂĐƟŽŶ ƚŽ Yϭ͗ϮϬϭϴ ƌĞƐƵůƚƐ͘

ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ ĂŶŐŽƚĞ ĞŵĞŶƚ WůĐ ;͞W ͟Ϳ W ĂŶŐŽƚĞ ĞŵĞŶƚ WůĐ ;͞ E' D͟ or ͞ƚŚĞ 'ƌŽƵƉ͟Ϳ ƌĞůĞĂƐĞĚ Yϰͬ&z͗ϮϬϭϳ ĞĂƌŶŝŶŐƐ ƌĞƐƵůƚ ǁŚŝĐŚ ǁĂƐ ĞƐƐĞŶƟĂůůLJ ƉƌŝĐĞ ĂĐƟŽŶ ĚƌŝǀĞŶ͕ ĂƐ ƉƌŽĚƵĐƟŽŶ ǀŽůƵŵĞ ĚƌŽƉƉĞĚ ϳ͘Ϭй z-o-z ƚŽ Ϯϭ͘ϵDDd ĨƌŽŵ Ϯϯ͘ϲDDd ŝŶ &z͗ϮϬϭϲ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ǀŽůƵŵĞ ĐŽŶƚƌĂĐƟŽŶ ŝŶ EŝŐĞƌŝĂ ;-ϭϱ͘ϵй ƚŽ ϭϮ͘ϳDDdͿ ǁŚŝĐŚ ŽīƐĞƚ ƚƌĂĐƟŽŶ ŐĂŝŶĞĚ ŝŶ WĂŶ- ĨƌŝĐĂ ŽƉĞƌĂƟŽŶ ;нϴ͘ϰй ƚŽ ϵ͘ϰDDdͿ͘ tĞ ĂƩƌŝďƵƚĞ ůŽǁĞƌ ƐĂůĞƐ ǀŽůƵŵĞ ŝŶ EŝŐĞƌŝĂ ƚŽ ǁĞĂŬ ĞĐŽŶŽŵŝĐ ŐƌŽǁƚŚ ĂŶĚ ĨĞĞĚďĂĐŬ ĞīĞĐƚ ŽĨ ƉƌŝĐĞ ŚŝŬĞƐ͕ ǁŚŝůĞ ƚŚĞ ƚƌĂĐƟŽŶ ŝŶ WĂŶ- ĨƌŝĐĂŶ ǀŽůƵŵĞ ŐƌŽǁƚŚ ƌĞŇĞĐƚƐ ƐƚƌŽŶŐĞƌ ƐĂůĞƐ ŝŶ ĂŵĞƌŽŽŶ ;нϭϳ͘ϰйͿ͕ ƚŚŝŽƉŝĂ ;нϭϰ͘ϵйͿ͕ ^ĞŶĞŐĂů ;нϮϴ͘ϮйͿ͕ dĂŶnjĂŶŝĂ ;нϯϯ͘ϯйͿ͕ ĂŵďŝĂ ;нϱ͘ϯйͿ ĂƐ ǁĞůů ĂƐ ŶĞǁ ǀŽůƵŵĞƐ ĨƌŽŵ ƌĞĐĞŶƚůLJ ĐŽŵŵŝƐƐŝŽŶĞĚ ŽƉĞƌĂƟŽŶƐ ŝŶ ŽŶŐŽ ĂŶĚ ^ŝĞƌƌĂ >ĞŽŶĞ ŝŶ Yϰ͗ϮϬϭϳ͘

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

-0.01%

11.1%

71.4%

22.3%

7.8%

7.9x

1.0x

4.8%

43.75

0.1%

20.7%

7.4%

7.9%

32.6%

5.2%

7.1x

2.5x

6.2%

14.1%

2

Zenith Bank PLC

27.45

-0.2%

12.6%

7.1%

5.9%

26.3%

3.6%

4.6x

1.2x

9.8%

21.8%

3

Nigerian Brew eries PLC

11.9%

127.00

1.8%

7.6%

-5.9%

-6.0%

17.4%

8.3%

31.8x

5.4x

3.3%

3.1%

1,568.20

0.0%

7.3%

0.8%

0.8%

89.0%

21.3%

36.9x

27.7x

2.7%

2.7%

245.00

0.0%

6.0%

6.5%

6.5%

22.7%

12.0%

21.2x

4.9x

4.3%

4.7%

11.75

-3.7%

6.6%

33.5%

33.7%

2.6%

0.3%

8.3x

0.7x

2.1%

12.1%

7.1%

13.0%

1.6%

5.6x

0.6x

5.7%

17.9% 19.9%

4

Nestle Nigeria PLC

5

Dangote Cement PLC

6

FBN Holdings Plc

7

Access Bank PLC

11.35

0.0%

4.4%

8.6%

-1.7%

8

United Bank for Africa PLC

11.35

4.4%

10.2%

9.0%

15.9%

1.9%

5.0x

0.8x

7.5%

9

Ecobank Transnational Inc

19.75

0.0%

3.4%

16.2%

21.4%

-14.6%

-1.3%

6.6x

0.7x

3.1%

10

SEPLAT Petroleum Development C

765.00

0.0%

3.4%

22.2%

22.2%

19.4%

11.1%

4.4x

0.8x

11

Stanbic IBTC Holdings PLC

48.90

0.0%

3.1%

17.8%

19.6%

28.9%

3.8%

9.3x

2.7x

1.0%

10.8%

12

Unilever Nigeria PLC

54.90

3.6%

3.1%

33.9%

36.5%

19.2%

8.0%

29.4x

4.0x

0.9%

3.4%

13

Guinness Nigeria PLC

103.00

0.0%

2.3%

9.6%

9.6%

14.6%

5.6%

19.3x

2.7x

0.6%

5.2%

14

Lafarge Africa PLC

42.00

-0.9%

1.4%

-6.4%

-6.4%

-36.8%

-7.7%

2.3x

3.6%

-14.7%

5.6%

15.2% 22.6%

15

Fidelity Bank PLC

2.48

-1.6%

1.1%

0.8%

-3.9%

8.0%

1.1%

2.2x

0.4x

16

Oando PLC

9.15

5.2%

1.8%

52.8%

52.8%

40.7%

4.2%

4.1x

0.9x

17

Dangote Sugar Refinery PLC

21.15

-0.2%

1.1%

5.8%

3.9%

43.2%

19.8%

8.2x

3.2x

11.8%

12.1%

18

Okomu Oil Palm PLC

77.15

5.0%

1.1%

14.0%

14.0%

39.7%

29.4%

7.7x

2.6x

3.9%

13.0%

19

International Brew eries PLC

47.00

0.0%

0.6%

-13.8%

-14.5%

24.6%

7.4%

49.2x

11.2x

20

Flour Mills of Nigeria PLC

35.20

3.2%

0.7%

21.4%

21.4%

13.1%

3.0%

7.4x

0.9x

2.6%

13.6%

21

Transnational Corp of Nigeria

0.6%

17.1%

15.5%

8.3%

1.8%

10.5x

1.1x

1.2%

9.6%

3.8%

1.71

-5.0% 0.0%

46.2% 24.2%

2.0%

22

UAC of Nigeria PLC

16.90

0.5%

0.0%

0.0%

2.2%

0.8%

22.9x

0.6x

23

Diamond Bank PLC

1.95

0.0%

0.6%

30.0%

24.2%

2.5%

0.3%

7.9x

0.2x

24

Total Nigeria PLC

222.60

0.0%

0.5%

-3.2%

-3.2%

31.0%

6.5%

9.4x

2.7x

7.6%

10.6%

25

FCMB Group Plc

2.50

2.0%

0.7%

58.2%

5.1%

0.8%

5.3x

0.3x

4.0%

19.0%

26

11 PLC

4.7%

11.9%

2.2%

4.7%

170.00

-1.2%

0.4%

-12.6%

-12.6%

30.8%

11.0%

8.4x

2.2x

-0.3%

0.5%

9.4%

13.2%

17.6%

1.6%

25.7x

4.0x

10.7%

5.0%

21.3x

2.2x

4.4% 12.7%

27

Forte Oil PLC

47.55

28

PZ Cussons Nigeria PLC

22.50

0.0%

0.4%

9.2%

6.4%

29

Cadbury Nigeria PLC

14.50

0.0%

0.3%

-7.5%

-7.1%

2.6%

1.1%

67.7x

2.3x

1.1%

1.5%

30

Presco PLC

69.30

0.0%

0.3%

1.2%

1.2%

39.7%

28.0%

2.7x

0.9x

2.9%

36.7%

31

NASCON Allied Industries PLC

20.25

-2.6%

0.3%

9.5%

5.4%

54.6%

19.5%

10.0x

4.7x

7.4%

10.0%

32

UPDC Real Estate Investment Tr

10.00

0.0%

0.3%

0.0%

0.0%

0.8x

7.2%

33

Union Bank of Nigeria PLC

6.25

0.0%

0.2%

-19.9%

-16.8%

5.6%

1.2%

8.0x

0.4x

34

Julius Berger Nigeria PLC

25.65

0.0%

0.3%

-8.4%

-8.4%

17.3%

1.8%

7.1x

1.1x

35

Sterling Bank PLC

3.9%

12.5% 3.9%

14.1%

1.58

-4.2%

0.3%

46.3%

39.8%

9.0%

0.9%

5.4x

0.4x

1.3%

18.6%

-1.4%

0.3%

15.2%

15.2%

61.6%

15.8%

4.5x

2.0x

1.4%

22.1%

36

Dangote Flour Mills Plc

14.00

37

GlaxoSmithKline Consumer Niger

24.00

0.0%

0.2%

11.1%

11.1%

61.2%

23.6%

59.5x

1.8x

31.3%

1.7%

38

Chemical and Allied Products P

38.75

0.0%

0.2%

14.0%

8.5%

66.2%

30.2%

18.1x

12.1x

5.3%

5.5%

39

Beta Glass PLC

75.50

0.0%

0.1%

47.1%

47.1%

18.4%

11.9%

10.6x

1.8x

1.4%

9.4%

7.45

0.0%

0.1%

3.3%

3.3%

5.3%

2.9%

19.5x

1.0x

1.7%

5.1%

40

Transcorp Hotels Plc

T o p 10 L o s e r s

(RC 603 315)

Price Change YTD

THISDAY AFRINVEST 40 1,713.78

DŽƌĞƐŽ͕ ŐƌŽƵƉ ŽƐƚ ŽĨ ^ĂůĞƐ ƌĂƟŽ ŝŵƉƌŽǀĞĚ ĨƌŽŵ ϱϮ͘ϲй ŝŶ &z͗ϮϬϭϲ ƚŽ ϰϯ͘ϲй͕ ĚƌŝǀĞŶ ďLJ ŝŶĐƌĞĂƐĞĚ ƵƟůŝnjĂƟŽŶ ŽĨ ůĞƐƐ ĞdžƉĞŶƐŝǀĞ ŬŝůŶ ĨƵĞů ŵŝdž ŝŶ EŝŐĞƌŝĂ ĐŽŵƉƌŝƐŝŶŐ ŵĂŝŶůLJ ŽĨ 'ĂƐ ;ϲϬй ŝŶ ϮϬϭϳ ǀƐ͘ ϰϯй ŝŶ ϮϬϭϲͿ ĂŶĚ ŽĂů ;ϯϴй ŝŶ ϮϬϭϳ ǀƐ͘ ϯϰ͘ϱй ŝŶ ϮϬϭϲͿ ŝŶƐƚĞĂĚ ŽĨ ƚŚĞ ŵŽƌĞ ĞdžƉĞŶƐŝǀĞ >W&K ;ϭ͘ϱй ŝŶ ϮϬϭϳ ǀƐ͘ ϮϮ͘ϱй ŝŶ ϮϬϭϲͿ͘ dŚŝƐ ĚƌŽǀĞ ƚŚĞ ƌĞĐŽǀĞƌLJ ŝŶ EŝŐĞƌŝĂŶ /d ŵĂƌŐŝŶ ŝŶ ƚŚĞ ƉĞƌŝŽĚ ;ƵƉ ϴ͘ϱƉƉƚ ƚŽ ϲϱ͘ϯйͿ ĨƌŽŵ ƚŚĞ ƌĞůĂƟǀĞůLJ ůŽǁ ďĂƐĞ ŽĨ ϮϬϭϲ ǁŚĞŶ ŵĂƌŐŝŶ ǁĂƐ ƉƌĞƐƐƵƌĞĚ ďLJ ŐĂƐ ƐƵƉƉůLJ ĐŽŶƐƚƌĂŝŶƚ ĂŶĚ ŝŶĐƌĞĂƐĞĚ >W&K ƵƐĂŐĞ͘

(A Dealing Member of the Nigerian Stock Exchange)

Previous Current Price Weighting Change

Guaranty Trust Bank PLC

T o p 10 G a in e r s

Afrinvest Securities Lim-

Current Price

1

dŚĞ 'ƌŽƵƉ ŚŽǁĞǀĞƌ ĐŽŶƟŶƵĞƐ ƚŽ ĨĂĐĞ ĐŚĂůůĞŶŐĞƐ ŝŶ 'ŚĂŶĂ ĂŶĚ ^ŽƵƚŚ ĨƌŝĐĂ͘ dŚĞ ŝŵƉĂĐƚ ŽĨ ůŽǁĞƌ 'ƌŽƵƉ ǀŽůƵŵĞ ŽŶ ƌĞǀĞŶƵĞ ǁĂƐ ŵƵƚĞĚ ĚƵĞ ƚŽ Ă ƐĞƌŝĞƐ ŽĨ ƉƌŝĐĞ ĂĐƟŽŶƐ ƚĂŬĞŶ ŝŶ EŝŐĞƌŝĂ ;ƉƌŝĐĞ ƉĞƌ ƚŽŶŶĞ ƵƉ ϱϰ͘ϭй z-o-zͿ ĂƐ ǁĞůů ĂƐ ŬĞLJ Pan- ĨƌŝĐĂŶ ŵĂƌŬĞƚƐ ƐƵĐŚ ĂƐ 'ŚĂŶĂ ĂŶĚ ^ŽƵƚŚ ĨƌŝĐĂ͘ DĂŶĂŐĞŵĞŶƚ ŐƵŝĚĞĚ ŝŶ ƚŚĞ ŽŶĨĞƌĞŶĐĞ ĐĂůů ŚĞůĚ ŽŶ ϮϬͬϬϯͬϮϬϭϴ ƚŚĂƚ ƐĂůĞƐ ĂƌĞ ŐƌĂĚƵĂůůLJ ƐƚƌĞŶŐƚŚĞŶŝŶŐ ŝŶ EŝŐĞƌŝĂ ĂŌĞƌ Ă ƐůŽǁ :ĂŶƵĂƌLJ ĂŶĚ ĞdžƉĞĐƚ Ă ƐŝŶŐůĞ ĚŝŐŝƚ ǀŽůƵŵĞ ŐƌŽǁƚŚ ŝŶ &z͗ϮϬϭϴ ƐƵƉƉŽƌƚĞĚ ďLJ ĂŶ ŝŵƉƌŽǀŝŶŐ ĞĐŽŶŽŵLJ ĂŶĚ ĂŶƟĐŝƉĂƚĞĚ ĐĂƵƟŽƵƐ ĐĞŵĞŶƚ ƉƌŝĐĞ ŝŶĐƌĞĂƐĞ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ƚǁŽ ĞdžƉŽƌƚ ƚĞƌŵŝŶĂůƐ ĂƌĞ ďĞŝŶŐ ĐŽŶƐƚƌƵĐƚĞĚ ŝŶ EŝŐĞƌŝĂ ; ƉĂƉĂ ĂŶĚ KŶŶĞͿ ƚŽ ĞdžƉŽƌƚ ĐůŝŶŬĞƌ ĂŶĚ ĐĞŵĞŶƚ ƚŽ ƌĞŐŝŽŶĂů ŵĂƌŬĞƚƐ͘ tĞ ĂůƐŽ ĞdžƉĞĐƚ WĂŶ- ĨƌŝĐĂ ƐĂůĞƐ ƚŽ ŝŶĐƌĞĂƐĞ ĚƵĞ ƚŽ ƌĂŵƉ ƵƉ ŝŶ ĐĂƉĂĐŝƚLJ ƵƟůŝnjĂƟŽŶ ŽĨ ŶĞǁůLJ ĐŽŵŵŝƐƐŝŽŶĞĚ ƉůĂŶƚƐ ; ŽŶŐŽ ĂŶĚ ^ŝĞƌƌĂ >ĞŽŶĞͿ ĂƐ ǁĞůů ĂƐ ƌĞŽƉĞŶŝŶŐ ŽĨ ƉƌŽĚƵĐƟŽŶ ůŝŶĞƐ ŝŶ dĂŶnjĂŶŝĂ ǁŚŝĐŚ ǁĂƐ ƚĞŵƉŽƌĂƌŝůLJ ŵŽƚŚďĂůůĞĚ ĚƵĞ ƚŽ ŚŝŐŚ ĞŶĞƌŐLJ ĐŽƐƚ͘

'ŽŝŶŐ ĨŽƌǁĂƌĚ͕ ǁĞ ŵĂŝŶƚĂŝŶ Ă ƉŽƐŝƟǀĞ ŽƵƚůŽŽŬ ŽŶ E' D ĂŶĚ ĞdžƉĞĐƚ ƐĂůĞƐ ǀŽůƵŵĞ ƚŽ ƌŝƐĞ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƌĞĐŽǀĞƌŝŶŐ ŽƵƚƉƵƚ ŝŶ EŝŐĞƌŝĂ ĂŶĚ ĐĂƉĂĐŝƚLJ ƌĂŵƉ ƵƉ ŝŶ ŬĞLJ WĂŶ ĨƌŝĐĂŶ ŵĂƌŬĞƚƐ͘

Friday, April 27, 2018

T ic k er OA N D O

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 %

T ic k er

Vo lum e

P ric e C hg %

9.15

5.2%

GUA R A N T Y

67.4

0.6%

OKOM UOIL

77.15

5.0%

F ID ELIT YB K

14.9

-1.6%

C ILEA SIN G

1.33

4.7%

FB NH

14.7

1.6%

C H A M P ION

2.38

4.4%

J A P A ULOIL

12.9

3.8%

10.3

-0.8%

M A YB A KER

2.70

3.8%

FCM B

UN ILEVER

54.90

3.6%

Z EN IT H B A N K

9.1

0.2%

F LOUR M ILL

35.20

3.2%

UB A

8.2

-0.4%

J A P A ULOIL

0.48

2.1%

SOVR EN IN S

7.6

-4.3%

FCM B

2.50

2.0%

A C C ESS

7.2

0.0%

127.00

1.8%

SKYEB A N K

6.5

5.2%

P ric e

P ric e C hg %

NP FM CRFB K

1.84

-8.9%

GUA R A N T Y

J A IZ B A N K

0.69

-8.0%

FB NH

1.71

-5.0%

NB

T ic k er

T R A N SC OR P

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

Value 2794.4

P ric e C hg % 0.1%

515.1

-3.7%

F LOUR M ILL

474.7

3.2%

LIVEST OC K

0.78

-4.9%

Z EN IT H B A N K

468.0

-0.2%

SKYEB A N K

0.78

-4.9%

FO

372.7

-0.3%

UA C -P R OP

2.46

-4.7%

N EST LE

318.6

0.0%

UN IT YB N K

1.05

-4.5%

UN ILEVER

151.2

3.6%

WEM A B A N K

0.88

-4.3%

UB A

130.3

-1.7%

ST ER LN B A N K

1.58

-4.2%

A C C ESS

125.7

0.0%

C ON T IN SUR E

1.45

-4.0%

D A N GSUGA R

122.6

-0.2%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

45

˾ FRIDAY, APRIL 27, 2018

MARKET NEWS

Investment One Launches Two Funds to Encourage Wealth Creation Goddy Egene Investment One Funds Management Limited, a subsidiary of Investment One Financial Services, has launched two new products, the Vantage Dollar Fund (VDF) and the Vantage Equity Income Fund (VEIF).

The VDF is a SEC approved open-ended fixed income dollar fund that will invest in Dollar denominated securities issued by Federal Government of Nigeria and Nigerian corporates. According to

the company, the VDF will ensure a balance between capital appreciation and income for investors with modest risk appetite.

“Thus Investors will enjoy a preservation of their Dollar assets, as well as earn competitive returns on investment,” the company explained.

The initial public offering price is units of $1 each at par and investors can opt in with a minimum investment of $1,000 and multiples of $500 thereafter. The offer

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

size is only 2,000,000 units ($2million).

Investment One’s second product, the Vantage Equity Income Fund (VEIF) is an equity-based mutual fund.

It will invest in blue chip equities that have a 5-year track record of paying dividends. The VEIF is targeted at investors with a medium to long-term investment perspective who seek portfolio diversification with professional management.

The VEIF is sold at an initial public offering value of

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 25-Apr-2018, unless otherwise stated.

500,000,000 units of N1 each at par and potential investors can buy units in the fund with a minimum of N50,000 and in multiples of N10,000 thereafter.

According to Investment One, the VDF and VEIF opened for subscription from Monday, April 23 and would close Friday June 1, 2018. The company added that both VDF and VEIF allow investors to redeem units as needed. Kedari Capital Limited is the issuing house for both investment products.

It explained that to apply

for units of these funds, investors could download the subscription forms and prospectus fromwww. investment-one.com or walk into any of the designated branches of the receiving bank, Guaranty Trust Bank Plc in Lagos, Abuja, Port-Harcourt and Ilorin.

Investment One is a leading player in the Nigerian financial services industry with distinctive offerings in wealth management & trust, mutual funds, pensions, real estate, private equity/venture

capital, investment banking and securities brokerage.

The Group’s business model is simple: attract investor’s funds through its wealth management, mutual funds and pension businesses; seek attractive returns through its investment management (equities & fixed income), real estate and private equity/ venture capital businesses; and provide financial advisory and intermediary services through the investment banking and securities brokerage businesses.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.86 0.87 4.12% ACAP Income Funds 0.66 0.66 9.33% 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 14.03% 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 159.76 160.56 5.21% AXA Mansard Money Market Fund 1.00 1.00 14.07% 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 N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A 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 14.27% 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 N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A 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 1,150.39 1,151.55 0.22% FBN Heritage Fund 150.81 152.12 8.17% FBN Money Market Fund 100.00 100.00 14.00% FBN Nigeria Eurobond (USD) Fund - Institutional $112.07 $112.56 -0.76% FBN Nigeria Eurobond (USD) Fund - Retail $112.21 $112.70 -0.54% FBN Nigeria Smart Beta Equity Fund 182.06 184.80 13.01% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.39 1.41 6.29% Legacy Debt Fund 3.01 3.01 4.30% 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 N/A N/A N/A Coral Income Fund N/A N/A N/A 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 13.74% 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 14.06% Vantage Balanced Fund 2.19 2.22 4.08% Vantage Guaranteed Income Fund 1.00 1.00 15.66% Kedari Investment Fund (KIF) 119.84 120.26 4.22%

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 1.18 1.20 3.21% Lotus Halal Fixed Income Fund 1,047.99 1,047.99 4.05% 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 1.33 1.35 11.76% PACAM Fixed Income Fund 11.65 11.71 5.54% PACAM Money Market Fund 10.00 10.00 14.03% 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 132.78 135.38 3.20% 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 1.56 1.56 5.10% 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 2,380.14 2,400.72 6.13% Stanbic IBTC Bond Fund 185.47 185.47 5.11% Stanbic IBTC Ethical Fund 1.08 1.09 7.43% Stanbic IBTC Guaranteed Investment Fund 232.63 232.72 5.64% Stanbic IBTC Iman Fund 189.10 191.12 5.56% Stanbic IBTC Money Market Fund 100.00 100.00 13.98% Stanbic IBTC Nigerian Equity Fund 10,254.49 10,394.54 6.05% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 2.45% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.35 0.22% United Capital Bond Fund 1.66 1.66 5.93% United Capital Equity Fund 0.98 1.00 6.58% United Capital Money Market Fund 1.00 1.00 13.02% United Capital Eurobond Fund 105.40 105.40 2.43% United Capital Wealth for Women Fund 1.13 1.14 4.28% 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 13.39 13.59 6.84% Zenith Ethical Fund 13.94 14.11 5.51% Zenith Income Fund 19.96 19.96 5.48% Zenith Money Market Fund 1.00 1.00 13.23%

REITS NAV Per Share

Yield / T-Rtn

10.00 134.71

-11.35% 1.70%

Bid Price

Offer Price

Yield / T-Rtn

12.56 160.31 119.17

12.66 163.70 121.35

3.60% 12.23% 9.06%

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

5.12 9.75 18.89 20.66 160.45

5.16 9.83 18.99 20.86 162.45

8.08% 1.85% 6.37% 4.98% 7.94%

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.

Ë&#x153; ͺͿË&#x153; ͺ͸͚Î&#x20AC; Ëž T H I S D AY

46

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Remembrance of God (dhikr) and the Path of Mercy Irshaad Hussain/IslamiCity â&#x20AC;&#x153;And whoever turns himself away from the remembrance (dhikr) of al-Rahman (The Compassionate), We appoint for him a shaitan (a satan), so he becomes his close companion (and associate). And most surely they (the satans) turn them away from the path, though they (the people) persistently imagine that they are rightly guided....â&#x20AC;? (Qurâ&#x20AC;&#x2122;an 43:36-37)

T

his verse, highlights a repeatedly arising theme in the Qurâ&#x20AC;&#x2122;an - the importance of dhikr (remembrance of God) - but highlights it in a unique and powerfully crucial manner.

It links the turning away from a steady and steadfast contemplation and remembrance of God in the aspect of His Mercy and compassion with the entry of Shaitan (Satan) into oneâ&#x20AC;&#x2122;s affairs.

And as verse 43:37 indicates, this entry is an invisible, unperceived arrival so that the person remains unaware that he has been turned and deflected away from a felicitous path but instead imagines that he â&#x20AC;&#x153;is rightly guidedâ&#x20AC;?. This theme of people turning away from Godâ&#x20AC;&#x2122;s name of Mercy (al-Rahman) and compassion recurs in several places in the Qurâ&#x20AC;&#x2122;an and is perhaps due to these people desiring a special recognition or concession for their group, their viewpoint, their tribe, or their social and political status. â&#x20AC;&#x153;No remembrance comes to them from the All-Merciful newly arrived but they turn away from it.â&#x20AC;? (Qurâ&#x20AC;&#x2122;an 26:5) Instead they are faced with a general beneficence that does away with special pleading and levels all hierarchies except that of consciousness and awareness of God and beauty of conduct.

Rahman and Rahim are two denotations of mercy used throughout the Qurâ&#x20AC;&#x2122;an. The Rahman is generally considered to be an all-embracing universal mercy and compassion (linked to Godâ&#x20AC;&#x2122;s Majesty) which pervades existence and from which everything in existence derives benefit, while Rahim is sometimes defined as a more specialized and focused mercy.

Here (in verse 43:36) we are invoking, through dhikr of the name al-Rahman, the entry into our hearts of that generalized mercy through which all creation obtains benefit - a benefit which is not restricted only to particular groups, and which is not withheld from anything or any creature in existence.

And the invocation is an invitation for that mercy to

enter and settle into our hearts.

Note: If there is an impediment to this process - to engaging in a remembrance with the heart - if we find it difficult to open this door it is, perhaps, because we ourselves are the door - and if the door is locked, it is locked through our forgetfulness, negligence, and through the careless habits acquired over a lifetime which hinder a true inward consciousness and awareness from arising within us. When we are in this state, then the dhikr is first a recognition of the door, then an approach to the door, then a knocking on the door, and finally an opening of the door of our heart.

When remembrance (dhikr) of Allah is connected with the aspect of His mercy and compassion, that quality of mercy begins to manifest within oneâ&#x20AC;&#x2122;s own character - it gains a real, living presence and the heart expands with itâ&#x20AC;&#x2122;s growth. Oneâ&#x20AC;&#x2122;s thinking, words, actions, and all oneâ&#x20AC;&#x2122;s relationships within families, communities, and in the wider world begins to display this mercy. This dhikr then becomes a shield against the countless invisible ways in which Shaitan injects himself into peopleâ&#x20AC;&#x2122;s lives, even into their religious lives so that, as the verse indicates, â&#x20AC;&#x153;...they (the people) persistently (and mistakenly) imagine that they are rightly guided....â&#x20AC;? (Qurâ&#x20AC;&#x2122;an 43:37) though they are deflected from correct guidance.

This is why we find Imam Ali (a.s.) provided a guideline for determining the character of a people.

He said: â&#x20AC;&#x153;Be not mislead by their prayers and fasting... rather, try them when it comes to telling the truth and fulfilling trusts.â&#x20AC;? (Nahjul Balagha) When weighing a personâ&#x20AC;&#x2122;s trustworthiness and their religious ethos, the Imam said not to look at their prayer, fasting, and hajj but to look into their character and how this character displays itself in the workings of life. Then we can see where their attachments lie, what their desires lead to, and what principles manifest in their behavior and aspect.

This is because the prayer, fasting, etc. are a means.

Although initially they may be an end in themselves, they are an extraordinary means of remembrance through worship (and they always remain a necessary obligation since they never cease to be an ever expanding means). Remembrance is a means of awakening a slumbering consciousness, which is in turn a means of transformation, and this transformation leads to inner upliftment, and this upliftment makes it possible

to draw near to the one to Whom we pray. Prayer is the means and each prayer is an opportunity to advance in this process. So the question becomes: what has our prayer made of us?

The Prophet said that â&#x20AC;&#x153;whoever has no worldly life has no religious lifeâ&#x20AC;?. By this he did not mean that we should plunge ourselves into worldly pursuits but that the one who separates his inner religious self from his life within the trials and distractions of the world has not grasped the full purport and meaning of religion.

If we pray and fast, attend the masjid, perform the rituals and consider this the entirety of religious life we are, in a sense, secularizing our religion. Our inner religious self has never had its mettle tested in the world if it remains safely and comfortably within these confines. When it is tested, will the world get the better of us, or will our faith (our iman) guide and direct the quality of our behavior in the world?

We are to take the elevated character, the manners, the freedom from lower attachments that sincere adherence to the pillars of the religion can unfold within us, out into the world. We are to apply this in our day to day affairs - both the easy and the difficult. Truthfulness, patience, fulfillment of trusts, good speech and manners, generosity, kindness, humility, charity, mercy, guarding the weak, involving ourselves in the best affairs of society, in the guardianship of rights - and we are to do this in an ihsan (beautiful) manner - without crudeness, without being rough in action or speech. Like Prophet Yusuf (Joseph) who, in a foreign country, living among a foreign people with a foreign religion, rose to the highest prominence through his reliance on Godâ&#x20AC;&#x2122;s mercy and acted with the patience, truthfulness, and beauty of character which emerged from this unwavering reliance. As Sura Yusuf says: â&#x20AC;&#x153;...most surely (manâ&#x20AC;&#x2122;s) self (nafs) is wont to command (him to do) evil, except those who (are connected with) their Lordâ&#x20AC;&#x2122;s mercy....We reach with Our mercy whom We please, and We do not waste the reward of those who do good (who act in the most beautiful manner).â&#x20AC;? (Qurâ&#x20AC;&#x2122;an 12:53,56) That society in which Yusuf rose to prominence did not look at his prayer and ritual practices (after all, these would have been foreign rituals to them) but they looked at his character, his truthfulness, his patience, his elevated knowledge, his sincerity, his fulfillment of trusts. Without these, which are among the fruits of

efficacious prayer and fasting, can it be said that we have truly prayed and fasted. The people of Egypt reacted to how Yusuf comported himself within that society. He did not seek to blend in, that was not his goal - but he became known through the excellence of his conduct. â&#x20AC;&#x153;For the righteous are only known by that which God causes to pass concerning them on the tongues of His servants. So let the dearest of your treasuries be the treasury of righteous action....

Infuse your heart with mercy, love and kindness....â&#x20AC;?

(Imam Aliâ&#x20AC;&#x2122;s letter to Malik al-Ashtar) Unfurling this level of awareness and comportment within ourselves is a difficult matter. For, as the Qurâ&#x20AC;&#x2122;an states, humans have a tendency to be forgetful and heedless when they interact in the world. In our thoughts it is easy to imagine ourselves behaving magnanimously and with dignity when faced with difficulty and hardship, when heavy pressures and dangers alight upon us. But when the reality surrounds us, our minds desperately seek escape or seek to strike out against the perceived causes of our difficulty and our hearts twist and turn confused and without direction.

In such situations we may grasp, in our distress, at any direction that provides a path of action.

When our hearts are perturbed and made uneasy by events, the best direction to turn is towards the remembrance of God, for â&#x20AC;&#x153;...surely by Allahâ&#x20AC;&#x2122;s remembrance are the hearts set at rest.â&#x20AC;? (Qurâ&#x20AC;&#x2122;an 13:28) And the dhikr, the remembrance, that encompasses Godâ&#x20AC;&#x2122;s aspect of Mercy through His name Al-Rahman, will stand as a protecting guard over error, arrogance, and an invisible, and deceptive enemy. Otherwise â&#x20AC;&#x153;... whoever turns himself away from the remembrance (dhikr) of al-Rahman, We appoint for him a Shaitan (a Satan)....â&#x20AC;? (Qurâ&#x20AC;&#x2122;an 43:36) This safeguarding dhikr begins on the tongue, enters the mind with concentrated consciousness, settles into a heart softened and cleansed through remembrance of Al-Rahman, and manifests in the myriad small actions a person engages in each day. It becomes a shield and a truly beautiful means of drawing near to the mercy of the Most-Merciful (al-Rahman) who has promised to be the companion of the one who engages in His dhikr. â&#x20AC;&#x153;I am the close companion of the one who remembers Me.â&#x20AC;? (hadith Qudsi) And for a people, a community, who live in a state of sincere remembrance, all things become possible.

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FRIDAY, APRIL 27, 2018˾ T H I S D AY

47

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Bill Cosby Found Guilty at Sexual Assault Retrial Television icon Bill Cosby was convicted of sexual assault Thursday in the first celebrity courtroom battle of the #MeToo era -- a combative retrial that capped his fall from grace and offered vindication to dozens of women who accused him of abuses.

The frail, 80-year-old Cosby -- once beloved as “America’s Dad” -- could now spend the rest of his life behind bars when he is sentenced for drugging and molesting Andrea Constand at his Philadelphia mansion in January 2004, AFP reported.

Constand was in the packed courtroom in Norristown, just outside Philadelphia, as the verdict was read out to stifled

sobs in the gallery. Cosby’s attorney quickly pledged to appeal.

A criminal conviction and possible prison term is a devastating prospect for the once towering figure in late 20th century American popular culture, the first black actor to grace primetime US television, who hit the big time after growing up as the son of a maid.

Cosby’s first trial ended in June last year with a hung jury.

But on Thursday, the new jury, which deliberated for more than 14 hours over two days, found him guilty on all three counts of aggravated indecent assault, carried out while Constand was unconscious.

Each count carries a maximum penalty of 10 years.

The pioneering African American actor and entertainer, adored by millions for his defining role on “The Cosby Show,” sat in silence as the jury foreperson read out the verdict.

But after the jury was led out, the Emmy winner -- dogged for years by allegations of similar assaults made by dozens of women -- erupted in an expletive-laden tirade as prosecutors argued he was a flight risk.

The verdict was a vindication for the prosecution, with the district attorney who presided over the conviction declaring that “justice has been done” after Cosby “spent decades preying

on women.”

“Money and power or who you are will not stop us from a criminal investigation and prosecuting a case,”Kevin Steele told a news conference.

Cosby’s first trial ended with the sequestered jurors hopelessly deadlocked after 52 hours of deliberations, and also for the other women who claimed to have been assaulted by the megastar.

“We are so happy that finally we can say, women are believed, and not only on #MeToo, but in a court of law where they were under oath, where they testified truthfully,” said Gloria Allred, the high-profile lawyer to several of Cosby’s accusers.

Macron Sees Trump Dropping Iran Nuclear Deal French President Emmanuel Macron has said he may have failed in efforts to persuade Donald Trump to stick to an international nuclear deal with Iran, BBC reported on Thursday.

“My view is... that he will get rid of this deal on his own, for domestic reasons,” Mr Macron said at the end of a three-day state visit to the US. Mr Trump has until 12 May to decide on the deal, which

aimed to prevent Iran acquiring nuclear weapons.

He has been a strong critic of the accord, calling it “insane”.

On Wednesday, Mr Macron used similar language to describe frequent shifts in the US position on global issues, including climate change and the Iran agreement.

“It can work in the short term, but it’s very insane in the medium to long term,” he is quoted as telling reporters

following a question-andanswer session with students at George Washington University.

Mr Macron made changing the US president’s mind on Iran a top priority for his visit but ended up admitting there was a “big risk” Mr Trump would abandon the deal.

He agreed with Mr Trump that any deal should include a wider agreement on Iran’s influence in the Middle East and should cover the country’s

nuclear activities longer term, as well as its ballistic missile programme.

He said he would work with Mr Trump to build a “new framework” in the Middle East - and especially in Syria.

His comments came at the end of a state visit in which the two leaders discussed differences on global trade and the environment, including the possibility of the US rejoining the Paris climate accord.

It also ended a winning streak for Los Angeles lawyer Tom Mesereau, who leapt to fame for getting Michael Jackson acquitted of child molestation in 2005, but who ultimately failed to deliver for Cosby.

“We are very, very disappointed by the verdict. We don’t think Mr. Cosby is guilty of anything and the fight is not over,”Mesereau said, guaranteeing an appeal.

A case with no physical

evidence, the trial essentially boiled down to he-said, she-said, hinging on how credible the jury found 45-year-old Constand, a former basketball player turned massage therapist.

Hanging over the entire trial was the cultural watershed of the #MeToo movement, which since last October has seen a litany of powerful men from Harvey Weinstein to Kevin Spacey lose their careers.

CHANGE OF NAME CHANGE OF NAME I formerly known and addressed as CALLISTA OKEHIE, now wish to be called and addressed as CALLISTA NWAUBANI OKEHIE. All former documents remain valid. General public should please take note.

I formerly known and addressed as JAMES VICTOR CHIBUZOR, now wish to be called and addressed as EBOYEM JAMES EMEKE. All former documents remain valid. General public should please take note.

I formerly known and addressed as BASSEY JOY EBONG, now wish to be called and addressed as JOY IDARA IRUBOR. All former documents remain valid. General public should please take note.

I formerly known and addressed as JIMOH AMED TUNDE, now wish to be called and addressed as JIMOH AMED. All former documents remain valid. General public should please take note.

I formerly known and addressed as KABIRU SANI LOLO, now wish to be called and addressed as ABUBAKAR KABIRU LOLO. All former documents remain valid. General public should please take note.

I formerly known and addressed as IDOWU MURI OLA, now wished to be known and addressed as MURITALA SAHEED OLA and my DOB ǁĂƐ ǁƌŽŶŐůLJ ǁƌŝƩĞŶ as 03/02/1980 instead of 02/02/1980. All former documents remains valid. The general public should please take note.

FRIDAY, APRIL 27, 2018˾ T H I S D AY

48

NEWSXTRA

I’ll Win Re-election in 2019, Buhari Assures Segun Awofadeji ÓØ ËßÍÒÓ President Muhammadu Buhari has again re-echoed his decision to seek re-election in 2019, assuring his supporters that he is confident of winning.

Buhari who made the statement in Bauchi yesterday while inaugurating 500 tractors and other farm implements procured by the Bauchi State government at the Abubakar Tafawa Balewa Stadium (ATBS), said he would seek re-election for a second term and win again because he “is a clean man and not corrupt like other past Nigerian leaders.”

He pointed out: “Most Nigerian treasury looters have more than 20 to 30 houses yet some people in the country cannot afford even a single room to sleep in because poverty has eaten them up.”

According to the president,

“I don’t have this type of mind to loot the treasury of Nigeria while people are suffering.”

He vowed that he “will fish out looters and cheaters of the country, while all the funds recovered from them will be remitted into the national coffers.”

President Buhari further encouraged parents to send their children to school to acquire western education, saying life would not be good without education.

He said: “Assuming I did not go to school, I will not be the President of Nigeria today.

You should go to school, not because you want to work but to acquire knowledge for the future.”

He further said: “Youths should not wait for government work because the government cannot do it alone; they should embrace farming. Farmers are

the richest people in the country now and farming is the main focus of our government.”

He commended Bauchi State Governor, Mohammed Abdullahi Abubakar, for using his bailout funds to clear salary arrears and ensure regular payment of salaries in the state.

In his remarks, Abubakar said the main objectives of distributing the 500 tractors to farmers were to boost rice and maize production in the state.

He recalled that Nigerians used to go outside the country to buy rice, but with these farm implements, farmers in the state would no longer suffer setbacks.

The governor said all the farm implements which include, ox-plough, power feller, tractors, grinding machines, water pumping machines, mini pick-up van, fertilizer, plastic fish pond, motorcycles and tricycles would be sold to farmers at subsidised

rates.

He said unemployed youths in the state would be employed and trained on how to handle some of the machines, carry out minor repairs, monitoring and safeguarding the machines to reduce the number of unemployed youths in the state.

Earlier, the president who inaugurated a 60-bed Nigerian Air Force Reference Hospital, said the establishment of the special operation command of the Nigerian Air Force in Bauchi is in response to the current and emerging threat facing the country.

He stated that the special command which is co-located with the new hospital confirms the administration’s collective commitment to tackling any threat to the security of the country.

According to him, “The air force remains a key component of the armed forces in its constitutional role of providing

aid to civil authorities across the country. These efforts include surveillance, security airports, emergency assistance and resettlement of displaced people. These laudable efforts will continue in the interest of the country as it is our strategic goals to widen civil-military relationship.”

The president said he was delighted that the hospital, though a military facility, would grant access to civilians in an emergency, and acknowledged that the hospital is of international standard.

Buhari said: “Counter insurgency efforts are bound to be enhanced by the location of the hospital because of its proximity to the theatre of operation”, adding that it would reduce the hitherto long distance to 44 Nigerian Army Reference Hospital and Nigeria Air Force Hospital in Kaduna for casualties thus saving time

for casualty evacuation.

He, therefore, urged Nigerian Air Force to put an adequate mechanism in place to ensure an enduring and optimal performance of the hospital, adding that it would eventually serve as a precursor to the resets list of Armed Forces Medical Services (AFMS) as envisaged in Defence policy of Nigeria.

Speaking earlier, the Chief of Air Staff, Air Marshal Abubakar Sadiq appreciated the president for the support that the Nigerian Air Force has enjoyed under his administration, saying: “It has undoubtedly positioned the service to effectively discharge his statutory responsibilities as provided in the constitution The Chief of Air Staff said the effect of the president’s support has manifested in the various theatres of operations especially in the geopolitical zones of the country.

DMO: Five-year FGN Bond Oversubscribed by 60% Ndubuisi Fràncis ÓØ ÌßÔË The newly-floated federal government bond with fiveyear tenor was oversubscribed by 60 per cent, the Debt Management Office (DMO) revealed yesterday.

The DMO conducted the fourth in the series of federal government Bond Auctions for 2018 on April 25, to raise funds for the implementation of the yet-to-be- passed 2018 budget.

The bond auction results released by the DMO indicated that the five- year tenored bond was oversubscribed by 60.9 per cent.

Three bonds (five, seven and ten years) were offered for a total amount of N90.00 billion.

Total subscription was N262.48 billion, a subscription rate of 292 per cent.

According to the DMO, each of the bonds was oversubscribed, with demand for the 10-year bond particularly strong at a

rate of 534 per cent.

A total of N90 billion was allotted at 12.75 per cent for the five-year bond, 12.85 per cent for the seven-year bond and 12.89 per cent for the ten-year bond.

The DMO stated that interest rates at the auction continued to trend downwards, as was the case at the March 2018 auction, adding that the rates for all the bonds offered at the April Auction were below 13 per cent.

“The drop in rates is consistent with the DMO’s expectations, based on its redemption of Nigerian Treasury Bills, which started in December 2017.

“The funds injected into the market through the redemptions, and the lower interest rates, are supposed to make credit available to private sector borrowers at lower rates. “This should enable them to lower their cost of operations and be more competitive in pricing,” the DMO said.

Court Sends Dino Melaye’s Brother to Kuje Prison Samuel Melaye, the younger brother of the senator representing Kogi west in the National Assembly, Dino Melaye, has been remanded in Kuje Prison in Abuja.

Samuel, according to The Cable, was remanded in prison by a Chief Magistrate’s Court in Mpape, after being arraigned for alleged criminal conspiracy.

The police charged him and three others — Amaefula David, Pius Inyang and Mohammed Wazari — after they were named in the escape incident involving Melaye.

Melaye had reportedly jumped out of a police vehicle conveying him to a court in Kogi State.

He was being taken to court over allegations that he supplied arms to some arrested crime suspects.

His attempted escape is said to have followed an ambush of the police vehicle by suspected thugs.

The police charged them with criminal conspiracy,

obstruction of public servant from performing his lawful duties, abatement and assault on police officers.

They pleaded not guilty to the charges but a failed plea by the defence counsel, Nkem Okoro, could not scale through after being opposed by the police.

The presiding magistrate then ordered that the four be remanded in prison until Monday, April 30, the adjourned date for ruling on the bail application.

Samuel made the headlines in 2016 over an alleged attempt to impose him as Chairman of the National Assembly Legislative Aides Forum (NASSLAF).

The body comprises aides of senators and members of the House of Representatives.

Moses, another brother of Melaye, was arrested last Monday when the police laid a siege to the residence of the legislator.

Moses was arrested alongside his friend and Melaye’s driver.

AT BOI AGM

L-R: Chairman, Bank of Industry, Alhaji Aliyu Dikko; Managing Director/CEO, BOI, Mr. Olukayode Pitan; and Executive Director, Small and Medium Enterprises, Mr. Waheed Olagunju, during the bank’s 58th annual general meeting in Abuja...yesterday

Baru: NPDC Will Soon Compete With Shell, Others as Nigeria’s Top Oil Producer Chineme Okafor ÓØ ÌßÔË The Nigerian Petroleum Development Company (NPDC) is on its way to becoming Nigeria’s top oil and gas exploration and production (E&P) outfit, thus competing efficiently in terms of output levels with other International Oil Companies (IOCs) in the country, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has disclosed.

Baru said the target of the NNPC was to make the NPDC which is its subsidiary, become the top E&P company in Nigeria, adding that it was already responding to that mandate and would soon have its oil production levels move up to 500,000 barrel per day (bpd) from 230,000bpd which he said it currently produces.

A statement from the Group General Manager, Public Affairs of the NNPC, Mr. Ndu Ughamadu, yesterday in Abuja, quoted Baru, to have said this when he spoke at the

18th annual General Meeting (AGM) of NPDC in Benin City, Edo State.

Baru, according to the statement, expressed satisfaction with the performance of NPDC. He stated that: “It is encouraging and the company is on a growth path and its processes and procedures fully in line to ensure that it delivers on its mandate set by NNPC.” He also explained that NPDC’s production level was significantly growing and would soon hit the 500,000bpd which he added would almost place it at per with the highest producers in the country.

The statement equally quoted the Managing Director of NPDC, Mr. Yusuf Matashi, to have commended the top management of the NNPC for their support which, he said, had placed the company on the path of steady growth.

He disclosed that the company would establish a Liquefied Petroleum Gas plant with a capacity of 330,000 metric tonnes per day (mt/d) to supply

about 40 per cent of Nigeria’s daily LPG demand.

Also in a related statement from the Director of Press in the Ministry of Petroleum Resources, Mr. Idang Alibi, the federal government has reiterated its commitment to making sure that investments in modular refineries in the Niger Delta would become beneficial to the region.

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said this when a team from the office of the Vice President, Prof. Yemi Osinbajo, and his office, visited a modular refinery project by the OPAC Refinery at Umuseti, Kwale, Delta State.

Kachikwu was represented by his Senior Technical Adviser on Refineries and Downstream Infrastructure, Rabiu Suleiman, at the visitation which the statement said was in furtherance of the government’s commitment to improve domestic refining capacity.

He said the government was impressed with OPAC as a local

investors and its partners for the initiative and commitment, and will give it the needed supports to make sure the refinery would be completed on schedule.

According to Kachikwu, the refinery would provide jobs for communities in the region as well as, refined products to ease the burden of products’ importation, supply and distribution across the country.

Also in the statement, the Chairman of OPAC Refinery, Mr. Momoh Jimah Oyarekhua, said that the first phase of the project was designed to process 7,000bpd of oil from which heavy fuel oil, naphtha, diesel, and kerosene would be produced.

Oyarekhua, stated that based on the availability of crude oil, the refinery will be upgraded in two phases in two phases to first bring its capacity to 21,000bpd a year after its inauguration and then a 40,000bpd conventional refinery will be added to it to produce petrol.

FRIDAY, APRIL 27, 2018Ëž T H I S D AY

49

NEWSXTRA

PDP: Buhariâ&#x20AC;&#x2122;s Summon by Nâ&#x20AC;&#x2122;Assembly in Order, Reflects the Mood of Nigerians President operating like a captured leader, says Fayose Onyebuchi Ezigbo Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Victor Ogunje Ă&#x201C;Ă&#x2DC; Ă&#x17D;Ă&#x2122; Ă&#x2022;Ă&#x201C;Ă&#x17E;Ă&#x201C; The Peoples Democratic Party (PDP) has hailed the move by the National Assembly to investigate President Muhammadu Buhari for alleged constitutional violations.

This is just as the Ekiti State Governor, Mr. Ayodele Fayose, expressed regret that the president is now operating like a captured leader whose basic job is to offer condolences to Nigerians slaughtered by herdsmen instead of taking firm action to stop the atrocities.

The PDP also expressed support over the summon extended to Buhari to appear before a joint sitting over the daily bloodletting in our country, saying it is completely in consonant with the mood of

the nation and the expectations of Nigerians.

In a statement issued yesterday by the National Publicity Secretary of the PDP, Kola Ologbondiyan, the party said the vote of no confidence passed on the service chiefs by federal lawmakers is â&#x20AC;&#x153;a direct indictment of President Buhari, as a failed commander-in-chief of our armed forces, who must be held responsible for the security failures of our nation in the last three years.â&#x20AC;? â&#x20AC;&#x153;President Buhari has roundly failed in his oath of office and allegiance; he has roundly failed to dress his parade as a commander-in-chief in the last three years and must not be allowed to hide behind the service chiefs for his failures.â&#x20AC;?

The said Nigerians are very eager to listen to President

Kaduna Govt Charges El-Zakzaky, Others with Murder Falana asks FG to honour court order Gboyega Akinsanmi

members and the soldiers in the convoy in Zaria, Kaduna State.

The Kaduna State Government The charge alleged that the has charged the leader of Islamic defendants committed â&#x20AC;&#x153;an Movement of Nigeria (IMN), offence of voluntarily causing Sheikh Ibrahim El-Zakzaky, grievous homicide without with different criminal offences provocation by encouraging including homicide amid members of the sect to attack sustained protest by members one Colonel Faggo Babayo, of his sect to secure his release. Â which resulted to various El-Zakzaky was charged degrees of injury on his body.â&#x20AC;? alongside his wife, Zeenah As a result, it alleged, the Ibrahim, Yakub Katsina and defendants caused a breach of Sanusi Koki for allegedly peace and disturbed the peace involving in the murder of of the people of Zaria and its Corporal Yakuku Dankaduna environs, thereby committing on December 12, 2015 contrary an offence contrary to section 47 to section 47 of the Penal Code and punishable under section Law of Kaduna State, 2017. Â 78 of the Penal Code Law of The eight-count charge, which Kaduna State, 2017. had already been filed before It added that the offence was a Kaduna State High Court, committed by blocking Sokoto Kaduna Judicial Division, road and other major roads in was signed by six prosecutors Zaria, thereby causing the death namely Chris Umar, Bayero of Corporal Yakuku Dankaduna Dari, A. Isiaka, M.D. Joseph, of the Nigerian Army while U.N. Dauda and S. Azer on dispersing members of the April 18, 2018. sect and clearing road for the The charge with No: KDH/ army chief.

KAD/60/2018 alleged that the The charge alleged that sect leaders agreed with their the defendants promoted members â&#x20AC;&#x153;to commit an illegal an unlawful assembly by act with dangerous weapons encouraging people to join the such as pistols, guns, dane guns, sect, claiming that the sect was cutlasses, knives, catapult, axes, not a registered organisation. clubs and sticks and blocked In a statement yesterday, Sokoto, Sabon Gari and other counsel to the defendants, major roads in Zaria and its Mr. Femi Falana said since a environs.â&#x20AC;?

Federal High Court had ordered During a procession the sect the release of El-Zakzaky and organised on December 12, his wife on December 2, 2016, 2015, the charge alleged that the federal government had not members of the sect prevented justified why it treated the court the convoy of the Chief of Army order with contempt. Staff, Lt.-Gen. Tukur Buratai  With the ongoing protests by and the public from gaining the sect members to compel the access to the roads and thereby federal government to comply committed an offence punishable with the court order, Falana said under Section 59 of the State the state government charged ElPenal Coder Law. Zakzaky and other defendants It also alleged that the sect with culpable homicide and leaders aided the murder of allied offences Corporal Yakuku Dankaduna in The defence counsel however, the convoy of the Chief of Army lamented that the soldiers who Staff during the December 12, killed 347 of the sect members 2015 bloody clash between their â&#x20AC;&#x153;have since been pardoned.â&#x20AC;?

Buhari and watch him respond to them through their National Assembly members. â&#x20AC;&#x153;We therefore habour no reservations in urging the federal lawmakers, as representatives of the people, not to succumb to any form of executive intimidation, blackmail and pressure to surrender their constitutional powers and duties,â&#x20AC;? it said.

According to the PDP, Section 88 and 89 of the 1999 Constitution (as amended) fully empowers the National Assembly, as the collective voice and conscience of the people, to summon any person, including the president, to give evidence on any matter of state and to apply appropriate sanctions for noncompliance. â&#x20AC;&#x153;Since the matter of failed security is of paramount importance to all, we firmly demand that President Buhari take questions and address our nation in an open session of the National Assembly. â&#x20AC;&#x153;Nigerians are eager to know why the Buhari administration is completely insensitive to their plight and why it has refused to take decisive steps to end the ceaseless killing and daily pillaging of citizens by

insurgents and marauders. â&#x20AC;&#x153;They are also eager to know why President Buhari, particularly, failed to act on intelligence reports and danger signs from flash points, particularly in Benue, Taraba, Yobe, Adamawa, Plateau, Zamfara, Kogi, among others; a development that paved the way for the massacre of helpless citizens in these states. â&#x20AC;&#x153;Furthermore, Nigerians are anxious to know why it took President Buhari months before he visited the troubled states; allowed his handlers to turn supposed condolence visits into political rallies to further his ill-fated 2019 re-election bid. â&#x20AC;&#x153;We commend the courage exhibited by our lawmakers in initiating the constitutional process on the violations of our constitution particularly in the controversial Tucano fighter jets purchase deal and in summoning Mr. President to shed light on his efforts at curbing the endless mindless killings across our nation. â&#x20AC;&#x153;Finally, we charge our legislators to note that Nigerians are looking up to them to rescue our nation at this critical time.

They must therefore brace up to the imperatives of patriotism

and set in motion necessary machinery that will ensure security and cohesion in our country,â&#x20AC;? PDP said.

Meanwhile, Fayose while reacting to the latest killings

by Fulani herdsmen in Benue State, wondered why a retired army general and one-time military Head of State could be incapacitated to rout killers in the country.

He said the main reason why Buhari was voted, was on the premise that he would provide security to the citizens, expressing worries on why the president has suddenly become lame duck. â&#x20AC;&#x153;This is a killer government,â&#x20AC;? the governor said, adding that it was shameful that Nigerians are dying daily with Buhari clueless and incompetent to handle the crisis. â&#x20AC;&#x153;It is beyond dispute that the Buhari administration has lost the battle against insurgency and the Fulani herdsmen. Buhari is helpless as he is reduced to offering condolences on a daily basis. â&#x20AC;&#x153;Nigerians are dying on a daily basis. Innocent souls are being wasted by herdsmen and the Buhari administration has lost all moral right to continue

in office. Why is he still sitting in office? Doing what, if I may ask,â&#x20AC;? he added.

Fayose, in the statement issued by his Chief Press Secretary, Mr. Idowu Adelusi, wondered that this was a government that lambasted the PDP administration of exPresident Goodluck Jonathan for cluelessness and incompetence on security matters â&#x20AC;&#x153;but the same Jonathan administration era is now looking like the golden age of security of lives and property in Nigeria. â&#x20AC;&#x153;At no period since 1999 has life been this cheap. Life has become nasty, brutish, and short under the Buhari administration,â&#x20AC;? he said.

Fayose also expressed misgivings about recent spate of controversial judgments by courts which he said gave the impression of collusion between unscrupulous judges and the Buhari administration to truncate democracy and lead the country into a n a rc h y. â&#x20AC;&#x153;The situation is getting so bad that we do not know whether the constitution of the country has been unofficially suspended.â&#x20AC;?

SIDELINE CHAT

L-R: Jigawa State Governor, Badaru Abubakar; Secretary to the Government of the Federation, Boss Mustapha; Ebonyi State Governor, Mr. Dave Umahi, during the National Economic Council (NEC) meeting at the Presidential Villa in Abuja...yesterday

Ë&#x203A;

FINALLY, FAAC SHARES N626.82BN TO FG, STATES, LGS as of April 23, 2018.

According to her, while the balance in Excess Crude Account as of April 23, stood at $1.829billion while the balances in Stabilisation Account and Natural Resources Account respectively stood at N14.226billion and N134billion respectively.

She also said the Minister of Budget and National Planning, Udoma Udo Udoma, told the council that the six-week Economic Recovery and Growth Plan (ERGP) focused labs had ended and another would commence on May 7.

â&#x20AC;&#x153;Today in council, we were briefed by the Accountant General of the Federation on the balances in the accounts of the federation - the ECA, Stabilisation Account and Natural Resources Account. â&#x20AC;&#x153;According to the AGF, the balance in ECA as at April 23, 2018, stood at $1,829,862,47 while in the Stabilisation Account, the balance as at April 23 was N14,226,835,000. The balance in Natural Resources Account as reported by the accountant general on April 23, 2018 was N134, 912,870,000. â&#x20AC;&#x153;He further gave updates on budget support loan

facilities to states.

He said 35 states commenced the programme in 2016 and collected N1.3 trillion and in addition to that, another N1.11billion has also been collected. The repayment of the facility was extended from one year to two years. â&#x20AC;&#x153;Analysis of compliance level showed that 52.5 per cent was the highest while 13 per cent was the lowest with respect to the conditionalities for budget support loan facility.

Furthermore, update was equally provided on the ERGP focused labs by the Minister of Budget and National Planning.

According to the minister, the

six-week focused labs ended last week, that is, on April 20, 2018. â&#x20AC;&#x153;The next stage of the programme will now be an open day coming up on May 7, 2018and it is expected that the outcome of the labs will be on exhibition and state governments are expected to be part of it. For those who cannot attend for one reason or the other, it is expected that representatives will be sent. â&#x20AC;&#x153;The minister appreciates the chairman of council, VicePresident, Yemi Osinbajo, for his support in ensuring that this programme was a huge success,â&#x20AC;? she said.Â

50

FRIDAY, APRIL 27, 2018˾ T H I S D AY

NEWSXTRA

APC Rebuffs Sheriff’s Visit to Party Headquarters Borno chapter: Why we oppose his registration in Abuja Former PDP faction defects to ruling party Onyebuchi Ezigbo ÓØ ÌßÔË The leadership of the All Progressives Congress (APC) has again rebuffed the move by former National Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, to rejoin the ruling party.

Sheriff’s planned defection to the APC was to have been heralded by a reception at national secretariat of the party in Abuja last Wednesday.

He was scheduled to meet with the APC National Chairman, Chief John OdigieOyegun, along with members of the National Working Committee (NWC) yesterday but the meeting was cancelled at the last minute.

According to the media invitation sent out by the APC publicity unit, Sheriff was expected to storm the APC national secretariat in Abuja with his supporters by noon yesterday.

However, in a statement issued by the party’s National Publicity Secretary, Mallam Bolaji Abdulahi, it said Sheriff would not be received back to the party

in Abuja.

The statement said in line with the constitution of APC, registration of members is done at ward level not headquarters.

“Our attention has been drawn to reports in some sections of the media that the former factional Chairman of the PDP, Sheriff, plans to defect to the APC. “While we are aware of such intentions, we wish to restate our earlier position that anyone who wants to join the party should do so at the ward level.

“We are happy to welcome new members to our party, but membership cards are not issued at the party national secretariat,” it said.

Meanwhile, the Borno State chapter of the APC has given reasons why it is opposed to the move by Sheriff seeking to renew his membership of the party in Abuja.

While speaking to journalists at the party’s national secretariat in Abuja, the state Chairman, Hon. Ali Bukar Dolori, said the move was a dangerous one capable of causing confusion in the state branch of the party

ahead of the forthcoming congresses.

According to him, “We have read news on the social media yesterday and in some national dailies this morning, that Sheriff will be received by our national chairman today (yesterday) at the headquarters of our great party.

“I want to assure you that the news remains a rumour because somebody is only trying to fly a kite which is capable of causing dangerous confusion during the state congresses in Borno State.

“We are aware of that wellarticulated plan, and we are ready to defend any attempt towards destroying our party at any level and in any state, not just Borno.”

However, key members of the Sheriff faction of the PDP who lost out in the tussle for leadership of party have defected to the APC.

The group led by Senator Hope Uzodimma from Imo State and Senator Abubakar Gada at a brief ceremony at w APC headquarters yesterday in Abuja declared their allegiance to the leadership of APC. Among those who defected to APC yesterday include, Hon. Segun Odebunmi, Hon. Kamila Lado Rasheed, Hon Bala Modu Sheriff, Hon. Bernard Mela, Senator Taslim Folarin, Senator Gbemisola Saraki, Uzodimma, Godluck Ogbia, Ali Gulak, Hon. E.J Agboneyema, Senator Abubakar Gada, Nnamdi Richard, While welcoming the new members, the national chairman of APC, Chief John Odigie-Oyegun said their entry would doubt boost the chances of APC in the 2019 elections.

He assured the new entrants of a level playing ground, adding that they were free to

go their wards and register as well take part in the ongoing congresses.

“I want to, on behalf of the APC welcome you. This is the first time that this magnitude of event is happening since the amalgamation and since the APC came into being. “We have received very important persons, but this is the very first time that we are receiving a total party into the APC. It was clear and there was no doubt about it that there were two PDP, but the issue was which was the real PDP. You must go back to your Ward and register formally as members because APC is based on local representation right up to the unit level,” he said.

Speaking while receiving the defecting politicians, the Secretary to the Government of the Federation, Boss Mustapha, said the timing of the defection

was very auspicious.

He said APC has regenerated with entry of the Sheriff men.

He added that the few years of the APC has witnessed a different approach to governance and delivery of services to the people.

He assured them that the party had taken steps in the last NEC meeting to mitigate any hurdle that may be on the way of new entrants.

Speaking on behalf of the governors that were present, Kano State Governor, Abdulahi Ganduje, described the event as historic, adding that the faction of the PDP that joined the APC is the better part.

He said those joining the APC are of the status with members of the legacy parties that formed the APC. He expressed the hope that the new members will help APC win more states at the elections.

Abdulsalam is Labour Party‘s National Chairman -INEC Disowns Mike Omotosho The Independent National Electoral Commission (INEC) has again dispelled rumours of any leadership crisis in the Labour Party (LP), saying Alhaji Abdulkadir Abdulsalam remains the authentic national chairman of the party.

The clarification, coming from the electoral commission, has exposed Mr. Mike Omotosho’s claim to the position of the chairmanship of the party as an impostor.

INEC’s position was contained vide a letter, INEC/LEG/ PP/14/T/7 dated April 10, 2018, in a respond to complain by a legal firm, Afolabi Fashanu & Co, apparently drawing the attention of the commission to the activities of Omotosho, who is parading himself as the national chairman of the party.

According to INEC’s letter entitled: ‘Re-Impersonation by Dr. Mike Omotosho as Labour Party National Chairman’, the electoral empire said: “Your letter dated January 8, 2018, on the above refers. Please note that the commission’s record and publication on its website has the name of Alhaji Abdulkadir Abdulsalam (Baradan Paiko) as the National chairman of Labour Party.”

The letter signed by Mrs. Augusta Ogakwu, the Secretary to the commission, which copies were made available to journalists in Abuja, has however helped to put an end to the misgivings in some quarters about the imaginary factionalisation of the party’s leadership.

Although this is the second time INEC was

dispelling the reports of any leadership change in LP within the last five months while giving recognition to Alhaji Abdulkadir Abdulsalam‘s-led National Working Committee (NWC).

INEC, had since November last year disowned the rebel group led by the former Rotary Club boss, Omotosho, which announced the purported sacking of Abdulsalam and replacing him as the party’s boss.

Dismissing the actions of the group, the Chief Press Secretary to INEC Chairman, Rotimi Oyekanmi, noted that the commission has not changed from its recognition of Abdulsalam as the LP chairman.

He added that if that has changed, the commission would have reflected such on its website.

Oyekanmi said: “My brother, just go the website of the commission, and you will see that there has been no effected change on the party’s chairman.

If the chairman of the LP has changed, the commission would have done that by effecting such change on its website.

“So, whoever you see his name on the INEC website is the chairman of the LP.” Despite spirited efforts to impersonate the national chairman, the electoral body has ever prevented the acclaimed LP faction under Omotosho’s chairmanship from attending any of its meetings with chairmen of political parties while Abdulsalam and his NWC members were always accorded full recognition by the commission.

ROYAL VISIT

L-R: Head, Finance and Accounts, Bi-Courtney Aviation Services Limited (BASL), operators of the Murtala Muhammed Airport Terminal Two (MMA2), Adeniran Olugbebi; Chief Executive Officer, Captain Jari Olubunmi Williams; Alaafin of Oyo, Oba Lamidi Adeyemi II; Head, Corporate Communications, Chief Stephen Omolale; and Head, Marketing, Tony Awe (standing), when Oba Adeyemi visited the VIP Lounge of MMA2 in Lagos....Wednesday

FG Asks Court to Stop Ekweremadu from Selling off Disputed Assets Alex Enumah ÓØ ÌßÔË The federal government yesterday asked the Federal High Court in Abuja to stop the Deputy Senate President, Ike Ekweremadu, from further selling off his properties that are already issue of dispute in court.

The federal government already had requested from the court an order of temporary forfeiture of 22 properties linked to Ekweremadu, which the government is claiming he did not disclose in his assets declaration forms.

In a counter-affidavit in response to Ekweremadu’s motion on notice, the government told the court that the deputy senate president in a desperate bid to avoid forfeiting the properties to the federal

government has already sold two of his three undeclared properties in Kissimmee, Florida, United States of America.

The counter-affidavit dated and filed on March 26, 2018 was deposed to by Yohanna Shankuk, a clerk from the law firm of Festus Keyamo (SAN).

While accusing Ekweremadu of employing delay tactics to frustrate the suit, the government averred that the properties which were bought in 2008 for $200,000 each were put on the market in January and sold for $150,000 to the same buyer on February 20 2018.

The federal government further prayed the court to grant the application to enable the Special Presidential Investigation Panel for the Recovery of Public Property, chaired by Okoi Obono-Obla to also investigate

the alleged buyers.

Also yesterday, it was revealed that the petition that nailed the deputy senate president was written by a retired Chief Judge of Federal High Court, Justice Innocent Umezulike.

The former CJ, in a petition dated March 23, 2018, stated that he was impelled by civic responsibility to lodge a complaint to the special investigation panel to the effect that the life style of Ekweremadu and the massive property he had acquired are not justified by his source of income.

He therefore called on the panel to investigate him (Ekweremadu).

The retired CJ said in the petition that, “In sum, from 1999 till date, he has been in the realms of public office without any break to engage

in any personal business. Thus, his emoluments in the past 18 years is easily ascertainable from revenue mobilisation allocation and fiscal commission.

“Prior to his entry into public office in 1999, he was not a successful lawyer, he lived in the dirt of high density suburb of Enugu at No:17 Mike Ejeagha Street, Abakpa -Nike, Enugu.

“Curiously, in a space of 18 years, the suspect has amassed and stashed billions of naira in cash and choice properties strewn in major cities in four continents of the world. The cash is locked up in the vault of Sterling Bank Plc and UBA,” the CJ alleged.

Justice Binta Nyako has however adjourned the matter to June 5, 2018, for hearing.

FRIDAY, APRIL 27, 2018Ëž T H I S D AY

51

NEWSXTRA

Benue Assembly Summons Ortom over Killings Following the deteriorating security situation in the state, the Benue State House of Assembly yesterday summoned Governor Samuel Ortom to appear before the assembly to brief them on actions taken by the State Security Council to halt the incessant killings of the people of the state by Fulani herdsmen.

Ortom is to appear before the lawmakers next Wednesday for the interface.

The assembly also resolved to suspend plenary for one week in solidarity with the victims of the attacks.

It equally appreciated members of the National Assembly for their firm stance against the killings, particularly their decision to suspend plenary in protest and to summon President Muhammadu Buhari over the matter.

The Speaker of the assembly, Mr. Terkimbi Ikyange, who gave the ruling after a debate on a motion of Urgent Public Importance moved by Dr. Ianna Jato, also appreciated the state acting governor for his efforts at ensuring the protection of the people in the governorâ&#x20AC;&#x2122;s absence.

In his motion, Jato lamented that the people of the state were being killed in large numbers without any practical actions by those whose constitutional role it is to protect them.

He said the last Tuesdayâ&#x20AC;&#x2122;s killing of two Catholic priests and worshippers in a morning Mass in Gwer Local Government Area and the one that followed few hours later in the same local government was a dangerous trend that must be halted without further delay.

In their contributions,

Buhari Approves Appointments into NHRC, NDDC, NERC Olawale Ajimotokan Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039;

named as Non-Executive Directors of Niger Delta President Muhammadu Buhari Development Commission, has ratified the appointment (NDDC). of some individuals into key They are Lucky Orimisan federal parastatals.

Aiyedatiwa from Ondo State The appointments, according (S/W), Hon. Chika Ama, to a statement issued last night, Nwauwa- Imo State (S/E) and

by Olusegun A. Adekunle, Nwogu N. Nwogu -Abia State a Permanent Secretary, on (South-south). behalf of the Secretary to the According to the statement, Government of the Federation, they will serve in that capacity Boss Mustapha, followed their for an initial term of four years confirmation by the Senate of in office. the Federal Republic of Nigeria. Similarly, Professor James Anthony Okechukwu Momoh from Edo State Ojukwu, representing Imo (South-south) is named the state (South-south), is the new Chairman, Nigerian Electricity Executive Secretary, National Regulatory Commission Human Rights Commission (NERC) for an initial term (NHRC). He is to serve an of five years. The statement initial term of five years. said the appointments take Also, three persons were immediate effect.

Panic in Maiduguri as Boko Haram Launches Unsuccessful Invasion Michael Olugbode Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x201C;Ă&#x17D;Ă&#x;Ă&#x2018;Ă&#x;Ă&#x153;Ă&#x201C; There was panic in Maiduguri yesterday as gunshots were heard in some parts of the town.

Residents in the outskirts of the town were seen moving in drove into the city centre, with claims that their locations were attacked by insurgents who were surging into the town.

Some of the residents of Aliramti Jiddari-Polo, Giwa and Molai who spoke on phone with THISDAY, said they had to flee because gunshots were heard all around their areas.

One of the residents of Aliramti Jiddari-Polo, Asabe Mamza who spoke with THISDAY on phone at about 6:30p.m yesterday, said: â&#x20AC;&#x153;My entire family and I are on the street, fleeing into town as gunshots is heard all over our area. â&#x20AC;&#x153;We decided to flee when the sound of the gunshots was getting close to us.â&#x20AC;?

A resident of Giwa area where

a military barracks is located, Abba Musa, said: â&#x20AC;&#x153;We had to move when gunshots were heard, we believe the military is engaging the insurgents who are headed into the town.â&#x20AC;?

Another person who spoke with THISDAY from the Giwa area, Yusuf Ibrahim, said: â&#x20AC;&#x153;My brother as I am talking to you we are all lying flat on the floor so as not to be hit by the flying ballets.â&#x20AC;?

Meanwhile, the military authorities in the state has warned everyone from fleeing into the streets.

A statement by the spokesman of 7 Division in Maiduguri, Colonel Kingsley Samuel, read: The public is please requested not to panic and discountenance the rumours of Boko Haram presence.â&#x20AC;?

The statement, which was issued at the peak of the exodus at about 7p.m, read: â&#x20AC;&#x153;You are further enjoined to please remain at home and be vigilant. The security situation in Maiduguri is under control.â&#x20AC;?

the Majority Leader, Mr. Benjamin Adanyi and Mr. Paul Biam, described the acts as provocative, dastardly and

inhuman aimed at annihilation of Benue people.

Also speaking, Mr. Titus Uba, Dr. Kester Kyenge and

Mr. Avine Agbom said it was unfortunate that despite the contributions of Benue people to keep the country united, the

Nigeria state seems to fold her hands and watch the genocide being perpetrated against the state by herdsmen militia.

TRAINING THE YOUTHS

L-R: GM, External Relations, Oando Energy Resources, Kofo Tunji-Olagunju; MD, NAOC, Massimo Insulla; Community Relations Manager, Oando Energy Resources, Chief Sam Onyenwe; Division Manager, Stakeholders Management and Community Development, NAOC, Mr. Dennis Masi; and Deputy Managerâ&#x20AC;&#x2122;s, Public Affairs, NAPIMS, Clementine Arobi, with a cross-section of some of the 275 graduates of the GRP Agro-Skills Acquisition Training Graduation Ceremony in Port Harcourt.....yesterday

Court Gives DSS Nod to Publicly Display Weapons Allegedly Found in Dasukiâ&#x20AC;&#x2122;s House Alex Enumah Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; A Federal High Court in Abuja has ruled that the weapons allegedly found in the house of former National Security Adviser (NSA), Col. Sambo Dasuki (rtd) be displayed in the open court by the Department of State Service (DSS).

The court also ruled that the weapons comprising various guns be tendered as exhibits by the DSS in the trial of exNSA in the charges of unlawful possession of firearms and money laundering brought against Dasuki by the federal government.

Delivering a ruling in an objection against the public display of the weapons in the open court by Dasuki, Justice Ahmed Mohammed held that it was in the interest of justice and fair play to both the prosecution and the defence that the alleged weapons be displayed in the court.

Justice Mohammed said that Dasuki as a defendant in the trial would not be prejudiced if the alleged weapons were displayed and tendered as exhibit by those who investigated the allegations against him.

Besides, Justice Mohammed said the weapons were listed in the proof of evidence already made available to the ex-NSA by government which put him on trial. Â A prosecution witness, Mr Williams Obiara, an operative of DSS, who testified behind a veil, was requested by the prosecution counsel, Oladipupo Okpeseyi (SAN), to identify and display in the open court the weapons allegedly found in Dasukiâ&#x20AC;&#x2122;s house in 2015, four days after the change of government.

However, Dasukiâ&#x20AC;&#x2122;s counsel, Adeola Adedipe, objected to the move on the grounds that the trial is being conducted in semi- secrecy in compliance with the decision of the court made

on June 2015.

The objection was founded on section 190 of the Evidence Act, section 232 of the Administration of Criminal Justice Act, (ACJA), 2015 as well as section 36 of the 1999 Constitution, adding that since the witness was testifying behind a veil, it is normal and appropriate that the weapons be displayed in the chamber of the judge.

However, governmentâ&#x20AC;&#x2122;s counsel urged the court to dismiss the objection on the grounds that it was only official record of the state that cannot be displayed in the open court and not items recovered in the house of a suspect during investigation.

Justice Mohammed agreed with the prosecution and ordered that the weapons be brought to court for display on May 22 and 24, 2018, when the trial is expected to resume.

Earlier in his evidence, Obiora

had told the judge that he was part of the team ordered by the Director General of DSS in 2015 to carry out search on Dasukiâ&#x20AC;&#x2122;s house based on intelligence report that weapons injurious to national security were in his house.

He testified that the team led by one Ali Burara, armed with a search warrant, arrived at Dasukiâ&#x20AC;&#x2122;s house in Asokoro and met a retinue of armed soldiers, who prevented then from conducting the search.

The witness told the court that after about three hours, a military truck arrived the house and moved the soldiers out of the house to pave the way for the search during which weapons were found and recorded on the search warrant.

Meanwhile, the matter has been adjourned till May 22 and 24 for the display of the said weapons and continuation of trial.

Okun People Accuse Security Agents of Violating Melayeâ&#x20AC;&#x2122;s Human Dignity Ejiofor Alike The people of Okun in the five out of the seven local government areas in Kogi West senatorial district of Kogi State, under the aegis of Okun Development Association (ODA), have accused law enforcement agencies of going beyond the bounds of the universally accepted minimum standards in their face-off with Senator Dino Melaye.

The association, which has also attributed the current

face-off between Melaye and security agents to political differences between experienced stakeholders in the same political party, accused the security agencies of lack of respect for the dignity and person of Melaye.

The Yoruba-speaking Okun people, who also constitute a sizeable population of the remaining two local governments in Kogi West, also noted that the security agents ignored the provision of the constitution, which stipulates that government must not deploy extrajudicial

and extra-legal methods in dealing with suspects.

They accused security agencies of violating Melayeâ&#x20AC;&#x2122;s fundamental rights, in flagrant abuse of the 1999 Constitution.

President of ODA, Mr. Femi Mokikan, said in a statement yesterday that the constitutional provisions that presumes that an accused is innocent until he is found guilty, has also been violated in Melaye case.

Mokikan stated that the Okun people have justifiable reasons to be apprehensive at

the recent ugly dimension that Melayeâ&#x20AC;&#x2122;s encounter with the law enforcement agencies has assumed.

He said Okun people acknowledged and conceded that it is within the purview and prerogative of the government to maintain law and order. Â Mokikan added that in doing this, the government must respect the dignity and person of her citizens, in addition to protecting their fundamental rights as guaranteed by the 1999 Constitution as amended.

FRIDAY, APRIL 27, 2018˾ T H I S D AY

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NEWSXTRA

House Beams Searchlight on Operational Cost of Executive Arm James Emejo ÓØ ÌßÔË The House of Representatives yesterday approved the setting up of an ad-hoc committee to investigate the various conditions of service governing the tenure of public officers including political appointees, civil servants and chief executives of extra ministerial departments, parastatals, bodies and other institutions of government including public-owned companies and corporations under the control of the executive, legislative, and judicial arms of the federal government.

The proposed committee is to determine the operational cost of running the federal government by whatsoever name including security votes, running costs, service-wide votes, impress, contingencies among others, in compliance with Sections 88 (1) a-b and (2) a-b, and Section 89 (1) a-d, and (2) of the 1999 Constitution.

The resolution followed a motion sponsored by Hon. Muhammad Musa Soba (PDP, Kaduna) on the need for a holistic investigation into the conditions of service governing

the tenure of elected officers, political appointees among others.

The House noted with keen interest and concern, the public rancour about the operational cost of running the National Assembly as the legislative arm of government has prompted the need to examine the executive arm of government.

Soba said such rancour had always trailed each session of the National Assembly (post-proclamation) although it is largely informed by assumption, ignorance, misinformation and alternative facts inspired by various motives, elements and groups, some of whom are politically opposed to the institution of the parliament as an arm of government.

He expressed concern that the searchlight for transparency regarding the condition of service of public officers is often not beamed on the executive and judicial arms of government and to that extent, a selective targeting of the National Assembly by the promoters of this type of campaign and therefore,

unhelpful in the search for truth, and justice in this manner.

However, he said the outcome of the investigation should serve the purpose of identifying illegalities, excesses or infractions of the law in any departments or levels

In a deft manoeuvering, Governor Abiola Ajimobi of Oyo State got ‘traditional backing’ for the Ibadan High Chiefs recently sacked by the State High Court as the Alaafin of Oyo, Oba Lamidi Adeyemi, in what was described as ‘State Council of Obas Consultative meeting,’ recommended the affected chiefs and 40 others for beaded crown-wearing and coronets bearing Obas in the state.

Unlike the August 27, 2017 elevation and promotion of eight high chiefs to beaded wearing Obas and about 13 Baales as coronet-bearing rulers, the latest development was anchored on the recommendation by the State Council of Obas.

The Osi Olubadan of Ibadan who is also a former governor of the state, Chief Rashidi Ladoja, had secured a court judgment against the processes that led to the promotion of his colleagues (High chiefs) to the kingship status by Ajimobi.

But the state government in a statement by its spokesman and Commissioner for Information Culture and Tourism, Mr. Toye Arulogun, yesterday said the government had approved beaded crowns and coronets for 48 Obas across the state, saying that the decision was taken after due consultation at a meeting with members of the Council of Obas and Chiefs.

According to him, the government’s approval was in line with the exercise of powers conferred on the governor by Section 28(1) of the Chiefs Law Cap 28, Vol. 1 Laws of Oyo State of Nigeria and by virtue of all other powers enabling in that behalf, stressing that the

approval has been gazetted with Oyo State Notice No. 20-67 of Oyo State of Nigeria Gazette No. 3, Vol. 43 published March 29, 2018 and endorsed under the governor’s command by the Secretary to the State Government, Ishmael Olalekan Alli.

He stated that 26 Obas would wear beaded-crown based on the approval, while the remaining 22 will be coronet wearing Obas, stating that over 100 applications were received for beaded crowns from all the geo-political zones of the state.

Arulogun disclosed that the consultative meeting with the Oyo State Council of Obas and chiefs was attended by 23 Obas and Chiefs led by the Alaafin of Oyo, Oba Lamidi Adeyemi, saying that three of the Obas could not attend due to old age while the other three others did not attend for different reasons.

The government’s spokesman stated that after a thorough and fruitful deliberation, the consultative meeting unanimously stepped down the approval for six chiefs, promising that further approvals will be issued in due course.

The report of the inquiry would be documented and made readily available to interested public in furtherance to assess public records as provided for in the Freedom of Information Act, 2012.

The Speaker of the House,

Hon. Yakubu Dogara, did not entertain debate on the motion since it’s investigative in other not to pre-empt the outcome.

“If you want to slaughter a bull, you don’t show the bull the knife,” the Speaker added.

N586m Debt: A’Court Rules against Kwara Tobi Soniyi ÓØ ËÑÙÝ The Ilorin Division of the Court of Appeal has ruled that Kwara State’s liability for the payment of N586 million to an engineering firm, Guthrie Nigeria Limited is not a subject of arbitration.

The court held that the incorporation of an arbitration clause in an agreement does not ipso facto mean that the suit filed consequent to the terms of the agreement must be referred to arbitration in all cases.

The firm had filed a suit against the Kwara State Government, Kwara State Ministry of Social Development, Environment and Tourism and the state’s Attorney General and Commissioner for Justice before a Kwara State High Court under the undefended lists

Ajimobi, Alaafin Okay Beaded Crowns, Coronets for Ibadan High Chiefs, 40 Others Ademola Babalola ÓØ ÌËÎËØ

of government, if any, and for purposes of guiding the public debate on the subject matter which for now remains a monologue and one-sided in the absence of fair hearing extended to all relevant arms of government, the National Assembly inclusive.

He pointed out that the elevation of the Baales stepped down would go for further consultations, noting that what the chiefs’ law requires consultation of the council and not approval.

He said beaded-crowns were approved for the Alajaawa of Ajaawa in Ogo-Oluwa Local Government area of the state, the Aale of Oke’Lerin in Ogbomoso North LG, the Onijabata of Jabata in Surulere LG, the Onigbeti of Igbeti in Olorunsogo LG, the Ajoriiwin of Irawo in Atisbo LG, the Asawo of Ayete in Ibarapa North LG, the Obalufon of Sepeteri in Saki East LG and the trio of the Oluigbo of Igbojaye, the Olokaka of Okaka and the Eleyinpo of Ipapo, in Itesiwaju LG. Others are the Oloje of OjeOwode in Saki East LG, the Otun Olubadan of Ibadanland in Ibadan South East LG, the Balogun of Ibadanland in Ibadan North East LG, the Osi Olubadan of Ibadanland in Ibadan South West LG, the Otun Balogun of Ibadanland in Ona-Ara LG, the Osi Balogun of Ibadanland in Ibadan North LG, the Ashipa Olubadan of Ibadanland in Ibadan North West.

seeking for the payment of the sums of N586million.

The plaintiff claimed that the money was due to it and that the Kwara State Government has refused to pay even though it had no reason for not paying.

However, upon being served with the writ of summons and the accompanying affidavit in support of the undefended list, the respondents filed a notice to intention to defend the suit, pursuant to Order 23 Rule 3(1) of the Kwara State High Court Civil Procedure Rules.

Apart from indicating their intention to defend the suit, the respondents also filed a notice of preliminary objection in which they asked the court to decline jurisdiction and After taken arguments from the parties, the trial judge, Justice A.M. Folayan upheld the objection and held that the case was governed by arbitration. He consequently asked the parties to resolve their

dispute through arbitration.

Guthrie Nigeria Limited was dissatisfied and filed an appeal before the Court of Appeal in Ilorin, Kwara State.

Justice Hamma Akawu Barka who delivered the lead judgment to which Justices Chidi Uwa and Moses Ugo concurred upheld the argument of the plaintiff/appellant.

His Lordship held that the trial judge ought to have determined the suit on its merit and should not have referred it to arbitration.

The court further held that the respondents had already taken steps to defend the suit after they filed a notice of intention to defend.

The court held: “By the filling of the notice of intention defend, with the accompanying affidavit, the respondents have more or less filed a defence as why judgment ought not to be entered for the plaintiff.

“It is akin to filing a statement of defence, and to me it amounted

to taking a sizable step in the proceedings.

“In the context of the case before us, can we say as being argued by the respondents that the filing of the notice of intention to defend, only amounted to putting in appearance in the suit, or that the notice and the preliminary objection having been filed simutaneuolsy, the notice of intention to defend should be construed as no step or action at all? I do not think so.”

He held that since the respondents have taken a step, the lower court was in error to have granted a stay of proceedings in view of the clear and plain provisions of Section 5 of the Arbitration and Conciliation Act. “The appeal succeeds and it is hereby allowed. The decision of the lower court delivered on the 23/3 2017 is hereby set aside,” the court held.

T H I S D AY ˾ FRIDAY, APRIL 27, 2018

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FRIDAYSPORTS

ÜÙßÚ ÚÙÜÞÝ ÎÓÞÙÜ Duro Ikhazuagbe ×ËÓÖ duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Port Harcourt to Host Eagles, Congo Friendly Ernest Chinwo in Port Harcourt The Rivers State Government has announced its readiness to host the international friendly between the Super Eagles and the Democratic Republic of Congo (DRC) at the Adokiye Amiesimaka Stadium in Port Harcourt on May 28.

The agreement for the hosting of the Super Eagles and Democratic Republic of Congo in Port Harcourt on May 28, 2018 was reached after a

high-profile meeting between the Rivers State Governor, Nyesom Wike; President of Nigeria Football Federation (NFF), Amaju Pinnick; and Super Eagles Coach, Gernot Rohr, at the Government House in Port Harcourt yesterday.

Addressing journalists after the meeting at the Government House yesterday, Rivers State Sports Commissioner, Boma Iyaye, said the state government would do everything possible to ensure that the Adokiye Amiesimaka Stadium is ready

for the International Friendly.

The state government thanked the NFF for their collaboration targeted at the development of football in the country.

He said: “Governor Wike has done well in terms of funding national sporting events. He hosted the African Wrestling Championship on behalf of the Federal Government.

Now he is hosting the Super Eagles and Democratic Republic of Congo on behalf of the Federal Government. This is

NBBF, Total Seal N60m Sponsorship Partnership Duro Ikhazuagbe Total Upstream Companies in Nigeria yesterday sealed a N60million partnership deal with the Nigeria Basketball Federation (NBBF) to become the proud sponsors of the federation’s Men’s National Division 1 and 2 leagues.

Speaking at the contract signing ceremony in Lagos yesterday, the Managing Director of Total, Nicolas Terraz said that the partnership was one of the ways the oil and gas company was helping to develop Nigerian sports.

He recalled that in 2016 Total became the title sponsor of the bi-annually African Cup of Nations (AFCON).

“So this sponsorship of the Nigerian basketball is a bold step in keeping with our philosophy

and ambition. It is a two-year deal and we are hopeful it will produce a lot of results in grassroots development,” observed the Total chief executive.

Under the sponsorship agreement, Total will become the proud sponsors of the NBBF men’s national divisions 1 and 2. “For us, this sponsorship is another way of reinforcing our partnership with Nigeria and our desire to support the development of Nigerian sports.

Having been in business in the country in the last 60 years, Terraz stressed: “We know that in Nigeria sports simply means unity, friendship, solidarity and energy.”

President of the NBBF, Ahmadu Musa Kida, thanked the oil and gas major for helping to develop the game through the sponsorship.

Kida who also doubles as the Deputy Managing Director of Total, described the partnership as the first in the history of the lower league played previously without any sponsor.

“This is the first time the federation is securing sponsorships for any of its lower leagues.

Without this Total’s sponsorship, administering the league to enable it achieve its set objectives would have been difficult,” Kida said.

Although no tentative dates have been fixed for the commencement of the Men’s National Division 1 and 2, the NBBF boss noted that 74 teams, two from each of the 36 states and Abuja are to feature in the lower Division 2.

The Total Men’s National Division 1 League would feature the eight teams each in Atlantic and Savannah conferences respectively.

something that is worthy of commendation.”

Also speaking, President of the NFF, Amaju Pinnick, commended the Rivers State Government and the people of the state for their unflinching support for the Super Eagles.

He said the NFF is happy with the state of facilities at the Adokiye Amiesimaka Stadium.

“We are playing on the 28th of May, 2018 against the Democratic Republic of Congo. After the match, the Rivers State governor will host the two teams to a

dinner,” he said.

He said that the CAF President, Ahmad, would watch the international friendly in Port Harcourt.

“Everywhere is home to the Super Eagles. Lagos, Port Harcourt, Uyo, Kano, Kaduna or Minna. They are Super Eagles of Nigeria and every part is integral to the development of football, “ Pinnick said.

The NFF President outlined the World Cup preparation programme of the Super Eagles, saying y g that the target g of the team

is to lift the World Cup. Super Eagles Coach, Gerhard Rohr, said the Super Eagles need three major international friendlies to be prepared for the World Cup. Rohr said that he expects the Adokiye Amiesimaka Stadium to be fully ready for the Congolese friendly by the next four weeks.

He said some key players of the team are injured currently, stressing that those on the injury list would be nurtured to fitness ahead of the World Cup.

OFF, YOU GO… Atletico Madrid’s Sime Vrsaljko (left) was sent off from his team’s UEFA Europa League semi final first leg clash with Arsenal at Emirates Stadium in North London yesterday. The game ended 1-1 while Marseille defeated Salzburg 2-0 in the other second Europa semi final game.

Messi Wins Fight to Register Himself as Trademark A European court has ruled that Lionel Messi, the world’s top earning footballer, can trademark his own name.

The Barcelona and Argentina striker fought a seven-year fight to be able to use his name on sports goods.

His original application was challenged by the Spanish cycling brand, Massi, which argued that the names were too similar and would cause confusion.

But the EU’s General Court ruled that the footballer was too well known for confusion to arise.

The ruling comes days after France Football magazine reported Mr Messi had overtaken Cristiano

Ronaldo as the highest earner in football, with an income of €126m (£108m).

Mr Ronaldo is making €94m, the magazine said.

Mr Messi’s application to trademark his name was made to the European Union Office for Intellectual Property (EUIPO) in 2011.

It ruled against the footballer, saying the names were similar, because their dominant elements, “consisting of the terms ‘Massi’ and ‘Messi’, are almost identical visually and phonetically”.

EUIPO said that only some people would be aware the two were different.

But the General Court, the EU’s second highest court, disagreed.

It said on Thursday: “The football player’s fame counteracts the visual and phonetic similarities” with Massi.

“Mr Messi is, in fact, a wellknown public figure who can be seen on television and who is regularly discussed on television or on the radio,” the court said.

Widely considered one of the world’s greatest soccer players, Mr Messi, 30, scored his 600th professional goal last month and is the alltime highest scorer for both Barcelona and Argentina’s national team.

SuperSport World Cup Pop-Up Channel Goes Live on GOtv SuperSport pop-up channel for the World Cup, last week, launched on SS14, giving DStv customers the opportunity to ‘Connect with Greatness’ ahead of the tournament kick-off on 15 June.

This week, starting from Wednesday, April 25, GOtv Plus and Max customers can also get in on the action, as the pop-up channel (GOtv channel 36) goes live.

The channel offers an assortment of content, including great legacy footage of players, highlights, documentaries, FIFA

films, classic matches and interviews.

The pop-up channels will equally provide a telescopic view into the legacy of the FIFA World Cup, from short stories like Africa Odyssey, that focuses on the spectacular rise of African football on the World Cup stage, to longer length documentaries likeFutebol Arte that follows the narrative of the 1982 FIFA World Cup, when Brazil’s legendary team failed to win the title despite capturing the hearts of fans worldwide.

Chief Executive of SuperSport, Gideon Khobane, said yesterday: “I can say without fear of contradiction that the FIFA World Cup is perhaps the one sport event that locks in every nation on earth.

With a storied history and great highlights, it lends itself to television broadcasts in every way. This pop-up channel signals SuperSport’s bold intention to help fans connect with greatness long before the 2018 edition begins – we hope they enjoy it as it’s only available on DStv and GOtv.”

LaLiga Signs Regional Partnership with Big Cola LaLiga and AJEAST Nigeria, the makers of Big Cola, yesterday announced the signing of an agreement under which the multinational beverage company has become the latest regional partner of the Spanish top division league in the country.

At a well-attended press conference in Lagos yesterday, the LaLiaga’s Head of Global Partnership Sales, Gregory Bolle, the Country’s Director of AJEAST Nigeria, Mr. Theo Williams and the Marketing Manager, Big Cola Nigeria, Mrs. Perpetual Ohiri, all spoke with one voice and on the need to support the most glamorous

the company was proud to the associated with the best league in the world noting that the platform will provide a remarkable opportunity to broaden Big Cola’s profile and values noting that another distinctive experience for football fans all over Nigeria.

Under the agreement, AJEAST Nigeria will gain access to intellectual property and marketing rights, tickets and hospitality deals, merchandising, rights to digital assets and social media, public viewing events for El Clasico, access to trophy tours and exclusive content from the 20 clubs participating the Spanish league.

league in the world.

Mr. Bolle in his reaction to the deal said that “LaLiga loves Africa and Nigeria is a strategic country for us because of its fans and numerous football talents such as Francis Uzoho of Deportivo La Coruna and Etebo Oghenekaro of UD Las Palmas.

“LaLiga is proud to kick off this partnership with a leading beverage brand such as Big Cola and the action will allow our millions of Nigerian LaLiga fans to further engage with the best league in the world,” he stated.

In his response, the Director of AJEAST, Mr. Williams said

B O A L AW Y E R S ’ F O OT B A L L L E A G U E

Dream Q’final Fixture as Falana Takes on BA Law/Probitas After the second leg fixtures of the Round of 16 matches of the ongoing 2018 Bankole Olumide Aluko (BOA) Lawyers’ Football Tournament ended last weekend with a former champion Lagos State Ministry of Justice (LSMJ), the law firms of Babalakin and Jackson Etti/Edu sent packing, actions continue on Sunday with the

quarter final games.

In the draws for the quarterfinals decided yesterday at the AstroTurf 2000, venue of the tournament in Ikoyi, Lagos, favourites Falana & Falana was paired against another high-scoring side, BA Law/Probitas.

Falana was ruthless against Jackson Etti/Edu reaching the

quarterfinal on aggregate score of 9-0! After the first leg 4-0 advantage, Adedotun Ishola scored a brace while Tayo Fashesin, Femi Bada and Tony Ajadi contributed one goal apiece for Falana to rout Etti/ Edu 5-0 in the reverse fixture.

BA Law/Probitas was equally clinical in the second leg fixture against Punuka, scoring five

un-replied goals to book the quarterfinal ticket on 6-0 aggregate.

This scenario makes the quarterfinal pairing of Falana versus BA Law/Probitas an interesting one.

Olisa Agbakoba Legal on the other hand was lucky to overcome another former champions LSMJ 3-2 in penalty shoot out. The

second leg had ended same goalless as their first meeting before the game dragged into penalty kicks.

OAL opponents in this weekend’s quarterfinal clash, ALP/ SPA, narrowly squeezed into the Last 8 with a slim 1-0 second leg victory against Pinheiro.

The other two fixtures

for Sunday include; SOOB/ NICCOM versus Rickey Tarfa; and ADVOCAAT versus Banwo & Ighodalo.

This is the 16th edition of the annual BOA Lawyers Football Tournament named after Mr. Bankole Olumide Aluko, a founding partner in the law firm of Aluko & Oyebode (A&O).

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MISSILE Iorapuu to Police â&#x20AC;&#x153;The police seem to know nothing of the attacks which have been going on in other villages within Benue State since the Anti-Open Grazing Law came into eďŹ&#x20AC;ect last year.â&#x20AC;? â&#x20AC;&#x201C; Director of Communications of the Diocese in Makurdi, Benue State Fr. Moses Iorapuu accusing the police of turning a blind eye to the incessant killings by suspected Fulani herders in Tiv communities.

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Osinbajo Unlike the Biblical Daniel

O

f late, the Pharisee called Professor Yemi Osinbajo has been on a roll with his scalding attacks on the immediate-past government. Many are wondering if his pleasant posture when he was the acting president was an adopted persona for personal political gain.

Now, as the 2019 election approaches with all its permutations, amid the failure of his party to deliver on its electoral promises, his attacks have grown in intensity. He wants to be seen as some sort of hero and the personification of virtue and ethics for a new Nigeria. But he is not.

He was perhaps also eager to impress his principal - and the world to believe this government is transparent, prudent and abhors corruption.

Osinbajo has become the new messenger of a message stymied by its own apostle. He wants everyone to believe he is tough. Unfortunately, the reality also is that he is not. The truth is that our vice-president is a spineless professor.

His pastoral calling and erudition, he had reckoned, would sway his audience as he breathlessly recounted in public events how the previous government stole the nation blind. But his sanctimonious posture about the saint-like character of the Buhari government is undermined by the public evidence of malfeasance going on under their watch. To be honest, Osinbajo initially projected a patina of professionalism in a motley crowd of confused politicians and earned some public applause and praise as the elixir in the mix.

His populist visits to airports, markets and filling stations, even though were publicity stunts, were refreshing and momentarily soothing to the feel, as cosmetic as they were to the underlying problems of mismanagement and the lack of maintenance.

But all that seems to have given way, revealing a less-than-noble image of a man too imbued with his own self-righteousness. His jubilant regurgitation of huge amounts of money stolen by others while ignoring the loud evidence against his own party men is a telling testament to the fact that the so-called man of God is not a man of truth. I had been reluctant to call him out on his actions, because of his peculiar circumstances and out of respect for his pastoral calling. But his hypocrisy was getting bigger by the day.

How did things get to this point?

Well, there is a proverb in the land of my fathers that when an otherwise intelligent person mixes with too many clowns, over time, it will become difficult to differentiate one from the other. Osinbajo makes the truth messy in his quest to label others.

If he was not ashamed of the two partisan lootersâ&#x20AC;&#x2122; lists his government released recently, then I make bold to say Osinbajo cannot be trusted as a fair arbiter of truth. And when next he stands on the pulpit preaching the word of God, I will flee the venue. Remember, the Bible warns us to be careful that towards the end, many false prophets will come and will perform miracles in Godâ&#x20AC;&#x2122;s name.

His recent public outings appeared deliberately and desperately designed to shore up the sagging image of his party and its narrative. And to achieve this, Osinbajo deployed pointed hyperboles and pathetic hypocrisies to drive home his message of â&#x20AC;&#x153;they are corrupt, we are cleanâ&#x20AC;?. The irony here is that those still on trial over humongous looting of the treasury but switched from the â&#x20AC;&#x153;party of

Osinbajo the corrupt, the PDP to the party of the saint, the APCâ&#x20AC;?, were suddenly given the deodorant treatment. In Osinbajoâ&#x20AC;&#x2122;s world of dual morality, these ex-sinners are not looters and their loot cannot be used to build schools, hospitals, provide potable drinking water and construct roads, build bridges etc. As the Americans would say, gimme a break!

If people were easily taken in by a bait-andswitch campaign in 2015 to get the APC elected, I can assure Osinbajo that he has to try harder this time around. Why? Because the supposedly penniless man of integrity (was he really penniless in the first place?) who was trusted to right all the wrongs has proved to be a total disappointment on all fronts. The man has surrounded himself with the putative culprits of the system who are still offending. Osinbajoâ&#x20AC;&#x2122;s pastoral morality which had served as a cover for hypocrisy would fail.

Ordinarily, Osinbajo is a man who would have been after my own heart. He approximates Nigeriaâ&#x20AC;&#x2122;s new-breed leaders many yearn for. But he appears to have been sucked into the old ways of doing things by his long association with his godfather; unlike the biblical Daniel who when he found himself in a similar situation, displayed an excellent spirit (Daniel 1:8). Osinbajo lacks the critical distance needed from the past because he is inextricably tied to the apron strings of Bola Tinubu, a former governor of Lagos State.

Until Tinubuâ&#x20AC;&#x2122;s regime is probed (I am waiting patiently for that day) for a full accounting and he (Osinbajo) emerges unscathed, I will be reluctant to roll out the red carpet for him. For those who donâ&#x20AC;&#x2122;t know, Osinbajo served as the Attorney General and Commissioner for Justice for eight years when Tinubu held sway as the governor of Lagos State.

Even more crucial to my grouse about Osinbajo is that he lacks the gumption of a leader and a redeemer he postures to be. He failed the leadership test when under his watch as the acting president, a coalition of northern groups, Arewa Youths Consultative Forum, issued a reckless six-month ultimatum to people of Igbo extraction living in the North to vacate the region before October 1, 2017. What did he do? Nothing! In short, for a long time, he failed to make any comment on the issue. When he finally did, he was appeasing, pleading and making general statements about

the need for unity. That single incident injured my estimation and respect for the vice-president.

I expected him to order the immediate arrest of those who issued that statement to send a powerful deterrent message to narrow ethnic agitators in the country that he would not tolerate their challenge. He would have acted against those folks with the full arsenal of the coercive force of the state and the heavens would not have fallen.

Having seen that the acting president lacked the ability to enforce and deter, the guys who issued the ultimatum started to stroll about the country unhindered. If they were testing Osinbajoâ&#x20AC;&#x2122;s will to act, they clearly won.

I donâ&#x20AC;&#x2122;t know if members of the Buhari cabinet think highly of him either. If they do, then it certainly didnâ&#x20AC;&#x2122;t look that way when he was the acting president. Remember how the Attorney General of the Federation and Minister of Justice, Abubakar Malami, casually dismissed Osinbajoâ&#x20AC;&#x2122;s endorsement of the EFCC Chairman, Ibrahim Maguâ&#x20AC;&#x2122;s continuous stay as the anti-graft agencyâ&#x20AC;&#x2122;s helmsman, as his personal opinion? Because according to him, â&#x20AC;&#x153;The fundamental consideration about the alleged statement is the fact that at no point ever did the Federal Executive Council sit down to arrive at the decision in one way or the other as far as the issue of nomination or otherwise is concerned.â&#x20AC;?

When Osinbajo was the acting president, a large chunk of the $25 billion contracts were awarded by the GMD of NNPC, Maikanti Baru without going through due process, nor was the approval of the board obtained. It is a measure of how â&#x20AC;&#x153;highlyâ&#x20AC;? top officials of this government regard him that even while presidential authority had been transferred to him as the â&#x20AC;&#x153;coordinatorâ&#x20AC;?, Baru would sneak out of town to take contract papers to Buhari who was at the time marooned in a London hospital to sign.

Osinbajo has so far failed to utter any statement of condemnation (until this weekâ&#x20AC;&#x2122;s killings in Benue) of terrorist-Fulani herdsmen as they continue the mindless killing of innocent people all over the country. I donâ&#x20AC;&#x2122;t know how this man-of-God pastor sleeps at night knowing that the elected government he serves in as the number two is a government that attaches more value to the lives of cows than that of humans. I hope one day when he returns to the pulpit to preach the word of God, he will not have cows as his congregation. Remember the Benue State government had accused him of failing to act when as the acting president, the state government alerted him of a plot by terrorist-Fulani herdsmen to unleash violence on some communities in the state. He however denied he was notified.

Sometime last year, Osinbajo in his attempt to impress his boss amid the groundswell of agitation for the restructuring of the country, derided those protesting against their marginalisation by this government. This was how he put it: â&#x20AC;&#x153;It is also not true that those who make marginalisation charges are altruistic. Often what they are saying is I am marginalised, appoint me.â&#x20AC;?

I was shocked to the marrow by that statement.

Really, I asked myself, how can the cry of maginalisation caused by the deliberate policies of this government and the subsequent clamour for restructuring of the country to make it

work better, suddenly translate to seeking appointment from this government. What an insult from Pastor Osinbajo! Is this what small power does to even men of God? Why was he so willing to stake his reputation on another manâ&#x20AC;&#x2122;s conscience?

We saw this before in 2015. Babatunde Fashola, the then governor of Lagos State was all over the place campaigning for Buhari. He lured many to believe the many lies told about the leadership prowess of Buhari to deliver.

Today as a minister, Fashola has lost his voice and credibility. Shortly after he handed over power in Lagos, he was found to have misused public money on an industrial scale â&#x20AC;&#x201C; including inflated contracts to dig two boreholes for a whopping sum of N139 million, upgrade of his personal website for N78.3 million, and sundry malfeasance. Osinbajo is treading the same path as the new poster boy of 2019 to re-elect Buhari even in the face of his glaring failure. He is desperately blaming others for Buhariâ&#x20AC;&#x2122;s colossal failure. He has so far failed to tell Nigerians what Buhari has achieved in three years to deserve a second term other than to say the previous government stole this and that amount.

Now to the very critical point: By now everybody knows the Peoples Democratic Party (PDP) looted public treasury to finance the 2015 election. Osinbajo has repeatedly stated this much in his public statements. But what Osinbajo has not ventured to tell the public is how the All Progressives Congress (APC) raised money to finance the 2015 campaign.

Charity they say begins at home. If Pastor Osinbajo wanted to succeed in his campaign against corruption, he should have started the cleansing with his party and then apply the same standards to all others.

Only recently, the INEC admitted the Edo and Ondo governorship elections were heavily corrupted and that victory went to the highest bidder. Need I remind Osinbajo that his party, the APC, won the elections? The question is, where did the money used to procure the mandates come from? A man who runs from the truth will eventually find out heâ&#x20AC;&#x2122;s got no place to go.

Oh, I just remembered. Someone whispered to me that Osinbajo may have prayed and fasted for seven days, thereafter, the heavens opened and money in different currencies, particularly the U.S dollar and British pounds poured forth and filled Osinbajoâ&#x20AC;&#x2122;s house â&#x20AC;&#x201C; and this was used to finance Buhariâ&#x20AC;&#x2122;s election and the APCâ&#x20AC;&#x2122;s wins in the two states.

Not long after his unfortunate job-seeking remark, Osinbajo declared that Buhariâ&#x20AC;&#x2122;s appointments were in favour of the South. It was one more instance when our so-called man of God stood facts on their heads. In case he did not know, the heads of the entire national security positions in this country are under the firm control of one ethnic group.

Now, letâ&#x20AC;&#x2122;s imagine for a moment that Osinbajo was not a part of this government; would he have muttered all this nonsense? I guess not!

One last word for the pastor vice president, no man has ever succeeded in separating himself from his shadow.

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