Report Explains Effect of Nigeria’s Low Minimum Wage on Workers’Output Obinna Chima A report by the Financial Derivatives Company Limited (FDC) on the comparative assessment between the minimum wage in Nigeria and five other countries, namely, Norway, Luxemburg, the United States, Belgium and The Netherlands, has revealed the effects of low pay
in Nigeria on the productivity of the country’s workforce. The report titled, “Workers’ Day- Solidarity Forever,� issued yesterday by Lagosbased research and financial advisory firm, showed that the low minimum wage in the country was negatively
impacting on workers’ output. Nigerian workers on Tuesday joined their counterparts all over the world to mark the 2018 Labour Day. They also used the day to renew their call for an upward review of the country’s minimum wage from
N18,000 to N65,000. FDC, in the 17-page report, compared the Gross Domestic Product (GDP), GDP per hour worked, and minimum wage dollar per month between Norway, Luxemburg, the U.S., Belgium, Netherlands and Nigeria.
Compared with the five countries, the findings showed that the Nigerian economy which grew at 0.83 per cent in 2017, had a GDP per hour worked of 3.78 and workers’ minimum wage (dollar/per month) of $50, the lowest of the six countries.
Forte Oil to Sell Nigerian Assets, Pulls out of Ghana... Page 51
For instance, while Norway’s GDP grew at 1.1 per cent in 2017, with a GDP per hour worked of 75.08, had a minimum wage (dollar per month) of $3,500; while Luxembourg with a GDP growth rate of 4.2 per cent, GDP per hour worked of 73.22, had a minimum wage (dollar/ Continued on page 6
Thursday 3 May, 2018 Vol 23. No 8414. Price: N250
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Melaye Arraigned for Alleged Suicide Attempt, Granted Bail Senator rearrested, security beefed up in Lokoja for another trial today Again, IG shuns Senate over Melaye, renewed killings Damilola Oyedele, Paul Obi, Alex Enumah in Abuja and Yekini Jimoh in Lokoja Senator Dino Melaye was yesterday arraigned before a
Chief Magistrate’s Court in Abuja for alleged attempted suicide and escaping from police custody. The senator, who was arraigned by the Nigeria
Police, was carried into the court on a stretcher, under heavy security. Melaye, who represents Kogi West Senatorial District in the National Assembly, is also
being prosecuted for alleged conspiracy and unlawful possession of firearms, which the police said yesterday they intend to pursue with his arraignment in Lokoja, the
Kogi State capital, today. His arraignment for allegedly trying to kill himself and escaping from police custody coincided with the refusal by the Inspector
General of Police, Mr. Ibrahim Idris to appear before the Senate over what it termed Melaye’s maltreatment by the Continued on page 8
Make Restructuring Precondition for Choice of Candidates, Anyaoku Tells Nigerians Obasanjo recalls rejection by Adesanya before contesting presidency Segun James Elder statesman and former Secretary-General of the Commonwealth, Chief Emeka Anyaoku has urged the electorate to make restructuring a precondition for voting for candidates in next year’s general election. Anyaoku’s advocacy got the support of the President-General of the Ohanaeze Ndigbo, Chief Nnia Nwodo, who also called for a “detribalised leadership�, and former military governor of the old Rivers State in the 1970s, General Zamani Lekwot.
Anyaoku was the guest speaker at a symposium on “ Leadership and the Future of Nigeria�, held in Lagos yesterday in honour of the late leader of Afenifere and National Democratic Coalition (NADECO), Senator Abraham Adesanya, who died 10 years ago. The chairman of the occasion was former Head of State, General Abdulsalami Abubakar, who said Adesanya’s “politics of principle� should inspire today’s politicians. Continued on page 6
Dokpesi's US Visa Revoked over Looters List... Page 49
FRENEMIES MEET AGAIN... L-R: Former President Olusegun Obasanjo; former Minister of State for Defence, Mrs. Dupe Adelaja; and former Vice-President and Peoples Democratic Party (PDP) presidential aspirant, Alhaji Atiku Abubakar, at the symposium held in honour of the late Senator Abraham Adesanya at the Muson Centre, Lagos... yesterday kola olasupo
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PAGE SIX MAKE RESTRUCTURING PRECONDITION FOR CHOICE OF CANDIDATES, ANYAOKU TELLS NIGERIANS Delivering his lecture, Anyaoku restated his call for Nigeria to be restructured into eight federating units so as not to disintegrate like the defunct Yugoslavia Rebublic. Anyaoku warned that Nigeria would not achieve enduring political stability or realise its deserved potential with its present non-conducive “federal� constitution. According to him, “I want to reiterate the view that I have been expressing since my return to Nigeria in 2000, namely, that based on the experience of other similarly pluralistic countries across the world, Nigeria will not achieve enduring political stability or realise its deserved development potential with its present non-conducive ‘federal’ constitution.� He called on the executive and members of the National Assembly to heed the growing warning signs of potential national disaster by agreeing to adopt restructured true federalism, which he said would provide the best basis for the realisation of the Nigerian nation that everyone desires, and a stable, united and socio-economically fast developing country with a correspondingly accountable and citizen-empathetic leadership. As the 2019 general election approaches, Anyaoku also urged all intending voters to regard a firm unambiguous and time-specific commitment to the restructuring of Nigeria’s present governance architecture as the pre-requisite for voting for any political party and its candidates. He stated that restructuring Nigeria’s present governance architecture by returning to the provisions of its 1960 and 1963 constitutional arrangements would not only help the emergence of a leadership that would pave the way for a national rebirth but would also put the country on a more assured path to political stability and faster socio-economic development. “Taking into account the historical and current developments, including especially the continuing outrageous killings in the North Central zone of the country, I am proposing a restructuring of Nigeria into
a true federation of eight federating units comprising the existing six geo-political zones plus a restored old Mid-West region and a newly created Middle Belt federating unit. “The present mostly nonviable 36 states, many of which can no longer pay the salaries of their workers, should be retained in the new federating units but as development zones to be administered without their current costly executive and administrative institutions,� he said. According to him, it would be for each federating unit to decide if and when to create within it, additional development zone(s) in response to any genuine cry of marginalisation. In addition to considerably reducing the overall cost of recurrent expenditure, which he put at about 80 per cent of the national revenue, Anyaoku argued that the new bigger and more viable federating units, with their regional police forces, could better monitor and enforce the security of the citizens. He stated that each federating unit could pursue at its own pace and on a more sustainable basis its economic, education and health facilities development, and could more effectively check corruption and hold administrations to greater accountability. “Such restructured governance architecture will facilitate overall national economic productivity and bring about the necessary shift away from the present virtually unitary structure which encourages the 36 states and Federal Capital Territory (Abuja) to rely on a philosophy of ‘sharing the national cake’,� he added. If adopted, dividing the nation into eight federating units would encourage the more viable federating units to focus on productivity and internally generated revenue, Anyaoku noted. Restructured federalism, he said, would also rekindle among the citizenry a sense of nationalism and the spirit of unity in diversity. “The more viable and fewer federating units will also discourage the ‘do or die’ politics which in the competition for the all-powerful
centre exacerbates the divisive tendencies within the country; and the centre because of its reduced responsibilities and the consequent significantly reduced ‘national cake’ to share will become less attractive to our power-hungry politicians,� Anyaoku noted. He stated that it was the true federal governance arrangement, which during the First Republic guaranteed such a balance of power between the centre and the regions that led Sir Ahmadu Bello to prefer remaining Premier of the Northern region and sending his lieutenant, Sir Tafawa Balewa, to the centre as prime minister. The same, he said, also applied to Ahmadu Bello’s counterparts in the Eastern and Western regions, Dr. Michael Okpara and Chief Obafemi Awolowo respectively, and later Chief Denis Osadebey in the Mid-West region. He said they all gave meaningful leadership in their various regions, which according to Anyaoku, cumulatively enabled Nigeria to have veritable influence and standing in the international arena during that period. He also blamed Nigeria’s lack of progress on the military, observing that Nigeria’s political and economic progress began its retrogression with the military intervention in the country’s governance in January 1966. “For thirty-three years thereafter until May 1999, minus the relatively short period of the Second Republic (October 1979 to December 1983), the successive military regimes became responsible for dismantling the foundations of the country’s political stability and economic progress. “First, they dismantled the country’s true federal structure which had been carefully negotiated and agreed as the basis for stability and progress by the nation’s founding fathers, and in its place introduced a series of constitutional arrangements that reflected the army command structure, thereby transforming the central government to the equivalent of the supreme military commander whose orders must be obeyed by all the rank and file, in this case the federating units.
“Second, they replaced the negotiated and democratic process of creating new federating units, as was done when the new Mid-West region was created in August 1963, with the arbitrary creation of federating units by military fiat. “Thirdly, they imported and sustained the culture of impunity which is a natural concomitant of rule by force. As has been amply demonstrated, impunity not only vitiates the rule of law, it also facilitates corruption,� he said. He, however, added that the retardation of Nigeria’s progress should not be blamed solely on the military, saying that the civilians, some of whom had been involved in encouraging and supporting the various coups, and many of whom as politicians whose brand of politics have promoted corruption and divisiveness in the polity, have their fair share of responsibility for the current very worrying state of affairs in Nigeria. He identified some of the challenges facing the country as: a totally enervating atmosphere of moral and ethical decadence; debilitating rancorous politics that is partly exacerbated by lopsided federal appointments; increased divisiveness and lack of cohesion as the country slides deeper into ethno-religious and sectarian divisions; a limping weak mono-crop-economy in which values are hardly added; loss of the country’s influence and standing abroad; and a growing insecurity of life and property with sickening daily reports of killings of human beings. Also speaking at the event, Second Republic senator, Prof. Banji Akintoye said the right steps must be taken urgently to save the country from disintegration, warning that Nigeria might break if urgent steps are not taken to restructure the country. “We need to do what is right to keep our country together. It is a miracle that Nigeria has not broken up. But if Nigeria does not take right steps urgently to restructure itself and return to true federalism, Nigeria may break up. “The break up of the Soviet Union has shown that any country can break up. So, for
us to make sure that Nigeria does not break up, the first thing we must do urgently is to sit down and discuss how to restructure the country. “Some leaders have destroyed the country, so there is need to rebuild it as fast as possible,� he said. In his contribution, Lekwot said Nigeria must be restructured to set the country on the right path. He also called for empowerment of the judiciary against political interference, adding that more courts should be established to ensure the quick dispensation of justice. He said: “Those who are against restructuring should come out and table their fears and we will discuss them. If we don’t restructure Nigeria, the structure will collapse one day. We need to restructure and do what is right to set Nigeria on the right path. “We must empower the judicial system against political interference. We must also empower the police and other security agencies, which are presently ill-equipped. I believe that restructuring will create room for community and state police. “Some officeholders today enjoys impunity because nobody holds them accountable. Something should be done to checkmate that,� he added. In her address, former managing director of Concord Newspapers, Dr. Doyin Abiola, said it was time for Nigeria to start working towards real change in the country by ensuring that educated people are elected into leadership positions to steer the ship of the country. She also called on women to be actively involved in the affairs of the country, adding that the input of women as home builders would contribute meaningfully to have a Nigeria that works. Former President Olusegun Obasanjo, who also attended the event, narrated how he met the late Adesanya when he (Obasanjo) was about to contest for the presidency in 1999. The former president said: “I did not know late Pa Adesanya in my early days or in his early days in politics. I came to know
him when I was going into politics and for necessity, the paths of politicians do cross.� Obasanjo said after he had accepted to run for the office of president, he decided to consult and meet with political leaders all over the country. “One of the leaders I had to meet was Pa Abraham Adesanya. The first time I met him, he received me warmly and that was the first time I met his daughter — Mrs. Dupe Adelaja — who became one of my ministers. “When I met Pa Adesanya, he did not mince words at all and went straight to ask why I came, as I was not with the Afenifere and NADECO group. “I told him that ‘as a politician and well-bred Yoruba boy, I have to pay homage and consult you’. Baba told me he would not support me. “I told him it was my duty and responsibility to inform him I was going into politics and we parted. “As I went on with the consultations, I met him a second time and the same thing happened. I told him I came to give him my progress report and he said again, ‘We will not support you,’ and I said alright. “Again, he asked me why I was not in their group and I told him their group was alright but it was limited, and I believed that we should not be limited. He told me again that they would not support me. “I visited him a third time; this was just before the election. I told him I came to give him an update and the third time Baba said, ‘We will not support you.’ “And of course, as the results of the election turned out, I was not supported by the Yorubas in the South-west for the 1999 election,� he recalled. Obasanjo said, however, that he did not regret appointing the late Bola Ige and Dupe Adelaja, who were members of the Alliance for Democracy (AD), as ministers during his administration. “But then, Pa Adesanya did not know how his daughter, Dupe became a minister in my government because I did not consult him. On the two
that while prices of some foodstuff in Nigeria declined compared with last year, in line with the decelerating level of inflation, some others have maintained an upward trend. Also, for school fees, the report which reflected the fees charged by two private schools – Holy Child College, Lagos and Corona – showed an increase between 2017 and 2018. While that of Holy Child rose marginally by 1.117 per cent to N290,000 in 2018, from N250,000 in 2017, the school fees at Corona climbed by 9.96 per cent to N405,000 this year, from the N371,000 last year. For medical bills, the average cost of X-ray in the country remained flat at N5,000, while basic lab tests rose by 30.8 per cent, to N8,500 this year, from N6,500 last year. The average cost of internet data however nosedived by 20 per cent, from N1,500 in 2017, to N1,200 this year. FDC projected an increase in rent and naira liquidity due to election spending, as well as airfares due to high political travelling, between 2018 and 2019. But while school fees were predicted to remain flat, food
prices were expected to increase due to seasonalities and transport fares to be driven by supply shocks, such as fuel scarcity.
Continued on page 8
REPORT EXPLAINS EFFECT OF NIGERIA’S LOW MINIMUM WAGE ON WORKERS’ OUTPUT per month) of $2,230. Also, the U.S. with a GDP growth rate of 1.6 per cent in 2017, GDP per hour worked at 67.32, had a minimum wage ($/month) of $1,257; Belgium recorded a GDP growth rate of 1.2 per cent, GDP per hour worked of 60.98 and minimum wage of $1,888.34; while the Netherlands with a GDP growth rate of 2.1 per cent, had a GDP per hour worked of 60.06 per cent and a minimum wage of $1,611. Furthermore, the report listed Cuba, Kyrgyzstan, Bangladesh, Malawi and The Gambia as countries with the lowest minimum wage. For Cuba, with a GDP growth of 4.4 per cent, its minimum wage dollar per month was put at $9; Kyrgyzstan with a GDP growth of 3.8 per cent, has a minimum wage dollar per month of $14; Bangladesh whose GDP growth was at 7.3 per cent, has a minimum wage $/month of $19; Malawi with a GDP growth of 5.6 per cent, has a minimum wage $/month of $28.2; and The Gambia with a GDP growth rate of 5.1 per cent, has a minimum wage $/ per month of $37.5. In another comparison of economic indicators such as
interest rates, GDP growth rate and the minimum wage between Nigeria and some other African countries, it showed that Ghana (GDP- 8.5%, interest rate - 18 per cent, minimum wage $/ month - $57); Kenya (GDP as at Q3 2017 - 4.4%, interest rate - 9.5%, minimum wage at $/ month -$69); South Africa (GDP as at Q4 2017 - 1.5%, interest rate - 6.5%, minimum wage $/ month -$206 per month); and Angola (GDP - 0.94, interest rate -18 per cent, and minimum wage at $/month of $68.43 per month). Also, while Ghana’s inflation was put at 10.3 per cent, its unemployment stood at 5.77 per cent and has an income per capita of $1,707.70, South Africa’s was put at four per cent, unemployment rate at 26.7 per cent and income per capita of $7,504.30, while Kenya with an inflation rate of 4.18 per cent and unemployment rate of 11 per cent, has an income per capita of $1,143.10. According to the report, unemployment in Nigeria has risen by 44 per cent, from 14.4 per cent in the first quarter of 2017, to 18.8 per cent in third quarter 2017, just as underemployment also increased by 0.8 per cent, to 21.2 per cent in Q3 2017, from
20.4 per cent in Q1 2017. The Misery Index, which measures well-being in an economy, also worsened in Nigeria, as it rose to 53.34 per cent in 2018, from 51.05 per cent last year, just as income inequality widened by 7.23 per cent to 43 per cent in 2018, from 40.1 last year. Also, income per capita in Nigeria fell from $2,562.5 in 2017 to $2,457.8 in 2018, while labour productivity worsened from -1.4 per cent in 2017, to -0.9 per cent in 2018. FDC further put the number of terrorist attacks in the country in the first four months of 2018 at 25. Ninety were recored in 2017. However, the Human Capital Index rating for the country rose to 152nd place, from the 151st position last year, while life expectancy was put at 53.05. According to the report, 15.9 million (18.8%) Nigerians are unemployed, with urban unemployment put at 19.9 million (23.4%), while 18 million (21.2%) Nigerians are underemployed. FDC put rural unemployment at 13.9 million (16.4%), male unemployment at 14.03 million (16.5%) and female unemployment at 18.02 million
(21.2%). The latest National Bureau of Statistic figures had shown that unemployment in Nigeria increased for the 12th consecutive quarter since the fourth quarter of 2014. On state-by-state basis, the FDC report showed Kwara (10%) as a state with the lowest inflation rate. It was followed by Kogi (11%), Delta (11%), Edo (12%), Benue (12%), Taraba (28.4%), Kaduna (29%), Imo (29.5%), Osun (32%), Ogun (34.1), Oyo (37.1%), Kwara (41.3%), Rivers (41.8), Akwa Ibom (36.6%), Bayelsa (30.4%), Oyo (37%), Kwara (41.3%) and Rivers (41.8%), in that order. The report also said that states with high internally generated revenue (IGR) have high allocations from the Federation Account. That is, Lagos with an IGR of N333.97 billion in 2017, got an average of N9.72 billion from FAAC monthly, while Rivers whose IGR was put at N89.48 billion, receives an average of N15.04 billion from the Federation Account, just as Delta whose IGR was put at N74.84 billion received an average of N17.7 billion from FAAC monthly. In addition, the report revealed
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NGN NGN 16.70 191.50 0.08 0.92 0.14 1.66 0.05 1.05 0.01 0.22 NGN NGN 1.25 12.05 0.65 13.15 0.02 0.49 WAPIC 0.02 0.53 NIGERINSUR 0.01 0.29 HPE Nestle Nig Plc â‚Ś1,570.00 Volume: 276.242 million shares Value: N6.890 billion Deals: 5,327 As at yesterday 02/05/18 See details on Page 41
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How Plastic Litter Threaten Our Environment, Marine Animals With globalisation bringing about the exchange of products across countries, the need for packaging that is both durable and inexpensive has led to the exponential increase in the production of plastic materials in the last centuries. With over 300 million tons of plastics produced yearly and less than 10 per cent recycled, plastic pollution has become a topical issue across the world, primarily as it affects the water body. Lagos generates over 13,000 tons of municipal waste daily, with plastics accounting for twothirds of all recyclable material collected. A lack of infrastructure for the effective management of waste and improper disposal habits cause most plastic waste to end up in the Atlantic Ocean. UN figures show that 8 million tonnes of plastic – bottles, packaging and other waste – enter the ocean annually killing marine life and entering the human food chain. Visionscape Sanitation Solutions CEO, John Irvine, is tasked with leading
infrastructure development projects across emerging markets. As part of the group’s commitment to social impact investments, its business strategy is deeply rooted in building a sustainable business that does good. “We aggressively push our recycling initiatives and efforts throughout our operations, and as a group, we have made significant global investments in assets and infrastructure that convert those materials into renewable resources, from polymer manufacturing to waste-to-energy projects,� Irvine stated. The company began the construction of an engineered landfill and Eco Park in Epe, Lagos about 18 months ago. The Epe landfill lies on the northern bank of the Lagos lagoon. It was opened in 2009 to serve as a backup landfill for three other main state-run dumpsites that have since surpassed their capacities. The Eco Park, the first of its kind in West Africa, will feature several facilities including a
Plastic litter on Lagos shores materials recovery facility for processing several types of waste. The on-site materials recovery facility will integrate the informal waste miners (scavengers) into the system to continue with waste segregation activities under better working conditions. Visionscape operates a closed loop system, with subsidiaries in the UK, Northern Ireland, Belgium, and the Middle East.
Over the years, concerned international organisations and governments have proffered solutions, allocated budgets and devised strategies to combat the ocean pollution problem. Efforts have seemed like the proverbial drop in the ocean as more sea animals die and get washed onshore with plastic debris inside them. Most recently, the Commonwealth of Nations
adopted the Blue Charter, an ocean governance blueprint detailing the principles on how its member nations would contend with different factors that contribute to ocean pollution. A significant concern for the Commonwealth was providing the needed technical, research and resources assistance required by her member nations with emerging economies. In support of the charter, UK
Prime Minister Theresa May has pledged GBP 61.4 million. May said: “Let us begin by making this a more sustainable Commonwealth. That’s why, this week, I want us to agree a landmark Blue Charter which sets out the principles to sustainably protect our oceans.� Visionscape’s Irvine goes on to state: “These territories are the most affected oceans across the globe, and unfortunately with some of the least developed solutions to the pollution problems. With economic growth and increasing consumerism, the reliance on plastics remains high as packaged products get imported in droves.� Ocean plastic pollution is a global problem that requires localised solutions, especially in the countries bordered by oceans. The Blue Charter will include 16 principles and values, including environmental protection, good governance, justice and peace, human rights and gender equality, and recognition of the needs of vulnerable nations and young people.
MAKE RESTRUCTURING PRECONDITION FOR CHOICE OF CANDIDATES, ANYAOKU TELLS NIGERIANS occasions when I visited Baba, Dupe was the one who served drinks and refreshments. “When after the election I decided that I was going to bring people from parties other than PDP, on my own I decided to take Bola Ige and
Dupe Adelaja to represent AD in my government and Baba never talked to me about it and I never talked to him about it. “Dupe played her role — dutiful and diligent minister — and I have no regret for taking Dupe and Bola Ige as ministers
in the administration that set up the present democratic dispensation,� he said. Despite all their differences, Obasanjo said Adesanya deserved to be honoured. “My prayer is that the legacy of Pa Adesanya will continue to
influence the way things move in this country. People like him are not many; we need to create more Adesanyas,� he said. In his remarks, he also commended the children and families of the late Adesanya for organising the event.
Other dignitaries at the event included former Vice-President Atiku Abubakar; Yetunde Onanuga, deputy governor of Ogun State; Gbenga Daniel, former governor of Ogun State; and Peter Obi, former governor of Anambra State.
Others were: former Lagos State governor, Chief Lateef Jakande, Chief Ayo Adebanjo and Mr. Jimi Agbaje , APC chieftain, Bisi Akande, KOWA Party chieftain, Remi Sonaiya, and PDP chieftain, Bode George, among others.
our security,� he said.
said. Deputy Leader, Senator Bala Ibn Na’allah expressed surprise that the IG decided to shun the Senate for a second time, despite legislative powers, as contained in the Constitution, to summon any person. “There was a time we summoned this same IG, he approached the court that we do not have such powers. Unfortunately for him and fortunately for democracy, the court ruled that the Senate has the powers to summon him. So I am in shock that he did not come,� he said. Na’allah lamented that the conduct of some public office holders ran foul of the good intentions of the president. “We are going through trying times and the president needs to be assisted to do everything humanly possible to bring this country out of the present situation that it is in. “If we begin to have this kind of conduct, I would say it will affect our collective effort to assist Mr. President,� Na’Allah said. Presiding, Senate President Bukola Saraki said since the return to democracy in 1999, no IG has failed to honour the invitation of the National Assembly. He maintained that the Senate was not wrong to have invited the IG to brief them (Senators) on an incident involving a colleague and the incessant killings around the country. “No IG has ever refused to appear before the Senate since we started practising democracy. I don’t think that has happened before. We must know that these actions are dangerous to our democracy. “Again, we cannot say it is just to us, because the president told us that he told him to go to Benue, and the man refused to go to Benue and he is sitting there and is doing this. “There are powers we can exercise which are not in the interest of us making progress in this country. Since the beginning of the year, over 500 or 600 people have been killed. The man in charge of enforcing security, but
if he does not think that he needs to sit down to engage with us when then? There is something wrong somewhere,� he added. Saraki directed the delegation to report back to the senate in one week. The lawmakers had earlier held a closed-door session which lasted for one and half hours. THISDAY gathered that the IG’s attitude was the subject matter of the session. The senate yesterday also condemned the physical attack on Senator Matthew Uroghide (Edo PDP) at the Benin airport during the weekend. A group of thugs, allegedly sponsored by the All Progressives Congress (APC), had attacked the senator for his comments on the un-appropriated $496 million payment for 12 Super Tucano aircraft by the president. Uroghide last Thursday had urged the Senate to invoke Section 143 of the Constitution to commence the impeachment of President Muhammadu Buhari. Narrating his ordeal to his colleagues through a motion at plenary yesterday, Uroghide alleged that he was assaulted and harassed by the thugs in the presence of the Edo State governor, Mr. Godwin Obaseki. “One of the hoodlums lunged at me, hitting me behind the head and causing my hat to fall off to the ground,� he said, adding that he was saved by the Nigerian Air Force Commandant who guarded him out of the airport. “Dismayed that this incident occurred in response to the constitutional duties, which I was elected to perform, and which I did with grave responsibility and sincerity of purpose. “Worried further that if this barbaric act is not discouraged decisively and emphatically, it could be repeated and become the norm rather than the exception, and have the propensity to lead to chaos, anarchy and eventually loss of lives,� he added. Adopting the prayers of the motion, the Senate directed its Chairman on Police Affairs to liaise with the Edo State Police Commissioner to ensure that the attackers are apprehended.
MELAYE ARRAIGNED FOR ALLEGED SUICIDE ATTEMPT, GRANTED BAIL police and to brief it on the wave of killings in different parts of the country. In the First Information Report (FIR) filed before Magistrate Mabel Segun-Bello, the police stated: “That on the 24th of April 2018, about 1330hrs at Area I roundabout, Abuja, within the jurisdiction of the court that you, Senator Dino Melaye of the Federal Republic of Nigeria, while being conveyed in a police white Hilux bus with registration number NPF 3354D to Lokoja, Kogi State, to be arraigned in court for conspiracy and unlawful possession of prohibited firearms in charge number CMCL/14SC/2018 filed at the Chief Magistrate’s Court, Lokoja, you, Senator Dino Melaye, intentionally broke the side windscreen of the bus and jumped out of the bus after it was blocked by a Hilux vehicle with registration number Kaduna MKA603GY occupied by your younger brother Samuel Melaye and one Mr. Amefula David Emeka and driven by a yet-to-be identified person who escaped from the scene after the blockade. “You, Senator Dino Melaye, after breaking the side windscreen, attempted to kill yourself by jumping out of the bus and fell on the ground and thereafter started shouting that you want to kill yourself and implicate the police for your death. “That police officers who were escorting you in the bus tried to re-arrest you back to the bus but you resisted further arrest with the help of your brother Samuel Melaye and some lawyers in your company and further threatened to injure the police officers if they tried to further arrest you and you finally escaped from the scene in another Hilux vehicle.� In view of the allegations, the police stated that Melaye had committed an offence punishable under Sections 148, 153, 172, 173, 231 and 326 of the Penal Code Act. Having read out the charges, Melaye pleaded not guilty to them. The prosecution counsel, Alex Izinyon (SAN), subsequently
demanded dates for trial but Nkem Okoro, the counsel representing Melaye, persuaded the court to hear his application for bail. Okoro argued that since the crime for which the Senator was being accused of was not a capital offence, he was entitled to bail. Okoro relied on Section 162 of Administration of Criminal Justice Act, which sets out the conditions to be considered before a bail application is granted or refused. But the prosecution counsel told the court not to grant Melaye bail. Ruling on the bail application, Magistrate Segun-Bello said she had considered arguments for and against the application, and declared that under ACJA, “it is imperative to state that bail has been liberalised�. “Taking a look at the provision of Section 162 of ACJA, the prosecution counsel has not proven any reasonable apprehension that would warrant the court denying the defendant bail. “The prosecution counsel has placed nothing before the court to show why the defendant should not be granted bail. “There is no evidence tendered before this court to substantiate the prosecution counsel’s claim that the defendant will jump bail,� she noted. In addition, the court held that the police counsel could not convince it on how the defendant was likely to influence the prosecution witnesses in the cause of his trial if released on bail. Consequently, Magistrate Segun-Bello upheld the argument of Melaye’s lawyer and granted the defendant bail to the tune of N90 million with two sureties in like sums. The court ordered that one of the sureties must be a civil servant not lower than Grade Level 14, and one must have an easily identifiable residence in Abuja. The court further held that Melaye must deposit his international passport with the Federal Capital Territory Police
Command. In addition, the magistrate ordered that Melaye must report to the Wuse Police Command every working day of the week until same was altered by the court. In a statement after his arraignment, the police force spokesman, Jimoh Moshood said Melaye would still be arraigned in Lokoja for the alleged unlawful possession of prohibited firearms, among other offences. Moshood said Melaye’s arraignment yesterday was subsequent to his discharge from the National Hospital where he was confirmed fit for trial. He explained that the police investigation team rearrested Melaye at the Chief Magistrate’s Court in Abuja for the pending offences and was to be conveyed to Lokoja yesterday. Accordingly, plans were afoot yesterday by the police to beef up security in Lokoja today. Sources close to the police informed THISDAY in Lokoja that Melaye was rearrested because he had instigated the jailbreak in March at a police station in Lokoja, during which six suspects escaped, including the two that had implicated the senator. The suspects were later rounded up and rearrested by the police. One police source revealed that based on their investigations, some of the rearrested criminal suspects had disclosed that it was Melaye who allegedly instigated the jailbreak. The source further revealed that Melaye will be paraded at the Kogi State Police Command in Lokoja today alongside the criminal suspects in custody before he is charged to court. He disclosed that it was necessary that the police beef up security to avoid problems when the senator is brought to his home state where he has thousands of supporters. “We need to beef up our security to avoid protests. People would like to come and see him and also try to protect him. So, we don’t want to leave anything to chance, we have to beef up
IG Shuns Senate Meanwhile, for the second time in one week, the police IG yesterday shunned the summons by the Senate over the maltreatment of Melaye in the hands of the police, and to brief it on the rising wave of killings in different parts of the country. Owing to his failure to honour its invitation, the Senate raised a delegation to meet with the executive arm of government and report Idris’ penchant for shunning summons by the legislature, despite his critical role in national security. The delegation is to be led by the Majority Leader, Senator Ahmed Lawan and the Chairman of the Committee on Police Affairs, Senator Abu Ibrahim. Idris was initially summoned to appear before the Senate last Wednesday, following the ordeals of Melaye in the hands of the Special Anti-Robbery Squad (SARS). The Senate had also expressed concern over the unending killings in Benue, Taraba, Zamfara and other states. The IG, however, did not honour the summons, as he was away in Bauchi State for President Muhammadu Buhari’s state visit. Yesterday he was in Kaduna State to assess the security situation. His representative, Deputy Inspector-General of Police (Operations), Mr. Habila Josack was sent in his stead but was not entertained by the lawmakers, who insisted the police boss must appear himself. The Senate’s refusal to meet with Josack was the second time in one week also. Briefing his colleagues, the Chairman Senate Committee on Police Affairs said he has been unable to reach the IG. Ibrahim further disclosed that outside the letter of invitation sent to the IG by the clerk of the Senate, he, Ibrahim had also sent a message to Idris through the DIG last week. “Now I heard he is in Birnin Gwari (Kaduna State),� Ibrahim
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
GRABBING THE DEMOCRACY DIAMOND
Perhaps it would have paid better if political parties in Africa borrowed from the tradition of intensive dialogue with rural voters initiated by liberation movements, writes Okello Oculi
‘
’The revolution revolutionises the counter-revolution’’, so said Regis Debray. The brilliant bank robbery once witnessed in London forced the global police to invent new measures for fighting future bank robberies. The season of mass demonstrations which started with the one that overthrew the communist government in Ukraine; military dictatorships in Tunisia, Egypt; and are currently rocking Venezuela, Argentina and Nicaragua, may well trace their roots in liberation wars from China, Vietnam and Cuba to Mozambique and Angola.
Chairman Mao Zedung wrote about the guerrilla warfare he led from 1922 to victory in 1949. Che Guevara’s book titled ‘’REMINICENSES’’ told of strategies they used to win support from impoverished rural population. In Africa, an agricultural scientist, Amilcar Cabral, wrote about the vital need to conduct patient face-to-face dialogue with peasant farmers and urban poor to raise their awareness about the importance of joining the fight for a better future. The common element in their writings was the importance of respecting the human dignity and intelligence of those they talked to while following the iron rule of ‘’telling no lies and promising no easy victories’’. It is worth noting that leaders of successful liberation fights in Africa were persons whose professional jobs required listening to and talking with all people regardless of their social status. Samora Machel in Mozambique was a nurse. Agustinho Neto in Angola was a medical doctor. Robert Mugabe in Zimbabwe was a school teacher. Mandela and Oliver Tambo were trained as court room lawyers. Amilcar Cabral was an agronomist who locked minds with small scale farmers. They knew the futility of talking down at ordinary people; and of keeping a social distance from them. They were, after all, aware that failure to communicate with their client had fatal consequence in death from disease; failure of exams and death from illness. In Tanganyika, Julius Nyerere trained and worked as a school teacher. He was helped by a countrywide ‘’Maji-Maji War’’ as protest against horrendous forced labour by German colonial officials. This was followed by prolonged and winding skirmishes to defeat a German military commander who refused to surrender during the 1938-45 War. Both his army and those pursuing him looted, slaughtered and imposed carrying their weapons and supplies on local populations. The hellish war made suffering a brewer of nationalism across ethnic and religious differences. When Nyerere stood on top of lorries and mounds in local market, and preached about freedom and self-rule, he was planting into fertile local soils. It was little wonder that the political party he led, the Tanganyika African National Union (TANU) won all seats in parliament. Nobody voted for the MPs because they were ‘’elected unopposed’’ since no opposition candidates submitted nomination paper.
MOST POST-MILITARY POLITICAL PARTIES IN AFRICA RELY ON ‘’BIG SONS’’ MANIPULATING FEELINGS AROUND RELIGION AND ETHNICITY; BUYING VOTES, VIOLENCE, WRITING FRAUDULENT RESULTS, ETC. THESE ARE LAZY ROADS TO ‘FAKE DEMOCRACY’
In 1965, Nyerere appointed a Presidential Commission which recommended that a maximum of three members of TANU in each parliamentary constituency should contest among themselves. Private campaigns were not allowed. Appeals for votes by reference to religion, ethnicity, race; and offering financial and other consumer goods were not allowed. Party officials transported contestants to meetings with assembled voters. Candidate sold their personal merit in the presence of opponents. They answered questions from the audience. Election campaigns became classrooms for the education of the intelligence of communities and party leaders. The teacher in Nyerere was at play here. His deputy, Rashid Kawawa, had been employed by colonial officials as an actor in propaganda cinemas. While Nyerere had the easier task of only travelling on bumpy tracks on top of vans owned by local traders to reach local market days all over a vast territory, Neto and Cabral slept in bushes and trekked across hills while avoiding death from guns and bombs of colonial armies. While Patrice Lumumba (depicted in Aime Ceaser play as followed by Belgian police informers who passively recorded his speeches and noted the hysteria he aroused in crowds), Samora Machel trapped and routed a Portuguese army led by a celebrated general. It is plausible that political parties in Africa would have borrowed from the tradition of intensive political dialogue with rural voters developed by liberation movements. However, a pandemic of military coups and dictatorships, threw politicians into several decades of electoral unemployment. Military rulers are trained to issue commands to civilians; brutalise, kill or loot and destroy their homes and food supplies. In this gap came intelligence officers of NATO countries who documented and carefully analysed strategies of communication and political education by liberation movements for adoption and use in their post-Cold War diplomacy. The explosion of mass demonstrations mounted by ‘’pro-democracy groups’’ is telling. An early indication was Morgan Tsvangirai’s “Movement for Democracy’’ whose members adorned strikingly new uniforms in their protests against Mugabe’s government. In Tunisia’s ‘’Arab Spring’’ it felled a military dictator. Most post-military political parties in Africa rely on ‘’big sons’’ manipulating feelings around religion and ethnicity; buying votes, violence, writing fraudulent results, etc. These are lazy roads to ‘fake democracy’. It ignores the legacy of digging up ‘diamond democracies’ with hard work which liberation movements invested for arousing fighting grit out of poor and brutalised rural populations. As Nyerere had feared, unelected MPs are fraudulent ‘’representatives’’ who insult voters with their cynical corruption. It erodes ‘’soft power’’ of patriotic citizenship; undermines national security by brewing widespread frustration and violence; while making voters vulnerable to manipulation by hostile external interests.
SUNSET AT NOON
Turaki A. Hassan pays tribute to his friend and colleague, and spokesman of the Sokoto State government, Imam Imam Malam Imam Dalhatu Imam, my good friend, brother, schoolmate and colleague departed this world in the early hours of Friday, April 26, 2018, after a brief illness. I first met him in Kaduna Polytechnic. We came in the same year but he was a year ahead of me and we remained very close friends, such that it was said that we belonged to the same school of thought, even though I couldn’t fathom what that meant. We became even closer when he was elected president of Mass Communication Students’ Association (MACOSA) and fate had it that I was to succeed him in that position. Even at that level, I recall with nostalgia the matured role he played and support he gave me to emerge in that hotly contested election. It was his belief and conviction that as aspiring journalists then, we should bear the light by shedding primordial sentiments that were being pushed by some retrogressive elements. That was your philosophy and what you stood and fought for all through your short, impactful and eventful life. After graduating from school, we parted ways but kept in touch and fortunately, destiny brought us together when you were appointed the Special Adviser on Media and Public Affairs to the then Speaker of the House of Representatives, Rt. Hon. Aminu Waziri Tambuwal and our relationship continued to blossom within those four years. Again, as fate would have it, you moved over to Sokoto with our big brother and leader, Governor Aminu Tambuwal and
again, I succeeded you in the position you had held in the House of Representatives. Dalhatu, you were a friend that stayed closer than a brother. You were there for me through thick and thin. Whenever I encountered any challenge or difficulty in my work, you were the first point of call. You never hesitated to offer your counsel and suggestions which always helped. Our bond continued to wax strong and even extended to our families. You were with me during my wedding and I am eternally indebted and would forever remain grateful to you for the brotherly love, friendship and support you gave me both in cash and kind. Although all arrangements had been perfected, Imam chauffeured me and my wife to and from the church and also to the reception venue. He was all over the place as the chief event planner. Memories of you and your children when you brought them to my house for my daughter’s birthday are still fresh in our hearts. Ever smiling and hardly provoked to anger, you were a fine gentleman, humble, down to earth, never pretentious, hardworking and a visionary whose leadership qualities began to manifest very early in life. You were a leader, rare gem, and a family man who possessed a high sense of reasoning and sound judgment, a good and brilliant writer who, within short period, reached the peak of the journalism profession due to your prowess, humility and brilliance. Imam started his career in New Nigerian Newspapers Kaduna and excelled as sports
writer and editor. He would later move to THISDAY Newspaper where he rose from Zamfara State correspondent to Kaduna Bureau Chief and then, the Group Political Editor of the paper. People knew Imam as a journalist and PR professional but he was also an entrepreneur and an educationist who invested so much in providing quality and affordable education to children of the less privileged in the society, including scholarship for brilliant and indigent students. Imam was sponsoring not fewer than 20 children in universities, tertiary and secondary schools. As I entered the ICU along with others to remove Imam’s body for his final journey home, the grim reality of the mystery of life and death dawned on me. Just few hours back he was alive, we cracked jokes, talked and I left him but in a twinkle of an eye there he was lying lifeless. I was once again reminded that death is a necessary end and it comes when it will come. It has taken you away from us. We will greatly and sorely miss you but your two wives and four children and indeed, your beloved mother, brothers and sisters who were there with you at the hospital will miss you more. Gov Aminu Waziri Tambuwal will miss you. He has lost a trusted and worthy aide, because while you worked for him, you gave out your best and helped project him to the world, such that you became a reference point as far as image management in Nigeria is concerned. You led the way while others followed with your style of writing, innovative approach to issues and your exemplary
human relations. Of all his sterling qualities, Governor Tambuwal is known more for his courage but he couldn’t hold back his tears when he arrived the hospital to convey your body to your house. I saw him weeping for your loss and I pray God will comfort him. Your relationship with your boss was enviable. I recall you told me how Tambuwal stood by, protected and defended you, even against his political interest and under much pressure from people who saw you as an “alien� who had come from far away Taraba to occupy a very plum position in their state. Only God will reward Governor Tambuwal for what he did for Imam. I still cannot believe that you are gone! Myself and Mohammed Isa Funtua were with on Thursday evening, and a few hours before your death, myself and Yukubu Tulu went to visit you and we met your mom beside you. You had recovered but had to stay back to rest on doctors’ order. I remember you told us that you switched on your mobile phone to read news during your rest and someone in particular called twice but you couldn’t answer the call and then the person sent a text message in Hausa, saying, “Allah ya mana arziki mu rabu da wulakanci�, which means, “may God make us wealthy so that we won’t be humiliated�. May God forgive him. Now, your family, your children and wives are alone. I pray God gives us the heart to remember them, especially baby Aminu, who is barely two months old. Adieu, my brother and friend.
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T H I S D AY Ëž Ëœ ÍąËœ 2018
EDITORIAL NIGHTMARE IN LAGOS, PORT HARCOURT‌2 Government must pay more attention to the environment
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pparently due to poor funding, all the NESREA ofďŹ ces across the nation are in distress, just like the ofďŹ ces of the Federal Ministry of Environment in the states. For instance, the once beautiful lawns of these state ofďŹ ces are overgrown with weeds, and are crawling with all sorts of reptiles and rodents. There are allegations that the Abuja ofďŹ ce is conducting nationwide bazaar/auction of some equipment, generators and heavy duty vehicles (some have not been used since they were purchased for ďŹ eld work). These ofďŹ ces are without subvention, without electricity and cannot undertake even routine cleaning without taking collection from staff. We are not unmindful of the fact that the government is doing all that is necessary not to alarm residents of Lagos and Port Harcourt of the dire health problems they grapple with MOST AVAILABLE REPORTS on account of their ABOUT LAGOS AND PORT degraded environHARCOURT REVEAL THAT ment, particularly in BOTH NOISE AND WATER the unsafe air they POLLUTION ARE HIGH breathe. But at a WHILE THE QUALITY OF AIR period of emergency in Lagos and Rivers, IS VERY LOW it is regrettable that environmental protection in both states has not received adequate attention. Most available reports about Lagos and Port Harcourt reveal that both noise and water pollution are high while the quality of air is very low. The long-term health implications of this state of affairs for the residents of both states are dire. Meanwhile, it is the civic responsibility of the government to ensure clean water and air through safe environmental practices. The situation is compounded by the epileptic nature of the power sector, which necessitates the use of the generator in most homes. Yet carbon monoxide emitted from this power source has been established to be a silent killer and has accounted for the death of several people, including in some cases, the entire family. Until recently, Lagos had a very robust environmental management structure that was coordinated by the
Letters to the Editor
Ministry of the Environment. The ministry’s agencies, particularly the Lagos State Environmental Protection Agency (LASEPA) engaged in the enforcement of environmental laws. But, like its federal counterpart, the activities of the different agencies have shifted from environmental protection to that of revenue generation. The main preoccupation now is how to use waste collection activities to swell the states internally generated revenue.
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ith all the revenue generated, there is still no functional waste treatment plant in the state. Consequently, raw sewage is pumped into open drains and into the Lagoon. Underground water in the state is also polluted by waste water from homes and factories. The polluted water end up in homes through shallow bore holes that are in every neighbourhood. The Lagos Lagoon smells like sewer because of the solid and liquid waste it receives daily. Incidentally, ďŹ shes from the Lagoon are served on the diner tables of both the rich and the poor in the state. Unfortunately, the situation is worse in Port Harcourt, which has a dense population like Lagos but where the environmental protection agencies exist only in name. The government does not seem to recognise them as veritable institutions established to clean up the environment for the economic growth of the state. The state’s environment is adversely affected by the heavy-duty oil exploration and exploitation activities, as well as by vehicle fuels and electricity generators. A recent study of the air quality in Port Harcourt showed higher than normal levels of carbon monoxide, lead, particulates, nitrogen dioxide and sulphur dioxide. The study also revealed that prevalent diseases found as a result of air pollution were pertussis, pulmonary tuberculosis, cerebrospinal meningitis (CSM), pneumonia, measles, chronic bronchitis, and upper respiratory tract infection (URT). Given the foregoing, there is serious need for awareness creation, particularly on the importance of keeping the environment healthy so that it can protect lives. Humans and other living things need the environment to survive but the environment does not need humans to exist.
TO OUR READERS Letters in response to speciďŹ c publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.
TREND IN LAGOS’ROAD INFRASTRUCTURE DEVELOPMENT
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here is no disagreement among public policy experts about the importance of road construction in improving businesses’ ability to provide goods and services and people’s ability to access education, employment and services. Development of good and motorable roads enhance public safety and increase the road capacity to ease traffic congestion, vehicle maintenance and transportation cost leading to improved economy and higher standard of living. In view of recent commitments of the state government to road infrastructure upgrade, it is safe to affirm that Lagos State is on the fast track towards bridging its road infrastructural deficit. The state government investment priority on roads is outstanding, especially when consequential damage that arose from deplorable condition of roads in the state is really taken into account. Obviously, for Lagos State, 2018 is a year of continuous infrastructural development that will create a new Lagos that will be pride of Africa. No doubt, the state has done and still doing lots of right things that are generating excitement and expectations in different sectors of the state. Today, a first time visitor to Lagos may not appreciate the transformation that has taken place in the city and its satellite towns in the last three years as somebody who visited few years back. In fulfilling its promise to open up more inner roads across the state following the successful delivery of the 114 roads in September 2016, the state government has mobilised contractors with the sum of N5.563 billion being the 30 per cent payment to commence the construction
of the 181 roads across the 20 LGAs and 37 LCDAs. Between May 2017 and April 2018 a total of 55 road projects cumulating in 128.936 kilometres were completed. Lots of positive things have been happening across the state, and more still on the way. In particular, residents of Alimosho federal constituency, axis around where Ambode administration is building new economy are still in the euphoria of celebrating 21 networks of new roads and two bridges, totalling 27.4 km recently unveiled by the state government. The roads, which connect Lagos with Ogun State from Agbado Oke-Odo Local Council Development Area, were fitted with walkways, drainage system, laybys, service ducts, lane marking and street lights, among others. The projects are capable of making the constituency with the highest block votes in Nigeria economically viable and also livable. Now, residents can comfortably go to Badagry from the axis without necessarily passing through Iyana-Ipaja and Oshodi. First, Asiwaju Bola Tinubu administration started the vision of making Alimosho a place of pride with the construction of LASU-Iba Road while Governor Raji Fashola took it up to Ipaja. Currently, Governor Akinwunmi Ambode has now taken it from Ipaja to Ayobo, Command Secondary School, Gate, Abesan, Aboru Bridge and roads connecting over 60 communities together. The roads are surely veritable alternative routes to decongest traffic from the Lagos-Abeokuta Expressway, and could be used to access Ipaja up to Badagry without using the expressway.
Cheerfully, Governor Ambode has promised to continue developing the Alimosho axis with dredging of Ilo River, rehabilitation of Adekoya Road, Makinde Road, Suberu Oje, Old Ota and Ishefun-Ijan Roads which he said will be connected to a jetty through which people can take a boat ride to connect Lagos Marina in 20 minutes. Among others, Governor Ambode said that a modern Bus Terminal and Bus Rapid Transit (BRT) corridor would soon be constructed along the axis. Yet, these are just continuation of numerous roads constructed and commissioned under this administration. What will give any visitor coming into Lagos from the Ibadan end through the Ojodu-Berger end an inkling of the transformation that has taken place in Lagos is the new long pedestrian bridge which has changed the face of that area previously known for its filth, rowdiness and traffic gridlock. Berger Pedestrian Bridge which is well lit is an edifice befitting a megacity like Lagos. There are also the Ojota Pedestrian Bridge, the Ajah flyover, the Abule Egba flyover, the Aboru / Abesan Link Bridge which were all constructed and commissioned by the present administration in the state with the sole aim of upgrading infrastructure across the ‘Centre of Excellence’. From 114 road projects covering about 600 kilometres in all the 57 Local Governments and Local Council Development Areas of the state on record early last year, many in the state have lost count as road construction has remained an ongoing passion for the state government. Rasak Musbau, Lagos State Ministry of Information and Strategy, Alausa, Lagos
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T H I S D AY ˾ THURSDAY MAY 3, 2018
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T H I S D AY ˾ THURSDAY, MAY 3, 2018
POLITICS
Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 07054786260 SMS ONLY
PERSONALITY INTERVIEW
Ahmad: Buhari Has Bungled the Fight against Corruption peaker of the Kwara State House of Assembly, Dr Ali Ahmad has faulted the approach adopted by President Muhammadu Buhari in fighting corruption, saying the president should have known that he could not rely on the judiciary to rid Nigeria of corruption. He spoke with Hammed Shittu in Ilorin. Excerpts:
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mendment of the Electoral Act to reorder election sequence has continued to create disaffection in some quarters in the country, do you think the amendment is in order? Nigeria as a nation, we do not learn. I don’t know why we engage in politics. I know a lot of people engage in politics to better the lives of the people but in Nigeria, I think politics is an end in itself. We get into politics just to be in politics, perhaps to make money or to be visible. I don’t know why some people play politics because if you get into politics with an agenda to achieve something or to help your people, we wouldn’t be doing this thing that we are doing. A lot of people are frustrated about Nigeria. We are not losing hope. But it is like constant motion without movement. We were in this exact same situation in 2003. I wrote an opinion, which was unusual for a lawyer like myself but it was deliberate. In 2002, there was amendment in the then section 15 about reordering of the election sequence and timing. INEC went to court, that is the only difference. Now, it wasn’t INEC. INEC went to Federal High Court. Justice Okeke said National Assembly has the power. INEC appealed and National Assembly also cross appealed on some issues and the Court of Appeal said no, National Assembly did not have the power. So, there is a split. The best thing to do was to go to the Supreme Court so that we have a finality. It never happened. So, today, we are the same situation. A year before election, there is amendment, some busy bodies went to court. Another difference here is that in 2002, Justice Okeke waited until National Assembly finished with the passage of the bill before he took charge. Here, Justice Mohammed couldn’t wait; he was so much in a hurry that he did what he did. It was unprecedented. We have never seen it in any democracy in the whole wide world and not to talk of Nigeria. As I said, we have similar situation but what Justice Mohammed did has never been done. Lawyers would always come but judge would listen to any lawyer to decide or determine something that is still ongoing an embryo, which might even be still born anyway. So, you don’t kill an embryo before it is born. So, what Justice Mohammed did is condemnable judicially and everybody should condemn that order. I’m talking now so that nobody tells me that what I’m doing is prejudicial. I’m commenting on the order that he gave, and I have constitutional right as a lawyer and Nigerian to do that. So, that order that the National Assembly should stop midway is to me unjudicial, unjudicious, undiscretionarial and we shouldn’t allow it to stand because it will lay a precedent. Our decisions and resolutions as politicians do not have presidential value. In fact, it is the opposite. What you did today is not what you would do tomorrow as a politician. But as a judicial officer, what you did today is necessarily what you must do tomorrow. That is why everybody should condemn it so that in 2023 when there is another amendment to an electoral act, another judge would not come and rush. That precedent should never be allowed to stand really. Your reaction to the looters list released by the federal government? Well, I would say whoever is preparing that list is taking Nigeria for a ride. Apart from being one sided, if you ask them why it is one sided, you
last resort. The cases that would be judicially determined would be very few, and we have these mass cases resolved within one year and Nigeria moves forward, so that when the citizens abhor corruption and they know that you are really fighting corruption, they would be reporting it. And once they report, you have the evidence, you collect your money back, you name and shame him, he is convicted within one month and the president or governor does whatever he wants. We are just wasting our time with this one. I have said it since 2015 and I would continue to say it because it pains me. The best person that Nigeria has ever had since independence to fight corruption is Buhari but he bungled it and I can’t see him correcting it. President Muhammadu Buhari recently declared to seek for second term in office in 2019 even though many are of the view that he has not performed. Well, he (Buhari) has the constitutional right. I’m talking now as a lawyer. That would be my answer to it. Politically speaking. I’m not qualified to comment on that because now I’m a local politician. But I will always want our party to win. Those who are saying APC has not delivered, it is their own personal opinion. Ahmad
would see APC members there as those who are not in agreement with them. So, looters list is opposition list. Those who are opposed to the power brokers in the APC. There are those who have looted and whose investigation had been carried out and their names are not on the list. They take Nigerians for a ride. The people whose names are on the list are undergoing trial in law courts. What is the implication of this? It is prejudicial to mention the names of those who are still answering to the charges. Because those people can go to the judge and ask that those people should be summoned and come and answer why they have pronounced them guilty before the judge does his job. In preparing those lists, I think those ministers don’t have a lot of things to do. Should corruption attract capital punishment? You provide capital punishment as a deterrent and not as an exemplary punishment. Capital punishment should be reserved for those heinous crimes. If Nigerians believe that corruption, which will mean, financial crime has graduated and we need that to control that, so be it. It must be determined by the solution to that problem. But I don’t think we have taken necessary steps to provide death penalty. As we are today, I will
The best person that Nigeria has ever had since Independence to fight corruption is Buhari but he bungled it and I can’t see him correcting it
oppose it because you will kill wrong people. You prosecute the people you hate and protect the people you love. I will not support death sentence with that definition of corruption. How do you think corruption can be curbed in Nigeria? I have never spared a moment to tell. I delivered a lecture at NUJ Ibadan when this government is less than six months and I told them that you cannot fight corruption in Nigeria the way EFCC or Federal Government is fighting it. From day one, you know our court system is slow. Even with the administration of criminal justice, it has reduced it by 40 or 50 percent. But it is still slow. You have only four years. How can you place your number one priority on a platform that you know it is beyond your control? You cannot fight corruption judicially. What you can do is to sit down. Let Nigerians buy into this war on corruption. Let us name and shame corrupt people, strengthen these institutions that we have told you; the state assemblies, the National Assembly. So, you strengthen these institutions, get the buy-in of Nigerians, which is zero at the moment; nobody believes you are fighting corruption. When you place that priority on the door of judiciary and after three years you are telling me, we warned you. If we didn’t warn you, you should know that you cannot fight corruption in four years through the judiciary. There are alternative ways. Plea bargaining even in the ACJA is not being utilised. In US, plea bargaining is not part of their law but they are utilising it knowing that the criminal justice system is terribly slow. People even want to do plea bargaining, you said no. I have never seen this kind of country. Some judges are now even attacking EFCC. A Federal High Court threw out a case and said I’m not prosecuting any case from EFCC because you guys are not fighting corruption. If we have a government that wants to fight corruption today, it will have to sit down with Nigerians. Then how do we go about it, judiciary is the
Some Nigerians say the president is not strong enough to pilot the affairs of the country. As a citizen of Nigeria, how do you respond to that? As I said, I’m a local politician. I will bring it down to Kwara State, and that reflected in Kwara State when the Offa incident happened. We were all saddened. I received so many calls from everywhere and I even know that the Senate President cut short his visit to come the following day but the federal government that is in control of the security apparatus lost a lot of men including policemen even if civilian lives are not worth anything to them. I will score APC or whoever is at the federal government very low. If I’m in Kwara and this thing happened and the person that is in control of security didn’t do anything until 72 hours later, it is an afterthought. I’m disappointed. And if you asked me to go with whoever is in charge, I will think twice. It is unfortunate. The issue of autonomy for states’ houses of assembly remains the priority of the National Assembly. How far has that struggle gone? We are very happy this time. We have 24 houses of assembly. We had only two or three states voting against. And I’m sure those states are regretting now. We are sure Mr President would assent to that bill. We have assurances from members the federal executive and members of the kitchen cabinet that Mr President would sign it. When this thing happens, I think Nigerians should celebrate because we need to strengthen institutions. Once you strengthened the National Assembly, you strengthen the office of the Auditor General, EFCC would just be dealing with some issues. EFCC cannot even tackle what goes on in the federal alone. If you allow me 10 percent, EFCC is not going after federal civil servants who get involved in over 60 percent of corruption nationally. EFCC is not going to states where governors are governor generals. So, when houses of assembly become independent, when federal and state auditors general become independent and looking at state governors at a distance and do their report, they wouldn’t give it to him. Their report would go to the house of assembly. That is independent.
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T H I S D AY ˾ THURSDAY, MAY 3, 2018
POLITICS
Okoro: Imo’s Potential Remains Unharnessed Chidi Okoro, a businessman turned politician, says he has what it takes to unlock the inherent potential in Imo State. He spoke with Shola Oyeyipo who presents the excerpts:
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hy do you want to be governor of Imo State? Politics is very important. And I have made it clear, in the private sector, you can look at my background to see how I have done. I have worked across several industries; telecoms, food and beverages. I have become the Managing Director of a major PLC in Nigeria and I have also dealt in pharmaceutical as well. I have been the Managing Director of a major food company in Nigeria; a joint venture between Nigerians and South Africans. I have also been on the board of a state security trust fund. If you look at the way our state and Nigeria is going, I think that question can be refrained to why shouldn’t I be part of the process when it opens up? In 2013, I wrote a book: ‘Another Perspective’ and since I wrote that book I started work with a group of people; Imo Arise Network. We built that group. Over time we did major researches on Imo State. We checked on different sectors. We looked at the opportunities and challenges and we have been working together. This group is made up of over 300 members directly and another 5000 people indirectly. Over time, we have built an alternative reality for Imo State. And as the political space is opening up, members of the group think it is time for us to get directly involved and some of them have approached me to get involved so that we can play out that alternative reality that will lift Imo State up. I think the Imo people want to see competence and character. They want to see their lives get better. Imo presents fantastic opportunities. At the moment we are not harnessing the opportunities. We are thinking of how we can unlock the opportunities to make life better for our people. How do you intend to navigate the political terrain where some people have established solid structure? I think the Imo people want to see better life. I am a member of APGA party. Its a party that thinks about equity, justice and fairness. I think they will be looking for superior candidate that can lead them to victory. And also, the structure I have now are the people. When we share our blueprint at the right time, they will buy into it. And I think the Imo people are the best structure. The outgoing governor has vowed to return his son-in-law as the next governor and he is solidly on ground, do you think you have the arsenals to challenge him? Like I said, the power comes from the people who want a new perspective. They want a track record, they want competence, they want someone who can come and move their lives forward.When the time comes we will see if we have the right arsenals but we have superior blueprint. The challenge is about convincing the people, how do you go about that? For Imo State, the literacy level is about 89 percent. Its about the highest in Nigeria. They know exactly what they are looking for. If they hear what they want, they will shift. Imo people are ready for a turn around now and that is what we are bringing to the table. What are you really bringing on the table? It depends on the sector. First of all, we want to bring sustainable, inclusive and diversified development. We are going to look at different sectors. We are going to apply community healthcare strategy. Its cheaper and more accessible to the people. So, there are 27 local government areas. Can we make sure everyone would be within maximum of a kilometre to medicare facility? Imo has thousands of doctors outside Nigeria, can we launch something like a medical village so that the guys in diaspora
Okoro
can deliver medicare facilities without having to come in and put in tons of cash. The other one we can do through mass media. There are six elements that kill people in Imo State, which if you hear you will be shocked; malaria, lower respiratory track infection, hypertension, diarrhoea, that we can manage. What are your blueprints for poverty reduction and youth unemployment? Imo is in a very low place. Unemployment and underemployment is 34 percent. Youth unemployment is 58.8 percent. Every year we have 50, 000 people that are ready to work,
The man from Orlu is not wealthier than the man from Okigwe and Owerri zones. They are all looking for good life, good education for their children, good medicare; they are all going through the same pain
probably 15, 000 pick up jobs. So, we have 35, 000 over hands. Meaning that in another 10 years we would probably have 500, 000 people out of job. At the moment we have about 300, 000 people seeking jobs. These are facts that we have. So, we are going to have six industrial clusters for light manufacturing. We want to make Imo State a light manufacturing hub. Another chance Imo State has which no one talks about is that it ranks 6 - 7 in consumption of packaged goods in Nigeria. If we can consume it means if we can produce, we can sell. So the six light industrial hubs, what that does for us is that jobs spring up. Imo is known as hotel city. There are about 1200 hotel rooms. They are medium and low level hotel rooms. What if we transform from hotel city to conferencing city, hospitality and entertainment city? Add value and create thousands of jobs. We can invite private people to set up more educational institutions to create more jobs. And in agriculture, our strategy is farm to shelve. You produce stuff, package and put it in the store. We are also planning technical entrepreneurship; plumber, carpenter, electricians and all of these skill sets. The Imo Arise Group is planning that we will set up an institution that will spring up about 2000 minimum technical entrepreneurs and in that way we will have jobs. That if you do this that is the outcome. Yes we can! And like I said, Imo State is due for a turn around. Things are not right. Sometimes you will be disappointed that the people you are banking on simply collect money and vote for the highest bidders. Have you thought about that? When the time comes, we will be able to convince them. We will try to advance superior argument. We had a research done in
2015/2016 on Imo state, so we have absolute understanding not the language, of the issue and the opportunities that are available. I think if we speak your language and we show you how we move from point A to point B, I think the people are stronger than a few rich people. Is it true that there is no zoning in Imo state? Some parties have that but it is very important that we recognise what is called equity. I have nothing against party saying it is important that we give everybody a chance, which is not bad in itself. There is nothing bad in giving everybody a fair chance. Being from Okigwe zone which has only six councils against Orlu zone which has 12 and Owerri which has 9, isn’t the odd against you? The man from Orlu is not wealthier than the man from Okigwe and Owerri zones. They are all looking for good life, good education for their children, good medicare; they are all going through the same pain. They all want better life. I think the man from Orlu will see from our superior blueprint that it is going to be much better with us at the helm of affairs because we have his interest at heart. What is your assessment of the present governor? We are talking about Imo State which is bigger than the current governor or myself. So the first interest is Imo State. They want good leadership. It is not to rate anyone and we must give everyone his due because leading a state for seven years, it has taken enough strength and our party is about respect. It is not about attacking. We are not here to criticise anyone, we are here to look for opportunities to building a better state.
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THURSDAY, MAY 3, 2018 Ëž T H I S D AY
FEATURES
Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com
How Cough Syrup in Nigeria is Creating a Generation of Addicts
These bottles of cough syrup advertise their codeine content
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hen the younger brother of the BBC's Ruona Meyer became addicted to cough syrup, she began to investigate the men who make and sell opioid-based medicine on the streets of Lagos. Her investigation took her deep into Nigeria's criminal underworld, uncovering an epidemic that is destroying young lives across West Africa. "Where there are lots of school kids, as soon as they get a taste for it, they'll keep pestering you for more," says Junaid Hassan. When I heard him say these words I felt sick to my stomach. I had already witnessed what he described - young Nigerians hooked on cough syrup made with codeine, an opioid which can be addictive. A 14-year-old girl from my home city of Lagos, her parents distressed and unsure how to help her. A young man in Kano, chained to the floor of a rehab
centre, swarming with flies, driven mad by months of drinking syrup with his friends. My own brother has suffered from codeine cough syrup addiction. The strawberry tasting opioid hooked him after our father was killed. Grief, depression, a desire to be cool are just some of the reasons Nigerians are falling for this drug. Musicians sing about the high it gives you. Dealers peddle it in
Where there are lots of school kids, as soon as they get a taste for it, they'll keep pestering you for more
nightclubs and on the streets. Teenagers mix it with soft drinks, or swig it straight from the bottle at "syrup parties". Mr. Hussan, aka Baba Ibeji, works at Bioraj Pharmaceuticals, a licensed medical producer which manufactures a codeine cough syrup called Biolin. The company is a major supplier to northern Nigeria. He is one of a number of pharmaceutical company employees who the BBC have secretly filmed doing illegal cough syrup deals over the past few months. It is not illegal to drink or manufacture the medicine - but it is against the law to sell it to people without a doctor's prescription or those who don't have a pharmaceutical licence. "Even if someone wants to buy 1,000 cartons, we won't give them a receipt," Mr. Hassan told us, explaining how he avoids detection from authorities. Corruption like this is against Bioraj company policy, but is helping to fuel the industrial quantities of syrup leaking on to the black market.
When we informed Bioraj that we had evidence Mr. Hassan was engaging in this illicit activity, it responded with a statement saying the company only sells codeine cough syrup legitimately, that Mr. Hassan denies wrongdoing, and that company chairman Bioku Rahamon personally guards Biolin sales. Like all opioids, codeine is in the same chemical family as heroin. It's an effective painkiller, but is also capable of giving you a euphoric high if consumed in large quantities. It is highly addictive and, taken in excess, can have a devastating impact on the mind and body. In the Dorayi Rehabilitation Centre in Kano, I met a man said by staff to have been driven insane by the drug. He was shackled at the ankles and chained to the roots of a tree, screaming and thrashing his arms. Seventy-two hours earlier he had been out on the streets, breaking car windows in traffic.
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FEATURES "He's still going through his withdrawal issues now," said Sani Usaini, the officer in charge of the rehab centre. Codeine cough syrup – the scale of the problem Codeine is a pain killer but also an addictive opioid. Taken in excess, it can cause schizophrenia and organ failure Codeine syrup is commonly mixed with soft drinks and often consumed by students The codeine is imported, but the syrup is made in Nigeria by more than 20 pharmaceutical companies Nigeria's drug enforcement agency is fighting this epidemic. In a recent raid, it seized 24,000 bottles of codeine syrup from a single lorry in Katsina Codeine syrup addiction is a problem across Africa, with reports of addiction in Kenya, Ghana, Niger, and Chad In 2016, India banned multiple brands of codeine cough syrup following reports of addition In addition to kidney damage and seizures, serious abuse of codeine cough syrup can result in mental psychosis - delusions, hallucinations, and even schizophrenia. Many of the syrup addicts in the rehab centre can become so violent that staff chain them to the floor. "He can't be in a bed because he has broken the bed, he has broken the windows and hurt himself," Mr. Usaini told me, as I stood in front of another shackled young man. The air hung with a faint smell of faeces and the hum of flies. "Plenty of parents come here to cry." Pharmaceutical company employees who illegally sell syrup on to the black market know just how addictive codeine can be. Among them is Chukwunonye Madubuike, a business development executive with Emzor pharmaceuticals, which illegally sold us 60 bottles of codeine syrup in a hotel room deal in Lagos. "When somebody is addicted to something - you get me? - and he needs it, the price I don't think is an issue on this," he told us. "This is a product that I know that if I have one million cartons, I can sell it in a week." Emzor Pharmaceuticals told us that it is now investigating Mr. Madubuike, adding he has access to a very limited amount of Emzolyn with codeine and could not sell large quantities illegally. The company says it is a responsible and compliant business, is reviewing its distribution. ‘It crosses all class’ In Kano, northern Nigeria, the drug enforcement agency (NDLEA) regularly leads raids to seize and destroy codeine syrup destined for street sale. Officers showed us over two tonnes of syrup - Bioraj's Biolin with codeine - that had been seized by Swat teams. They also showed us weapons criminal drug gangs use to protect their business, including knives, swords, and even a chainsaw that had been used to attack an NDLEA officer. But the NDLEA in Kano, by its own admission, is struggling to cope with the sheer scale of the syrup epidemic. The Nigerian Senate estimates that as many as three million bottles of codeine syrup are drunk every single day in just two states, Kano and Jigawa. "We may not even arrest 10 per cent (of cough syrup on the market)," said Commander Hamza Umar of the NDLEA in Kano. "It crosses all class, no matter the level - rich and poor, educated and illiterate, a beggar and a toddler."
In the Dorayi Rehabilitation Centre in Kano, I met a man said by staff to have been driven insane by the drug. He was shackled at the ankles and chained to the roots of a tree, screaming and thrashing his arms
Cough syrup addicts are chained up to stop them hurting others - or themselves
Emzor says it is investigating Chukwunonye Madubuike (right)
Nigeria's drugs oďŹƒcers showed Ruona Meyers (right) this sword they seized from a drugs gang
Back in the rehab centre, Mr. Usaini measures the scale of the epidemic by the number of young syrup addicts who are brought into his care. He used to see perhaps two or three cases each week, but "now we see seven, eight, sometimes even 10 within a week‌ Any child that you see they're bringing here as a drug addict? It's codeine."
In a windowless room, still shaking after two months of withdrawal, we found one of those children - a 16-year-old girl in a pink hijab who told us that she used to get syrup from her boyfriend and drink it after school. She had a simple message for other young Nigerians tempted by the syrup craze: "I
would advise them not to go into it if they haven't already. If they do, it will ruin their lives." This is the first report from BBC Africa's new investigations unit, Africa Eye. Culled from BBC
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Quick Takes Lekki Shopping Festival Debuts in Lagos Ă’Ă? Ę¨ĂœĂ?Ăž Ă?Ă•Ă•Ă“ Ă?Ă’Ă™ĂšĂšĂ“Ă˜Ă‘ Ă?Ă?Ă?ÞÓà ËÖ ÞËÑÑĂ?ĂŽ ËŤ ÒÙÚĂ?Ă?Ă?Ăž Ă?Ă•Ă•Ă“ Í°ÍŽÍŻÍśËŹËœ ĂŽĂ?Ă?Ă“Ă‘Ă˜Ă?ĂŽ ÞÙ Ă?ÒÙåĂ?Ă‹Ă?Ă? Ă?Ă’Ă™ĂšĂšĂ“Ă˜Ă‘Ëœ Ă?Ă˜ĂžĂ?ĂœĂžĂ‹Ă“Ă˜Ă—Ă?Ă˜Ăž Ă‹Ă˜ĂŽ Ă?Ă&#x;Ă˜ Ă–Ă“Ă•Ă? Ă˜Ă?Ă Ă?Ăœ ĂŒĂ?Ă?Ă™ĂœĂ?Ëœ ĂĄĂ“Ă–Ă– ÒÙÖÎ Ă?ĂœĂ™Ă— Í°Íś Ě‹ Ͱ͡ ĂšĂœĂ“Ă– Í°ÍŽÍŻÍśËœ Ă“Ă˜ Ă?Ă•Ă•Ă“ Ă’Ă‹Ă?Ă? ÍŻËœ Ă‹Ă‘Ă™Ă?Ë› Ă’Ă? ÞåÙ̋ÎËã ĂšĂœĂ?Ă—Ă“Ă&#x;Ă— Ă?Ă’Ă™ĂšĂšĂ“Ă˜Ă‘ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă“Ă? Ă‹ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘Ă“Ă? ÚÖËÞĂ?Ă™ĂœĂ— Ă?Ă™Ăœ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ă?Ă? åÓÞÒ ĂšĂœĂ?Ă?Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă™Ăœ Ă?Ă?Ă?Ă•Ă“Ă˜Ă‘ ÞÙ Ă?Ă˜ĂžĂ?Ăœ Ă“Ă˜ĂžĂ™ ÞÒĂ? Ă?Ă•Ă•Ă“ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă? Ă—Ă‹ĂœĂ•Ă?Ăž ÞÙ Ă?ÒÙåĂ?Ă‹Ă?Ă? ÞÒĂ? Ă&#x;Ă˜Ă“Ă›Ă&#x;Ă?Ă˜Ă?Ă?Ă? Ă™Ă? ÞÒĂ?Ă“Ăœ ĂŒĂœĂ‹Ă˜ĂŽ Ă?Ă?Ă?Ă?Ă˜Ă?Ă?Ëœ ĂšĂœĂ™ĂŽĂ&#x;Ă?Ăž ÙʼĂ?ĂœĂ“Ă˜Ă‘Ëœ Ă?Ă&#x;ĂšĂ?ĂœĂ“Ă™Ăœ Ă?Ă?ĂœĂ Ă“Ă?Ă? Ă‹Ă˜ĂŽ ĂšĂœĂ“Ă?Ă? Ă‹ĂŽĂ Ă‹Ă˜ĂžĂ‹Ă‘Ă?Ë› Ă‹ĂœĂžĂ“Ă?Ă“ĂšĂ‹Ă˜ĂžĂ? Ă‹ĂœĂ? Ă?âÚĂ?Ă?ĂžĂ?ĂŽ ÞÙ Ę¨Ă˜ĂŽ Ă“Ă˜Ă?ĂœĂ?ĂŽĂ“ĂŒĂ–Ă? ĂŽĂ?Ă‹Ă–Ă? Ă™Ă˜ Ă?Ă‹Ă?Ă’Ă“Ă™Ă˜Ëœ ÑÙÖÎ Ă”Ă?ĂĄĂ?Ă–ĂœĂŁËœ ĂšĂ?ĂœĂ?Ă&#x;Ă—Ă?Ă? Ă‹Ăž ÞÒĂ? Ă?Ă’Ă™ĂšĂšĂ“Ă˜Ă‘ Ă?Ă?Ă?ÞÓà ËÖ ÞÒËÞ ĂĄĂ“Ă–Ă– ÙʼĂ?Ăœ Ă&#x;Ăš ÞÙ ;͎ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă˜ ÞÒĂ? Ă™ĂœĂ“Ă‘Ă“Ă˜Ă‹Ă– ĂšĂœĂ“Ă?Ă?Ă? Ă™Ă˜ ĂŒĂ™ĂžĂ’ Ă–Ă™Ă?Ă‹Ă– Ă‹Ă˜ĂŽ Ă“Ă˜ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– ĂŒĂœĂ‹Ă˜ĂŽĂ?Ë› ÒÙÚ Ă?Ă?Ăž Ă‹Ă–Ă?Ă™ ĂšĂœĂ™Ă Ă“ĂŽĂ?Ă? Ă‹ Ă Ă?ĂœĂ“ĂžĂ‹ĂŒĂ–Ă? ÚÖËÞĂ?Ă™ĂœĂ— Ă?Ă™Ăœ Ă?Ă&#x;Ă?ÞÙ×Ă?Ăœ Ă?Ă?Ă?ĂŽĂŒĂ‹Ă?Ă• Ă™Ă˜ Ă˜Ă?ĂĄ Ă‹Ă˜ĂŽ Ă?âÓĂ?ĂžĂ“Ă˜Ă‘ ĂšĂœĂ™ĂŽĂ&#x;Ă?Ăž Ă–Ă“Ă˜Ă?Ă?Ëž Ă‹Ă?ĂžĂ“Ă Ă‹ĂžĂ“Ă˜Ă‘ ĂŽĂ™ĂœĂ—Ă‹Ă˜Ăž Ă?Ă&#x;Ă?ÞÙ×Ă?Ăœ ĂŒĂ‹Ă?Ă? Ă‹Ă˜ĂŽ ĂœĂ?ĂĄĂ‹ĂœĂŽĂ“Ă˜Ă‘ Ă?Ă&#x;Ă?ÞÙ×Ă?Ăœ ÖÙãËÖÞã ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂšĂœĂ™Ă—Ă™ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ Ă‘Ă“Ă Ă?Ă‹ĂĄĂ‹ĂŁĂ?Ë› Ă˜ĂŽĂ?Ă?ĂŽËœ ÒÙÚ Ă?Ă?Ăž Ă“Ă? ĂŽĂ“ĂœĂ?Ă?Ăž ĂœĂ?Ă‹Ă?Ă’ Ă™Ă&#x;Ăž ÞÙ Ă˜Ă?ĂĄ Ă‹Ă˜ĂŽ Ă?âÓĂ?ĂžĂ“Ă˜Ă‘ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? Ă“Ă˜ Ă‹ Ă?Ă&#x;Ă˜ ʨÖÖĂ?ĂŽ ËÞ×ÙĂ?ÚÒĂ?ĂœĂ?Ë›
ICT FOR NATIONAL DEVELOPMENT
L-R: Deputy Vice Chancellor, University of Ilorin, Professor Bolaji Sule; President, Nigeria Computer Society (NCS), Professor Adeshola Aderounmu and Vice Chancellor of the university, Professor Sulyman Age Abdulkareem, during the ďŹ rst International Conference on ICT for National Development and Sustainability, organised by the university’s Faculty of Communication and Information Sciences, where Aderounmu delivered the keynote address...recently
Dell CEO: African Countries Must Embrace Digital Transformation Stories by Emma Okonji in Las Vegas, US Chairman and CEO of Dell Technologies, Michael Dell has called on African counties and the entire global communities to embrace digital transformation through the use of digital technology to drive business growth and economic sustainability. Dell, who made the call during his keynote address at the Dell Technologies World 2018 in Las Vegas, United States of America, said developed economies of the world have embraced technology to further drive their businesses and every nation must see it as a necessity
ECONOMY to grow its economy through the digital transformation that is currently sweeping across the world. According to Dell, “Digital transformation has enhanced businesses, and every business is looking for ways to deploy the best of technology solutions in every aspect of their operations to drive growth, new business partners, relationships as well as products and services. Technology is now top on the agenda for businesses globally because technology strategy is about business strategy, and every business must embrace it.�
At Dell Technologies, we innovate each day to enhance customer’s business. Today’s success story is different from the success stories of the past because technology has become the game changer. We need to use data, Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) in a way that will drive speed of business. Technology transformation is the way to go and data is the fuel that will drive global technology transformation. Data can become the most valuable asset, even more valuable than software applications, Dell said. He added: “It is estimated that by 2020, a million people
will generate 200 terabyte of data everyday and 99 per cent of the data will not come from people, but from devices and everything that has electronics, which underscores the importance of IoTs, AI and ML. “There is also need for adequate security to protect the data, hence the need for more storage facilities that Dell is currently championing globally. Smartphones and the new breed of PCs that Dell is producing, will further enhance data growth. Dell has become number one in server and storage devices that are currently driving data. Our PC Continued on page 24
NCS Tasks FG on Economic Growth, Sustainability The President of the Nigeria Computer Society (NCS), Prof. Adesola Aderounmu has called on the federal government to use technology to raise modern manpower that could sustainably drive the nation’s economy. Aderounmu gave the advice recently, in a keynote address at the first International Conference on ICT for National Development and Sustainability, organised by the Faculty of Communication and Information Sciences, University of Ilorin, to mark its 10th anniversary. The advice came as the World Bank President, Dr. Jim Yong Kim said that Nigeria and other economies in Africa are not showing enough commitment
ECONOMY to compete in a digital world. Kim made the observation at the just concluded World Bank/ International Monetary Fund (IMF) Spring Meetings in Washington, DC, United States, In his lecture, titled “Leveraging ICT for National Development and its Sustainability�, Aderounmu who doubles as the Head of Department, Obafemi Awolowo University (OAU), raised the concern that the country’s economy has not fully embraced technology as its driving force. He said nearly 90 per cent of technologies used in Nigeria are imported despite the huge knowledge infrastructure of 162
legally recognised universities, 125 polytechnics and more than 500 government agencies. The NCS President said, “It is sad that after 57 years of independence, Nigeria has failed to come up with neither a globally recognised company nor product originating from Nigerian indigenous technology because the national economy has not been technology-driven.� Aderounmu called on the federal government to develop the Information and Communications Technology (ICT) industry through research centres, technology parks and incubators, provision of reliable and affordable infrastructure and provision of fiscal incentives for
indigenous software developers. He further suggested that the government could develop the sector through the creation of a special fund to assist start-up businesses as well as grow existing developers, enactment of a law that mandates government Ministries, Departments and Agencies (MDAs) to patronise indigenous software while mandating the immediate implementation of the approved scheme of service for Information Technology (IT) professionals. While recommending that priority should be given to registered IT professionals in the award of IT contracts in the Continued on page 24
StarTimes APP Delivers Free Service Ă‹ĂŁ Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁËœ ĂžĂ‹Ăœ Ă“Ă—Ă?Ă? Ă’Ă‹Ă? Ă?Ă‹Ă“ĂŽ ÞÒËÞ Ă“ĂžĂ? Ă—Ă™ĂŒĂ“Ă–Ă? ËÚÚÖÓĂ?Ă‹ĂžĂ“Ă™Ă˜ ĂĄĂ‹Ă? Ă‹ Ă?Ă™Ă&#x;ĂœĂ?Ă? Ă?Ă™Ăœ ĂœĂ“Ă?Ă’ Ă?Ă™Ă˜ĂžĂ?Ă˜Ăž Ă™Ă˜ Ă˜Ă?ĂĄĂ?Ëœ Ă—Ă&#x;Ă?Ă“Ă?Ëœ Ă“Ă˜ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– ×Ùà ÓĂ?Ă?Ëœ Ă–Ă™Ă?Ă‹Ă– Ă?Ă™Ă˜ĂžĂ?Ă˜Ăž Ă‹Ă˜ĂŽ Ă?Ă˜ĂžĂ?ĂœĂžĂ‹Ă“Ă˜Ă—Ă?Ă˜Ăž Ă“Ă˜ Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ëœ ĂĄĂ’Ă“Ă–Ă? Ă™Ă˜ ÞÒĂ? ÑÙ˛ Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ÞÙ Ă“ĂžĂ? ĂœĂ‹Ă˜ĂŽ Ă‹Ă˜ĂŽ Ă‹ĂœĂ•Ă?ĂžĂ“Ă˜Ă‘ Ă“ĂœĂ?Ă?ĂžĂ™ĂœËœ Ă‹Ă?Ă“Ă— Ă–Ă?Ă‘ĂŒĂ?ĂŽĂ?Ëœ ËŤ Ă’Ă? ĂžĂ‹Ăœ Ă“Ă—Ă?Ă? Ă—Ă™ĂŒĂ“Ă–Ă? ËÚÚ Ă?Ù×Ă?Ă? ĂšĂœĂ?ÖÙËÎĂ?ĂŽ åÓÞÒ Ͳ͎ ĂœĂ?Ă? Ă?Ă’Ă‹Ă˜Ă˜Ă?Ă–Ă? ĂĄĂ’Ă“Ă?Ă’ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ? Ă?ĂšĂ™ĂœĂžĂ? Ă?Ă’Ă‹Ă˜Ă˜Ă?Ă–Ă?Ëœ Ă?Ă˜ĂžĂ?ĂœĂžĂ‹Ă“Ă˜Ă—Ă?Ă˜ĂžËœ ÙÖÖãåÙÙÎ Ă‹Ă˜ĂŽ ÙÖÖãåÙÙÎ ×Ùà ÓĂ?Ă?Ëœ Ă?Ă?ĂœĂ“Ă?Ă? Ă‹Ă˜ĂŽ ÖÙÞĂ? Ă—Ă™ĂœĂ? Ă‹Ă˜ĂŽ Ă“Ă? Ă‹Ă Ă‹Ă“Ă–Ă‹ĂŒĂ–Ă? Ă?Ă™Ăœ ĂŽĂ™ĂĄĂ˜Ă–Ă™Ă‹ĂŽ Ă“Ă˜ ÞÒĂ? Ă‹Ă˜ĂŽĂœĂ™Ă“ĂŽ Ă‹Ă˜ĂŽ Ă“ ËÚÚ Ă?ĂžĂ™ĂœĂ?˛ˏ Ă? Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ ÞÒËÞ ĂžĂ‹Ăœ Ă“Ă—Ă?Ă? Ă?Ă&#x;ĂŒĂ?Ă?ĂœĂ“ĂŒĂ?ĂœĂ? åÓÞÒ Ă‹Ă˜ Ă‹Ă?ÞÓà Ă? Ă?Ă&#x;ĂŒĂ?Ă?ĂœĂ“ĂšĂžĂ“Ă™Ă˜ Ă‹ĂœĂ? Ă‹ĂŒĂ–Ă? ÞÙ ĂœĂ?Ă‘Ă“Ă?ĂžĂ?Ăœ Ă‹Ă˜ĂŽ ĂĄĂ‹ĂžĂ?Ă’ Ă‹Ă–Ă– Ă?Ă’Ă‹Ă˜Ă˜Ă?Ă–Ă? Ă™Ă˜ ÞÒĂ? ËÚÚ Ă?ĂœĂ™Ă— ÞåÙ Ă—Ă™ĂŒĂ“Ă–Ă? ĂŽĂ?Ă Ă“Ă?Ă?Ă? ĂĄĂ’Ă“Ă–Ă? Ă˜Ă™Ă˜Ě‹Ă?Ă&#x;ĂŒĂ?Ă?ĂœĂ“ĂŒĂ?ĂœĂ? ĂĄĂ’Ă™ ĂŽĂ™ĂĄĂ˜Ă–Ă™Ă‹ĂŽ ÞÒĂ? ËÚÚ Ă?Ă‹Ă˜ Ă?Ă˜Ă”Ă™ĂŁ Ă‹Ă–Ă– ÞÒĂ? Ă?Ă’Ă‹Ă˜Ă˜Ă?Ă–Ă? Ă‹Ăž Ă˜Ă™ Ă?Ă™Ă?Ăž Ă&#x;Ă˜ĂžĂ“Ă– ͯͰÞÒ Ă™Ă? Ă&#x;Ă˜Ă?Ë› NB Plc Unveils Tiger Lager Beer Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ ĂœĂ?ĂĄĂ?ĂœĂ“Ă?Ă? Ă’Ă‹Ă? Ă—Ă‹ĂŽĂ? Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ Ă’Ă“Ă?ĂžĂ™ĂœĂŁ åÓÞÒ ÞÒĂ? Ă—Ă‹ĂœĂ•Ă?Ăž Ă?Ă˜ĂžĂœĂŁ Ă™Ă? ÞÒĂ? ͜ʹ ĂŁĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ Ă“Ă‘Ă?Ăœ Ă‹Ă‘Ă?Ăœ Ă?Ă?ĂœËœ ĂĄĂ’Ă“Ă?Ă’ ÞÒĂ? Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁ ĂšĂœĂ™Ă—Ă“Ă?Ă? ĂĄĂ™Ă&#x;Ă–ĂŽ Ă‘Ă“Ă Ă? Ă?Ă™Ă˜Ă?Ă&#x;Ă—Ă?ĂœĂ? Ă‹ Ă˜Ă?ĂĄ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă?Ë› ÞÒĂ?Ăœ ĂšĂœĂ™ĂŽĂ&#x;Ă?ĂžĂ? Ă™Ă˜ ÞÒĂ? Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁËŞĂ? Ă?ĂžĂ‹ĂŒĂ–Ă? Ă‹ĂœĂ?Ëž ĂžĂ‹Ăœ Ă‹Ă‘Ă?ĂœËœ Ă?Ă“Ă˜Ă?Ă•Ă?Ă˜Ëœ Ă‹Ă–ĂžĂ“Ă˜Ă‹Ëœ Ă&#x;Ă–ĂŽĂ?Ăœ Ă‹Ă˜ĂŽ ÙÞÒĂ?ĂœĂ?Ë› ÓÞÒ Ă‹ Ă–Ă‹Ă&#x;Ă˜Ă?Ă’ Ă?Ă‹Ă—ĂšĂ‹Ă“Ă‘Ă˜ ÞËÑÑĂ?ĂŽ Í Ă˜Ă?Ă‹Ă‘Ă? ĚŽ ÞÒĂ? Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă? ÞÙ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă? Ă?Ă™Ă˜Ă Ă?Ă˜ĂžĂ“Ă™Ă˜ ĚŽ ÞÒĂ? Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁ Ă?ÒÙåĂ?Ă‹Ă?Ă?Ă? ÞÒĂ? Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă?Ă™Ă&#x;Ă?Ëœ ĂŒĂ™Ă–ĂŽ Ă‹Ă˜ĂŽ ÑÙ̋ÑĂ?ĘľĂ“Ă˜Ă‘ Ă?Ă“ĂŽĂ? Ă™Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜Ă?Ëœ Ă?Ă˜Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă“Ă˜Ă‘ ĂšĂ?ÙÚÖĂ? Ă‹Ă?ĂœĂ™Ă?Ă? Ă‹Ă–Ă– ĂŽĂ“Ă Ă“ĂŽĂ?Ă? ÞÙ ËŠĂ&#x;Ă˜Ă?Ă‹Ă‘Ă?ËŞ Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă? Ă‹Ă˜ĂŽ ÞÒĂ? ÞÓÑĂ?Ăœ ĂĄĂ“ĂžĂ’Ă“Ă˜ ÞÒĂ?Ă— Ă“Ă˜ ĂšĂ&#x;ĂœĂ?Ă&#x;Ă“Ăž Ă™Ă? ÞÒĂ?Ă“Ăœ ĂŽĂœĂ?Ă‹Ă—Ă? Ă‹Ă˜ĂŽ ÚËĂ?Ă?Ă“Ă™Ă˜Ă?Ë› Ă? ĂšĂ‹ĂœĂž Ă™Ă? ÞÒĂ? Ă–Ă?Ă‹ĂŽĚ‹Ă&#x;Ăš ÞÙ ÞÒĂ? Ă–Ă‹Ă&#x;Ă˜Ă?Ă’Ëœ Ă‹ Ă˜Ă&#x;Ă—ĂŒĂ?Ăœ Ă™Ă? Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ?ĂŽ Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜Ă? ÞÙÙÕ ÞÙ Ă?Ă™Ă?Ă“Ă‹Ă– Ă—Ă?ĂŽĂ“Ă‹ ÞÙ ÞËÖÕ Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ?Ă“Ăœ Ă?Ă?Ă‹Ăœ Ă™Ă? Ă’Ă?Ă“Ă‘Ă’ĂžĂ? ĂĄĂ’Ă“Ă?Ă’ Ă?ĂŁĂ—ĂŒĂ™Ă–Ă“Ă?Ă‹Ă–Ă–ĂŁ ĂœĂ?ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ? ÙÞÒĂ?Ăœ Ă?ĂœĂ“ĂšĂšĂ–Ă“Ă˜Ă‘ ĂžĂœĂ&#x;Ă? Ă–Ă“Ă?Ă? Ă?ĂžĂ™ĂœĂ“Ă?Ă? Ă™Ă? Ă?Ă?Ă‹ĂœËœ Ă–Ă“Ă—Ă“ĂžĂ‹ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ ĂŽĂ™Ă&#x;ĂŒĂžË› Ù×Ă? Ă™Ă? ÞÒĂ?Ă?Ă? Ă?Ă?Ă–Ă?ĂŒĂœĂ“ĂžĂ“Ă?Ă? Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ?ĂŽ ÙÖÖãåÙÙÎ Ă?ĂžĂ‹ĂœËœ Ă?ĂŁĂ?Ă—Ă“ Ă•Ă‹Ă˜Ă–Ă‹ĂĄĂ™Ă˜Ëœ Ă?Ă™ĂœĂ—Ă?Ăœ Ă“Ă‘ ĂœĂ™ĂžĂ’Ă?Ăœ ËÓÔË Ă’Ă™Ă&#x;Ă?Ă?Ă—Ă‹ĂžĂ? Ă™Ă?Ă?Ëœ Ă•Ă“Ă˜Ă˜ĂŁ Ă“ĂœĂ– Ă“Ă˜ ĂœĂ‹Ă˜Ă?Ă“Ăž Ă‹Ă?ĂžĂœĂ?Ă?Ă? ĂŒĂ“Ă—ĂŒĂ™Ă–Ă‹ ĂœĂ‹Ă“Ă‘Ëœ Ă—Ă?ĂŽĂ“Ă‹ Ă‘Ă“ĂœĂ–Ă? Ă‹ĂœĂ“Ă‹ Ă•Ă‹Ă˜ĂœĂ?ĂŽĂ? Ă‹Ă˜ĂŽ Ă“Ă—Ă“ Ă˜Ă‹Ă–Ă‹Ă”Ă‹Ëœ Ă‹Ă—Ă™Ă˜Ă‘ ÙÞÒĂ?ĂœĂ?Ëœ ĂĄĂ’Ă™ Ă‹Ă–Ă– Ă?Ă’Ă‹ĂœĂ?ĂŽ Ă“Ă˜Ă?ĂšĂ“ĂœĂ“Ă˜Ă‘ Ă?ĂžĂ™ĂœĂ“Ă?Ă? Ă™Ă? ÒÙå ÞÒĂ?ĂŁ Ùà Ă?ĂœĂ?Ă‹Ă—Ă? Ă?Ă?Ă‹ĂœĂ? Ă‹Ă˜ĂŽ Ă&#x;Ă˜Ă?Ă‹Ă‘Ă?ĂŽ ÞÒĂ?Ă“Ăœ Ă“Ă˜Ă˜Ă?Ăœ ÞÓÑĂ?ĂœË›
New NIPR President for PRCAN Lecture Ă’Ă? Ă&#x;ĂŒĂ–Ă“Ă? Ă?Ă–Ă‹ĂžĂ“Ă™Ă˜Ă? Ă™Ă˜Ă?Ă&#x;Ă–ĂžĂ‹Ă˜ĂžĂ? Ă?Ă?Ă™Ă?Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹ Ě™ Ěš Ă’Ă‹Ă? Ă‹Ă˜Ă˜Ă™Ă&#x;Ă˜Ă?Ă?ĂŽ ÞÒËÞ ÞÒĂ? Ă˜Ă?ĂĄĂ–ĂŁĚ‹Ă?Ă–Ă?Ă?ĂžĂ?ĂŽ ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ă‹Ă˜ĂŽ Ă’Ă‹Ă“ĂœĂ—Ă‹Ă˜ Ă™Ă? Ă™Ă&#x;Ă˜Ă?Ă“Ă– Ă™Ă? ÞÒĂ? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă˜Ă?ÞÓÞĂ&#x;ĂžĂ? Ă™Ă? Ă&#x;ĂŒĂ–Ă“Ă? Ă?Ă–Ă‹ĂžĂ“Ă™Ă˜Ă? Ě™ ĚšËœ Ă‹Ă–Ă–Ă‹Ă— Ă&#x;Ă•Ă’ĂžĂ‹Ăœ Ă&#x;ĂŒĂ‹Ă“ĂœĂ&#x; Ă“ĂœĂ‹Ă”Ă™Ëœ ĂĄĂ“Ă–Ă– ĂŒĂ? ÞÒĂ? Ă’Ă‹Ă“ĂœĂ—Ă‹Ă˜ Ă‹Ăž Ă“ĂžĂ? Ă?Ă™ĂœĂžĂ’Ě‹Ă?Ă™Ă—Ă“Ă˜Ă‘ ÙÖÎ Ă?ĂŽĂ‹Ă– Ă?Ă?ĂžĂ&#x;ĂœĂ?Ë› Ă’Ă? Ă?Ă Ă?Ă˜Ăž Ă“Ă? Ă?Ă?Ăž ÞÙ ÒÙÖÎ ÞÒÓĂ? ĂœĂ“ĂŽĂ‹ĂŁ Ă“Ă˜ Ă‹Ă‘Ă™Ă?Ë› Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ÞÙ Ă‹ Ă?ÞËÞĂ?Ă—Ă?Ă˜Ăž Ă?Ă“Ă‘Ă˜Ă?ĂŽ ĂŒĂŁ ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜ĂžËœ Ă™Ă’Ă˜ Ă’Ă“Ă‘Ă&#x;Ă?Ă?Ă? ÞÒĂ? Ă?Ă™Ă&#x;Ă˜ĂŽĂ“Ă˜Ă‘ Ă?Ă‹Ă˜ Ă™Ă? ÞÒĂ? Ă?ÒÙÙÖ Ă™Ă? Ă?ĂŽĂ“Ă‹ Ă‹Ă˜ĂŽ Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? Ă‹Ăž ÞÒĂ? Ă‹Ă˜Ě‹ ĂžĂ–Ă‹Ă˜ĂžĂ“Ă? Ă˜Ă“Ă Ă?ĂœĂ?Ă“ĂžĂŁËœ Ă‹Ă‘Ă™Ă?Ëœ ĂœĂ™Ă?Ë› Ă—Ă?Ă ĂĄĂ™ Ă˜Ă?Ă?Ă–Ă— ÓËÕÙÖÙ ĂĄĂ“Ă–Ă– ĂŒĂ? ÞÒĂ? Ă‘Ă&#x;Ă?Ă?Ăž Ă?ĂšĂ?Ă‹Ă•Ă?Ăœ Ă‹Ăž ÞÒĂ? Ă?Ă Ă?Ă˜ĂžË› Ă? ĂĄĂ“Ă–Ă– Ă?ĂšĂ?Ă‹Ă• Ă™Ă˜ ËŤ Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ“Ă˜Ă‘ ĘĽĂ?Ă?ÞÓà Ă?Ă–ĂŁ Ă“Ă˜ ÞÒĂ? ĂœĂ‹ Ă™Ă? Ă‹Ă•Ă? Ă?ĂĄĂ?Ëœ Ă–ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă Ă? Ă‹Ă?ĂžĂ? Ă‹Ă˜ĂŽ Ă™Ă?Þ̋ ĂœĂ&#x;ÞÒ˛ˏ Ă’Ă? Ă?ÞËÞĂ?Ă—Ă?Ă˜Ăž Ă?Ă&#x;ĂœĂžĂ’Ă?Ăœ Ă?ÞËÞĂ?ĂŽ ÞÒËÞ Ă‹Ę°Ă?Ăœ ÞÒĂ? Ă–Ă?Ă?ĂžĂ&#x;ĂœĂ?Ëœ ÞÒĂ?ĂœĂ? ĂĄĂ“Ă–Ă– ĂŒĂ? Ă‹ ĂŽĂ“Ă?Ă?Ă&#x;Ă?Ă?Ă“Ă™Ă˜ ĂšĂ‹Ă˜Ă?Ă– ÞÙ ĂŒĂ? ×ÙÎĂ?ĂœĂ‹ĂžĂ?ĂŽ ĂŒĂŁ ĂœË› ĂœĂ‹Ă˜Ă• Ă“Ă‘ĂŒĂ™Ă‘Ă&#x;Ă˜Ëœ Ă&#x;ĂŒĂ–Ă“Ă?Ă’Ă?Ăœ Ă™Ă? Ă&#x;Ă?Ă“Ă˜Ă?Ă?Ă?ĂŽĂ‹ĂŁ Ă˜Ă?ĂĄĂ?ÚËÚĂ?ĂœË›
“Base stations are shut down by either local government or state government without any prior notice to service providers, which accounts for poor quality service�
President of ATCON, Olusola Teniola
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T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś
DELL CEO: AFRICAN COUNTRIES MUST EMBRACE DIGITAL TRANSFORMATION
Afreximbank: AfCFTA’s Success Depends on Traded Goods from Private Sector
business is growing, and in the last five years, billions of PCs were sold every quarter. “Dell will continue to support innovations that will drive IoT, AI, and ML, through our public and private cloud solutions that we offer for business growth. Today, Dell has over 7,000 customers connecting seamlessly across multi cloud channels,� Dell Technologies Chairman added. Chief Marketing Officer, Dell Technologies, Allison Dew said human and machine partnerships through AI, IoT and ML were creating lots of potential life-changing businesses for organisations. She said Dell would continue to use the human and machine partnership solutions to solve lots of business challenges across globe. According to her, a recent research survey conducted by Dell showed that 42 per cent of the global population does not know whether they can cope with digital transformation, 51 per cent is still struggling to keep up with the digital technology space, while 93 per cent is faced with the barriers of digital transformation. She however insisted that digital transformation must drive IT transformation, workplace transformation and security transformation in any organisation.
Emma Okonji with Agency Report
NCS TASKS FG ON ECONOMIC GROWTH, SUSTAINABILITY country, Aderounmu equally tasked the academia to promote productive collaborations and partnerships both internal and external and create learning opportunities for the students. “The system of mentoring, apprenticeship and tutelage, which existed in the past should be re-introduced and strengthened. Split-site arrangements should be encouraged to enable young researchers to be acquainted with new trends globally. Spend a considerable portion of the yearly budget on global promotion activities,� Aderounmu advised government.
The success of the African Continental Free Trade Area (AfCFTA) will rest significantly on the ability of the continent’s private sector to generate or create the goods that will enter the trade, the President of African Export-Import Bank (Afreximbank), Dr. Benedict Oramah has said. Addressing Egyptian business leaders at a breakfast organised in Cairo, Oramah said it would also depend on how the private sector in one market was able to identify and realise opportunities in other markets. He highlighted the need for the private sector to take advantage of the opportunities that the Af CFTA would offer, arguing that Egypt, with its relatively advanced industrial base, could serve as a viable manufacturing hub and major source of technologies for most of the continent. Its nearness to major markets in Africa also offered a tremendous opportunity for accessing the abundant raw materials and other intermediate goods from other African countries for further processing and export at competitive rates to other markets. “Afreximbank was working actively with the African Union Commission to ensure the realisation of the goals of the AfCFTA, he said, telling the business leaders that the Bank could “assist you with information, market intelligence and financing, which will en-
able you take advantage of the opportunities that are emerging as a result of the AfCFTA,� he said. According to the President, the AfCFTA has the potential to increase Egypt’s trade with the rest of Africa by at least five folds. He said over the last few years, Afreximbank had championed the growth of trade and investment flows between Egypt and the rest of Africa, providing about $5 billion in trade financing to Egyptian entities in the last three years and launching a $500-million Egypt-Africa Trade Promotion Programme in 2015, partly in
response to the strategic move by the Egyptian government to expand trade with Africa and promote regional integration under the Tripartite Free Trade Area. “The bank also, recently, signed a $500-million financing package with the Export Development Bank of Egypt for financing Egyptian exports into Africa,� he said. “Afreximbank had made it possible for an Egyptian exporter of heavy infrastructure equipment to compete effectively with global players in African markets, enabling it to export equipment worth hun-
dreds of millions of dollars to more than five African countries in the past three years,� Oramah added. “It had also supported Egyptian engineering firms to win construction contracts in Nigeria, Kenya, Togo and Angola, despite stiff competition from international players,� he further said. In his remarks, the Executive Vice President, Business Development and Corporate Banking at Afreximbank, Amr Kamel, discussed the role of Afreximbank in promoting African trade and talked about the programmes and facilities
which the bank had put in place to support African businesses engaged in trading activities. Managing Director, IntraAfrican Trade Initiative, Kanayo Awani, informed the business leaders about the Intra-African Trade Fair being organised by the bank in Cairo in December 2018. Awani, who announced that the trade fair would hold from 11 to 17 December, said it was being organised in collaboration with the African Union, and being hosted by the government of Egypt, to support the development of intra-African trade.
BEHOLD ATCON NEW EXCOS
L-R: 2nd Vice President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Muyiwa Ogungboye; 1st Vice President, Mr. Ikechukwu Nnamani and President, Mr. Olusola Teniola, during the ATCON AGM/NEC Elections 2018 held in Lagos...recently
Experts Call for Replication of Digital Rights Bill in African Countries Stories by Emma Okonji Digital rights experts have called for the replication of Nigeria’s Digital Rights and Freedom Bill by other African countries. The bill, which was recently passed by the National Assembly, was hailed by experts as a step in a good direction, adding it will strengthen digital rights on the continent. The experts made the call at the sixth Internet Freedom Forum, an international conference organised by Paradigm Initiative, in Abuja. Speaking at the event, Ephraim Kenyanito of Article 19 East Africa, said: “It will be
great if the Nigeria President could immediately sign the bill into law. This would be seen as a challenge to other African countries. It would be great for Nigeria to set a good example in this area.� Digital Rights Programme Manager at Paradigm Initiative, Adeboye Adegoke, said: “The Digital Rights and Freedom Bill, was drafted by a coalition of civil society, private sector and government to protect the digital rights of Nigerians in the emerging digital age. The bill is great for the protecting citizens’ rights and also great for the economy as it would energise
the tech industry.� Head of Legal Affairs, Microsoft Nigeria, John Edokpolo, called on the government to enact good laws in encouraging innovation and development in the tech industry. “If you want foreign direct investment in the technology industry, you need to have a good data privacy law, among other things. It helps when businesses can help government see the economic benefits of having positive legislation around digital rights. The job should not be left to the civil society alone,� Edokpolo said. The forum also provided an
opportunity to discuss the adversarial relationship between government and media in the digital age. Speaking at the session dedicated to the theme, Regional Director of Article 19 Eastern Africa, Henry Maina, said: “Nigeria remains one of the many African countries which still retain criminal libel laws, an unfortunate reality that simply erodes freedom.� Special Assistant to the Nigerian President on Digital Media, Tolu Ogunlesi, said: “An effective media ensures a free society and serves as a check on government. The media should, therefore, avoid engaging in only broadcasting
what different actors are saying but go beyond the press statements to finding out the truth. The media must do more to combat fake news and ensure truthfulness in their reports. While I would not campaign for government regulation of media space, I would argue for the media to be more accountable and self-regulate.� The Publisher of Premium Times, Dapo Olorunyomi, said the media was already accountable and it was the government that needed to improve transparency and be proactive in releasing information.
Firm Secures Seed Financing to Boost Food Supply Chain in Africa Group Business Editor
Ă’Ă“Ă•Ă‹ Ă—Ă‹Ă˜Ă¤Ă?Ě‹ ĂĄĂ‹Ă?Ă’Ă&#x;Ă•Ă&#x; AgriBusiness/Industry Editor
Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor
Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Capital Market Editor
ÙÎÎã Ă‘Ă?Ă˜Ă? Senior Correspondent
Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents
Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) ÔÓÙĂ?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Nation’s Capital) ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ (Money Mkt) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ (Energy) Reporters
Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (Cap Mkt)
Easyshop Easycook, a Nigeria-based online fresh food processor and grocer, targeting working professionals and small and medium enterprises (SMEs), has announced its seed financing led by EchoVC Pan-Africa Fund. Easyshop Easycook said it will put the funds towards optimising its online platform and existing farm-to-last-mile supply chain. The company offers a convenient grocery shopping experience by providing a multiplatform technology solution to suit both customers and partners by delivering fresh food sourced from farms, non-perishables, office supplies and household items to homes, offices, schools,
hospitals, hotels and restaurants, among others, across Lagos. Food items can be easily prepared and customised to suit customer needs – some popular options include: grating, cutting, peeling, and grinding, among others. Announcing the seed financing, the Founder and CEO of the firm, Saudat Salami, said: “Our vision is to optimise the fresh food supply chain by empowering the various participants and delivering repeatable value. “Despite significant demand on the customer end, we realised that friction was causing massive amounts of waste and fraud in our food supply and it is incredibly important to us that
we offer a streamlined pipeline to local farming communities while providing them the opportunity to generate greater income by optimising and increasing the supply of quality food ingredients to business and retail customers.� Also, Senior Manager at EchoVC, Olaide Olusoji-Oke said: “We are incredibly excited to back Salami and her team. We have been tracking her progress over the last few years and have been consistently impressed by her ability to build trust across the entire supply chain. Her understanding of the business is unrivalled and her unique insights into behaviours in the offline market
exhibited by farmers, traders and consumers are invaluable. We believe she represents the type of elite entrepreneur we love to support.� Another manager at EchoVC, Fisayo Durojaye, said: “We are thrilled by the broad impact of Easyshop Easycook on families, businesses, farmers and food safety standards across Nigeria and very pleased to welcome Salami and the Easyshop Easycook team to the EchoVC portfolio.� Easyshop Easycook has become a leading high-impact initiative in food safety standards. According to data from local industry experts, more than 200,000 persons die annually of
food poisoning in Nigeria. These deaths were caused by foods contaminated through improper processing, preservation and service. By improving various elements of the supply chain, Easyshop Easycook is positioned to drive food safety solutions, which should also support Nigeria’s food export initiatives. EchoVC Partners is a seed and early-stage venture capital firm financing and cross-pollinating leading Africafocused technology companies. EchoVC brings a disruptive approach to investing at the technology-enabled intersection of consumer, media, data and devices in sub-Saharan Africa.
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T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś
BUSINESSWORLD
NEWS
Taxify Integrates SOS Button into Driver App, Ensures Safer Trips Stories by Emma Okonji Taxify, one of Nigeria’s fastest growing e-hailing platform, has included a new safety feature on its Driver App to ensure safer trips for the driver-partners. The new safety feature, the SOS button places a distress call to the Lagos State Emergency Response Agency when activated. The feature has been put in place especially for driverpartners who find themselves in dangerous, uncomfortable or violent situations. The integra-
tion of the SOS button comes on the back of Taxify’s plans to further utilise technology to keep driver’s safe on the roads. In a social media interview with female driver partner, Chinwe Adichie she said: “This safety addition is indeed a breath of fresh air, as this means I am now more confident to work at night because help is just a button away if I do find myself in a precarious situation.� “Being a woman on the job, it would be easier for robbers or kidnappers to want
to target myself or other female driver partners on the job. I applaud Taxify for this new development.� The introduction of the safety feature comes at a critical time for Taxify, where the competition in the ride-hailing space is stiff and players are heavily competing for both drivers and riders. According to Operations Manager, Uche Okafor, “Over the last few years we have led the way with technology-based safety features such GPS tracking of every trip and our two-way rating system.
Ericsson Media Solutions Unveils MediaFirst UHD Ericsson Media Solutions has announced the launch of its MediaFirst end-to-end Ultra High Definition (UHD) solution, the industry’s first software-based, multi-application media processing and encoding platform to deliver UHD content from camera to consumer, across the entire media delivery landscape. The new platform is making its global debut at NAB Show 2018 where the company is showing how it is transforming television by envisioning unique experiences that can be delivered everywhere for everyone through a set of evolved end-to-end media
solutions. Ericsson ConsumerLab TV and Media research highlights how TVs with higher picture quality are becoming more prevalent. Ownership of HD TVs has increased from around 75 per cent in 2012 to almost 85 per cent in 2017, while 4K/UHD TVs are now present in over a fifth of all homes. The MediaFirst end-to-end UHD solution addresses this growing need, enabling consumers to enjoy a better and more immersive viewing experience, even on larger TV sets. The new solution is designed from the ground
up to enable contribution workflows using Ericsson Media Solutions’ advanced technology, leveraging high performance algorithms for encoding UHD content to be delivered across contribution networks, further delivered to consumers for an immersive experience across rich client interfaces. With the freedom to use High Dynamic Range (HDR) technology for a more natural and immersive consumer experience, as well as a cloud-agnostic choice of private, public or hybrid clouds, the solution offers the ultimate flexibility for formats and deployment.
GrouptoPromoteCyberSecurityatNaijaSecCon’18 Confab Determined to build cybersecurity awareness within Nigeria and create a platform for knowledge sharing within the Nigerian cyber space, a team of information and cybersecurity professionals came together to begin #NaijaSecCon. The team has concluded arrangements to hold a cybersecurity conference where awareness on cybersecurity will be raised among Nigerians. The technical cybersecurity conference is aimed and not just identifying talents, but also bridging the gap between the
techies and the corporate. This year’s event (#NaijaSecCon2018), is slated for May 4th, 2018 in Gbagada, Lagos. According to the Lead Convener, Rotimi Akinyele, “NaijaSecCon is the first 100 per cent technical cybersecurity conference in Nigeria, complete with live technical demonstrations and hands-on workshops anchored by some of the best cyber security researchers in Nigeria and in diaspora.� The maiden edition, which was held in May 2017 and had
in attendance key C-Level stakeholders from all critical sectors within and outside the Nigerian information and cyber-security ecosystem, sharing technical knowledge and intelligence regarding cyber security threats. “This year, the conference highlights an array of speakers, topics and technical live demos from digital forensics, malwares, incident response, Open Source Intelligence (OSINT), enterprise vulnerability management, and Governance, Risk and Compliance (GRC),� he said.
Accenture Innovation Index 2018 Entry Opens In partnership with the Lagos Business School and select C-Suites from tier one companies, Accenture has announced the commencement of its Innovation Index 2018 Entries. Accenture applies best practice research approaches to provide a confidential customised innovation diagnostic report that identifies each participant’s innovation strengths and weaknesses, benchmarks their innovation within their industries, and presents strategies that may help them gain competitive advantage. According to Accenture Nigeria’s managing director in charge of Financial services, Toluleke Adenmosun, “The banking industry is evolving right now, requiring banks to navigate through significant challenges to not only main-
tain their profitability but to also increase their revenue and meet the customers dynamic demands. He said: “The topic of “Innovation� is a critical discussion among the Banking C-Suites right now, as Banks are being pushed to think about innovation in new ways that were unimaginable just a decade ago. We believe, the biggest challenge banking in Nigeria is facing is keeping up with the changes in digital technology, consumer expectations and governmental regulations. Accenture has received a significant number of requests from banks asking for greater insight and assistance on Innovation in the first few months of 2016. And with a rapidly evolving ecosystem, banks must make innovation a part of their culture and
rotate to the new.� “The Accenture Innovation Index 2018 will survey nearly 100 companies in banking and Fintech space, which will include interactions with the executives. This year’s index will focus on banking and the fintech industry that is driving an increasing number of solutions to customers in the financial services space. As companies in this space are pressured to innovative and create new products and services, their impact is shaping people’s lives and contributing to the improvement of living standards in the country. In subsequent editions other industries and their impact will be indexed to give an even broader view of the various industries strengths and the nation’s most advantageous attributes,� Adenmosun said.
CAPACITY DEVELOPMENT OLODU KEONYEDI
Savings: The First Step into Financial Freedom Saving is the ďŹ rst step to ďŹ nancial freedom.
Ă? ĂĄĂ? Ă?Ă’Ă?Ă?Ă• Ă?Ă‹ĂœĂ?Ă?Ă&#x;Ă–Ă–ĂŁ Ă‹Ăž Ă™Ă&#x;Ăœ Ę¨Ă˜Ă‹Ă˜Ă?Ă?Ă?Ëœ ĂĄĂ? will notice that a lot of money had passed through our hands but we still complain Ă™Ă? Ă–Ă‹Ă?Ă• Ă™Ă? Ă?Ă‹Ă?Ă’ Ă‹Ăž ÞÒĂ? Ă?Ă˜ĂŽË› Ă’Ă? ĂœĂ?Ă‹Ă?Ă™Ă˜ for these is that we spend all our income without saving anything. Let’s say your Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă“Ă˜Ă?Ù×Ă? Ă“Ă? ͒͑͑˜͑͑͑ Ă?Ă™ Ă“Ă˜ Ă‹ ĂŁĂ?Ă‹Ăœ ĂŁĂ™Ă&#x; ĂĄĂ™Ă&#x;Ă–ĂŽ Ă’Ă‹Ă Ă? ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂŽ ͒˜͓͑͑˜͑͑͑˞ ĂŁĂ™Ă&#x;Ăœ ability to save some portion of the total ĂŁĂ?Ă‹ĂœĂ–ĂŁ Ă“Ă˜Ă?Ù×Ă?Ëœ Ă?Ă‹ĂŁ ͔͑͑˜͑͑͑ ÞÒËÞ ĂŁĂ?Ă‹Ăœ Ă“Ă? the very ďŹ rst step you need to take to be ďŹ nancially free. Ă‹Ă Ă“Ă˜Ă‘ Ă“Ă? Ă“Ă˜Ă?Ù×Ă? Ă˜Ă™Ăž Ă?ĂšĂ?Ă˜ĂžËœ Ă™Ăœ ĂŽĂ?Ă?Ă?ĂœĂœĂ?ĂŽ consumption. Ă‹Ă˜ĂŁ ĂšĂ?ÙÚÖĂ? ĂŽĂ™ Ă˜Ă™Ăž Ă?Ă‹Ă Ă? ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? ÞÒĂ?ĂŁ ĂžĂ’Ă“Ă˜Ă• ÞÒËÞ ÞÒĂ?ĂŁ ĂŽĂ™Ă˜ËŞĂž Ă’Ă‹Ă Ă? Ă?Ă˜Ă™Ă&#x;Ă‘Ă’ Ă—Ă™Ă˜Ă?ĂŁËœ Ă™Ăœ ÞÒĂ?Ă“Ăœ Ă˜Ă?Ă?ĂŽĂ? Ă‹ĂœĂ? Ă—Ă&#x;Ă?Ă’Ëœ Ă?Ă™ Ă‹Ę°Ă?Ăœ Ă?Ă?ĘľĂ–Ă“Ă˜Ă‘ ÞÒĂ? ĂŒĂ“Ă–Ă–Ă? ÞÒĂ?ĂœĂ? Ă“Ă? Ă˜Ă™ĂžĂ’Ă“Ă˜Ă‘ Ă–Ă?Ę° ÞÙ Ă?Ă‹Ă Ă?Ë› Ă’Ă? Ă?Ă?Ă?ĂœĂ?Ăž Ă™Ă? Ă?Ă‹Ă Ă“Ă˜Ă‘ Ă“Ă? ÞÙ Ă?ĂšĂ?Ă˜ĂŽ ĂĄĂ’Ă‹Ăž Ă“Ă? Ă–Ă?Ę° Ă‹Ę°Ă?Ăœ Ă?Ă‹Ă Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă˜Ă™Ăž ÞÙ Ă?Ă‹Ă Ă? ĂĄĂ’Ă‹Ăž Ă“Ă? Ă–Ă?Ę° Ă‹Ę°Ă?Ăœ Ă?ĂšĂ?Ă˜ĂŽĂ“Ă˜Ă‘Ë› Ă˜ĂŽ Ă?Ă™Ăœ Ă?ĂžĂ‹ĂœĂžĂ?ĂœĂ? we recommend saving 10% of all your Ă“Ă˜Ă?Ù×Ă?Ëž Ă?Ă™ Ă“Ă? ĂŁĂ™Ă&#x;Ăœ Ă?Ă‹Ă–Ă‹ĂœĂŁ Ă“Ă? ͒͑͑˜͑͑͑˜ before spending any amount from that Ă?Ă‹Ă–Ă‹ĂœĂŁ ĂŁĂ™Ă&#x; Ă—Ă&#x;Ă?Ăž Ă?Ă‹Ă Ă? ͒͑˜͑͑͑ Ă?ĂœĂ™Ă— ÓÞ˛ Ă’Ă?Ă˜ ĂŁĂ™Ă&#x; Ă?Ă‹Ă˜ Ă?ĂšĂ?Ă˜ĂŽ ÞÒĂ? ĂœĂ?Ă—Ă‹Ă“Ă˜Ă“Ă˜Ă‘ ͚͑˜͑͑͑˛ If you are not saving with what you have ĂžĂ™ĂŽĂ‹ĂŁËœ Ă?Ă’Ă‹Ă˜Ă?Ă?Ă? Ă‹ĂœĂ? ĂŁĂ™Ă&#x; ĂĄĂ“Ă–Ă– Ă˜Ă™Ăž Ă?Ă‹Ă Ă? ĂĄĂ’Ă?Ă˜ you have more money. Firstly we must ĂœĂ?×Ùà Ă? ÞÒĂ? Ă?Ă?Ă‹ĂœĂ?ÓÞã Ă—Ă?Ă˜ĂžĂ‹Ă–Ă“ĂžĂŁËž Ă—Ă™Ă?Ăž people will never save because they think they do not have enough money to save. So they are consistently in the frame of Ă—Ă“Ă˜ĂŽ Ă™Ă? ˍÞÒĂ?ĂœĂ? Ă“Ă? Ă˜Ă™Ăž Ă?Ă˜Ă™Ă&#x;Ă‘Ă’ËŹË› Ă’Ă?ĂœĂ?Ă?Ă™ĂœĂ? Ă‹Ă? ÞÒĂ? Ă?Ă‹ĂŁĂ“Ă˜Ă‘ Ă‘Ă™Ă?Ă?Ëœ ËŤĂ“Ă? ÞÒĂ? ÞÒÙĂ&#x;Ă‘Ă’Ăž Ă™Ă? Ă–Ă‹Ă?Ă• has become a part of who you think you Ă‹ĂœĂ?Ëœ ĂŁĂ™Ă&#x; ĂĄĂ“Ă–Ă– Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă–Ă‹Ă?Ă• Ă‹Ă˜ĂŽ Ă‹Ă–Ă– ĂŁĂ™Ă&#x; will see is lackâ€?. If you actually believe ÞÙÎËã åÓÞÒ ĂĄĂ’Ă‹Ăž ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘Ëœ Ă“Ă? Ă˜Ă™Ăž Ă?Ă˜Ă™Ă&#x;Ă‘Ă’Ëž Ă“Ăž ĂĄĂ“Ă–Ă– Ă˜Ă?Ă Ă?Ăœ ĂŒĂ? Ă?Ă˜Ă™Ă&#x;Ă‘Ă’ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? you are focused on the wrong thing. Start today by changing your scarcity Ă—Ă?Ă˜ĂžĂ‹Ă–Ă“ĂžĂŁ ÞÙ Ă‹ĂŒĂ&#x;Ă˜ĂŽĂ‹Ă˜Ă?Ă? Ă—Ă?Ă˜ĂžĂ‹Ă–Ă“ĂžĂŁËœ ÞÒËÞ Ă“Ă? ÞÒĂ? Ę¨ĂœĂ?Ăž Ă?ĂžĂ?Ăš ÞÙ ÞËÕĂ?Ëœ Ă?ĂžĂ‹ĂœĂž ĂžĂ’Ă“Ă˜Ă•Ă“Ă˜Ă‘ about how to save a portion of every of your income. We save for three reasons: Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?Ă“Ă?Ă?Ëœ ĂŒĂ“Ă‘ ĂšĂ&#x;ĂœĂ?Ă’Ă‹Ă?Ă?Ă? Ă‹Ă˜ĂŽ ĂĄĂ?ËÖÞÒ ĂŒĂ&#x;Ă“Ă–ĂŽĂ“Ă˜Ă‘Ëž ĂĄĂ? ĂĄĂ“Ă–Ă– ĂŒĂ? ĂŽĂ“Ă?Ă?Ă&#x;Ă?Ă?Ă“Ă˜Ă‘ Ă‹ĂŒĂ™Ă&#x;Ăž Ă™Ă˜Ă? Ă™Ă? ÞÒĂ? ĂœĂ?Ă‹Ă?Ă™Ă˜Ă? Ă™Ă? Ă?Ă‹Ă Ă“Ă˜Ă‘Ëœ ĂĄĂ’Ă“Ă?Ă’ Ă“Ă? emergency fund.
Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă?âÚĂ?Ă˜Ă?Ă?Ă? Ă“Ă? ͒͑͑˜͑͑͑ ÞÒĂ?Ă˜ ĂŁĂ™Ă&#x; Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă’Ă‹Ă Ă? Ă‹Ăž Ă–Ă?Ă‹Ă?Ăž ͔͑͑˜͑͑͑ ÞÙ ͗͑͑˜͑͑͑ Ă“Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽ Ă‹Ă?Ă?Ă™Ă&#x;Ă˜ĂžË› Ă™Ă˜Ă?ĂŁ Ă—Ă‹ĂœĂ•Ă?Ăž Ă?Ă&#x;Ă˜ĂŽ Ă‹Ă?Ă?Ă™Ă&#x;Ă˜Ăž Ă“Ă? Ă‹ great place to save your emergency fund ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? ÞÒĂ?ĂŁ Ă‹ĂœĂ? Ă?Ă‹Ă?Ă?Ëœ Ă?Ă‹Ă?Ă“Ă–ĂŁ Ă‹Ă?Ă?Ă?Ă?Ă?Ă“ĂŒĂ–Ă? and also accrue interest.
Ăž Ă“Ă? Ă˜Ă™Ăž Ă‹ Ă?Ă&#x;ĂœĂšĂœĂ“Ă?Ă?Ëœ ÞÒËÞ Ă—Ă‹Ă”Ă™ĂœĂ“ĂžĂŁ Ă™Ă? Nigerians don’t have a rainy day fund that ĂĄĂ™Ă&#x;Ă–ĂŽ Ă?Ùà Ă?Ăœ Í” Ă—Ă™Ă˜ĂžĂ’Ă? Ă™Ă? ÞÒĂ?Ă“Ăœ Ă?âÚĂ?Ă˜Ă?Ă?Ă?Ë›
Ă˜ Ă?Ă‹Ă?ĂžËœ Ă—Ă‹Ă”Ă™ĂœĂ“ĂžĂŁ Ă™Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹ ÚÙÚĂ&#x;Ă–Ă‹ĂžĂ“Ă™Ă˜ would sell a valuable belonging or borrow Ă—Ă™Ă˜Ă?ĂŁ ÞÙ Ă?Ùà Ă?Ăœ Ă‹ ͒͑͑˜͑͑͑ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?âÚĂ?Ă˜Ă?Ă?Ë› Ă‹Ă Ă“Ă˜Ă‘ Ă‹Ă˜ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽ Ă?Ă™Ă&#x;Ă–ĂŽ let you get by without selling o your valuable assets or leaning on the generosity of a friend or relative. Being prepared with an emergency fund gives you conďŹ dence that you can tackle any Ă™Ă? Ă–Ă“Ă?Ă? Ă&#x;Ă˜Ă?âÚĂ?Ă?ĂžĂ?ĂŽ Ă?Ă Ă?Ă˜ĂžĂ? åÓÞÒÙĂ&#x;Ăž Ă‹ĂŽĂŽĂ“Ă˜Ă‘ money worries to your list.
Emergency funds: One of the fundamental tenets to good ďŹ nancial planning is preparing for the Ă?Ă&#x;ĂžĂ&#x;ĂœĂ?Ëœ Ă˜Ă™ Ă—Ă‹ĘľĂ?Ăœ ĂĄĂ’Ă‹Ăž Ă“Ăž ĂŒĂœĂ“Ă˜Ă‘Ă? ÞÙ ĂŁĂ™Ă&#x; and one of the ways to plan for the future is to have an emergency fund. Ă˜ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽ Ă“Ă? Ă‹ Ă?ÞËĂ?Ă’ Ă™Ă? Ă—Ă™Ă˜Ă?ĂŁ set aside to cover the ďŹ nancial surprises life throws at you. Ă’Ă?Ă?Ă? Ă&#x;Ă˜Ă?âÚĂ?Ă?ĂžĂ?ĂŽ Ă?Ă Ă?Ă˜ĂžĂ? Ă?Ă‹Ă˜ ĂŒĂ? stressful and costly. Some of the top emergencies people Ă?Ă‹Ă?Ă?Ă? Ă‹ĂœĂ? Ă”Ă™ĂŒ Ă–Ă™Ă?Ă?Ëœ Ă—Ă?ĂŽĂ“Ă?Ă‹Ă– Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?Ă“Ă?Ă?Ëœ Ă&#x;Ă˜ĂšĂ–Ă‹Ă˜Ă˜Ă?ĂŽ ĂžĂœĂ‹Ă Ă?Ă– Ă?âÚĂ?Ă˜Ă?Ă?Ă?Ë›
Ăž Ă“Ă? Ă‹ĂŽĂ Ă“Ă?Ă‹ĂŒĂ–Ă? ÞÙ Ă’Ă‹Ă Ă? Ă‹Ăž Ă–Ă?Ă‹Ă?Ăž Í” ÞÙ Í— Ă—Ă™Ă˜ĂžĂ’Ă? ĂĄĂ™ĂœĂžĂ’ Ă™Ă? ĂŁĂ™Ă&#x;Ăœ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă?âÚĂ?Ă˜Ă?Ă?Ă? in your emergency funds. Let’s say your
Use wasted money: some estimates indicate that each household wastes at least 10% of its income each month. So your duty is to ďŹ nd those leakage and Ă?ÞÙÚ ÞÒĂ?Ă—Ëœ Ă&#x;Ă?Ă? ÞÒĂ? Ă—Ă™Ă˜Ă?ĂŁ ÞÙ ĂŒĂ&#x;Ă“Ă–ĂŽ ĂŁĂ™Ă&#x;Ăœ emergency fund. Ă‹Ă•Ă? Ă“Ăž Ă‹Ă&#x;ÞÙ×ËÞÓĂ?Ë? Ă?Ă?Ă’Ă?ĂŽĂ&#x;Ă–Ă? ĂœĂ?Ă‘Ă&#x;Ă–Ă‹Ăœ payments from your salary account ÞÙ ĂŁĂ™Ă&#x;Ăœ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽËž ÞÒÓĂ? Ă?Ă‹Ă˜ ĂŒĂ? arranged with your bank that 10% of your salary is automatically transferred to your emergency fund account. By this way you don’t have to bother to do it yourself every month. Ă“Ă˜Ă‹Ă–Ă–ĂŁËœ Ă‹Ă˜ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽ Ă?Ă‹Ă˜ Ă—Ă?Ă‹Ă˜ the dierence between ďŹ nancial failure and ďŹ nancial success.
Some tips for eectively building your emergency fund: Break it down: the ďŹ rst thing to do in starting your emergency fund is to ĂŽĂ?ĂžĂ?ĂœĂ—Ă“Ă˜Ă? ĂŁĂ™Ă&#x;Ăœ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă?âÚĂ?Ă˜Ă?Ă?Ă?Ëœ ÞÒĂ?Ă˜ Ă—Ă&#x;ÖÞÓÚÖã ÞÒËÞ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă?âÚĂ?Ă˜Ă?Ă?Ă? ĂŒĂŁ Ă?Ă“Ă˘Ëœ Ă?Ă™Ăœ Ă?âË×ÚÖĂ? Ă“Ă? ĂŁĂ™Ă&#x;Ăœ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ Ă?âÚĂ?Ă˜Ă?Ă? Ă“Ă? ͒͑͑˜͑͑͑ ÞÒĂ?Ă˜ Ă—Ă&#x;ÖÞÓÚÖã Ă“Ăž ĂŒĂŁ Í—Ë› Ă’Ă?ĂœĂ?Ă?Ă™ĂœĂ? your estimated emergency fund should ĂŒĂ? ͗͑͑˜͑͑͑˛ Ă?âÞ Ă“Ă? ÞÙ ʨÑĂ&#x;ĂœĂ? Ă™Ă&#x;Ăž ÒÙå much you can put in your emergency Ă?Ă&#x;Ă˜ĂŽ Ă‹Ă?Ă?Ă™Ă&#x;Ă˜Ăž Ă™Ă˜ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ ĂŒĂ‹Ă?Ă?Ă?Ë› Ă’Ă?Ă˜ simply determine how long it will take to reach your target based on your monthly contribution. In order to determine the monthly contribution is to divide the estimated emergency fund by twelve. Ă‹ĂŁ ÞÒĂ? Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽ Ă“Ă? ͗͑͑˜͑͑͑˜ ÞÙ determine the monthly contribution will ĂŒĂ? ͗͑͑˜͑͑͑ ĂŽĂ“Ă Ă“ĂŽĂ?ĂŽ ĂŒĂŁ Í’Í“ ĂĄĂ’Ă“Ă?Ă’ ĂĄĂ“Ă–Ă– ĂŒĂ? ͖͑˜͑͑͑˛ Get supplemental income: most time salary alone may not be enough to cater Ă?Ă™Ăœ ÞÒĂ? Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă?Ă&#x;Ă˜ĂŽ Ă‹Ă?Ă?Ă™Ă&#x;Ă˜ĂžËœ Ă?Ă™ Ă“Ăž would be nice if the account could be funded through additional source of income or the sale of unused items like Ă‹ Ă?Ă?Ă?Ă™Ă˜ĂŽ Ă?Ă‹ĂœËœ Ă?Ă–Ă?Ă?ĂžĂœĂ™Ă˜Ă“Ă?Ă?Ëœ Ă?ĂžĂ? Ă?ĂœĂ™Ă— ĂŁĂ™Ă&#x;Ăœ house.
Olodu keonyedi – is a trained engineer and by passion and personal development a public/motivational speaker, a business coach and human capacity developer, he has a B.Eng degree in Civil Engineering from the University of Nigeria Nsukka, he is a member of Nigeria Society of Engineer and a COREN registered Engineer. Email: olodukeonyedi@gmail.com Tel: 08037489704, www.instagram.com/sir_keon. www.facebook.com/olodu keonyedi_mentorship
26
T H I S D AY Ëž ÍąËœ Í°ÍŽÍŻÍś
Ě“
Achieving Last Mile Connectivity with Glo2 Last week’s announcement by Globacom to build a second optic fibre submarine cable from Lagos to the southern part of Nigeria, will address the current gap in last mile connectivity for broadband penetration, writes Emma Okonji Nigeria has huge volume of broadband capacity at the shores of the country, around the Lagos axis, courtesy of the berthing of several submarine cables by Glo1, MainOne, MTN WACS, Sat3, among others. It is, however, shocking to know that less than 10 per cent of the total volume of broadband capacity in the country is currently being utilised. This situation has created a wide margin in last mile broadband connectivity as well as a sharp differential in the cost of bandwidth between cities close to the shores of the country and cities in the hinterlands. While cities like Lagos, Ibadan and Abeokuta that are close to the shores of the country where the submarine cables are berthed and enjoy relatively cheaper cost of broadband bandwidth and easy access to broadband connectivity, cities in the hinterlands like Benin-City, Enugu, Owerri, Calabar, Port Harcourt, Abuja, Kaduna and Kano, among others that are several miles away from the Lagos and suffer high cost differential in broadband connectivity and they could hardly have access to broadband. Telecoms experts, who understand the dynamics of broadband penetration, have blamed the situation on lack of national backbone infrastructure that will transmit broadband capacities from the shores of the country to the hinterlands, where demand for broadband is high.Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo had said unless there is national backbone infrastructure that would transmit broadband capacity from the shores of the country to the hinterlands, Nigeria would continue to suffer underutilisation of its broadband capacity, as well as high cost of internet access. But last week’s announcement by Globacom to commence the Glo2 Project, which has to do with the building of a second multi-billion naira optic fibre submarine cable from Lagos to southern part of Nigeria, otherwise known as the national backbone infrastructure, has continued to receive commendations from telecoms experts and industry stakeholders. They are of the view that the Glo2 Project, when completed, would bridge the gap in last mile connectivity and crash the cost of bandwidth and internet access in Nigeria. The Glo2 Project Globacom, last week, signed a landmark contract with Huawei Technologies to build a second multi-billion naira optic fibre submarine cable from Lagos to the Southern part of Nigeria. The new fibre optic submarine cable, known as Glo2, when completed, will have 12 Terabit capacity per second, spanning 850km, providing last-mile connectivity to businesses and oil companies in the Southern part of the country and beyond. Nigeria has several submarine cable berthed at the shores of the country, but none has the capacity to provide broadband connectivity service in the hinterlands where broadband service is in high demand. The situation has compelled telecoms subscribers to call for last-mile connectivity that could cushion the effect of the high cost of broadband bandwidth at the hinterlands as well as the price differential in bandwidth between Lagos and the hinterlands. The Glo 2 optic fibre submarine cable is expected to address the challenges when completed. The plan for the Glo 2 project was unveiled at a contract-signing ceremony between the national operator, Globacom, and global telecom solutions vendors, Huawei in Lagos. Giving details of the project, Globacom’s Regional Director, Technical, Mr. Sanjib Roy, said the submarine cable would be built along the Nigerian coast from Alpha Beach in Lagos, where Glo 1 landing station is located, to the southern part of Nigeria. The facility will enable ultra high capacity connection to South-south region and provide capacity to offshore oil platforms and the communities.
Submarine optic ďŹ bre cable He stated that the Glo 2 project would boost telecommunication service delivery in the country by providing economic as well as social empowerment of the communities in oil producing regions. It will also provide high speed internet connectivity as well as digitalise oil platforms to improve productivity, upload data to remote oil platforms at the speed of light. “Glo2 will be the first submarine cable in Nigeria to land outside Lagos as the five existing submarine cables only landed in Lagos. Glo 2 will have capacity of 12 Terabit per second and will provide ultra-high speed connection to oil platforms and communities to empower data coverage and support enterprise market growth in this part of Nigeria,â€? Roy said. The facility, he added, would be the first to provide dedicated sub-marine optical fiber to oil platforms to support the growth of Nigerian economy and allow oil communities to reduce their operational expenditure. “It is also designed for further expansion southwards to Cameroon, Equatorial Guinea, Gabon, Angola, among others,â€? he added. According to Roy, Glo2 would enable high capacity connections between oil companies’ offices onshore and their offshore locations. “The new submarine cable will be approximately 850 kilometres long and will be named Glo2. The cable will be integrated to Globacom’s existing terrestrial Backbone Network to provide additional service redundancy, especially Abuja and other parts of the country,â€? he said. He also disclosed that the cable would contain three fibre pairs, with the first pair connecting Lagos directly to southern part of Nigeria with terrestrial extension to other parts of the country for redundancy and maintenance purposes. The second will be equipped with eight switchable Branching Units (BUs), which will deliver high capacity to offshore oil stations and communities connected directly to BUs, while the third pair will be equipped with two switchable BUs to deliver high capacity to Cameroon and Equatorial Guinea. Glo2 complements the Glo 1 international submarine cable built by Globacom in 2010. It is the only international submarine cable in Nigeria managed end to end, from Lagos to London, by one company and currently provides sufficient bandwidth for the West Africa sub-region. The Benefits Managing Director of Huawei Nigeria, Mr. Li Beifang, said: “Huawei is proud to partner
Globacom to build a revolutionary submarine cable using innovative and leading technology. We believe the cable would bring a new era of digitalisation to the Nigerian economy.� Considering the disparity in cost of bandwidth and the need for Nigeria to have ubiquitous broadband penetration, industry stakeholders have hailed agreement between Globacom and Huawei Technologies to build the Glo2 optic fibre submarine cable, which they said would serve as the national backbone infrastructure that would make broadband capacity available in the hinterlands at a cheaper cost. Internet Service Providers (ISPs) are also excited about the coming of Glo2. Some of them, who spoke to THISDAY, expressed their excitement and confidence in the planned Glo2 Project. Chief Executive Officer, Swift Networks, Mr. Charles Anudu said the project would address the challenge in last mile connectivity in the hinterlands and also boost broadband availability and penetration in Nigeria. Broadband penetration In order to boost broadband penetration across the country, the federal government, in 2013, developed a-five year National Broadband Plan (2013-2018), with a mandate to achieve 30 per cent broadband penetration in the country, up from the 10 per cent penetration in 2012. Riding on the initiative of government to provide ubiquitous broadband access to all Nigerians, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), in 2016, rolled out eight-point agenda, built around broadband access and penetration. The plan to facilitate broadband penetration was listed as the first on the agenda. The strategy, according to Danbatta, is to facilitate and support availability of broadband services by promoting deployment of universally available, fast and reliable network infrastructure that will stimulate seamless broadband penetration to drive technology innovation and overall productivity of the economy. Since the commencement of the implementation of the agenda in 2016, mobile broadband penetration has jumped from 14 per cent to 22 per cent in 2018, and Danbatta is optimistic that the 30 per cent broadband penetration target would be achieved by the end of the year. Aside plan to achieve fast and reliable broadband connectivity, Danbatta said telecoms investment was on the increase and that fast rollout of broadband would further increase the investment. From a paltry $50 million investment in the sector in 2001, the investment figures
stood at $70 billion as at September, 2017. Value Added Services segment of the sector investment is over $200 million and estimated to reach $500 million by 2021. “The industry has provided direct and indirect employment to millions of Nigerians and over 150 million subscribers are connected to various networks with broadband penetration currently at 22 per cent according to the UNESCO/ITU Sustainable Development Goal (SDG),� Danbatta said. To further boost broadband penetration in the country, NCC has licensed four telecoms Infrastructure Companies (InfraCos), to provide broadband infrastructure that will further facilitate broadband rollout to every nook and cranny of the country. Berthing of submarine cables The berthing of submarine cables from Europe to Nigeria by most submarine cable operators in 2009 and 2010, elicited a lot of joy among Nigerians, based on the promises from the submarine cable operators that the cables would deepen broadband penetration and access at affordable price. Globacom for instance, berthed Glo 1 submarine cable in September 2009 at the Alfa Beach in Lagos. According to Globacom, the landing of Glo 1 was expected to mark the beginning of cheap bandwidth which in itself would translate into many possibilities in the Information and Communications Technology (ICT) sector. “The project jointly executed by Globacom and its partners, Alcatel Lucent, will give Nigeria lead in telemedicine, eCommerce and eGovernance among other practices that transform economies,� Globacom said. The telecoms company noted that the 9,800km cable, which came from Bude in United Kingdom (UK ) and connecting Nigeria to the rest of West Africa and the UK, with landing points in Nigeria, London and Lisbon in Portugal, would provide excess bandwidth to all the cities connected to the cable. “This will translate into much faster and more robust connectivity for voice, data and video,� Globacom promised. MainOne berthed its submarine cable in July 2010, stretching some 7,000 kilometers along the West African coastline, a submarine fiber-optic cable that is designed to help bridge the digital divide on the continent. Dubbed Main One Cable, the system links West Africa with Europe, bringing ultra-fast broadband in the region. It runs from Seixal in Portugal through Accra in Ghana to Lagos in Nigeria and branches out in Morocco, Canary Islands, Senegal, and Ivory Coast.
27
T H I S D AY ˾ THURSDAY MAY 3, 2018
SOURCES OF FOREIGN EXCHANGE AS AT 27TH APRIL 2018 S/N
CUSTOMERS
AMOUNT (US$)
PURPOSE
RATE DATE
S/N
CUSTOMERS
AMOUNT (US$)
PURPOSE
RATE DATE
S/N
CUSTOMERS
AMOUNT (US$)
PURPOSE
RATE DATE
1
ABDULKAREEM ARIBIDESI GANIYU
2,000.00 PTA
360.00 23-Apr-18
84
EZEAMAMA CHIZOBA CINELO
5,000.00 BTA
360.00 25-Apr-18
167
EMELE FELIX EMELE
3,000.00 PTA
360.00 26-Apr-18
2
AWONIYI FLORENCE EBUN
4,000.00 PTA
360.00 23-Apr-18
85
FAITH U ATERE
9,436.24 SCHOOL FEES
359.00 25-Apr-18
168
EMERENINI K UGOCHUKWU
2,000.00 PTA
359.00 26-Apr-18
3
CBN
228,200.77 UNUTILIZED IMTO
357.00 23-Apr-18
EMESI UZOAMAKA CALISTA
4,000.00 PTA
4
CBN
185,790.31 UNUTILIZED IMTO
357.00 23-Apr-18
87
FATOKUN ELIZABETH ADEOLA
5,000.00 BTA
360.00 25-Apr-18
170
EMMANUEL IKWUETO
3,800.00 PTA
360.00 26-Apr-18
5
CROWNSTAR COM. INV NIG. LTD
29,000.00 PAPER BOARD IN SHEETS
306.01 23-Apr-18
88
FLORA AKUDO AMADIEGWU
4,000.00 PTA
360.00 25-Apr-18
171
ENWE AZUBUIKE ODE
837.62 PTA
359.00 26-Apr-18
6
CROWNSTAR COM. INV NIG. LTD
100,000.00 PAPER BOARD IN SHEETS
306.10 23-Apr-18
89
GLENN LEBARI NIABARI
4,000.00 PTA
360.00 25-Apr-18
172
ETIM EDIDONG EMMANUEL
4,000.00 PTA
359.00 26-Apr-18
7
DENENU VICTORIA PHILOMENA
1,700.00 PTA
86
FAREAST MERCHANT CO LTD
50,124.20 VITAMILK BRAND PRODUCTS
360.00 23-Apr-18
90
GSK
242,500.67 HALFAN 250MG 6 'S (NIGERIA)
8
DUMBILI UDO DORIS
1,414.00 PTA
360.00 23-Apr-18
91
GSK
950,446.03 AMOXIL , AMPICLOX
9
ETUKUDOR NKEREUWEM MARIA
5,000.00 BTA
360.00 23-Apr-18
92
GSK
5,000.00 PERSONAL HOME REMITTANCE
360.50 25-Apr-18
169
360.50 25-Apr-18
36,212.00 ENGERIX ADULT PREFILLED SYRINGE
173
FAGBEMI O. OLUREMILEKUN
360.00 26-Apr-18
2,000.00 PTA
359.00 26-Apr-18
360.50 25-Apr-18
174
FRIDAY FAVOUR
4,000.00 PTA
360.00 26-Apr-18
360.50 25-Apr-18
175
HAASTRUP JACOB ADETAYO
4,000.00 PTA
359.00 26-Apr-18
10
HENDRIKS, FRANK
360.50 23-Apr-18
93
GSK
414,423.12 AUGMENTIN SYRUP & TABLETS
360.50 25-Apr-18
11
IATA
11,884,048.65 REMITTANCE OF TICKET SALES
360.00 23-Apr-18
94
GSK
277,442.10 AUGMENTIN TAB
360.50 25-Apr-18
177
IBRAHIM ATTAI ISAH
1,500.00 PTA
360.00 26-Apr-18
12
IATA
1,060,273.22 REMITTANCE OF TICKET SALES
360.00 23-Apr-18
95
GSK
573,836.00 AUGMENTIN TAB
360.50 25-Apr-18
178
IFIDI TOKONI
3,990.50 PTA
360.00 26-Apr-18
360.00 23-Apr-18
96
GSK
269,936.39 AUGMENTIN TAB
14
NWEKE IINOCENT UCHE
4,000.00 PTA
360.00 23-Apr-18
97
GSK
214,226.10 AUGMENTIN TAB
15
13
ODELOLA ADEOLA OLUWAYEMISI
5,000.00 BTA
360.00 23-Apr-18
98
GSK
16
IGE ARINOLA OLAYEMI
1,000.00 PTA
OK PLAST LIMITED
79,710.00 POLYPROPYLENE COPOLYMER
360.50 23-Apr-18
176
179
360.50 25-Apr-18
6,080.94 PALLET OF PHARMACEUTICAL GOODS
IATA
IGBONWELUNDU INNOCENT
180
IGOGO SIMEON
4,000.00 PTA
359.00 26-Apr-18
181
INEKWE MURUMBA
2,500.00 PTA
359.00 26-Apr-18
360.50 25-Apr-18
182
OKAFOR CHRISTIAN IFEANYI
5,000.00 BTA
360.00 23-Apr-18
100
GSK
7,191.51 PALLET OF PHARMACEUTICAL GOODS
360.50 25-Apr-18
183
MANUCHAR TRADING HOUSE INTL NIG
OKOYE OKWUDILI M
4,000.00 PTA
360.00 23-Apr-18
101
GSK
15,884.00 PALLET OF PHARMACEUTICAL GOODS
360.50 25-Apr-18
184
MR & MRS BONIFACE A. CHUKWUDI
GSK
70,396.43 PHARMACEUTICAL PRODUCTS
360.50 25-Apr-18
19
OLITE MANUFACTURING COMPANY LTD
470.00 MACHINERIES
360.50 23-Apr-18
359.00 26-Apr-18
2,000.00 PTA
360.50 26-Apr-18 359.00 26-Apr-18
4,000.00 PTA
359.00 26-Apr-18
OMILE CELESTINE I.
4,000.00 PTA
360.00 23-Apr-18
103
IKEOBI EBENEZER CHUKWUMA
4,506.45 SCHOOL FEES
359.00 25-Apr-18
186
NGOZI VIVIAN MBA
4,000.00 PTA
359.00 26-Apr-18
OMOIFO OSAIGBOVO VALENTINE
4,000.00 PTA
360.00 23-Apr-18
104
IKEOBI EBENEZER CHUKWUMA
4,533.62 SCHOOL FEES
359.00 25-Apr-18
187
NJIDEKA CHINELO MBONU
4,000.00 PTA
360.00 26-Apr-18
IKWUETO IFEDIORA EMMANUEL
3,800.00 PTA
360.00 25-Apr-18
22
ONUOHA OYIBOGALU CHRISTIANA OWOLANA OLUSOLA OLUWATOYIN PARDEE FOODS NIG. LIMITED
25
PEDRO FRANCES FOLAKE
26
5,000.00 BTA
360.00 23-Apr-18
4,000.00 BTA 165,004.00 HYDROGENATED VEGETABLE FAT 2,850.00 TRAVELLING FOR HOLIDAY
188
NUHU ALIYU BINTA
4,000.00 PTA
359.00 26-Apr-18
360.00 23-Apr-18
106
IYEREFA SAMUEL COOKEY-GAM
4,358.84 SCHOOL FEES
360.00 25-Apr-18
189
OBAJI NNAMDI CHUKU
2,280.00 PTA
360.00 26-Apr-18
360.50 23-Apr-18
107
JABARU IDIATU ATINUKE
5,000.00 BTA
360.00 25-Apr-18
190
OBI BENNY NNEKA
4,000.00 PTA
360.00 26-Apr-18
360.00 23-Apr-18
108
JOSEPH J AJATTA
7,671.13 SCHOOL FEES/ACCOMMODATION
360.00 25-Apr-18
191
OGBEBOR IMUWAHEN
2,800.00 PTA
359.00 26-Apr-18
863.38 PTA
360.00 23-Apr-18
27
ADEOYE SULAIMON ADENIYI
4,000.00 PTA
360.00 24-Apr-18
110
KAM INDUSTRIES NIGERIA LIMITED
5,600.00 MATERIAL FOR STEEL PLANT
306.10 25-Apr-18
193
OKE CHARLES OLUFEMI
4,000.00 PTA
359.00 26-Apr-18
28
ALAMUTU OLUWAKEMI GANIYAT
4,000.00 PTA
360.00 24-Apr-18
111
KUMUYI OLUSOLA CHRISTIANAH
2,500.00 PTA
360.00 25-Apr-18
194
OKEKE OBIORA GODSENT V
1,000.00 PTA
360.00 26-Apr-18
29
ANIGBOGU NZUBECHUKWU J
5,000.00 BTA
360.00 24-Apr-18
112
LAWSON-WOKOMA ADOKIYE
5,850.62 SCHOOL FEES
359.00 25-Apr-18
195
OLAWUYI OLAREWAJU O
4,000.00 PTA
360.00 26-Apr-18
30
QUADRI OLALEKAN ADEKUNLE
105
NDUBISI ONUBOGU
1,000.00 PTA 80,000.00 4000 MT SODIUM SULPHATE
20
23
185
JAMGBADI OLUKAYODE ADE
21
24
102
639,940.00 MENVEO VIAL + VIAL AU
360.00 26-Apr-18
360.50 25-Apr-18
17
GSK
4,000.00 PTA
360.00 26-Apr-18
360.50 25-Apr-18
18
99
1,100,951.23 REMITTANCE OF TICKET SALES
ATOYEBI OLUSEGUN MICHEAL
4,000.00 PTA
360.00 24-Apr-18
109
306.10 25-Apr-18
35,000.00 4000 MT SODIUM SULPHATE
192
360.50 25-Apr-18
196
OGINNI SUNDAY OLADIRAN
359.00 26-Apr-18
700.00 PTA
360.00 26-Apr-18
AWOLALU FOLUKE E
4,000.00 PTA
360.00 24-Apr-18
114
MUSTAPHA SEKINAT JUMMAI
4,000.00 PTA
360.00 25-Apr-18
197
OQUA DOROTHY AFFIONG
3,537.75 PTA
359.00 26-Apr-18
AYOGU CHKUWUEMEKA CALLISTUS
5,000.00 BTA
360.00 24-Apr-18
115
NWACHUKWU N NNOKA
9,000.00 SCHOOL FEES
360.00 25-Apr-18
198
ORUNMUTI IKEOLUWA BOSEDE
4,000.00 PTA
360.00 26-Apr-18
33
BASHAR HAUWA SAMBO
34
CBN
230,002.05 UNUTILIZED IMTO
357.00 24-Apr-18
117
OGBONNA ONWUMERE
5,794.57 SCHOOL FEES
360.00 25-Apr-18
200
PETER O ARIGBE
3,802.68 PTA
360.00 26-Apr-18
35
CBN
181,096.43 UNUTILIZED IMTO
357.00 24-Apr-18
118
OGEFERE HELEN OROBOGHAE
1,000.00 PTA
360.00 25-Apr-18
201
PONI BARIVURE
4,000.00 PTA
360.00 26-Apr-18
36
116
NWOLISA GRACE OLUNNA
4,000.00 PTA
199
OMELEH EDWARD
2,130.90 PTA
31
360.00 24-Apr-18
MANUCHAR TRADING HOUSE INTL NIG
94,400.00 SPARES FOR ROLLING MILL PLANT
32
5,000.00 BTA
113
KAM INDUSTRIES NIGERIA LIMITED
360.00 25-Apr-18
PELUOLA TEMITOPE
2,000.00 PTA
360.00 26-Apr-18
HARUNA SAMUEL
5,000.00 BTA
360.00 24-Apr-18
OLADIPO ABODUNWA, T. O.
3,692.79 SCHOOL FEES
359.00 25-Apr-18
202
POPOOLA IBITAYO SAMUEL
37
JOHN-EZEH VERO NKEDIYA
4,000.00 PTA
360.00 24-Apr-18
120
OLUFOLAHAN JOSEPH TOYIN
4,000.00 PTA
360.00 25-Apr-18
203
PURECHEM MANUFACTURING LTD
353,600.00 INDUSTRIAL RAW MATERIAL
360.50 26-Apr-18
38
KOLO ZAINAB HARUNA
4,000.00 PTA
359.00 24-Apr-18
121
OMOBUDE OSAS DESMOND
2,000.00 PTA
360.00 25-Apr-18
204
PURECHEM MANUFACTURING LTD
183,920.00 INDUSTRIAL RAW MATERIAL - VAM
360.50 26-Apr-18
MICAH NUMONDOGIO
39
119
2,700.00 PTA
360.00 24-Apr-18
40
NDOH BASIILA NGOZI
4,000.00 PTA
360.00 24-Apr-18
123
ORJI UCHE
41
NWABUOBI ONYEKACHI HAPPINESS
4,000.00 PTA
360.00 24-Apr-18
124
PASTOR DOMINIC EFANGA
42
NWIYI KENNETH CHINEDU
4,000.00 PTA
360.00 24-Apr-18
122
125
OPKOH JACOBS ABEL IHEUGLE
PETER, MALACHY BABANGIDA
43
OBIECHINA EMMANUEL
4,000.00 PTA
360.00 24-Apr-18
126
PROMASIDOR NIGERIA LIMITED
44
OBIECHINA HELEN
4,000.00 PTA
360.00 24-Apr-18
127
PURECHEM MANUFACTURING LTD
45
OGOEGBU CHILENYE
4,000.00 PTA
360.00 24-Apr-18
128
REV OLONADE FRANCIS O.
46
OGUINE CHINENYE
4,000.00 PTA
360.00 24-Apr-18
129
ROYAL SALT LTD
47
OKOH GIFT CHINENYE
5,000.00 BTA
360.00 24-Apr-18
359.00 25-Apr-18
205
SHAIBU HASSAN HUSSEINI
360.00 26-Apr-18
712.50 PTA
360.00 26-Apr-18
14,789.25 SCHOOL FEES
360.00 25-Apr-18
206
SOLOMON CLAPPERTON J.
1,400.00 PTA
360.00 26-Apr-18
1,300.00 SCHOOL FEES
359.00 25-Apr-18
207
STELLA NWAHIZU OBI
4,000.00 PTA
360.00 26-Apr-18 359.00 26-Apr-18
TINUBU MUNIRAT FOLASADE
4,000.00 PTA
360.50 25-Apr-18
209
UCHENDU OKWUDIRI ARTHUR
3,978.00 PTA
360.50 25-Apr-18
210
UKABAM NKECHI ANNA
5,000.00 BTA
360.00 26-Apr-18
3,000.00 PTA
360.00 25-Apr-18
211
UMOEKPO NSIKANABASI N
707.55 PTA
359.00 26-Apr-18
5,000.00 BEARINGS FOR INDUSTRIAL USE
360.50 25-Apr-18
212
UMOEKPO NSIKANABASI N
1,420.60 PTA
359.00 26-Apr-18
1,332.00 SCHOOL FEES
208
359.00 25-Apr-18
24,030.80 VITAMILK BRAND PRODUCTS 332,640.00 RAW MATERIAL - VAM
213
UNION BANK
359.00 26-Apr-18
737,900.00 INTERBANK
359.30 26-Apr-18
SOLOMON CLAPPERTON J
1,000.00 PTA
360.00 25-Apr-18
48
OKUNLOYE ROTIMI WILLIAM
1,500.00 PTA
360.00 24-Apr-18
131
SOLOMON CLAPPERTON J
1,350.00 PTA
360.00 25-Apr-18
214
USMAN HALILU
49
OMOBOLANLE SALAWAT
4,000.00 PTA
360.00 24-Apr-18
132
SONI UBOH ISIOMA VICTORIA
4,000.00 PTA
360.00 25-Apr-18
215
WASCO LIMITED
59,532.58 MSG FILM 10G 6 LANE
WASCO LIMITED
74,480.00 PLAIN ROLL OF LDPE
50
ONI CHELSEA OYINKANSOLA
4,000.00 PTA
359.00 24-Apr-18
130
4,000.00 PTA
1,425.00 PTA
216
360.00 26-Apr-18 360.50 26-Apr-18 360.50 26-Apr-18
UWAKWE FLORENCE UCHE
3,000.00 PTA
360.00 25-Apr-18
51
ONI YETUNDE OLUREMI
4,000.00 PTA
359.00 24-Apr-18
134
ZIWORITIN BEKEYEI ANNE
1,000.00 PTA
360.00 25-Apr-18
217
ABIODUN F OYELEYE
5,000.00 SCHOOL FEES
359.00 27-Apr-18
52
ONYEKABA GERALD
1,000.00 PTA
360.00 24-Apr-18
135
ABDULAI DANJUMA
600.00 PTA
359.00 26-Apr-18
218
ADEDEJI, EGODI OPURICHE
2,800.00 SCHOOL FEES
359.00 27-Apr-18
53
PROMASIDOR NIGERIA LIMITED
ABDULKADIR ABUBAKAR
4,000.00 PTA
2,500.00 PTA
359.00 27-Apr-18
54
UBA PLC
510,925.00 1,000,000 USER MOBILE TOKEN LICENSE
360.00 24-Apr-18
137
ADEBOLA ADEMOLA
3,000.00 BTA
359.00 26-Apr-18
220
ANTHONY UDOFIA
3,000.00 LIVING EXPENSES
359.00 27-Apr-18
55
UBA PLC
389,171.95 ORACLE PART PAYMENT
360.00 24-Apr-18
138
ADELEKE J OGUNBANWO
356.25 PTA
360.00 26-Apr-18
221
ASAYE LATEEF OLANREWAJU
2,500.00 PTA
359.00 27-Apr-18
56
UZONDU OKOYE SAMUEL
5,000.00 BTA
57
ABUBAKAR S RABIU
58
ADANIKE OCHUKO SOLOMON
59
AFUECHETA TRANSP SERVICE LTD AHANEKU CHIBUZO VALERIA AJOMOLE JOHNSON KAYODE
360.50 24-Apr-18
4,000.00 PTA
136
359.00 26-Apr-18
222
AYOKU A LIADI
140
ADELEYE BOLANLE LOVETH
852.36 PTA
359.00 26-Apr-18
223
CBN
212,962.07 UNUTILIZED IMTO
357.00 27-Apr-18
141
ADEYEMI ESTHER ADEPEJU
4,000.00 PTA
360.00 26-Apr-18
224
CBN
144,448.61 UNUTILIZED IMTO
357.00 27-Apr-18
139
ADELEYE BOLANLE LOVETH
600.00 PTA
500.00 SCHOOL FEES
359.00 25-Apr-18
142
AGADA ABIMBOLA OLUBUNMI
4,000.00 PTA
359.00 26-Apr-18
225
CHOICE FINISHINGS
7,400.40 SCHOOL FEES
360.00 25-Apr-18
143
AGBAGU L. EDEWEDE-OKOEBOR
4,000.00 PTA
359.00 26-Apr-18
226
COLLEGE OF EDU. AGBOR
700.00 PTA
359.00 25-Apr-18
144
AJETUNMOBI MARUF AKANNI
62
AKAMAGUNA ANTHONY I.
4,000.00 PTA
360.00 25-Apr-18
145
AJOMOLE JOHNSON KAYODE
AKINDE AKINTOYE TITILAYO
5,000.00 BTA
360.00 25-Apr-18
146
AKINWUNMI ADEBOLA FUNKE
AKINKUOWO ADEGBOLA ERIC
AKINBIYI OLUFUNSO AKINSOJI
360.00 25-Apr-18
63 64
219
360.00 26-Apr-18
360.00 25-Apr-18
360.00 24-Apr-18
500.00 SCHOOL FEES
60 61
24,030.80 COWBELL INSTANT MILK POWDER
133
1,000.00 PTA
1,000.00 PTA
227
359.00 26-Apr-18
EGYPT AIR
4,630.62 SCHOOL FEES
289.80 27-Apr-18
3,440.93 SCHOOL FEES
359.00 27-Apr-18
12,634.20 SCHOOL FEES
359.00 27-Apr-18
2,500,000.00 REMITTANCE OF TICKET SALES
360.00 27-Apr-18
700.00 PTA
359.00 26-Apr-18
228
FAGBUARO ADEWUNMI
4,000.00 PTA
359.00 27-Apr-18
4,000.00 PTA
360.00 26-Apr-18
229
HON ANIRAH EUNICE OKIEMUTE
4,000.00 PTA
359.00 27-Apr-18
IFEANYI MOSES N.
4,000.00 PTA
360.00 27-Apr-18
800.00 PTA
359.00 27-Apr-18
230
500.00 PTA
360.00 25-Apr-18
ALADEOJEBI ADEBIMPE O.
2,280.00 PTA
360.00 26-Apr-18
65
ALABI LATIFAT ADERAYO
4,000.00 PTA
360.00 25-Apr-18
148
ALIYU GALADIMA NUHU
4,000.00 PTA
359.00 26-Apr-18
231
KOMOLAFE OLUWASEUN EZEKIEL
66
ALUKO BIOYE TAJUDEEN
4,000.00 PTA
360.00 25-Apr-18
149
AMAN-OLONIYO BIMBOLA FOLA
1,111.95 PTA
359.00 26-Apr-18
232
LAWAL ADEBANKE
67
AVIVA IND. NIGERIA LTD.
69,585.78 MATERIALS FOR EXERCISE BOOKS
360.50 25-Apr-18
150
ANAZOR SANDRA OBIANUJU
2,500.00 PTA
359.00 26-Apr-18
233
LORNA NIGERIA LIMITED
22,755.00 ARTIFICIAL FILAMENT TOW
356.50 27-Apr-18
68
AVIVA IND. NIGERIA LTD.
11,611.92 MATERIALS FOR EXERCISE BOOKS
360.50 25-Apr-18
151
ANULIKA LINDA OBIAGA
4,000.00 PTA
360.00 26-Apr-18
234
LORNA NIGERIA LIMITED
22,755.00 ARTIFICIAL FILAMENT TOW
356.50 27-Apr-18
69
BAMGBOSE OLUFUNKE YEMISI
70
BAMIGBOYE EMMANUEL O
71
BAYSWATER IND. LTD
4,000.00 PTA
360.00 25-Apr-18
11,008.51 SCHOOL FEES 5,000.00 CARAMEL COLOUR POWDER
ARTHUR OKWUDIRI UCHENDU
3,977.68 PTA
359.00 26-Apr-18
NNAMANI EMMANUEL UMRANO
1,500.00 PTA
359.00 27-Apr-18
359.00 25-Apr-18
153
AWOFISAYO OMOLARA
4,000.00 PTA
360.00 26-Apr-18
236
NWABUNWANNE IFEANYI M
4,000.00 PTA
359.00 27-Apr-18
360.50 25-Apr-18
154
AYEJUNIKANWA FELIX ADELAJA
4,000.00 PTA
360.00 26-Apr-18
237
OLUWADIYA KEHINDE SUNDAY
4,000.00 PTA
359.00 27-Apr-18
235
72
BAYSWATER IND. LTD CBN
289,417.06 UNUTILIZED IMTO
357.00 25-Apr-18
156
BANJOKO OLUWATOSIN O
359.00 26-Apr-18
239
OSUERE AKPOTU FELIX
2,000.00 PTA
359.00 27-Apr-18
74
CBN
266,780.86 UNUTILIZED IMTO
357.00 25-Apr-18
157
CBN
191,883.44 UNUTILIZED IMTO
357.00 26-Apr-18
240
OTUNBA MOSHOOD OLANIYAN
4,000.00 PTA
360.00 27-Apr-18
CBN
170,583.88 UNUTILIZED IMTO
357.00 26-Apr-18
CHOICE FINISHINGS
360.50 25-Apr-18
152
359.00 27-Apr-18
2,500.00 PTA
73 75
5,000.00 SEASONING CUBE FAT
147
6,000.00 SCHOOL FEES
76
CHUKWUNENYE C ORJI
77
CROSS MARINE SERVICES LIMITED
359.00 25-Apr-18
3,844.37 SCHOOL FEES 458,996.24 DEMURRAGE CHARGE
155
158
BABALOLA HELEN-LOIS YEMISI
241
OMOTOSO TOLUWALASE E.
PATRICK A IKHENA
3,000.00 PTA
359.00 27-Apr-18
10,774.68 SCHOOL FEES
359.00 27-Apr-18
159
CHIDIEBERE IWU
900.00 PTA
360.00 26-Apr-18
242
UTAZI THOMAS SMART
160
CHUKWUJAMA EMMA ONYEKA
4,000.00 PTA
360.00 26-Apr-18
243
UZAMERE LEAH EZINNE
1,800.00 PTA
360.00 26-Apr-18
244
WEST AFRICAN CERAMICS LTD
5,000.00 BLACK PIGMENT PG64034
360.50 27-Apr-18
613.95 PTA
360.00 26-Apr-18
245
WEST AFRICAN CERAMICS LTD
5,000.00 BLACK BODY STAIN AL85470
360.50 27-Apr-18
EGBENUSI NOMA VANESSA
4,000.00 PTA
360.00 25-Apr-18
161
DIKE CHIKA
EGOR F EGBE
8,401.40 SCHOOL FEES
359.00 25-Apr-18
162
DR. AGANTEM EMMANUEL E
5,000.00 BTA
238
359.00 25-Apr-18
78
EIGBEDION PIUS UMANYE
359.00 26-Apr-18
360.50 25-Apr-18
79 80
994.42 PTA 470.00 PTA
360.00 25-Apr-18
163
DR. OHIAERI BENJAMIN NNAMDI
4,000.00 PTA
360.00 26-Apr-18
500.00 PTA
360.00 26-Apr-18
1,300.00 PTA
360.00 26-Apr-18
81
EKWURIBE BOB
4,000.00 PTA
360.00 25-Apr-18
164
EGBELE BLESSING OAMEN
82
ELEGON EVELYN NOGIERU
4,000.00 PTA
360.00 25-Apr-18
165
EKOP GODWIN EFFIONG
83
EMENIKE OBI
9,437.00 SCHOOL FEES & UPKEEP
359.00 25-Apr-18
166
ELAIGWU GRACE ENE
1,500.00 PTA
359.00 26-Apr-18
4,000.00 PTA
359.00 27-Apr-18
750.00 PTA
359.00 27-Apr-18
SOURCES OF FOREIGN EXCHANGE AS AT 27TH APRIL 2018 S/N
SOURCE
S/N
SOURCE
S/N
SOURCE
1
AUTONOMOUS
199.70
314.00 23-Apr-18
67
AUTONOMOUS
235.63
314.00 24-Apr-18
133
AUTONOMOUS
500.00
314.00 26-Apr-18
2
AUTONOMOUS
324.39
314.00 23-Apr-18
68
AUTONOMOUS
3,897.52
314.00 24-Apr-18
134
AUTONOMOUS
874.00
314.00 26-Apr-18
3
AUTONOMOUS
4,300.00
314.00 23-Apr-18
69
AUTONOMOUS
30,000.00
359.50 24-Apr-18
135
AUTONOMOUS
4
AUTONOMOUS
75.00
314.00 23-Apr-18
70
INTERBANK
100,000.00
305.80 24-Apr-18
136
AUTONOMOUS
60.41
314.00 26-Apr-18
5
AUTONOMOUS
860.84
314.00 23-Apr-18
71
AUTONOMOUS
7,487.00
314.00 24-Apr-18
137
AUTONOMOUS
107.49
314.00 26-Apr-18
6
AUTONOMOUS
850.00
359.00 23-Apr-18
72
AUTONOMOUS
300,000.00
359.50 24-Apr-18
138
AUTONOMOUS
137.71
314.00 26-Apr-18
7
AUTONOMOUS
294.50
314.00 23-Apr-18
73
AUTONOMOUS
130.00
314.00 24-Apr-18
139
AUTONOMOUS
840.58
314.00 26-Apr-18
8
AUTONOMOUS
270.00
314.00 23-Apr-18
74
AUTONOMOUS
233,100.00
359.50 24-Apr-18
140
AUTONOMOUS
250.00
IMTO
3,244.57
355.00 24-Apr-18
141
AUTONOMOUS
970.88
314.00 26-Apr-18
IMTO
303,424.83
355.00 24-Apr-18
142
INTERBANK
100,000.00
305.80 26-Apr-18
AMOUNT (US$)
RATE DATE
AMOUNT (US$)
RATE DATE
AMOUNT (US$)
95.00
RATE DATE
314.00 26-Apr-18
314.00 26-Apr-18
9
AUTONOMOUS
6,135.50
314.00 23-Apr-18
75
10
AUTONOMOUS
171.15
314.00 23-Apr-18
76
11
AUTONOMOUS
12,150.00
314.00 23-Apr-18
77
AUTONOMOUS
314.00 25-Apr-18
143
AUTONOMOUS
72.53
314.00 26-Apr-18
12
AUTONOMOUS
23,680.18
314.00 23-Apr-18
78
AUTONOMOUS
72,900.00
359.00 25-Apr-18
144
AUTONOMOUS
435.20
314.00 26-Apr-18
13
AUTONOMOUS
153.39
314.00 23-Apr-18
79
AUTONOMOUS
665,000.00
359.00 25-Apr-18
145
AUTONOMOUS
13.00
99.52
314.00 26-Apr-18
14
AUTONOMOUS
914.00
314.00 23-Apr-18
80
AUTONOMOUS
1,794.52
314.00 25-Apr-18
146
AUTONOMOUS
2,487.00
314.00 26-Apr-18
15
AUTONOMOUS
17,000.00
359.00 23-Apr-18
81
IMTO
3,693.28
354.86 25-Apr-18
147
AUTONOMOUS
397,800.00
359.50 26-Apr-18
16
AUTONOMOUS
73.80
314.00 23-Apr-18
82
IMTO
352,014.53
355.00 25-Apr-18
148
17
AUTONOMOUS
90.00
314.00 23-Apr-18
83
AUTONOMOUS
1,701.00
314.00 25-Apr-18
149
IMTO
253,108.25
355.00 26-Apr-18
18
AUTONOMOUS
73.63
314.00 23-Apr-18
84
AUTONOMOUS
453.08
314.00 25-Apr-18
150
AUTONOMOUS
400,000.00
359.75 27-Apr-18
19
AUTONOMOUS
1,015.00
314.00 23-Apr-18
85
AUTONOMOUS
8,000.00
359.00 25-Apr-18
151
AUTONOMOUS
63.59
314.00 27-Apr-18
20
AUTONOMOUS
139.32
314.00 23-Apr-18
86
AUTONOMOUS
33,898.31
359.00 25-Apr-18
152
AUTONOMOUS
30.90
21
AUTONOMOUS
562.66
314.00 23-Apr-18
87
IMTO
4,032.52
355.00 25-Apr-18
154
AUTONOMOUS
338.94
314.00 27-Apr-18
22
AUTONOMOUS
144.99
314.00 23-Apr-18
88
IMTO
381,856.89
355.00 25-Apr-18
156
AUTONOMOUS
1,050.00
314.00 27-Apr-18
23
IMTO
2,697.19
354.90 23-Apr-18
89
AUTONOMOUS
5,000.00
314.00 26-Apr-18
157
AUTONOMOUS
130,000.00
360.15 27-Apr-18
24
IMTO
245,023.22
355.00 23-Apr-18
90
AUTONOMOUS
190.00
314.00 26-Apr-18
159
AUTONOMOUS
500.00
314.00 27-Apr-18
25
AUTONOMOUS
116.81
314.00 23-Apr-18
91
AUTONOMOUS
1,780.00
314.00 26-Apr-18
160
AUTONOMOUS
176,000.00
359.50 27-Apr-18
26
AUTONOMOUS
363.55
314.00 23-Apr-18
92
AUTONOMOUS
2,500,000.00
359.75 26-Apr-18
161
27
AUTONOMOUS
400.00
314.00 23-Apr-18
93
AUTONOMOUS
296.15
314.00 26-Apr-18
162
AUTONOMOUS
36.16
314.00 27-Apr-18
28
AUTONOMOUS
73.63
314.00 23-Apr-18
94
AUTONOMOUS
1,000.00
314.00 26-Apr-18
163
AUTONOMOUS
3,000.00
314.00 27-Apr-18
29
AUTONOMOUS
195.50
314.00 23-Apr-18
95
AUTONOMOUS
3,000.00
314.00 26-Apr-18
164
AUTONOMOUS
200.00
314.00 27-Apr-18
30
AUTONOMOUS
281.74
314.00 23-Apr-18
96
AUTONOMOUS
104.91
314.00 26-Apr-18
165
AUTONOMOUS
1,000.00
314.00 27-Apr-18
31
AUTONOMOUS
790.00
314.00 23-Apr-18
97
AUTONOMOUS
235.00
314.00 26-Apr-18
166
AUTONOMOUS
615.00
314.00 27-Apr-18
32
AUTONOMOUS
239.48
314.00 23-Apr-18
98
AUTONOMOUS
120.52
314.00 26-Apr-18
167
AUTONOMOUS
1,000.00
314.00 27-Apr-18
33
AUTONOMOUS
101.16
314.00 23-Apr-18
99
AUTONOMOUS
138.21
314.00 26-Apr-18
168
AUTONOMOUS
1,030.00
314.00 27-Apr-18
34
AUTONOMOUS
314.00 23-Apr-18
100
AUTONOMOUS
7,528.42
314.00 26-Apr-18
169
AUTONOMOUS
503.32
314.00 27-Apr-18
35
AUTONOMOUS
232.28
314.00 23-Apr-18
101
AUTONOMOUS
286.77
314.00 26-Apr-18
170
AUTONOMOUS
283.21
314.00 27-Apr-18
36
AUTONOMOUS
1,175.00
314.00 23-Apr-18
102
AUTONOMOUS
107.25
314.00 26-Apr-18
171
AUTONOMOUS
534.55
314.00 27-Apr-18
AUTONOMOUS
200.00
314.00 26-Apr-18
172
IMTO
1,965.09
354.89 27-Apr-18
190,633.06
355.00 27-Apr-18
22.09
IMTO
AUTONOMOUS
37
AUTONOMOUS
300.00
314.00 23-Apr-18
103
38
AUTONOMOUS
125.00
314.00 23-Apr-18
104
AUTONOMOUS
1,700.00
314.00 26-Apr-18
173
IMTO
2,736.33
414.86
355.00 26-Apr-18
314.00 27-Apr-18
314.00 27-Apr-18
314.00 23-Apr-18
105
AUTONOMOUS
556.46
314.00 26-Apr-18
174
AUTONOMOUS
2,500.00
314.00 27-Apr-18
40
AUTONOMOUS
1,287.97
314.00 23-Apr-18
106
AUTONOMOUS
128.97
314.00 26-Apr-18
175
AUTONOMOUS
185.00
314.00 27-Apr-18
41
AUTONOMOUS
150,500.00
359.50 23-Apr-18
107
AUTONOMOUS
504.17
314.00 26-Apr-18
176
AUTONOMOUS
34.60
188,600.00
359.50 23-Apr-18
108
AUTONOMOUS
8,000.00
359.00 26-Apr-18
177
AUTONOMOUS
69.08
314.00 27-Apr-18
3,277.80
355.00 23-Apr-18
109
AUTONOMOUS
585.63
314.00 26-Apr-18
178
AUTONOMOUS
577.25
314.00 27-Apr-18
AUTONOMOUS
1,260.00
39
AUTONOMOUS
3,000.00
314.00 27-Apr-18
42
AUTONOMOUS
43
IMTO
44
IMTO
300,989.89
355.00 23-Apr-18
110
314.00 26-Apr-18
179
AUTONOMOUS
103.19
314.00 27-Apr-18
45
CBN
2,000,000.00
357.00 23-Apr-18
111
AUTONOMOUS
332.45
314.00 26-Apr-18
180
AUTONOMOUS
175.00
314.00 27-Apr-18
46
CBN
3,000,000.00
357.00 23-Apr-18
112
AUTONOMOUS
1,103.60
314.00 26-Apr-18
181
AUTONOMOUS
315.00
AUTONOMOUS
332.45
314.00 27-Apr-18
AUTONOMOUS
17,000.00
359.00 27-Apr-18
314.00 27-Apr-18
47
AUTONOMOUS
138.79
314.00 24-Apr-18
113
AUTONOMOUS
180.18
314.00 26-Apr-18
182
48
AUTONOMOUS
40.00
314.00 24-Apr-18
114
AUTONOMOUS
822.00
314.00 26-Apr-18
183
49
AUTONOMOUS
1,532.75
314.00 24-Apr-18
115
AUTONOMOUS
190.00
314.00 26-Apr-18
184
AUTONOMOUS
50
AUTONOMOUS
60.00
314.00 24-Apr-18
116
AUTONOMOUS
529.26
314.00 26-Apr-18
185
INTERBANK
51
AUTONOMOUS
182.25
314.00 24-Apr-18
117
AUTONOMOUS
407.98
314.00 26-Apr-18
186
AUTONOMOUS
52
AUTONOMOUS
500,000.00
359.60 24-Apr-18
118
AUTONOMOUS
1,400.00
314.00 26-Apr-18
187
AUTONOMOUS
127.49
314.00 27-Apr-18
53
AUTONOMOUS
99,990.00
359.50 24-Apr-18
119
AUTONOMOUS
154.92
314.00 26-Apr-18
188
AUTONOMOUS
194,000.00
359.50 27-Apr-18
54
AUTONOMOUS
6,739.78
314.00 24-Apr-18
120
AUTONOMOUS
550.00
314.00 26-Apr-18
189
AUTONOMOUS
55
AUTONOMOUS
585.63
314.00 24-Apr-18
121
AUTONOMOUS
150.00
314.00 26-Apr-18
190
IMTO
2,931.76
355.00 27-Apr-18
56
AUTONOMOUS
50.00
314.00 24-Apr-18
122
AUTONOMOUS
106.11
314.00 26-Apr-18
191
IMTO
281,017.67
355.00 27-Apr-18
314.00 26-Apr-18
187
AUTONOMOUS
214.27
314.00 13-Apr-18
314.00 27-Apr-18 305.30 27-Apr-18
4,740.00
314.00 27-Apr-18
30.90
314.00 27-Apr-18
57
AUTONOMOUS
314.00 24-Apr-18
123
AUTONOMOUS
58
AUTONOMOUS
105.84
314.00 24-Apr-18
124
IMTO
2,630.35
354.89 26-Apr-18
188
AUTONOMOUS
940.75
314.00 13-Apr-18
59
AUTONOMOUS
2,480.00
314.00 24-Apr-18
125
IMTO
224,814.82
355.00 26-Apr-18
189
AUTONOMOUS
65,000.00
359.50 13-Apr-18
60
AUTONOMOUS
996.00
314.00 24-Apr-18
126
AUTONOMOUS
1,000.00
314.00 26-Apr-18
190
AUTONOMOUS
35.69
314.00 13-Apr-18
61
AUTONOMOUS
60.00
314.00 24-Apr-18
127
AUTONOMOUS
350.74
314.00 26-Apr-18
191
AUTONOMOUS
297.00
314.00 13-Apr-18
62
AUTONOMOUS
607.50
314.00 24-Apr-18
128
AUTONOMOUS
3,950.00
314.00 26-Apr-18
192
AUTONOMOUS
1,911.37
314.00 13-Apr-18
63
AUTONOMOUS
208.28
314.00 24-Apr-18
129
AUTONOMOUS
120.89
314.00 26-Apr-18
193
IMTO
3,354.01
355.00 13-Apr-18
64
IMTO
2,659.41
354.88 24-Apr-18
130
AUTONOMOUS
265.96
314.00 26-Apr-18
194
IMTO
303,777.04
355.00 13-Apr-18
65
IMTO
238,802.50
355.00 24-Apr-18
131
AUTONOMOUS
622.58
314.00 26-Apr-18
66
AUTONOMOUS
830.00
314.00 24-Apr-18
132
AUTONOMOUS
129.13
314.00 26-Apr-18
www.ubagroup.com
57.37
130.61
125.00 230,000.00
Africa’s global bank
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T H I S D AY ˾ ͱ˜ ͰͮͯͶ
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Demystifying Campaigns
Safety
Enlightenment
Raheem Akingbolu reviews ‘Power Play’, an enlightenment tool conceptualised by the Ikeja Electric Plc to educate and entertain customers on the hazards and common violations in the power sector Educating consumers on new invention, application and hazards, is one of the attributes of a responsible corporate organisation. Though it helps companies to bond with their patrons, consumers gain more as such steps equip them with relevant information about products and services. In particular, because of the sensitivity of the power and energy sector, such a campaign is highly recommended to safeguard human lives. According to BRG Communications, a United States-based public relations firm that engages mostly in consumer education, involving in consumer awareness campaign promotes mutual relationship between brand owners and the target audience. In Nigeria, many organisations have toed the global path to boost their equities as well as impacting on consumers. The recent being the effort of Ikeja Electric Plc (IE), through a product tagged ‘Power Play’, which is designed to entertain and educate consumers on information relating to hazards and common violations. Awareness campaign made simple Perhaps because of its status as the nation’s largest electricity distribution company, Ikeja Electric Plc (IE), has taken its safety enlightenment campaign a notch higher with the unveiling of its proprietary board game tagged Power Play. Power Play is a registered trademark of Ikeja Electric and is conceptualised and manufactured locally. It comprises a segmented board, dice, tokens and labeled cards with instructions on how to play. The game, which is novel in the electricity industry, is designed as an education and entertainment tool, which provides information relating to hazards and common violations as well as other operational aspects of the business, to customers in IE network, in a family-friendly format. Speaking on the tool, Head of Corporate Communications, Ikeja Electric, Felix Ofulue, noted that Power Play is the first of such campaign in Nigeria, adding that it is in line with the company’s vision of improving lives by enabling people to live safely, feel better and live longer. He said: “At IE, we remain committed to our vision of improving human lives by enabling people to live safely, feel better and live longer and this initiative is another way to further demonstrate this belief. Power Play is one great way to connect with electricity consumers, give them required information, entertain and educate on crucial areas of our operation.� He pointed out that the company has continued to innovatively bridge service and communication gaps between the company and
Students playing the IE’s Power Play Game at the Lagos Empowerment and Resource Network (L.E.A.R.N) Centre, while External Communications Manager, Ikeja Electric, Akinola Ayeni and Project Manager, L.E.A.R.N, Mrs. Aderonke Oguntoyinbo watch. their various publics. Ofolue admitted that the risks and hazards of the electricity sector needed to be communicated in a creative way, such that all customers including family units could embrace tenets of safety and care, while enjoying fun time. “The changing communications landscape is a major factor in IE’s quest to seek new and very innovative ways of sharing important messaging that cuts across all customer segment. We have to find creative ways to communicate to all stakeholders in a manner that is both fun and factual. This is why we have created Power Play and we hope it will provide helpful information that will reduce accidents, protect from hazards, help provide operational information and even save lives�, he said. The Head of Corporate Communications stated that the choice of the launch location was strategic because it provides a platform to share the educational tool with the students with a view to stimulating their interest to become champions of safety education.
“We are beginning with our secondary school children as we believe that they will best embrace the knowledge embedded in the game and of course they will champion the fun-learning process in their various families, being at a significant time of their lives where board games are still a thing of interest and adventure�, he pointed out. Stakeholder endorsement Meanwhile, the company has disclosed that professional bodies such as the Nigerian Society of Engineers (NSE) and Lagos State Safety Commission have endorsed the game, which is currently being distributed across secondary and tertiary institutions in Lagos State. In recent time, IE has attracted many awards as a result of its stellar performances in the area of safety. It has also made giant strides, acquiring the coveted OHSAS 18001 and the ISO 9001Certifications- the first of its kind in the industry. During a pilot launch of the product in Lagos,
stakeholders and some selected customers were seeing in groups playing the game and expressing how delightful they are about the product. While many commend the company for the innovation, some described its dual advantages of being educative and entertaining as next to none. An engineer with one of Ikeja Electric’s subsidiaries -Owutu Undertaking, Ikorodu, Mrs. Amdallah Sanni commends her organisation for coming up with the product. She said the tool has gone a long way in simplifying awareness campaign. “To me, I think this will help our customers, especially women and children to learn with ease about the hazards that are associated with electricity. It is designed to achieve more than education and entertainment. It will keep our customers busy and increase them in qualitative reasoning. On the lighter mood, as we all know, devil finds work for the idle hand, with this, our customers can mind their businesses,� he said.
Budhwar to Speak at TEXEM’s Executive Devt Programme An assessment of the current socio-economic landscape in Nigeria will reveal rising inflation, weak growth, declining consumer demand, high-interest rates, and organisations struggling to survive, it is evident that every Nigerian at each level needs to implement a strategic change. While senior executives know that this strategic change for organisational renewal has to begin with the leaders occupying influential positions in the nation (Ministers, Commissioners, CEOs, MDs, DGs, Directors, senior managers, etc.), the million pound question is how could this be done successfully? To ensure that leaders, teams
and organisations in Nigeria successfully harness the limited opportunities in these tough times, stimulate innovation and emerge as winners, Texem UK, a reputable consulting firm in the United Kingdom offers a solution that will help leaders achieve this and more. With many years of partnering with Nigerian executives to develop more effective and efficient organisations, TEXEM presents a tailored executive development programme titled “Building Successful Organisations that Endure: Aligning Purpose, Process, Performance, and People� to be delivered by Professor Pawan Budhwar, Editor in Chief of British
Budhwar Academy of Management-the world’s leading management Journal. Professor Pawan has offered consultancy services to hundreds of firms globally.
This programme is specially designed to ensure that every organisation in Nigeria successfully succeed, create long-lasting organisations which win and ultimately achieve a sustainable competitive edge. For more information, please visit www.texem.co.uk or email exec@texem.co.uk According to Professor Pawan, “Leaders can learn how to create enduring success by attending the forthcoming programme coming up on the 2nd and 3rd of May at Eko Hotel, Lagos, Nigeria. But in brief, a successful organisation can be defined in a variety of ways depending on a given stakeholder’s viewpoint. It can
be defined regarding market leadership, profitability, and reputation, achievement of action/target/goal in a given period, monetary rewards, or positive impact on others, amongst others. There are few ways of building an enduring organisation; these include: by embedding resilience in their businesses, can act fast to respond to forces of change (e.g., competition, demands, technological advancements, etc.), continuously transforming by developing new competence and capabilities. Others are by minimising the gap between intention and needed actions, having proactive and agile leadership, having a strong
culture aligned to a clear vision, providing extraordinary returns of key stakeholders on an ongoing basis, amongst others�. This training will also enable executives network with key stakeholders while receiving world-class training from world renowned Prof. Pawan Budhwar. It is worth emphasising that Professor Pawan Budhwar has decades of research on worldclass organisational best practice principles which he plans to share with executives at the forthcoming training to ensure attendees build and maintain organisation that will last beyond a lifetime.
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BBNaija: Revving Entertainment
up
Marketing
and
Despite the controversy that trailed BBNaija Season 3 while it lasted, Raheem Akingbolu argues that the reality tv programme has given its promoters the biggest marketing platform and created a new vista for the Nigerian entertainment industry Beyond the financial reward, gifts and the debate that trailed the season three of the Big Brother Naija reality show, events in the last few months have shown that the show has helped all stakeholders; its promoters, the participants, members of the public and the economy. The BBN house currently serves one of the best reality dramas that have got fans to head online to air their views and also make their votes count, despite pressing socio-economic challenges. For MultiChoice, Heritage Bank and Payporte, BBNiger has helped them to bond more with customers and gain more visibility. Four close to four months, traffic on the companies’ social media handles increased, their television commercials attracted more viewers and they enjoyed words of mouth better than before. Of course, network providers also smiled to banks. As a country, Nigeria economy also benefitted as the growth of these organizations will have multiply effect on the economy. This percolates down to members of the public who are the patrons of these brands and who stayed glued to their television stations to be entertained for months. However, the ultimate winners are the participants, whose participation might have opened a new vista for them in the entertainment industry. At a time like this, when Federal Government appears serious with the determination to diversify the economy, boosting the industry will, in no small measure, contribute to such aspiration. For instance, during the presentation of prizes to the participants in Lagos, it was revealed that barely two weeks after emerging winner of the show, Miracle has be endorsed by his home state –Imo, as education ambassador. Excited, the 24-year-old pilot and model announced the feat on Instagram, saying; “Chai!!! HIS Excellency!‌ My Governor!!‌. Rochas Okorocha has busted my Farome!!‌ So much!!‌.. “Education Ambassador “Bless sir, I am deeply truly humbled. In a related development, it was also revealed at the event that another house mate, Dee-One, has concluded arrangement to venture fashion show in big form. Others like Kbrule, Rico Swavey and Teddy A are already pushing their music career while Nina and Bambam are already diving into the movie industry. The winners and the prizes Organisers of the event have fulfilled their promises, as the winner, Miracle Igbokwe has been handed a brand new KIA Seranto SUV, and cheque of N25 million. Other housemates were also in attendance when they were all celebrated at the Multichoice Nigeria Head Office, Victoria Island, Lagos on Monday. They include Angel, Khloe, Dee-One, Anto, Tobi, Cee-C, K.Brule, Nina, Alex, Leo, Khloe, Lolu, and Ahneeka among others. To justify the statement made by the Managing Director, Multichoice Nigeria, John Ugbe, that everyone is a winner, the RegionalDirector, M-Net/Africa Magic, Wangi Mba-Uzoukwu, who thanked the housemates for the drama they brought on the show, disclosed that all former housemates will receive a DSTV explora with one year free subscription. Speaking to Journalists after receiving the key to the SUV and the cheque for the cash reward, the 23-years old winner said he intended to invest in agriculture and further his commercial pilot training. While speaking on his decision to play in the business sector as young entrepreneur, he was quick to refer to disclosed that Alhaji Aliko Dangote was his role model. Meanwhile, both the representatives of PayPorte and Heritage bank, expressed satisfaction over the conduct of the show, giving their penchants to invest in youths as propelling force. A peep into the past Obviously, the best way to explain the benefit of the BBN to the entertainment industry is to look at former housemates, who are now doing well in the industry. For instance, the host of this year’s edition, Ebuka Obi-Uchendu, was a housemate and he has become a household
The excited winner - Miracle, after receiving his car name in the industry after his emergence. In fact, only a few will remember that he was trained as a lawyer. At his unveiling last year as a host of the 2017 edition, which made the lawyer turned media
Besides, going by the happenings in the show last year, where about eight housemates later slugged it out for the ultimate prize of N25million and a brand new SUV, it appeared Nigeria might be in the process of unearthing yet another set of talents. From the enviable fitness skills of Bassey, to the creative skills of ThinTallTony, Debbie Rise, and Efe; to talented entertainers, singers, and models such as TBoss and Bisola, observers predicted that entertainment should expect great stuff from the housemates in years to come
personality the one to usher the housemates into the Big Brother Naija house and take up the task of announcing the evictees week after week, Managing Director, MultiChoice Nigeria, John Ugbe said the organisers were particularly excited to have Ebuka as host of Big Brother Naija because the platform unearthed his potentials and propelled him to stardom. “He has over the years grown to become a prominent face on the Nigerian pop culture and entertainment scene while also lending his voice to youth empowerment initiatives. We believe his cool and debonair personality combined with his healthy dose of wit will spice up the show. Our viewers are in for a great entertainment experience!� Mr. Ugbe had said. Besides, going by the happenings in the show last year, where about eight housemates later slugged it out for the ultimate prize of N25million and a brand new SUV, it appeared Nigeria might be in the process of unearthing yet another set of talents. From the enviable fitness skills of Bassey, to the creative skills of ThinTallTony, Debbie Rise, and Efe; to talented entertainers, singers, and models such as TBoss and Bisola, observers predicted that entertainment should expect great stuff from the housemates in years to come. Equally, in Season three, which was hosted far away in South Africa, there are strong indications that the Nigerian entertainment space has opened up its doors to a wider viewing public, thereby showcasing some of the country’s budding talents, who now have greater chances of success even beyond the ultimate prize. Without doubt, the show generated a high rate of discourse among the youth, who were constantly airing their views on the character of the housemates. So far, the show has reportedly gained optimal visibility both in the mainstream and online media, drawing more than five million viewers. The voting pattern has been influenced by the roles of the housemates in the house, their character and how good they are playing the game. For example, the theme; Double Wahala, which was performed by singer Oritse Femi at one of the live eviction shows, was actively played out by Cee-C and others. Last year, despite the eviction of the trio of Soma, Miyonse, and CocoIce, it is interesting to know that their fame and fortunes have continued to grow by the day after their experience in the house. On Valentine’s Day in 2017, Mr.
Nigeria, Emmanuel Ikubuese, among many other celebrities, paid a surprise visit to the housemates and shared his experience on how he tried to get into the house, but was unsuccessful, a move which informed his decision to go for Mr. Nigeria competition, which he won in 2014. He advised the housemates to look beyond the ultimate prize and utilise the platform to launch their careers, noting that they were stars and Africa was watching them. It came to pass. Also last year, being evicted from the house was definitely not the end of the road for Soma, Miyonse, and CocoIce. Since their eviction and arrival in Nigeria, the housemates had ‘meet and greet’ sessions. The duo of Soma and Miyonse met with the management of Payporte, Indomie Noodles and Nigerian Breweries, all sponsors of the Big Brother Naija show 2017. The first female housemate to leave the house, CocoIce, after her arrival in Nigeria granted several radio interviews and she has been attracting opportunities since then. Ironically, the first male evictee from the house became the first housemate to land a major deal as a fashion ambassador for leading online store, PayPorte, the headline sponsor of the BBN show. Soma joined the likes of Tayo Faniran who was also a Big Brother Africa housemate, who was also a brand ambassador of PayPorte. The housemates’ fame continued to grow as more brands were showing interest in identifying with them. There was collaboration between Bold Magazine and DStv Nigeria to feature all the contestants on a weekly basis. The first of the series featured lover boy and chef, Miyonse, who revealed that being in the house helped unearth his latent skills and much potential. “I was a very shy person before I entered the big brother house, but I became a different person immediately I left the house,� said Miyonse. On his plans for the year, he said, “There will be a Miyonse storm! And it is coming this way. I am coming up with a couple of cooking shows. I am coming up with something unique, something unique to the Big Brother brand, something people would want to associate with. I am also interested in endorsement in the food and beverage industry.� As things are, the next few months will provide answers to the opportunities and benefits of the show to its promoters, the nation’s economy and ultimately the housemates.
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31
E-commerce as Game Changer Kenneth Ugbechie highlights the immense contributions of e-commerce to Nigeria’s economic growth and diversification Make no mistake about it, Africa e-commerce market is growing. It is a demonstration that Africa has effectively joined the global online train. Many reasons account for this chief of which is the increasing access to technology. Mobile telecoms access, for instance, has seen exponential growth on the continent in recent years and Nigeria is leading the log. Nigeria also ranks highest in e-commerce growth. With anticipated increase in the deployment of broadband across the nation, e-commerce in Nigeria is expected to outstrip expectation. In the United Nations Conference on Trade and Development (UNCTAD) 2016 businessto-consumer (B2C) e-commerce index which gauges the readiness of countries to engage in online commerce, no African nation made to it to the top 50 nations but the report did not fail to point out that e-commerce is on the bounce on the continent. Growing internet penetration and increased deployment of internet-enabled gadgets have precipitated an upsurge in global e-commerce spend in recent years, a phenomenon which is expected to gross about $4.058 trillion or 14.6% of total retail spend by 2020. Nigeria, nay Africa, is expected to profit from this projected growth. Different studies by McKinsey and PricewaterhouseCooper (PwC) among others have placed Africa e-commerce on a growth curve. The continent’s online sales are expected to top $75 billion by 2025, with Nigeria taking $10 billion of it, according to projections. But there is a snag. E-commerce in Africa has
Minister of Communications, Adebayo Shittu
A major goal of the President Buhari administration is economic diversiďŹ cation. E-commerce gives vent to this objective because it does not only create jobs for the youths, it also appeals to their fancies and implicitly meets their needs. Ekeh, a mass servant and chorister in his younger days, has always believed that technology holds the key to liberating the African youth from the manacles of poverty. He has over the years invested in the Nigerian youth. The new Konga, largely driven by youths, is yet another avenue to create a sustainable wealth empowerment window To lower in for the nation’s bulging youth population
not been as profitable as it looks on paper. Many e-commerce start-ups fizzle out too soon. It’s either they were not founded on firm financial footing or they deployed strategies that rob them of success. There appears, however, a glimmer of hope. The recent merger between Konga and Yudala (effective May 1, 2018) to trade under the name of Konga presents Nigeria an opportunity to break the cycle of non-profitability on the continent’s e-commerce market. It is a game-changer expected to cut through the ceiling of limitation. Konga was recently acquired by Zinox Group (there were reports that it targeted to also acquire Jumia) in what some people described as the biggest corporate coup. Its merger with Yudala, another e-commerce maverick that sprouted from the stub of the defunct BuyrightAfrica (founded in 2012) has completely reset Nigeria, nay Africa, e-commerce market. It is expected that in the coming months and years, the impact of this acquisition and merger would not only reverberate in Nigeria’s e-commerce circuit, it will resonate across the continent. Zinox Group is Nigeria’s flagship ICT conglomerate with interests spanning manufacturing, systems integration, technology warehousing and distribution, software engineering, telecoms, e-commerce, Internet services among others including a wide-range of non-ICT investments. Promoted by one of Africa’s most fecund minds, Leo Stan Ekeh, Zinox Group has over the years imprinted Nigeria’s name on the global ICT map, pioneering the manufacture of globally-certified systems in Nigeria (desktop computers, laptops, handhelds, power storage devices etc). Year after year in the past two decades, Nigeria has ranked very poor in the World Bank ease-of-doing business index. It is worse for technology companies who have to function as enablers for other businesses. Lack of steady power supply, requisite skills set, frustration of losing your staff after investing in them to rivals and other sectors, poor forex management resulting in inadequate forex to
sustain growth and create new opportunities, among others are the drawbacks that assail businesses in this clime. Add to that, a consistently poorly cobbled government policy that promotes patronage of exotic goods and services to the detriment of indigenous goods. Yet, Zinox has been able to surmount them to stay in commanding position ahead of its competitors in more advanced and less volatile economies. Analysts have attributed the Zinox success story to the leadership quality and tenacity of its founder, Mr. Ekeh. His ability to always assemble a team with a rare mix of youth and experience has kept his empire at the cutting edge. He, obviously, has been planning for this moment. Years ago, he built the largest retail one-stop market in Owerri, Imo State with 229 stores. He followed it up with the biggest retail market in Abuja with 600 stores. All of this will come handy in the new Konga experience especially with the appointment of vastly experienced corporate strategist Olusiji Ijogun as its chairman. Many believe that the mix of youth and experience will place Konga on the cusp of a growing curve of profitability and efficiency. The possibilities and opportunities of the merger, expectedly, will outstrip the competition given the energy and momentum that the promoters will infuse into it. E-commerce is both today and tomorrow. To understand its essence, let’s reflect on some statistics. In 2016, an estimated 1.61 billion people worldwide purchased goods online. Same year, global e-retail sales stood at $1.9 trillion while in 2017, retail e-commerce sales worldwide amounted to $2.829 trillion. Projections show a growth of up to $4.06 trillion by 2020. Asia Pacific e-retail sales accounted for 12.1 percent of global retail sales in 2016 while Africa and Middle East accounted for a tiny 1.8 percent of retail sales in the same period. Africa from all indications is still a virgin market. Market pundits have predicted a great leap upward for African market with increasing
mobile penetration driven by growing broadband awareness and adaptation. Africa is therefore a frontier market with the possibility of exponential growth in e-commerce. This is where the Zinox acquisition of Konga makes the most business sense. It will not only sizzle the Nigerian market, it is expected to stir up the African e-commerce bourse given the vision and focus of Zinox to widen and deepen its operations on a continentwide dimension. Zinox business in-roads in the Middle East and the rest of Africa will come handy in the envisaged expansion of Konga operations. Such expansion will not only create thousands of direct jobs but also thousands of ancillary jobs. With growing African fashion, entertainment and food industries as well as other indigenous but globally appealing products, the new Konga will serve as a reliable off-taker for most of the young African entrepreneurs. One major challenge of e-commerce in Nigeria is its high churn rate. There is lack of loyalty from consumers who feel cheated in earlier transactions. They claim that products appear cute online but turn ugly on delivery. This is both offensive and off-putting and it is the norm across many of the e-commerce platforms. The pedigree of Konga and Yudala takes care of this. Both share a culture of ‘what you see is what you get’ (WYSIWYG) which is pivotal to delivering top of the range service and in record time too. A major goal of the President Buhari administration is economic diversification. E-commerce gives vent to this objective because it does not only create jobs for the youths, it also appeals to their fancies and implicitly meets their needs. Ekeh, a mass servant and chorister in his younger days, has always believed that technology holds the key to liberating the African youth from the manacles of poverty. He has over the years invested in the Nigerian youth. The new Konga, largely driven by youths, is yet another avenue to create a sustainable wealth empowerment window for the nation’s bulging youth population.
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BUSINESSWORLD
DEVELOPMENT
Ugolor: Nigeria Should Pay More Attention to Corruption Prevention than Prosecution As the country grapples with the issue of official corruption, which is enhanced by slow prosecution and cronyism, the Executive Director of the Africa Network for Environment and Economic Justice, Rev. David Ugolor, shares his views on the scourge of corruption with Abimbola Akosile, among other development issues
Y
ou have devoted half of your life (24 years) to advocacy for a better society...how has the struggle been and can you recall three landmark events that have helped shaped your activism? Looking back to how I started from Sapele to Iguobazuwa in Ovia South-West Local Government, Edo State, I would say that a lot of water has passed under the bridge. The key to the success of my work which led to the establishment of the Africa Network for Environment and Economic Justice (ANEEJ) is traced to my firm belief in God Almighty and my parents. For the past 25 years I have been deeply involved in defending the human rights and participating actively in the global civil society movement through various platforms and this has attracted obviously, both pains and victory that one can easily ascribe to God Almighty. Therefore, one can easily point out many landmark events that have helped shape my activism. But for the purpose of your question, I will restrict my response to only three which really impacted positively on my work through the ANEEJ platform. The first one was when I refused to be intimidated by my secondary teacher who took sides with a female junior student who misbehaved during our preparation for final examination at Iguobazuwa Grammar School. My action provided the opportunity for other students to begin to stand up for their rights and we later established a secret students’ team to monitor the corrupt activities of teachers with female students. The outcome of this bold initiative denied me the privilege of becoming the Head Prefect even though I merited the position. When my name was excluded from the list of those appointed into student leadership, I was not only disappointed but became more inspired to sustain the demand for justice within the school system and remain firm to the cause until I finished from that school. Before then the school nominated me to participate as one of the best students in the Gani Fawehinmi Scholarship in Benin City. I missed the opportunity to be selected because of the large crowd of people who wanted to take part. But I was not discouraged because I listened to Gani’s speech on that very day and everything about me changed. From that day, I made a commitment that I will always stand for justice and fight to defend the rights of our people. What I was unable to get from that scholarship I received from Gani what I will never forget in my life. I later became an active member of the National Conscience movement which was established by Gani to defend the rights
Rev. Ugolor of Nigerians. The second landmark event was when I recovered my father’s pension money from the Nigerian Police in Iguobazuwa. That action was very historic and it remains a defining moment in my life struggle to survive in Nigeria. My father retired from the Ministry of Agriculture and later died before his pension was paid by the Government. This experience also contributed to what inspired me to always stand up for justice, equity and fairness. The third one was my experience from the Nigerian Police which was connected to the assassination of my late friend, Olaitan Oyerinde, former Principal Private Secretary to Adams Oshiomhole, the former Governor of Edo State. I was arrested by the Nigerian Police and framed up as the killer. But the response of the people, particularly the people of Edo State and my good friend, Comrade Adams was very inspiring and I was later vindicated after the SSS displayed the real killers. That experience has also helped to shape my belief and commitment to the struggle that light will always overcome darkness. Many things have happened in the last 25 years fighting as a human rights activist and I am indeed grateful to God Almighty that I am still working and defending the human rights of our people. In tandem with your organisation’s name and
vision, do you think economic justice for all is possible in Nigeria? Absolutely, economic justice is very possible. What we need to do is to continue to demand for economic justice. We will continue to work to promote economic and environmental justice for all in Nigeria and other parts of the world in line with our name and vision. You know that this is a responsibility for all and not only ANEEJ or the government. But the challenge is in getting all parties to play their role. We are playing our role; the government also should be playing its role. Because of the prevalence of corruption and other anomalies, it is equally difficult for government to meet its obligations to the people. We are all aware that public funds that could be better used to address critical sectors for national development, such as health, education, electricity, roads, and other infrastructural projects for the social, political and economic well-being of the country are diverted by some Politically Exposed Persons (PEPs), civil servants and their agents. This will not lead us anywhere until we denounce this and work for the good of the common man. As an anti-corruption crusader, which aspect should Nigeria focus on more: preventing official corruption or punishing corrupt acts to serve as a deterrent to others who may be tempted?
Both aspects of anti-corruption are essential but the most important is taking steps to prevent corruption. Unfortunately, the bulk of Nigeria’s effort and attention has been channelled to investigation and prosecution of corruption suspects. The truth is that preventing corruption is more economical than investigating and prosecuting corruption suspects. This is because resources which ordinarily would have been spent on development initiatives that will improve the lives of citizens are spent on investigation and prosecution of suspects. A former chief justice of Nigeria once lamented the slow pace of investigation and prosecution of cases in Nigeria. The Chief Judge also cited the trial of former Governor James Ibori in the UK and said his investigation alone cost the British taxpayers £14 million. Apart from that, the current system in the country allows corruption to thrive. Many years later after the crimes, attempts are still being made to bring suspects to justice. What I mean is that certain class of public office holders in Nigeria enjoy immunity e.g. the president and the governors. Some of these persons often do two terms in office, in many cases, before prosecution starts, many of the witnesses may have died or the evidence destroyed. Our judicial system adds to the frustration, as cases drag for several years without making headway. This explains why we have many pending high profile cases. It is regrettable that some of the governors who served between 1999 and 2003 and even up to 2007 are still been prosecuted today, with only very few having been convicted in Nigeria like former Edo and Bayelsa State governors. Another side of the matter is that, often times, the ruling party is reluctant to expose and prosecute their party loyalists. A lot of red flags have been raised among politicians belonging to the ruling party in Nigeria. Yet action has not been taken in many instances. This was not different from what happened in previous administrations when a different party was in charge. That is why I would suggest that Nigeria should pay more attention to corruption prevention. Institutions should be strengthened to make it difficult for corruption to take place in the first place. People who have corrupt tendencies can operate in a system but the system will prevent them from doing otherwise. I particularly appreciate some of the work of ICPC that is directed at corruption prevention especially the effort to establish anti-corruption and transparency units across MDAs and schools outreach. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
RANDOM THOTS DigniďŹ ed Labour Nigerians have been variously described as the happiest people in the world. And now the Senate President has also described the Nigerian worker as the bedrock of economic growth and by extension national development. He has also promised to ginger the National Assembly to help improve the lot of Nigerian workers. As Nigerians marked the Workers Day on May 1, this reporter recalls more than 30 years ago when his father told him how he received three job offers in his
mailbox while still an undergraduate in one of Nigeria’s oldest universities. According to him, jobs were plentiful back then and university students were coveted by employers across every sector of the economy. The fifth and sixth lines of the first stanza of the national anthem state thus: “The labour of our heroes past... shall never be in vain�. Truth be told, millions of heroes labour in vain in Nigeria on a daily basis, barely eking out a living or making enough for personal use,
much less for family and other commitments. In those days in Nigeria, honest labour was cherished and dignified. Although honest labour has not altered much presently, it is hard to remain dignified in the face of grinding poverty, unpaid wages, pensions and other entitlements. Now pensioners sadly drop dead in long payment queues while their pensions are siphoned into private pockets. If the Senate President helps to im-
prove the welfare of Nigerian workers, then the average ‘labourer’ may yet get his or her rewards while still here on earth. The pitiable minimum wage of N18,000 is a good starting point for the Legislature to influence positive change, and the proposed N66,000 minimum wage will surely bring back smiles to the faces of Nigerian workers. For those who form the bedrock of this country’s development, that wage is not too much...is it? -Abimbola Akosile
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T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś
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Youths can boost agriculture in Nigeria
AGRO NEWS NIGERIA
How Can Nigeria Enjoy Youth Advantage? Statistics reveal that Nigeria has the largest number of out-of-school children in the world, while UNESCO in 2017 disclosed that over 63 million youths are illiterates in Nigeria. However, other countries enjoy the benefits of their youth populations and maximise their development potential through demographic dividends. To you, how can Nigeria best harness the huge potential in her youth population to also boost her development process? Abimbola Akosile
THE FEEDBACK
* Our youth size connotes huge human potential that Nigeria must harness now. China, Korea, India etc are maximising the demographic dividends of their youth population. Our older ones in power must pave way for youths to take over for a better tomorrow. - Miss Apeji Patience Eneyeme, Badagry, Lagos State
Top tip:
Quality education
Second:
Skills empowerment
Third:
Agricultural incentives
Radical tip:
Youths’ take-over!
Total no of respondents:
22
* Youths are the vanguard for positive change. We can harness the huge potential in them by investing massively in their education and engaging them in productive ventures. Let our leaders provide right direction and involve the youths in policy formulation and implementation for this country to move forward. God bless the youths. God bless Nigeria. - Mr. Odey Ochicha, Leadership Specialist, Abuja
Male:
19
Female:
3
Highest location:
Lagos (9)
* The simple answer is increased funding for education, but implementation remains a problem, especially when our aversion to planning is considered vis-à -vis our penchant for corruption. But with a patriotic, visionary and focused government led by selfless individuals, we can achieve this. - Mr. John Ogunsemore, Lagos * You can’t maximise the energy of youth without the basics. 63 million illiterate youths, according to UNESCO, is more than the population of South Africa. We must set up adult schools because they must know how to read and write and understand English, and after that, vocational schools. - Mr. Austine Nwanya, solid minerals consultant, Abuja * The Nigerian youth are the future of our nation, which starts today. Hence they cannot be ignored. Believing and investing in our youth through wholistic education and empowerment is fundamental to our national development. - Ms Nkeiruka Abanna, Lagos State
competent ones must be allowed to participate in all sectors as key drivers of social and economic progress. God bless Nigeria. - Mr. Ekpa, Stanley Ekpa, Author, ‘Writ of the Nigerian Dream’, Abuja * The average Nigerian youth is enterprising and creative. What they need is empowerment and enabling environment to operate. With this, they can make the difference and compete in the world space. God bless Nigeria youth. - Mr. Kingsley Oparah, Lagos
have clung to power even at senile age, while the youths are intentionally sidelined with jobs, education, health, infrastructure, food, housing e.t.c. kept beyond their reach. - Mr. Apeji Onesi, Lagos
* Since our top challenge is growing insecurity partly due to unemployment, we should recruit at least 100,000 youths from each state to serve as civilian JTF within their local governments of origin, to work closely with the overstretched army, police and civil defence corps. This would have a positive multiplier effect on the economy, all the way down to rural communities. - Mr. Buga Dunj, Jos, Plateau State
* Government must guarantee education at all levels, and employment without prejudice. The 1st Republic truly encouraged productivity, competitiveness and unlocked mineral resources in state and local government areas, unlike now. - Mr. Dogo Stephen, Kaduna State
* Give the youth quality education and provide for their basic needs through social intervention. Those that are qualified academically and technically should be encouraged to join the civil service to create that needed change. - Mr. Mark Ushie, Transcorp Hilton, Abuja
* Our unemployment rate is high because there are no people-oriented programmes to cushion the rate, while leaders lodge our money into foreign accounts. - Mrs. Ijeoma Nnorom, Lagos State
* Nigeria can enjoy its huge population when the youths are engaged in agriculture with government providing the enabling environment and funding for it to succeed. Government should revitalise all our industries, emulate China, and train our youths. - Pastor Ben Nwabuwe, Lagos State
* There must be a critical evaluation of the Nigerian Youth laws and policy that will provoke development, while existing institutions in the country should be strengthened to create equal opportunities in leadership roles. Capacity building of the youth should be built to spur industrialisation, development. - Mr. Michael Adedotun Oke, Founder, Michael Adedotun Oke Foundation, Federal Capital Territory, Abuja
* Youth is a transitory category. So it’s important to maximise the potentials and energy of our young people in technology, agriculture, industry and entertainment. If we harness this innovatively, our often sought self-reliance will be achieved. - Mr. Eze Nwangwu, Convener, Say No Campaign, Abuja
* For Nigeria to enjoy her large youth population, the nation has to industrialise. The service industry cannot absorb majority of the youths; thus strategic industrial policies are needed to engage the youths usefully. - Mr. Oluwapelumi Oyeniyi, Osogbo, Osun State
* With 63 million Nigerian youths God has given us viable human assets. If their potentials are properly harnessed, Nigeria would develop at a geometric rate across board. But our leaders
* Government must invest in human capacity and innovative education, with a system that gives equal opportunities and promotes creativity. When the youth are properly empowered, the
* Government should provide enabling environment for the youths to contribute their quota to national development. Youths with leadership skills should be given leadership positions to effect positive change. - Mr. Paul Jideofor, Dept of Languages, FCT COE Zuba, Abuja * Nigeria can enjoy youth advantage if it takes good interest in her youths who are the leaders of tomorrow and are above 70 per cent of the total population. Our youths are very energetic and we must allow them to lead while we follow to correct them. - Hon. Babale Maiungwa, U/Romi, Kaduna State * With resource at our disposal we don’t need to complain of unemployment in Nigeria, but the blame should go to our leaders for not
doing well in governance. - Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State * The way Nigeria can best enjoy her youth population is to invest in them. Provide easy and affordable education. Teach them skills and provide them access to basic health. That means budgets for education, health and ICT have to be expanded and adequately funded. What we have had is a situation of self help. Government is largely absent in the lives of youths. That’s a dangerous way to go. - Mr. Anonymous, Lagos State * Nigeria will benefit from her huge youth population when the leaders stop recycling old people and replace them with young, vibrant people with vision and global contacts, which will attract investments into the economy, and ensure growth plus reduced crime rate. - Mr. Nduanya Egbuna, Enugu State * Let the government increase mechanised farming and plantation agriculture with more food processing companies to take care of the expected abundant harvest. There should be incentives to lure youths back to agriculture. - Mr. Olumuyiwa Olorunsomo, Lagos State
Next Week: Can Insecurity Scenario Derail Nigeria’s Devt? ÖÞÒÙĂ&#x;Ă‘Ă’ ÞÒĂ? Ă—Ă?Ă˜Ă‹Ă?Ă? Ă™Ă? ÙÕÙ Ă‹ĂœĂ‹Ă— Ă“Ă˜Ă?Ă&#x;ĂœĂ‘Ă?Ă˜Ă?ĂŁ Ă’Ă‹Ă? ĂœĂ?ĂŽĂ&#x;Ă?Ă?ĂŽËœ ÞÒĂ? Ă?Ă&#x;ĂœĂœĂ?Ă˜Ăž Ă?ÚËÞĂ? Ă™Ă? ĂŽĂ‹Ă“Ă–ĂŁ Ă•Ă“Ă–Ă–Ă“Ă˜Ă‘Ă? Ă‹Ă?ĂœĂ™Ă?Ă? Ă?Ă?Ă Ă?ĂœĂ‹Ă– Ă?ÞËÞĂ?Ă? Ă’Ă‹Ă? Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă?ĂŽ Ă“Ă˜Ă?Ă?Ă?Ă&#x;ĂœĂ“ĂžĂŁ Ă“Ă˜ ÞÒĂ? Ă?Ă™Ă&#x;Ă˜ĂžĂœĂŁËœ ĂĄĂ’Ă“Ă?Ă’ Ă—Ă‹ĂŁ Ă‹ĘĽĂ?Ă?Ăž Ă“Ă˜Ă Ă?Ă?ĂžĂ™ĂœĂ?ËŞ Ă?Ă™Ă˜Ę¨ĂŽĂ?Ă˜Ă?Ă?Ë› Ă™ ĂŁĂ™Ă&#x;Ëœ Ă?Ă‹Ă˜ ÞÒĂ? Ă?Ă&#x;ĂœĂœĂ?Ă˜Ăž Ă“Ă˜Ă?Ă?Ă?Ă&#x;ĂœĂ“ĂžĂŁ Ă?Ă?Ă?Ă˜Ă‹ĂœĂ“Ă™ ĂŽĂ?ĂœĂ‹Ă“Ă– Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? ĂŽĂ?Ă Ă?ÖÙÚ×Ă?Ă˜Ăž ĂšĂœĂ™Ă?Ă?Ă?Ă? Ă™Ăœ Ă“Ă? ÞÒĂ? ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ă&#x;Ăš ÞÙ ÞÒĂ? ÞËĂ?Ă• Ă™Ă? Ă?Ă’Ă?Ă?Ă•Ă“Ă˜Ă‘ ÞÒĂ? Ă˜Ă?ÑËÞÓà Ă? ĂžĂœĂ?Ă˜ĂŽËŁ Ă–Ă?Ă‹Ă?Ă? Ă—Ă‹Ă•Ă? ĂŁĂ™Ă&#x;Ăœ ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă? ĂŽĂ“ĂœĂ?Ă?ĂžËœ Ă?Ă’Ă™ĂœĂž Ă‹Ă˜ĂŽ Ă?Ó×ÚÖĂ?Ëœ Ă‹Ă˜ĂŽ Ă?ÞËÞĂ? ĂŁĂ™Ă&#x;Ăœ Ă?Ă&#x;Ă–Ă– Ă˜Ă‹Ă—Ă?Ëœ ÞÓÞÖĂ?Ëœ Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă‹Ă˜ĂŽ Ă–Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜Ë› Ă?Ă?ĂšĂ™Ă˜Ă?Ă?Ă? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă?Ă?Ă˜Ăž ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÙÎËã Ě™ Ă‹ĂŁ Í” Ęś Ă™Ă˜ĂŽĂ‹ĂŁËœ Ă‹ĂŁ Í˜Ěš ÞÙ abimbolayi@yahoo. com, greatbimbo@gmail.comËœ abimbola.akosile@thisdaylive.comË› Ă?Ă?ĂšĂ™Ă˜ĂŽĂ?Ă˜ĂžĂ? Ă?Ă‹Ă˜ Ă‹Ă–Ă?Ă™ Ă?Ă?Ă˜ĂŽ Ă‹ Ă?Ă’Ă™ĂœĂž ĂžĂ?âÞ Ă—Ă?Ă?Ă?Ă‹Ă‘Ă? ÞÙ 08023117639 Ă‹Ă˜ĂŽËšĂ™Ăœ 08188361766 Ă‹Ă˜ĂŽËšĂ™Ăœ 08114495306Ë› ÙÖÖËÞĂ?ĂŽ ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă?Ă? ĂĄĂ“Ă–Ă– ĂŒĂ? ĂšĂ&#x;ĂŒĂ–Ă“Ă?Ă’Ă?ĂŽ Ă™Ă˜ Ă’Ă&#x;ĂœĂ?ĂŽĂ‹ĂŁËœ Ă‹ĂŁ Í’Í‘
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T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś
BUSINESSWORLD
DEVELOPMENT
Despite all, there is still dignity in labour
ETOP UKUTT
Deepen Extractive Sector Reforms, Assent Transmitted PIGB, Govt Urged Group wants illegal mining activities checked
Kasim Sumaina, Tayo Olaleye in Abuja and Bassey Inyang in Calabar A civil society organisation, the Civil Society Legislative Advocacy Centre, has urged the Federal Government to deepen its reforms in the extractive sector. President Muhammadu Buhari was also enjoined to urgently assent to the Petroleum Industry Governance Bill, which has been transmitted to his office by the National Assembly. CISLAC, which revealed that it had observed the state of affairs in the extractive sector in the past four months, stated that the reforms initiated by the present administration have been slow and are not deep enough.
The Executive Director, CISLAC, Auwal Ibrahim Musa aka Rafsanjani made the disclosure in Abuja recently, while briefing the press on the state of the vital sector in Nigeria. According to him, “We note the high expectations heralded by the anti-corruption stance of the government and numerous promises made during the electoral campaigns, including commitments to address corruption in the oil and gas sector through drastic reforms, plugging of leakages, passing of the Petroleum Industry Bill into law and implementing recommendations from the Nigeria Extractive Industries Transparency Initiative (NEITI) audit reports. “We observed that after three years in government,
most of these promises remain unfulfilled. We note some efforts made to reorganise the NNPC to make it more profitable, the efforts by the NNPC to become more open by publishing monthly transaction reports, the development and launching with so much fanfare of the 7 Big Wins and the review of the oil and gas policies, among several steps taken. These, though commendable, have not translated to real reforms.� Rafsanjani, represented by CISLAC Programme Manager, (Environment and Conservation of Nature) Kolawole Banwo, said, “We further observed that these efforts have not gone deep enough to create the changes and facilitate reforms badly needed in the sector. We further say that the
implementation is progressing at such slow speed that is at variance with the urgency needed in the sector.� Banwo also noted that, “Beyond the PIGB, other legislations which are critical for efficiency in the sector and touch on the interest of oil producing communities have remained elusive. “We also note that the NNPC, that is reported to have paid itself the sum of N216 billion in 2017 as subsidy or under-recovery captured as operational cost, cannot be said to have been reformed in any substantial way. It still continues to play the role of regulator and operator with its attendant challenges.� He explained that CISLAC further observed that several
of the specific commitments to the Open Government Partnership (OGP) such as information disclosure across the value chain of the sector, open contacting and beneficial ownership of oil licences, also remain elusive. “We therefore, urge the federal government to devote substantial part of its remaining time in the office, to expediting progress and deepening reforms in the extractive sector. “We call on the President to urgently assent to the PIGB that has been transmitted to his office by the National Assembly. This will strengthen governance and promote strong and independent regulation of the sector,� said Banwo. Meanwhile, the Council of Nigerian Mining Engineers and
Geoscientists (COMEG) has tasked the federal government to stop the activities of illegal miners in the country. The Council said the call was necessary in order to protect the environment, and the lives of Nigerians from such illegal mining, which is associated with quacks that have infiltrated the nation’s mining industry. President, Nigerian Mining and Geosciences Society, Prof. Silas Dada, made the call while speaking to journalists on the sidelines of a week-long professional development training on Water Well Drilling in Soft Rock Environment organised by COMEG and the Geocardinal Engineering Services Limited (GESL) held in Calabar, Cross River State recently.
Defence Ministry Cooperative Society to Increase FG Targets Increased Agric Output, Raids Fake Members’ Benefits Seeds’ Markets Nationwide Paul Obi in Abuja President, Ministry of Defence Staff Agricultural Cooperative Society, Mr. Isiak Gbadamosi, has tasked members to work hard as the cooperative increase members’ dividends and benefits. He also explained that there was urgent need to work toward the expansion of the MODACS’s capital base. Gbadamosi stated this at the society’s 6th Annual General Meeting (AGM) in Abuja recently, adding that, “there is need for every member to make meaningful inputs to the capital base. “There is a need for us to continuously expand the capital base of the cooperative and strengthen the cooperative,� he said. He stressed that “this was
the only way to make the cooperative society viable�, adding that “when you make solid investment, it would continuously bring money into the coffers of the society.� Gbadamosi observed that “since the establishment of the cooperative in November 2005, it had performed to the expectations of the current over 3,500 members.� The president added that the cooperative currently has a monthly turnover of over N50 million with assets in Jos, Osun and Abuja. He said the society had diversified its investment to include real estate and financial services. Gbadamosi said in 2017, the cooperative overhauled its membership expansion system by designing training and sensitisation programme to interact with members and
non-members outside Abuja. “Cooperatives thrive better with members’ participation which the executive committee has enjoyed from you,� he said. Also speaking, the Permanent Secretary, Ministry of Defence, Hajia Nuratu Batagarawa, tasked the members to be guided by principles of the cooperative and be focused. Batagarawa, who was represented by Mr. Yusuf Adepoju, called on the society to expand its capital base by investing in interest-yielding investment. The pioneer president of MODACS, Mohammed Zailani told journalists that the aim of forming the cooperative was to organise people through agricultural cooperative society. He expressed satisfaction with the level the cooperative society had attained.
Ademola Babalola in Ibadan The Federal Government is intensifying gains so far recorded in the agricultural sector, as it targets greater outputs in the annual turnover of farm produce in the country. To this end, government recently commenced raiding of fake seeds’ markets across the country, in an unprecedented manner targeted at making sure farmers reap bountifully, thus making farming more attractive to the huge population of unemployed Nigerian youths. The Director General of the National Agricultural Seeds Council (NASC), Philip Olusegun Ojo, who led the team to some markets in Ibadan, Oyo state capital, said the council began the operation from the North West geo-political zone
Fake rice and was now in the South West zone, to ensure that farmers are getting quality seeds for planting. Ojo, who was represented by the Director, Seeds Inspectorate, Mr. Adebayo Agboola said Nigeria was losing over N2 billion to fake seeds annually, and that the federal government has decided to bring the perpetrators to book. According to him, the council had confiscated fake seeds worth N1.5 million in the last two months, adding that the
fake seeds are injurious to the farmers and their workers. The areas visited by the team are: Iyana church, Monatan, Mokola, Ogunpa, Iwo Road, Moniya, which are all in Ibadan, the state capital. Agboola said the team was expected to tour Oyo state and other south-west states until the people behind the illegal business realise its implications and either stop such practice or face prosecution and possible jail terms. “The chemicals they are using to preserve the seeds are injurious to farmers and their labourers who are working in the farm. It affects total annual production of our farm produce. That is the reason the Federal Government is always frowning on the issue of fake seeds in circulation.�
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T H I S D AY Ëž THURSDAY MAY 3, 2018
THE ASSOCIATION OF SENIOR CIVIL SERVANTS OF NIGERIA (ASCSN) TO RESIST ATTEMPTS BY CABAL TO REINSTATE THE SUSPENDED DG OF SEC, MOUNIR GWARZO ILLEGALLY The Association of Senior Civil Servants of Nigeria has alleged plans by some elements of the cabal at the Presidency to reinstate the suspended Director General of the Securities and Exchange Commission (SEC).
According to Mr. Isaac Ojemhenke, the plan to proposed reinstatement of Mounir Gwarzo creates the impression that he is indispensable, yet the Commission has continued to function exceptionally well in his absence.
The body stated that feelers from the Presidency indicated that President Muhammadu Buhari has been under pressure by certain members of the cabal to recall Mr. Gwarzo who is currently on suspension for alleged corrupt practices.
The Union wishes to reiterate that the offences committed by Mr. Gwarzo are even more grievous than that of Mr. Babachir Lawal, the erstwhile Secretary to the Government of the Federation who was eventually relieved of his position by the Federal Government.
Recall that Mr. Gwarzo was suspended by the Honourable Minister of Finance after being indicted for financial improprieties and corruptly enriching himself, members of his family and cronies through the award of contracts to companies where he is a director.
It is therefore disturbing that the Federal Government has refused to act despite overwhelming evidence to the effect that Mr. Gwarzo illegally paid himself the sum of N105M as severance package and also awarded contracts to companies in which he is a director contrary to the provisions of the Public Service Rules and best practices which the SEC as a regulator is expected to promote within the Nigerian Capital Market space.
He equally wrongfully paid himself the sum of N105, 000,000.00 as severance package while still in the service of the Commission. This is a violation of the Public Service Rules. Severance benefits are paid to office holders (political and otherwise) at the point of disengagement from service. It is public knowledge that the reputable Administrative Panel of Inquiry set up by the Federal Government report found him guilty of illegally enriching himself at the expense of the Commission and was requested to refund same to the coffers of the Commission. This the House of Representative in their report equally upheld the suspension on the ground that Mr. Gwarzo has a case to answer. It was equally very glaring at the public hearing were he admitted that he collected the sum of N105M as severance package and equally agreed the he awarded contracts to companies were he is a director. Till date, Mr. Gwarzo has not refunded any money to the Commission and this is adversely affecting the Commission's operations. It is imperative to note that staff promotion in the Commission has been outstanding for three years due to lack of funds. Mr. Gwarzo should be compelled to refund the said monies to enable the Commission funds its operations. The ASCSN in a statement by its Federal Capital Territory Secretary, Mr. Isaac Ojemhenke stated that the alleged planned reinstatement of Mr. Gwarzo by the cabal will further dent the image of the anti-graft war of the APC led Government. Mounir Gwarzo has been quoted saying that if there is going to be an outcry, it will soon fizzle out just like the case of the NHIS Executive Secretary who was reinstated and heaven did not fall. He has equally boasted that he is a Fulani Man and he will be recalled back to office and nothing will happen. However, what the cabal does not seem to understand is that the impression being created in the minds of millions of Nigerians by this idea of recalling Chief Executives and other top government officials enmeshed in corrupt practices is that the war against corruption is a ruse.
The Capital Market as we are aware is very sensitive and thrives on integrity. It will be an unmitigated disaster to the Capital market and the Financial System as a whole if Mr. Gwarzo is recalled in the face of several allegations of corruption hanging over his head. The integrity of the Capital Market is vital to the growth of the Nigerian Economy and must be managed in an orderly and transparent manner to ensure investor confidence. Mr. Gwarzo's mission as the Director General of the Securities and Exchange Commission was to enrich himself in a manner fraught with recklessness, impunity and criminality with scant regard for the financial wellbeing of the Commission. The leadership of the Securities and Exchange Commission, the apex regulator of the Nigeria Capital Market, must maintain and be seen to maintain the highest standard of integrity as opposed to harboring individuals with character deficits like Mr. Gwarzo. The Union call on his excellency Muhammadu Buhari GCFR president, Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria to as a matter of urgency direct the report of the Administrative Panel of Inquiry be made public and also direct ICPC and EFCC to proceed on prosecution immediately to serve as deterrent. The labour union, hereby rejects in its entirety, the attempt being made from certain quarters to restore Mr. Gwarzo back to office and we will resist it and will not hesitate to deploy labour tools at its disposal should the cabals go ahead with this sinister plot to recall Mr Gwarzo. As union, we promise to continue to support the anti-graft war of the president. The Association of the Senior Civil Servant of Nigeria, equally use this opportunity to appeal to the President to as a matter of urgency, re-constitute the Board of the Securities and Exchange Commission.
Signed: ISAAC OJEMHENKE FCT Secretary, ASCSN
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T H I S D AY THURSDAY, MAY 3, 2018
HEALTH & LIFESTYLE
Acting Features Editor Charles Ajunwa Email: charles.ajunwa@thisdaylive.com
Adewole: We’re Working to End Health Sector Strike Soon The Minister of Health, Prof. Isaac Adewole, has been in the thick of the ongoing industrial action embarked upon by the Joint Health Sector Unions that are demanding a salary upgrade for the health workers, among others. In this interview with Senator Iroegbu, the minister explained why some of their demands are unrealistic What do you have to say about the allegation by JOHESU that you and Minister of Labour and Employment, Dr. Chris Ngige are discriminating against their members while favouring the NMA and NARD? That is not true, very untrue. This ministry is called the Ministry of Health, and except JOHESU wants to create another ministry. But that would require presidential approval which has not been done yet. So we have just Ministry of Health for all. So the Ministry of Health doesn’t discriminate? The ministry is for all. Health is beyond doctors, it has to do with the totality of the well-being of all Nigerians, and doctors are just part of the stakeholders. There are other stakeholders; nurses, physiotherapist, pharmacists, science laboratory technicians, radiographers, medical record officers, all of them. They are all working together, even nutritionists. We all work together to offer health services. Not just curative but preventive care, so it is beyond doctors. We do not discriminate against anyone. Are you saying that JOHESU leadership is not right to tag the Ministry of Health under your leadership as the ‘Ministry for Doctors’ which is intimidating other health workers? I don’t see us intimidating anybody. That will never happen under our beat, but we need to uphold the rule of law. In a situation where every worker has the right to go on strike, we can’t force people who think they want to go on strike not to, but we also recognise that health is an essential service. It is also like this even in labour law. We can’t really deny that health is on the essential list and our duty is to ensure that we continue to maintain service. That’s my position irrespective of who is on strike. I believe that the facility should continue to offer care to people in emergency situation. The hospital must never be closed even in war situations. That is my position and it did not start today. I was privileged to give a keynote address at the Nigerian Medical Association
Adewole
summit in 2013 in Asaba and I told the doctors clearly that on no account should hospitals close down. Emergency services must still continue to operate because every life counts. In essence, are you going to implement the “no work no pay” policy? It is the law of the land. It is not about me implementing it. It is a federal government directive.
One thing is clear, we will never support parity and I think we should put that up-front. There has never been any time in the history of this country when there was parity. We will be willing to support adjustment, but we will not support parity because it has never happened before independence, after independence and till date
What is your response to the allegation about double standard with regard to the recent circular directing doctors to keep record of the number of deaths within the striking period; something that was never done during the NMA strikes? The issues are to be clearly separated. We would never give circulars to doctors. We give circulars to the heads of institutions and we asked them to give daily report on whatever is going on in their facilities and of course what is going on in their facility will include: death, cases in admission, cases discharged, occupancy during the crises, among others, because we must be able to give account of what happened. This is not new; we have done it in the past. That is part of our normal responsibility as a ministry. We need to provide regular information to the government unbiased, untouched and truly as it is. Since health is one of the essentials because life is involved, what will happen when
both the secondary and primary healthcare institutions join the strike as being threatened by JOHESU? Health is one of the essentials in life. The secondary and primary healthcare institutions are not under us directly and so, I think this in the portfolio of governors and local government chairmen. They are the ones who can comment about the state of their healthcare system. I can only comment about federal health institutions. In order to save lives, can’t you engage them, negotiate with them, may be reach a compromise? We are looking into the issues comprehensively because that is the duty of government. It is under this administration that we even have anything close to an agreement. They have been negotiating with previous governments, but there was no agreement. It was when we met them, and they told us they had an agreement, that we told them there was no agreement. They had none, so the first tangible effort towards addressing their grievances came under this government and they should commend us for that. Hitherto, they had no agreement, they only had minutes of previous meetings which they tendered as agreement and I told them at one of the meetings that, that is not an agreement. So is there any hope the strike is ending
soon? Oh, the strike would end soon. We are addressing it comprehensively. There are quite a number of funny issues, and we want to make sure that we handle them comprehensively. We don’t want to end the strike only to face another one so we are looking at it comprehensively and in totality. As of yesterday, we still had a meeting under the authority of the Secretary to the Government of the Federation, so we are not resting and as you speak to me, another meeting of the technical group is on-going to look at all the issues. We are doing the costing, looking for money here there, calculating the cost implication to implement the salary adjustment, what are the expected fall-outs, what are the issues, and all that. We are addressing these in totality. In summary, what do you think is the government’s position, and what do you think should be the ideal outcome? One thing is clear, we will never support parity and I think we should put that up-front. There has never been any time in the history of this country when there was parity and we will never support parity. We will be willing to support adjustment, but we will never support parity because, it has never happened before independence, after independence till date there has never been parity between doctors and non-doctors.
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T H I S D AY THURSDAY, MAY 3, 2018
NEWS
Adewole:Malaria Remains a Major Public Health Problem in Nigeria Senator Iroegbu in Abuja The Minister of Health, Prof. Isaac Adewole, has said that despite the fact that a lot of progress has been made in the past few years, malaria still remain a major public health problem in Nigeria. Adewole stated this in Abuja at the commemoration of the 2018 World Malaria Day with the theme ‘Ready to Beat Malaria’, and the slogan ‘Together We Can’. He reminded that the celebration of the World Malaria Day dates back to the historic gathering of African Heads of State in 2000 where over 44 countries, bilateral and multilateral organisations who were in attendance, agreed on the target of halving the burden of malaria in Africa by year 2010, adopted the framework for monitoring progress and evaluating outcome. “It is indeed sad that malaria though preventable, still remains a major Public Health problem in Nigeria and constitutes a major barrier to social and economic development,” he said. The minister however, assured that the “Government is concerned about this and is working hard to improve the quality of care and increase access to anti-malaria commodities particularly amongst the poor. We are also working towards securing additional funding to close the existing commodity gap and move Nigeria towards elimination. “I must inform you that malaria control activities in the country are guided by the National Malaria Strategic Plan (NMSP: 2014-2020), which was recently reviewed to make it
more responsive to our vision of a malaria-free Nigeria.” He noted that the malaria epidemiology for Nigeria is changing; adding that a recent mapping by the “LINK Project” of The London School of Hygiene demonstrated a 50 per cent gradual shift from hyper and holo-endemic to meso-endemic pattern between 2000 and 2015. According to him, 92 per cent of the population now lives in areas with a prevalence rate of between five per cent and 39 per cent. He said this is similar to the results of the 2015 Nigeria Malaria Indicator Survey (NMIS) which showed a remarkable reduction in malaria prevalence from 42 per cent to 27 per cent which is a commendable stride in government’s efforts to stem malaria. Adewole also stated that the result of the 2015 NMIS showed that 69 per cent of households own at least one Insecticide Treated Net (ITN) and 35 per cent of households have at least one ITN for every two people who stayed in the house the previous night. He said: “In order to ensure continuous access to mosquito nets, government and partners embarked on replacement campaigns. In 2017 about 16,199,953 Long Lasting Insecticidal Nets (LLINs) were distributed in seven states - Sokoto, Edo, Kwara, Osun, Imo, Ondo and Adamawa. This year, we plan to distribute about 18.4 million nets in six states – Nassarawa, Ogun, Jigawa, Katsina, Gombe and Kebbi states. Nets are also being distributed through antenatal clinics for pregnant women and routine
NACA Calls for Implementation of HIV Workplace, AntiDiscrimination Law Martins Ifijeh As Nigeria joined the rest of the world to mark 2018 International Workers Day, the National Agency for the Control of AIDS (NACA), has called on employees and employers of labour to push for the implementation of National Workplace Policy on HIV/AIDS, HIV/AIDS AntiDiscrimination Act, and the National HIV/AIDS Stigma Reduction Strategy. In a statement made available to THISDAY, and signed by the Director General of NACA, Dr. Sani Aliyu, he said HIV response in Nigeria has been encumbered with cases of employment-related stigma and discrimination, which has continued to constitute a major threat to the goal of ending AIDS epidemic by 2030. He said: “The unequal treatment of workers based on their HIV status in the workplace is a clear breach of their right to gainful employment. A 2012 study of stigma among people living with HIV (PLHIV) in Nigeria showed that 26 per cent of those surveyed had lost a job or source of income in the past year due to HIVrelated stigma.
“Managing HIV workplace discrimination and strengthening compliance to statutory anti-discrimination laws by employers and employees alike is a critical element of the HIV/AIDS response in Nigeria. There is clearly a need to protect the rights of PLHIV while promoting access to HIV prevention, treatment, care and support within the workplace,” he noted. According to him, people living with HIV/AIDS have a fundamental right to work just like everybody else, adding that stigma and discrimination has become a potent threat that undermines opportunities for people to obtain decent employment. “As part of the long term goal of eliminating stigma and discrimination in the workplace, NACA continues to collaborate with the International Labour Organisation (ILO), the Federal Ministry of Labour and Employment and other partners to ensure that employers of labour are aware of and comply with the provisions of the National Workplace Policy on HIV/ AIDS (2013) and the National HIV/AIDS Anti-Discrimination Act (2014).
immunisation of children. It is common knowledge that a lot of the LLINs distributed are not used. In 2015 National Malaria Indicator Survey report showed that 37 per cent of the household slept under an LLIN the night before the survey. We are working
hard to ensure that net use increases considerably. “Indoor Residual Spraying (IRS) has been effective wherever it has been piloted for instance confirmed cases of malaria in Misau LGA in Bauchi State dropped from 14,949 to 4,819 (67.8 per
cent reduction) after the application of IRS intervention. However, less than one per cent of households in Nigeria are covered by IRS. May I use this medium to call on investor, donor and partners to support the intervention. I am glad to inform you that
Nigeria recently developed and printed the National Insecticide Resistance Management (IRM) plan to provide guidance and ensure effective monitoring, management of vector resistance and monitoring of quality vector control interventions.”
Minister of Health, Prof. Isaac Adewole (m); Chief Executive Officer, Nigeria Centre for Disease Control (NCDC), Dr. Chikwe Ihekweazu (3rd right); and other participants at the inauguration of the National Steering and Technical Committee of the Regional Disease Surveillance System Enhancement Project in Abuja recently
FG Bans Production of Cough Syrups Containing Codeine Martins Ifijeh Following an outcry over the abuse of opioids in Nigeria, the Federal Government has directed the National Agency for Food and Drug Administration and Control (NAFDAC), to ban with immediate effect further issuance of permits for the importation of codeine as active pharmaceutical ingredient for cough syrups. The Minister of Health, Prof Isaac Adewole, who gave the directive in Abuja recently, said the directive became necessary due to the gross abuse of Codeine usage in the country, adding that codeine containing cough
syrups should be replaced with dextromethorphan which is less addictive. He also directed the Pharmaceutical Council of Nigeria, (PCN) and NAFDAC to supervise the recall for labeling and audit trailing all codeine containing cough syrups in the country. Prof Adewole also banned sales of codeine containing cough syrup without prescription across the country. “We had an emergency meeting with NAFDAC and the Pharmaceutical Manufacturers Group (PMGMAN) to inform them that there is an embargo on all new applications for registration of codeine-containing cough
syrups as well as applications for renewal has been abolished. “NAFDAC was directed to fully regulate and control the manufacturing, distribution and sale of drugs, including inspection at points of entry of drugs, drug products and food for compliance with the new directive. “The Pharmacists Council of Nigeria (PCN) was also directed to continue enforcement activities on pharmacies, patent and proprietary medicine vendor’s shops and outlets throughout the country. He said the Federal Ministry of Health shall ensure collaboration among regulatory agencies namely, NAFDAC, PCN, National Drug Law
Enforcement Agency (NDLEA), Nursing and Midwifery Council of Nigeria (NMCN), for effective implementation of extant Acts, regulations, policies and guidelines on codeine control and usage. “Furthermore, these agencies shall work together to increase pharmacovigilance around codeine, tramadol and other related substances of abuse. Already, NAFDAC has developed IEC materials that will be used in an already planned national campaign against drug abuse, an awareness programme that includes Young Pharmacists Group of the Pharmaceutical Society of Nigeria. This will soon be flagged off in Kano and Lagos.”
WHO Calls for More Resources, Dexa Medica Holds Pain Free Cross Border Collaboration on Day in Fegge Community Malaria Free Africa Senator Iroegbu in Abuja The World Health Organisation (WHO) has called on African countries to allocate more resources and strengthen cross border collaboration to achieve a malaria free Africa. The WHO Country Representative in Nigeria, Dr. Wondi Alemu, made this call in Abuja while briefing journalists on the World Malaria Day 2018 with the theme: ‘Ready to Beat Malaria’. Alemu noted that the World Malaria Day is an occasion to renew political commitment and continuous investment for malaria prevention and control. The world malaria day is celebrated on April 25, focusing global attention on malaria and its devastating impact on
families, communities and development. He said: “We are calling on all African countries affected by malaria to work with development partners to boost investment in malaria prevention and control, especially new tools to combat malaria. “It will propel countries along the road to elimination to continue in contributing to the achievement of other sustainable development goals, such as improving maternal and child health.” The WHO Country Representative however, noted that countries in African region also recorded the biggest rise of malaria testing in the public sector from 36 per cent of suspected cases in 2010 to 87 per cent in 2016.
Martins Ifijeh As part of efforts to raise awareness on the benefits of boosting body immunity, a major pain killer company, Dexa Medica, makers of Boska with CHI pharmaceuticals has held its routine Pain Free Day initiative in Fegge community, Kano State recently. The event, which introduced Dexa’s immune booster, Stimuno, to members of the community, had over 1,000 participants who were educated on the benefits of having and maintaining a strong immune system. The Brand Executive, Dexa Medica, Joseph Christopher said from qualitative findings, it has been observed that consumers are faced with a lot of health challenges, ranging
from stress, recurrent infections such as frequent malaria attacks, diabetes, hypertension, kidney stone, liver damage, immuno-compromised disease such as HIV, tuberculosis that could be treated with Stimuno. “Community members have also used this opportunity to see health experts who have provided full range of health services for free. They gave out free eye glasses for those in need, as well as prescribed drugs to treat eye, ear and nose defects. They also gave out branded items and Stimuno brand to Fegge consumers. He said the event was specially designed to introduce Stimuno brand to consumers so that they can strengthen their immune system and avoid unnecessary breakdown.
T H I S D AY THURSDAY, MAY 3, 2018
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NEWS
Addressing the Malaria Scourge Olatokunbo Otitoju Malaria remains the most important public health parasitic disease and a major global health problem with the greatest burden in sub-Saharan Africa. It is so widespread that it is virtually impossible to come across any Nigerian who has never had malaria. According to the World Health Organisation (WHO), an estimated 445,000 people out of 216 million cases died from malaria in 2016; 90 per cent of this is accounted for by Africa. Malaria kills over half a million children less than five years of age each year. Nigeria accounts for 25 per cent of the world’s malaria burden. Its global burden is huge; accounting for more deaths than HIV/AIDS. Malaria is caused by the parasite Plasmodium. It is transmitted by a type of mosquito known as the Anopheles mosquitoes, which are a host to the parasite and transmit it to humans during a blood meal - when they bite humans. Human malaria is caused by different species of plasmodium: Plasmodium falciparum; Plasmodium malariae; Plasmodium ovale; Plasmodium vivax. Plasmodium falciparum is however the most prevalent in sub-Saharan Africa, accounting for 99 per cent of estimated malaria cases in 2016. The common symptoms of malaria – headache, chills, and fever are mild and are not just specific to malaria; this sometimes makes it difficult to be recognised as malaria. These symptoms can however become dreadful, leading to the severe or complicated form of malaria. Prompt diagnosis and treatment of malaria are necessary to prevent a mild case of malaria from progressing to the severe form. Although anyone can be affected, children under five
and pregnant women are the most vulnerable; and because of this, preventive treatment in pregnancy with the anti-malarial drug sulfadoxine pyrimethamine is recommended by WHO to protect pregnant women. This drug is administered during routine ante natal visits. As huge as the malaria burden is, there is poor awareness of its magnitude. The high cost of healthcare also impacts this, as having to go to the clinic often may become a financial burden. The current most effective anti-malaria drug used to treat the uncomplicated form, is the artemisinin combination therapy (ACT). It contains artemisinin and a partner drug, the cost of which can be expensive for low income families since malaria is a disease that reoccurs often. Even though it is wide spread, it is preventable; one of the key strategies to prevent malaria is vector (mosquito) control. Mosquitoes breed on stagnant water, and so by removing stagnant water from the immediate environment, vectors are effectively controlled. Discarded tyres, untended pools, and any container that could hold stagnant water are possible breeding grounds for mosquito. Bushes and weeds near the home are resting sites for mosquitoes. General sanitary practices such as maintaining a hygienic drainage system, clean environments, proper waste disposal, removal of stagnant water, are effective ways of controlling the vector, mosquito. The use of insecticide treated nets and indoor spraying with insecticides are popular measures for vector control. The major problems in the control of malaria are: resistance of malaria parasites to drugs and insecticides, proliferation of counterfeit drugs; self-management, inadequate
Kantar Nigeria, Non-Such Lead Fight against Malaria To mark this year’s World Malaria Day, themed ‘Ready to Beat Malaria’, Kantar Nigeria and Non-Such Health Management Organisation (HMO) have collaborated to target more than 1,000 Nigerians in the fight against malaria. The Managing Director, Kantar Nigeria, Aggrey Maposa said achieving a malaria-free society has been the core of Kantar’ corporate social responsibility agenda, noting that in 2017, all Kantar Brands, in partnership with Rotary International and Non-Such HMO, impacted the lives of Nigerians through awareness campaigns on malaria prevention, eradication and health education while distributing Long Lasting Insecticide Treated Nets (LLIN) and malaria medication. The 2018 two-day programme to mark the day kicked off with an awareness drive to sensitise Nigerians about malaria and its prevention. “The awareness drive equally sought to drive home the benefits of a malaria-free society, its prevention and control,”
Maposa said. The commemoration was also an opportunity for the organisations to provide free malaria testing, distribution of treated mosquito nets and free drugs to participants. The event recorded a huge turnout of staff drawn from all Kantar brands in Nigeria and volunteers, amounting to about 1,000 persons. This number includes 300 pregnant women, 200 nursing mothers, and 200 children under the age of five. Kantars and Non-Such distributed at least 500 LLITN to the participants. Some of the volunteers on the day include Director, Kantar Public Nigeria, Mariam Fagbemi, Executive Director, Kantar TNS Nigeria, Eddington Danda, Managing Director, Kantar Millward Brown Nigeria, Ugo Geri–Robert, Account Director, FINTECH Research, Fikayo Aremu, Director, Kantar World Panel Nigeria, Augustina Umunna, Head of Clinical Services, Non-Such Medicare Ltd, Dr. Gerald Ezeani, among others.
A malaria-causing mosquito
health facilities, inadequate local research efforts and poor health practices by individuals and communities. Healthcare can be expensive, besides that, falling sick exerts both financial and social burden. It also affects productivity.
About N132 billion is lost annually due to malaria – cost of treatment, cost of malaria various malaria program, manpower and productive time loss. Having a health insurance cover is a sure way to reduce
out of pocket expenses and reduce financial burden of treatment. Health insurance coverage for the family could also offer preventive treatments during vaccinations and ante natal visits. Easy and affordable access to healthcare promotes prompt diagnosis and treatment, and these are important measures to reduce mortality from this disease. One of the ways to get this cover and tackle various diseases, including malaria, is through AXA Mansard Health’s EasyCare, which is a retail health insurance plan offering rare combination of affordability, convenience, flexibility and quality healthcare for as low as N12,000.
The fight to reduce the malaria burden is on. Nigeria has made significant progress in the battle against malaria, mortality rates among children under five years has reduced by 18 per cent, while infection rates declined by 15 per cent. We have a global target to reduce the global disease burden of malaria by 40 per cent by 2020, and by at least 90 per cent by 2030. For Nigeria to be free from the scourge of this epidemic, commitment and participation from every member of the society is necessary. Otitoju is of AXA Mansard Health Limited, and writes from Lagos
L-R: Principal, Oshodi Junior High School, Mrs. Rafiat Ogunbiyi; Vice Principal, Oshodi Junior High School, Mrs Adenike Ojo; First Prize Winner, Ravimal End Malaria for Good, Sanni Khadijat; Teacher, Oshodi Junior High School, Mrs Victoria Anjorin; and Project Coordinator, Miral Pharm Ltd, Mrs Ifeyinwa Ugo-Amadi, during award presentation at OJHS to mark World Malaria Day in Lagos recently
Miral Pharm Calls for Ravimal Essay Series II,Partners PSN, YPG Martins Ifijeh Miral Pharm Ltd, an indigenous pharmaceutical company has affirmed its commitment to malaria eradication in Nigeria with the call for Ravimal Essay Series 2, an initiative aimed at ending malaria for good. Speaking at a press conference to announce the call for entry of the essay competition in Lagos, Pharmaceutical Society of Nigeria (PSN) President, Ahmed Ibrahim Yakasai, said the essay was open to all Pharmacy students in Nigerian universities and all young practicing pharmacists. According to him the prizes to be won include N500, 000 for the first prize, N300, 000 for the second prize and N200, 000 for the third prize winner. Also, Dean of any Pharmacy School with the highest number of participants and Dean of the Pharmacy school that produced the winner will have the privilege of going home with N500, 000 each. Consolation prizes will also be won. He expressed delight at the tripartite partnership with Miral Pharm Ltd, the Pharmaceutical Society of Nigeria and the Young Pharmacists Group at mobilising young pharmacists and pharmacy students to write on the topic ‘Ready to Beat Malaria: Challenges and Opportunities’. He said to enter the competition; participants are required to
register and submit essays at www.miralpharm.com/ essay, adding that the registration and submission is expected to end on Monday, June 25, 2018. Speaking on the need for total eradication of malaria from the continent, Yakasai decried the fact that the $37 million given by global funds for the provision of mosquito nets was not to be invested in the country as these nets were imported from outside the country. This, he said, is a challenge to manufacturers. He called for government and manufacturers to seriously engage in research and development as a measure to eradication malaria scourge. In his opening address, the Managing Director, Miral
Pharm Ltd , Pharm. Onyeka Onyeibor stated that he is hopeful that the essays will uncover actionable research interests and as such, Miral Pharm is favourably disposed to supporting such research efforts. He noted that through the ‘Ravimal Essay Competition Project’, Miral Pharm Ltd intends to encourage thinking and improve expressions amongst young people as well as contribute knowledge to the nation’s research base. ‘’At Miral Pharm, we value people, excellence, courage and goodness thus; we are committed to encouraging people to be the best they can be. We take pride in investing in the lives of the next generation by empowering them with
what they need to take on this stride,” Onyeka stated. He noted that according to the World Health Organisation estimated report about 3.4 billion people live in areas with high risk for the transmission of malaria. Also reports have it that Nigeria accounts for the highest proportions of malaria cases and deaths all over the world. This is far from the expectation of the World Health Organisation in the eradication of malaria. In the process of elimination of malaria, preelimination stage is expected to observe less than 1 case per 1000 persons. Achieving this great feat in the eradication of malaria involves a conscious effort that requires research and collaborations.
T H I S D AY ˾ THURSDAY MAY 3, 2018
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T H I S D AY ˞ ˜ MAY 3, 2018
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BUSINESS/MONEYGUIDE
Fidelity Bank Makes 50% Provision on 9Mobile Loan Obinna Chima åÓÞÒ Ă‹Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂž Fidelity Bank Plc disclosed that it has increased its provision against indebted telecoms firm, 9mobile to 50 per cent. This is just as the commercial bank said it is considering issuing local debt to raise funds to boost lending. Reuters quoted Fidelity’s Chief Operations and Information Officer, Gbolahan Joshua, to have disclosed this yesterday. He said Fidelity had placed indebted telecoms firm 9mobile on a watchlist and increased provisioning on its N17.3 billion loan to the company to 50 per cent. In October, it said it had taken only a five per cent impairment charge against 9mobile. Formerly Etisalat Nigeria, 9mobile is Nigeria’s fourth largest telecoms provider. It took out a $1.2 billion syndicated loan
from Fidelity and 12 other local banks in 2013 but failed to make repayments last year. It is now up for sale. Joshua said Fidelity Bank expected 9mobile’s sale to new investors to be concluded by the second half of the year, by which time the exact loss on the loan would be known. “By first half of 2018, the 9mobile sale may have been completed and there would be clarity for all lenders. “We’ve made 50 percent (provision) on the exposure to 9mobile, we don’t expect that by the time the sale would be concluded we would see another classification,� he was quoted to have told an analysts’ call. Joshua said if the bank took a 100 percent provision on loans to 9mobile it would amount to less than 40 percent of its 2017 annual profits and it would be able to generate sufficient earnings to continue its business.
Domestic bond market conditions are favourable as analysts expectthat the Central Bank of Nigeriacould start to cut interest rates in coming months as inflation falls, while the government is shifting towards borrowing overseas to cut yields at home. Joshua said the mid-tier lender could look to the local funding market this year after it raised a $400 million Eurobond in October to refinance existing debt and boost lending. According to him, the bank would target the consumer goods sector, manufacturing and retailers, aiming to boost total loans this year by between 7.5 per cent and 10 percent, up from seven per cent growth last year. Joshua said the mid-tier lender decided to maintain a conservative payout ratio after the regulator introduced a stricter accounting standard which affects capital ratios.
Nnamdi Okonkwo
MARKET INDICATORS
ABCON Seeks Greater Role in FG’s Economic Recovery Drive
MONEY AND CREDIT STATISTICS
ČŠ ČąÂ’Â—Â“ÂŽÂŒÂ?ÂœČąÂŠÂ?Â?Â’Â?Â’Â˜Â—ÂŠÂ•ČąÇžĹ˜Ĺ—Ĺ–Â–ČąÂ’Â—Â?Â˜Čą ȹ–Š›”ŽÂ? The Association of Bureau De Change Operators of Nigeria (ABCON) has called for the support of federal government to its sub-sector in order to enhance its contribution to the ongoing drive to stimulate economic growth. According to ABCON, in India, the BDCs generate over $30 billion from the Diaspora remittances, adding that in the United Arab Emirates, the entire banking needs of banks are met by the BDCs. The President of ABCON, Alhaji Aminu Gwadabe, who said this in Lagos yesterday, during the launch ofwww.naijabdcs. com, a new website that was developed by the association to deliver real-time forex rates, also argued that the Lebanon economy is highly dependent on the activities of BDCs in that country. “We can also achieve higher revenues from BDCs in Nigeria if the government gives us all the necessary support,â€? he said. According to the ABCON boss, the BDC sector is confronted with
many challenges such as multiple exchange rate, abnormal bank charges, Value Added Tax (VAT) and Commission on Turnover (COT), parallel market operators and illegal International Money Transfer Operators (IMTOs), porous international boarders, complex documentation requirements and poor capacity/ skills of operators. He added: “The increasing difficulties arising from over regulation and complex documentation requirements that licensed BDC operators are facing in carrying out their daily legitimate operation remain worrisome. “These hitches have negative impact on BDCs’ efforts toward compliance to statutory and regulatory requirements. “For instance, six units within the CBN are involved with BDC regulations, supervision, licensing, monitoring, saying these constitute multiple regulation of a unit of the financial subsector that is only involved as a small market player. “A BDC operator is expected to render
daily, monthly, quarterly, half yearly and annual returns to these various departments of the same corporate body, which could be very cumbersome, repetitive and time consuming for both the operator and the regulator. “In addition to the above, the BDC is also under obligation to render same returns to the Economic and Financial Crimes Commission /Nigeria Financial Intelligence Unit, while at the same time reporting to other statutory government establishments, including the Federal Inland Revenue Service and Corporate Affairs Commission respectively.� Gwadabe also reiterated his appeal to the CBN to take urgent steps to review the rate at which dollar is sold to BDCs in order to boost ongoing recovery of the naira against dollar. He said ABCON decided to develop the website because a lot of Nigerians and businesses had endured the publication of subjective news in the industry through channels whose sources could be trusted.
Broad Money (M2)
21,851,454.31
-- Narrow Money (M1)
9,890,813.10
---- Currency Outside Banks
1,523,239.91
---- Demand Deposits
8,367,573.19
-- Quasi Money
11,960,641.22
Net Foreign Assets (NFA)
9,732,990.89
Net Domestic Assets(NDA)
12,118,463.42
-- Net Domestic Credit (NDC)
26,821,446.81
---- Credit to Government (Net)
4,824,226.22
---- Memo: Credit to Govt. (Net) less FMA
7,834,536.74
---- Memo: Fed. and Mirror Accounts (FMA)
--3,010,310.52
---- Credit to Private Sector (CPS)
21,997,220.59
--Other Assets Net
--14,702,983.39
Reserve Money (Base Money)
5,486,804.65
--Currency in Circulation
1,868,735.07
--Banks Reserves
3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
Money Market Indicators (in Percentage) Month
August 2017
Inter-Bank Call Rate
22.63
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Jaiz Bank Unfolds Five-year Devt Plan
Treasury Bill Rate
13.35
Ndubuisi Francis Ă“Ă˜ ĂŒĂ&#x;ÔË
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
Jaiz Bank Plc has unveiled a five-year development strategy (2018 – 2022) designed to help it to attain its mission and vision. As the premier non-interest financial institution in Nigeria, the Managing Director/CEO, Hassan Usman said the bank is repositioning to make life better through ethical finance with a view to emerging the clear leader in ethical banking in sub-Saharan Africa. According to him, the bank has initiated a defined five-year (2018 – 2022) Corporate Strategy to help transform and attain “this set mission and vision. Usman, who spoke at the unveiling of Jaiz Bank’s modern training centre in Zaria, Kaduna State, said the centre would provide manpower training on non-interest (Islamic) banking
and finance. A statement released by Idris Ahmed of the Corporate Communications department, said Usman, who was represented by his deputy, Mahe Abubakar at the event stated that at the heart of this new strategy was the positioning of the bank to become a lead player by the year 2022. “In line with this, a set of strategic objectives have also been defined, with various projects identified and ongoing, and which are targeted at enabling us to achieve our goals. “As a bank with focus, “our transformational strategies cuts across projects for which we have engaged various consultants, some of these projects are at the closing stage, while some others are just kick starting,� Usman said. He added that “these changes
are intended to bring about efficiency and effectiveness, while building the desired trust with our customers.� Some of the projects include a new internet banking platform which will be rolled out to customers soon, reopening of Jaiz MasterCard to customers intending to do foreign transactions, the upgrade of the bank’s IT infrastructure, banking Application to the latest IMAL version 14, and deployment of a robust credit facility solution to facilitate a seamless, automated, and swift credit facility process for both the retail and corporate banking customers. Other areas the bank is currently working on are the introduction of agency banking model, aggressive drive of financial inclusion programmes, and the MSME models.
(MILLION NAIRA)
AUGUST 2017
Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ
OPEC DAILY BASKET PRICE AS AT TUESDAY MAY 1, 2018
The price of OPEC basket of fourteen crudes stood at $70.60 a barrel on Tuesday, compared with $71.01 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
41
T H I S D AY Ëž Ëœ ÍąËœ Í°ÍŽÍŻÍś
MARKET NEWS
Nestle Nigeria Records Marginal Growth in First Quarter ProďŹ t After Tax Goddy Egene Nestle Nigeria Plc yesterday announced its financial results for the first quarter (Q1) ended March 31, 2018, showing a marginal growth in performance indications. The company, which recorded a jump of 325 per cent in profit after tax (PAT) for the 2017 financial year , has started 2018 on a slow note as PAT for Q1 rose by a marginal three
per cent. Details of the results showed gross revenue of N67.5 billion in Q1 of 2018, up by 10.7 per cent from N37.7 billion in the corresponding period of 2017. Cost of sales went up by 10.7 per cent from N37.7 billion to N41.7 billion. Profit before tax fell by 4.5 per cent from N14.3 billion to N13.6 billion. A reduction of 15 per cent in tax from N5.9 billion in 2017 to N5.0 billion in 2018, made the company to end the
P R I C E S MAIN BOARD
F O R DEALS
Q1 with higher profit. Specifically, Nestle Nigeria’s PAT stood at N8.6 billion in 2018, up from N8.4 billion in the corresponding period of 2017. Gross profit margin fell from 38.4 per cent to 38.2 per cent, while net profit margin reduced from 13.7 per cent to 12.8 per cent in 2018. Market operators said if Nestle Nigeria would be unable to improve its performance in the remaining three quarters,
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
it might end the year with lower bottom-line. The company recommended a total dividend of N33.687 billion or N42.50 per share for the 2017 full year, which represented 99 per cent profit after tax of N33.724 billion recorded for the year. Nestle Nigeria Plc had reported gross revenue of N244.2 billion in 2017, up 34.2 per cent, from N181.9 billion recorded in 2016.Net finance costs fell by 46.8 per cent from N16.7 billion to N8.9 billion.
T R A D E D MAIN BOARD
A S
Profit before tax settled at N46.8 billion, showing a growth of 117 per cent compared with N21.5 billion recorded in 2016. Profit after tax grew faster by 325 per cent from N7.9 billion to N33.7 billion in 2017. Commenting on the 2017 results, Nestle Nigeria had attributed improved performance to multiple factors such as continued loyalty and trust of its consumers in its brands, the dedication of its people and the efficiency of its distribution
O F
network. “In line with our strategic roadmap, we will continue to invest behind brands and route-to-market activities while proactively managing input cost pressures to stay on the growth path. We will continue delivering value to our shareholders with our commitment to provide high quality nutritious products to meet the needs and preference of our consumers,� the company said.
0 3 / 0 5 / 2 0 1 8 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
˾ THURSDAY, MAY 3, 2018
42
Nigeria Daily Stock Market Report: dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ^ŚĞĚƐ ϵďƉƐ
THISDAY AFRINVEST 40 INDEX
dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ƐŚĞĚ ϵďƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϭϳϯϴ͘ϳϮ ƉŽŝŶƚƐ ǁŚŝůĞ ƚŚĞ zd ƌĞƚƵƌŶ ŵŽĚĞƌĂƚĞĚ ƚŽ ϭϮ͘ϳй͘ zĞƐƚĞƌĚĂLJ͛Ɛ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ůŽƐƐĞƐ ŝŶ 'h Z Edz ;ͲϬ͘ϭйͿ͕ E/' Z/ E Z t Z/ ^ ;Ͳ Ϭ͘ϳйͿ ĂŶĚ E ^d> ;Ͳϭ͘ϴйͿ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƟŶŐ ĨŽƌ ϯϱ͘ϴй ŽĨ ƚŚĞ ŝŶĚĞdž͘
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ƵƉ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ůĞĚ ŐĂŝŶĞƌƐ ƵƉ ϭ͘Ϯй ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ ϭϭW> ;нϵ͘ϲйͿ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ƚƌĂŝůĞĚ ĂƐ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ h E ;нϰ͘ϬйͿ ĂŶĚ h ;нϭ͘ϯйͿ ĚƌŽǀĞ ƚŚĞ ŝŶĚĞdž ŚŝŐŚĞƌ ďLJ Ϭ͘ϲй ǁŚŝůĞ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ E' D ;нϬ͘ϴйͿ ƉƵƐŚĞĚ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ŶŽƌƚŚǁĂƌĚƐ ďLJ Ϭ͘ϯй͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ůĞĚ ůĂŐŐĂƌĚƐ ĂƐ ůŽƐƐĞƐ ŝŶ E ^d> ;Ͳϭ͘ϴйͿ ĂŶĚ E/' Z/ E Z t Z/ ^ ;ͲϬ͘ϳйͿ ĚƌĂŐŐĞĚ ƚŚĞ ŝŶĚĞdž ůŽǁĞƌ ďLJ ϭ͘ϭй͘ dŚĞ ŝŶƐƵƌĂŶĐĞ ŝŶĚĞdž ĂůƐŽ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ ůŽƐŝŶŐ ϱϵďƉƐ ĂƐ ƐĞůůͲŽīƐ ŝŶ KEd/E^hZ ;ͲϮ͘ϲйͿ ĂŶĚ t W/ ;Ͳϯ͘ϲйͿ ƉƵůůĞĚ ƚŚĞ ŝŶĚĞdž ƐŽƵƚŚǁĂƌĚƐ͘
-0.09% -0.1%
73.9%
21.3%
7.7%
8.1x
1.0x
4.7%
11.7%
21.0%
10.3%
10.9%
32.6%
5.2%
7.3x
2.5x
6.0%
13.7%
12.4%
7.6%
6.4%
26.3%
3.6%
4.6x
1.2x
9.8%
21.7%
3
Nigerian Brew eries PLC
129.00
-0.7%
7.7%
-4.4%
-4.5%
17.4%
8.3%
32.3x
5.5x
3.2%
3.1%
4
Nestle Nigeria PLC
1,570.00
-1.8%
7.2%
0.9%
0.9%
73.3%
18.9%
36.6x
23.3x
2.7%
2.7%
5
Dangote Cement PLC
247.90
0.8%
5.9%
7.8%
7.8%
22.7%
12.0%
21.4x
5.0x
4.2%
4.7%
-1.6%
11.3%
6
FBN Holdings Plc
12.30
6.8%
39.8%
39.9%
6.7%
0.8%
8.9x
0.7x
2.0%
7
Access Bank PLC
11.30
0.9%
4.3%
8.1%
6.6%
12.7%
1.5%
5.6x
0.7x
5.8%
18.0%
8
United Bank for Africa PLC
11.70
1.3%
4.4%
13.6%
12.4%
15.9%
1.9%
5.2x
0.8x
7.3%
19.3%
9
Ecobank Transnational Inc
10
SEPLAT Petroleum Development C
11
20.10
0.0%
3.5%
18.2%
23.5%
-14.6%
-1.3%
6.7x
0.7x
3.0%
15.0%
765.00
0.0%
3.3%
22.2%
22.2%
22.3%
13.2%
3.9x
0.8x
2.3%
25.5%
Stanbic IBTC Holdings PLC
49.50
0.0%
3.1%
19.3%
21.0%
28.9%
3.8%
9.4x
2.7x
1.0%
10.7%
12
Unilever Nigeria PLC
54.90
0.0%
3.0%
33.9%
36.5%
19.2%
8.0%
29.4x
4.0x
0.9%
3.4%
13
Guinness Nigeria PLC
103.00
0.0%
2.2%
9.6%
9.6%
15.4%
6.1%
19.6x
2.6x
0.6%
5.1%
14
Lafarge Africa PLC
42.00
0.0%
1.4%
-6.4%
-6.4%
-36.8%
-7.7%
2.3x
3.6%
-14.7%
15
Fidelity Bank PLC
2.55
0.0%
1.2%
3.7%
-1.2%
8.0%
1.1%
2.1x
0.4x
4.3%
47.4%
16
Oando PLC
9.15
0.0%
1.8%
52.8%
52.8%
9.4%
1.4%
11.4x
0.6x
17
Dangote Sugar Refinery PLC
20.00
-2.4%
1.0%
0.0%
-1.8%
43.2%
19.8%
7.8x
3.0x
12.5%
12.8%
18
Okomu Oil Palm PLC
77.50
0.0%
1.1%
14.5%
14.5%
39.7%
29.4%
7.7x
2.6x
3.9%
12.9%
19
International Brew eries PLC
51.80
0.0%
0.7%
-5.0%
-5.8%
24.6%
7.4%
54.2x
12.3x
20
Flour Mills of Nigeria PLC
34.50
0.0%
0.7%
19.0%
19.0%
13.1%
3.0%
7.2x
0.8x
2.7%
13.9%
21
Transnational Corp of Nigeria
22
UAC of Nigeria PLC
23
Diamond Bank PLC
8.8%
1.8%
1.68
-1.2%
0.6%
15.1%
13.5%
11.2%
2.5%
10.3x
1.1x
1.2%
9.7%
17.15
-0.3%
0.5%
1.5%
1.5%
2.2%
0.8%
27.8x
0.6x
3.8%
3.6%
2.06
2.0%
0.6%
37.3%
31.2%
2.5%
0.3%
8.3x
0.2x
222.20
0.0%
0.5%
-3.4%
-3.4%
31.0%
6.5%
10.7x
2.7x
7.7%
9.3%
2.58
4.5%
0.7%
63.3%
5.1%
0.8%
4.9x
0.3x
3.9%
20.4%
191.50
9.6%
0.4%
-1.6%
-1.6%
30.8%
11.0%
6.9x
2.5x
0.0%
0.4%
4.0%
7.6%
17.6%
1.6%
24.4x
3.8x
10.7%
5.0%
21.3x
2.2x
12.0%
14.6%
27
Forte Oil PLC
45.20
28
PZ Cussons Nigeria PLC
22.50
0.0%
0.4%
9.2%
6.4%
29
Cadbury Nigeria PLC
13.15
-4.7%
0.3%
-16.1%
-15.7%
2.0%
0.8%
61.4x
2.1x
1.2%
1.6%
30
Presco PLC
70.00
1.0%
0.3%
2.2%
2.2%
39.7%
28.0%
2.8x
0.9x
2.9%
36.3%
31
NASCON Allied Industries PLC
20.25
0.0%
0.3%
9.5%
5.4%
54.6%
19.5%
9.6x
4.7x
7.4%
10.5%
32
UPDC Real Estate Investment Tr
10.00
0.0%
0.3%
0.0%
0.0%
0.8x
7.2%
33
Union Bank of Nigeria PLC
6.50
4.0%
0.3%
-16.7%
-13.4%
5.6%
1.2%
8.3x
0.4x
34
Julius Berger Nigeria PLC
28.05
0.0%
0.3%
0.2%
0.2%
17.3%
1.8%
7.8x
1.2x
4.1% 2.2%
4.7%
12.0% 3.5%
12.9%
35
Sterling Bank PLC
1.63
1.2%
0.3%
50.9%
44.2%
9.0%
0.9%
4.9x
0.5x
1.2%
20.5%
36
Dangote Flour Mills Plc
12.05
-9.4%
0.2%
-0.8%
-0.8%
61.6%
15.8%
3.9x
1.7x
1.7%
25.7%
37
GlaxoSmithKline Consumer Niger
24.00
0.0%
0.2%
11.1%
11.1%
61.2%
23.6%
37.9x
1.8x
32.3%
2.6%
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
79.25
0.0%
0.2%
54.5%
54.5%
18.4%
11.9%
11.2x
1.9x
1.4%
9.0%
40
Transcorp Hotels Plc
7.45
0.0%
0.1%
3.3%
3.3%
5.3%
2.9%
19.5x
1.0x
1.7%
5.1%
T o p 10 G a ine r s
T o p 10 T r a d e s b y V o l u m e
T ic k er
P ric e
P ric e C hg %
Vo lum e
P ric e C hg %
M OB IL
191.50
9.6%
GUA R A N T Y
67.4
0.6%
WEM A B A N K
0.92
9.5%
F ID ELIT YB K
14.9
-1.6%
C ILEA SIN G
1.66
9.2%
FB NH
14.7
1.6%
UN IT YB N K
1.05
5.0%
J A P A ULOIL
12.9
3.8%
C OUR T VILLE
0.22
4.8%
FCM B
10.3
-0.8%
NP FM CRFB K
1.86
4.5%
Z EN IT H B A N K
9.1
0.2%
FCM B
2.58
4.5%
UB A
8.2
-0.4%
UB N
6.50
4.0%
SOVR EN IN S
7.6
-4.3%
LIVEST OC K
0.80
3.9%
A C C ESS
7.2
0.0%
R OYA LEX
0.30
3.4%
SKYEB A N K
6.5
5.2%
P ric e
P ric e C hg %
T ic k er
Value
P ric e C hg %
D A N GF LOUR
12.05
-9.4%
D A N GC EM
2110.7
0.8%
C A D B UR Y
13.15
-4.7%
GUA R A N T Y
1899.5
-0.1% 0.5%
T ic k er
T o p 10 T r a d e s b y V a l u e
T o p 10 L o s e r s T ic k er
P R EST IGE
0.49
-3.9%
Z EN IT H B A N K
832.4
WA P IC
0.53
-3.6%
UB A
610.9
1.3%
N IGER IN S
0.29
-3.3%
N EST LE
388.5
-1.8%
H M A R KIN S
0.33
-2.9%
NB
180.2
-0.7%
C ON T IN SUR E
1.52
-2.6%
D A N GF LOUR
121.7
-9.4%
D A N GSUGA R
20.00
-2.4%
FB NH
119.6
-1.6%
2.65
-1.9%
M OB IL
87.9
9.6%
1570.00
-1.8%
D A N GSUGA R
69.1
-2.4%
M A YB A KER N EST LE
(RC 603 315)
12.7%
Divinden Earnings d Yield Yield
0.5%
(A Dealing Member of the Nigerian Stock Exchange)
P/BV
27.60
11 PLC
Afrinvest Securities Limited
P/E
Guaranty Trust Bank PLC
26
/Ŷ ŝƚƐ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ ƌĞůĞĂƐĞĚ ĞĂƌůŝĞƌ͕ ƚŚĞ ĂŶŬ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ƌĂƚŚĞƌ ƵŶĚĞƌǁŚĞůŵŝŶŐ͘ 'ƌŽƐƐ ĞĂƌŶŝŶŐƐ ƌŽƐĞ ϭϱ͘ϲй zͲŽͲz ƚŽ EϭϬϵ͘ϱďŶ ŝŶ ϵD͗ϮϬϭϳ͕ ƐƵƉƉŽƌƚĞĚ ďLJ Ă ϮϮ͘ϰй zͲŽͲz ŝŶĐƌĞĂƐĞ ŝŶ ŝŶƚĞƌĞƐƚ ŝŶĐŽŵĞ ;ĨƌŽŵ EϳϮ͘ϯďŶ ϵD͗ϮϬϭϲ ƚŽ Eϴϴ͘ϱďŶ ϵD͗ϮϬϭϳͿ͘ ŽŶƚƌĂƌLJ ƚŽ ƚŚĞ ŐƌŽǁƚŚ ƌĞĐŽƌĚĞĚ ŝŶ ŝŶƚĞƌĞƐƚ ŝŶĐŽŵĞ͕ ŶŽŶͲŝŶƚĞƌĞƐƚ ŝŶĐŽŵĞ ƵŶĚĞƌƉĞƌĨŽƌŵĞĚ͕ ĨĂůůŝŶŐ ϲ͘ϯй ƚŽ EϮϭ͘ϬďŶ ŝŶ ϵD͗ϮϬϭϳ ;ĨƌŽŵ EϮϮ͘ϱďŶ ŝŶ ϵD͗ϮϬϭϲͿ͘ dŚĞ 'ƌŽǁƚŚ ŝŶ ŝŶƚĞƌĞƐƚ ŝŶĐŽŵĞ ǁĂƐ ĚƌŝǀĞŶ ďLJ Ă Ϯϲ͘ϯй ƵƉƟĐŬ ŝŶ ůŽĂŶƐ ĂŶĚ ĂĚǀĂŶĐĞƐ ĂƐ ǁĞůů ĂƐ ĂŶ ŝŶĐƌĞĂƐĞ ŝŶ ŝŶƚĞƌĞƐƚ ĨƌŽŵ dƌĞĂƐƵƌLJ ŝůůƐ ;ƵƉ ϮϬ͘Ϭй zͲŽͲz ƚŽ EϮϭ͘ϵďŶͿ͘ DĞĂŶǁŚŝůĞ͕ ƚŚĞ ĂŶŬ͛Ɛ ŶŽŶͲŝŶƚĞƌĞƐƚ ŝŶĐŽŵĞ ǁĂƐ ĚƌĂŐŐĞĚ ďLJ Ϯϭ͘ϲй ĚĞĐůŝŶĞ ŝŶ KƚŚĞƌ ŽƉĞƌĂƟŶŐ ŝŶĐŽŵĞ ĂƐ ǁĞůů ĂƐ Ă ϵϴ͘Ϯй ĚŝƉ ŝŶ ĞͲ ďƵƐŝŶĞƐƐ ŝŶĐŽŵĞ ǁŚŝĐŚ ĨĞůů ϲϭ͘ϱй ƚŽ EϬ͘ϳďŶ ĂƐ ĂƌĚ &y ŐĂŝŶ ƌĞĚƵĐĞĚ ĨƌŽŵ Eϭ͘ϰďŶ ŝŶ ϵD͗ϮϬϭϲ ƚŽ EϮϱ͘Ϭŵ ŝŶ ϵD͗ϮϬϭϳ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ŽƉĞƌĂƟŶŐ ĞdžƉĞŶƐĞƐ ŐƌĞǁ ϭϬ͘ϭй zͲŽͲz ƚŽ Eϰϵ͘ϬďŶ ĨƌŽŵ Eϰϰ͘ϲďŶ ŝŶ ϵD͗ϮϬϭϲ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ W d ĂŶĚ W d ĨĞůů Ϯ͘ϭй ĂŶĚ ϰ͘ϲй ƚŽ Eϭϯ͘ϬďŶ ĂŶĚ EϭϮ͘ϰďŶ ƌĞƐƉĞĐƟǀĞůLJ ŝŶ ϵD͗ϮϬϭϳ͘
ROA
Zenith Bank PLC
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ĨƌŽŵ ϭ͘ϭdž ƚŽ ϭ͘ϱdž ĂƐ Ϯϯ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ϭϱ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ŐĂŝŶĞƌƐ ĨŽƌ LJĞƐƚĞƌĚĂLJ ǁĞƌĞ ϭϭW> ;нϵ͘ϲйͿ͕ t D ;нϵ͘ϱйͿ ĂŶĚ /> ^/E' ;нϵ͘ϮйͿ ǁŚŝůĞ E'&>KhZ ;Ͳϵ͘ϰйͿ͕ hZz ;Ͳϰ͘ϳйͿ ĂŶĚ WZ ^d/' ;Ͳϯ͘ϵйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘ tĞ ŵĂŝŶƚĂŝŶ ŽƵƌ ďƵůůŝƐŚ ŵĞĚŝƵŵ ƚĞƌŵ ŽƵƚůŽŽŬ ĂƐ ĂƩƌĂĐƟǀĞ ĞŶƚƌLJ ŽƉƉŽƌƚƵŶŝƟĞƐ ĐŽŶƟŶƵĞ ƚŽ ƐƵƌĨĂĐĞ ŝŶ ƚŚĞ ŵĂƌŬĞƚ͘
hŶŝŽŶ ĂŶŬ ŽĨ EŝŐĞƌŝĂ WůĐ ;͞hŶŝŽŶ͟ Žƌ ͞ƚŚĞ ĂŶŬ͟Ϳ ďĞŐĂŶ ŽƉĞƌĂƟŽŶƐ ŝŶ ϭϵϭϳ ĂŶĚ ƌĞĐĞŶƚůLJ ĐĞůĞďƌĂƚĞĚ ŝƚƐ ϭϬϬƚŚ ĂŶŶŝǀĞƌƐĂƌLJ ǁŚŝůĞ ĂĚŽƉƟŶŐ ƚŚĞ ƐůŽŐĂŶ ŽĨ ͞zŽƵƌ ^ŝŵƉůĞƌ ĂŶĚ ^ŵĂƌƚĞƌ ĂŶŬ͘͟ KŶ ƌĞĂĐŚŝŶŐ ŝƚƐ ϭϬϬƚŚ ĂŶŶŝǀĞƌƐĂƌLJ ƚŚĞ ĂŶŬ͛Ɛ ŵĂŝŶ ĨŽĐƵƐ ǁĂƐ ƚŽ ͞ ĞůĞďƌĂƚĞ͕ /ŵƉĂĐƚ ĂŶĚ >ĞĂĚ͟ ǁŚŝůĞ ĞdžƉĂŶĚŝŶŐ ŝƚƐ ƉƌŽĚƵĐƚ ƉŽƌƞŽůŝŽ͘ dŚĞ 'ƌŽƵƉ ĐƵƌƌĞŶƚůLJ ĐŽŶƐŝƐƚƐ ŽĨ hŶŝŽŶ ĂŶŬ ŽĨ EŝŐĞƌŝĂ WůĐ ĂŶĚ hŶŝŽŶ ĂŶŬ h< WůĐ ĂŌĞƌ ĞŵďĂƌŬŝŶŐ ŽŶ Ă ƐĂůĞ ŽĨ ŝƚƐ ƐƵďƐŝĚŝĂƌŝĞƐ ŝŶ ϮϬϭϰ ŝŶ ŽƌĚĞƌ ƚŽ ĨŽĐƵƐ ŽŶ ĐŽƌĞ ďĂŶŬŝŶŐ͘ /Ŷ ϮϬϭϲ͕ ƐŚĂƌĞŚŽůĚĞƌƐ ŽĨ hŶŝŽŶ ďĂŶŬ ĂƵƚŚŽƌŝnjĞĚ ƚŚĞ ďĂŶŬ ƚŽ ƌĂŝƐĞ ƵƉ ƚŽ EϱϬ͘ϬďŶ ǀŝĂ Ă ƌŝŐŚƚƐ ŝƐƐƵĞ͘ hŶŝŽŶ ŝƐ ĐƵƌƌĞŶƚůLJ ƌĂƚĞĚ ͞ ͟ ďLJ &ŝƚĐŚ ƌĂƟŶŐƐ͘
ROE
1
FCMB Group Plc
ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ hŶŝŽŶ ĂŶŬ ŽĨ EŝŐĞƌŝĂ WůĐ ;h EͿ
Price Change Index to Date
2
25
Price Change YTD
44.95
Total Nigeria PLC
Previous Current Price Weighting Change
THISDAY AFRINVEST 40 1,738.72
24
/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ
Current Price
Ticker
>ŽĐĂů ŽƵƌƐĞ džƚĞŶĚƐ WŽƐŝƟǀĞ ZƵŶ͙ E^ ^/ ƵƉ ϵďƉƐ dŚĞ ůŽĐĂů ďŽƵƌƐĞ LJĞƐƚĞƌĚĂLJ͕ ĞdžƚĞŶĚĞĚ ŝƚƐ ƉŽƐŝƟǀĞ ƌƵŶ ƚŽ ƚŚĞ ƚŚŝƌĚ ƐĞƐƐŝŽŶ Ͳ ůĂƌŐĞůLJ ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E' D Ͳ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ŐĂŝŶĞĚ ϵďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϰϭ͕ϯϬϲ͘ϬϮ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ƌŽƐĞ ƚŽ ϴ͘Ϭй͘ džͲ E' D͕ ŵĂƌŬĞƚ ǁŽƵůĚ ŚĂǀĞ ĐůŽƐĞĚ ĚŽǁŶ ϴϱďƉƐ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŝŶǀĞƐƚŽƌƐ ǁĞĂůƚŚ ŝŶĐƌĞĂƐĞĚ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ƌŽƐĞ ďLJ Eϭϯ͘ϳďŶ ƚŽ ĐůŽƐĞ Ăƚ Eϭϰ͘ϵƚŶ͘ KƚŚĞƌ ĚƌŝǀĞƌƐ ŽĨ LJĞƐƚĞƌĚĂLJΖƐ ƉĞƌĨŽƌŵĂŶĐĞ ǁĞƌĞ h E ;нϰ͘ϬйͿ͕ ϭϭW> ;нϵ͘ϲйͿ ĂŶĚ h ;нϭ͘ϯйͿ͘ ĐƟǀŝƚLJ ůĞǀĞů͕ ŚŽǁĞǀĞƌ͕ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ ϯϴ͘ϳй ƚŽ Ϯϳϲ͘Ϯŵ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƚƌĞŶĚĞĚ ƵƉ ϯϴ͘ϵй ƚŽ Eϲ͘ϵďŶ͘ zĞƐƚĞƌĚĂLJ͛Ɛ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬ ďLJ ǀŽůƵŵĞ ǁĞƌĞ h ;ϱϮ͘ϯŵͿ͕ 'h Z Edz ;ϰϮ͘ϯŵͿ ĂŶĚ E/d, ;ϯϬ͘ϭŵͿ ǁŚŝůĞ E' D ;EϮ͘ϭďŶͿ͕ 'h Z Edz ;Eϭ͘ϵďŶͿ ĂŶĚ E/d, ;EϴϯϮ͘ϰŵͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘
Thursday, May 3, 2018
Investment Research
Brokerage Ayodeji Ebo | aebo@afrinvest.com
Robert Omotunde | romotunde@afrinvest.com
Bolaji Fajenyo | bfajenyo@afrinvest.com
Omotola Abimbola | oabimbola@afrinvest.com
43
˾ THURSDAY, MAY 3, 2018
MARKET NEWS
FCMB Group Plc to Boost Earnings through Diversification Goddy Egene The Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun has said its diversification strategy would boost its earnings and deliver high returns to shareholders. Balogun stated this at the fifth annual general meeting (AGM) of the company in Lagos. According to him, the successful acquisition of majority (88.2 per cent) stake in Legacy Pension Managers Limited will go a long way to help achieve further diversification of service
offerings and consequent earnings within the FCMB Group. He said: “We see significant growth opportunities in the Pension management industry in Nigeria as it is yet to achieve maturity and will support and facilitate strategic organic and inorganic growth initiatives that will position Legacy in the top-tier of its industry over the next few years.’’ Speaking on the performance of First City Monument Bank Limited, the commercial and retail banking member of
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
FCMB Group Plc, Balogun said: “It showed signs of improvement with growth in income levels (after adjusting for exceptional FX revaluation income in 2016), reduction in impairment charges and substantial growth in our UK business and consumer finance business (CDL), after a difficult 2016. Commercial and retail banking remains our largest group, contributing 76.2 per cent of profits and 98.5 per cent of total assets.’’ He disclosed that the investment banking
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 30Apr-2018, unless otherwise stated.
arm exhibited improved performance, from a loss position in 2016 of N84.0million after tax to a profit of N430.3million after tax in 2017, largely driven by CSL Stockbrokers Limited. “Our stockbroking business remains a top-three player in its sector and participated as the sell-side broker on the largest ever trade on the Nigeria Stock Exchange in December 2017. CSLS Stockbrokers Limited and FCMB Capital Markets Limited jointly accounted for 4.1 per cent of profits,’’ he said.
In his address, Chairman of FCMB Group Plc, Mr. Oladipupo Jadesimi said the company recorded a gross revenue of N169.9 billion and a profit before tax (PBT) of N11.5billion, while profit after tax (PAT) was N9.4billion. According to him, deposits grew to N689.9billion as at the end of December 2017, an increase of five per cent, from N657.6billion in the previous year, while capital adequacy ratio improved to 16.9 per cent from 16.7 per cent, just as asset base increased to N1.19trillion,
compared to N1.17trillion at the end of 2016. “ FCMB Group Plc was on a stronger pedestal and would continue to provide superior performance that would add significant value to stakeholders in a sustainable manner in spite of the challenging macroeconomic and regulatory environments. We will continue to shore up the capital of the bank through profit retention in preparation for the growth opportunities that we expect as the economy recovers,” Jadesimi added.
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 194.33 195.49 9.46% Nigeria International Debt Fund 244.88 246.07 6.11% 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 4.75% ACAP Income Funds 0.66 0.66 9.48% 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 14.00% 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 160.22 161.02 5.51% AXA Mansard Money Market Fund 1.00 1.00 13.75% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.91% Paramount Equity Fund 12.16 12.47 9.66% Women's Investment Fund 103.92 106.58 3.27% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 15.29% CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 13.73% Coronation Balanced Fund 1.13 1.15 7.84% Coronation Fixed Income Fund 1.10 1.13 6.37% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Heritage Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A FBN Nigeria Smart Beta Equity Fund N/A N/A N/A 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 1.41 1.44 8.04% Legacy Debt Fund 3.01 3.01 4.44% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,210.03 3,243.16 7.51% Coral Income Fund 2,589.20 2,589.20 5.82% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A 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 13.85% Vantage Balanced Fund 2.21 2.24 4.82% Vantage Guaranteed Income Fund 1.00 1.00 15.62% Kedari Investment Fund (KIF) 120.22 120.64 4.55%
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 3.15% Lotus Halal Fixed Income Fund 1,051.80 1,051.80 4.41% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.36 11.89% PACAM Fixed Income Fund 11.67 11.73 5.74% PACAM Money Market Fund 10.00 10.00 13.39% 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 132.10 134.66 2.66% 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 5.24% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,404.48 2,425.32 7.22% Stanbic IBTC Bond Fund 184.78 184.78 4.72% Stanbic IBTC Ethical Fund 1.09 1.10 8.42% Stanbic IBTC Guaranteed Investment Fund 233.08 233.15 5.84% Stanbic IBTC Iman Fund 190.45 192.45 6.30% Stanbic IBTC Money Market Fund 100.00 100.00 13.79% Stanbic IBTC Nigerian Equity Fund 10,373.91 10,517.20 7.29% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 2.55% 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 1.35 1.36 0.76% United Capital Bond Fund 1.65 1.65 5.63% United Capital Equity Fund 0.98 1.00 7.47% United Capital Money Market Fund 1.00 1.00 13.02% United Capital Eurobond Fund 105.56 105.56 2.59% United Capital Wealth for Women Fund 1.14 1.15 4.79% 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 13.45 13.65 7.26% Zenith Ethical Fund 20.02 20.02 49.84% Zenith Income Fund 13.98 14.14 -25.42% Zenith Money Market Fund 1.00 1.00 13.05%
REITS NAV Per Share
Yield / T-Rtn
10.00 134.83
-11.35% 1.79%
Bid Price
Offer Price
Yield / T-Rtn
12.70 161.79 120.93
12.80 165.21 123.15
4.75% 13.27% 10.67%
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
5.18 10.01 19.16 20.68 160.22
5.22 10.09 19.26 20.88 162.22
9.19% 4.57% 7.87% 5.10% 7.79%
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
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50 YEARS Gone But Still FRESH In Our HEARTS!
MR SONUME ROGERS HALLIDAY M A R C H 3 1 S T 1 9 2 1 - M AY 3 R D 1 9 6 8 . RIDLEY ROGERS-HALLIDAY for the family.
T H I S D AY ˾ THURSDAY MAY 3, 2018
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THURSDAY, MAY 3, 2018˾ T H I S D AY
INTERNATIONAL
email:foreigndesk@thisdaylive.com
Mueller ‘Threatened Trump with Subpoena’ amid Russia Probe Special Counsel Robert Mueller warned he could order Donald Trump to testify as part of a probe into alleged Russian election meddling, BBC reported US media as reporting. Mr Mueller suggested the move during talks with Mr Trump’s lawyers in March. The threat to issue a subpoena,
as it is known, was reportedly met with a sharp response from one of Mr Trump’s former lawyers. It is believed to be the first time the special counsel has raised such a possibility. Mr Trump’s lawyers insisted during the meeting that the president was under no obligation to face questions by federal
Basque Separatist Group ETA Says Has ‘Completely Dissolved’ – El Diario Website Basque separatist group ETA has completely dismantled all its structures, ending a 50-year guerrilla campaign, Reuters reported the organisation as saying in a letter dated April 16 and published by online newspaper El Diario on Wednesday. The group had been expected to announce its final dissolution later this week, after its ultimately unsuccessful drive for an independent state in northern Spain and southern France that killed around 850 people. “ETA has completely dissolved all its structures and ended its political initiative,” said the letter, which El Diario said had
been sent to several Basque organisations. ETA (Euskadi Ta Askatasuna, or Basque Country and Freedom) declared a ceasefire in 2011 and handed over weapons in April 2017, bringing Western Europe’s last major armed insurgency to a close. These decisions were aimed at “shaking off the situation of the last decades and building a future from a new starting point,”ETA said in the letter published on Wednesday. Anger in the Basque region of northern Spain over political and cultural repression under the dictatorship of General Francisco Franco prompted the founding of ETA in 1959.
investigators in relation to the Russia inquiry, the Washington Post reported. However, Mr Mueller’s team reportedly responded by suggesting they would issue a subpoena if Mr Trump declined. They agreed to provide the president’s lawyers with more specific information about the questions they wished to ask Mr Trump. The president’s former lawyer, John Dowd, has also said that Mr Mueller mentioned the possibility of forcing Mr Trump to face questions.
Mr Dowd, who resigned about a week and a half after the meeting, said he told investigators that the probe was not “some game”, adding:“You are screwing with the work of the president of the United States.” The list of possible questions has since been published in the NewYork Times, and it reportedly covers the president’s motivations in dismissing former FBI director James Comey last May and his campaign’s contacts with Russia. Mr Trump repeated his claim that the Russia inquiry is a“witch hunt” on Wednesday.
The US president himself has said he is willing to speak to Mr Mueller, but CNN reports that his enthusiasm has cooled after the offices of his personal attorney were raided. The network cites sources close to Mr Trump as saying they are yet to make a recommendation about whether he agrees to an interview with Mr Mueller. Some advisers reportedly believe Mr Mueller would not go so far as to issue a subpoena. If one was issued, Mr Trump’s lawyers could fight it in court, or he could refuse to answer questions
by pleading the Fifth Amendment, a constitutional protection against potential self-incrimination. Prominent US lawyer, Alan Dershowitz, who has expressed support for Mr Trump in his legal battles, advised against the US president speaking to the special counsel. “The strategy is to throw him softballs so that he will go on and on with his answers,”he told the Washington Post. “Instead of sharp questions designed to elicit yes or no, they make him feel very comfortable and let him ramble.”
IS Suicide Attack on Libya Election Commission Kills 12 Suicide bombers stormed Libya’s electoral commission in Tripoli on Wednesday, killing at least a dozen people in an attack claimed by the Islamic State jihadist group, Agence France-Presse reported. The bloodshed comes as Libya prepares for elections later this year, seeking to recover from the turmoil that has plagued the North African country since the 2011 ouster of dictator Moamer Kadhafi. Two armed assailants attacked the electoral commission building on Wednesday morning, shooting guards and officials before
blowing themselves up, Interior Minister Abdelsalam Ashour told a news conference. The internationally backed Government of National Accord (GNA) said it was dealing with “the consequences of the cowardly suicide attack”, after the health ministry said at least 12 people were killed and seven wounded. The interior ministry said two policemen were among those killed. Security forces have since brought the situation under control, officials said, while the
site has been sealed off. Eyewitnesses earlier said shots and at least two explosions were heard, while black smoke could be seen rising from the commission headquarters. The Islamic State group (IS) said it carried out the attack in a statement via its propaganda agency Amaq. The United Nations mission in Libya condemned the“terrorist attack”and said it extended“its condolences to the families of the victims who lost their lives”. “Such terrorist attacks will not deter Libyans from mov-
ing forward in the process of consolidating national unity and building the state of law and institutions,” it said on Twitter. The UN is hoping that Libya can hold elections this year as it seeks to leave behind years of chaos since Kadhafi’s overthrow. UN special envoy Ghassan Salame said in February he was aiming for parliamentary and presidential elections in the North African country by the end of 2018, but warned conditions were not yet ready for polling.
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NEWS
Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081
FG Approves N99bn for Repair of Third Mainland Bridge, Others
Says bridge in critical condition FEC raises ministerial committee to inspect East-West road Omololu OgunmadĂ? Ă“Ă˜ ĂŒĂ&#x;ÔË The federal government yesterday in Abuja approved
N99.01 billion for the repair of Third Mainland Bridge in Lagos as well as section two on the Lagos-Ibadan expressway,
Senator Nwaoboshi Writes Senate on EFCC Arrest Maintains innocence over N322m fraud allegation Damilola Oyedele Ă“Ă˜ ĂŒĂ&#x;ÔË Senator Peter Nwaoboshi (Delta PDP) has written to the Senate over his ordeal with the Economic and Financial Crimes Commission (EFCC), maintaining that he is innocent of the N322 million fraud allegations levelled against him. Nwaoboshi was recently arraigned before the Federal High Court in Lagos for offences bordering on money laundering and conspiracy. Two firms; Golden Touch Construction Project Limited and Suiming Electricals Limited, were also arraigned after the antigraft commission accused them of aiding the senator for money laundering and fraud. In his letter read by Senate President, Bukola Saraki, at plenary yesterday, Nwaoboshi said he would not be intimidated by the EFCC. “As a lawyer, I am conscious of the fact that the matter is now in court and therefore subjudice.
I am no longer at liberty to say anything that will be prejudicial to the trial of the case. “However, I want to assure my colleagues that I have not done anything that would have justified or necessitated the humiliation I was subjected to (even), as a serving senator of this country. This rollback to the dark days of military rule must not be allowed to go on under a democratic dispensation,� he said. “This Senate must rise up and challenge the forces and agents of oppression, tyranny and subjugation. I want to assure this eighth senate of which I am a p r o u d m e mber, that I refuse to be cowed or intimidated by anyone. I am confident that I will have my day in court and justice will surely prevail,� Nwaoboshi added. The senator also expressed appreciation to his colleagues for their support.
among others. Briefing journalists at the end of over eight hours weekly Federal Executive Council (FEC) meeting in the State House, presided over by Vice President Yemi Osinbajo, Minister of Power, Works and Housing, Mr. Babatunde Fashola, said the Third Mainland Bridge contract was awarded to an Italian firm, Borini Prono, at the cost of N18.87 billion. Yesterday’s FEC meeting which was the longest in recent times, began at about 11a.m. and ended at about 7p.m. The minister who put the duration of the repair at 27 months, added that the
contractors would repair 33 of a total of 177 piles that make up the bridge. Fashola, who said the bridge was in a critical condition, noted that the repair would include what he described as the maintenance of general expansion joint replacement. According to him, 19 piles on the bridge were in critical conditions while 44 piles were less critical, adding that the budget for the repair of the bridge was captured in the 2017 Appropriation Act. He also said FEC approved N80.199billion as revised budgets for the second section of 84 kilometres on the
Lagos-Ibadan expressway as well as another N38.03 billion for the repair of Orikam road in Enugu State. “Recall that federal government initially approved N96.304 billion for the LagosIbadan road project. With yesterday’s approval by FEC, the project has been revised to N176.50billion. “FEC also approved N38.034 billion for the construction of the 9th Mile-Orikam road in Enugu State which is 72kilometers. About N10billion is to be drawn from the Ecological Fund to fund the project,� he said. Fashola also said the council approved
N2.54billion for the redesign and construction of Ikire bridge in Osun State. In another development, FEC constituted a fourman ministerial committee headed by the Minister of Transportation, Rotimi Amaechi, to inspect the condition of the East-West road. According to Amaechi, the proposed inspection is aimed at ensuring the speedy completion of the road in the Niger Delta. He listed members of the ministerial committee to include the Minister of Information, Lai Mohammed, Minister of Niger Delta, Usani Nguru Usani and Fashola.
Dokpesi’s US Visa Revoked over Looters’ List IS THIS SENATE? Inspector General of Police (IG), Ibrahim Kpotun-Idris, during a courtesy visit on Kaduna State Governor, Nasir El-Rufai, to assess the The founder of DAAR Communications, Raymond Dokpesi, has said the United States has revoked his visa after he was accused of looting Nigeria’s treasury. The Minister of Information and Culture, Lai Mohammed, had listed Dokpesi, among other chieftains of the Peoples Democratic Party (PDP), as those who looted public funds. The media mogul is currently standing trial for allegedly receiving N2.1 billion from the office of the national security adviser (ONSA). On Monday, Dokpesi dragged Mohammed to the FCT High Court over the publication, seeking payment of N5billion damages for “defamation of character.� He had earlier written the minister, threatening the lawsuit if his name is not retracted from the list. In the suit filed by Mike Ozekhome, Dokpesi’s counsel, the PDP chieftain said the US Embassy in Nigeria notified him of the withdrawal of his visa on March 16. He said the embassy told him it was withdrawn because the federal government
included his name on a ‘looters list’ it (the government) purportedly submitted to it. TheCable is yet to confirm if the federal government forwarded the list to the embassy as Mohammed was yet to respond to enquiries when this report was filed. “The defendants’ defamatory publications are malicious and calculated to overreach and prejudice my fair trial and for purposes of stampeding and cowing the court to convict me at all cost by agreeing with the defendants’ skewed position,â€? Dokpesi said in the suit. The PDP chieftain asked the court to compel Mohammed to publish a retraction and an apology to him in various media platforms. He also prayed for a perpetual injunction restraining the defendants — including Abubakar Malami, attorney-general of the federation — or their agents from further making “any defamatory publicationâ€? against him, requesting N50million as penalty for such. No date has been fixed for hearing on the suit.Â
security situation of the state....yesterday
Obasanjo Denies Supporting Buhari’s Second Term Bid Says even a moron knows president has failed Ejiofor Alike Former President Olusegun Obasanjo has denied supporting the second term bid of President Muhammadu Buhari, saying that his position remains as stated in his January 23, 2018 statement on the state of the nation. Obasanjo said in a statement issued yesterday by his media representative, Mr. Kehinde Adeyemi, that he would not endorse failure and sympathised with what he described as the plight of Buhari’s second term campaigners and his supporters. He added that it had come to his attention that some elements in Buhari’s camp and or support group were desperate to secure a second term, “fair or foul�. “In this desperation, everything is fair, including telling libelous lies against
persons and institutions, instead of addressing the fundamental issues of statecraft and economic management,� he said. The former president added that in the last 24 hours, the internet has been bombarded with deliberate falsehoods aimed at hoodwinking the unsuspecting Nigerians to believe that he has now supported Buhari for his second term because of some perceived Buhari’s ‘superlative’ performance in his encounter with Trump during his visit to the White House in Washington DC. “In another breath, these blackmailers insinuated that Obasanjo met with some Nigeria Labour Congress leaders in his house in Abuja on workers’ Day. What a pathetic fallacy! Obasanjo never met any Labour man or woman on May 1, 2018
to make any supposed volte face to support Buhari. Furthermore, neither was Obasanjo in Abuja on that date nor does he own a house in Abuja. Any time he visits Abuja, he usually stays in a Guest House or hotel,� Obasanjo said. He further stated that he does not believe dishing out fake news that can only be believed by imbeciles, who would turn black into white. “Nigerians know that Obasanjo has only spoken the truth about widening poverty, alienation and social disunity and near disintegration of the country through Buhari’s incompetence. Obasanjo will continue to exercise his right to free speech and no amount of hate speech will assuage Nigerians who are in need of a brand new leadership. The
mediocre performance of Buhari cannot be described by anybody as ‘superlative’ even by morons not the least President Obasanjo,� Obasanjo explained. “From the Buhari-Trump meeting, Obasanjo only saw through three points:  One, the US will continue to reduce purchase of crude oil from Nigeria and there is nothing Nigeria under Buhari can do about; two, the US will export agricultural products to Nigeria and Buhari’s government will encourage that; and three – all the killings taking place in Nigeria by herdsmen are being done by expatriates trained by Gadaffi and no Nigerian is to blame and Buhari cannot do anything to stop it,� Obasanjo
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NEWS
Economic Challenges, Anti-Competition Shrinking Number of Telcos in Nigeria NCC moves to address industry challenges
Emma Okonji The economic challenges and anti-competition practices plaguing the telecoms industry have forced 19 companies to close shop, telecoms operators have revealed. There were 35 operators about 15 years ago, but the number has shrunk to 16 as a result of the challenges. To address the situation, Nigeria Communication Commission (NCC) at a stakeholders forum on the study of the level of competition in the telecoms industry, yesterday commissioned a study that will address the situation. President of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, said it was disturbing and painful that the number of telecoms operators continued to shrink. Adebayo who decried the last few years of the liberalisation of the sector, said: “W were 35 active members, but as I am speaking with you, we are only left with 16 members.
We have supposedly lost the rest to economic challenges, anti-competition, multiple taxation, vandalism and theft, among others.” Adebayo called on governments at all levels to see telecoms as infrastructure of infrastructure, which “if allowed to collapse, every other sectors of the economy would be impacted greatly and negatively.” Earlier at the meeting, NCC Director of Commission and Economic Analysis, Josephine Amuwa, noted that the Commission would ensure that the sector is well protected against economic challenges capable of stunting the sector’s growth. On the theme of the meeting, Amuwa said the overall objective of the study was to provide current insight into the level of competition in the telecommunications market and articulate strategies/ recommendations to enhance opportunities in the market and to ensure the deepening of competition resulting in the
provision of innovative services to consumers. According to her, it is an established fact that competitive markets are the cornerstone of a vibrant telecommunications industry as it encourages innovations and fosters efficiency. “In recognition of this fact, the commission periodically conducts studies to assess the level of competition in the industry in line with its mandate of creating an enabling environment for competition amongst operators in the industry as well as ensuring the provision of qualitative and efficient telecommunications services throughout the country,” she stated. She recalled that the commission in the exercise
of its regulatory functions as provided for under the Nigerian Communication Act (NCA), 2003, engaged the consulting firm KPMG Professional Services to conduct a study on the assessment of the level of competition in the Nigerian telecommunications industry in 2013. Amuwa said the outcome of that assessment resulted in the definition of relevant market segments and a determination of dominance in some of those market segments. According to her, following the success of the 2013 determination and activities in the telecoms industry and since then, it became necessary to conduct another assessment of the competition in the market.
“NCC has engaged the services of Messer’s CT Worx. Limited to conduct a study on the ‘Level of Competition in the Nigerian Telecommunications Industry,’ using the 2013 as baseline year,” she stated. Amuwa said CT Worx has five months to deliver on the work, and that the study would enable the commission to evaluate the current level of competition within the various market segments of the Nigerian telecommunications industry; identify the factors determining the degree of competition in telecommunications industry in Nigeria, with a focus on the degree of rivalry in the sector; evaluate the Commission’s interventions towards deepening
Competition and identify areas that require improvements and benchmark these practices against international standards and good practices. Others are to identify indicators for evaluating the level of competition in the various telecommunications market segments identified; identify any existing/plausible agreements, arrangements and practices among different licensees which constitute anti-competitive conduct, anti-competitive patterns and propose effective measure to address them; and determine dominance if any and propose obligations to be imposed on dominant operators in any market segment where such is determined to exist.
Study Shows New Airport Terminals Lack Facilities, Require $500m for Upgrade Chinedu Eze The new terminals at the Nigeria’s major airports slated to come on stream before the end of this year may not be ready for use as planned because the facilities lack basic infrastructure for passenger facilitation. Studies conducted by the federal government and carried out by Arcaid, Architects and Environmental Consultants have revealed that the new airport terminals built at the cost of $600 million (N2.16 billion) are inadequate for targeted passenger traffic and lack essential facilities. The report of the studies made available to THISDAY yesterday, disclosed that to provide the infrastructures that are lacking in the terminals, government has to deploy additional $500 million. The terminals located at the Murtala Muhammed International Airport (MMIA), Lagos, the Nnamdi Azikiwe International Airport, Abuja, the Mallam Aminu Kano International Airport, Kano, and the Port Harcourt International Airport, Omagwa, are being built by a consortium of Chinese companies led by China Civil Engineering Construction Corporation (CCECC). The project was funded by the Chinese government at the cost of $500 million with counterpart fund of $100 million paid by the federal government. The money which was obtained in 2012 from the Chinese Import-Exim Bank in 2012 led to the construction of the terminals in 2013 with targeted date of completion in 2015, but work is yet to be
completed in the terminals in 2018; although almost all of the terminals are at advanced stage of completion. Details of the report disclosed that adequate feasibility study was not carried out before locating the terminals at the area of the Abuja and Lagos airports where it obstructed the fire service and the control tower respectively. The studies also revealed that essential facilities that were absent in the new terminals include landside link, which ought to link the new terminal to the old, drop off canopy, access roads, apron and taxiway, water treatment upgrade and power improvement equipment, The company that carried out the studies recommended to the federal government the urgent construction of the new fire station, power upgrade and sewage upgrade and the link between the new and the old terminals must be completed before the new terminals would be cleared to become operational. THISDAY also learnt that after the presentation of the study of each of the terminals, the federal government put a cost to the additional facilities required and it came to about $500 million, which the federal government has included in the 2018 budget after it was approved by the Federal Executive Council (FEC). The report also disclosed that the construction of the terminal was hurriedly done without proper study on the location of the facility and that explained why the one located at the Lagos airport was built at the area it blocked the control and on top of electricity cables, which gave rise to constant power outage at the airport.
SPECIAL GUESTS
L:R;: Chairman, Independent National Electoral Commission (INEC), Professor Mahmood Yakubu; Keynote Speaker and former Nigeria High Commissioner to the United Kingdom, Dr Christopher Kolade; Lagos State Deputy Governor, Dr Idiat Oluranti Adebule; Chairman, Broadcasting Organisation Nigeria (BON), Mr. John Momoh; and Lagos State Commissioner for Information and Strategy, Mr. Kehinde Bamgbetan, during the 69th general assembly of BON in Lagos....yesterday
Multichoice Chief Urges African Media to Take Advantage of Digitalisation Bolaji Adebiyi ÓØ ßÌËÓ
our continent benefits from this opportunity,” Pahleh said. African media industry Setting the tone for the must utilise the enormous conference on its positive outlook opportunities that digitalisation into the future directions of offers to tell their stories to video entertainment and how the global audience, the Chief the industry is responding to the Executive Officer of General rapid change in technology with Entertainment of Multichoice, respect to content delivery, she Ms. Yolisa Pahleh, said said Africa needed to leverage yesterday at the fifth edition on technology to reshape global of Digital Dialogue Conference perspectives on her peoples’ holding in Dubai, United Arab experiences and realities. Emirates. She told her audience that Opening discussions at the in the midst of the ongoing dialogue, a thought-leadership digital revolution, African platform established in 2012 and content developers had the facilitated by MultiChoice to opportunity not only to tell address various issues facing stories that educate and inform the video entertainment industry the continent’s audiences, but on the continent and share also to export Africa’s prevailing industry best-practice, she cultural experiences to the world said African entertainment as well as create a global market industry players had a collective for its creative works. responsibility in ensuring that According to her, “By using the continent reaped from the the internet and leveraging abundant benefits of emerging technology, we have the ability to opportunities of digitalisation. reach audiences at a global level, “Digital disruption will and the success of companies change how people consume like Iroko TV, artists like Davido, our products, and as people who actresses like Lupita Nyong’o are interested and committed and the movie Black Panther are to the future of Africa, it is our confirmation that the world is collective responsibility to play ready to consume African stories, an active role in making sure celebrate African culture and
embrace African languages.” But the MultiChoice executive said achieving this goal would take incredible focus, adding that as the future of news and the media increasingly becomes of more concern to the global community, content, technology and customer, would become more essential for any news or media organisation that wants to survive and grow in the future. She explained that any media that would survive in the digital world would, therefore, have to find new ways of engaging more effectively because there would be more choices and contents than ever for their customers, who she said, would become more and more accustomed to receiving personalised content that talks to their specific requirements often seemingly for free. Pahleh said:, “Nowadays, no-one can say with absolute certainty what the future holds for any business in the news or media industry. What we do know, however, is that people today consume more news and entertainment than ever and I believe this trend will continue. The delivery mechanisms will
change, and in many ways digital is just another route to market, but the producers of the most relevant and resonant content will survive.” She said Multichoice had taken the lead in the digitalisation process, and explained that it was the reason the company launched GOTV in spite of the massive reach of its DSTV channels, adding that MultiChoice Africa was established by people who were creating a media company not for the present, but one for the future. She said, “We produce over 16 local content channels across the continent showcasing local storytellers and created the Africa Magic Viewers’ Choice Awards that celebrate African film making, we work with local broadcasters so that East Africans can see what is happening in West and Southern Africa. As a company, we are looking forward to investing even more in telling local stories, documenting our history and providing a platform for Africans to share African stories.”
THURSDAY, MAY 3, 2018Ëž T H I S D AY
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NEWSXTRA
Jonathan: Pastor Adeboye Should Call Osinbajo to Order Challenges Osinbajo to  prove his allegations Gboyega Akinsanmi Former President Goodluck Jonathan yesterday asked the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, to call the Vice President, Prof. Yemi Osinbajo, to order for peddling falsehood against his person. Jonathan added that even after Osinbajo had been called upon repeatedly“to respect his supposed pastoral calling and stop his nasty habit of lying, he refuses to heed these calls and continues to spew falsehood.� These were contained in a statement the GEJ Media Office issued yesterday, pointing out unfounded allegations the vice president had made at different times against the person of the former president. Last Tuesday, Osinbajo had at The Platform, a programme organised by the Covenant Christian Centre in Lagos alleged that three unnamed persons stole $3 billion (N1 trillion) in the Jonathan administration. On March 19, also, Osinbajo alleged that the Jonathan administration shared N150 billion two weeks to the 2015 elections while it spent a paltry N14 billion on agriculture in 2014; N15 billion on transportation and only N153 billion on infrastructure in three years. But in a statement issued by his media office yesterday, Jonathan called Pastor Adeboye to caution Osinbajo to stop peddling falsehood against his person. If Osinbajo fails to heed this advice, the former president urged the cleric “to remember that the RCCG ordains its pastors not to lie but to spread the word of God, “asking if “this is what Vice President Osinbajo is doing?� Jonathan recalled that Osinbajo falsely alleged that he took N100 billion from the Central Bank of Nigeria (CBN) in cash to his personal house
in Abuja. When challenged to provide proof of his fallacious claims, the former president disclosed that the vice president hid behind ‘sources’ and began to feed stories from anonymous officials to the media. This time around, according to him, Osinbajo alleged that three persons working in his government looted $3 billion from the country’s resources without providing proofs to back his allegation against his administration. He, thus, noted that the vice president “is a liar, forgetting or perhaps not caring that the devil is the father of all liars. I challenge him once again to prove me wrong by mentioning those three people and providing proof that they stole the amounts allegedly stolen. “It is sad that at a time when the Buhari administration should be telling Nigerians what they have achieved after three years, they continue to blame and point fingers. The reason for this is because neither Buhari nor Osinbajo can point to any project that they have initiated, started and completed in three years,� he explained. Jonathan noted that the people of Nigeria voted for Buhari and Osinbajo because they said subsidy was a fraud and would be stopped; that fuel would be sold at 40 per litre, and that fuel scarcity would end. After three years, Jonathan said the Buhari administration “is paying more subsidy than former President Jonathan ever paid at 1.4 trillion annually. Fuel price was increased from 87 to 145 per litre, Fuel scarcity is worse. “Faced with these facts, a desperate Buhari administration, wanting to be re-elected and knowing that it cannot run on its record, has devised a plan to distract attention from its woeful record of failure by making constant false allegations on my person.� He lamented that the Buhari
Armed Herdsmen Kill Six in Guma George Okoh Ă˜ Ă‹Ă•Ă&#x;ĂœĂŽĂ“
The source added that while the attack was going on, soldiers Once again, suspected herdsmen posted to the area did not make have unleashed terror on attempt to repel the marauding Yelewata community in Guma herders Local Government Area of “Those that attacked my village Benue State, killing six people today came from the axis of Giza and burning down houses. in Keana of Nasarawa State as Several villagers also sustained many of our boys that joined in injuries during the attack. repelling them had a nice glimpse According to a local source who of them, they are full blooded said six of his relatives were gunned Fulanis and not Libyans,� he said. down by the attackers, the incident Meanwhile the Benue State took place a few metres behind a Governor, Samuel Ortom, primary school which is being used confirmed the latest killing in as the Nigerian army camp site. Guma. He said the attackers came from The governor said he got the the Nasarawa State border area information via his Facebook and were shooting sporadically account that six persons were at anyone in sight. killed in Yelewata. “They also attempted to raze the He told journalists that entire community but youths of investigation would be instituted the area successfully repelled the to confirm the attack. attackers who fled to Nasarawa Phone calls to the police State,� he said. authority was unsuccessful.
administration “has yet to tell Nigerians what happened to the $25 billion that was awarded in contracts without due process by the Nigerian National Petroleum Corporation (NNPC).�
He sought to know how “Maina was returned, reinstated, double-promoted and given armed guards or why the indicted Executive Secretary of Nigerian Health Insurance
Scheme was reinstated despite a clear case of corruption or when Babachir Lawal would be charged. “Instead, they continue to throw mud at those who have
achieved what they have not achieved. If Osinbajo cannot stop his habit of lying, I hereby call on Pastor Adeboye to withdraw his pastorate before he brings the church of Christ into disrepute.â€? Â
DIPLOMATIC VISIT
L-R: French Ambassador to Nigeria, Ambassador Denys Gauer; Counsellor to the French Presidency and Prime Minister’s Office, Pascal Confavreux; Advisor to the French President, Ms. Marie Audouard; Consul General of France in Lagos, Laurent Polonceaux; Founder/ Executive Chairman, BUA Group, Abdul Samad Rabiu; Head of Regional Economic Department, French Embassy, Ms. Emmanuelle Boulestreau, and Member of the Presidential Council for Africa, Ms. Nomaza Nongqunga-Coupez, when a delegation of the President of France, Emmanuel Macron, visited the BUA Group Headquarters in Lagos....yesterday.
Forte Oil to Sell Nigerian Assets, Pulls out of Ghana Goddy  Egene åÓÞÒ Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂž Nigerian energy firm, Forte Oil  Plc, yesterday said it planned to sell its upstream services and power businesses in Nigeria and divest from Ghana to focus on its core fuel distribution operation at home. The move, according to Reuters,  comes as a surprise about-turn for a company whose Chief Executive Akin Akinfemiwa told investors in Lagos in August that he wanted to aggressively pursue merger and acquisition (M&A) opportunities along the energy value chain and acquire marginal oilfields to boost its upstream business. The company, majority owned by billionaire, Femi Otedola, had also been in talks with a major refinery to form a strategic partnership for local refining of petroleum products. Forte Oil’s share price plunged
49 percent last year after the company struggled to get hard currency to import products. It now has a total market value of  N57.3 billion  but gave no indication on Wednesday of how much the businesses for sale might fetch. It said interest costs attributable to the businesses to be sold stood at 2.2 billion naira as of December. It now plans to seek shareholder approval for the sale onMay 23 and appoint advisers, it said in a notice to investors.  Forte Oil did not give a reason for the change in direction but said the downstream sector in Nigeria had gone through changes in recent years and was expected to evolve further. It added that the industry had  operated under a tightly regulated fixed margin but could be deregulated especially given its impact on the Nigerian currency and
import bill. The government increased petrol prices by 67 per cent to N145 in 2016 to cut subsidies paid for fuel imports after a plunge in oil prices hit state revenues, caused dollar shortages and halted infrastructure projects with firms laying off tens of thousands of workers. However, the hike did not prevent petroleum  shortages which have plagued Nigeria for much of last year and this year. Nigeria’s  existing and ageing refineries have a daily domestic refining capacity of six million litres, while the daily consumption stands at 35 million litres, so the country has to import the bulk of what it consumes. Forte Oil has two storage depots, five aviation fuel depots and a lubricant blending plant. It also has 100 trucks for distribution of products across its more than 500 retail outlets
which would require a lot of capital to expand. Its 57-per cent owned power unit, Amperion Power Distribution Company, has a lot of receivables due from the state-backed offtaker and its upstream unit has contributed less than seven  per cent to group earnings over the past three years. The unit in Ghana has declared losses over the last three years and has uncollectible trade debts due to tough economic conditions and a currency devaluation in the cocoa-rich country. Forte Oil said proceeds from the divestment would be used to expand its downstream fuel distribution business and to invest in storage infrastructure. “The changing landscape also suggests backward integration would be essential to remain competitive within the sector, particularly in the face of impending deregulation,� it said in the notice.
OBASANJO DENIES SUPPORTING BUHARI’S SECOND TERM BID added. The former president also stated that President Buhari has again bungled another opportunity to self-redeem, adding that it was no wonder President Trump ordered him in a rather condescending manner to go back home and stop the killings going on in
Nigeria. “We hope now Buhari will heed Trump’s advice which hopefully will be considered non-abusive. Therefore, Obasanjo is more convinced in his statement of January 23rd and will not change his position.  No lies, fake news dished out by these desperate
and unintelligent supporters is worth believing and these misinformation cartel and social media tigers will do more damage to the flint reputation of their principal,� Obasanjo said. Obasanjo urged those abusing the media to desist from this barbaric act as it would only
expose them to greater ridicule at the end of the day. Obasanjo insisted that he would continue to speak out and issue patriotic statements under his signature or cause them to be issued on his behalf under the signature of his media representative.
THURSDAY, MAY 3, 2018˾ T H I S D AY
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NEWSXTRA
Gains of Buhari’s Visit to US, By Nigerian Delegation Says it’s a win-win for both countries Tokunbo Adedoja ÓØ ËÝÒÓØÑÞÙؘ The bilateral meetings between President Muhammadu Buhari and the United States President Donald Trump, including meetings held with US businessmen, were engaging, productive and a win-win for both countries, the Nigerian delegation has said. Briefing journalists on the gains of President Buhari’s meetings in Washington last Monday, three Nigerian
ministers who accompanied the president to the White House and were present in all the meetings held, said good business deals were struck and commitments were secured at the highest level of the two governments. The ministers who briefed journalists were Minister of Industry, Trade and Investment, Okechukwu Enelamah; Attorney General of the Federation, Abubakar Malami; and Foreign Affairs Minister, Geoffrey Onyeama.
NNPC Targets Cut in Nigeria’s Global Gas Flares Chineme Okafor ÓØ ÌßÔË The Nigerian National Petroleum Corporation (NNPC) yesterday stated that it has devised a fresh three-pronged approach to end the practice of gas flare in oil fields across Nigeria, and subsequently move the country’s position from the world’s second highest gas flare nation to the seventh. NNPC’s Group Managing Director, Dr. Maikanti Baru, stated this in a lead paper he delivered during a panel session at the ongoing 50th Offshore Technology Conference (OTC), in Houston, United States of America. A statement on this was signed by the Group General Manager, Public Affairs of the NNPC, Mr. Ndu Ughamadu, and sent to THISDAY in Abuja. Baru said the three-point strategy aimed at ending gas flaring in the country which the NNPC has developed, would ensure a sustainable solution to the historical problem of flaring, thereby turning waste
sectors. “It was a good meeting and it’s a win-win for both Nigeria and the US. There were a lot of wins,” Onyeamah said. Speaking on issues discussed in the meetings at the White House, Onyeamah said: “In the area of trade, of course, the objective was to increase the level of trade between Nigeria and the US. The two presidents agreed that concerted efforts would be made. The issues of market access, in this context, were discussed. “On the issue of security, the United States has been helping Nigeria, supplying military equipment in the fight against terrorism, and there is an agreement to continue the cooperation between the two
countries in this context. “In the area of governance, the question of the return to Nigeria of large sums of money that have been siphoned out and lodged in banks in various jurisdictions around the world and the cooperation with the US in helping to repatriate these funds were also discussed and a commitment was made to continue the cooperation in this regard. So there were good wins.” The Industry, Trade and Investment minister, on his part, said: “Today has been a good day for the U S and it’s actually a good day for Nigeria.” Noting that from experience, economic cooperation requires working at it from three levels, Enelamah said when those three
levels click, then cooperation would go far. The three levels, according to him are, government to government cooperation; government to business cooperation, and business to business cooperation. These three levels, he noted, were involved in the meetings held last Monday. “At this particular meeting, the government to government level involved not only the two presidents meeting but also cabinet members were there,” Enelamah said. For the government to business level, the minister said President Buhari met with various business leaders and had a very productive and engaging discussions with them.
into dollars. He explained that in the last decade, gas flaring in Nigeria had reduced significantly from 25 per cent to 10 per cent. According to him, the threepoint strategy championed by the NNPC to arrest the growth in gas flares include ensuring non-submission of Field Development Plans (FDPs) to the Department Petroleum Resources (DPR), without a viable and executable gas utilisation plan. This, he added would ensure that there are no new gas flare in current and future projects. The other two strategies, Baru added, were a steady reduction of existing flares through a combination of targeted policy interventions in the gas masterplan as well as the re-invigoration of the flare penalty through the 2016 Nigeria Gas Flare Commercialisation Programme (NGFCP) and through legislation, that is, ban on gas flaring through the recent flare gas prevention of waste and pollution regulations 2018.
Oando Reports N4.2bn Q1 Profit Oil firm, Oando Plc, has recorded a profit after-tax of N4.2billion in its 2018 first quarter results. The company, in a statement in Lagos, said it had cashed into the favourable micro business environment characterised by an increase in national oil production, exchange rate stability, as well as an increase in global oil prices which averaged $66 per barrel in 2018 Q1, about $3 more than the projected average of $63 for 2018 and 2019. Its turnover grew by nine per cent to N150.5 billion from N138.4 billion (Q1 2017); gross profit increased by 108 per cent to N27.9bn compared to N13.4bn (Q1 2017); and profit after tax increased by 145 per cent to N4.2bn compared to N1.7bn (Q1 2017). The performance, Oando explained, was reflective of its increase in production by four per cent to 3.6 million barrels of oil equivalent (average 39.656 boe/day) from 3.4 MMboe (average 38.125 boe/day in comparative period of Q1
Giving journalists the run down on the issues discussed and composition of the meetings held behind closed–doors at the White House, Onyeama said Buhari had a one-on-one meeting with Trump and then a working lunch made up of one+10 from each side. At the working lunch where each of the two presidents and 10 members of his delegation were present, he said areas covered were essentially security, trade and governance issues. At the Blair House where Buhari was accommodated, the minister said the president met with CEO’s of six US companies with interests in agriculture. He said Buhari also met with a group of ten US business leaders from different
2017 due to the reopening of the Trans Forcados pipeline. In its upstream business, Oando recorded a net profit of N8.6bn ($23.8m) compared with N5.8bn ($16.2m) in the comparative period of Q1 2017. It said the increase in net income between the quarters was primarily due to higher revenues as a result of a general increase in the price of oil and gas commodities. Commenting on the results, the Group Chief Executive, Oando, Wale Tinubu, said: “Our Q1 performance was characterised by a stable operating environment, continued incline in crude oil prices, and the highest level of compliance by member countries of the OPEC Accord. “Considering the background of current industry trends, the company is committed to maximising throughput rate to ensure a positive financial performance in the ensuing quarters of 2018.”
DIGITAL CONFERENCE PARTICIPANTS
L-R: Founder, Intelligencr, Paul Papadimitrio; Filmaker, Femi Odugbemi; GM, Corporate Affairs MultiChoice Africa, Caroline Creasy; CEO, Video Entertainment, MultiChoice Africa, Yolisa Phahle; and Professor of Creative Industries, Ulster University/Director, Magic Lantern Productions, Anthony Lilley, at the fifth edition of digital dialogue conference in Dubai...yesterday
Zionist Group orders Mass Return of Igbos May 30 Vows to hoist Biafra Flag at Enugu Govt House Christopher Isiguzo ÓØ ØßÑß Undeterred by the proscription of the Indigenous People of Biafra (IPOB), the Biafra Zionist Federation (BZF), a pro-Biafra organisation yesterday in Enugu vowed to sustain the agitation for the rebirth of the Biafran Republic. The BZF has also positioned itself for a possible showdown with the security agencies as it vowed to hoist the Biafran flag at the Enugu Government House on May 30, this year. The self-acclaimed President of the Biafra Zionists, Mr. Benjamin Onwuka, told journalists in Enugu that the Coal City remained the headquarters of the Biafran Republic and therefore will be formally taken on the said date. He also asked all indigenes
of the defunct Biafra to return home on May 30th, 2018. This coincides with same date late Biafra Warlord, Dim Chukwuemeka Odumegwu Ojukwu had also declared a Republic of Biafra in 1967, which triggered the Nigeria-Biafra civil war. This is also as he gave the police a 48-hour ultimatum to release the Chairman and Chief Executive Officer of Ibeto Group, Dr. Cletus Madubugwu Ibeto. He said failure to do so would attract severe consequences. Onwuka boasted: “From May 30, Nigeria’s political activities will be banned in Biafra land. There will also be no more observance of Muslim festivities and holidays in Biafraland. No more Islamic calendars in Biafra land. Holidays for Muslim calendar should be for Muslims, Biafra is not a Muslim country.
“If they want to arrest me, I’m not afraid. I’m not calling on anybody to bring gun, our weapon is American diplomacy. “So, I’m calling on Biafrans all over the world to return home come May 30; I’m not asking them to come with gun; our weapon, our gun will be America’s diplomatic support for Biafra’s independence. “It is going to be at the Enugu Government House; Biafra will raise its flag there. It will not be in the secret, everybody will see it. “I’m making appeal to our people wherever they are to return home, I will not force anybody to come back home but they should heed this call, America is already behind us. “Wherever Biafrans are in the world, we are calling on them to return home on May 30, 2018,
for the Biafra independence. Biafra will be announced at Government House and celebrated at Okpara Square, in Enugu. On the Chairman of Ibeto Group, the Zionists leader said, “It was only last Sunday that I learnt of his arrest and consequently, I am giving order that Ibeto, I want him released within the next 48 hours. “His only offence has to do with the Nkalagu Cement, which they want to take over from Igbo people. He must be released immediately, else, the consequences will be drastic. “Secondly, Senator Enyinnaya Abaribe is being intimidated; that should stop immediately, nothing must happen to him. Those collecting signatures for his recall must be very careful,” he warned.
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THURSDAYSPORTS It’s Liverpool, Real Madrid UCL Final
Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
Arsenal faces Atletico in last chance for European action Liverpool reached the UEFA Champions League final for the first time since 2007, advancing 7-6 on aggregate despite losing a dramatic second leg 4-2 to Roma. A journey that started on August 15 in Germany against Hoffenheim in the play-off
round will end on May 26 when Jurgen Klopp’s men face 12-time winners Real Madrid in Kiev. Leading 5-2 after a devastating semi-final first leg at Anfield, Liverpool increased their lead in when Sadio Mane finished from Roberto Firmino’s clever
pass. An own goal by James Milner, after Dejan Lovren’s attempted clearance cannoned off his team-mate, levelled the scores on the night before Georginio Wijnaldum’s header made it 2-1, and 7-3 on aggregate. However, Roma scored three
more times to give Liverpool plenty of anxious moments in the Italian capital. Edin Dzeko gave the home side hope with his side’s second goal before Radja Nainggolan added two late goals, including a stoppage-time penalty. However, Liverpool just
about kept their hosts at bay to become the first Premier League club to reach the Champions League final since Roberto di Matteo’s Chelsea beat Bayern Munich on penalties in 2012. Meanwhile, Arsenal will face Atletico Madrid in Europa League semi-final second
leg. Arsenal travel to Madrid with the tie poised at 1-1 after Atletico’s Antoine Griezmann equalised late on in the first leg at the Emirates. The Gunners’ only hope of qualifying for next season’s Champions League is to win the Europa League.
NPFL: Kano Pillars Pip Akwa Utd to Move up to Second Spot Femi Solaja Kano Pillars have shot to second spot on the Nigeria Professional Football League (NPFL) standing after defeating Akwa United 1-0 in a rescheduled Match-day 15 game at the Sani Abacha Stadium in Kano yesterday. Veteran midfielder Rabiu Ali scored the winning goal from the spot in the 38th minute after Akwa United’s right-back Etim Matthew tripped Nzube Anaezemba inside the box. The Sai Masu Gida who are four-time champions are now only three points behind leaders Lobi Stars on 31 points. Elsewhere, Champions Plateau United were held 1-1 by Wikki Tourists at the New Jos Stadium. Emmanuel Odafe gave the hosts the lead in the 25th minute after her was set up by King Osanga. Abubakar Umar levelled scores for Wikki Tourists from a
counter-attack in the 58th minute after the same Osanga lost the ball in midfield. Kennedy Boboye’s men remain in the fourth position on 29 points, while Wikki moved a step from 17th to 16th on the log In another rescheduled Match-day 15 encounter, Go Round FC moved away from the drop zone to end their sixgame winless streak with a 1-0 win against MFM FC. Chris Kpeke headed home the winner from Ebuka Akondu’s corner five minutes after the break. The Omoku club rose from 18th to 14th following the win, while MFM remain in the 11th position in the standing.
MATCH DAY 15 (Rescheduled) Plateau Utd 1-1 Wikki Kano Pillars 1-0 Akwa Utd Go Round 1-0 MFM FC
Ndidi Wins Leicester City’s Young Player of the Year Award Again Leicester City midfielder Wilfred Ndidi is in cloud nine after picking the club’s Young Player of the Year award for the second year in a row, Ndidi, 21, defeated the duo of Ben Chilwel and Demarai Gray to the top prize at Leicester City’s annual award night at the King Power Stadium on Tuesday night. The Super Eagles star was also nominated for the Players’ Player of the Year and Player of the Year awards but lost out on the two to England centre-back Harry Maguire. “I feel great. It’s a proud moment for me. I’m very happy about it,” Ndidi told the Leicester City TV channel.
“Kudos to the fans for their support. They have been fantastic since I came here. “We have had a lot of ups and downs this season but it’s good that we are safe.” Ndidi has been one of the key performers for the Foxes this season and much will be expected from him next term, especially with some of the Premier League big guns linked with him but he is not keen to discuss his future. “Next season… Let’s leave that for now and see what comes out later,” the Nigeria midfielder added. Ndidi has made 33 Premier League appearances for Claude Puel’s side this season with four assists to his name.
REDS BACK IN FINAL 11 YEARS AFTER...
Liverpool players and officials appreciating their fans shortly after reaching their first UEFA Champions League final in 11 years
FIFA Proposes a New Mini-World Cup Ugo Aliogo with agency report Coming barely months after expanding the 2026 World Cup from 32 teams to a 48-team format, FIFA President Gianni Infantino has proposed staging what would effectively be a new mini-World Cup, featuring eight international teams, every two years in addition to the traditional event. According to Reuters, the tournament to be known as the “Final 8”, would be the climax of a proposed global Nations League competition, part of an ambitious plan to reform international football which FIFA believes could be worth $25 billion in a 12-year cycle. In a letter seen by Reuters,
Infantino, suggested that the new tournament would take place every October and/or November of every odd year starting from 2021. He said that a “solid and serious” group of investors were willing to spend $25 billion on the competition and a revamped version of the Club World Cup, which would also start in 2021 with 24 teams. The Confederations Cup, currently staged every four years in a year before the World Cup, would be abolished. The letter did not clearly indicate how many slots would be allocated to each region. The plans were sent by Infantino to the members of FIFA’s decision-making Council which still has to approve them.
The new competition would run parallel to existing international tournaments such as the European Championship, Copa America, and African Nations Cup, plus the World Cup qualifying stages. It could lead to criticism that FIFA is over-complicating international football and devaluing its flagship World Cup. FIFA could not immediately be reached for comment. European soccer body UEFA and its counterpart for North and Central America and the Caribbean, CONCACAF, have already set up Nations League contests in their own continents. In both cases, the competitions involve all the national teams in their respective regions who
are divided into divisions based on their rankings. There is promotion and relegation between the divisions, as in conventional domestic club leagues. UEFA’s inaugural competition will begin in September this year. Other continents would have to set up similar competitions for the tournament to be viable. Infantino suggested that similar intercontinental minitournaments to the Final 8 could also be organised for the top teams in the lower divisions. Infantino’s letter said that all revenue from the competition would be redistributed. “This means that FIFA as an organisation would not benefit financially from this competition,” he said.
NBBF Warns Clubs against Participating in Illegal League Okpekpe Tops List of IAAF Label 10km Road Races The Nigeria Basketball Federation (NBBF) has warned that clubs are at the risk of losing their positions in the Premier Basketball League and any other NBBF organised competition if they participate in the Invitational Tournament scheduled to start on the May 6. NBBF Secretary, Asiegbu Chimezie, said in a statement yesterday that this pronouncement became necessary to avoid what happened last season when clubs said they were not officially warned to stay away from tournaments not sanctioned by the federation. “FIBA has made its position known regarding basketball
issues in Nigeria. It is clear who is in charge of basketball affairs in the country until such time that a new constitution is drafted which will usher in the election of a new board.”. Asiegbu warned that as the only body recognised by FIBA, Federal Ministry of Youth and Sports and the Nigeria Olympic Committee (NOC), the NBBF board under Amadu Musa Kida is the only body authorised to organise the country’s national premier competition from where the champions and the runners up will be selected to represent Nigeria in any international club competition. The Secretary said that those
sympathetic to the group led by the former President of the NBBF, Tijani Umar, may argue that the federation is not under any elected board at the moment but there are individuals currently saddled with running its affairs and corresponding with FIBA. “No other person or group of persons can hold itself out as the NBBF. FIBA is presently dealing with Ahmadu Musa Kida (President), Babatunde Ogunade (Vice President) and Chimezie Asiegbu (Secretary General) as contained in the last FIBA letter of 13th March, 2018 and captured on the FIBA website under the Nigeria Basketball Federation column.”
The sixth Okpekpe International 10km Road Race will officially flag off a number of IAAF label 10km road races in the world this year. The race in Okpekpe, a town in Etsakor East Local Government Area of Edo State located about 25 km North East of Auchi will be the first IAAF silver label road race in West Africa just like it did in 2015 when the town became famous for hosting the first ever IAAF label road race in sub-saharan Africa. The history-making event will hold on Saturday, May 12 and it is the only IAAF silver label 10km road race for the first half of 2018.
A day later, all eyes will be on the Indian city of Bangalore for the IAAF gold label Tata Consultancy Services World 10K Bengaluru which holds a day after the Okpekpe race. Ottawa in Canada will host the third and final IAAF label 10km road race for the first half of the year. The Ottawa 10km race will hold on May 26 and it is an IAAF gold label road race. Meanwhile, organisers of next weekend’s first-of-its-kind race in Okpekpe have warned that registered athletes must wear the temporary timing chip attached to their race number. Failure to wear this will
result in the participant’s name being omitted from the results. This means such a participant will not be eligible for the prize monies on offer. ‘’The race number and temporary timing chip are linked to your name and finishing time. Allowing another person to compete with your number will result in disqualification of the other person and your exclusion from next year’s event,’ warns Henry Amike, the elite athletes manager for the silver label race. Amike also revealed that the use of personal music players with headphones will not be allowed.
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MISSILE Kingsley Moghalu to Nigerians “There is no power greater than the power of the people. The power to change belongs to the people. We can get the kind of nation we desire if we use our power” – Former CBN Deputy Governor and presidential aspirant, Dr Kingsley Moghalu, saying Nigerians must vote wisely in 2019 if we are to arrest the current drift.
OLUSEGUNADENIYI THE VERDICT
olusegun.adeniyi@thisdaylive.com
Codeine and the Criminal Enterprise I
n my column titled “Catalogue of Made-in-Nigeria tragedies” published on 17th September 2015, I listed a myriad of issues which depict a near absence of safety standards in most areas of public administration in the country, after which I concluded: Whichever way we look at it, the string of untimely, and sometimes brutal deaths from preventable causes that have become our lot as a nation in recent times is a sad commentary on the value we place on human life in Nigeria. One of the numerous examples I cited in the piece was the revelation by Mr. Ali Baba Mustapha, the Assistant Superintendent in charge of Exhibits at the Sokoto State Command, National Drug Law Enforcement Agency (NDLEA) about the increasing involvement of married women in drug abuse. According to Mustapha, many women now take cough syrups that contain codeine, believing that it would enhance their sexual appetite. A week later, Daily Trust newspaper, which broke the initial story, did a lengthy feature titled, “Codeine abuse spikes in women, teens across North”. It was the first of several major stories on how cough syrups like Benylin, Emzolyn, and Asad as well as Rohypnol and Tramadol tablets are destroying several families, especially in the North. “There is the case of a new bride whose husband discovered under their bed, a carton of Tutolin, usually abused to induce intoxication and supposedly boost sexual drive. Even before then, during the wedding, the loss of a necklace had prompted a search that led to the astonishing discovery that women at the occasion, mostly housewives, had varieties of cough syrup containing codeine in their handbags” said the report. Since then, there have been several other reports on the devastation that these drugs are wreaking, especially in the North. Two years ago, the NDLEA Commander for Gombe State, Mr Aliyu Adole, said between 20 to 30 percent of the young people in the country, including school children, were into substance abuse. “It’s the cartel, dealers and rings that supply drugs to the youths and the same cartel sells from South to the North”, said Aliyu who explained how the drugs are usually transported in heavy duty vehicles and stuffed between other commodities in what is clearly an organized crime. While the authorities in the health sector pretended they were not aware of what has been going on, the first official response to the menace came last year when Borno Senator, Baba Kaka Bashir Garbai moved a motion on the “increasing abuse of cough and prescriptive drugs among the youth and women across the 19 northern states” which he argued “has devastated many upper and middle class families in the region. There are several reports about young girls in tertiary institutions, who have taken to an alarming abuse of the codeine cough syrup, which is often taken, mixed with soft drink.” The problem, Garbai added, “is destroying even mothers in homes, as they use same codeine and other drugs as
DG of NAFDAC, Prof. Mojisola Adeyeye an escape from their abusive relationships and invariably get hooked on them.” Supporting the motion at the time, former Sokoto State governor, Senator Aliyu Wamakko said the challenge was not peculiar to the north; hence it should be treated as a national social problem since amphetamine-type stimulants and several dangerous over-the counter (OTC) drugs are being increasingly abused across the country. Wamakko was right. Indeed, if there is anything that the murder in 2002 of Miss Cynthia Osokogu in a Lagos hotel by her Facebook friends revealed, it is the ease with which one can procure any and every drug in our country without medical prescription. In the course of the trial, Cynthia’s killers confessed that they bought the Rohypnol—a prescription drug for the treatment of insomnia—which they injected into her drink, from an OTC store. However, it would seem the landscape is changing following a chilling report last weekend by Ms Ruona Meyer for the British Broadcasting Corporation (BBC). Titled, ‘Secrets of Nigeria’s illicit codeine trade revealed’, the report has already forced one of the leading pharmaceutical companies in the country to dismiss a staff who was caught on camera selling 60 bottles of cough syrup. Now, everybody is talking about a problem that has been there for years. Even the Federal Ministry of Health has suddenly woken up by directing the National Agency for Food and Drug Administration and Control (NAFDAC) to ban further issuance of permits for the importation of codeine as an active ingredient for cough preparation. The question is: Was this the tipping point? In the BBC report, Ruona’s story went beyond the demand and consumption of codeine to the supply side and exposed the mindless corruption behind the whole trade. Two, by naming and shaming, the pharmaceutical companies feeding fat on the misery of others and their collaborators in the health sector can no longer sleep
easy. Three, the medium is sometimes the message. With the BBC internationalising the story, there was no way the Nigerian authorities could continue to ignore what many people had been warning about. We must commend Ruona who, by the way, is the daughter of Mr Godwin Agbroko, former chairman of THISDAY editorial board who was shot dead on his way home from work on the night of 22nd December 2006 by unknown assailants. What she has done is beyond journalism, it is public service. While there may not be any available statistics, there must be a correlation between substance abuse and most of the crimes that are now prevalent in the country today even if we discount the several families that have been destroyed by the problem that is evidently national. Incidentally, I came across two positive developments on the issue yesterday, one from NAFDAC and the other from the Senate. The two institutions have come to the realization that at a time the nation is facing a serious economic challenge, the social problem of having our young people hooked on drug needs to be properly addressed. It is something the authorities must build upon if we are to effectively tackle this big challenge. While NAFDAC, under its Act, has power to grant authorization for the import and export of narcotic drugs and other controlled substances, I understand that not much attention was paid to dealing with drug and substance abuse in the country until the recent appointment of Professor (Mrs) Mojisola Adeyeye as the Director General. The previous efforts were concentrated on the supply side by ensuring that the use of narcotic drugs and psychotropic substances were limited to medical and scientific purposes and prevent any diversion of these substances for illicit use. That the efforts have yielded little fruits can be glimpsed from the danger we now confront. In recent months, Adeyeye has been vehement in her campaign that the sale of Tramadol, a medication used to treat pain (but capable of being abused and addicted to), should be controlled and never administered to children. According to Adeyeye, the US-FDA has discovered that the use of Tramadol in children below 18 years of age may result in a rare but serious case of slowed or difficulty in breathing. After identifying the various socioeconomic problems as major risks factors responsible for substance abuse in her recent presentation before the Senate Committee on Drugs and Narcotics, Adeyeye also confirmed that “codeine containing cough syrup has been a prescription-only-medicine since 2012” even when it is being sold massively by some unscrupulous people in the country. Perhaps because he comes from the medical profession, the Senate President, Dr Bukola Saraki has also shown considerable interest on the issue. After a recent roundtable discussion in Kano by the Senate on the menace of drug and substance abuse with all the critical stakeholders gathered to proffer possible solutions, two bills have already been drafted. The first one, ‘National Drug
Control Bill, 2018’, seeks “to provide for the effective response and regulation of the production, distribution and consumption of controlled substances in Nigeria and for related matters.” Both NAFDAC and the Senate should be commended for being proactive on the menace but the second bill which seeks to create a National Council on the problem is for me unnecessary. What we need is not another bureaucracy but a new orientation. Apparently because we live a country where not much attention has ever been paid to healthcare aside the fact that self-medication is the vogue, even security guards openly prescribe and sell ‘malaria tablets’ in their kiosks, a multipurpose centre for trading anything and everything. That explains why these dangerous substances are readily available on the streets. In her Senate presentation, Adeyeye argued that “drug traffickers usually target the weak institutional links in the control chain; hence the need for improved collaboration, coordination and information sharing between and among drug control and enforcement agencies in addressing the drug problem” while highlighting some of the challenges to include the absence of NAFDAC at the ports. The agency, according to Adeyeye, is also adversely affected by lack of adequate resources (including operational vehicle and staff), as well as “delay in prosecution of criminal offenders and imposition of mild punishment by the courts.” Like in most cases, calamities like drugs, diseases and terrorism travel faster and more easily where borders are porous and institutions of control and regulation are weakest. Therefore, it is a matter for serious concern that NAFDAC lacks the enabling facilities to effectively control the influx and spread of dangerous drugs. A country that is ever in a hurry to appropriate funds for all manner of dubious expenditures ought to have the self-interest to see the codeine influx as a virtual emergency. Besides, it is the economic desperation of the times and the spread of a mass psychology of hopelessness that has created a ready market for the dangerous substances on which many of our young people are now hooked.
Congratulations Alake The appointment of Mr Olakunle Alake as the Group Managing Director of the Dangote Group could not have come as a surprise to anybody who has followed the trajectory of both his career and the growth of the company he has served diligently for more than two decades. It is a reward for talent, industry and loyalty. A 1983 graduate of Civil Engineering from Obafemi Awolowo University, Ile-Ife and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Alake is one of those unassuming professionals who prefer to work behind the scene with result the only bottom-line. I wish him all the best in his new assignment.
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